Electric Vehicles Global News
The PTOLEMUS research team is tracking important developments around electric vehicles on a daily basis. We are also looking at related issues like the decarbonization of transport. Take a look here to see some of the latest news on electric vehicles.
For a more in-depth look at electric vehicles and the state of the market, review our new report:
|LI AUTO FROM CHINA WITNESSES 66% GROWTH IN FIRST QUARTER OF EVs SALE IN CHINA
|Li Auto delivered (Q1) around 50,000 EVs in China, which is 66% more than the previous year. LI’s vehicles have fuel tanks to charge the EVs and a very good range. LI Auto claim it covers 20% of SUVs EV market in China.
|JAPAN AND US SIGN DEAL ON EV BATTERIES
|US and Japan signed a deal to facilitate EVs’ battery material. The minerals include manganese, lithium, nickel, cobalt and graphite. The two countries will every 2 years have a review of the feasibility of the deal. The US expects similar deals with the EU.
|FORD FORECAST THAT IT MAY LOSE $ 3 BILLION IN THE EV DIVISION
|Ford is expected to lose $ 3 billion due to spending on projects on battery plants in Tennessee and Kentucky. This is considering the target to produce 2 million EVs by the end of 2026. The company aims to revolutionize pricing, engineering and production capacity.
|MERCEDES AIMS TO OPEN MOR EV-RELATED PLANTS BY 2030
|Mercedes is pushing for US Plant in Tuscaloosa to increase EV related production. The company wants also to introduce a plant in Rastatt Germany for EV-related production.
|BELGIUM’S GOVERNMENT ONLY TO BUY EVS FOR ITS FLEET BY 2024
|The Minister of Civil Service approved buying EVs in July 2024. The federal government took stern action for sustainable mobility in 2024 instead of 2026.
|US AND EU GOVERNMENTS JOIN HANDS TO COORDINATE EV INCENTIVE PROGRAMS
|US and EU officials plan to coordinate on important minerals for EV productions. Hence, EVs manufactured in the EU will be eligible for EV tax credits in the US. It also aims to secure supply for crucial EV material from the EU to the US. Germany had earlier accused the USA of distorting competition by introducing the inflation reduction act bill which impacts EVs.
|NISSAN PLANS TO ACHIEVE EV PRICES ON PAR WITH CONVENTIONAL VEHICLES BY 2026
|Nissan plans to reduce production costs by 30% to make EV prices on par with gasoline vehicles. Focus on developing materials that have low cost for EVs. It also aims to introduce 19 new all-electric models by 2030.
|TEST SHOWS RANGE REDUCES BY 14%-30% FOR BEVs IN COLD WEATHER
|A test conducted by “What car” suggested EVs had a sluggish range in cold weather. Tesla performed better than other EVs. The worst-performing EVs were Renault Megane E-Tech and Ora Funky cat.
|TURKEY INCREASES 40% TAXES FOR IMPORT OF EVs FROM CHINA
|Turkey in an effort to protect local industry has imposed a tax on EVs from China. The 40% increase in tax will make locally manufactured EVs lucrative for customers. It is also an effort to reduce the trade deficit with China.
|VOLVO TO LAUNCH TECHNOLOGY HUB IN POLAND
|Volvo will launch a technology hub in Krakow. This will be its fourth tech hub that will employ 600 people. The hub is expected to be opened by 2025 and will serve the technical centre to reach the electrification target by 2030.
|VINFAST REDUCES LEASE PRICES FOR EARLY CLIENTS IN THE USA
|VinFast reduces its lease price by 34%. This decision is in light of the trend of price reduction for its models by OEMs beginning January 2023. This will highlight this vehicle in the competitive lease market.
|NIO PLANS TO INSTAL 40 GWH BATTERY PLANT IN CHINA
|NIO plans to instal 40 a GwH battery plant in China. It will hold the capacity to power 400,000 EVs. NIO plans to shun its dependence on CATL which provides battery support for their EVs.
|WORLD’S FIRST SODIUM-ION BATTERY CAR REVEALED IN CHINA
|HiNa Battery introduced its first electric car known as Hua Xianzi in China. This EV has an energy capacity of 25 kW. Moreover, this vehicle has a range of 250 km on a full charge. Currently, China imports 70% of its Lithium from other countries, these EVs could reduce China’s external dependency.
|DUKE ENERGY TO MOBILISE FIRST-OF-ITS-KIND MICROGRID-INTEGRATED FLEET ELECTRIFICATION CENTER
|Duke Energy has announced it will build a performance centre that will model and accelerate the development, testing and deployment of zero-emissions light-, medium-, and heavy-duty commercial electric vehicle (EV) fleets. The fleet electrification centre will provide a commercial-grade charging experience for fleet customers evaluating or launching electrification strategies. In addition to fleet charging, the site will also function as an innovation hub, allowing Duke Energy to study charger use, performance, management and energy integration.
|TESLA INCREASES PRICES IN AUSTRALIA
|Tesla increases prices for specific models in Australia. $400 was increased for models of Tesla Model 3 long range and Tesla Model 3 performance. At the beginning of 2023, 20% of vehicles sold in Australia were EVs.
|UBER TO INTRODUCE 25,000 EVS IN INDIA AMID CLEAN CAR PUSH
|Uber will introduce 25,000 electric vehicles from Tata Motors in India for ride-sharing over 3 years. India’s federal and state governments are pushing for greater electrification of shared taxis, an area currently dominated by Uber’s local rival BluSmart, an electric mobility start-up.
|SOUTH AUSTRALIA ABANDONS PAY-PER-KILOMETRE TAX FOR ELECTRIC VEHICLES
|The South Australian Government has scrapped a plan to charge electric-car drivers for each kilometre driven, which was due to come into force in July 2027.
|ROYAL MAIL PASSES 4,000 ELECTRIC VEHICLE MILESTONE ACROSS THE UK
|Royal Mail has announced that it has passed the milestone of 4,000 electric vehicles(EVs) in its UK fleet. Over the coming months, the delivery office in Blackpool will have 90 electric vehicles on site, marking that all deliveries and collections in the area will be operated by a zero emissions fully-electric fleet.
|OLA TO INVEST $920 MILLION FOR EVS AND BATTERIES IN INDIA
|OLA electric to invest $920 million in Tamil Nadu state of India. Ola already manufactures electric two-wheelers in India. Tamil Nadu consists of one-third of vehicles that are exported from India.
|THE NUMBER OF THE ELECTRIC CARS IN POLAND GROWS 63% IN A YEAR BUT REMAINS WELL BELOW THE GOVERNMENT TARGET
|By the end of January, the number of fully or partially electric vehicles registered in Poland reached 67,097, 63% higher than a year earlier. However, it remains well below government targets, which had initially envisioned having 1 million electric vehicles on Polish roads by 2025.
