Author: Joshua Morris

At the annual shareholder meeting of Vingroup, Vietnam’s leading private conglomerate, Chairman Pham Nhat Vuong announced a substantial injection of $1 billion from his personal fortune into the group’s electric vehicle (EV) subsidiary, VinFast. Addressing concerns about VinFast’s financial health, Vuong expressed confidence in the company’s capabilities and resources. “While acknowledging the challenges of producing electric vehicles, the billionaire remained hopeful, noting that the most arduous phase had passed, with the electric vehicle market showing signs of gradual recovery,” the chairman stated. VinFast, which recently became Vietnam’s best-selling automotive brand in the first quarter of the year, has seen improved…

China has launched the world’s largest battery-electric container ship, the Greenwater 01, which has begun regular operations between Shanghai and Nanjing along the Yangtze River. This marks a significant milestone in the country’s efforts to reduce emissions in the shipping industry. Developed by the China Ocean Shipping Group (Cosco), the Greenwater 01 is an impressive vessel, measuring 120 meters in length and 24 meters in width. It boasts a battery capacity of 50,000 kWh, with the ability to expand to 80,000 kWh if necessary. The ship’s batteries are housed in containers that can be recharged in the harbor or exchanged…

Toyota Motor North America has announced the renaming of its TMNA R&D California office to the new North American Hydrogen Headquarters (H2HQ). This strategic move positions the team to focus on the commercialization and sales of hydrogen-related products and technologies in the region. H2HQ will play a key role in localizing global hydrogen-related technologies and products, encompassing light-duty fuel cell applications, heavy-duty fuel cell opportunities, stationary fuel cell power generation, port vehicle applications, and more. The facility is already equipped with research and development assets, including a hydrogen fueling station capable of servicing both light- and heavy-duty vehicles. Ted Ogawa,…

Rivian has been recognized by PETA (People for the Ethical Treatment of Animals) with the “REVolutionary Vegan Vehicle” Award for its commitment to ensuring that no animals are harmed in the production of its all-electric vehicles. In a press release, PETA praised Rivian for its efforts to design vehicles like the R1T and R1S with cruelty-free materials, highlighting the company’s attention to detail in creating animal- and planet-friendly vehicles. PETA Executive Vice President Tracy Reiman commended Rivian, stating, “Every vegan vehicle rolled out by Rivian helps spare vulnerable cows and sheep being mutilated and killed for leather and wool car…

Tesla has leveraged a new Texas state law to exempt its Austin gigafactory from environmental regulations set by the city of Austin, as reported by the Austin Business Journal. While Tesla’s Texas gigafactory is often associated with Austin, it is actually located just outside the city’s official borders, within Austin’s “extraterritorial jurisdiction” (ETJ). This area allows the city some control over development outside its limits, ensuring compatibility with future infrastructure if the city expands. Last year, the Texas legislature passed SB 2038, enabling developments to easily remove themselves from ETJs. Earlier this year, Tesla filed a petition to exit Austin’s…

Hyundai Mobis, a leading auto parts supplier and affiliate of the Hyundai Motor Group, has announced a significant new test of its fully autonomous driving technology in South Korea. The company will conduct test rides in Incheon, a city with a population of 3 million located near Seoul. The test, conducted in collaboration with the Incheon Free Economic Zone and Incheon Technopark, will involve a test vehicle equipped with Level 4 automation, as defined by the Society of Automotive Engineers. This autonomous vehicle, based on a Hyundai Ioniq 5, will operate in an area spanning 37.3 miles in the Songdo…

Tesla has announced a reduction in the monthly lease fee for its entry-level Model 3 electric vehicle (EV) by $30, bringing the new monthly cost to $299. The deal, which requires a $3,000 down payment, comes with a 36-month lease term and an annual mileage limitation of 10,000 miles. The adjusted lease offer was first reported by Sawyer Merritt on X and includes additional fees such as a $695 acquisition fee, the first month’s payment at signing, and a $395 disposition fee upon return of the vehicle. When factoring in these costs, the effective monthly cost totals $412.6, amounting to…

Polestar, the Swedish electric vehicle (EV) maker, has faced recent turbulence with rumors suggesting parent company Volvo’s potential withdrawal as a majority stakeholder. However, Polestar CEO Thomas Ingenlath has shed light on a new shareholder structure with Volvo and fellow stakeholder Geely, coinciding with the launch of several new EVs. In February, Volvo hinted at relinquishing its Polestar shares to Geely, just ahead of the production start of the Polestar 3 in China. In a LinkedIn post on Monday, Ingenlath revealed details of the EV maker’s new ownership structure, stating that Geely Sweden Holding will become the company’s second-largest shareholder.…

Nottingham City Transport (NCT) has taken a major step towards its goal of transitioning to an all-electric fleet by introducing the first electric buses to the city. The initiative aims to replace all diesel buses with 48 new all-electric single deck buses. The initial batch of electric buses is already in operation on the Red 50 and Pink 30 lines. A further 12 electric buses are scheduled for delivery in May, with the remaining 24 expected to enter service in the first half of 2025. The electric buses are supplied by leading bus manufacturer Yutong Bus and Coach, with UK-based…

The global electric vehicle (EV) market experienced a slowdown in the first quarter of 2024, reflecting a similar trend in manufacturers’ Q1 sales numbers. Despite this, Q1 2024 EV sales in the US saw a modest year-over-year increase of 2.6%, although the EV share of total vehicles sold dropped by 7.3% compared to Q4 2023. Tesla, a prominent player in the EV market, faced challenges in delivering all the cars it produced in the first quarter. However, its Model Y crossover remained the most popular EV in the US, with Americans purchasing 96,729 units, accounting for over one-third of all…

