electricvehicles
ValueWalk
Tesla’s (NASDAQ:TSLA) share of the US electric vehicle (EV) market fell below the 50 percent threshold for the first time ever in 2024's second quarter, according to a July 11 report from Cox Automotive. The company’s dominant position in the American EV market, which it has held since the introduction of its Model S in 2012, took a hit on the back of competition from rival automakers, including EV manufacturers in China. Tesla accounted for 49.7 percent of EV sales in the US from April to June, down from 59.3 percent a year earlier. The decline came despite growth in overall US EV sales, whic...
Investing News Network
ValueWalk
Demand for lithium is expected to grow in the next 10 years as electric vehicle proliferation continues and the energy storage sector expands. While experts are optimistic about the market’s medium- and long-term fundamentals, the current market oversupply and weak EV sales have weighed on prices over the last year. Although prices have remained subdued through 2023 into 2024, investor interest in the battery metal market has grown, which was evident at Fastmarkets’ 2024 Lithium Supply and Battery Raw Materials conference. The four-day event saw record attendance, with more than 1,100 attendan...
Investing News Network
The electric vehicle (EV) market has boosted demand for commodities such as lithium and cobalt in recent years, making EV sales a good metric for evaluating the battery metals landscape. However, slowing growth in EV adoption in 2023 led to lower predictions for EV sales this year and lower prices for battery metals. Now that we’re half way through 2024, some interesting trends have emerged that may lead market participants to rethink their EV sales forecasts. With those factors at play, what are the key electric vehicle trends to watch? Here the Investing News Network (INN) takes a look at wh...
Investing News Network
US carmaker Fisker has filed for Chapter 11 bankruptcy protection in the District of Delaware, citing production issues and macroeconomic headwinds affecting the electric vehicle (EV) market. The California-based EV manufacturer, known for its eco-friendly and sustainable Ocean SUV, is in advanced discussions with financial stakeholders regarding debtor-in-possession financing and the potential sale of its assets. "Fisker has made incredible progress since our founding, bringing the Ocean SUV to market twice as fast as expected in the auto industry and making good on our promises to deliver th...
Investing News Network
ValueWalk
Volvo (STO:VOLV-B) has introduced a new supply chain tracker for its line of EX90 electric SUVs The Wall Street Journal reported on June 4 that the tracker will provide transparency about the origins of raw materials — such as lithium, cobalt and nickel — used in the Swedish carmaker's electric vehicle (EV) batteries. Known as a "battery passport," the tracker is a digital record that contains verified information on the raw materials' origins, weight, size and chain of custody, as well as the recycled content within each battery. The tool was designed to ensure responsible sourcing and improv...
Investing News Network
It wasn’t long ago that we covered that General Motors is looking into bringingplug-in hybrid vehicles to North America to assist in pushing towards electrification without forcing consumers to sacrifice the reliability of range and refueling just to have a vehicle that offers less emissions. With plug-in hybrids, that’s no longer a problem; you get the best of both worlds. For truck buyers, the Chevrolet Silverado and GMC Sierra are expected to be the first GM plug-in hybrid trucks the company will offer. CEO Mary Barra recently told The Detroit News in an interview that GM hybrid trucks are ...
Muscle Cars and Trucks
Privately owned critical materials company Wyloo announced on May 29 that it has secured a parcel of land in Sudbury, Ontario, to construct Canada’s first downstream battery materials processing facility. The project is geared at bridging a gap in the conversion of raw materials to battery-grade chemicals for Canada’s electric vehicle (EV) supply chain, while also reducing the country's reliance on imports. Construction is anticipated to align with the development of Wyloo’s Eagle’s Nest mine in Northern Ontario’s Ring of Fire region, with mine construction expected to commence in 2027 and the...
Investing News Network
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