Electric Cars

Electric vehicle maker Polestar said on Thursday that its revenue nearly doubled in the first half of 2022 on soaring demand and that it may have to raise its prices further if material costs continue to rise. “We continue to have a very strong order book,” Chief Financial Officer Johan Malmqvist told Reuters. “In regards to inflationary pressures, we have increased prices and that is something that we are closely monitoring to see if there’s a need to take additional actions to protect our margins.” The Swedish-based…

One of the biggest roadblocks in the shift to Evs from Internal combustion engine (ICE) vehicles, has been the snail pace growth of the charging ecosystem. While ICE vehicles can get loaded up in a matter of minutes, most present-day EVs take anywhere between half an hour to seven hours to juice up their battery. This slow charging tends to repel people from buying an EV over an ICE car. Now, scientists associated with the American Chemical Society have reported a new superfast charging method that can reduce the charging…

Smartphone maker Xiaomi Corp is in talks with Beijing Automotive Group Co to collaborate on producing electric vehicles, Bloomberg News reported on Friday, citing people familiar with the matter. The two giants are exploring different options including Xiaomi buying a stake in Beijing Hyundai No 2 plant, the report said. Read all the Latest Auto News and Breaking News here Smartphone maker Xiaomi Corp is in talks with Beijing Automotive Group Co to collaborate on producing electric vehicles, Bloomberg News reported on…

While India’s 2030 electric vehicles (EV) target is aggressive, it is not achievable, according to a report by the Indian Venture and Alternate Capital Association (IVCA) in collaboration with management consulting firm EY-Parthenon and law firm Indus Law. By 2030, the central government expects the EV sales penetration to be 30% for private automobiles, 70% for commercial vehicles, and 80% for two- and three-wheelers. But the IVCA’s report said: “The government has set a target of 80% penetration by 2030, which we feel…

The Australian government will seek to introduce vehicle fuel efficiency standards to help increase the supply of electric cars, improve affordability for motorists and drive down emissions, the government said on Friday. The absence of a mandatory fuel efficiency standard is curbing the uptake of electric cars in Australia, Minister for Climate Change and Energy Chris Bowen said at an electric vehicle summit in Canberra. “We believe that now is the time to have an orderly and sensible discussion about whether vehicle…

Drawing a comparison between Tesla’s long-delayed Cybertruck and Ford’s plug-in pick up — F-150 Lightning, Ford CEO Jim Farley took a dig at tech billionaire Elon Musk while announcing a major investment in solar energy. According to The Verge, Farley spoke at a Ford plant in Michigan to announce a deal with DTE Energy that both companies billed as the “largest renewable energy purchase from a utility in US history”. But after touting the company’s move to more sustainable sources, he made a quick jab at his main rival in…

BMW has issued a recall for some of its electric cars as the high voltage battery “may have internal damage”, which can result in an electrical short circuit. The recall notice has been issued for a “small number” of 2022 i4 sedans and iX SUVs due to the risk of battery fires. According to the US National Highway Traffic Safety Administration (NHTSA), a short-circuit in a high voltage battery increases the risk of a fire. “BMW of North America, LLC (BMW) is recalling certain 2022-2023 iX xDrive50, iX M60, 2022 i4…

The shipments of electric vehicle battery packs are likely to reach 30 million in 2027, from 10 million in 2022, a report showed on Monday. The around 200 percent growth will be strongest within the commercial segment, with commercial electric vehicle battery pack shipments growing from 1.4 million in 2022 to over 7 million by 2027, according to Juniper Research. The report identified falling vehicle costs, often directly caused by government subsidies, and increasing awareness around the environmental impact of current…

The news: The US Senate Democrats released a bill last week that could significantly cut the country’s carbon emissions. One of the bill’s key components is an extension of electric vehicle tax credits, which are designed to help push adoption of EVs by giving buyers $7,500 credit towards purchasing a qualifying new electric vehicle, or $4,000 for used cars.The hitch? For a new vehicle to qualify for the tax credit, its battery and the key minerals used in it need to come mostly from the US or from countries it has…

China will extend an exemption of purchase taxes on “new energy” vehicles as part of the measures to boost domestic consumption, state media said on Friday, following a cabinet meeting chaired by Premier Li Keqiang. Also Read:  Audi’s Focus to Sell Only Electric Vehicles From 2033 Onwards New energy vehicles include electric and hydrogen cars. China will also step up investment for economic recovery and urge local governments to speed up the use of special bonds for infrastructure, the media report of the meeting Read all…