|VOLVO CONSTRUCTION EQUIPMENT INVESTS IN BATTERY PACK PRODUCTION AT AN EXCAVATOR PLANT
|Volvo Construction Equipment (Volvo CE) has announced an investment into battery pack production at its excavator plant in Changwon, South Korea. The new facility at the Changwon plant will produce a wide range of common electric storage solutions for Volvo Group and become a core competence centre for electric excavators.
|NISSAN LEAF EVS WILL POWER EVACUATION CENTERS IN JAPAN WHEN DISASTER STRIKES
|Nissan Motor and Kotohira Town announced a new agreement to utilise electric vehicles, including the Nissan LEAF, as “driving storage batteries” to power evacuation centers in the event a natural disaster strikes Japan.
|TESLA COMMITS TO OPENING 7,500 CHARGERS IN THE U.S. TO OTHER ELECTRIC VEHICLES BY END OF 2024
|The Biden administration wants at least 500,000 publicly accessible electric vehicle chargers on US roads by 2030 and announced a slate of initiatives on 15th Feb to help make that a reality. Therefore, Tesla committed to making at least 7,500 of its publicly accessible chargers in the US available for use by any compatible EV by the end of 2024.
|EU PARLIAMENT GIVES GREEN LIGHT TO COMBUSTION ENGINE BAN FROM 2035
|EU lawmakers in the European Parliament narrowly voted on Tuesday (14 February) in favour of phasing out internal combustion vehicles in passenger transport from 2035, ensuring the political compromise from October 2022 is now a legal reality.
|EU RETAINS COMBUSTION ENGINES FOR TRUCKS WITH A 90% CO2 REDUCTION TARGET
|The European Commission has set a 90% carbon emissions reduction target for new heavy-duty vehicles by 2040, a move that keeps the door open for the sale of some combustion engine buses and trucks beyond that date.
|GEELY’S EV BRAND ZEEKR RAISES $750 MILLION IN FRESH FUNDING ROUND
|Zeekr, the electric car brand of China’s Geely Automobile Holdings, is raising $70 million from five new and existing investors in a funding round that values the brand at $ 13 billion.
|FORD TO BUILD $3.5 BILLION US LEP BATTERY PLANT USING CATL TECHNOLOGY
|Ford will invest $ 3.5 billion in a US battery plant to produce lithium iron phosphate cells (LEP) with the help of CATL. The deal will help Ford lower EV prices with cheaper batteries. The plant will benefit from the subsidies in the Inflation Reduction Act.
|HYUNDAI STARTS EV SUBSCRIPTIONS FOR THOSE WHO ONLY NEED A CAR SOMETIMES
|Hyundai is starting a car subscription serivce “Evolve+” program in the U.S. Customers can reserve a Hyundai loniq 5 EV for $899 a month using a smartphone app, or a Kona Electric for $699, the price includes insurance, maintenance, and 1,000 mile of driving. Customers can cancel the monthly payments and give the vehicle back at any time.
|BYD SECURES 52-UNIT EBUS ORDER FROM TRANSDEV IN SWEDEN
|Transdev, one of the largest public transport operators in Sweden, has ordered 52eBuses from BYD. This new order comprises 8 units of 12-metre low-floor BYD eBuses and 44 units of 15-metre low-entry BYD eBuses. The eBuses on order will be delivered to the province of Gästrikland on the east coast of Sweden. There are now more than 700 BYD eBuses in service or on order, within the Nordic Region, and over 3000 in Europe.
|REDWOOD MATERIAL TO GET $2 BILLION IN LOAN FROM US GOVERNMENT
|$2 billion conditional loans were approved by DOE, to facilitate Redwood material. This move is a step forward due to reducing dependency on EV material from Asia. This will help Nevada to build a recycling site at Nevada.
|PLUG-IN HYBRIDS POLLUTE MORE THAN CLAIMED IN CITIES AND ON COMMUTES, NEW TESTS SHOW
|According to a study done by Transport & Environment, PHEVs pollute more than claimed on city and commuter routes. Three recent PHEV models, a BMW 3 Series, Peugeot 308 and Renault Megane were tested. Besides the pollution, PHEVs also have fewer ranges on a single charge than they claimed.
|YUNEX TRAFFIC ENTERS THE ELECTRIC VEHICLE CHARGING INFRASTRUCTURE MARKET IN THE US
|Yunex Traffic, a player in intelligent traffic systems, has officially entered the U.S. market by installing electric vehicle charging stations in Peachtree Corners, GA, a suburb of Atlanta. The new EV chargers will serve a busy social area in Peachtree Corners.
|AUSTRALIA TO PASS 100,000 EV MILESTONE
|Australian EV purchases to rise by 86% in comparison to the previous year. Almost 70 different models were rolled out to the Australian market. 3.8% of new cars were EVs.
|DELHI TO GET 27 CHARGING POINTS FOR EVs
|Municipality corporation of India has aimed to launch 27 charging stations in India. Several sites have been identified in this regard to provide electric charging services.
|VOLVO TO LAUNCH 6 NEW EVS UNTIL 2026
|Volvo aims to electrify all its lines to electric by 2030. Next year Volvo will launch an electric van. In Australia, Volvo aims to sell BEVs only after 2026.
|GENERAL MOTORS AND NETFLIX PARTNER TO GIVE EVS THE STAGE THEY DESERVE
|General Motors and Netflix are joining forces to launch a movement “EV On Screen”, in order to promote EVs. Netflix will increase the presence of EVs on screen as well as take action to become more sustainable behind the camera by optimizing energy use, then electrifying it, and decarbonizing the rest.
|FLEETCOR ACQUIRES AT-HOME EV CHARGING SOFTWARE COMPANY
|FLEETCOR Technologies, Inc. business payments and spend management company, announced the acquisition of Mina, a cloud-based EV charging software platform. After this acquisition, FLEETCOR is able to provide a 3-in-1 EC charging solution for commercial fleets in the UK.
|EXCLUSIVE: TESLA TO RAISE SHANGHAI OUTPUT AFTER PRICE CUTS STOKE DEMAND – MEMO
|Due to Tesla’s global price cuts in January, orders roughly doubled production. Therefore, Tesla’s Shanghai factory plans to produce a weekly average of nearly 20,000 units in February and March. Tesla’s CEO Elon Musk said that 2023 deliveries could hit 2 million vehicles if there was no external disruption.
|GM COMMITS $650 MILLION TO SECURE US LITHIUM PRODUCTION
|General Motors has agreed to invest $650 million in Lithium Americas to help bring its Thacker Pass project in Nevada into production, marking GM became the first automaker to make a sizable investment in a US lithium project.
