Tag: EVs

Elon Musk-led Tesla Zeroes in on Everyday Buyers After Winning Over Electric Vehicle Lovers
31Dec By adminNo Comments
Technology

Elon Musk-led Tesla Zeroes in on Everyday Buyers After Winning Over Electric Vehicle Lovers

[ad_1] Tesla Inc. is expected to say on Tuesday it had another record delivery year in 2023, in large part due to die-hard Elon Musk fans and tech-savvy early adopters. Now the company is working to widen its appeal. The Austin-based electric vehicle (EV) maker is estimated to have handed over almost 483,200 vehicles in the fourth quarter, according to analysts surveyed by Bloomberg. That means Tesla probably exceeded its goal to deliver 1.8 million cars last year, an all-time high for the company but just a fraction of what Toyota Motor Corp. or General Motors Co. normally sell.For its next phase of growth, Tesla has to win over everyday buyers, who primarily select vehicles based on price and ease of use. “When you look at car buying in general, we're trying get to the next set of EV ...
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US transition to electric vehicles faces delays
20Nov By adminNo Comments
Technology

US transition to electric vehicles faces delays

[ad_1] The US transition to electric cars has hit a speed bump, with concerns about vehicle range and limited charging capacity adding to core affordability issues.Automakers in recent weeks have pushed back EV sales targets and delayed capital projects as they seek to reduce inventories of unsold EVs at dealerships. "The slowdown in EV sales is much more pronounced than it is for other categories of vehicles and that isn't related to the economy," said Neil Saunders, managing director of GlobalData. "The EV has a problem attached to it," he said. "It's a much more difficult and complex purchase because of the range of the vehicles and the charging infrastructure."American consumers are accustomed to often-lengthy road trips for holidays or to visit friends and relatives, owing to the c...
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Electric car demand set to stall in Europe’s ‘valley of death’
14Nov By adminNo Comments
Technology

Electric car demand set to stall in Europe’s ‘valley of death’

[ad_1] After years of accelerating growth, Europe's electric car sales appear to be entering a go-slow zone as drivers wait for better, cheaper models that are two to three years down the road.Fully-electric sales in Europe were up 47% in the first nine months of 2023, but instead of celebrating, automakers including Tesla, Volkswagen and Mercedes-Benz sounded a sombre note. High interest rates and a subdued market are putting customers off, they warned, with Volkswagen's EV order intake half what it was last year. Dealers in Germany and Italy as well as research by four global data analysis firms say there is more behind the slower uptake than economic uncertainty, with the consumers unconvinced that EVs meet their safety, range and price needs."The main problem is uncertainty," said T...
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Royal Enfield looking to roll out uniquely differentiated electric bikes: CEO
22May By adminNo Comments
Technology

Royal Enfield looking to roll out uniquely differentiated electric bikes: CEO

[ad_1] Royal Enfield is developing 'uniquely differentiated electric motorcycles' and has already started investing towards product development and creating a supplier ecosystem around its Chennai-based plant, according to CEO B Govindarajan.The company, which is part of Eicher Motors, has announced a capex of ₹1,000 crore for the current fiscal with a focus on various aspects, including EV manufacturing and product development. Part of the capex would also go into the rolling out of new products from the company's existing internal combustion engine portfolio. "On the EV journey, we have been making steady progress. I can say Royal Enfield's EV journey is in the top gear now. Our intention is to create uniquely differentiated electric motorcycles with strong Royal Enfield DNA," Govind...
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Electric vehicles confront the leap to the mass market
22Dec By adminNo Comments
Technology

Electric vehicles confront the leap to the mass market

[ad_1] The past year was sobering for investors who poured money into Tesla Inc and rival electric vehicle startups that hoped to emulate Tesla CEO Elon Musk's success.As interest rates rose and financial markets gyrated, shares in many EV startups deflated. Rivian Automotive Inc, which had a higher market value than Ford Motor Co shortly after it went public in 2021, lost more than 70% of its value over the past year. Other EV startups fared worse. Electric van maker Arrival warned it could run out of cash in less than a year. Lucid Group Inc, backed by Saudi Arabia's sovereign wealth fund, struggled to build its sleek Air luxury EVs. Chinese Tesla challenger Xpeng Inc's shares lost more than 80% of their value. Now comes the hard part: Persauding more mainstream consumers to come alo...
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What Xiaomi’s Billionaire CEO Lei Jun Is Reading to Build Electric Vehicles
7Oct By adminNo Comments
Technology

What Xiaomi’s Billionaire CEO Lei Jun Is Reading to Build Electric Vehicles

[ad_1] Xiaomi CEO Lei Jun may be busy launching new smartphones, but it seems he’s still focused on his carmaking ambitions. Xiaomi Corp. co-founder Lei Jun may be busy launching new smartphones, but it seems he's still laser focused on his carmaking ambitions. The billionaire businessman has been asking friends in the auto industry for books to read to better understand the sector, according to a post he shared on Weibo, China's Twitter-esque social media service. Lei is personally spearheading a $10 billion project to make Xiaomi-branded electric vehicles by 2024. Lei compiled a reading list for China's week-long National Day holiday, chock full of biographies. His 12 recommendations include former Volkswagen AG CEO Ferdinand Piech's Auto.Biographie and more esoteric titles on ...
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More Than Half of US Car Sales Will Be Electric by 2030
21Sep By adminNo Comments
Technology

More Than Half of US Car Sales Will Be Electric by 2030

[ad_1] Biden’s climate spending is set to kickstart the market for Electric Vehicles, according to a new forecast from BloombergNEF. Just over half of passenger cars sold in the US will be electric vehicles by 2030, according to a report from BloombergNEF, thanks in part to consumer incentives included in the $374 billion in new climate spending enacted by President Joe Biden. Those incentives, among them a point-of-sale tax credit of up to $7,500 for a new EV purchase, are likely to boost the pace of adoption, BloombergNEF analysts found in the report. Prior to passage of the Inflation Reduction Act (IRA) in August, projections for EV sales by 2030 2030 came in at 43% of the US market. With the climate-spending measure in...
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