Spotlight: EV News Highlights
EV News Highlights: Cox Automative study sees a "second, significant wave of [EV] shoppers" coming as EV Skeptics become EV Considerers. Honda announces $65B 10-year electrification strategy. CBRE/EV+ team to bring EV charging stations to 10,000 US properties. Ford's US EV sales surge by over 200%. Kia reveals EV3.
Brands in the news: Honda, CBRE, EV+ Charging, Electrify Expo, Ford Motor Company, Volvo Cars, Kia Worldwide, BYD, Lexus, Hyundai Motor Company (현대자동차), Subaru of America, General Motors, United States Postal Service, Canoo, Genesis, Cox Automotive Inc. and many more.
It’s a Great Time to Shop for an Electric Vehicle: Report
“Between incentives, price cuts and high inventory levels, it’s definitely a buyer’s market for electric vehicles.”
Cox Automotive 2024 Path to EV Adoption Study Suggests Electric Vehicle Consideration Will Surge in Second Half of Decade
“A second, significant wave of shoppers ready to consider buying an electric vehicle (EV) is poised to begin entering the market in the second half of the decade, according to the latest findings from the 2024 Path to EV Adoption Study by Cox Automotive…. But the Skeptics are coming, the study suggests. As technology improves, the U.S. charging network expands and prices moderate further, 54% of current Skeptics will become EV Considerers within three to five years. Within the next ten years, 80% of today’s Skeptics will be ready to consider an EV as more barriers fall.”
Honda to Invest $65 Billion Over 10 Years to Bolster EV Push
“Honda Motor Co. will invest 10 trillion yen ($65 billion) on its electrification strategy this decade as it expects demand for battery-powered vehicles will rebound from short-term headwinds that are stifling purchases. The spending, which will run through fiscal 2031, will cover areas including software, research and development, and establishing supply chains in key markets like the U.S., Canada and Japan, the company said May 16 in its business plan update.”
CBRE Forms Partnership To Bring Electric Vehicle Charging Stations to 10,000 US Properties
“The world's largest commercial real estate brokerage is teaming up with an electric vehicle charging station company to help drivers plug in at 10,000 commercial properties across the United States. CBRE's partnership with EV+ entails installing electric vehicle charging stations that are ready to use at hotels, offices, apartments and healthcare properties over the next five years.”
Silence reigns as electric vehicle makers show off RVs, motorbikes and golf carts
“Electrify Expo took over State Farm Stadium last weekend, showcasing battery-operated vehicles in nearly every category all in one visit.”
Ford’s EV Sales in U.S. Surge by Over 200%
“As the global transport sector continues to electrify mobility, Ford Motor Company reported a surge in EV sales amidst a slight overall drop in vehicle sales… In April, Ford achieved a notable increase in EV sales, with 8,019 units sold, representing a remarkable 129% growth from the previous year. This surge in EV sales is promising for the company’s performance in the second quarter.”
Volvo Global EV Sales Almost Doubled In April 2024 Thanks To EX30's Surge
Electric Vehicles Accelerate Toward 50% of Global Sales
Kia EV3 First Look: A Small EV With Big Potential
“But what few specs Kia did share are impressive, and historically, the automaker has stayed true with its concept-to-production claims. Should the EV3 deliver on these promises, U.S. buyers will have a very attractive option.”
BYD targets overtaking Tesla as top electric vehicle seller in Europe by 2030
Lexus unveils new electric model with longer range and lower price tag -- and it could corner luxury EV market
“Lexus, which is under the Toyota umbrella, is looking to corner the luxury EV market.”
Hyundai Launches New Supercharged Marketing Campaign Featuring Electric Vehicle Lineup
“To encourage EV-curious consumers to make the switch to an electric vehicle and creatively showcase the benefits of going all electric, Hyundai has launched a new marketing campaign. The campaign will highlight Hyundai's entire electric vehicle lineup including the IONIQ 5, IONIQ 5 N, IONIQ 6 and Kona Electric”
Subaru to team with Toyota on 3 new EV crossovers through 2026
Subaru will team with Toyota on three new all-electric crossovers it has planned through 2026 as the small-sized Japanese player tries to minimize its risk in an electric-vehicle market that is cooling off but still requires massive investment in new technology.
GM all-electric Chevy Equinox goes on sale as the latest test for EV production and demand
“The Chevrolet Equinox has been a crucial part of General Motors’ lineup for two decades…GM is hoping the 2024 Chevrolet Equinox EV can do the same for its growing all-electric vehicle portfolio as it begins shipping the crossover to dealers amid slower-than-expected demand for EVs.”
USPS Gets Six of EV Startup Canoo's Pod-Like Delivery Vans
“As part of its 2024 first-quarter earnings report, Canoo announced that its LDV190 vans have been delivered to the Postal Service, specifically to the South Atlanta Sorting and Delivery Center, from where they are now being use in delivering mail.”
Genesis Announces Dealership, EV Expansion
“Genesis is expanding — big time. Hyundai’s luxury brand announced Tuesday it’s opening 26 new stand-alone dealer facilities across the U.S., bringing the total to 35 facilities. The brand also announced expanded availability of its electric vehicles; Genesis EVs are now available for purchase or lease in 37 states, as it adds new retailers in Alabama, Kansas, Oregon and Rhode Island.”