|LIGHTYEAR’S OPERATING COMPANY ENTERS BANKRUPTCY
|The Dutch startup, Atlas Technologies BV, which specialised in producing solar-powered vehicles Lightyear, enters bankruptcy after Lightyear halted production of Lightyear 0. The company was planning to produce its second model Lightyear 2 with a cheaper sell price below $40,000, however, it is now certain as the company goes bankrupt.
|TESLA, INSURERS TAKE DIFFERENT PATHS TO DEAL WITH EXPENSIVE REPAIRS
|Due to the fact that Tesla electric vehicles are expensive to repair, insurance carriers are writing off low-mileage Tesla Model Ys that have been in crashes, and sending them to salvage auctions. Musk is fully aware of the situation and want to minimise the cost of repairing a Tesla.
|SUZUKI TO INVEST $34.8 BILLION IN EVS
|Suzuki plans to invest 4.5 trillion yen ($34.8) in EVs. It will spend 2 trillion yen on vehicle electrification and 2.5 trillion yen on battery technology improvement. Suzuki aims to introduce its “Kei” cars in Japan in the fiscal 2023.
|AMPOL PARTNERS WITH SEA ELECTRIC TO PROVIDE CHARGING SOLUTIONS IN AUSTRALIA
|Leading Australian Petroleum Company Ampol joins hands with SEA electric to offer charging solutions. SEA Electric has provided medium-sized electric trucks and received orders from IKEA Australia.
|EUROPE AND US AIM TO END CHINA’S DEPENDENCE ON EV BATTERIES BY 2030
|With the absence of lithium refineries and materials in Europe, sufficient funds have been developed by Europe to make the continent independent by 2030.
|BP pulse opened a network of ultra-fast 300kW EV chargers in Germany
|In Germany, BP pulse launched a network of ultra-fast 300kW EV chargers for medium and heavy-duty vehicles. In the coming months, the company plans to open two more charging stations along 600 kilometres of highway.
|BOLIVIA CHOOSES CHINESE CONSORTIUM LED BY CATL FOR $1 BILIION LITHIUM INVESTMENT
|WYOMING’S LEGISLATORS FAILED TO BAN EVS
|The resolution to ban EVs in Wyoming by Senator Jim Anderson, received little support by the Senate committee. The bill co-sponsor called Senator Brian Boner called it a symbolic gesture.
|SHELL USA, INC. AND VOLTA INC. SIGN A DEFINITIVE MERGER AGREEMENT
|Shell USA has acquired Volta via purchased 100% of the outstanding shares of Class A common stock of Volta with the price of approximately USD $169 million. Shell will also repay Volta’s debt.
|WITH THE PARTNERSHIP WITH HERTZ,, 25,000 ELECTRIC CARS WILL BE AVAILABLE FOR UBER DRIVERS IN EUROPE BY 2025
|Uber will begin its European electrification journey with Hertz in Europe by starting in the UK. 25,000 electric cars will be provided by Hertz to facilitate drivers. 10,000 electric cars will be allocated in the UK.
|TESLA REDUCES ITS PRICE FOR CARS IN EUROPE AND USA
|Tesla reduces its price on Model 3 and Model Y vehicles. The cut is aimed to be eligible for the inflation reduction act passed by Biden Administration. It indicates that purchase price wars have begun among auto giants such as Ford, GM and Tesla.
|From 1st January, it is expected that subsidies on EVs will not available for the public. However, other benefits will continue. Most experts believe that the rise of EVs will not be impeded by the elimination of subsidies for EVs.
|Green Cell a main electric mobility player has won the order to provide 570 electric buses to the Indian government. The Green cell is already implementing 1,500 electric buses in Gujrat, Maharashtra and New Delhi. The goal is to implement 50,000 electric buses in India by the government in the coming years.
|SONY AND HONDA REVEAL THEIR CAR BRAND, AFEELA
|Sony and Honda announced a joint venture to develop and build electric cars, called “Afeela”. The first prototype is revealed during the Consumer Electronics Show and will be available to order and purchase starting in 2025. With Honda’s advantages in vehicle manufacturing, the cars will have entrainment and interactive features from Sony.
|BELGIAN POST CLAIMS 40% OF ITS LAST-MILE VANS ARE ELECTRIC
|Belgian post (Bpost) claims 40% of its operations are performed by clean vehicles. Bpost added more than 500 electric vans to its fleets. It has a target to reduce emissions by 55% by 2030.
|RECORD NUMBERS OF EV CHARGERS INSTALLED IN THE UK
|Around 8,700 public charging points were installed in the UK in 2022. This is in pursuance of the government’s measures to have at least 300,000 public charging points by 2030.
|LEASED VEHICLES CAN QUALIFY FOR EV TAX CREDIT
|The US treasury department highlighted that leased vehicles would qualify for a $7.500 EV tax credit. A list of eligible EVs from 13 OEMs was released the previous week to cater for 2023.
|From 1 January 2023, Hyundai will only sell battery electric cars in the Norwegian market.
|FORD TO DELIVER 2000 ELECTRIC VANS TO DHL
|Ford to deliver 2000 electric vans for last-mile delivery for DHL. Ford will also provide vehicle testing monitoring services for DHL. These electric vans are expected to be disseminated into European and US markets.
|BLINK CHARGING SIGNS AGREEMENT WITH BOSCH AS OFFICIAL EV CHARGING SOLUTIONS PROVIDER FOR GM DEALERSHIPS, ADVANCING EV ADOPTIONS IN LATIN AMERICA
|As a member of the Bosch GM Dealer Equipment Program, Blink Charging Co. will deploy the Blink IQ 200 family of charging products and services in Mexico to support the EV development of Latin America.
|TML SMART MOBILITY SOLUTIONS WILL SUPPLY, MAINTAIN AND OPERATE 921 ELECTRIC BUSES FOR 12 YEARS FOR BENGALURU TRANSPORT CORPORATION
|A subsidiary of Tata motors known as TML smart city mobility solutions aims to supply and maintain 921 low-floor electric buses in Bengaluru city. To date, there have been 730 electric buses supplied by TML
|ENERGICA TARGET AUSTRALIA AND JAPAN AS THE NEW MARKET FOR THEIR ELECTRIC MOTORCYCLES
|Italian electric motorcycles company will launch their electric motorcycles in the first quarter of 2023 in Australia and Japan. In Australia and Japan, the “sell” of two-wheelers has witnessed a 15 years high
|TESLA LAUNCHES EVS IN THAILAND
|Tesla aims to serve South Asia’s market of 600 million people by entering Thailand. The price of its Model 3 will range from 1.7 million to 2.5 million. BYD and Nissan have made Thailand regional hubs
|FORD TO INCREASE ELECTRIC CAR PRODUCTION IN THE UK
|Ford has committed to invest in the UK with plants for EVs production in Essex and Merseyside. The UK government will provide assistance of 600 million pounds
|EVs TO BECOME CHEAPER AFTER AUSTRALIAN GOVERNMENT PASSED A LAW
|The Australian government passed a labour bill that will remove public support for petrol-based plugin vehicles. Resultantly, $9,000 to $4,700 in savings are expected per EV
|EV OWNERS TO PAY EV TAX BY 2025 IN THE UK
|To balance the dwindling revenue from petrol and diesel vehicles, THE UK government plans to introduce an EV tax in 2025. It is aimed to have a taxation system that is fair among all residents.
