NewsRoom Articles - Page 81 of 130

ThursdayMar 24, 2022 3:48 pm

Survey Reveals US Auto Dealers Aren’t Sold on Electric Vehicles

A new report reveals that U.S. car dealers are not happy with the Biden administration's direction in the auto industry. According to the Dealer Outlook Survey for 2022, dealers have aired complaints affecting the industry including the president’s plan to boost sales of electric vehicles. The survey was released by Automotive News and relied on data from 196 car dealers and dealership managers. Despite last year’s record profits, car dealers are reluctant in praising the president’s call for an EV transition. In fact they are saying that the current administration has had a negative effect on their businesses. The majority…

WednesdayMar 23, 2022 11:25 am

Increasing Nickel Prices Worsen EV Supply Chain Woes

The dramatic increase in nickel prices is raising concerns of electric car makers. Last week, the price of nickel increased by almost 250% to about $100,000 per ton, and as a result the London Metal Exchange halted trading of the base metal for that entire day. Electric vehicle (“EV”) producers are dealing with mineral supply chain disruptions leading them to struggle to maintain sustainable production costs. Now with the war in Ukraine, Russia is facing sanctions that have included the U.S. ban of oil and gas imports. In retaliation, Russia banned exports of more than 200 products. As a result…

TuesdayMar 22, 2022 12:43 pm

General Motors Co. (NYSE: GM) to Conduct Tests of EVs as Home Power Backup Systems

Last week, General Motors (NYSE: GM) announced that it would be partnering with Pacific Gas & Electric (PG&E) to test the use of electric cars in powering a home during an outage. The programs come at a time that climate change is driving conversations on energy efficiency as more companies invest into battery electric vehicles (“BEVs”). The test is expected to take place by this summer in northern and central California. Last year, GM announced that it would phase out the production of diesel- and gasoline-powered vehicles by 2035 as the company continues to grow its focus on EVs. According…

MondayMar 21, 2022 12:40 pm

Environmental Groups Urge California to Enforce Stricter Emissions Rules

Last week, more than eight environmentalists and organizations wrote a letter to California Governor Gavin Newsom asking him to enforce stricter emission regulations. According to Scott Hochberg whose organization Center for Biological Diversity’s Climate Law Institute co-signed the letter, Californians deserve an electric future as the residents deal with the highest gas prices in the nation with gasoline costing $5 per gallon. The environmental groups and organizations want the governor and the state air regulators to support efforts that will increase electric vehicles (“EVs”) and set higher annual emissions reductions for internal combustion engine (“ICE”) vehicles. They want 7% annual…

FridayMar 18, 2022 3:35 pm

Panasonic Searches for Possible Sites to Set Up US Battery-Making Factory

Panasonic Corp. is scouting for places to set up its U.S. factory, which will supply automaker Tesla with batteries. The company is looking for locations in Oklahoma and Kansas to manufacture 4,680 cells. This initiative could potentially lead to supplying other car manufacturers with the same batteries. Panasonic has been a longtime Tesla supplier, and the project is expected to start in 2024. This is a significant step for the company, which is facing high demand for its batteries. It will also help Panasonic catch up with its competition, such as South Korea’s LG Energy Solution and China’s Contemporary Amperex…

ThursdayMar 17, 2022 1:34 pm

Automakers Record Low Inventories While Consumer Interest in Electric Vehicles Increases

The attack on Ukraine by Russia has created a crunch for the electric vehicle industry. The war has led to a sudden spike in gasoline prices just as electric car makers are looking to fulfill their inventory of greener vehicles. Within the last two weeks, Tesla has received approval to set up a battery factory in Germany while Honda, Ford and Stellantis have announced that they are increasing their rates of electric vehicle production. The skyrocketing oil price is the highest it has been in the last 14 years. The surge is expected to drive consumer interest in favor of…

WednesdayMar 16, 2022 1:12 pm

New Inverter Could Make EVs More Efficient

An engineering developer based in the United Kingdom has released an inverter that has received praise for its compact design. Equipmake took an innovative approach by releasing its next generation HPI-800 inverter, which utilizes silicon carbide technology that makes an electric vehicle more efficient. An inverter is a vital component in the operation of electric vehicles (“EVs”). It converts the high voltage DC charge stored in the batteries to multiphase AC current in order to drive the electric motor. In addition, an inverter regulates the speed of the motor by adjusting the frequency of the AC charge similar to the…

TuesdayMar 15, 2022 2:07 pm

Is It Safe to Recharge Your EV While It’s Raining?

The switch to electric vehicles (“EVs”) is not only good for the environment but also beneficial to the owner. A recent study by JD Power revealed that first-time buyers were satisfied with their ownership experiences. This is because in comparison to internal combustion engine (“ICE”) cars, electric vehicles are energy efficient and smoother to run. Moreover, fueling their vehicles is cheaper because they use electricity to charge their batteries. As a result, more EV owners are investing in home charging options because of the convenience. According to research firm Juniper Research, electric car owners spent $3.4 billion on home charging…

MondayMar 14, 2022 1:05 pm

Honda (NYSE: HMC), Sony (NYSE: SONY) Plan EV Joint Venture to Challenge Tesla Inc. (NASDAQ: TSLA)

Honda (NYSE: HMC) and Sony (NYSE: SONY) are coming together through a joint partnership that will see them produce electric cars together. As the demand of electric vehicles (“EVs”) continues to grow, the Japanese companies will be challenging Tesla (NASDAQ: TSLA) and other traditional automakers as well as Chinese manufacturers. Last week, both of the companies' corporate executives told reporters that they would test the waters with the venture on the public market. This comes after EV manufacturers including Tesla achieved high valuations in technology stocks. The partnership emphasizes Japan's effort in growing its domination in the EV sector. Last…

FridayMar 11, 2022 12:44 pm

Tesla Inc. (NASDAQ: TSLA) Signs Supply Agreement with Australian Lithium Producer

Last week Tesla (NASDAQ: TSLA) entered into an agreement with a lithium producer over a term of four years. Core Lithium is an Australian company that will supply the electric carmaker with almost 110,000 tons of lithium spodumene. These transactions come at a time when battery metals such as nickel, lithium and cobalt are facing a rise in demand due to the transition to electric vehicles as the world looks to cut down on carbon emissions. Core Lithium is thrilled with the partnership and is optimistic about growing its future working relationship with Tesla. According to Stephen Biggin, the company’s…

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