European Commission President Ursula von der Leyen on Sunday said the European Union must act to address “distortions” created by the Biden administration’s Inflation Reduction Act (IRA)—part of Biden’s “Made in America” push. The EU and United States are treading precariously close to a major trans-Atlantic trade dispute at a time when the two Western…
EU Will Respond to ‘Distortions’ in Biden’s Inflation Reduction Act: Von der Leyen
December 4, 2022
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EV Boom Helps Drive Record US Sales for Hyundai and Kia
Demand for electric vehicles (EVs) helped drive record sales for South Korean automakers Hyundai and Kia in the United States last month, as EV adoption continues to grow and Tesla’s dominance of the market slips. Hyundai Motor America had “terrific” sales in November, especially for its lineup of “eco-friendly vehicles,” the company’s CEO Randy Parker…
Tesla Canada Asks for More Federal Subsidies
Tesla Motors Canada is asking for more federal subsidies in order to install charging stations “within a reasonable distance” for its electric car customers, says the company’s submission to a parliamentary committee. The proposal, however, means Canadian taxpayers will have to subsidize the installations. “Approximately 10 million Canadians or about one quarter of all Canadian…
America’s EV Boom Continues With Hyundai and SK On Battery Deal
November 30, 2022
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A South Korean battery maker will supply electric vehicle (EV) batteries to Hyundai Motor Group’s manufacturing plants in the United States, as government incentives and the auto industry’s move to electrify its car fleets continue to fuel EV-related investment. SK On, part of Seoul-based SK Group, and Hyundai announced the partnership on Nov. 30, saying…
Electric Vehicle Component Manufacturing Expands in Tennessee and North Carolina
Incentives to switch to electric vehicles are growing in the neighboring states of Tennessee and North Carolina. On Nov. 28, the Tennessee State Funding Board approved one of the largest cash grants in Tennessee history to win an economic development deal with LG Chem Ltd., a company that plans to invest $3.2 billion to develop…
US Commits to 100 Percent Zero-Emission Truck and Bus Sales by 2040
The United States on Nov. 17 committed to pushing to sell only zero-emission trucks and buses by 2040. U.S. Secretary of Energy Jennifer Granholm signed a global memorandum of understanding on the matter on Nov. 17 at a global summit on climate issues. Described by the Drive To Zero Campaign as the “world’s most ambitious agreement to address climate…
Report Questions Biden’s Push to Install E-Car Chargers at Gas Stations
November 19, 2022
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A well-known independent newsletter on fuel prices and gas stations has expressed skepticism about the addition of many more electric vehicle (EV) charging stations to U.S. gas stations, in line with Biden administration priorities when it comes to the country’s transportation infrastructure. The Nov. 17 edition of the Lundberg Letter called the advocacy of much…
Electric Vehicle Makers Are Taking Losses Due to Sky-High Manufacturing Costs
November 14, 2022
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Electric vehicle (EV) makers are burning through cash, as they are slammed with sky-high operational costs worldwide due to inflation. The EV automakers are failing to hit their delivery targets and are taking a financial loss due to higher prices, according to quarterly reports published over the past two weeks, reported Reuters. Meanwhile, the rising cost…
Volvo to Stop Selling Petrol Cars in Australia by 2026
Chinese-owned Swedish auto giant Volvo will stop selling petrol vehicles in Australia by 2026, four years earlier than its global target to transition to electric vehicles (EV) by 2030. Stephen Connor, managing director of Volvo Australia, said the move would give the carmaker a “strategic advantage” in the market. “There is no long-term future for…
Hyundai to Build $5.5 Billion US Electric Vehicle Plant, as New Tax Law Dims Sales Outlook
South Korean automaker Hyundai Motor publicly broke ground at an opening ceremony for a $5.54 billion electric vehicle (EV) and battery plant in Georgia. The new plant in Bryan County, which is 30 miles west of Savannah, is the biggest economic development project in Georgia’s history, after a series of new EV and battery project…
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