|RENAULT PLANS TO PLACE ITS NEW ELECTRIC CAR ON THE STOCK MARKET IN 2023
|Renault plans to place its new electric car unit in stock in 2023. This unit will employ around 10,000 people. Investors had shown interest in Renault’s moves, and stock value has increased by 3.7%.
|ARRIVAL FACES DELAY TO LAUNCH ITS ELECTRIC VAN
|Cash-strapped arrival was forced to delay its first working electric van. Before the event, several workers were fired due to financial losses.
|SAUDIARAB PARTNERS WITH FOXCONN TO PROMOTE Evs
|Saudi Arabia signed a deal with Apple-backed Foxconn to sign a deal to promote EVs in the country. They will work under the brand name CEER to promote EVs
|NEWLY FORMED EV COUNCIL AIMS TO INCREASE EVs IN AUSTRALIA
|More than 100 companies joined forced to create an EV council in Australia. This EV council is demanding that EVs should be at least a million in Australia by 2027. The prominent members of this council were BYD, BMW, and Hertz
|TESLA SENDS SHANGHAI WORKERS TO CALIFORNIA FOR FACTORY BOOST
|Tesla is sending engineers and workers from the Shanghai factory to its plant in California in order to boost the production
|IRIZAR E-MOBILITY TO ELECTRIFY THE FIRST ROUTE IN LONDON USING ULTRA-FAST OPPORTUNITY CHARGING BUSES
|Irizar e-mobility and Go Ahead London have signed a contract to supply 20 buses and related charging infrastructure to electrify route 358 in south London, the first ultra-fast opportunity charging route in the capital.
|TESLA CUTS PRICE OF EVs IN CHINA
|Tesla cuts its price of Evs in China by almost 5% and 8% for its Model 3 and Y respectively. This is done to compete with its rival EVs in China.
|ENEL X WAY AND SUNRUN HAVE PARTNERED TO PROVIDE SMART ELECTRIC VEHICLE HOME CHARGING STATIONS
|$28 BILLION IN NEW CLEAN ENERGY MANUFACTURING INVESTMENTS WERE ANNOUNCED THE FOLLOWING PASSAGE OF THE INFLATION REDUCTION ACT
|Following the signing of the Inflation Reduction Act (IRA), the most important climate legislation in the US, approximately $28 billion in new manufacturing investment has been announced. These investments will primarily be made in the electric vehicle, battery, and solar manufacturing sectors.
|STELLANTIS LOOKS TO AUSTRALIAN MATERIALS FOR ITS EV
|Auto giant Stellantis looks to procure materials, including nickel in Australia for its EV. A non-binding memorandum of understanding related to the “future sale of quantities of battery-grade nickel and cobalt sulphate products” had been signed between Stellantis and GME Resources Limited.
|RIVIAN TO RECALL ITS VEHICLES DUE TO A SMALL MECHANICAL PART
|Rivian had to recall its 12,000 vehicles due to a nut issue. Although no safety issues were reported, this caused the company to lost its share. The Amazon-backed company is one of the high-profile EV companies in the USA
|TESLA TARGETS TO DELIVER ITS FIRS ELECTRIC TRUCK BY THE END OF 2022
|Tesla aims to deliver its batch of EV trucks on 1st Dec, 2022 to PepsiCo. It is expected that the minimum range will be 500 miles. The EV trucks have already received 10,000 orders from giants such as Amazon, Pepsi, and FedEx.
|BRUSSELS MANDATES ALL CAR PARKS TO GET CHARGING STATIONS BY 2025
|Authorities in the Brussels Capital Region decided to introduce a new policy, mandating that all car parks that have over 10 spaces need to install charging stations for electric vehicles by 2025.
|IKEA LAUNCHES ELECTRIC VEHICLE PROGRAMME WITH DX GROUP
|DX has invested £750,000 to start a three-year project to acquire a fleet of electric vehicles for use in its delivery and logistics partnership with IKEA.
|AMAZON LAUNCHES FIRST FULLY ELECTRIC HEAVY GOODS VEHICLES IN ITS FLEET IN GERMANY
|As Amazon committed to achieving 100% net-zero carbon in its fleet by 2040, Amazon works with Volvo to deliver 20 fully-electric heavy goods vehicles in Germany by year-end.
|BYD HELPS IN 100% TRANSITION OF ALL-ELECTRIC BUSES IN A SCHOOL DISTRICT IN THE USA
|BYD helped the district Los Olivos School district to achieve a 100% transition to electric buses. Chargepoint will provide the necessary charging infrastructure for the school.
|TOYOTA AIMS TO DOUBLE IN EVs IN A RECENT POLICY
|Toyota to invest $35 billion in EVs amid criticism. The Toyota CEO hinted that it was challenging to fulfil the target of 100% electrification in California in 2035. Toyota aims to sell 1/3 of its vehicles as EVs BY 2030.
|HERTZ AND BP COLLABORATE TO ACCELERATE EV CHARGING IN NORTH AMERICA
|In order to support Hertz’s electrification, Hertz and BP are planning to install a national network of EV charging stations in North America.
|TESLA RECALLS 1 MILLION CARS DUE TO FAULT IN WINDOW SYSTEM
|Tesla directed to call back 1 million cars. The seat windows will not be able to detect external stimuli and it could harm fingers or hands.
|HERTZ ORDERS UP TO 175,000 EVS FROM GENERAL MOTORS
|Hertz has placed its next major order for electric vehicles from General Motor. 175,000 will be delivered by 2027 with the first vehicles to join the Hertz fleet in 2023.
|IKEA COMMITS TO ZERO-EMISSION ON HEAVY-DUTY VEHICLES
|IKEA joins forces with four global companies by committing to EV 100+ to transition to zero-emission electric trucks by 2040
|OHIO TO ALLOCATE 100 MILLION USD FOR THE DEVELOPMENT OF CHARGING INFRASTRUCTURE
|Ohio targets to allocate 100 million for infrastructure. It will pave the way for new registration of EVs by developing a robust infrastructure.
|EVs PUSHED BY BIDEN IN DETROIT ELECTRIC CARS SHOW
|Biden announced at the Detroit electric car show to allocate 900 USD for the development of EV infrastructure. This will help to achieve 50% of EVs in the US by 2030. Biden earlier allocated 7.5 billion USD in the 2021 Bipartisan infrastructure law to dEVelop 500,000 EV charging stations across the USA.
