Keyword: electric
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Money Mail can today reveal a timebomb looming in the second-hand market for electric vehicles (EVs). Our investigation found that many EVs could become almost impossible to resell because of their limited battery life. Experts said that the average EV battery guarantee lasts just eight years. After this time, the battery may lose power more quickly and so reduce mileage between charges. Many EVs will lose up to 12 per cent of their charge capacity by six years. Some may lose even more. Yet the cost of replacing an EV battery is astonishingly high, our research found. In some cases,...
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One strategy for state officials looking to transition Washington’s transportation sector to electric vehicles is by subsidizing them with taxpayer dollars.This week, Gov. Jay Inslee announced $45 million in subsidies through a Department of Commerce grant program for families deemed “low-income” to purchase an EV. “Washingtonians really get it when it comes to electric vehicles,” Inslee said at a Wednesday news conference in Tukwila.The program provides up to $9,000 for families to lease an EV, or $5,000 to purchase one. The grant program allows them to purchase either new or used EVs. The funding would be available to those who...
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Ford’s electric vehicle (EV) division lost $1.3 billion in the first quarter of 2024, which adds up to a $132,000 loss for each of the 10,000 EVs sold. Sales of Ford EVs also plunged by 20 percent compared to last year, and “its revenue plunged 84% to about $100 million, which Ford attributed mostly to price cuts for EVs across the industry.” Ford expects losses on its Model e to hit $5 billion by the end of the year. More: The losses go far beyond the cost of building and selling those 10,000 cars, according to Ford. Instead the losses...
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Hertz raised the number of electric vehicles it plans to sell this year as it is cutting its EV fleet to reduce losses that have weighed on the car rental giant’s earnings. In the first quarter, Hertz upsized its EV disposition plan by 10,000 vehicles, for a total of 30,000 EVs intended for sale in 2024. Most of these EVs will be Teslas. The company incurred a $195 million charge to vehicle depreciation to write down the EVs held for sale which were remaining in inventory at quarter-end to fair value and recognize the disposition losses on EVs sold in...
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In recent months Tesla has had a bumpy ride. In January the electric-vehicle (ev) pioneer warned that growth would be “notably lower” this year, as motorists’ enthusiasm for battery power loses charge. The same month it had to suspend most production at its giant factory near Berlin because of supply disruptions caused by turmoil in the Red Sea. Its market share in China, the world’s biggest ev market, is falling as it fends off cheaper local competition, especially from byd, which late last year briefly eclipsed Tesla as the world’s biggest ev-maker. Tesla hit another big pothole on April 2nd,...
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The new "EV Tax" is the highest in the nation and will likely put the brakes on EV adoption in the Garden State. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ With the stroke of a pen, New Jersey Governor Phil Murphy has unplugged the state's pro-electric-vehicle position, signing into law a new EV road tax that is the highest of its kind in the nation. Starting in July, New Jersey EV owners must pay an annual $250 road tax fee in an effort to offset the state's loss in fuel tax revenue. The new fee will increase by $10 each of the next four years until...
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Here's something we learned just from Politico's headline: Republicans are waging a crusade against electric cars, and they might regret that in the 2024 election. Politico is correct if waging a crusade against electric cars means opposing EV mandates and impossible deadlines. Energy Secretary Jennifer Granholm wants the entire U.S. military fleet to be electric by 2030. It was Politico who told us last December that the Biden administration's $7.5 billion allocation had led to exactly zero charges being installed two years later. It's funny … Politico told us one year ago that Republicans were stoking the fires of the...
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Joe Biden’s massive electric vehicle (EV) agenda will subsidize the lifestyles of America’s well-to-do while hitting average people the hardest.... The Biden administration is aggressively regulating the U.S. auto market to drastically increase the proportion of EVs sold over the coming decade, but consumer demand has not taken off as quickly as proponents had projected despite the subsidies made available by Biden’s flagship climate bill, the Inflation Reduction Act (IRA). Manufacturers are slashing prices of their EVs to make the vehicles more appealing to consumers, which will increase prices for internal combustion engine (ICE) cars to compensate; this dynamic will...
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As the automotive industry rapidly evolves towards electrification, high-voltage batteries are finding their way into various applications. From mining trucks to hydrofoil boats, electric powertrains are finding their homes in many unsuspecting vehicles. But one area is particularly fascinating: the classic car domain. Due to the high-torque nature of electric motors and battery packs that allow for a low center of gravity, swapping an old gas-guzzling engine for a battery pack and electric motors provides a quieter, faster, and more refined driving experience. Florida-based automaker E.C.D. Automotive Design Inc. has been working on precisely that. Founded in 2013, the automaker...
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American truck drivers are sounding the horn on the Biden administration's recently finalized environmental regulations that aim to push for the heavy-duty vehicle sector to go all-electric. The truckers voiced concerns that electric heavy-duty vehicle technology is not nearly advanced enough to replace the nation's existing diesel-powered fleet, noting limitations on vehicle batteries, like low performance in cold weather conditions and shorter range. They also warned that the lack of high-powered charging infrastructure and power grid upgrades needed for fueling vehicles would present additional problems. "I'm an owner-operator. I've been in the business for 30 years," Mike Nichols, a Wisconsin-based...