Honda has announced significant progress in establishing its planned ‘Honda EV Hub’ in Ohio, a pivotal step towards the production of Honda’s electric vehicles in North America. The company now plans to commence production at the EV Hub by late 2025, a year earlier than previously anticipated. The update provided by Honda indicates that the conversion of its plants in the US state of Ohio for electric vehicle production is progressing ahead of schedule. Specifically, Honda aims to start production of electric vehicles at the Marysville Auto Plant (MAP) by the end of 2025, instead of the previously communicated target…

The U.S. National Highway Traffic Safety Administration (NHTSA) has initiated a preliminary evaluation into reports of brake assist problems affecting 3,322 Cadillac Lyriq electric vehicles from General Motors (GM). According to the NHTSA, drivers have reported encountering a firm brake pedal and receiving a “Brake System Failure” message either upon startup or while driving. The probe is specifically focused on the 2023 model year vehicles. GM has attributed the issue to a potential fracture in the electronic brake control module’s internal spindle during an anti-lock braking system (ABS) event. ABS is designed to prevent wheels from locking up and skidding…

Vulcan Energy Resources has commenced production of climate-neutral lithium chloride at its lithium extraction plant in Landau, Germany. This milestone marks the first production of lithium entirely in Europe, a significant development for the continent’s sustainable energy sector. The Australian-German company aims to extract lithium from geothermal brine, providing a local and sustainable source of lithium in Europe. Vulcan’s combined geothermal and lithium resource in the Upper Rhine Valley in Germany is the largest in Europe, positioning the company as a key player in the region’s lithium supply chain. The Landau-based lithium extraction plant, known as the Lithium Extraction Optimisation…

With the electric vehicle (EV) market in India experiencing rapid growth, several automakers are vying for a piece of the action. Kia Motors recently announced its intention to introduce three new EVs in the region, including a new Carens EV, as part of its strategy to establish itself as a leader in electrification. During its recent CEO Investor Day, Kia outlined its roadmap for electrification, aiming to stay ahead of competition from low-cost Chinese automakers like BYD. The company’s plans include launching more hybrids while focusing on affordable electric vehicles. The Korean automaker is set to expand its EV sales…

Californian electric vehicle (EV) startup Canoo has recently come under the spotlight for its 2023 full-year earnings report, revealing that the company spent double its annual revenue on CEO Tony Aquila’s private jet. In 2023, Canoo reportedly paid $1.7 million for the use of Aquila’s private jet, while the company’s revenue for the same year amounted to $886,000. This expenditure is in addition to another $1.7 million paid to Aquila Family Ventures, an entity owned by Canoo’s CEO, for “aircraft reimbursements.” Similar amounts were also spent in 2021 and 2022 for shared services support in corporate office facilities in Justin,…

The resale market for Tesla’s Cybertruck is experiencing a downturn, with values falling below the initial high-demand prices, according to John Clay Wolfe, owner of GIVE ME THE VIN, the largest vehicle wholesaler in the United States. Wolfe’s company made headlines by selling the first Tesla Cybertruck at auction in February for $244,500. However, recent sales indicate a decline in prices, with units selling for as low as $171,000, well under the $200,000 mark. One notable instance involved NFL player Ji’Ayir Brown, who considered purchasing a Cybertruck for $210,000 but ultimately decided against it after consulting with his financial advisor.…

Hyundai’s senior VP for product planning, Olabisi Boyle, has expressed confidence in the company’s strategy for future vehicles, despite the recently announced EPA emissions regulations described as the most aggressive ever imposed in the country. Boyle stated that Hyundai is content with its mix of electric, plug-in hybrid, and internal combustion vehicles for the American market, emphasizing a “dual-pronged” approach that offers a “diversity of offerings” for all consumers. The EPA’s new regulations aim for a nearly 50 percent decrease in fleet-wide CO2 emissions for passenger vehicles by 2032, with an expectation that 30 to 56 percent of vehicles will…

Ehang, a Chinese electric vertical takeoff and landing (eVTOL) developer, has inaugurated its first unmanned aerial vehicle (UAV) center in Japan, located in Tsukuba, Ibaraki Prefecture, as part of its efforts to expand operations in the region. The new facility, announced by Ehang, will serve as a local demonstration flight site, providing ground infrastructure and maintenance services for Ehang’s eVTOLs, including the EH216-S model. During a demonstration flight at the site, the EH216-S showcased its capabilities in aerial sightseeing, marking its first flight in Japan’s Kanto region. The establishment of the UAM center is a result of Ehang’s strategic partnership…

Researchers at Oak Ridge National Laboratory (ORNL) have achieved a new milestone in wireless charging technology by wirelessly charging a light-duty passenger electric vehicle (EV) at 100 kW with 96% efficiency. The team at ORNL, funded by the US Department of Energy, utilized polyphase electromagnetic coupling coils with rotating magnetic fields to wirelessly charge the EV. This patented system transferred power to a Hyundai Kona EV across a five-inch air gap using electromagnetic fields, a process similar to wireless charging of small consumer devices. Omer Onar, a researcher at ORNL, highlighted the significance of this achievement, stating, “We’ve achieved the…

The US Treasury Department has released updated guidance on the eligibility criteria for claiming the EV charger tax credit, providing crucial information for individuals and businesses as tax season approaches. When the Inflation Reduction Act was enacted in August 2022, it introduced a tax credit of up to 30% of the cost of qualified EV charging “property.” This modification eliminated the previous per-site limitation and now applies on a per-charger basis, significantly expanding the potential benefits for EV infrastructure development. See also: U.S. Retailers Could Boost EV Adoption with More Charging Stations  Under the new guidance, individuals claiming the tax credit…