|IKEA, VOLVO TRUCKS AND RABEN GROUP JOIN FORCES IN POLAND TO ACCELERATE ZERO-EMISSION TRANSPORT
|IKEA Industry, Volvo Trucks, and Raben Group have signed a collaboration agreement on zero-emission heavy transport in Poland. IKEA will introduce heavy electric Volvo trucks for internal transport flows at two IKEA Industry factories in Poland, which will be operated by Raben Group.
|SOLID-STATE BATTERIES NEED 10 MORE YEARS TO ACHIEVE MARKET DOMINATION
|Solid-state batteries would require 10 more years as it is difficult to manufacture. The solid-state uses an anode at its one end while instead of graphite. Honda is expected to spend $300 USD on this technology to develop.
|BYD PLANS TO ESTABLISH ITS FIRST EV MANUFACTURING PLANT IN THAILAND
|BYD & WHP sign a deal to establish an EV plant in Thailand. The plant is expected to operate till 2024. The plant will be producing 150,000 vehicles per year.
|TOYOTA TO INVEST $5 BILLION IN USA AND JAPAN IN EV PLANTS
|Toyota to invest $5 billion in battery plants in Japan and USA. The plant in the USA is expected to create 2000 jobs in the USA.
|LG AND HONDA JOIN HANDS TO BUILD A $4.4 BILLION PLANT IN THE USA
|Honda & LG plan to build a battery plant by the end of 2025. Honda may benefit from the EV tax credit recently launched by the US government. Honda plans to spend $36 billion on EVs and software.
|ALL ELECTRIC BUS FLEETS ARE TO BE GIVEN TO TWO SCOTTISH CITIES IN 2022 AND 2023
|38 buses are to be given to the Scottish cities of Perth and Inverness. The city of Inverness will replace diesel buses with electric ones on routes 1-9. Stagecoach the bus provider has not disclosed models of the electric buses.
|VOLKSWAGEN TO ONLY SELL EVs IN NORWAY FROM 2024
|Norway will cease its petrol, diesel and hybrid sell in Norway at the end of 2024. To capture its demand for EVs and compete in the market, Volkswagen will capture the Norwegian market. In general, EVs are more affordable than ICEVs in Norway.
|MORE ROBUST INFRASTRUCTURE PLANNED TO ASSIST EVS IN AUSTRALIA
|The Australian government is indicating stringent measures to propagate EVs. It plans to introduce national fuel standards for manufacturers. Besides, it aims to have more dedicated lanes for EVs in its national infrastructure. Removing national import tariffs is also being discussed in government lobbies.
|CAMBODIAN MINISTERS INSIST PEOPLE PURCHASE EVS
|The current year witnesses an increase in EV registration. The government also insist to use electric motorcycle and electric cars as they are cheap to operate and environmentally friendly. The government aims to increase charging infrastructure in the country.
|THE US DEPARTMENT OF TRANSPORT AIMS TO DOUBLE ELECTRIC BUSES ON ROADS IN THE COMING YEARS
|According to an estimate, there are only 2% of electric buses in the USA. Almost $2 billion were allocated to the Low and No emission vehicle program to uplift the bus fleets in the USA. The government also aims to produce most local parts within the country.
|INDIAN RIDE-HAILING FIRM “OLA” TO PRODUCE EVS BY 2024
|Electric cars with a range of 500 km will be produced by the ride-hailing firm in 2024. Currently, Ola makes E-scooters with the help of the Japanese Softbank group. Ola claims to have sold 70,000 e-scooters in India in the last seven months. It aims to establish an electric vehicle ecosystem in Tamil Nadu, to develop electric two and four-wheelers.
|LOCALLY PRODUCE ELECTRIC CAR LAUNCHED IN PAKISTAN
|The first electric car produced in Pakistan was launched on independence day on 14th August 2022. The vehicle was called NUR E75. It was produced with the local collaboration of Dice Foundation & NED University. The parts are locally produced.
|98 FAST CHARGING POINTS TO BE CREATED IN WESTERN AUSTRALIA’S MAIN TOURIST ROUTES
|Spreading from Eucla to Esperance, a large network fast charging system is being established. It is expected to be operational by 2024. The estimated cost of the project is around 4 million Australian dollars.
|IKEA U.S. and ELECTRIFY AMERICA ANNOUNCE COLLABORATION FOR ULTRA-FAST PUBLIC AND FLEET CHARGING AT OVER 25 IKEA RETAIL LOCATIONS
|To reach IKEA’s climate-positive business by 2030, IKEA U.S. announced to collaborate with Electrify America and Electrify Commerical to bring ultra-fast charging stations and delivery fleet EV charging to over 25 IKEA retail locations in the U.S. In total, there will be more than 200 individual ultra-fast chargers at IKEA retail locations.
|TESLA PLANS TO ROLL OUT ITS FIRST ELECTRIC TRUCK IN 2022
|The first semi-truck for Tesla is expected to hit the road in 2022. It is expected to have a driving range of 800 km.
|INFLATION REDUCTION ACT TO BENEFIT EVS
|It is expected that cost reduction will induce more people to buy EVs. It can also reduce range anxiety as people can buy expensive EVs that will have extended range. More charging stations across states are also expected with this plan.
|TWO LOST COST ELECTRIC MOTORCYCLES TO BE LAUNCHED IN THE USA BY KAWASAKI
|Two low-cost electric motorcycles are expected to be launched in the USA. These motorcycles are expected to be lower in cost than their competitors. The power of these electric motorcycles would be equal to that of a gasoline 125 cc motorcycle.
|NISSAN AIMS FOR CONSUMERS TO RENT EVS
|Nissan aims to rent its EV to consumers instead of buying it. It will ensure that metals such as lithium do not travel abroad to other countries considering sell of EVs. This trend was to counter the bulging prices of battery material.
|PORSCHE TO CREATE TWO NEW ELECTRIC BIKES COMPANIES
|Porsche to introduce two new e-bike companies. The first company known as Porsche eBike Performance will focus on components of electric bicycles such as motors, batteries, and drive software. The second company known as P2 ebike will focus on creating e-bicycles for final consumers.
|BMW CALLS BACK ELECTRIC CAR MODELS OF 83 I4 AND IX OVER BATTERY FIRE ISSUE
|BMW recalls 83 vehicles of electric cars with models i4 eDrive40 and i4M50. It is believed that a manufacturing default has led to its fire. The battery cells were provided by Samsung.
|UK MAIL SERVICE KNOWN AS ROYAL MAIL ORDERS 3000 ELECTRIC VANS
|UK mail service will deliver emission-free in the cities of London, Bristol, Glasgow, Cambridge, and Oxford. To do so it has 3000 electric vans that will include the models of Mercedes EVito and eSprinter. It is expected that it will meet sustainability goals with low emissions and low maintenance.
