Their adoption is one variable affecting the future of oil demand and carbon emissions.Dec 19, 2019 - Energy & Environment
Analysts remain in the dark about the future of the vehicles.Nov 22, 2019 - Technology
"It’s a gamble based on what you think will happen, but if you don’t do anything, then for sure you’re out of business."Oct 18, 2019 - Energy & Environment
Few changes in modern life will hit in more radical ways than how we get around.Oct 27, 2018 - Energy & Environment
GM said it agrees with President-elect Biden’s plan to expand the use of electric vehicles.Nov 23, 2020 - Energy & Environment
President-elect Biden's win could juice electric vehicle sales in the U.S. by a lot, per an analysis from the Center for Strategic and International Studies.
The big picture: Biden, who talks a lot about electric vehicles, is expected to try to scuttle Trump administration regulations that weakened the Obama-era auto mileage and emissions rule. And go even further.
General Motors announced Thursday that it is increasing its investment in electric vehicles and autonomous tech to $27 billion through 2025 — $7 billion more than prior plans — as it seeks a top global position.
Why it matters: It's the clearest sign yet that GM is hoping to challenge Tesla, which dominates U.S. electric vehicle sales. It was already on, but now the competition for the electric vehicle market of the future is really on.
The VC firm Brown Venture Group has agreed to invest seed funding in Ecolution kWh, a startup looking to commercialize tech that stores and dispatches kinetic energy from vehicle motion, the companies said Wednesday.
Driving the news: The amount of Brown Venture Group's financing was not disclosed, but the firm will be the lead investor in a seed round that's targeting at least $3 million, according to Ecolution.
Growing amounts of cash are pouring into electric vehicle development that is underway via startups and legacy players.
What's new: A report out this morning indicates GM will be announcing an expanded strategy to take on Tesla, plus the U.K. electric van and bus company Arrival announced it is going public.
A new coalition is launching — with Tesla, Uber, power giants like Southern Company, and others — that will push for electric models to account for 100% of new U.S. vehicle sales by 2030.
Why it matters: While electric vehicles are a growing technology, new corporate lobbying efforts — especially by powerful companies — could help spur faster growth in what remains a largely niche market.
British Prime Minister Boris Johnson is slated to announce this week that sales of new internal combustion vehicles will be banned by 2030, the Financial Times reports.
Why it matters: It would be among the world's most aggressive policies to bolster deployment of electric vehicles and curb transportation emissions.
The latest step in Ford's foray into electric vehicles is a cargo van arriving late next year with a starting price under $45,000.
Why it matters: Ford wants to defend its hold on the commercial vehicle market where there's growing demand for electric delivery and utility vans by companies looking to make good on carbon-cutting pledges or comply with new rules.
General Motors is pulling ahead the launch of two future electric vehicles and plans to add 3,000 new software jobs by early next year as it races to get electric vehicles on the road faster.
Why it matters: The hiring spree is a sign that GM is accelerating its transition toward an electric future by mid-decade. It comes as President-elect Joe Biden is also talking up electric vehicles as part of his climate and energy priorities.