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by Natasha Lasky, ODP Staff Writer As the domestic electric vehicle market in the United States continues to hit its stride and new competitors vie in the race to electrify, Lucid Motors has emerged as an ultra-luxury competitor to EV darling Tesla Motors. This week, Lucid went public through a SPAC with Churchill Capital Corp […]
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The car battery was once thought to be one of the least interesting parts of an automobile, technically speaking. But things are changing now that the public has begun prioritizing sustainable transportation and lowering emissions. Wood Mackenzie, an energy research and consulting firm, suggests that electric vehicles will make up 18 percent of new car sales by 2030, which will increase the demand for batteries — and the materials to make them.
Why This Matters: According to Elon Musk, Tesla’s chief executive, mass-producing batteries is “The hardest thing in the world.”
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General Motors formally teamed up with Nikola Motors, inking a deal yesterday to help the electric-truck startup to develop and manufacture new electric truck models, in exchange for an 11% stake in Nikola Corp, The Wall Street Journal reported. Both company’s stock prices jumped after the announcement showing that investors are still sweet on big […]
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Investment in electric vehicles and their components and infrastructure continue to grow in spite of the pandemic and economic downturn, not to mention the infancy of the market. According to MarketWatch.com, there is “sky high” investor interest in clean energy and electric vehicle companies.
Why This Matters: Former Vice President Biden’s new clean energy jobs proposal revives the “cash for clunkers” program but in a way that would juice this market.
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In a major milestone for electric cars, Tesla announced yesterday that it has cracked the 400-mile barrier, a first for a production electric vehicle sold to the public. The company says the EPA will officially rate the new Long Range Plus version of the Model S for a 402-mile range. The new range is due […]
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CNBC reported yesterday that despite factory closures in China and the U.S., Tesla managed to eke out $16M in profit in the first quarter of the year, but it remains unclear how quickly its U.S. car plant and suppliers can ramp up production once it re-opens from Covid-19 restrictions.
Why This Matters: The COVID pandemic is a setback for many industries — but particularly ones working to get off the ground like electric vehicle manufacturing.
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