NewsRoom Articles - Page 60 of 129

TuesdayDec 20, 2022 12:28 pm

Report Suggests Toyota Is Revising EV Strategy

As Toyota competes to close the gap with auto sector leaders Tesla and BYD in terms of performance and pricing, it is anticipated to make some adjustments to its EV strategy in the coming years, through 2026. Individuals who are familiar with the process said this while communicating with their major suppliers. Toyota has long been searching for strategies to help the company compete with the anticipated electric vehicles on the market for the next 10 years. However, one of the individuals stated that the planned changes would unquestionably have an impact on the already scheduled programs over the next…

MondayDec 19, 2022 11:13 am

Lyft Offers Drivers Incentives to Switch to EVs

Lyft has devised a strategy of providing incentives to its drivers in the form of discounts and bonuses to entice them to switch to EVs, which would enable Lyft to meet its target of having all vehicles in its system fully electric by 2030. Lyft recently announced that it was on a mission to partner with businesses in order to support users on its platform with decarbonization efforts and enable Lyft to fulfill a commitment made in 2020 to go fully electric. According to Lyft's director of sustainability, electrification is an important step in combating climate change. As a result,…

ThursdayDec 15, 2022 1:45 pm

Data Shows EVs’ Operational Costs at Par with Conventional Cars

Because of the rise in fuel prices this year, it is now cheaper to run an electric vehicle than a fuel vehicle in nearly all countries across Europe, according to LeasePlan data. Even though battery-powered vehicles have turned out to have reduced operating expenses, they are nonetheless more costly to purchase than fuel-powered vehicles. The costs of owning, operating, and maintaining battery-powered vehicles eventually equal those of gasoline-powered vehicles. This is seen as a critical turning point that could result in a mass conversion to battery-powered vehicles. In order to compare a section of the market across 22 European countries,…

WednesdayDec 14, 2022 1:15 pm

Colorado Wants EV Transition Sans Imposing ICE Vehicle Ban

While many states, including California, which is seen as a role model in terms of designing policies to enable the transition to electric vehicles, have put emphasis on the “sticks” in the carrot-and-stick approach to facilitating the change, Colorado wants to get rid of the stick and emphasize the carrot in order to achieve 100% electrification of its transport industry by 2050. Last week, the state launched a plan geared to promote the rapid uptake of electric forms of mobility without instituting a ban on internal combustion engine (ICE) automobiles. Leaders say that the reason for taking this stance is…

TuesdayDec 13, 2022 12:36 pm

Chinese-Made EVs to Claim Bigger Share of EU Market in 2023

A report authored by Fitch Solutions suggests that electric vehicle makers from China have set their eyes on the European mass market and could make significant inroads next year, followed by an even bigger onslaught in the years to come. The report says that the Chinese automakers are likely to find a harder time breaking into the premium EV market, but that goal isn’t an altogether impossible one once the vehicle makers establish themselves in the mass market segment of the industry. This is because premium market buyers who are used to cruising around in Audis, BMWs, Porsche or Mercedes…

MondayDec 12, 2022 1:49 pm

GM to Install Thousands of EV Chargers in Out-of-Town Locations

General Motors' plans to install up to 40,000 EV charging stations throughout all rural areas across America have begun. This is timely, as General Motors intends to completely electrify its fleet by 2035. Currently, 43,000 such charging stations are in place, so General Motors' plan would almost double the already available number of charging stations. It's important to keep in mind that these are level 2 chargers, which are a little slower albeit still quite effective as opposed to the faster level 3 chargers, which are known to quickly charge an electric battery to 80% of its capacity in a…

FridayDec 09, 2022 10:45 am

EV Battery Prices Trend Upward, a First in 10 Years

In a first of its kind since 2010, the cost of batteries has increased. These higher prices, coupled with rising costs of raw materials, are projected to hamper the spread and use of electric vehicles around the world. A report authored by BNEF indicated that the price of batteries rose to an average of 151/kwh, showing a slight increase of 7% from a year earlier. This increase was a result of the rising prices for battery metals such as lithium and cobalt, as well as nickel. However, in the coming years, these prices are predicted to increase even more. The…

ThursdayDec 08, 2022 12:19 pm

Uber Calls on Drivers to Switch to EVs in Net-Zero Push

Uber has established a goal to transition to fully electric cars in Europe by the year 2030 and globally a decade later. To realize this, all of Uber's independent contractors must trade in their fuel cars for greener alternatives. Uber therefore has seven years to significantly restructure the vehicle configuration in its European operations, where currently less than one in 10 of its vehicles run on electricity. While some Uber drivers have welcomed the change, others are hesitant to make the switch because of the drawbacks associated with electric vehicles, which include higher initial costs, concerns about inadequate charging stations,…

WednesdayDec 07, 2022 1:43 pm

Report Says 13.6% of October Auto Sales in Europe Are EVs

The electric vehicle (EV) market in Europe grew by 14% in the month of October, marking the third consecutive month of growth. Therefore, it seems that the auto parts conundrum that plagued the EV industry is now resolved. However, this uptick might not last for long given the impending slump in the energy sector. The plug-in hybrid vehicle market was also thriving, with nearly 211,000 new vehicles registered in October, representing a 14% increase over October 2021. At the same time, there was a 25% increase in battery electric vehicles (BEV) registrations in October, amounting to 124,000 vehicles. Based on…

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Report Suggests Toyota Is Revising EV Strategy

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