NewsRoom Articles - Page 66 of 122

WednesdayJun 29, 2022 12:52 pm

New Report Shows EV Inputs Doubled in Price During COVID Pandemic

Electric vehicles may see a significant reduction in adoption after the coronavirus pandemic led to a significant increase in EV raw material costs. According to a new AlixPartners report, the cost of crucial electric vehicle inputs increased by more than 100% during the pandemic and subsequent lockdowns, forcing automakers such as Tesla and General Motors to hike the prices of their new vehicles. The increased production costs are partly due to the increase in cobalt, nickel and lithium prices. These metals are currently quite rare in supply and are integral to building electric vehicle and truck batteries. AlixPartners states in…

TuesdayJun 28, 2022 1:42 pm

EV Battery-Management Market Predicted to Exceed $17 Billion in 2030

As we transition from fossil-fuel-powered vehicles to zero-emission battery electric cars, the need for efficient electric-vehicle battery-management systems (EVBMs) will increase exponentially. Data from the latest issue of Reports and Data shows that the EVBMS market is poised to grow at a compound annual growth rate (CAGR) of 15.2% and reach a whopping $17.13 billion by 2030. This growth will be supported by rising demand for alternative energy vehicles such as EVs. With several countries across the world pledging to phase out internal combustion engine vehicles (ICE) in favor of electric cars, we will see the number of electric vehicles…

TuesdayJun 28, 2022 12:00 pm

Mullen Automotive Inc. (NASDAQ: MULN) Retrofits Existing Facility to Move EV Battery Pack Production In-House

Global EV market projected to see 24.5% CAGR between 2022 and 2028 MULN announces plans to modify high-voltage plant to produce packs used for company’s EVs Company anticipates using its own revolutionary solid-state battery technology in its second-generation Mullen FIVE EV Crossovers Strategic move reduces company’s reliance on third-party suppliers, reduces impact of supply and critical component shortages Amid a growing global demand for electric vehicles (“EV”), smart companies operating in the space are looking for ways to differentiate themselves from the competition. That’s exactly what Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle manufacturer, has done with its recently…

MondayJun 27, 2022 2:55 pm

Toyota Hits Back at Critics of Its EV Production

Unlike most major automakers, Japanese car giant Toyota has barely made any inroads into the young but rapidly growing electric vehicle sector. Aside from a line of plug-in hybrids, including the Toyota Prius, Toyota has not revealed any concrete plans to develop battery electric vehicles in the near future. Instead, the world’s largest carmaker seems to have hedged its bets on hydrogen fuel cells and hybrid technology. Toyota’s investment in hydrogen fuel cells has also been met with criticism from experts who believe hydrogen-powered cars are not a feasible option. Toyota has now pushed back against such criticism, stating that…

FridayJun 24, 2022 2:07 pm

Why Charging Wirelessly Is Crucial for EV Adoption

Limited access to charging infrastructure is still one of the main hurdles to mass electric vehicle adoption. At the moment, the United States has more than 46,000 public EV chargers, a far cry from the million public chargers the country will need to support mass EV adoption. Emerging technologies such as wireless charging could help bridge this gap and allow more people to transition to zero-emission electric cars. Wireless or induction charging has been around since the late 1970s but has gained popularity in recent years as OEMs develop mobile phones and laptops capable of charging wirelessly. In simple terms,…

ThursdayJun 23, 2022 10:53 am

Car Rental Sector Races to Transition to Electric Vehicles

Although automakers and governments around the world are poised to invest billions of dollars into developing electric vehicles and the required infrastructure, the transition from internal combustion engine vehicles to zero-emission electric vehicles will take quite a while. Electric vehicles are still too expensive for the average consumer, and with the global economy declining, costly EVs will be the last thing on many people’s minds. Fleets, on the other hand, are not constrained by many of the factors that prevent lone drivers from transitioning to electric vehicles in the near term. As such, fleet managers such as the billion-dollar car…

WednesdayJun 22, 2022 3:31 pm

Volkswagen Could Upstage Tesla as Top EV Seller, Report Says

Tesla’s position as the top producer of electric vehicles in the world could soon be threatened by Volkswagen Group in the near future as the German automaker ramps up the production of several EV models under its subsidiaries. Volkswagen has considered Tesla Inc. (NASDAQ: TSLA) a rival for years, announcing its intention to surpass Tesla in sales and become a major electric vehicle manufacturer on a global scale. A new report from Bloomberg Intelligence has revealed that Volkswagen’s plans could come to fruition in 2024, just less than two years from now. The analysis shows that Tesla and Volkswagen will…

TuesdayJun 21, 2022 10:09 am

California Company Demonstrates New EV Battery Charging in Under 10 Minutes

A California-based company has unveiled a new electric vehicle battery technology that would allow EV owners to fully charge their EVs in under 10 minutes. Developed by Evonix, these battery cells are capable of charging from zero to-80% in only 5.2 minutes and up to 98% capacity in not more than 10 minutes. Evonix’s novel battery cells were also able to retain a whopping 93% of their capacity after more than 1,000 charging cycles. These figures are unprecedented in the EV battery space and have shattered the 80% charge in 15 minutes target set by the United States Advanced Consortium…

FridayJun 17, 2022 12:10 pm

Electric Vehicle Manufacturers Ask Congress to Reconsider EV Tax Credit Cap

Although the electric vehicle industry is poised to experience significant growth over the next couple of decades as more people ditch their combustion engine cars for EVs, affordability remains a major problem. A majority of American families simply cannot afford to buy an electric vehicle, and a significant percentage of EV owners had to rely on government subsidies and incentives to buy their EVs. With lithium ore prices on the rise, the supply chain in disarray and the computer chip shortage still continuing, EV production costs are only going higher. For electric vehicles to become as affordable as regular gas-powered…

ThursdayJun 16, 2022 3:46 pm

Lucid Motors Announces Digital Platform to Facilitate EV Financing

American electric car maker Lucid Motors (NASDAQ: LCID) has unveiled a digital financing platform dubbed Lucid Financial Services to provide Air EV customers in America with leasing and loan purchase options. Lucid Motors has partnered with the Bank of America to provide the financing options. Lucid Motors first announced that production on the Lucid Air EV had begun in September 2021 with deliveries expected to begin in late 2022. Despite struggling to meet production targets because of supply chain constraints coupled with recalls, Lucid’s Air EV has been met with positive reviews. At the moment, the Newark, California-based company is…

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