Prime Minister Justin Trudeau says Ottawa has reached a deal with Umicore, a global materials technology and recycling group, to build a new battery facility in Ontario’s Loyalist Township. Speaking at Queen’s University in Kingston, Ont., today, the prime minister says the facility will supply materials for one million electric vehicles a year. Trudeau says…
Trudeau Announces Deal for New Electric-Vehicle Battery Plant in Ontario
Biggest Reason Why People Aren’t Buying Electric Cars Revealed in New Survey
A survey discovered that charging logistics is the primary reason why Americans aren’t buying electric vehicles. Consumer Reports, which said it surveyed around 8,000 Americans, found that 61 percent said they wouldn’t seek to own an electric vehicle because of charging logistics while 55 percent cited the number of miles a vehicle can go per…
Volkswagen, Siemens Among Companies Investing Over $700 Million to Boost EV Charger Production
June 29, 2022
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Business & MarketsCompanieseconomic policieseconomyelectric vehicleEnvironmentScienceSiemensUSUS NewsVolkswagen
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Private companies including Volkswagen and Siemens have pledged to invest more than $700 million to boost U.S. manufacturing capacity for electric vehicle (EV) chargers, the White House announced on Tuesday. The move is set to increase domestic capacity to manufacture more than 250,000 new EV chargers every year and will add at least 2,000 jobs, while…
Vigna to Set out Ferrari’s Route Into Electric Vehicle Era
MILAN—Nine months after taking the top job, Ferrari CEO Benedetto Vigna will be expected this week to explain how the carmaker will preserve its cachet—and top tier prices—in a future of electrified cars. The Italian luxury sports carmaker is set to unveil its much awaited business plan on Thursday, heading into the new era of…
China’s Dominance in Global Lithium Supply Poses Risks to US Companies: Report
June 10, 2022
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battery supply chainBusiness & MarketsBusiness ColumnistsChinaChina Business & Economyelectric vehicleEVEV batteriesHong Konglithium minesLithium SupplyUSUS-China relations
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China’s control over the global lithium supply chain presents elevated risks to downstream U.S. companies as Chinese companies continue to expand their footprints in overseas lithium mines. “We love our suppliers, and we have a very strong relationship, but we are very dependant on the supplies coming from China. … We think there are risks…
Volkswagen’s Race With Tesla Will Be Tight, Diess Says
BERLIN—Tesla works at twice the industry pace in many processes but still needs to ramp up highly complex factories and find qualified workers to win the electric vehicle race, Volkswagen’s chief executive said on Wednesday. The U.S. carmaker, posing a challenge to German electric vehicle production with its new plant near Berlin, had the advantage…
Americans Less Likely Than Other Nationalities to Buy Electric Cars: Mobility Survey
Americans are less likely to buy an electric vehicle (EV) compared to people from other nations, according to the latest EY Mobility Consumer Index from EY Global, which also showed that a high proportion of survey respondents who were likely to buy an EV would be willing to pay a premium for it. Among the…
Cost of Electric Vehicle Batteries May Increase 15 Percent Amid Supply Chain Disruptions: Report
May 24, 2022
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Business & EconomycommoditiesCompanieseconomyelectric vehicleinflationInternationalMarketssupply chain disruptionUkraineWorld
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The cost of electric vehicle batteries is set to soar amid the ongoing Russia–Ukraine conflict and supply chain disruptions, the International Energy Agency (IEA) warned on Monday. While electric vehicle sales have remained strong so far this year with 2 million electric cars sold worldwide in the first quarter, IEA said that further efforts to diversify battery…
Hyundai Motor Group to Invest $5.5 Billion to Build EV, Battery Facilities in US
WASHINGTON/SEOUL—South Korea’s Hyundai Motor Group said on Friday it plans to invest about $5.54 billion to build its first dedicated full electric vehicle (EV) and battery manufacturing facilities in the United States. Hyundai will break ground on its new facility in Georgia in early 2023 and is expected to begin commercial production in the first…
New Zealand Government to Use Emission Trading Scheme to Fund EV Rollout
May 17, 2022
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Asia & PacificAustraliaBusiness & Economyclimate changeeconomic policieseconomyelectric vehicleJacinda ArdernNew ZealandWorld
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New Zealand families will be encouraged to scrap their old vehicles in exchange for low-emission alternatives under the government’s Emissions Reduction Plan, with more details to be revealed when the 2022 budget is released. “This is a landmark day in our transition to a low emissions future,” Prime Minister Jacinda Ardern said. “This is a…
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