Electric Vehicles

Electric Vehicles (53)

Sales of battery-powered electric vehicles in the United States are on track to set an all-time record in 2021, with sales up more than 88% through the end of September. The EV market is on course to grow to 400,000 vehicles this year, and Cox Automotive is forecasting EV sales to double in the next 24 months.

Still, EVs will account for only 3% of the new-vehicle market this year and, according to new research released by Cox Automotive, many barriers to EV adoption remain. The 2021 Cox Path to EV Adoption Study provides a look at the major consumer barriers that continue to slow EV adoption. It also uncovers market perceptions and customer experiences with the EV shopping and buying process. The research was conducted in June and July of 2021 and included a survey of nearly 5,000 in-market consumers who owned, considered or rejected a pure battery-electric vehicle. Additional Cox Automotive studies were considered in the analysis.

Among consumers in the market for a new vehicle, general consideration for a pure electric model is relatively high, at 38% of all shoppers. New research from Cox Automotive, however, indicates that consideration drops off notably to 21% of in-market shoppers saying they are more than 50% confident their next vehicle will be an EV. Further still, only 3% of shoppers in the study indicate that their next will, for certain, be an EV.

Vehicle range and price remain the top barriers, according to this research. The study also shows that automakers and dealers would benefit from focusing on those issues as they market their new EVs.  

In good news for EV sellers, the study shows that some select barriers to EV adoption are shrinking. For example, two years ago, 47% of in-market consumers noted that low vehicle range was a concern. In 2021, that number dropped to 37%. Notably, younger shoppers – Gen Z and Millennials – are far less concerned about vehicle range, with only 20% and 29%, respectively, indicating that range was holding them back from buying an EV. Also noteworthy: In the most recent study, 57% of consumers point to a lack of charging stations in their area as a top barrier, but that percentage is down from 64% in 2019. 

The study shows that 71% of dealers indicated they were “only somewhat” or “not at all” prepared to sell more EVs in the future.

Green Car Journal named Ford’s all-new Maverick its 2022 Green Truck of the Year during a Green Car Awards press conference at the San Antonio Auto & Truck Show. The magazine also honored the Toyota Sienna minivan as the 2022 Family Green Car of the Year for the second year in a row.

“Ford’s Maverick is a milestone vehicle offering pickup enthusiasts an affordable choice that’s highly fuel efficient, functional, and right-sized for everyday use,” said Ron Cogan, editor and publisher of Green Car Journal. “The Toyota Sienna hits a sweet spot for families by blending sophisticated design, hybrid efficiency, and an array of thoughtful family-friendly features in an appealing minivan form.”

The all-new Maverick pickup is able to seat five, handle a 1,500-pound payload, and tow up to 4,000 pounds. It comes with a standard hybrid powerplant delivering up to 42 mpg in the city and an approachable price starting under $20,000.

Toyota reimagined the minivan with its Sienna, distinguished for the second time as Green Car Journal’s Family Green Car of the Year. Sienna sets the standard for those seeking a highly efficient, roomy, and tech-rich family vehicle offering premium style and three-row seating for up to eight.

Finalists for this year’s prestigious Green Car Awards featured powertrains ranging from plug-in hybrid and battery electric to hybrid and efficient internal combustion, highlighting the diversity of today’s automotive landscape. Along with the Ford Maverick, vying for Green Truck of the Year were the Ford F-150, GMC HUMMER EV, Rivian R1T, and Toyota Tundra. In addition to the Toyota Sienna, candidates for Family Green Car of the Year included Chrysler Pacifica Hybrid, Honda Civic, Kia Sorento, and Volkswagen ID.4. Their selection as the top 5 “green” cars in their award category earns each model Green Car Journal’s 2022 Green Car Product of Excellence honor.

Lucid Air, a highline EV with technology wholly designed, developed, and manufactured in-house, has won MotorTrend’s Car of the Year award.

“Earning this coveted distinction for Lucid Air, our very first car, is a resounding endorsement of our ability to deliver the most advanced electric vehicles in the world,” said Peter Rawlinson, CEO/CTO, Lucid Group. “Our objective of achieving range through efficiency and technical innovation is crystallized in Lucid Air, and we’re elated that this effort has been recognized by MotorTrend against such formidable competition from well-established automakers.”

MotorTrend Car of the Year judges evaluated six key criteria for Car of the Year: efficiency, value, advancement in design, engineering excellence, safety, and performance of the intended function. The Lucid Air was evaluated side by side with 24 highly regarded vehicles, coming out on top against finalists that included the Mercedes-Benz S-Class, Mercedes-Benz EQS, Porsche Taycan, Honda Civic, and many more.

