President-elect Donald Trump made a multitude of “day one” promises throughout the campaign to begin work on an array of issues, setting himself up for an extremely busy first day back in office.
Read More
Volkswagen (VW) said Wednesday that it needs to cut costs amid slackening consumer demand for electric vehicles (EVs) and weaker car sales in China.
VW’s profits fell 64% in the third quarter of 2024, driving the company’s share price to its lowest level since October 2010. Now, the world’s largest automaker by sales is looking to lower its expenses, with VW’s top labor leader announcing earlier this week that the company was aiming to shut at least three of its German factories, slash wages 10% and lay off thousands of employees.
Read More
California made climate history in 2020 when the state became the first in the nation to create an electric vehicle mandate, which eventually became a key part of the Biden-Harris climate agenda. Now the state wants to do the same for motorcycles, despite the problems the EV push has faced over the past four years.
Read More
In September, thousands pagers and walkie-talkies held by members of Hezbollah exploded. The incident appears to have been the result of explosives hidden within the batteries of the devices by Israel’s intelligence service, Mossad, and the Israeli military, then triggered remotely.
Read More
Automakers have continued to backpedal on electric vehicle (EV) targets over the last year as a slackening of consumer demand has hampered growth despite the billions in subsidies lavished on the industry by the Biden-Harris administration.
A wide array of auto manufacturers have abandoned key EV goals since February, with Volvo, Ford and Mercedes-Benz all dialing back electric quotas or dropping previously planned product lines. The shifts in corporate strategy suggest the EV transition — once touted by auto executives like Ford CEO Jim Farley as the industry’s future — may not be as feasible as once thought due to consumer aversion to lower mileage ranges, a lack of charging infrastructure and higher prices, experts told the Daily Caller News Foundation.
Read More
Electric-vehicle startup Fisker may file for bankruptcy as the declining pace of consumer demand weighs upon the struggling company.
In a March 15 8-K filing with the Securities and Exchange Commission, the company warned investors that “Fisker did not make a required interest payment of approximately $8.4 million payable in cash on March 15, 2024 (the “Interest Payment”) with respect to Fisker’s unsecured 2.50% convertible notes” and that “the Company has a 30-day grace period to make the Interest Payment.”
Read More
In a story that seems to be becoming increasingly common as time goes on, The Western Journal reported this week about a Canadian EV owner experiencing some massive sticker shock over the cost of replacing the damaged battery in his electric vehicle.
Read More
About 4,000 auto dealers from all 50 states have signed a letter to President Joe Biden saying electric vehicles are “stacking up on our lots” as the demand for electric cars has “stalled.”
“BEVs [battery electric vehicles] are stacking up on our lots,” the auto dealers stated in the letter. “Last year, there was a lot of hope and hype about EVs. Early adopters formed an initial line and were ready to buy these vehicles as soon as we had them to sell. But that enthusiasm has stalled. Today, the supply of unsold BEVs is surging, as they are not selling nearly as fast as they are arriving at our dealerships – even with deep price cuts, manufacturer incentives, and generous government incentives.”
Read More
New Internal Revenue Service (IRS) guidelines for the federal electric vehicle (EV) tax credit are a “recipe for fraud,” warns the head of the Tax Foundation.
Consumers will now be able to automatically claim the tax credit at the point of sale on new or used EV purchases, rather than wait to claim it on their tax return, according to the latest Treasury Department guidance.
Read More
Michigan is trailing Illinois and Minnesota in the Midwest race to register the most electric vehicles.
Illinois leads with nearly 80,000 EVs, while Minnesota has 41,417 and Michigan has 34,380.
Read More
A Michigan woman is leading an effort to try to oust elected officials in her township for allowing the maker of electric vehicle batteries with ties to China to open a plant in her township.
The headquarters for battery maker Gotion Inc. is in California, but its parent company, Gotion High-tech, is based in China, which is raising concern about its connections to the Chinese Communist Party and national security.
Read More
The U.S. Department of Energy (DOE) on Thursday announced a conditional loan of up to $9.2 billion to a joint electric vehicle venture between Ford and Korean battery maker SK On.
When combined with state subsidies offered to the joint venture, known as BlueOval SK, the record-breaking loan means that taxpayers will be financing nearly the entire $11.4 billion investment by Ford and SK, according to Blomberg. The loan is the latest in a series of increasingly large offers from the DOE’s Loan Program Office (LPO), which had its lending authority surge to $400 billion — more than 10 times the $33 billion it has issued since 2009 —following the passage of President Joe Biden’s signature climate law, the Inflation Reduction Act.
