According to foreign media reports, the Munich research institute Ifo Institute said that due to automakers including Volkswagen Group to reduce the output of high-cost factories, the German automotive industry’s capacity utilization rate has fallen to about 78%, 9 percentage points lower than the long-term average. More than 43 percent of respondents complained of a lack of orders, compared with 29 percent in April this year. On August 5, Ifo announced that business expectations for the German automotive industry slipped from “-9.5 points” in June this year to “-18.3 points” in July this year. Over the past few […]
On August 6, the National Development and Reform Commission (NDRC), the National Energy Administration (NEA), and the National Data Agency (NDA) issued the Action Program for Accelerating the Construction of a New Type of Electricity System (2024-2027) (the “Action Program”). The Action Program puts forward a number of specific initiatives in response to the actual situation of rapid development of electric vehicle charging infrastructure. Among them, the Electric Vehicle Charging Facilities Network Expansion Action is also listed as one of the nine special actions to be focused on in 2024-2027. As China’s new energy vehicle development into […]
The National Transportation Safety Board (NTSB) has said that the agency is investigating a recent accident that occurred on the evening of August 5 in Belle Glade, Florida, when an SUV drove into a canal, killing at least nine people, including six children, according to foreign media reports. Reports say that six children between the ages of 1 and 14 were killed in the accident. Three other women were also killed, including the 56-year-old driver. A 26-year-old male passenger was the only survivor. The Palm Beach County (Palm Beach County) Sheriff’s Office (PBSO) said that four people died at the scene following […]
August 7, 2024 – Rivian Automotive Inc., the electric vehicle (EV) manufacturer, has announced a notable increase in revenue for the second quarter of 2024, demonstrating strong business performance amid a rapidly growing market. The company also reaffirmed its full-year production and profitability outlook, signaling confidence in its ongoing operations and future growth. Rivian’s second-quarter financial report reveals a significant rise in revenue, attributed to the continued strong demand for its electric vehicles, particularly the R1T pickup truck and the R1S SUV. The company has successfully ramped up production capabilities and improved its supply chain efficiency, contributing to the revenue boost. Despite the challenges of scaling up production […]
August 7, 2024 – Ford Motor Company has announced a 31% year-over-year increase in its pure electric vehicle (EV) sales in the U.S. for July 2024. This significant growth underscores Ford’s strong performance in the electric vehicle sector and further solidifies its position in the global EV market. According to the data released by Ford, the company achieved a record high in pure electric vehicle sales for July. The surge is attributed to the popularity of several new electric models, including the F-150 Lightning and the Mustang Mach-E. In particular, the F-150 Lightning has been highly sought after since its launch, becoming a key player in the electric truck […]
According to foreign media reports, Hyundai, Kia, Tata and Mahindra are lobbying India’s most populous state, Uttar Pradesh, not to provide incentives for hybrid cars, saying that such a move would help their rivals, Toyota and Maruti Suzuki, and would also strike a blow to India’s goal of popularizing electric vehicles and its investment Plans. The letters from each of these four car companies to the Indian state of Uttar Pradesh underscore the fierce competition between car companies in the Indian market. Currently, the country’s tax policy is gradually favoring electric vehicles. Last month, the state of Uttar Pradesh, which […]