Hyundai Motor Group, which owns both the Genesis, Hyundai, and Kia auto brands, made a significant investment in the US, purchasing a building in the in the Tribeca neighborhood of Manhattan to house offices and a showroom.
Source :: Bloomberg
Category: Trends (Page 4 of 10)
The European Parliament has given a green light to a plan to stop the sale of petrol and disel cars starting in 2035.
This is a crucial part of the European Union’s plan to become a “climate neutral” economy by 2050.
LMC Automotive reported the EV market closed 2022 with an aggressive 76% year-on-year growth rate and exceeded a 5% market share, nearly doubling the prior year’s share of 2.7%.
The end-of-the-year sales push carried December 2022 to a new 77,600-unit sales record as legacy OEMs worked in unison to release competitive models to end Tesla’s dominance.
Source :: LMC Automotive
Excerpt from Google’s Year in Search 2022 report »
Concerned about the future, people are looking for items and experiences that provide good value. But value goes beyond price point. It also covers brand trustworthiness as measured by reviews, product popularity, and sustainable options.
Google’s Year in Search 2022
State-level incentives for going electric hold more power these days, with sustainable-car buyers actively looking for savings and benefits. U.S. search interest for “ev tax” grew by 115% YOY, “cheapest electric car” by 135% YOY, “electric vehicle tax credit” by 75% YOY, and “cost to charge” by 70% YOY.
The specific attention to affordability follows a surge in general curiosity about the market, with U.S. search interest for “ev cars” and “plug in hybrid” growing by 120% YOY and 115% YOY, respectively. Meanwhile, U.S. search interest for “electric pickup truck” rose by 45% YOY, a sign of how the market is expanding to meet more needs.
“The auto industry is one space that’s poised for brand loyalty to be upended, since by the end of 2025 there will be over 150 new electric vehicle models in the market versus the 30 that are available now,” said Thomais Zaremba, managing director of automotive at Google. “With the EV market expected to grow five times its size soon, auto marketers will need to start investing in brand marketing for these new models today to ensure they emerge well positioned and top of mind when EV options increase for shoppers tomorrow.”
Auto isn’t the only vertical reflecting consumer interest in both sustainability trends and the savings they can bring. The phrase “cheap alternative to” saw a 30% YOY increase in U.S. search interest with breakout searches like “alternative airlines” and “cheap flights.” People are also more curious about saving energy at home, with U.S. search interest for “is solar worth it” rising 40% YOY.
Thomais Zaremba, Managing Director of automotive at Google, made a similar point only a months ago.
The trend for electric vehicles in Canada is bright.
Statistic Canada has crunched the data have reported that in the third quarter (Q3) of 2022 (Q3), 394,348 new motor vehicles were registered in Canada. This represents a decline of 8.7 percent from the previous quarter and an 11.7 percent decline from the third quarter of 2021.
Meanwhile, 34,313 new zero-emission vehicles (ZEVs) were registered in Q3 2022, comprising 8.7% of total new motor vehicle registrations.
The energy transition will require a rapid deployment of renewable energy and electric vehicles where other transit modes are unavailable. EV batteries could complement renewable generation by providing short-term grid services.
The journal Nature has publish the peer-reviewed study by a team of Dutch and US researchers which shows that EV batteries alone could be used to satisfy short-term grid storage demand across most regions by as early as 2030.
Researchers from the Institute of Environmental Sciences (CML), Leiden University, in the Netherlands, and the US Department of Energy’s National Renewable Energy Laboratory (NREL), estimate that low participation rates for vehicle-to-grid (V2G) technology of just 12% to 43% are required.
However, estimating the market opportunity requires an understanding of many socio-technical parameters and constraints.
Their report “Electric vehicle batteries alone could satisfy short-term grid storage demand by as early as 2030”, was published online at Nature Communications.
Media » TechXplore / Electrek / PV Magazine
SEA Electric has made the next step in its journey to electrify the world’s commercial vehicle fleet, by signing a significant Memorandum of Understanding with MEVCO (Mining Electric Vehicle Company), a leading systems integrator focused exclusively on electric light commercial vehicles within the mining industry.
The partnership will mean 8,500 Toyota Hilux and Landcruisers will be converted to all-electric for the mining industry, over the next five years.
Toyota offers only one all-electric vehicle, globally, the bZ4X, and then only in very limited numbers. Toyota has staked out a pretty staunch “hybrids-only” approach to its vehicle lineup, and it’s pretty safe to say that the Japanese carmaker has not been favourably disposed to converting to an all-electric lineup. This has opened the door for others.