The extra weight that EVs typically carry stems from the outsize mass of their batteries. To achieve 300 or more miles of range per charge from an EV, batteries have to weigh thousands of pounds.
Without cost reductions, EVs will be too expensive for the middle class, shrinking the market and driving costs up more, CEO Carlos Tavares told reporters Thursday at the CES gadget show in Las Vegas.
Starting Jan. 1, many Americans will qualify for a tax credit of up to $7,500 for buying an electric vehicle. But a complex web of requirements is casting doubt on whether anyone will be able to receive the full $7,500 credit.
The company’s results have been solid this year in terms of profit and revenue, but electric vehicle models from other automakers are starting to chip away at Tesla’s dominance of the U.S. EV market.
GM is sticking by a pledge made by Mary Barra to sell more EVs in the U.S. than market leader Tesla by the middle of the decade.
EVs are soaring in popularity amid tax incentives and high gas prices, but how and where to charge up remains a dilemma that’s a barrier for most renters.
A total of 20 companies will receive grants for projects to extract and process lithium, graphite and other battery materials, manufacture components and strengthen U.S. supply of critical minerals, officials said.
The company has recently begun testing its first products with customers and is working to ramp up production in coming months.
Honda had also considered Indiana for the $3.5 billion plant, which is expected to employ 2,200 people when completed.
The company had been expected to choose either Ohio, where it has a plant in Marysville, or Indiana, where it has a plant in Greensburg, for the battery factory. It announced Ohio as the location on Tuesday.
The South Bend Regional Chamber says if the New Carlisle site is chosen for the project, the plant could generate an estimated $652 million in annual economic impact once fully operational.
The approval paves the way for the Indiana Department of Transportation to begin the process of installing more than 100 charging stations across the state.
U.S. Sen. Raphael Warnock from Georgia is raising concerns that the tax credit President Joe Biden signed into law last month could place some automakers at a competitive disadvantage.
Power companies are offering price breaks to customers who charge their electric vehicles at night, but that’s not an ideal time for a power grid that is switching increasingly to renewables and other clean energy sources.
The company said it will add two press lines at its Marion Metal Center and invest in upgraded equipment to equip new and future electric vehicle models, including the Chevrolet Silverado EV, GMC Hummer EV, Hummer EV SUV, and Cadillac Lyriq.
About 40 stations, including roughly a dozen in the Indianapolis area, will be partially funded through Indiana’s $100 million portion of the $1 trillion Bipartisan Infrastructure Law passed last November.
The Indiana Alliance for Equity Diversity Inclusion of Electric Vehicle Infrastructure and Economic Opportunities said the Indiana Department of Transportation’s planning process was flawed, and thus, inequitable.
The move by the California is likely to reshape the U.S. auto market, which gets 10% of its sales from the nation’s most populous state.
A joint venture between General Motors Co. and LG Energy Solution has filed a tax abatement application for a facility in New Carlisle that—based on similar projects elsewhere—could bring more than $2 billion in investment and more than 1,000 jobs to northern Indiana.
More than $4.8 billion has been pumped into the electric-vehicle charging industry this year—a combination of roll-out announcements, debt financing, investment and acquisitions. And this is just the deals that have disclosed financial figures.