|UP TO $40,000 IN INCENTIVES MAY BE PROVIDED TO ELECTRIC TRUCKS IN THE USA
|Inflation reduction act 2022 may provide benefits to electric trucks. For eligibility, there are certain motor and weight requirements. This incentive would improve the total cost of ownership for these vehicles. Electric trucks such as Tesla Semi would benefit considerably from this service.
|BYD MAKES FIRST FORAY INTO JAPAN PASSENGER CAR MARKET WITH THREE EV MODELS
|BYD unveiled plans to enter Japan’s passenger vehicle market with three models: Atto 3, Dolphin, and Seal. The first sale will start in 2023.
|OFF-PEAK ELECTRICITY INCENTIVES WILL PROVIDE CONSIDERABLE BALANCE TO FLEETS
|LeasePlan is of the opinion that incentives to charge vehicles in off-peak timings will benefit fleet companies. It aims that cheaper renewable will provide monetary and environmental benefits. It also depends on how the companies train their drivers to meet these expectations.
|PLATFORM FOR ELECTRIC CAR SHARING INTRODUCED BY MOTOR
|The electric car sharing platform known as Motor, introduced its first car sharing system in UAE. It offers cost-free charging, comprehensive insurance, and affordable rates. The step is to achieve the ‘UAE Net Zero 2050’ vision
|SOUTH AFRICA TO INTRODUCE ELECTRIC BUSES AND ELECTRIC SCOOTERS WITH SOLAR CHARGING STATIONS
|To reduce carbon footprints, arms manufacturing company Rheinmetall Denel Munition will introduce electric buses and electric scooters. The company aims to be carbon neutral by 2035. The company will move these vehicles around its gigant 5000 hectares of land.
|CATL LOOKS TO MEXICO FOR BATTERY FACTORIES TO SUPPLY TESLA AND FORD
|CATL, a Chinese battery manufacturer is looking for future battery factories in Mexico with up to a $5 billion budget.
|BYD TO PROVIDE 15 BUSES TO MADRID
|Spanish public transport company Empresa de Blas y Cia has ordered 15 buses to increase its prospects of fleet electrification. These buses will be operated in the suburb of Alcoron which is a suburb of Madrid. These buses are expected to have the latest features such as an enhanced drive range, substantial battery power, USB charging ports, and soundproof flooring.
|WALMART TO PURCHASE 4,500 ELECTRIC VANS FROM CANOO
|To facilitate its sustainable goals Walmart has purchased 4,500 electric vans. These vans will be used for online delivery and the last mile. The operations are expected to begin by 2023.
|ARVAL’S ELECTRIC FLEET DOUBLES IN A YEAR
|Arval has witnessed 102% growth in fleet numbers in comparison to the previous year. The company has around 22000 electric vehicles. It aims to increase its passenger car and van fleet to a significant number.
|VOLKSWAGEN AND COMDATA PARTNERS TO IMPROVE EV AND FUEL CHARGING OF FLEETS
|Comdata has connected car data use to facilitate fleet managers to provide reimbursement to their employees. Volkswagen aims to implement a Comdata Mastercard that will meet the needs of both gasoline and EV users.
|VINFAST SHAKES HANDS WITH PRO LOGIUM FOR SOLID-STATE EV BATTERIES
|The Vietnamese company VinFast aims to introduce vehicles with solid state-battery technology. This move could significantly reduce the cost of overall vehicle production. In this regard, VinFast has partnered with Taiwanese battery startup knowns as ProLogium.
|SPANISH CITY VALLADOLID’s PUBLIC TRANSIT OPERATORS ORDERS 30 CITY BUSES FOR IMPROVEMENT OF ENVIRONMENT
|30 buses were ordered by the Spanish public transport operator AUVASA in the city of Valladolid. Moreover, charging infrastructure for these buses has also been ordered by Irizar e-mobility.
These buses have the shape of a tram which gives a touch of modern design.
|VOLKSWAGEN GROUP AND SIEMENS HAVE INVESTED $450 MILLION TO SUPPORT ELECTRIFY AMERICA’S EXPANSION PLANS IN THE US AND CANADA
|Volkswagen Group and Simens invested $450 million to support Electrify America’s expansion plans, which represent a strategic partnership for Electrify America and Siemens:
1) The investment will support Electrify America’s accelerated growth plans through technological advancements in charging and energy solutions across public, home and commercial offerings.
2) Siemens’ investment strengthens the commitment to future collaboration between Siemens and Electrify America on technologies and services that will drive the expansion of high-quality, reliable charging solutions
|LG ACCELERATES ITS ELECTRIC VEHICLE CHARGER SOLUTIONS BUSINESS
|LG Electronics (LG) acquired South Korean electric vehicle charger solutions provider, AppleMango Co., Ltd., jointly with GS Energy and GS Neotek. The new acquisition will help LG to become an integrated solutions provider, bringing together its charger dEVelopment capabilities and existing in-house-developed EV charging management system.
|YORKSHIRE ALLOCATES 81 MILLION POUNDS TO DECREASE CARBON EMISSIONS
|The 81 million pound scheme FOR electric buses is aimed to cut carbon emissions considerably. This move is also expected to reduce emissions by 17,000 tonnes a year. It is expected that diesel buses will be completely phased out by 2040.
|AUTONOMOUS ELECTRIC TRUCKS BY EINRIDE GET A GREEN SIGNAL TO OPERATE ON US ROADS
|Einride’s electric autonomous truck known as POD gets approval for its operation on US roads. The company claims it is the first electric autonomous truck to get this approval. A remote driver will be allocated to observe its operations.
|NORWAY PLANNING TO REMOVE EV-RELATED ADVANTAGES
|Norway in its initial actions aims to reduce tolling benefits for EVs. EVs will be paying 70% of the tolling price than the previous policy to pay 50% price of tolls. Besides, VAT will be imposed again in 2023, which was phased out earlier. One of the EV associations (Elbiforening) declared this as a War on EVs.
|INCREASE IN FUEL PRICES PUSHES DEMAND FOR EVS IN UAE
|A Considerable rise in EVs was witnessed in the month of June particularly traveling among different emirates of UAE. UAE has also witnessed a shortage of EVs due to high demand.
EVs are available from Banks with attractive financing schemes in UAE.
|ROMANIA TO PROCURE 100 ELECTRIC BUSES
|Romania invites bids for the procurement of 100 electric buses. The special requirement for these buses is to have a range of 200 kilometers and a length of 12 meters.
