EVWorldNews

Category: Electric Cars

  • Electric Vehicles in US to grow in 2023

    There are expectations that Electric Vehicles in US is going to be really growing in the next year. Next year is expected to even top the fabulous year that United States has had this year and that is because of the number of EVs which are going to hit the market and most of them being less expensive ones. This along with the new rules of government are expected to make the current vehicles which may have a heavy price currently more affordable too. 2022 was a great year as the electric vehicle market share grew twice despite the supply chain issues along with inflation. EVs in 2022’s first 10 months accounted for close to 5.3 % of all the vehicle sold. This was 60% higher than the previous year. This is a great number considering the new electric vehicles are in the upper tier which is the $50,000 or more price range. There is still a lot of room according to the experts for growth in this field.  

    Also read : https://twitter.com/evworldnews/status/1607008431570882565

    However, it is widely believed that if the number was to grow significantly, it would happen with an increase in the EV charging numbers and offering Electric vehicles which are more affordable. There are many surveys which substantiate the fact that the number of consumers who are going to switch to an electric vehicle will grow considerably high if the market was to support them with more affordable electric vehicles.

    Also read : Electric Vehicles for delivery : USPS (evworldnews.com)

    This is what would help the market grow in the coming years as there is an expectation that there will be many cheap electric vehicles which will come from the more famed vehicle manufacturers such as Hyundai, Nissan and a few others. Chevrolet too has been considering a price for its electric version of Bolt. This will help the market grow to a high rate in the United States.

  • Ford To Change Plans for Electric Car, New UAW Agreement Says

    Ford Motors sees 65% dealers agreeing to sell its electric vehicles.

    Ford might be in plans to change its electric car strategy. The tentative agreement of Ford with the UAW shows that the plan of bringing the EVs production to the Flat Rock factory manufacturing Lincoln Continental and Ford Mustang is changed. As per the Ford electric vehicle plan made in March, the factory is to start building EVs in 2023 at the facility.

    Ford electric vehicle plan and UAW agreement
    Ford-UAW agreement (Image Credit: REUTERS)

    The UAW released the terms of this new agreement which state that the factory will receive an investment of $250 million in order to continue the production of Mustang along with the new version and derivatives coming soon (date unspecified). Also, the plant will produce the present-generation Continental. As per the document, at Flat Rock, Ford will continue to scout out all the future opportunities throughout this agreement.

    The head of electric vehicles at Ford, Ted Cannis, was not willing to offer any details regarding the Ford electric vehicle plan at Flat Rock. However, the agreement specifies that new product will surely be further added to the Ohio Assembly Plant of Ford in 2023, which is also a part of the investment of $900 million.

    Ford Transit PHEV
    Ford Transit PHEV

    Ford was also in news with its all new plug-in hybrid electric car. According to Ford, Transit PHEV is a greener way to get the goods delivered. This new hybrid electric van comes with a 1L turbocharged 3-cylinder engine along with its motor powered by a huge 13.6 kW-h battery which can last for 31 miles. However, in October, Ford stated that Transit’s plug-in hybrid version will not be made available to the U.S.

  • Australian electric vehicles conundrum as trees may be razed for EV factory.

    Electric Vehicles are where the world have put its hopes to better the climate situation. However, in an unfortunate turn of events, Melbourne Councils are going to chop down the trees and remove vegetation from the footpaths for making way for an Australia Post’s new fleet of the environment friendly electric delivery vehicles which has angered many residents who say that they want green spaces a lot more. Australian electric vehicles to go through this conundrum.

    Also Read : Battery electric vehicles vs hybrid electric vehicles debate. – (evworldnews.com)

    Stonnington ,Merri-bek and Darebin have removed the tree branches along with the footpaths as a response to the Australia Post to roll out 500 electric trikes and replaces the old motorbikes in the month of May in Victoria.

    The trikes carry thrice more than the traditional motorbike. They even have a capacity for over 100 small parcels and goes till 1200 letters helping the Australia Post meeting an increased demand for the parcel delivery that is driven by the online shopping boom which began during the coronavirus pandemic.

    The spokesperson said that Australia Post had not asked the councils into cutting down the trees but it did request the removal of the vegetation for clear footpaths.

    He has said that it is important that we have a clear access to the properties so we can keep delivering the letters of the customers and parcels efficiently and ensuring a safe environment for the team members.

    In the letter which is sent to the Coburg resident, Australia Post requested the removal of the branches and bushes from the home of a person.

    Australia Post has been changing the delivery mode and now they are using the electric delivery mode due to dimensions.

    Australia Post threatened for stopping the delivering mail for the resident if the overhanging branches and bushes had not removed.

    There is a need for the resolution of the issues before the growth of the electric vehicle market in the country.

  • Foxconn maybe manufacturing electric vehicles soon.

    There is a major chance about the next car of a person being the electric car. There is a major chance that the company which makes that electric car is going to be a Foxconn one.

