Auto sales in Europe continued their upward trajectory in May, rising for the 10th month in a row.
New-car registrations increased 18% to 1.12 million vehicles, with battery-electric vehicle deliveries soaring 66%.
Category: Electric Vehicles (EVs) (Page 4 of 6)
Reuters »
Quality of new vehicles sold in the United States is declining as factors such as growing use of technology and lower build quality of certain parts are making the models more “problematic”, according to automotive consultant J.D. Power.
Build quality of certain parts such as audio systems and cup-holders have resulted in quality issues, the report said, which collected data from 93,380 purchasers and lessees of 2023 model-year vehicles.
The enormous loan — by far the biggest government backing for a US automaker since the bailouts in the 2009 financial crisis — marks a watershed moment for President Joe Biden’s aggressive industrial policy meant to help American manufacturers catch up to China in green technologies.
The new factories that will eventually supply Ford’s expansion into electric vehicles are already under construction in Kentucky and Tennessee through a joint venture called BlueOval SK, owned by the Michigan automaker and South Korean battery giant SK On Co. Ford plans to make as many as 2 million EVs by 2026, a huge increase from the roughly 132,000 it produced last year.
The cell plants VW is setting up in Germany, Spain and Canada will underpin its shift away from the combustion engine. The automaker has earmarked €20 billion ($22 billion) worth of investment through 2030 to try and turn its one-year-old battery unit PowerCo into a behemoth with 20,000 workers and enough capacity for 3 million EVs a year. VW on Wednesday mapped out a renewed profit push, with Chief Financial Officer Arno Antlitz telling reporters the company remains open to eventually selling shares in PowerCo.
NPR »
Riyadh aims to collaborate, rather than compete, with Beijing, while ignoring the western’s concern over the two countries’ growing ties, as it looks to diversify its economy away from oil.
Tourism is a pillar of Saudi Vision 2030, and China ranks very high globally as a source of tourists.
Al Jazeera | Reuters | Al Jazeera | The Guardian
Al Monitor » “Saudi Arabia aims to diversify economic partnerships, decrease dependency on traditional allies, such as the United States, and sees China as a crucial market for oil exports,” Soliman told Al-Monitor. “Riyadh also seeks greater Chinese investment in non-oil sectors and expertise in infrastructure, technology, and renewable energy.”
The share of electric vehicles in sales of new passenger vehicles is set to more than double globally in the next few years — to 30% in 2026. Their penetration in some markets will be even higher, with EVs reaching 89% of sales in the Nordics, 52% in China and 42% in Europe. Our latest near-term EV sales outlook is brighter than what BNEF published last year, mostly due to policy changes in the US, where a major investment push sparked by the Inflation Reduction Act will help more than triple the share of EVs in new sales, to 28% by 2026.