NewsRoom Articles - Page 75 of 130

ThursdayJun 09, 2022 3:24 pm

Report Says ICE Vehicle Sales Have Gone into Permanent Decline

It would seem that the age of the internal combustion engine is beginning to draw to a close. After being the main form of vehicle transportation for more than a century, ICE vehicles are poised to be replaced by zero-emission electric cars. According to a new report from Bloomberg New Energy Finance, sales of gas- and diesel-powered vehicles have taken a permanent nose dive as more people opt for plug-in hybrids and battery-electric cars. The report states that plug-in hybrid sales are expected to triple by 2024. Consumers will buy 20.6 million plug-in electric cars in 2025 compared to 6.6…

WednesdayJun 08, 2022 12:41 pm

The Chevy Bolt to Be Most Affordable EV on American Roads

More than a decade after EV maker Tesla launched the Roadster and kicked off the EV race, electric vehicles are still too pricey for the average consumer. Governments around the world have had to rely on subsidies, tax breaks and incentives to make electric vehicles slightly more affordable, and increase adoption. Industry stakeholders have posited that electric vehicles will be as cheap to produce as internal combustion engine vehicles within the decade, thanks to lower production costs. In a move that is sure to shake up the nascent EV industry, General Motors has announced that it plans to reduce the…

TuesdayJun 07, 2022 12:24 pm

Ford CEO Predicts Upcoming EV Price War

At the moment, only a small percentage of the population can truly afford to purchase an electric vehicle. The average EV costs at least $30,000 to $40,000, not to mention the cost of purchasing and installing a charger at home. For the past couple of years, governments across the world have provided discounts and incentives to reduce the cost of electric vehicles and increase sales. According to Ford CEO Jim Farley, that situation may come to an end. With the cost of manufacturing electric vehicles steadily reducing, Farley sees a price war on the horizon with the entry of $25,000…

MondayJun 06, 2022 2:33 pm

Chinese EV Manufacturer WM Motor Files for IPO in Hong Kong

Chinese electric vehicles startup WM Motor has announced plans to list on the Hong Kong Stock Exchange. This makes it the latest electric vehicle maker to list in Hong Kong city. Although the electric car maker didn’t reveal the amount of money it intends to raise in its initial public offering (IPO), sources say WM Motor has a target of around $1 billion. Electric vehicle stocks have become extremely attractive in the past couple of years as climate change has forced countries around the world to turn their eyes to cleaner sources of energy and transportation. Tesla, for instance, became…

FridayJun 03, 2022 11:42 am

Old ICE Vehicles Could Soon Be Used to Make Electric Vehicles

Researchers from Rice University in Houston, Texas, have come up with a novel process that has the potential to revolutionize recycling and sustainability in the nascent EV sector. At least 27 million vehicles are shredded across the world each year, with the United States accounting for 15 million of them. Most of these shredded vehicles are incinerated. In Europe, old vehicles are sent back to their manufacturers, which are required to recycle 95% of a vehicle and landfill just 5%. This is often too much for most manufacturers to handle, and they resort to scrapping the old cars. Now Rice…

ThursdayJun 02, 2022 2:46 pm

Lithium Could Decide Future of Electric Vehicles

While you may have forgotten about lithium the moment you left your high-school chemistry class, this metal is making more headlines today due because of the crucial role it plays in the push to switch from the internal combustion engine vehicles we have grown up seeing to electric vehicles that don’t give off any emissions at the tailpipe. To show how valuable this metal has become, its price has skyrocketed by 432% year-on-year, reaching a milestone in April this year. For comparison purposes, lithium carbonate cost about $11,000 a metric some six years ago, but it now costs $62,000. That…

WednesdayJun 01, 2022 2:50 pm

GM Applies to Patent Dual Charging Ports

The auto manufacturing giant General Motors recently filed a patent application with respect to the dual charge ports that its electric vehicles now feature. This ability to use two chargers to charge a battery at the same time was made possible by the company’s latest battery design in which the battery pack is divided into two modules. Those two parts of the battery can be connected either in series or in parallel, depending on the power needs at a given time. Now GM wants to charge those two sides of the battery at the same time, potentially collapsing the time…

TuesdayMay 31, 2022 3:18 pm

Electric Vehicles Cost Less Than ICE Vehicles on a Monthly Basis, Study Says

In terms of monthly payments, insurance, maintenance and fuel, the total cost of owning an electric vehicle on a monthly basis is significantly lower than the corresponding cost of an internal combustion engine (ICE) vehicle, according to a recent study. It isn’t surprising that many motorists get sticker shock when they see the price tag of most electric vehicles. This is understandable given that generally speaking, the most affordable electric vehicle costs approximately twice as much as the most affordable gasoline or diesel-fueled vehicle. However, the recent study suggests that motorists should look at a different metric when comparing ICE…

TuesdayMay 31, 2022 10:30 am

Mullen Automotive Inc. (NASDAQ: MULN) Working to Alleviate Consumer Anxiety by Offering EVs with 600-Plus Mile Range

J.D. Power survey reports range was factor most cited in deciding what EV to buy Mullen is making significant strides toward producing vehicles that feature some of the longest ranges available in the EV space Recognizing the critical role of battery and range in the success of an EV, Mullen is exploring other advanced battery technologies One of the challenges preventing enthusiastic acceptance of electric vehicles is range anxiety, fear that an electric car will run out of battery or fuel before the driver can reach their destination or a charging station. The concern is valid — a January 2022…

FridayMay 27, 2022 1:16 pm

US EV Charging Infrastructure Market Expected to Grow to $49B by 2030

According to a recently released report by Research & Markets, the market for electric vehicles’ charging networks within the United States is anticipated to grow at a CAGR of 36.9% from 2022 through 2030 to reach a market value of $49 billion. The report points out a number of general factors driving this growth in the period subject to the forecast. These factors include the growing concern about protecting the environment by reducing emissions from vehicles, as well as advances being made in charging technology and the ability to get real-time information about the nearby charging stations. Among the bottlenecks…

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