    Foxconn is a Taiwanese giant in terms of electronics which assembles all kinds of the popular devices which includes iPad, iPhone, Nintendo Switch and Kindle which is diving directly into the electric vehicles world. However, instead of just selling the electric vehicles under their own brand, it will be designing and manufacturing the cars for the automakers which are established and the startups which are coming up.

    Foxconn is currently making its products for Apple and it is hoping to do for the car manufacturer Tesla. In the month of October, chairman of Foxconn said that that the company is aiming to make 40 to 45% of the electric vehicles of the world, matching the success which it has achieved in the electronics.

    Foxconn has unveiled their first prototypes of Electric Vehicles in the previous year and has wasted very little time in lining a roster up of automotive clients. Earlier in the year, the maker of iPhone has brought a former General Motors in the Lordstown, Ohio from the struggling automotive startup called Lordstown Motors. Lordstown Motors has been recently starting the shipping out of the Foxconn-made electric pickup trucks for customers.

    Also Read : Toyota Electric Vehicles to tie up with Oncore electric delivery (evworldnews.com)

    Fisker which is another Electric Vehicle upstart has been tapping into Foxconn for manufacturing their second vehicle, the Pear will start in 2024 in Ohio.

    Foxconn is also building prototypes for another startup in Indi EV. And it has inked a partnership with Yulon Motor with Taiwan.

    Volkswagen has been considering the hiring of Foxconn for building its new electric SUV and pickup truck destined for the United State buyers later on.

  • Rental industry to push electric vehicles in United States

    The rental industry which is represented by the ACRA and American Car Rental Association is going to make a big push into the electric vehicles and it can now have a major role in the increase of market share of the electric vehicles in United States.

    As per the spokesman of ACRA, the first exposure of the electric vehicles is going to be through the rental cars and it has been that way for a very long time. The people who have never driven an electric vehicle ever are going to get a chance to drive the electric vehicle and then make a decision that their next car is going to be an electric one. This would also take care of the range anxiety and fear that the vehicle is going to be lacking in performance.

    All the major companies which rent cars, Hertz, Enterprise and Avis have been moving very aggressively to acquire the electric vehicle fleets. Hertz has also ordered 100,000 Tesla vehicles. Hertz has also ordered 175,000 from the General Motors.

    ACRA which represents the companies with 1.8 million vehicles which are in operation is going to support the use of the electric vehicles particularly at the airports.

    Also read : Toyota Electric Vehicles to tie up with Oncore electric delivery (evworldnews.com)

    It has particularly been asking for the Congress to approve a fund of $10 billion over the coming five years for helping in providing charging including the fast charging at the rental facilities which are in airports and another $10 billion for the rental lots on the property which is owned by the airports.  

    Some of the rental companies arrange the electric vehicle offerings in to special categories. These are high end and luxury cars which are offered for rent at a higher price and for only a few customers who can afford driving this car at a higher price than the usual cars.

  • Chinese electric vehicles are offering a challenge to Europe

    The Chinese electric vehicles are now making their way into Europe and are aiming to win the sales volume from manufacturers such as Volkswagen which are looking to sell higher volumes of vehicle. But Mercedes, BMW and Audi cannot afford to get complacent as the companies will be coming for the upmarket manufacturers too.

    The premium markets however are going to be a lot more difficult to target as it is going to be difficult to compete with the status symbols which Audi, BMW, Mercedes and Porsche have become over the years and the nameplates BYD, Aiways, Xpeng or NIO may not have the same impact.

    It has been said that the share of the Chinese manufacturers of the battery electric vehicles in Europe may rise to about 15% by the year 2025 from 5% that it is right now. The big carmakers of Europe are currently hamstrung by the EU CO2 regulations which are in favor of the bigger, expansive and higher profit market electric cars and therefore seem unable to compete with the mid-price challenge and are even less inclined to contemplate a rise of the cheaper electric runabout.

    It is difficult to believe that the EU policy which is going to hollow the industry out and cause many job losses will be going unchallenged.

    Also read : GM to install 40000 EV chargers (evworldnews.com)

    The market is vulnerable and the brands have been notching up impressive sales which are based on the high-standard equipment levels and have prices which are below the competitive companies.

    Chinese electric vehicles are going to go unopposed from the European electric vehicles. The earlier hurdles such as quality which were being faced by the ICE versions of the Chinese electric vehicles will not be faced by the electric vehicles as they have a superior quality in the recent past due to better manufacturing.

  • Electric Car Manufacturer VinFast to come up with an IPO

    An electric car manufacturer from Vietnam called VinFast which is backed by the richest man in Vietnam has filed for an IPO in the United States as it is getting ready for delivering its first SUV to the consumers in California later in the month.

    This is a unit which is founded by the Pham Nhat Vuong and is being advised by the banks which include Citigroup, JPMorgan Chase and Co, Credit Suisse, Morgan Stanley and others. The shares are going to be traded under symbol of VFS on Nasdaq. There aren’t any details about the date when it will be possibly listed.

    Also read : GM to install 40000 EV chargers (evworldnews.com)

    The IPO plans of VinFast have been there in for close to two years. It was reported in the year 2021 that there were plans that a $2 billion US IPO was in the pipeline for the company. The company in had in the month of April filed for the confidentiality for the sale of shares. The company is looking to raise close to $1 billion from the offering in the month of January.

