Ford Set To Lose $4.5 Billion On Electric Vehicles This Year
Ford Motor Company announced it is projected to lose a whopping $4.5 billion from electric vehicles (EVs) this year, up from the previous projected loss of $3 billion. The company released its second-quarter financial results on Thursday. The U.S.-based automaker’s EV division, called “Ford Model…
Biden Admin Fires Next Regulatory Salvo In Its Push For EVs
The Biden administration proposed a new and ambitious set of fuel economy standards for cars and light-duty trucks Friday, its latest move to prod American consumers towards adopting electric vehicles (EVs). The National Highway Traffic Safety Administration (NHTSA), a subagency…
EU Rules Require EV Fast Charging Stations Every 60 Kilometers
The European Union has approved a new rules package for EV fast charging that requires there be a facility with at least 150 kW of power along all major transportation routes every 60 kilometers (37 miles) by 2025. According to The Verge, the…
GM Hires EV And Retail Leader For The European Market
GM has just announced that it has hired EV and retail leader Pere Brugal as the new chief commercial officer in Europe, where the company prepares a new market entry as an all-electric player. The automaker’s European subsidiary announced the hiring of…
VINFAST BREAKS GROUND AT NORTH CAROLINA ELECTRIC VEHICLE FACILITY
VinFast’s US factory project is the first electric vehicle manufacturing facility in North Carolina, as well as the largest economic development initiative in the state’s history. North Carolina Governor, Roy Cooper, Vietnamese Ambassador to the US, Nguyen Quoc Dung, and representatives from state and…
Mazda Kills Its Only EV In America As The MX-30 Is Dead
The Mazda MX-30 EV is dead in America as the brand has decided to focus its electrification efforts on the CX-50 Hybrid, CX-90 PHEV, and the upcoming CX-70 PHEV. While the crossover’s death will leave Mazda without an electric vehicle in the United States,…
WEX Venture Capital Seeks To Invest Up To $100M To Help Advance EV Fleet Transition
WEX (NYSE: WEX), the global commerce platform that simplifies the business of running a business, today announced that its Board of Directors has authorized a new investment arm of WEX, WEX Venture Capital, to invest up to $100 million through the…
Ford Beats Second Quarter Expectations With $1.9B Net Income Despite EV Costs
Ford Motor Co. beat Wall Street expectations with its second quarter earnings report released Thursday, increasing revenue 12% to $45 billion from the same period in 2022; a net income of $1.9 billion, and adjusted earnings before interest and taxes…
Hyundai Motor Eyes EV Charger Alliance in US To Take On Tesla
South Korea’s Hyundai Motor Co. and Kia Corp. are planning to join BMW, General Motors, Honda Motor, Mercedes-Benz and Stellantis to collectively invest at least $1 billion and build thousands of electric vehicle chargers in the US, the Wall Street Journal reported on Wednesday. The…
Nissan Global EV Sales Surpass 1-Million-Unit Milestone
Nissan Motor Co., Ltd. announces today that global sales of its electric vehicles have surpassed the 1 million unit milestone, with almost one third of which have been to European customers. Since its launch in December 2010, the Nissan LEAF…
