U.S. to work with allies to secure electric vehicle metals


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US EV Battery Minerals Strategy prioritizes critical minerals with allies, lithium and copper sourcing, battery recycling, and domestic processing, leveraging the Development Finance Corporation to strengthen EV supply chains and reduce reliance on China.

 

Key Points

A US plan to secure critical minerals with allies, boost recycling, and expand domestic processing for EV batteries.

✅ DFC financing for allied lithium and copper projects

✅ Battery recycling to diversify critical mineral supply

✅ Domestic processing with strong environmental standards

 

The United States must work with allies to secure the minerals needed for electric vehicle batteries, addressing pressures on cobalt reserves that could influence supply, and process them domestically in light of environmental and other competing interests, the White House said on Tuesday.

The strategy, first reported by Reuters in late May, will include new funding to expand international investments in electric vehicles (EV) metal projects through the U.S. Development Finance Corporation, as well as new efforts to boost supply from EV battery recycling initiatives.

The U.S. has been working to secure minerals from allied countries, including Canada and Finland, with projects such as Alberta lithium development showing potential. The 250-page report outlining policy recommendations mentioned large lithium supplies in Chile and Australia, the world's two largest producers of the white battery metal.

President Joe Biden's administration will also launch a working group to identify where minerals used in EV batteries and other technologies can be produced and processed domestically.

Securing enough copper, lithium and other raw materials to make EV batteries, amid lithium supply concerns heightened by recent disruptions, is a major obstacle to Biden’s aggressive EV adoption plans, with domestic mines facing extensive regulatory hurdles and environmental opposition.

The White House acknowledged China's role as the world's largest processor of EV metals and said it would expand efforts, including a 100% EV tariff on certain imports, to lessen that dependency.

"The United States cannot and does not need to mine and process all critical battery inputs at home. It can and should work with allies and partners to expand global production and to ensure secure global supplies," it said in the report.

The White House also said the Department of the Interior and others agencies will work to identify gaps in mine permitting laws to ensure any new production "meets strong standards" in terms of both the environment and community input.

The report noted Native American opposition to Lithium Americas Corp's (LAC.TO) Thacker Pass lithium project in Nevada, as well as plans by automaker Tesla Inc (TSLA.O) to produce its own lithium.

The steps come after Biden, who has made fighting climate change and competing with China centerpieces of his agenda, ordered a 100-day review of gaps in supply chains in key areas, including EVs.

Democrats are pushing aggressive climate goals, as Canada EV manufacturing accelerates in parallel, to have a majority of U.S.-manufactured cars be electric by 2030 and every car on the road to be electric by 2040.

As part of the recommendations from four executive branch agencies, Biden is being advised to take steps to restore the country's strategic mineral stockpile and expand funding to map the mineral resources available domestically.

Some of those steps would require the support of Congress, where Biden's fellow Democrats have only slim majorities.

The Energy Department already has $17 billion in authority through its Advanced Technology Vehicles Manufacturing Loan program to fund some investments, and is also launching a lithium-battery workforce initiative to build critical skills.

The program’s administrators will focus on financing battery manufacturers and companies that refine, recycle and process critical minerals, the White House said.

 

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How much does it cost to charge an electric vehicle? Here's what you can expect.

Electric Vehicle Charging Costs and Times explain kWh usage, electricity rates, Level 2 vs DC fast charging, per-mile expense, and tax credits, with examples by region and battery size to estimate home and public charging.

 

Key Points

They measure EV charging price and duration based on kWh rates, charger level, efficiency, and location.

✅ Costs vary by kWh price, region, and charger type.

✅ Efficiency (mi/kWh) sets per-mile cost and range.

✅ Tax credits and utility rates impact total ownership.

 

More and more car manufacturing companies dip their toes in the world of electric vehicles every year, making it a good time to buy an EV for many shoppers, and the U.S. government is also offering incentives to turn the tides on car purchasing. Electric vehicles bought between 2010 and 2022 may be eligible for a tax credit of up to $7,500. 

And according to the Consumer Reports analysis on long-term ownership, the cost of charging an electric vehicle is almost always cheaper than fueling a gas-powered car – sometimes by hundreds of dollars.

But that depends on the type of car and where in the country you live, in a market many expect to be mainstream within a decade across the U.S. Here's everything you need to know.


How much does it cost to charge an electric car?
An electric vehicle’s fuel efficiency can be measured in kilowatt-hours per 100 miles, and common charging-efficiency myths have been fact-checked to correct math errors.