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EVs are really heavy compared to their gas-powered brethren. The heavy battery packs that power the electric motors in electric cars and enable their long trips between charging sessions tend to be the culprit of bloated EVs, which concerns Stellantis (STLA) CEO Carlos Tavares.
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The fossil fuel industry is cashing in on the $7.5 billion for electric vehicle (EV) charging stations that President Joe Biden approved in the Inflation Reduction Act, lobbying to have the stations built at existing gas station locations. Politico‘s Energy & Environment News reported: More than half of the charging stations being built so far from the 2021 bipartisan infrastructure law are rising at truck stops and gasoline stations, according to data exclusively provided to E&E News by EVAdoption, an EV data consultancy. In essence, the law’s $7.5 billion pot for charging is reinforcing the very fossil-fuel infrastructure that the...
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Tesla's price CUTS in Australia follow the company's decision on April 3 to announced 0% financing for new orders of the Model 3 and Model Y in China. The incentive runs through the end of April and is Tesla's first interest-free promotion for China, the world's biggest EV market.Meanwhile, Tesla INCREASED its U.S. prices for all Model Y trims on April 1. Tesla RAISED prices on Europe Model Y vehicles on March 22. In China, Tesla also HIKED prices on its entire Model Y line by around $690 on April 1, even as some incentives expired.
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DETROIT – Ford Motor is delaying production of a new all-electric large SUV and pickup truck, as it shifts to offer hybrid options across its entire North American lineup by 2030. The Detroit automaker on Thursday said it will continue to invest in EVs, but it is postponing production of the three-row SUV at a plant in Canada from 2025 to 2027 to allow for the market to mature more. The pickup is being pushed back from late 2025 to 2026. The shift in EV plans is the latest for Ford and the entire automotive industry as adoption has been...
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Secretary of Transportation Pete Buttigieg said Tuesday on Fox News Channel’s “America Reports” that people who do not want electric cars were like those who wanted “landline phones forever.” Buttigieg said, “Let’s be clear consumers have wanted and purchased more EVs every single year than the year before. Tesla is facing more competition as GM and Ford and Stellantis and other competitive players make sure they get a piece of the EV market. Let’s be clear, the automotive sector is moving toward EVs and we can’t pretend otherwise. Sometimes, when these debates happen, I feel like it’s the early 2000s...
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Pitched as a near-future electric touring bike, the Felo TOOZ has a top speed of 125 mph, a hand-of-God mid-range, and a range of 720 kilometers per charge (450 miles). Those numbers suggest it will be one of the largest motorcycles on the road, regardless of engine type, because that's a lot of battery capacity required to go that far on one charge. The biggest promise the TOOZ makes is high levels of technological connectivity to your phone (AKA life), and the ability to output multimedia through the 12" TFT dashboard with sound via a 6-channel surround sound speaker system....
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The Biden administration’s well-funded push to build out a national network of electric vehicle (EV) chargers has so far resulted in only a handful of installations, according to The Washington Post. The bipartisan infrastructure bill of 2021 allotted $7.5 billion to subsidize thousands of EV chargers to help the administration’s goal of having EVs constitute 50% of all new cars sold in 2030, but only seven stations in total have been built in four states to date, according to the Post. The slow rollout of the EV charger funding is unfolding as the Biden administration has recently issued stringent emissions...
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The war on gas-powered vehicles continues. While the White House recently released new rules to phase out gas-powered vehicles by 2032, several states have gone further. Eight states plan to completely ban the sale of new gas-powered cars by 2035, the U.K.’s Daily Mail reported. Who’s leading the charge, you might ask? Why, it’s California, of course! They are joined by Rhode Island, Maryland, Massachusetts, New Jersey, New York, Oregon, and Washington. Washington, D.C., has also committed to the ban, according to Money. If you live in one of these states, you won’t be forced to take your gas-powered car...
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Ford will need to build two fully electric F150s for every gas-powered F150. By 2032, the company will need to build four electric F150s for every gas-powered F150. The Environmental Protection Agency has released its final tailpipe emissions standards, which some have called an electric vehicle mandate. “Make no mistake: This is a coerced phase-out of gas-powered cars,” the Wall Steet Journal editorial board recently opined on the final rules. The 1,181-page rule doesn’t require auto manufacturers to produce any electric vehicles, and the EPA insists the rule is not an EV mandate. “The standards continue the technology-neutral and performance-based...
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Two years ago, the Biden administration rammed through Congress a trillion-dollar infrastructure bill that contained, among other boondoggles, $7.5 billion for building EV charging stations across the country. The administration says it's going to need 500,000 charging stations in place by 2030 to achieve Biden's climate goals on emissions. So far, a grand total of seven charging stations are operational. “I think a lot of people who are watching this are getting concerned about the timeline,” said Alexander Laska, a deputy director at the Third Way think tank. Gee! Ya think? How many charging stations will $7.5 billion buy? The...
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