Commentary Ford Motor recently announced it’s slashing prices on its F-150 Lightning, an electric vehicle (EV) the company rolled out in 2021. The Lightning now carries a suggested retail price of $49,995, about $10,000 lower than its previous recommended price tag ($59,974), a reduction the company says is possible because of lower “battery raw material…
ANALYSIS: Toxicity of Lithium-Ion Batteries at Odds With Push for Electric Vehicles
Government leaders are pushing for the widespread adoption of electric vehicles (EVs), but there are concerns about the vast amounts of mineral mining necessary for battery production and the ensuing waste management issues taking a toll on the environment. Lithium, the primary component of an EV battery, can be highly environmentally polluting in its extraction and…
EV Flop: Rivian Market Cap Down 92 Percent, Stock Falls 60 Percent in Past Year
Electric vehicle manufacturer Rivian is losing investor confidence as its market capitalization and share prices have both tumbled, with the company now competing in a difficult market, where leader Tesla is aggressively reducing prices. In late 2021, when Rivian made its public trading debut, its market capitalization had crossed $150 billion. But now, the company’s…
Sales of Used Electric Vehicles Jump by a Third in First Quarter
April 8, 2023
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Business & Marketseconomyelectric vehicle (EV)EV adoptionMarketsTechTech NewsUSused electric vehicles
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Used EV sales rose by a third in the first quarter of this year, with average retail prices dropping and remaining well below the price of new electric vehicles, even as Americans remain hesitant to adopt electric cars. The sale of EVs through a licensed dealership rose 32 percent year-over-year in Q1 to 42,753 units,…
Europe to Ban Sale of New Gasoline Cars From 2035
March 29, 2023
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Business & Marketsclimate change agendaeconomic policieselectric vehicle (EV)energyEuropeEV adoptionEV Battery Supplygasoline carsTechWorld
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People residing in member nations of the European Union will no longer be able to buy new cars that run on petrol or diesel, according to a rule adopted by the European Council on Tuesday. “The council today adopted a regulation setting stricter CO2 emission performance standards for new cars and vans,” said the official…
Rivian Plans 6 Percent Workforce Reduction, Business ‘Bleeding Cash’
American electric vehicle manufacturer Rivian plans to cut down its workforce in an attempt to control costs as the company battles falling cash reserves and a potential price war with competitors. Rivian intends to lay off 6 percent of its workforce, CEO R.J. Scaringe said in an email to employees on Wednesday. Rivian is estimated…
House Democrats Reintroduce Bill to Fund Electric Vehicles Through Strategic Petroleum Reserve
House Democrats reintroduced legislation (pdf) on Jan. 20 in Congress to invest in the emergency crude oil stockpile to help finance the recharging infrastructure required to make feasible President Joe Biden’s goal of having half of all new vehicles be electric-powered by 2030. Rep. Frank Pallone, Jr. (D-N.J.), together with Reps. Angie Craig (D-Minn.), Jason…
California Zero-Emission Vehicle Sales Increase by Over 100 Percent in Two Years, Accounts for 40 Percent of US Sales
January 24, 2023
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Business & MarketseconomyElectric carselectric vehicle (EV)energyEV adoptionNorthern CaliforniaRegional & State NewsSouthern CaliforniaState NewsUSzero-emission vehicle
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The sale of zero-emission vehicles (ZEV) in California has risen by more than 100 percent in two years, with the state making up 40 percent of U.S. sales of such vehicles in 2022 and roughly 19 percent of all cars sold in California. According to data from the California Energy Commission, 18.8 percent of all…
EV ‘Mania’ May Be ‘Over,’ Production Estimates and Executive Enthusiasm Wane as Sustainability Questioned
January 21, 2023
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Business & MarketsElectric carselectric vehicle (EV)electric vehicle industry chinaEV adoptionEV salesMarketsTechTech NewsUS
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Electric vehicle (EV) “mania” might be at an end, or, at a minimum, easing down, according to research, as concerns about supply chains, lithium sourcing, inflation, and more affect production capacities while customer demand decelerates globally, as evidenced by industry leader Tesla cutting prices in order to increase sales. In Europe, EV car manufacturers are…
‘EV Car Mania May Be Over’ as Production Estimates and Executive Enthusiasm Wane: Institute for Energy Research
January 21, 2023
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Business & MarketsElectric carselectric vehicle (EV)electric vehicle industry chinaEV adoptionEV salesMarketsTechTech NewsUS
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Electric vehicle (EV) “mania” might be at an end, or, at a minimum, easing down, according to research, as concerns about supply chains, lithium sourcing, inflation, and more affect production capacities while customer demand decelerates globally, as evidenced by industry leader Tesla cutting prices in order to increase sales. In Europe, EV car manufacturers are…
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