For example, if electricity costs 10.7 cents per kilowatt-hour, charging a 200-mile range 54-kWh battery would cost about $6. Charging a vehicle that consumes 27 kWh to travel 100 miles would cost three cents a mile. 

The national average cost of electricity is 10 cents per kWh and 11.7 cents per kWh for residential use. Idaho National Laboratory’s Advanced Vehicle Testing compares the energy cost per mile for electric-powered and gasoline-fueled vehicles.

For example, at 10 cents per kWh, an electric vehicle with an efficiency of 3 miles per kWh would cost about 3.3 cents per mile. The gasoline equivalent cost for this electricity cost would be just under $2.60 per gallon.

Prices vary by location as well. For example, Consumer Report found that West Coast electric vehicles tend to be less expensive to operate than gas-powered or hybrid cars, and are often better for the planet depending on local energy mix, but gas prices are often lower than electricity in New England.

Public charging networks in California cost about 30 cents per kWh for Level 2 and 40 cents per kWh for DCFC. Here’s an example of the cost breakdown using a Nissan LEAF with a 150-mile range and 40-kWh battery:

Level 2, empty to full charge: $12
DCFC, empty to full charge: $16

Many cars also offer complimentary charging for the first few years of ownership or provide credits to use for free charging. You can check the full estimated cost using the Department of Energy’s Vehicle Cost Calculator as the grid prepares for an American EV boom in the years ahead.


How long does it take to charge an electric car?
This depends on the type of charger you're using. Charging with a Level 1 charger takes much longer to reach full battery than a level 2 charger or a DCFC, or Direct Current Fast Charger. Here's how much time you can expect to spend charging your electric vehicle:

 

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Electric vehicle owners can get paid to sell electricity back to the grid

Ontario EV V2G Pilots enable bi-directional charging, backup power, and grid services with IESO, Toronto Hydro, and Hydro One, linking energy storage, solar, blockchain apps, and demand response incentives for smarter electrification.

 

Key Points

Ontario EV V2G pilots test bidirectional charging and backup power to support grid services with apps and incentives.

✅ Tests Nissan Leaf V2H backup with Hydro One and Peak Power.

✅ Integrates solar, storage, blockchain apps via Sky Energy and partners.

✅ Pilots demand response apps in Toronto and Waterloo utilities.

 

Electric vehicle owners in Ontario may one day be able to use the electricity in their EVs instead of loud diesel or gas generators to provide emergency power during blackouts. They could potentially also sell back energy to the grid when needed. Both are key areas of focus for new pilot projects announced this week by Ontario’s electricity grid operator and partners that include Toronto Hydro and Ontario Hydro.

Three projects announced this week will test the bi-directional power capabilities of current EVs and the grid, all partially funded by the Independent Electricity System Operator (IESO) of Ontario, with their announcement in Toronto also attended by Ontario Energy Minister Todd Smith.

The first project is with Hydro One Networks and Peak Power, which will use up to 10 privately owned Nissan Leafs to test what is needed technically to support owners using their cars for vehicle-to-building charging during power outages. It will also study what type of financial incentives will convince EV owners to provide backup power for other users, and therefore the grid.

A second pilot program with solar specialist Sky Energy and engineering firm Hero Energy will study EVs, energy storage, and solar panels to further examine how consumers with potentially more power to offer the grid could do it securely, in part using blockchain technology. York University and Volta Research are other partners in the program, which has already produced an app that can help drivers choose when and how much power to provide the grid — if any.

The third program is with local utilities in Toronto and Waterloo, Ont., and will test a secure digital app that helps EV drivers see the current demands on the grid through improved grid coordination mechanisms, and potentially price an incentive to EV drivers not to charge their vehicles for a few hours. Drivers could also be actively further paid to provide some of the charge currently in their vehicle back to the grid.

It all adds up to $2.7 million in program funding from IESO ($1.1 million) and the associated partners.

“An EV charged in Ontario produces roughly three per cent of emissions of a gas fuelled car,” said IESO’s Carla Nell, vice-president of corporate relations and innovation at the announcement near Peak Power chargers in downtown Toronto. “We know that Ontario consumers are buying EVs, and expected to increase tenfold — so we have to support electrification.”

If these types of programs sound familiar, it may be because utilities in Ontario have been testing such vehicle-to-grid technologies soon after affordable EVs became available in the fall of 2011. One such program was run by PowerStream, now the called Alectra, and headed by Neetika Sathe, who is now Alectra’s vice-president of its Green Energy and Technology (GRE&T) Centre in Guelph, Ont.

