Toyota CEO doubles down on EV strategy amid criticism it’s not moving fast enough

A Toyota bZ4X on display at the New York Auto Show, April 13, 2022. Scott Mill | CNBC LAS VEGAS – Toyota Motor is sticking to its strategy for electric vehicles, including hybrids like the Prius, after criticism from some investors and environmental groups that the company is moving too slowly towards electric vehicles. Akio … Read more

China extends EV tax benefit; Li Auto Shares Fall After Delivery Outlook Cuts

Li Auto warned that “supply chain restriction” would mean the company will deliver fewer cars in the third quarter than expected. Meanwhile, China has extended a tax exemption for new energy vehicles until the end of 2023, as it appears to boost growth for electric cars. PHOTO | Future publication | Getty Images Shares of … Read more

Electric vehicle (EV) sales set to hit all-time high in 2022, IEA says

Tesla electric cars photographed in Germany on March 21, 2022. Electric vehicle sales are on track to reach an “all-time high” this year, according to the International Energy Agency. Sean Gallup | Getty Images News | Getty Images Electric vehicle sales are on track to hit an all-time high this year, but more work is … Read more

Volvo starts series production of heavy electric trucks

This image shows workers at the Volvo Trucks factory in Sweden. Volvo trucks Volvo Trucks said on Wednesday that production of three heavy-duty electric truck models is now underway, with the president telling CNBC the news was “a big moment” for the company. In a statement, Volvo Trucks said the electrified Volvo FM, Volvo FMX … Read more

Tesla evaluates Texas lithium refinery for electric car batteries

Elon Musk had previously suggested that Tesla could start using lithium refining on a large scale as the cost of the metal, an important component in battery production, has risen. If Tesla’s application is approved in Texas, construction on a lithium hydroxide refinery could begin in the fourth quarter of 2022. Christophe Gateau | Image … Read more

17 states weigh in on approval of California’s electric car mandate

MINNEAPOLIS — Seventeen states with vehicle emission standards bound by rules enacted in California face weighty decisions about whether or not to follow that state’s strictest new regulations that require all new cars, pickup trucks and SUVs to be sold by 2035. electric or hydrogen powered. Under the Clean Air Act, states must adhere to … Read more

EV makers face cash shortage amid rising battery, manufacturing costs

Production of Rivian R1T electric pickup trucks on April 11, 2022 at the company’s plant in Normal, Illinois. Michael Wayland / CNBC In the transition from gas to electric vehicles, the fuel every automaker needs today is cold money. Both established automakers and startups are introducing new battery-powered models in an effort to meet growing … Read more

Chinese province plans to ban sales of petrol cars

BEIJING — Hainan Island in the South China Sea says it will become the first region in China to ban the sale of petrol and diesel cars to curb climate-changing carbon emissions. The sale of fossil fuel cars will be banned by 2030 and electric vehicles will be promoted with tax breaks and by expanding … Read more

Hyundai Ioniq 5 named Car and Driver’s EV of the Year

New York CNN Business — Hyundai’s Ioniq 5, an electric model with a sharp-edged design, was named Car and Driver’s Electric Vehicle of the Year. It is only the second year that the award has been presented. Car and Driver staff praised the Hyundai’s performance – it draws up to 320 horsepower from two electric … Read more