Previously, the two tenders’ invitation were unsuccessful due to the lack of appropriate offers.
|CAR RENTAL COMPANY HERTZ PURCHASES 100,000 VEHICLES TO INCREASE EV FLEETS
|Hertz announced an investment of $ 4.2 billion to purchase 100,000 EVs. This move is expected to initiate a race for EVs in the rental fleet market. In the USA, the rental fleet industry is around $ 56 billion. Hertz does not disclose the total number of vehicles in its fleet, so the percentage of intake is unknown.
|EV SAFE CHARGE INTRODUCES ZIGGY THE CHARGE-BOT
|Ziggy is a mobile charging robot designed to make it easier to charge electric cars in car parks, shopping centers, hotels, and for fleet operators, and property owner launched by EV Safe Charge. Ziggy is called via a mobile app or an in-vehicle infotainment system, reserves a parking space and charges the electric car as soon as it is parked.
|BLINK CHARGING ANNOUNCES THE TRANSFORMATIVE ACQUISITION OF EV CHARGING LEADER SEMACONNECT, FURTHER EXPANDING ITS NETWORK AND CAPABILITIES
|Blink Charging acquired SemaConnect for $ 200 million. The transaction will add around 13000 EV chargers to Blink’s existing footprint, an additional 3800 site host locations, and more than 150000 registered EV driver members. With the acquisition, Blink Charging will able to offer complete vertical integration from research & development and manufacturing to EV charger ownership and operations.
|FASTNED RAISES €23 MILLION TO FINANCE FURTHER GROWTH
|Fastned raises €23 million with the issue of new bonds. In addition, investors have extended over €7 million worth of investments from earlier issues, bringing the total issued amount in this round to nearly €30 million
|ELECTRIC BUSES HAVE 80% OCCUPANCY IN AN INDIAN CITY
|Bengaluru Metropolitan Transport Corporation (BMTC) claim success after it witnesses 80% of occupancy in the city. Although, the buses do not have an AC still high occupancy directs the public’s acceptance of these electric buses. These buses are 9 rupees cheaper than diesel buses in the city. It is expected that these buses will bring environmental and monitory benefits in the long run
|DUBLIN TO INTRODUCE 800 ELECTRIC BUSES
|Dublin orders 800 buses in the step toward zero emissions on road by 2050. The government targets to have at least 1500 electric buses on the road by 2030.
|YAMAHA TARGETS NEO-STYLE ELECTRIC SCOOTERS TO BE INTRODUCED IN INDIA
|Yamaha aims to introduce electric scooters that will enhance range and affordability. It will compete with the 50cc conventional gasoline motorcycles.
The motor and battery are to be locally produced that will be suited to the local conditions of India.
|DHL TO ACQUIRE ELECTRIC TRUCKS FROM VOLVO TO INCREASE ITS FLEET
|DHL has procured 44 electric trucks which will be sent to different parts of Europe. This move is expected to save 600 tons of CO2 and 225,000 of diesel fuel. It is expected valuable data on the electric trucks will also be saved.
|HYUNDAI MOTOR GROUP TO ESTABLISH THE FIRST DEDICATED EV PLANT AND BATTERY MANUFACTURING FACILITY IN THE US
|Hyundai Motor Group enters an agreement with the State of Georgia to build full electric vehicle and battery manufacturing facilities. Commercial production to begin 1H 2025 with an annual capacity of 300,000 units
|ABU DHABI LAUNCHED THE ROAD MAP FOR EV INFRASTRUCTURE
|In order to meet the target of zero emissions target by 2050, UAE is modifying its regulatory policy on electric vehicle charging. This policy outlines the standards and requirements to establish an electric vehicle infrastructure station across Abu Dhabi. Overall, it includes the installation and management of the stations along with the pricing to final consumers.
|POLESTAR SELLS 13,600 UNITS IN THE FIRST 4 MONTHS OF 2022
|Polestar announced in a statement record sales for the first four months of 2022 as well as increased global order intake fueled by continued expansion into new and existing markets. In the first four months of the year, vehicle sales doubled to about 13,600 and the company’s order intake tripled to about 23,000 compared to the same period in 2021
|INVESTORS DRAIN OUT $126 BILLION FROM TESLA’S SHARES IN THE SHADOW OF ELON MUSK’S DECISION TO BUY TWITTER
|Investors reacted by pulling off money from Tesla’s shares considering the CEO (Elon Musk) would be selling shares to meet
with his Twitter buyout plan. Many investors are wary that distractions of Elon considering Twitter’s management and selling Tesla’s share by the CEO would put an adverse impact on Tesla
|INDIA INTRODUCES POLICIES FOR BATTERY SWAP FOR ELECTRIC TWO-THREE WHEELERS
|The battery swap policies could be beneficial for companies that are collaborating on battery swap as Reliance and Britain’s BP
. This policy will bolster the government’s stand to increase the induction of environment-friendly vehicles. The policy will provide incentives to customers who are willing to spend on EVs with swappable a battery option.
|PORSCHE AND AUDI FORM PREMIUM CHARGING ALLIANCE IN JAPAN
|Porsche Japan and Audi Japan builda charging alliance to expand the 150kw rapid charging station network across Japan. Charging stations run by both companies will be available to both Porsche and Audi owners starting July 1, 2022
|TESLA MAY LOSE ATTENTION AFTER TWITTER BUYOUT BY ELON MUSK
|TESLA stock fell by 14% after Elon made a bid of 41 dollars to purchase Twitter. According to financial pundits, due to severe EVs competition and leading manufacturers catching up with TESLA, shareholders may be worried that the Twitter buyout would dEViate focus from Elon.
|MERCEDEZ PARTNERS WITH SILA TO INCREASE THE ENERGY DENSITY OF BATTERIES
|Mercedes Benz partners with Sila (a battery material company), to incorporate Sila’s silicon anode chemistry in batteries that will increase the energy density of batteries without compromising safety or other performance parameters
|ALMOST 5000 ELECTRIC BUSES ARE TO BE DEPLOYED IN CITIES OF INDIA SUCH AS HYDERABAD, DELHI, BENGALURU, KOLKATA, AND SURAT
|Convergence Energy Services from the government of India aims to electrify a considerable bus sector in India by 2030. In this regard, it sent almost 5000 buses across India in the major cities of Hyderabad, Kolkata, Delhi, and Bengaluru. This was after the successful completion of the lowest-price tender for procurement of electric buses from WRI.
|NISSAN AIMS TO DEVELOP COST-EFFECTIVE SOLID-STATE BATTERIES IN 2028
|Solid-state batteries offer low prices, high storage capacity and short charging time. Therefore, Nissan aims to have such battery technology at least by 2028. Nissan will have to open a pilot project as there are only prototypes for such batteries. According to Nissan, the operational cost of EVs will be equal to conventional vehicles with such technology
|CANADIAN AUTOMAKERS CLAIM THAT THE 2022 BUDGET IS NOT ENOUGH TO COPE WITH EV SALES
|The Canadian auto industry claims that the Federal budget is not enough to meet the ambitious EV sales target by the government. The main problem revolves around rebates for EVs. The federal budget in 2022 promised to allocate $1.5 billion to EVs by 2025. Ontario’s decision in 2018 to revoke the provincial rebate of EVs resulted in low sales of EVs.
