NewsRoom Articles - Page 60 of 128

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…

TuesdayDec 06, 2022 1:06 pm

Drivers Turn in Hondas, Toyotas in Exchange for EVs

Since the introduction of electric vehicles, more people are showing increasing interest in buying them to the extent of ditching their favorite gas-powered brand for electric vehicles. As a result, Toyota and Honda, which have been slow in transitioning, are losing their devoted customers to companies that are already fully electrifying. Ford and General Motors, along with Hyundai, are replacing Toyota and Honda's gas-powered vehicles with new electric vehicles, as Tesla maintains its position as a leading car manufacturer. Tesla once had nearly complete control of the market for electric vehicles in the United States, but it eventually lost some…

MondayDec 05, 2022 1:00 pm

European Manufacturers Could Soon Suffer for Neglecting Lower-Priced EVs

When electric cars were introduced, the rich couldn't wait any longer to drive the new cars, without even considering potential drawbacks. This attitude made it simple for the vehicles to penetrate the market in western Europe. However, manufacturers in Europe need to resolve the issues concerning price and driving distance in order to preserve this market. Otherwise, there appear to be far too many negative consequences. Western Europe has already seen a decline in EV sales, which currently stand at 1.5 million units, or 14.5% of the market. Due to economic uncertainty and problems with the distribution network, this trend…

FridayDec 02, 2022 12:04 pm

Why Insuring an EV Differs from Insuring an ICE Vehicle

As the market for electric vehicles expands, more people are purchasing EVs. It is crucial that your electric vehicle be insured, just like any other type of vehicle; nevertheless, you must keep in mind that the insurance coverage offered for nonelectric automobiles is different from that for electric vehicles. The argument is that electric vehicles are expensive cost wise and might be more prone to damage, so repairing them will cost more money when compared to regular vehicles. As a result, insurance plans offered by insurance companies for each of the vehicles differ. The following are some examples of what…

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