The difference between now and those tests in the mid-2010s is that the upcoming wave of EV sales can be clearly seen on the horizon, and California's grid stability work shows how EVs can play a larger role.

“We can see the tsunami now,” she said, noting that cost parity between EVs and gas vehicles is likely four or five years away — without government incentives, she stressed. “Now it’s not a question of if, it’s a question of when — and that when has received much more clarity on it.”

Sathe sees a benefit in studying all these types of bi-directional power-flowing scenarios, but notes that they are future scenarios for years in the future, especially since bi-directional charging equipment — and the vehicles with this capability — are pricey, and largely still not here. What she believes is much closer is the ability to automatically communicate what the grid needs with EV drivers, as Nova Scotia Power pilots integration, and how they could possibly help. For a price, of course.

“If I can set up a system that says ‘oh, the grid is stressed, can you not charge for the next two hours? And here’s what we’ll offer to you for that,’ that’s closer to low-hanging fruit,” she said, noting that Alectra is currently testing out such systems. “Think of it the same way as offering your car for Uber, or a room on Airbnb.”

 

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NanoFlocell Wants To Sell Flow Battery Cars In The US

nanoFlowcell Bi-ION Flow Battery delivers renewable-energy storage for EVs and grids, using seawater-derived electrolyte, membrane stacks, fast refueling, low-cost materials, scalable tanks, and four-motor performance with long range and lightweight energy density.

 

Key Points

A flow cell using Bi-ION to power EVs and grids with fast refueling and scalable, low-cost storage.

✅ Seawater-derived Bi-ION electrolyte; safe, nonflammable, low cost

✅ Fast refueling via dual tanks; membrane stack generates power

✅ EV range up to 1200 miles; scalable for grid-scale storage

 

nanoFlowcell is a European company headquartered in London that focuses on flow battery technology. Flow batteries are an intriguing concept. Unlike lithium batteries or fuel cells, they store electricity in two liquid chambers separated by a membrane. They hold enormous potential for low cost, environmentally friendly energy storage because the basic materials are cheap and abundant. To add capacity, simply make the tanks larger.

While that makes flow batteries ideal for energy storage — whether in the basement of a building or as part of a grid scale installation that utilities weigh against options like hydrogen for power companies today in practice — their size and weight make them a challenge for use in vehicles. That hasn’t stopped nanoFlowcell from designing a number of concept and prototype vehicles over the past 10 years and introducing them to the public at the Geneva auto show. Its latest concept is a tasty little crumpet known as the Quantino 25.


The Flow Battery & Bi-ION Fluid
The thing that makes the nanoFlowcell ecosystem work is an electrically charged fluid called Bi- ION derived from seawater or reclaimed waste water. It works sort of like hydrogen in a fuel cell, a frequent rival in debates over the future of vehicles today for many buyers. Pump hydrogen in, run it through a fuel cell, and get electricity out. With the Quantino 25, which the company calls a “2+2 sports car,” you pump two liquids to the membrane interface to make electricity.

There are two 33-gallon tanks mounted low in the chassis much the way a lithium-ion battery pack fits into a normal electric car. Fill up with Bi-ION, and you have a car that will dash to 100 km/h in 2.5 seconds, thanks to its 4 electric motors with 80 horsepower each. And get this. According to Autoblog, the company says with full tanks, the Quantino 25 has a range of 1200 miles! Goodbye range anxiety, hello happy motoring.


We should point out that water weighs about 8 pounds per gallon, so the “fuel” to travel 1200 miles would weigh roughly 528 pounds. A conventional lithium-ion battery pack with its attendant cooling apparatus that could travel that far would weigh at least 3 times as much, even as EV battery recycling advances aim for a circular economy today. Granted, the Quantino 25 is not a production car and very few people have ever driven one, but that kind of range vs weight ratio has got to get your whiskers twitching a little in anticipation.

Actually, the folks at Autocar did drive an early prototype in 2016 at the TCS test track near Zurich, Switzerland, and determined that it was a real driveable car. My colleague Jennifer Sensiba reported in April of 2019 that the company’s Quantino test vehicle passed the 350,000 km mark (220,000 miles) with no signs of damage to the membrane or the pumps, and didn’t seem to have suffered any wear at all. The vehicle’s engineers pointed out that it had driven for 10,000 hours at this point. The company says it wants to offer its flow battery technology to EV manufacturers and give the system a 50,000-hour guarantee. That translates to well over 1 million miles of driving.

