NewsRoom Articles - Page 75 of 126

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…

WednesdayApr 20, 2022 12:24 pm

Electric Vehicles Dominate Latest World Car Awards

Zero-emission vehicles have all but dominated the conversation in the automotive sector for the past couple of years. As extreme weather events continue to ravage parts of the world, several territories have resolved to replace the fossil fuel vehicles on their roads with electric cars and reduce their carbon emissions. Carmakers have taken to electrification in a big way, pouring billions of dollars into electric cars and pledging to invest even more over the coming years. Even though EVs still make up less than 1% of all vehicles, plenty of electric vehicle models on the road debuted to rave reviews.…

TuesdayApr 19, 2022 3:15 pm

Honda Bets Big on Hybrid Vehicles

With several territories across the world planning to phase out internal combustion engine cars in favor of zero-emission electric vehicles, most carmakers are hedging their bets on electric vehicles. Rising greenhouse gas emission levels coupled with climate change have underscored the need for clean, emission-free transportation. Since EVs run on electricity and produce zero emissions at the tailpipe, they are a good replacement for fossil fuel vehicles. As such, automakers have invested billions of dollars in developing electric vehicles in the past couple of years and plan to spend billions more through the decade. Japanese carmaker Honda has chosen to…

MondayApr 18, 2022 11:39 am

Chinese EV Maker NIO Increases Prices, Announces Production Halt

Like many companies across the world that rely on the global supply chain, Chinese electric vehicle maker Nio has revealed that it has been hit hard by the supply chain disruption caused by the coronavirus pandemic. Over the weekend, Nio announced that it would be raising the prices of the three electric SUVs it has on the market and halt production in the meantime. Nio’s shares fell by almost 9% following the announcement. Beginning May 10, Nio will increase the prices of its EC6, ES6 and ES7 by $1,572 (10,000 yuan). However, the recently unveiled ET5 and ET7 sedans will…

ThursdayApr 14, 2022 3:52 pm

Expert Shares How to Maximize Value from EV Batteries

If you are considering purchasing an electric vehicle in the near future, it is important that you learn how to take care of your vehicle’s battery. Unlike conventional cars that are powered by internal combustion engines, zero-emission electric cars run on rechargeable lithium-ion batteries. Nickel-manganese cobalt batteries are also gaining popularity. Taking care of your EV’s battery will be integral to maximizing your range and increasing the vehicle’s lifetime. According to Qichao Hu, an MIT and Harvard alumn who founded battery-research firm SES, most electric vehicles use lithium-ion batteries. He has been studying batteries since President Barack Obama was in…

WednesdayApr 13, 2022 2:47 pm

Musk Says the Cybertruck Will Hit the Market Next Year

Elon Musk didn’t just turn heads when he first unveiled the Tesla Cybertruck back in November 2019, he shocked the entire world. Featuring a futuristic angular design and a stainless steel body, the electric pickup looked like something out of a science fiction movie. However, the Cybertruck’s reveal was marred by something quite comical. In an effort to show the electric pickup truck's toughness, a Tesla Inc. (NASDAQ: TSLA) designer lobbed a metal ball at a window, which promptly broke. Speaking at the opening of Tesla’s new factory near Austin, Texas, Musk joked that they would “smash the window again”…

TuesdayApr 12, 2022 2:04 pm

Biden Government Hosts Musk and Barra During EV Sector Meeting

Months after he assumed office, President Joe Biden revealed plans to significantly electrify America’s transportation sector. His infrastructure bill will invest billions of dollars into building a network of public electric vehicle chargers and subsidizing EV purchases. In line with the president’s green-energy and electrification goals, senior officials from the Biden administration recently met up with major figures in the automotive sector to discuss electric cars and charging. According to the administration, the Wednesday meeting involved automotive leaders such as Elon Musk, Tesla’s chief executive, and General Motors chief executive Mary Barra. Aside from the Tesla and GM executives, Lucid…

MondayApr 11, 2022 2:42 pm

Hertz Inks Agreement to Buy 65,000 EVs from Polestar

Swedish electric vehicle maker Polestar has signed a deal that would see it deliver tens of thousands of vehicles over the next couple of years to car rental company Hertz. First starting out as a racing team that helped Volvo during the 1996 Swedish Touring Car Championship, Polestar pulled away from Volvo in 2017 and became a company that built and sold luxury electric vehicles. This isn’t the first time the American rental company has had dealings with electric vehicle companies; in October 2021, Hertz ordered 100,000 EVs from Tesla. The move heralded Hertz's foray into the electric vehicle segment…

FridayApr 08, 2022 3:04 pm

Lucid Motors Ramps Up Marketing to Increase Awareness of Its EVs

More than a decade after the Tesla Roadster launched and proved that electric vehicles were commercially viable, the nascent electric vehicle industry is slowly filling up with competition. Gone are the days where the only player in the EV game was Tesla; legacy auto makers and several EV startups have now thrown their hats into the ring in a bid to snag a portion of the lucrative electric vehicle market. Lucid Motors (NASDAQ: LCID), an electric vehicle manufacturer initially founded in 2007 that unveiled its first EV in 2016, has launched widespread marketing efforts. Lucid’s first offering — the Lucid…

ThursdayApr 07, 2022 2:52 pm

Will Tesla Succumb to Legacy Automakers’ Onslaught into EV Space?

For more than a decade, California-based EV company Tesla has been the dominant player in the nascent electric vehicle market. After launching the original Tesla Roadster back in 2008, Tesla was the first company to begin mass producing electric vehicles, and by 2021, it had eclipsed most major car makers in value. However, Tesla’s monopoly on the electric vehicle industry will soon be threatened as legacy automakers invest more into developing and selling EVs. As governments across the world set increasingly strict emission standards and deadlines to ban the sale of new combustion engine vehicles, legacy automakers will adopt electrification…

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