|TATA MOTORS INTRODUCE EVs
|TATA aims to introduce EVs known as Curve to elevate the current model of EV. It aims to introduce vehicles that would have lower inferior attributes.
|USING GLOBAL ARCHITECTURE, GM AND HONDA WILL DEVELOP COST-EFFICIENT EVS BY 2027
|GM and Honda promised to share technology, sourcing strategies and design to come up with EVs in 2027 that are low-priced. GM is poised to use Ultrium battery which uses pouched and prismatic-style cells instead of the cylindrical cells that are used in Tesla.
|LITHIUM-ION BATTERIES ARE EXPECTED TO GROW TO A SIGNIFICANT AMOUNT IN THE COMING YEARS
|It is expected that the recycling industry of Lithium-Ion Batteries is expected to grow by more than 20% annually. The automotive industry has recently seen a substantial increase in the use of batteries in EVs. Besides, governments of developed and developing countries have proposed deadlines to incorporate battery electric vehicles which has put a strain on the battery supply markets.
|ASTON MARTIN TO ESTABLISH STATE OF ART BATTERY TECHNOLOGY IN COLLABORATION WITH BRITISH VOLT
|In order to cater to and launch its first electric vehicle in 2025, Aston Martin has collaborated with British Volt to produce high-performance batteries in the coming years. The two companies will cooperate to enhance the capabilities of the cylindrical high-performance cells produced by Britishvolt so these cells can be used in the EVs produced by Aston Martin.
|SONY AND HONDA JOIN HANDS TO DEVELOP AND SELL ELECTRIC VEHICLES
|Honda and Sony will collaborate to develop and sell their first battery0electric car by the end of 2025. Honda will be responsible for manufacturing the vehicle, whereas Sony will lead the work on the mobility service platform.
|STRICT STANDARDS MAY IMPEDE ELECTRIC TWO-WHEELERS SALES IN INDIA
|Four incidents of electric two-wheelers have caught the eye of Indian regulating bodies. India has the stringent testing standard AIS 156, which has a strict test as fire-resistant battery test. Almost 1% of the two-wheelers sold in 2021 were electric in India. Active cooling solutions in the body would require an increase in cost which deter potential clients for electric two-wheelers
|OPIBUS AIMS TO CONVERT CONVENTIONAL VEHICLES TO ELECTRIC ONES
|Opibus aims to transform the mobility sector of Kenya by converting conventional vehicles into electric vehicles. Opibus has introduced electric two-wheelers which have a good range and speed. Nonetheless, it is expected to face stiff competition for its electric two-wheelers from Indian and Chinese manufacturers such as Bajaj Auto and Haojun.
|SAUDI ARABIA SETS UP ITS FIRST EV PLANT
|Saudi Arabia announced to set up of its first EV manufacturing plant. This will help Saudi Arabia to meet its target of 30% EVs by 2030. The plant will be set up by Lucid Group, with an annual target production of 150,000 vehicles.
|STELLANTIS AIMS TO HAVE 100% SALE OF EVS BY THE END OF THIS DECADE
|By the end of the decade, STELLANTIS aims to have 100% sales of EVs in Europe and 50% sales of EVs in the United States. These are essential steps to shape the organizational goal of clean and sustainable mobility products.
|FORD TARGETS 100% CONVERSION OF COMBUSTION PASSENGER VEHICLES INTO ELECTRIC ONES BY THE END OF THE DECADE IN EUROPE
|Ford aims to split conventional and electric vehicle production into separate units. By 2026, Ford aims to have one-third of vehicles sold as electric. Each unit will have independent management and financial control.
|CHINESE EVs FACE PRESSURE AFTER INCREASE IN LITHIUM-ION BATTERIES AND DWINDLING SUBSIDIES
|The price of Lithium Ion Carbonate in China has increased by 700% in the last year. The price of other important materials such as Nickel Sulphate and Cobalt has also increased. Besides, the Chinese government has also decreased subsidies for EVs by 30%. Hence, many EV producers fear the financial squeeze and have increased the retail price of EVs. Ora, a low-priced EV producer, has stopped the sale of its two EV models.
|TESLA REVERSE ON BATTERY CELLS SIGNAL SHIFT FOR ELECTRIC VEHICLES
|In line with the general rise in commodity prices and reduced margins, the price of lithium-ion batteries has been raised by producers.
For example, LG Energy Solution which supplies BMW, Tesla and Porsche, has increased battery prices by a tenth this year due to the rise in nickel prices the previous year. Tesla has indicated it will use iron-based batteries (also known as lithium iron phosphate batteries) in its cheaper standard-range cars.
|EQT TO ACQUIRE BRITISH ELECTRIC-VEHICLE CHARGING
|EQT Infrastructure has agreed to acquire InstaVolt. InstaVolt, founded in 2016, is UK´s largest EV charging company and operates 700 charging points for electric vehicles. These charging points are near or at retail, beverage, and food courts. However, there are not enough public charging points in the country. The number of charging points in the UK increased by 70% between 2019 and 2021 while EV adoption tripled in the same period. In reaction, automobile manufacturers in the UK are demanding the formation of an independent regulator to look after the country’s EV charging infrastructure. They fear that long lines at charging stations will demotivate potential buyers.
|MERCEDES-BENZ FORESEES EV-ONLY PRODUCTION LINES WITHIN A FEW YEARS
|Just 2.3% of Mercedes-Benz Cars’ sales last year were battery-electric vehicles, rising to 11% when including plug-in hybrids, which have both a conventional engine and a battery.
“We will certainly have some lines producing only electric vehicles in the next few years… we also see whole factories switching to electric – that is a topic for the second half of the decade.” It shows that car manufacturers will have plants whose sole purpose is to produce EVs. In the coming period, car manufacturers will shift additional resources to their EV production units. This will in turn create financial and operational challenges.
|GERMAN ELECTRICITY GRID UPGRADE WILL BE EXPENSIVE,
|The German government is concerned that the unprecedented high adoption of EVs may negatively affect the country´s electricity grid. It is expected that 15 million vehicles will hit German roads by 2030, adding significant strains on the grid. A way forward would be the use of “vehicle-to-grid” solutions. This means that power will be transmitted from the car battery back to the grid during the grid´s peak hours.
|PORSCHE ACQUIRED A CONSIDERABLE SHARE IN THE E-BIKE COMPANY KNOWN AS FAUZA
|Porsche has seriously taken a stride to mark in electric-two wheelers trajectory. Earlier, Porsche had acquired electric bike builder Greyp and now it has acquired hefty shared in Fauza. It is expected that Porsche may target light weight of 10 kg for its electric two-wheelers.