electric vehicles Archives

The Rise of Chinese Electric Vehicles: A Global Disruption

December 18, 2023December 18, 2023 Business

Chinese electric vehicles (EVs) are gaining global attention as they spread around the world. Nissan recently announced its plans to sell China-developed EVs globally, taking advantage of the lower manufacturing costs in China. This move showcases China’s increasing influence in the car manufacturing industry and compels global players to adapt their strategies to remain competitive. By dominating the EV supply chain and offering competitive pricing, Chinese EV makers are disrupting the global market. However, concerns about quality and safety remain. As China’s EV industry continues to grow, its impact on the global automotive market will only increase.

The Rise of Chinese EV Makers: Elon Musk Praises China’s Manufacturing Prowess and Work Ethic

November 30, 2023November 30, 2023 Business

Elon Musk has praised the manufacturing prowess and work ethic of Chinese EV makers at the New York Times Dealbook conference. He suggested that the top 10 automakers of the future might be mostly Chinese with Tesla still leading the pack. Chinese companies like BYD are increasingly gaining recognition for their manufacturing capabilities and are expected to overtake Tesla in global EV sales. Chinese automakers, including Nio and Xpeng, are seen as having a promising future. Chinese EV makers have quickly developed and scaled their operations, posing a significant challenge to US automakers. China’s dominance in the EV supply chain, along with its large market and affordable pricing, makes it a formidable force in the industry. Musk considers the Chinese league to be the most competitive in terms of EV innovation and manufacturing.

Tesla’s Troubles: The Absence of Musk and Concerns over Twitter

November 17, 2023November 25, 2023 Business

Tesla investors have concerns about the company’s future, as sales are propped up by price cuts and there are delays in the launch of a new entry-level car. CEO Elon Musk’s absence and focus on Twitter are causing frustrations among shareholders. Musk’s recent endorsement of an antisemitic post has drawn criticism, with investors urging him to stop making such remarks to protect the Tesla brand. Furthermore, Musk’s political views and actions have raised concerns. Despite these challenges, some investors maintain faith in the company, while others turn to rival carmakers like Rivian.

Exxon Mobil Drilling for Lithium in Arkansas for Electric Vehicle Production

November 14, 2023November 22, 2023 Business

Exxon Mobil is venturing into lithium production in southern Arkansas, with plans to start producing lithium for electric vehicles by 2027. The oil giant aims to meet the lithium demand of over 1 million electric vehicles by 2030. The project is expected to have a positive impact on the local economy and transform the state of Arkansas. Exxon Mobil’s extraction process, which involves conventional drilling methods and direct lithium extraction technology, is more sustainable and produces fewer carbon emissions than traditional lithium mining methods.

Tesla Begins Deliveries of Cybertruck on November 30

October 18, 2023November 23, 2023 Technology

Tesla will start delivering the highly anticipated Cybertruck to select customers on November 30. The luxury EV SUV will be produced in Tesla’s Texas Gigafactory starting next year. The vehicle’s electrical architecture is being redesigned to accommodate an 800-volt standard for faster charging. Elon Musk acknowledged the challenges of scaling up production for the Cybertruck but expressed his excitement for the product. Tesla has seen a sequential decline in production and deliveries this quarter and has lowered vehicle prices multiple times. The company is investing in AI development and is now allowing Hertz rentals access to the Tesla App.