Approximately 14 million electric car vehicles were sold across the world in 2023, in which it made up 18% of total car sales, up from 14% in 2022.
Automakers have taken various measures to counter the headwinds facing the EV market. Lowering prices has been one strategy, with the average cost of an electric vehicle dropping nearly 20% to $53,438 in the past year. Manufacturers have also capitalized on a loophole in the Inflation Reduction...
driven largely by a 9 percent increase in U.S. sales, its top market. However, Honda faced challenges in China, with sales dropping 23 percent to 416,000 vehicles due to intense price competition and a rapid decline in the internal combustion engine vehicle market. ...
as sales reached a record high. With the cost of EVs dropping, the possibility of tax credits, and improvements in technology, an EV may make good financial sense over time, especially when gas prices are high.
If you’ve been curious about switching to an electric vehicle, the recent surge in sales could be the push you need. As EVs become more popular, they’re also becoming more practical. Prices are dropping, technology is improving, and charging stations are becoming more common. This...
Volkswagen makes way for next EV model by dropping a gas car from lineup Volkswagen is making way for an all-electric vehicle to move into its lineup by removing a gas car from production as early as 2024. The German automaker is reportedly preparing to eliminate the Arteon, a sedan ...
Future research will focus on the opportunities to electrify vehicles used by India's booming ridesharing market and on the deployment of charging infrastructure needed to support large volumes of EVs, Abhyankar said. India's ambitious electrification plan is attainable, particularly given dropping costs...
Electric vehicles are near a tipping point. Global EV sales hit arecord highin the second quarter of this year. In China, gas and diesel vehicle sales are dropping quickly enough that they could be obsolete by 2028. In the U.S., a record 1.2 million EVs were sold last year, and t...
BYD always aims to make battery safety its key indicator of quality. BYD puts its batteries through rigorous safety tests, from burning, to overheating, dropping, perforation, crushing, and even shooting nails through their casings. Throughout these tests, BYD batteries have proven extremely safe,...
To wit, Gartner has predicted that EVs will be cheaper to produce than ICE vehicles of the same size in three short years, thanks in large part to improvements in manufacturing methods with production costs dropping faster than battery costs. By Alex Kimani for Oilprice.com More Top Reads ...