NewsRoom Articles - Page 72 of 133

TuesdaySep 06, 2022 11:29 am

Electric Vehicles Claim 10% Share of Global July Vehicle Sales

Despite the challenges that hinder the growth of the nascent electric vehicle industry, EV adoption is steadily on the rise. More and more people are considering ditching their gasoline-powered cars for electric vehicles amid a global push to cut fossil fuel use. Data shows that registrations of plug-in electric cars were up by 61% worldwide this July compared to July 2021, with buyers registering a total of 778,000 vehicles. Furthermore, strong plug-in sales in July propelled the market share of plug-ins to reach a whopping 14%. Battery electric vehicles (BEVs) that are solely powered by rechargeable lithium-ion batteries saw their…

FridaySep 02, 2022 10:17 am

LG, Honda Partner to Establish $4.4B EV Battery Factory on US Soil

America may be home to some of the most prominent electric vehicle makers on the globe, but THE COUNTRY has made little headway in the EV battery segment. This segment has consistently been dominated by Asian players, with companies from China and South Korea supplying many of the world’s electric vehicle battery components. As such, the U.S. government is keen on breaking Asia’s stranglehold on the electric vehicle battery space by encouraging local battery production. A recently announced partnership between Japanese automaker Honda and South Korean battery manufacturer LG Energy Solution will increase local production of electric vehicles. Although the…

ThursdaySep 01, 2022 11:16 am

Four Obstacles to California’s Bid to End ICE Vehicle Sales by 2035

California has managed to cultivate the largest electric vehicle market in America in a few short years, hosting major EV makers such as Tesla, Rivian and Lordstown Motors while accounting for a significant percentage of EVs sold in America. As of the end of 2021, there were slightly more than one million electric vehicle units registered in California, more than any other state in the country. The Golden State is now planning on banning the sale of new internal combustion engine cars (ICE) by 2035 as part of its efforts to curb carbon emissions. A policy that will outlaw the…

WednesdayAug 31, 2022 1:10 pm

A Look at the Biggest EV Battery Makers in the World

Electric vehicles rely on rechargeable lithium-ion battery packs for energy, allowing the EVs to emit zero carbon at the tailpipe. But while the West has a major position in the global EV industry, with American automaker Tesla being the largest electric vehicle maker in the world, the EV battery game is dominated by Asian players. In fact, the largest seller of batteries for hybrid and electric vehicles is currently a Chinese company called Contemporary Amperex Technology Co. Ltd (CATL). CATL has pretty much dominated the EV battery market for the past few years, selling more batteries for EVs and hybrids…

TuesdayAug 30, 2022 12:12 pm

EV Charging Tweak Could Potentially Fill Battery in Approximately 10 Minutes

Although they are slated to replace internal combustion engine cars over the next few decades, electric vehicles still have to overcome a few challenges on their way to the top of the automotive space. One major challenge so far has been charging. While you can fill up a conventional gas-powered car with fuel and be on your way within minutes, it can take an hour or longer to recharge an electric vehicle. If you own a Tesla or have access to a supercharger network, you could bring this time down to around half an hour or less. Even though this…

MondayAug 29, 2022 11:59 am

Ford to Lay Off 3,000 Employees in Electrification Bid

Opponents to electric vehicles have long argued that ditching fossil-fuel-powered cars for EVs would have dire consequences on the people who earned their living in the automotive industry. The segment that would be most affected would be internal combustion engine manufacturing as automakers slow down the production of traditional cars in favor of zero-emission electric cars. An Ernst and Young study revealed that around 150,000 employees in the automotive industry are involved in internal combustion engine (ICE) manufacturing. American automaker Ford recently announced news that could potentially spell doom for hundreds of thousands of workers in ICE manufacturing, especially if…

FridayAug 26, 2022 12:04 pm

Analysts Foresee Growing EV Sales in Europe, But Doubts Remain

Electric vehicles are slated to become the next stage of vehicular travel as territories around the world strive to phase out internal combustion engine vehicles amid global efforts to cut emissions from transportation. Europe, China and the United States are currently the largest electric vehicle markets in the world, with consumers from these three top markets buying millions of electric cars over the past decade. Europe, where consumers have been especially receptive to alternative energy vehicles, has seen surging electric vehicle sales in recent months. EV analysts foresee increasing electric vehicle sales on the continent over the next couple of…

ThursdayAug 25, 2022 11:56 am

EVs Poised to Become Commonplace

Although automakers have sold millions of electric cars at this point, EVs are still an oddity on American roads, especially in nonurbanized regions. They make up a small percentage of vehicle sales, with the bulk of EV sales happening in states such as California and urban areas with more high-income earners and a higher density of public chargers. This disparity is primarily because of range anxiety and the high costs associated with buying an electric car. Even so, the U.S. government is keen on cutting emissions from the transportation sector by steadily phasing out internal combustion engine (ICE) cars via…

WednesdayAug 24, 2022 11:32 am

Michigan Automakers Hope Electric Muscle Cars Will Retain Enthusiasts

Even though automakers have pledged to invest billions of dollars over the next decade to develop new lines of electric cars, not every driver is willing to go electric due to a couple of factors. Price and range anxiety are currently the chief barriers to electric vehicle adoption in the country. Furthermore, electric vehicle companies will have a hard time breaking into the select group of drivers who prize muscle cars for their performance. Electric cars may have significantly greater torque and starting speeds, but conventional muscle cars still outshine them in numerous other regards. In Detroit, Michigan, automakers are…

TuesdayAug 23, 2022 11:42 am

Why Rivian’s Q2 $1.7B Loss Shouldn’t Worry Investors

Amazon-backed startup Rivian Automotive Inc. (NASDAQ: RIVN) recently announced that it had recorded a loss of $1.7 billion in Q2 2022 amid efforts to ramp up electric vehicle production and increase deliveries. The automaker’s losses for the second quarter of 2022 were more than double the $580 million it lost in the second quarter of 2021. During a call with investors, Rivian CEO RJ Scaringe said that the Irvine, California-based company was unable to effectively use its production line for a lot of the second quarter. He said that due to component supply issues, Rivian has been unable to run…

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