The problem, of course, is that there is no Bi-ION refueling infrastructure just yet, but that doesn’t mean someday there couldn’t be. Tesla had no Supercharger network when it first started either and things turned out reasonably well for Musk and company.


nanoFlowcell USA Announced
nanoFlowcell announced this week that it has established a new division based in New York to bring its flow battery technology to America. The mission of the new division is to adapt the nanoFlowcell process to US-specific applications and develop nanoFlowcell applications in America. Priority one is beginning series production of flow battery vehicles as well as the constructing a large scale bi-ION production facility that will provide transportable renewable energy and could complement vehicle-to-grid power models for communities for nanoFlowcell applications.

The Bi-ION electrolyte is a high density energy carrier that makes renewable energies storable and transportable in large quantities. The company says it will produce the energy carrier bi-ION from 100 percent renewable energy. Flow cell energy technology is an important solution to substantially reduce global greenhouse gas emissions as laid out in the Paris Agreement, the company says. Its many benefits include being a safe and clean energy source for many energy intensive processes and transportation services.


“Our nanoFlowcell flow cell and bi-ION energy carrier are key technologies for a successful energy transition,” says Nunzio La Vecchia, CEO of nanoFlowcell Holdings. “We need to make energy from renewable energy safe, storable and transportable to drive environmentally sustainable economic growth. This requires a well thought out strategy and the development of the appropriate infrastructure. With the establishment of nanoFlowcell USA, we are reaching an important milestone in this regard for our future corporate development.”


Focus On Renewable Energy
The production costs of Bi-ION are directly linked to the cost of electricity from renewable sources. With the accelerated expansion of renewable energy under the Inflation Reduction Act along with EV grid flexibility efforts across markets, nanoFlowcell expects the cost of electricity from solar power to be relatively low in the future which will further strengthen the competitiveness of energy sources such as Bi-ION.

“With the Inflation Reduction Act, the U.S. has made the largest investment in clean energy in U.S. history, and the potential implications for renewable energy are far-reaching.” But La Vecchia points out, “We will not seek government investments for nanoFlowcell USA to expand our manufacturing facilities and infrastructure in the United States. Where appropriate, we will enter into strategic partnerships to build and expand manufacturing and infrastructure, and to integrate nanoFlowcell technologies into all sectors of the economy.”

“More importantly, with nanoFlowcell USA, we want to help accelerate the decarbonization of the global economy and create economic, social and ecological prosperity. After all, estimates suggest that the clean energy sector will create 500,000 additional jobs. We want to do our part to make this happen.”


‍The Takeaway
nanoFlowcell is about more than electric cars. It wants to get involved in grid-scale energy storage, and moves like Mercedes-Benz energy storage venture signal momentum in the sector today. But to those of us soaking in the hot tub warmed by excess heat from a nearby data center here at CleanTechnica global headquarters, it seems that its contribution to emissions-free transportation could be enormous. Maybe some of those companies still chasing the hydrogen fuel cell dream, as a recent hydrogen fuel cell report notes Europe trailing Asia today, might find the company’s flow battery technology cheaper and more durable without all the headaches that go with making, storing, and transporting hydrogen.

A Bi-ION refueling station would probably cost less than a tenth as much as a hydrogen filling station. A link-up with a major manufacturer would make it easier to build out the infrastructure needed to make this dream a reality. Hey, people laughed at Tesla in 2010. If nothing else, this is a company we will be keeping our eye on.

 

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AZ goes EV: Rate of electric car ownership relatively high in Arizona

Arizona Electric Vehicle Ownership is surging, led by EV adoption, charging stations growth, state incentives, and local manufacturers; yet rural infrastructure gaps and limited fast-charging plugs remain key barriers to convenient, statewide electrification.

 

Key Points

Arizona Electric Vehicle Ownership shows rising EV adoption and incentives, but rural fast-charging access still lags.

✅ 28,770 EVs registered; sixth per 1,000 residents statewide

✅ 385 fast chargers; 1,448 Level 2 plugs; many not 24/7

✅ Incentives: lower registration, HOV access, utility rebates

 

For a mostly red state, Arizona has a lot of blue-state company when it comes to states ranked by electric vehicle ownership, according to recent government data.