    VinFast is going to sell as well as list shares as per them when the conditions of the market are going to be suitable for them.

    Once it is listed, the company is going to look at further opportunities for raising funds. This is going to help them in their plans for growing all over the world.

    VinFast is going to be one of the biggest companies which are going to see an IPO since Vinhomes JSC which raised $1.4 billion debut share sale in the year 2018. The IPO did not do well since but the electric car manufacturer is going to look to change that trend and make sure that they grow at a steady rate in the coming few years.

  • EV chargers to be installed by General motors in Rural America.

    General Motors is going ahead with its plans which include the installation of 40,000 EV chargers. Most of which is going to take place in the rural parts in America. This is going to come as the plans of GM including selling exclusively for the zero-emission passenger vehicles by the year 2035. This is not going to be the Level 3 fast chargers but the slower ones but they are going to be powerful ones. These will be going in the locations where the EV drivers may be able to leave their vehicles parked for a couple of hours like the sport venues, parks or the downtown shopping districts. These are chargers which are going to have the industry-standard plugs which might be used by most of the electric vehicles and not only the likes of GM and Tesla.

    As of now there are 43,000 such charging stations in America. If all the units get installed, they would be able to double their number of stations.

    For now, 1,000 dealers of GM have come on board for the installation of 10 chargers per its dealership. Many of the GM dealership owners are the independent business owners and own over one dealership. The chargers are not going to be installed at the dealerships though but through the local area where the dealerships are based.

    As of now, most of the electric vehicles in the country are sold on the coastal areas such as California and New York. The EV chargers as of now are concentrated more in the suburban parts and urban parts of the nation around the major highways where they serve people who drive from one town to another.

    The dealers will get to select the location of the chargers in the communities where they are located or their dealership is located.

  • Elon Musk makes a cheeky comment on Biden’s tweet

    Elon Musk who is the founder of Tesla and is a new owner of the micro blogging website Twitter has been in the news in the recent past for different reasons.  Recently, Musk made a comment on the tweet of the President of United States, Joe Biden and asked him to buy an electric car from his company Tesla. United State’s President had recently reveled the plans of building 5 lakh electric vehicle charging stations all across the United States and announced a release of the funding for a nationwide charging network for the Electric Networks. This is going to help in financing the construction of charging stations across 35 different states and will significantly improve the charging infrastructure of the country.

    Following the post on social media site, Twitter, Musk and Biden then had a conversation on Twitter. The tongue in cheek comments were followed by people all over the world and created quite the buzz all over.

    Earlier in the Year, Biden did not Tesla when he was making his speech for the state of Union. Musk commented on that and said that no one was watching the President when he was making that address.

    Read the Tweet here : Elon Musk on Twitter: “@POTUS Or you can just buy a Tesla” / Twitter

    Biden said that an investment of a total of $18 billion was made by GM and Ford for building electric vehicles while Tesla had not been mentioned in the address that Biden made to the nation. Musk was quick to address that Tesla had been contributing to as many as 50,000 jobs in United States for building electric vehicles and is investing over double of what the other two companies that Biden mentioned are investing.

    Read Also : Electric Vehicle Market banks on India (evworldnews.com)

    He even went on to say that Biden is treating the public of America like Fools. Biden had in February though, had acknowledged the contribution of Tesla for countering the Chinese EV infrastructure.

  • Emerging Markets to lead the charge of Electric Vehicles.

    Electric Vehicles are going to proliferate and become a lot more accessible to the drivers all over the world as a several emerging markets are going to look to expand their manufacturing of the Electric Vehicles.

    Once upon a time it was a luxury segment of automotive industry, the Electric Vehicles are becoming popular among the companies and consumers alike in the last few years with the solid growth trends attracting the private and public investments. The EV uptake is essential to the global transitions as the transport remains the sector which has the biggest reliance on the fossil fuels producing an estimate of 37% of the CO2 emissions from the end-use industries in 2021.

    Also Read : Canoo electric vehicle delivers on first pickup truck – EV World News

    The number of EVs which are on road is going to triple in the world in the coming years. Although China currently dominates the Electric Vehicle scene due to the china incentives for electric vehicles. There are many emerging markets which have announced plans for jumpstarting domestic production.  

    Recently, El Nasr Automotive Manufacturing Company also signed the shareholder’s contract with the National Automotive company for establishing the first EV distributor of the country with the first EVs produced by the company to hit the market in the coming years.

    NASCO has also signed an MOU with Velco Egypt which is a subsidiary of the French automotive supplier of the same name for designing and developing and producing the EV components. In December of 2021, the project had been seeking close to $127m in the investment and targeting of annual production of close to 20,000 units over a period of three years.

    Also Read : https://twitter.com/evworldnews/status/1598565601043169281

    The private players have also been seeking support for the EV goals of North Africa’s country with the biggest population. Shifting of investment from the social media projects to green projects, Mohamed Mansour who is an Egyptian billionaire has announced plans for production of 15,000 EVs.