EV batteries see a change after major gamechangers arrive
As the automotive sector strives to meet the rising demand for affordable electric vehicles (EVs), there has been a concerted effort to develop cost-effective battery solutions. Among these options, lithium iron phosphate (LFP) has emerged as a promising material for EV batteries due to its various advantages. Notably, LFP has gained traction due to environmental […]
BYD, a Chinese EV manufacturer, approaches the United States with caution
BYD (002594.SZ), the world’s largest manufacturer of electric vehicles, is expanding quickly to take on Tesla (TSLA.O), but for the time being it is stuck in second gear on its rival’s home ground.A deliberate global push has emerged as the single most crucial strategic goal for China’s largest EV manufacturer, or so is claimed by […]
Electric vehicle manufacturers struggle financially—struck by exorbitant prices
The soaring cost of raw materials and production means that every time Lucid Group Inc. (LCID.O) or Rivian Automotive Inc. (RIVN.O) sells an electric vehicle, they lose hundreds of thousands of dollars, according to their most recent earnings reports.Electric vehicle (EV) manufacturers’ quarterly reports from the last two weeks reveal that they are having difficulty […]
Japan’s authorities express concern regarding EV tax credits in the U.S.
On Saturday, the Japanese government issued a warning about new electrical vehicles tax incentives in the United States, saying they would ultimately discourage future Japanese investment there and hurt employment in the largest economy in the world. In a letter sent to the U.S. Treasury Department: The government expressed several reservations about the tax credits […]
Ford sells shares in EV maker Rivian for $214 MLN
The U.S. automaker said that Ford Motor Co sold eight million shares of electric-car maker Rivian Automotive Inc for $214 million, or $26.80 apiece. Ford now holds nearly 94 million shares, or a 10.5% stake, and is still the fourth-largest shareholder in the Irvine, California-based company. Rivian is struggling in a competitive market, including competition from Ford’s […]
Rental car giants embark on electric
The $100 billion Western rental car industry, flush with cash from a profitable pandemic. It is gradually getting its electric show on the road. The Chinese-made vehicles are poised to play a starring role. The electric transition could see car fleets, which is long dominated by famed marques from the United States and Europe. Olivier […]
Foxconn bullish on electric vehicle prospects
Taiwan’s Foxconn unveiled its first three electric vehicle prototypes, underscoring ambitious plans to diversify away from its role of building consumer electronics for Apple and tech firms. The vehicles such as an SUV, a sedan and a bus were made by Foxtron. This is a venture between Foxconn and Taiwanese car maker Yulon Motor Co […]
Royal Dutch Shell to expand EV charging network
Royal Dutch Shell has announced its plans to expand its network of electric vehicle charging points in Britain. They are aiming to install 50,000 on-street posts, and that too by 2025. Shell will implement their plans through ubitricity, which is an on-street charging point company. Ubitricity is operating around 3,600 chargers in Britain. According to […]
Exclusive: Biden’s electric vehicle plan includes battery recycling push
President Joe Biden’s strategy to make the United States a powerhouse in electric vehicles includes boosting domestic recycling of batteries to reuse lithium and other metals. Biden’s administration is set to wrap up a 100-day review of gaps in supply chains in key areas, including electric vehicles (EV). These gaps include the minerals used in […]
Dead batteries in Electric vehicles have become a source of concern
The EU expects 30 million electric vehicles on European highways, in 2030. Electric vehicles (EVs) do not emit CO2 during service. But people fear about power loss in batteries. EV components are identical to those used in conventional vehicles. But the battery is by far the most significant difference. Traditional lead-acid batteries can be recycled […]