Arizona had 28,770 registered electric vehicles as of June, according to the U.S. Department of Energy's Alternative Fuels Data Center, the seventh-highest number among states. When ownership is measured per 1,000 residents, Arizona inches up a notch to sixth place, with just over four electric vehicles per 1,000 people.

That rate put Arizona just behind Oregon and Colorado and just ahead of Nevada and Vermont. California was in the lead by far, with California's EV and charging lead reflected in 425,300 registered electric vehicles, or one for every 10.7 residents.

Arizona EV enthusiasts welcomed the ranking, which they said they have seen reflected in steady increases in group membership, but said the state can do better, even amid soaring U.S. EV sales this year.

"Arizona is growing by leaps and bounds in major areas, but still struggling out there in the hinterlands," said Jerry Asher, vice president of the Tucson Electric Vehicle Association.

He and others said the biggest challenge in Arizona, as in much of the country, is the lack of readily available charging stations for electric vehicles.

Currently, there are 385 public fast-charging plugs and 1,448 non-fast-charging plugs in the state, where charging networks compete to expand access, said Diane Brown, executive director with the Arizona Public Interest Research Group Education Fund. And many of those "are not available 24 hours a day, often making EV charging less convenient to the public," she said.

And in order for the state to hit 10% EV ownership by 2030, one scenario outlined by Arizona PIRG, the number of charging stations would need to grow significantly.

"According to the Arizona PIRG Education Fund, to support a future in which 10% of Arizona's vehicles are EVs – a conservative target for 2030 – Arizona will need more than 1,098 fast-charging plugs and 14,888 Level 2 plugs," Brown said.

This will require local, state and federal policies, as EVs challenge state power grids, to make "EV charging accessible, affordable, and easy," she said.

But advocates said there are several things working in their favor, even as an EV boom tests charging capacity across the country today. Jim Stack, president of the Phoenix Electric Auto Association, said many of the current plug-ins charging stations are at stores and libraries, places "where you would stop anyway."

"We have a good charging infrastructure and it keeps getting better," Stack said.

One way Asher said Arizona could be more EV-friendly would be to add charging stations at hotels, RV parks and shopping centers. In Tucson, he said, the Culinary Dropout and Jersey Mike's restaurants have already begun offering free electric vehicle charging to customers, Asher said.

While they push for more charging infrastructure, advocates said improving technology and lower vehicle expenses are on their side, as post-2021 electricity trends reshape costs, helping to sway more Arizonans to purchase an electric vehicle in recent years.

"The batteries are getting better and lower in cost as well as longer-lasting," Stack said. He said an EV uses about 50 cents of electricity to cover the same number of miles a gas-burning car gets from a gallon of gas – currently selling for $3.12 a gallon in Arizona, according to AAA.

In addition, the state is offering incentives to electric vehicle buyers.

"In AZ we get reduced registration on electric vehicles," Stack said. "It's about $15 a year compared to $300-700 a year for gas and diesel cars."

Electric vehicle owners also "get 24/7 access to HOV lanes, even with one person," he said. And utilities like Tucson Electric Power offer rebates and incentives for home charging stations, according to a report by the National Conference of State Legislatures, and neighboring New Mexico's EV benefits underscore potential economic gains for the region.

Stack also noted that Arizona is now home to three eclectic vehicle manufacturers: Lucid, which makes cars in Casa Grande, Nikola, which makes trucks in Phoenix and Coolidge, and Electra Meccanica, which plans to build the three-wheeled SOLO commuter in Mesa.

"We get clear skies. No oil changes, no muffler work, no transmission, faster acceleration. No smog or smog tests," Stack said. "It's priceless."

 

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UK Electric cars will cost more if Sunak fails to strike Brexit deal

UK-EU EV Tariffs 2024 threaten a 10% levy under Brexit rules of origin, raising electric vehicle prices, straining battery supply chains, and risking a price war for manufacturers, consumers, and climate targets across automotive market.

 

Key Points

Tariffs from Brexit rules of origin imposing 10% duties on EVs, raising UK prices amid battery and supply chain gaps.

✅ 10% tariffs if rules of origin thresholds are unmet

✅ Price hikes on UK EVs, led by Tesla Model Y

✅ Battery supply gaps strain UK and EU manufacturers

 

Electric cars will cost British motorists an extra £6,000 if Rishi Sunak fails to strike a post-Brexit deal with the EU on tariffs, industry bosses have told The Independent.

UK manufacturers warned of a “devastating price war” on consumers, echoing UK concern over higher EV prices across the market – threatening both the electric vehicle (EV) market and the UK’s climate change commitments – if tariffs are enforced in January 2024.

