WASHINGTON—The Biden administration will allocate more than $3 billion in infrastructure funding to finance the electric vehicle (EV) battery manufacturing, U.S. officials said on Monday. The funds will be allocated by the Department of Energy from the $1 trillion infrastructure bill President Joe Biden signed last year. Among the initiatives will be processing of minerals…
US to Spend More Than $3 Billion on EV Battery Manufacturing: White House
May 4, 2022
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More Cars, SUVs to Qualify for Electric Vehicle Rebates as Feds Expand Program
More electric vehicles will be eligible for rebates as the federal government raises the maximum qualifying price starting next week. Transport Minister Omar Alghabra says as of Monday, cars with a base price of $55,000 and maximum price with options of $65,000 can get the rebate. SUVs, pickup trucks and vans with a maximum base…
Capitol Report (April 8): NASA Launches Businessmen into Space
April 8, 2022
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The White House celebrates Ketanji Brown Jackson’s confirmation. She will become the first black woman to serve on the Supreme Court. Now that Jackson is headed to the Supreme Court, the reviews are coming in about her Senate hearing process. Was she treated as fairly as previous Justices? President Joe Biden’s goal is to make half…
Tesla Delivers Record Vehicles in Q1; Output Falls as China Shutdown Weighs
Tesla Inc. on Saturday reported record electric vehicle deliveries for the first quarter, largely meeting analysts’ estimates, but production fell from the previous quarter as supply chain disruptions and a China plant suspension weighed. “This was an *exceptionally* difficult quarter due to supply chain interruptions & China zero COVID policy,” Chief Executive Elon Musk wrote…
Affordability the Biggest Challenge for Electric Truck Producers
The cost of building an electric truck will always be more expensive when compared to a truck running on a traditional combustion engine, according to Martin Daum, CEO of Germany-based Daimler Truck. The high price of critical materials needed to build electric trucks makes the vehicle more expensive, Daum said in an interview with FT….
Evergrande Electric Vehicle Arm to Start Taking Car Orders ‘Imminently’
March 28, 2022
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HONG KONG—China Evergrande New Energy Vehicle Group said it will start accepting orders for its inaugural electric car, the Hengchi 5 sport utility vehicle, “imminently” and open sales centres in 15 major cities across the country. Liu Yongzhuo, president of the electric vehicle (EV) arm of the world’s most indebted property developer, China Evergrande Group,…
Consumers Switching to Electric Bikes as Gas Turns Expensive
The demand for electric bikes is increasing as people desperately seek cheaper alternatives for travel amid rising gas prices. The price of regular gas was $4.26 on March 19, up over 20 percent from a month ago, and more than 47 percent from a year back, according to data from American Automobile Association. Electric bikes…
Volkswagen, Ford Deepen Electric Vehicle Cooperation
FRANKFURT—U.S. carmaker Ford on Monday unveiled plans for seven new electric models in Europe, a battery-assembly site in Germany and a nickel cell manufacturing joint venture in Turkey as part of a major electric vehicle (EV) push on the continent. “Our march toward an all-electric future is an absolute necessity for Ford to meet the…
Ford CEO: No Plan to Spin Off EV Business, but Change Coming
DETROIT—The CEO of Ford Motor Co. says the automaker has no plans to spin off its electric vehicle or internal combustion businesses, but is reinventing itself by removing costs and ramping up for large-scale EV and software sales. Ford CEO Jim Farley told the Wolfe Research virtual global auto technology conference Wednesday that the company…
Ford Curbing Vehicle Production Citing Shortage of Chips
Ford is cutting down production at eight factories starting Feb. 7 as the company recently warned that a shortage of computer chips would cause a fall in vehicle volumes for the first quarter of 2022. Production at plants in Chicago, Michigan, and Cuautitlan, Mexico, will be suspended, according to Reuters. At factories in Kentucky, Louisville,…
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