In the race for mass production dominance of the EV market, manufacturers are avoiding expensive and rare materials like nickel and cobalt, even though their performance, when combined with lithium in batteries, is still the best. Instead, EV makers are using cheaper, "almost-as-good" lithium-iron-phosphate batteries. Reuters reports: As the auto industry scrambles to produce more affordable electric vehicles, whose most expensive components are the batteries, lithium iron phosphate is gaining traction as the EV battery material of choice. The popularity of the chemical compound known as … [Read more...]
Musk Estimates EVs Will TRIPLE Electricity Demand by 2045
Can power producers keep up with the demand for electricity if supporters of electric vehicles get their wish and transition the American fleet to electrical power? Elon Musk told utility executives they'll need to triple power production by 2045 to handle the buildup in demand for electricity. The Wall Street Journal's Rebecca Elliott reports: AUSTIN, Texas—Tesla TSLA 0.46%increase; green up pointing triangle Chief Executive Elon Musk said the company doesn’t expect to begin producing its new electric semitrailer truck in larger volumes until the end of next year, citing battery-supply … [Read more...]
America Still Isn’t Ready for Electric Vehicles
According to Christopher Mims in The Wall Street Journal, America is not ready for electric vehicles. He took a 1,000 mile trip in a Lucid Air Grand Touring and found America's electric vehicle infrastructure lacking at best. Mims also had serious concerns about the variability in the actual range electric vehicles can go compared to what is advertised. He writes: After my latest immersion in EVs, I have a list of issues that need to be tackled for the average car buyer to feel ready to go electric. 1. EV makers need to level with drivers about the true range of vehicles I have never … [Read more...]
FINALLY: Auto Parts Shortages Subside, Deliveries Accelerate
After enduring years of parts shortages, Japanese automobile manufacturers are speeding up deliveries in response to better parts availability. Hirofumi Yamanaka reports for Nikkei Asia, writing: Japanese automakers are making progress in reducing delivery times for new cars, thanks to easing chip shortages sparked by the COVID pandemic, according to a recent Nikkei survey of dealerships in Japan. For mainstay Toyota and Nissan models, delivery times have been cut in half from six months ago, the survey shows. Take Toyota's Yaris subcompact. In November, it took up to six months for a … [Read more...]
Is China Prepared to Dominate the EV Market?
Western governments have incited a global push for electric vehicles, and China has answered that call. Now China could dominate the industry the West had hoped to foster at home. Greg Ip reports for The Wall Street Journal: China rocked the auto world twice this year. First, its electric vehicles stunned Western rivals at the Shanghai auto show with their quality, features and price. Then came reports that in the first quarter of 2023 it dethroned Japan as the world’s largest auto exporter. How is China in contention to lead the world’s most lucrative and prestigious consumer goods … [Read more...]
The Push to Diversify Away from China
The advent of COVID-19 and the logistical problems it created, along with the looming threat of a military conflict over Taiwan, are encouraging many big Western firms to diversify their manufacturing operations away from China. Volkswagen and other automakers are looking to build a supply chain for electric vehicles outside of China. The Wall Street Journal's William Boston reports: BERLIN—Volkswagen VOW -0.33%decrease; red down pointing triangle is searching the world, from Canada to Indonesia, for supplies to make the batteries in electric vehicles it sells in the U.S. and Europe less … [Read more...]
Can Western Automakers Survive in China?
As local manufacturers catch up to and overtake offerings from Western automakers in China, is it still feasible for foreign companies to compete in the Middle Kingdom? Peter Campbell reports in the Financial Times: When a market turns against you, how should businesses respond? This is the question being pondered with some urgency across the automotive boardrooms of the world. The market is China, the world’s largest auto market. It was once the breadbasket of the industry, flush with a hugely profitable pool of newly-wealthy consumers, many of whom were eager to flaunt their status with … [Read more...]
Can Auto Sales Drive the Economy?
Sales are rising at motor vehicle dealers as consumers shift spending away from home furnishings toward new automobiles. Justin Lahart reports in The Wall Street Journal: What Americans are spending their money on is changing. But they keep spending more, nonetheless. And in one crucial category, there is reason to believe growth is just getting started. The Commerce Department on Tuesday reported that retail sales rose a seasonally adjusted 0.4% in April from a month earlier after slipping 0.7% in March. That was less than the 0.8% economists polled by The Wall Street Journal had … [Read more...]
Tesla Model Y Now Cheaper than Average U.S. Vehicle
Tesla has slashed prices on its Model Y over the last year with the latest cuts being announced this week. The lowest trim level Model Y is now cheaper than the average U.S. vehicle. While the difference is only marginal, if Tesla and other auto manufacturers can drive the cost of EVs significantly below the cost of internal combustion engine (ICE) vehicles, adoption may accelerate. Today's EVs are still an inferior product in the eyes of many consumers and the price hasn't reflected that. If that calculus changes significantly, so may perception and demand. Bloomberg reports on the price … [Read more...]
Toyota Bets on Practical Electric Vehicles
Toyota will roll out the Prius Prime to dealers in May. The Prius Prime is a plug-in hybrid gas-electric vehicle. While hybrids are known for combining gas engines and electric motors, the Prius Prime will operate primarily on battery power with the gasoline engine serving as a backup. Toyota is branding it a practical electric vehicle. Toyota, Ford Motor Co. and Hyundai Motor Co. are among global brands rolling out new plug-in hybrid gas-electric cars. While most hybrids on the road today combine gas engines with electric motors to save fuel, plug-in hybrids can drive primarily on … [Read more...]
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