In the latest major Brexit row, the Sunak government is pushing the European Commission to agree to delay the costly new rules, even as the UK readies for rising EV adoption across the economy, set to come in at the start of next year as part of Boris Johnson’s Brexit trade deal.

But Brussels has shown no sign it is willing to budge – even as Washington has announced a 100% tariff on Chinese-made EVs this year – leaving business leaders in despair about the impact of 10 per cent tariffs on exports on Britain’s car industry.

The tariffs would increase the price of a new Tesla Model Y – the UK’s most popular electric vehicle – by £6,000 or more, according to a new report by the Independent Commission on UK-EU Relations.

“For the sake of our economy and our planet, the government has a responsibility to get round the table with the EU, fix this and fix the raft of other issues with the Brexit deal,” said commission director Mike Buckley.

The new rules of origin agreed in the Brexit trade and cooperation agreement (TCA) require 45 per cent of an electric car’s value, as the age of electric cars accelerates, to originate in the UK or EU to qualify for trade without tariffs.

The British auto industry has warned the 2024 rules pose an “existential threat” to sales because of the lack of domestic batteries to meet the rules, even as EV adoption within the decade is widely expected to surge – pleading for a delay until 2027.

The VDA – the lobby group for Germany’s car industry – has also called for an “urgent” move to delay, warning that the rules create a “significant competitive disadvantage” for European carmarkers in relation to China, where tariffs on Chinese EVs are reshaping global trade, and other Asian competitors.

The new report by the Independent Commission on UK-EU Relations – backed by the manufacturers’ body Make UK and the British Chamber of Commerce – warns that the January tariffs will immediately push up costs and hit electric vehicle sales, despite UK EV inquiries surging during the fuel supply crisis in recent years.

 

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Will EV Supply Miss the Demand Mark in the Short and Medium Term?

EV Carpocalypse signals potential mismatch between electric vehicle production and demand, as charging infrastructure, utility coordination, and plug-in hybrid strategies lag forecasts, while state mandates and market-share plays drive cautious, data-informed scaling.

 

Key Points

EV Carpocalypse describes overbuilt EV supply versus demand amid charging rollout, mandates, and risk-managed scaling.

✅ Forecasts vs actual EV demand may diverge in near term

✅ Charging infrastructure and utilities lag vehicle output

✅ Mandates and PHEVs cushion adoption while data guides scaling

 

According to Forbes contributor David Kiley, and Wards Automotive columnist John McElroy, there may be an impending “carpocalypse” of electric vehicles on the way. Sounds very damning and it’s certainly not the upbeat tone I’ve taken on nearly every piece of EV demand content I’ve authored but the author, Kiley does bring up some interesting points worth considering. EV Adoption is happening, and it’s certainly doing so at ever faster rates as the market nears an EV inflection point today. The infrastructure (charging stations, utility cooperation) is being built out more slowly than vehicle manufacturers are producing cars but, as the GM president on EV hurdles has noted, the issue seems to be just that, maybe even the short and medium term plans for EV manufacturing are too aggressive.

#google#

With new EV and plug-in hybrid vehicle sales representing a mere .6% of new car cales in the US, a sign that EV sales remain behind gas cars even as new models proliferate, car makers are are going to be spending more than $100 billion to come out with more than a hundred models of battery electric vheicles which also includes PHEVs and the fear is these vehicles aren’t going to sell in the numbers that automakers and industry analysts may have expected. But forecasts are just that, forecasts, even as U.S. EV sales surge into 2024 suggest momentum. So there’s a valid argument to be made that they’ll either overshoot the true mark or come in way below the actual amount. With nine U.S. states mandating that 15% of new cars sold be EVs by 2025, you could say that at least automakers have supporters in state government helping to push the new technology into the hands of more drivers.

Still, it’s anyone’s guess as to what true adoption will be, and a brief Q1 2024 market share dip underscores lingering volatility. The use of big data and just in time manufacturing will ensure that manufacturers will miss the mark on EVs by less than they have in the past, and will able to cope with breaking even on these vehicles for the sake of gobbling up precious early stage market share. After all, many vendors have up to this point been very willing to break even or make a loss on their lease-only EVs or on EV or hybrid financing in order to gain that share and build out their brand awareness and technical prowess. With some stops and starts, demand will meet supply or supply may need to meet demand but either way, the EV adoption wave is coming to a driveway near you. 

 

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