NewsRoom Articles - Page 70 of 122

WednesdayMay 04, 2022 3:24 pm

Tesla Slashes Price of Home Chargers After Removing Them from New EV Purchases

Tesla Inc. (NASDAQ: TSLA) recently slashed the price of a pair of its home chargers. This comes after it removed the chargers, which had been included with the new cars being delivered. The auto manufacturer then included the chargers in its online configurator in an effort to remind new consumers to purchase one during vehicle purchases. Since it was established, the automaker had been including a mobile charger with every new vehicle it delivered. However, Tesla CEO Elon Musk claimed recently that the company had usage statistics that showed that the use of these chargers wasn’t very high. This claim…

TuesdayMay 03, 2022 3:20 pm

Invesco Launches EV Metals-Focused ETF Amid Energy Transition

Invesco, an independent investment management firm, recently launched its EV Metals ETF earlier last week. This comes as forecasts call for more metals required for the transition to renewable energy use in an effort to decrease dependence on fossil fuels. The exchange-traded fund, which is officially referred to as the Invesco Electric Vehicle Metals Commodity Strategy No. K-1 ETF, is trading under the EVMT ticker. It holds futures contracts tied to iron ore, aluminum, zinc, copper, cobalt and nickel. The company is betting that the increasing interest in electric cars will create a new trading opportunity in the metals needed…

MondayMay 02, 2022 2:09 pm

ICE to EV Conversions Are Growing, But Waitlists Are Long

Interest in electric cars has significantly risen these last few months as concerns about pollution and climate change increase and the price of gasoline continues to soar. However, the hiccups affecting the electric car supply chain have led to shortages of new electric cars. This has in turn led to an increase in prices for used EVs. Specialty Equipment Market Association head Mike Spagnola stated that these shortages would make the conversion of internal combustion engine cars to electric cars become more popular, particularly for classic vehicle owners, noting that this market would grow considerably this year. Spagnola explained that…

FridayApr 29, 2022 12:56 pm

Montreal Electric Car Show Highlights Increase in Demand for EVs

This past weekend, the Montreal Electric Vehicle Show was held at the Olympic Stadium in this Quebec town. The stadium’s floor was filled with thousands of individuals who were testing and checking out various hybrid or electric vehicles on the market. Individuals were also allowed to test a number of scooters and electronic bikes on the indoor track. Interviews show that attendees were concerned about abouth the environmental impact of gas-powered cars as well as how their lifestyles could become more sustainable. This, coupled with the climate change crisis, has prompted many to make the switch to using electric cars.…

ThursdayApr 28, 2022 2:04 pm

Lucid Motors Uses Silicon Carbide Tech in New Model

Earlier this week, Wolfspeed announced that Lucid Motors (NASDAQ: LCID) had used its silicon carbide power device solution in its pure-electric high-performance vehicle, Lucid Air. Wolfspeed is a major player in silicon carbide technology, leading the market in the global adoption of GaN and silicon carbide technologies. The company offers industry-leading solutions for a sustainable future and efficient consumption of energy. Wolfspeed is party to an agreement with Lucid Motors involving the production and supply of silicon carbide devices. Lucid Motors chief engineer and senior VP of production, Eric Bach, stated that the automaker’s proprietary powertrain technology was what made…

WednesdayApr 27, 2022 1:22 pm

How the Lithium Shortage Is Affecting the Electric Car Market

Many car manufacturing companies are taking part in the 2022 Austin Auto Show where they are showcasing their electric cars. Most of the electric vehicles on the show’s floor are already limited in availability, with the spokesperson for Ford revealing that its F-150 model has more 100,000 orders, despite not having been released yet. The 2022 Niro electric vehicle by Kia is also on display. This limited production model is only sold in a number of states in specific retailers. EnergyX CEO and Founder Teague Egan has argued that the lithium scarcity in the market may be a major cause…

TuesdayApr 26, 2022 2:24 pm

EV Makers Intensify Quest for Raw Material Supplies for Batteries

As the world replaces the use of fossil fuels with more renewable sources of energy, the demand for electric vehicles is increasing. Manufacturers of electric cars are currently focused on securing supply for the raw materials needed to make batteries because batteries are the single biggest cost factor on EVs. Below, we look at some of the agreements major auto manufacturers have entered into with miners and suppliers. Toward the end of last year, Volkswagen entered into an agreement with Vulcan Energy Resources, which involves the provision of lithium hydroxide to the automaker from 2026. Vulcan extracts lithium from the…

MondayApr 25, 2022 11:40 am

CBS Poll Shows High Fuel Prices Are Driving Interest in EVs

A recent survey has found that about one-third of adults in America would consider purchasing an electric vehicle if they were in the market for a car. However, roughly 40% admitted that they wouldn’t consider the purchase of an electric car. The survey was carried out by CBSNews/YouGov, with a sample of 2,062 adult residents in the United States. The interviews were conducted between April 5–8, 2022. Those surveyed cited the increasing price of gas as a major reason for wanting electric cars, coupled with the belief that electric cars were better for the environment. Overall, however, higher gas prices…

FridayApr 22, 2022 11:40 am

How Electric Car Batteries Are Being Upgraded to Address New Needs

The lithium-ion battery was a groundbreaking invention that revolutionized the world and hastened the emergence of the electronics age. These days, almost every electronic device from watches and mobile phones to tablets and computers is powered by a battery. Now that several governments across the world have revealed plans to steadily replace internal combustion vehicles with zero-emission electric vehicles, batteries are poised to play a significant role in another revolution: the electrification of our transport sector. Depending on the type of battery chemistry used coupled with the size of the battery, an EV battery can take anywhere from 20 minutes…

ThursdayApr 21, 2022 2:44 pm

EVs Claim Bigger Market Share, Break 2021 Sales Record

As the world continues to fight climate change by striving to meet its climate targets, the need to reduce the consumption of fossil fuels grows. Even with the adoption of low-carbon technologies, however, the use of electric cars is crucial in helping to decrease emissions in the transport sector. This helps explain the increase in automobile brand models and investments in this area. Over the last decade, the market share of electric cars around the globe has grown more than 40 times, reach 8.3%. In 2021, electric car sales reached $6.7 million, which is quite an increase from the sales…

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