-
BYD Proposes $1 Billion Investment to Build Electric Cars and Batteries in India – Report
BYD, the world’s largest producer of electric vehicles (EVs) and plug-in hybrids, has presented a $1 billion investment proposal to establish a manufacturing presence in India. According to three anonymous sources familiar with the plan, BYD has partnered with Hyderabad-based Megha Engineering and Infrastructures to submit a joint proposal for an EV joint venture to…
-
WiTricity Unveils FastTrack Program for Swift Wireless EV Charging Integration
WiTricity, a developer of wireless EV charging systems based in the US, has unveiled a new initiative called FastTrack, aimed at enabling automotive original equipment manufacturers (OEMs) to seamlessly integrate their ‘Halo’ wireless charging system into vehicles within a short span of three months. This program is specifically designed to accelerate the testing and implementation…
-
Lucid Group’s Shares Plunge 12% as Second-Quarter Production Dips
Lucid Group, the luxury electric-vehicle manufacturer backed by Saudi Arabia, experienced a decline in production during the second quarter of the year, resulting in a 12% drop in the company’s shares on Wednesday. While deliveries remained stagnant, the supply chain challenges and an ongoing price war initiated by Tesla in January intensified the competition for…
-
EU Member States Approve Comprehensive Battery Market Regulation, Promoting Sustainable Practices
The European Union (EU) is set to implement comprehensive battery market regulations following the approval by both the EU Parliament in mid-June and the EU member states. This milestone marks the conclusion of the legislative process, with the regulation expected to take effect in a few weeks. To foster a circular economy and regulate all…
-
Renault Chairman Warns of Impending “Chinese Storm” Threatening Europe’s Electric Vehicle Sector
In a recent interview with Reuters, Renault Chairman Jean-Dominique Senard sounded the alarm over a potential crisis facing Europe’s burgeoning electric vehicle (EV) industry. Senard described a looming “Chinese storm,” highlighting China’s dominance in key raw materials required for battery production, essential for zero-emission cars. Senard drew attention to China’s recent decision to impose restrictions…
-
Stellantis Takes Steps to Reduce Reliance on China for Rare Earth Metals Supply
Stellantis, the global car manufacturer, is aiming to decrease its dependency on China for rare earth metals used in electric vehicles. In pursuit of this goal, the company has signed a key point paper with NioCorp, an exploration company, for the potential supply of rare earths from the United States. While there is currently no…
-
Rivian’s Stock Surges as Analyst Upgrades Price Target, Citing Strategic Progress
Electric vehicle (EV) startup Rivian (RIVN) experienced a significant boost in its share price, surging more than 14% on Friday following an upgrade in its price target by Wedbush analyst Dan Ives. Ives highlighted the company’s “major turning point” in executing its strategy, resulting in an upward revision of Rivian’s stock price target from $25…
-
Nikola to Liquidate Romeo Power Assets, Shifting Battery Strategy
In a surprising turn of events, Nikola, the alternative-fuel truck manufacturer, has revealed its plans to liquidate the assets of battery manufacturer Romeo Power. This decision comes just 11 months after Nikola acquired Romeo Power for $144 million in stock, aiming to bolster its own battery pack production capabilities. Back when the deal was struck,…
-
Tesla’s Mexico Gigafactory Set to Commence Vehicle Production in Q1 2025, Report Reveals
According to a report from China-based publication Late Post, Tesla’s Gigafactory in Mexico is expected to commence vehicle production in the first quarter of 2025. Citing sources reportedly familiar with the matter, the report indicates a slight delay of one or two quarters from the initial projections. The primary reason behind this revised timeline is…
-
Study Estimates Need for 28 Million Charging Ports for 33 Million Electric Vehicles in the U.S. by 2030
A recent study conducted by the National Renewable Energy Laboratory, sponsored by the U.S. Energy Department, reveals that the United States will require approximately 28 million public and private charging ports if there are 33 million plug-in electric vehicles (PEVs) on American roads by 2030. The comprehensive study finds that meeting the increasing demand for…
