NewsRoom Articles - Page 74 of 133

TuesdayAug 09, 2022 1:45 pm

Li Auto, NIO Shares Jump as July Sales Figures Are Released

China is a major player in the electric vehicle market, with Chinese automakers selling around 2.9 million electric vehicles and even surpassing EV juggernaut Tesla. Li Auto and NIO, two Chinese electric vehicle startups that have seen increased sales in recent months, saw their share prices rise after they revealed a rise in their July electric vehicle deliveries. NIO Inc. (NYSE: NIO), which is based in Shanghai, said that it delivered 10,052 EVs in July, an increase of 26.7% compared to sales in July 2021 but less than the nearly 13,000 EVs it sold in June. Li Auto, on the…

TuesdayAug 09, 2022 9:00 am

Mullen Automotive Inc. (NASDAQ: MULN) Signs ‘Milestone’ Agreement with Amazon Delivery Partner for Fleet of EV Vans

Mullen signed a binding agreement with DelPack Logistics for up to 600 Mullen Class 2 Electric Cargo Vans The agreement “puts our Class 1 cargo van program front and center for last-mile delivery opportunities,” says Mullen CEO A recent study indicated the last-mile delivery market in North America is projected to see incremental growth of $59.81 billion between 2020 and 2025 In the competitive electric vehicle (“EV”) world, Mullen Automotive (NASDAQ: MULN) stands apart. The Southern California–based company owns and partners with several synergistic businesses to create clean and scalable electric vehicles and energy solutions. The company’s ability to reach this goal can perhaps be…

MondayAug 08, 2022 2:16 pm

Data Shows a Few States Dominate US EV Adoption

America’s electric vehicle industry is still in its infancy. Electric cars still make up a small percentage of total vehicle sales in the country, and most experts agree that it will take some time before there are enough EVs on the road to offset carbon emissions from internal combustion engine (ICE) cars. This is primarily because electric vehicles are too expensive for the average consumer and the country’s public charging network still needs a lot of work. Furthermore, EV adoption has mainly been limited to a handful of states that have decent EV charging networks and have provided buyers with…

FridayAug 05, 2022 10:22 am

Recycling Programs Stay on Ice as EV Batteries Outlast Predictions

As more territories pledge to transition their road transport systems to electric vehicles and automakers invest billions of dollars into developing new EVs, one question has been on many people’s minds. What will we do with all these electric vehicle batteries when they reach the end of their lives? The answer has been recycling programs that could recover up to 90% of an EV battery cell for commercial activity once its life on the road was over. However, a recent report from Forbes has revealed that EV batteries are so long-lasting that they are delaying battery recycling programs. The idea…

FridayAug 05, 2022 9:00 am

Mullen Automotive Inc. (NASDAQ: MULN) Anticipates Strongest Balance Sheet Ever as EV Industry Projected to See Double-Digit Growth

A recent Facts & Factors study reported that the global EV market is expected to pass $980 billion by 2028 Mullen posted the strongest balance sheet in company history for the quarter ended June 30, 2022 The company noted several key milestones in its journey to becoming a major presence in the EV world If Mullen Automotive (NASDAQ: MULN) latest financial report is any indication, the double-digit growth projected for the electric vehicle (“EV”) industry is right on the money. The emerging electric vehicle manufacturer posted a record balance sheet for the quarter ended June 30, 2022 (https://ibn.fm/RmJq8). A recent…

ThursdayAug 04, 2022 12:30 pm

CNN Road Trip Shows Charging Infrastructure, Not Range Is Major Constraint to EV Adoption

A reporter from CNN recently went on an EV road trip, which proved that insufficient charging infrastructure rather than small EV batteries and range anxiety is a major barrier to electric vehicle adoption. After traveling 950 miles across several states in an EV, the CNN reporter concluded that developing a network of convenient and reliable charging stations is the solution, rather than developing EVs with larger battery packs and more range. Peter Valdes-Dapena drove a Mercedes-Benz EQS 450+ from New York City to Atlanta, covering around 950 miles. Although the EQS has an estimated range of 350 miles on a…

WednesdayAug 03, 2022 11:18 am

Proposed Law Seeks to Remove EV Tax Credit Limit on Manufacturers

Electric vehicles are too expensive for most consumers to purchase outright. As such, the U.S. government provided subsidies to EV buyers to make them more affordable and increase EV adoption. More specifically, EV buyers were eligible for up to $7,500 in incentives. After each automaker sold 200,000 vehicles with the incentives, subsequent units would not be eligible for the assistance. The automotive industry has asked the government to remove the 200,000 EV cap because it has the potential to significantly hinder EV adoption. Democrats have now introduced legislation to eliminate the cap on EV incentives and extend the incentives through…

TuesdayAug 02, 2022 1:06 pm

Average EV Prices Cross $66,000 in America as Electrification Challenges Escalate

Electric vehicles have always been expensive. The first Tesla Roadster cost more than $100,000, and more than a decade later, the average electric vehicle is still more expensive than a comparable gasoline-powered car. Experts predicted that EV prices would reduce over the next few years as production costs came down, with EVs eventually becoming as affordable as internal combustion engine (ICE) vehicles. However, average electric vehicle prices have actually increased in the past year, going up by more than 14% year-over-year to $66,000 in June. As electric vehicles were already out of reach for most consumers, even with available state…

MondayAug 01, 2022 10:08 am

New Jersey to Fork Out Millions to Boost Switch to EVs

The race to electrify the road transport network is on. The Biden administration has provided $5 billion for the development of a nationwide network of public electric vehicle chargers, and automakers have pledged to spend billions of dollars developing new electric vehicle models over the next decade. However, the high prices of most EV models prevent a significant portion of the population from ditching their internal combustion engine (ICE) cars and going electric. To help offset these costs and reduce the financial burden on buyers, the state of New Jersey will provide millions of dollars in financial incentives to EV…

FridayJul 29, 2022 11:11 am

Ford Ramps Up Battery Production to Meet EV Production Targets

American automaker Ford Motor recently announced that it has reached an agreement with a Chinese supplier to acquire electric vehicle batteries as part of its efforts to ramp up global EV production. The Michigan-based company plans on investing billions of dollars across three states to ramp up the production of new electric vehicles over the next few years. Naturally, this will increase Ford’s demand for EV batteries exponentially. As per its new agreement, Ford will source electric vehicle batteries from the Chinese firm Contemporary Amperex Technology Company Limited (CATL), currently the largest producer of batteries on the globe. This means…

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