Read More
This list could be closer to 50 but let’s just stick to a handful of them. I literally live in this business every day, and I’m just so confused.
Read More
Hundreds of people protested against a Chinese-owned electric vehicle battery plant being constructed in northern Michigan due to concerns about national security.
“How many abuses have we seen over the years from China? And to think that they will set up a battery factory in our state and they will just play by the rules? That makes no sense whatsoever,” Michigan Republican Chair Kristina Karamo said at the protest Saturday, NewsNation reported.
Read More
The Environmental Protection Agency on Wednesday announced what is being considered its strongest-ever proposed pollution standards for gas-powered vehicles – which if enacted would effectively mandate that 67 percent of new passenger vehicles sold in the U.S. in 2032 must be zero-emission ones.
The rule has been expected for weeks and is a dramatic, proposed increase from President Biden’s stated goal of 50 percent zero-emission passenger car sales – including battery-powered electric vehicles, plug-in hybrids and fuel-cell vehicles – by 2030. It would also likely and dramatically increase EV sales, which accounted for just 5.6 percent of new car sales in the U.S. last year, according to Road & Track.com.
Read More
In a video released Monday morning, Gov. Gretchen Whitmer touted Democrat’s accomplishments in their first 100 days of office.
She again claimed that she “secured” 35,000 auto jobs since 2019.
Read More
Insurers are being forced to write off many electric vehicles with only minor damage to battery packs, sending the batteries to scrap yards and hindering the climate benefits of going electric, Reuters reported.
Battery packs typically represent roughly half the cost of an electric vehicle, sometimes costing tens of thousands of dollars, often making it more economical for insurers to consider a car as totalled than replace a battery pack, according to Reuters. While many carmakers, including Ford and GM, told Reuters that their battery packs were repairable, many are unwilling to share key data with third-party insurers to help assess damage.
Read More
General Motors announced Thursday it’s offering voluntary buyouts to some salaried U.S. employees.
The automaker is looking to cut $2 billion in fixed costs by 2024 as the company transitions its manufacturing operations to produce electric vehicles.
Read More
Electric vehicle battery supplier Our Next Energy says taxpayer subsidies are key to “accelerating” the buildout of a North American battery supply chain, stabilizing Michigan’s grid, and declaring energy independence from China.
Deeana Ahmed, Our Next Energy’s vice president of strategy and sustainability, testified Wednesday in front of the House Appropriations Committee.
Read More
First, don’t blame the vehicle. It is a tool that might be just what Los Angeles needs to cope with inversions. Electric vehicles are also very good as airport shuttles and for other locations where short, repetitive routes are the primary use. Some may even be fun to drive (except when they catch on fire).
Read More
Gov. Gretchen Whitmer wants to spend $60 million on electric vehicles (EV), including electrifying the state’s fleet. However, the production of EVs is beset by a supply chain riddled with shortages in addition to environmental concerns.
Whitmer’s proposed 2023 budget aims to spend $50 million to subsidize new EV sales or a $500 rebate for at-home charging equipment for new or used EVs. Another $10 million would start converting Michigan’s roughly 13,637-vehicle fleet to EV.
Read More
In his State of the Union Address on Tuesday, President Joe Biden promoted electric vehicles (EVs), trumpeting his plans to establish “a national network of 500,000 electric vehicle charging stations.” In so doing, Biden is unwittingly supporting the worst humanitarian abuses in the world. This is because of the way in which the materials used in manufacturing the batteries that power today’s EVs are obtained.
To obtain a reasonable amount of power per pound of battery weight, EV manufacturers generally use various forms of lithium-ion (Li-ion) batteries, so named because the battery’s positive electrode, called the cathode, is largely made up of the highly reactive metal lithium (Li). To keep the cathode stable when a battery is not in use, the lithium is combined in a metal oxide matrix, with different manufacturers using different combinations of metals.
Most EV manufacturers combine lithium with nickel, cobalt and manganese to create a Li-Ni-Mn-Co oxide matrix to form the cathode. Tesla substitutes aluminum (Al) for the manganese, yielding a Li-Ni-Co-Al oxide matrix for the cathode on their batteries. Tesla maintains that their formulae is more cost-effective as less cobalt is required.
Read More