Search Results for: NIO

American automaker Ford is scaling back plans to build a massive electric vehicle plant in Michigan amid rising labor costs and decreasing demand for electric vehicles. Consumer demand for electric vehicles has dropped significantly in recent months, thanks to high EV costs coupled with rising interest rates. These issues are forcing automakers such as Ford … Continue reading “Ford Dials Back its EV Battery Production Plans Amid Dropping Demand, Rising Labor Costs”

The auto vehicle leasing industry may be instrumental in pushing electric vehicle penetration in the European Union by allowing tens of millions of households to tap into the growing used-EV market. Experts predict that at current electrification rates, EV units from today will hit the used vehicle market about 2035, giving 33 million EU households … Continue reading “The Leasing Industry Could Help in Availing Used EVs, Deepening EV Penetration”

Oil giant Exxon Mobil has announced the acquisition of a drill operation in Arkansas that will expand its efforts to enter the lithium production side of the electric vehicle supply chain. The oil and gas company plans on producing lithium, a mineral critical to the development of electric vehicle batteries as soon as 2027. Exxon … Continue reading “Exxon Mobil Acquires Drill Operation in Arkansas to Process Lithium”

After years of equipping their electric cars with increasingly larger touch screens, EV makers are turning back to physical buttons amid a phenomenon dubbed “screen fatigue.” While touchscreens were instrumental in changing how we interact with various technologies, it seems the technology doesn’t quite meld with electric vehicles. Carmakers have spent the past couple of … Continue reading “EV Makers Switching to Buttons as Motorists Experience ‘Screen Fatigue’”

A source with knowledge on the matter has revealed that American automaker Tesla Inc. (NASDAQ: TSLA) is planning to build a $27,000 electric vehicle in a facility near Berlin. Tesla has long promised to deliver an affordable electric vehicle for the masses, and the upcoming EV is likely part of Tesla’s goal to make its … Continue reading “Tesla Plans to Manufacture $27,000 EV in Berlin”

German automaker Mercedes says the electric vehicle market is becoming increasingly “brutal” for automakers, forcing many to cut vehicle prices amid intense competition. While Tesla has been the most dominant player in the global EV industry for almost a decade, with  established automakers and startups are quickly catching up to the Texas-based automaker. China and … Continue reading “Mercedes Calls EV Market ‘Brutal,’ Expects Squeezed Sales Margins”

A recent influx of cheap Chinese battery electric vehicles (BEVs) into the European market has European Union leaders worried. While most nations with EV transition plans have invested in EV subsidies and incentives, China is spending much more on its domestic electric vehicle industry. The Chinese government has invested billions of dollars into subsidizing the … Continue reading “Europe Looks to Curb Chinese EVs, But Motorists Love Them”

Electric vehicle batteries lie at the heart of a revolution that will see the majority of the diesel and petrol-powered cars on the road being replaced with zero-emission electric cars. Unlike internal combustion engines, which require fossil fuels to run, EV batteries can be recharged with electricity, eliminating the need for fossil fuels and reducing … Continue reading “Why Electric Vehicle Batteries Are Becoming Cleaner, More Affordable”

A Stockholm-based electric vehicle startup has begun manufacturing a mini-EV inspired by IKEA’s iconic flatpack design. Fellow Swedish company and EV startup Luvly took inspiration from IKEA’s flat-pack design and developed a small electric car that can be delivered in a flat-pack form. Dubbed the Luvly-O, the mini-electric car is reportedly so light and small … Continue reading “Swedish Firm Manufacturing Flat-Pack EVs Inspired by IKEA”

Weeks after European authorities announced that they would begin investigating the surge of cheap electric cars flooding into the European Union, Brussels has launched a probe into Chinese electric vehicle subsidies. With China’s billion-plus population representing the largest EV market globally, Chinese authorities have invested heavily in building out EV and public-charging infrastructure domestically and … Continue reading “Brussels Formally Starts Chinese EV Subsidy Probe”