Greenland Technologies and Lonking Join Forces to Develop Heavy Electric Machinery for the U.S. Market Under the HEVI Brand
Greenland Technologies Holding Corporation (Nasdaq: GTEC) (“Greenland” or the “Company”), a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles, and Lonking Holdings Limited (“Lonking”, Hong Kong Stock Market ticker 3339.hk), one…
Biden Administration Announces a $1.7 Billion Plan to Juice EVs in America
The White House on Thursday said it would hand out $1.7 billion to help convert closed-down or at-risk auto manufacturing and assembly facilities to make electric and hybrid vehicles. The funding comes as growth in new electric vehicle sales has…
Volvo’s U.S. PHEV Sales Outsold EVs By A Ratio Of 9 To 1 In Q2 2024
Volvo Cars USA reported that in June, its car sales in the U.S. decreased by 28% year-over-year to 9,304. The company explained that the results were impacted by “third-party IT-related disturbances that affected retailers across the industry.” Volvo’s plug-in car…
Hertz is Giving Drivers Thousands off Slightly Used EVs
American car rental company Hertz made a big bet on electric vehicles in 2021, buying up 100,000 Tesla Model 3s for $4.2 billion, along with other EVs. That bet has not paid off for the company, but it could still…
EU Threatens Tariff Hike of up to 38% on Chinese Electric Vehicles
The European Union will hike tariffs on Chinese electric vehicles (EVs) on July 4, unless Beijing fail to agree a “solution” to subsidies that the bloc says are distorting its markets. The European Commission said on Wednesday that it would…
European Battery Manufacturer Pauses Development As EV Demand Cools
Troubling news for the electric vehicle market emerged from Europe on Tuesday. The first was the collapse of Porsche Taycan prices, and second, a battery plant owned by Stellantis and Mercedes-Benz halted development. All of this signifies sliding EV demand…
Democrat Calls Only 7 EV-Charging Stations Deployed Under US Program ‘Pathetic’
Just seven electric-vehicle (EV) charging stations have begun operating with funding from a $5-billion U.S. government program created in 2021, marking “pathetic” progress, a Democratic senator said on Wednesday. Automakers and others say drastically expanding EV-charging stations is crucial to…
Hyundai U.S. EV Sales Up 42% In May 2024, Best Ioniq 5 Sales Month Ever
As electric vehicle sales from several automakers continue to defy the “slowdown” narrative, Hyundai Motor America reported even more good news in May. The Korean automaker announced 78,485 vehicle sales last month, 12% more than a year ago. So far…
Canada Mulls Chinese EV Tariff Following U.S. Move but is Not Committing to it
Canada is looking at the massive new U.S. import tariffs on Chinese-made electric vehicles imposed by President Joe Biden earlier this month, but is not making any commitment to following suit north of the border. Chinese brands are not a…
Small, Well-built Chinese EV Poses a big Threat to the U.S. Auto Industry
A tiny, low-priced electric car called the Seagull has American automakers and politicians trembling. The car, launched last year by Chinese automaker BYD, sells for around $12,000 in China, but drives well and is put together with craftsmanship that rivals…