“With the longest driving range of any electric vehicle on the market, an EPA estimated 520 miles, and over 1,100 horsepower available, the Lucid Air is a technological tour de force,” said Ed Loh, MotorTrend Group. “The sleek futuristic Lucid Air sedan looks like nothing else on the road, while its gorgeous, smartly packaged interior sets the standard for the next generation of luxury cars. Against our award’s criteria, there could be no doubt—the Lucid Air is MotorTrend’s 2022 Car of the Year.”

Rivian Automotive Inc (RIVN.O) had its much anticipated IPO debut last Wednesday with an opening price of $78 on the Nasdaq. The EV Automaker quickly surged almost 30% climbing to a high of $119 a share before settling in slightly below at $106 a share. The Rivian IPO has the company valued between $86 and $93 billion, billions more than was speculated by Bloomberg analysts a few months ago. This makes the automaker that just started rolling its R1T electric pick-up off the line a month ago, the second most valuable auto manufacturer on paper, slightly below Tesla Inc  (TSLA.O), which hovers around $1.01 Trillion .  

Despite just having started selling vehicles and having little revenue to report, Rivian is now ranked ahead of General Motors Co (GM.N) at $85 billion; Ford Motor Co (F.N) at about $77 billion; Lucid Group (LCID.O) at $65 billion, and Stellantis (STLA) at $64 billion. Amazon, one of Rivian’s earliest and biggest investors, has a 20% stake in the company,  now worth about $17 billion, and Ford, another big investor’s 12% stake is valued at over $10 billion. Though Rivian has had little revenue to report, the company did reveal it has nearly 150,000 initial orders for its debut EV, the R1T. 

The first customer R1T driving off Rivian's production line in Normal IL.

Not everyone is buying all the hype. Forbes had cautioned against buying Rivian stock even at the opening price days before the IPO. Forbes analysts cited the company hasn't manufactured enough vehicles yet and is in competition with well-funded EV upstarts as well as old-school manufacturers like GM and BMW, both of which have  multi-billion dollar plans to expand EV production. Forbes doesn't think Rivian can deliver for investors with an overheated IPO stating " It makes no sense for Rivian to IPO with a valuation anywhere near Honda or GM. That valuation implies that Rivian will sell 2 million vehicles in 2030, or nearly 2.5 times the number of Tesla (TSLA) vehicles produced over the past 12 months and 66% more vehicles than Honda (HMC) sold in the U.S. in 2020." 

The R1T beat Tesla, GM and Ford to the market with the first fully electric pickup. Motor Trend reported that the Pick-up is one of the fastest pick-up’s they have ever tested. The all-terrain R1T went from 0-60 mph in 3.2 seconds and covered a quarter mile in 11.7 seconds at 111.2 mph.  The street-tired R1T was even faster with 0-60 mph in 3.1 seconds.

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In a video posted by Rivian CEO RJ Scaringe on Twitter, the R1T shows off one of its impressive skills and one of the reasons for all the buzz. 

The R1T is completely protected against water and still operates normally while submerged, and no leaks were found inside the vehicle despite water getting as high as the front light bar. Officially, the R1T has a wading depth of 3+ feet according to Rivian’s website. 

 

 

Tesla is recalling certain 2017-2021 Model S, Model 3, Model X, and 2020-2021 Model Y vehicles with operating software version 2021.36.5.2. A communication error may cause false forward-collision warning (FCW) or unexpected activation of the automatic emergency brake (AEB) system.

The potential number of units affected is 11,704.

Tesla Service has released an over the air (OTA) software update, free of charge. Owner notification letters are expected to be mailed Dec. 28.

The NHTSA campaign number is 21V846000.

General Motors’ first completely retooled factory for electric vehicle production is on track to open next month in Detroit-Hamtramck. The company, which committed $2.2 billion to the project, has been revamping the GM Detroit-Hamtramck Assembly Center for the past year. The new plant, Factory-ZERO, will be a flagship assembly plant in GM’s rollout of 30 new EVs.

The Detroit-Hamtramck plant was one of four plants GM had scheduled to be permanently shuttered until the UAW struck a deal with GM to retool the plant amid a 40-day strike in 2019. GM plans on employing 2,200 people at Factory-ZERO, twice as many as were employed when the plant was closed for the rebuild to electric. The company is planning on recalling assembly workers back to the Factory-Zero plant soon and will start hiring additional workers next year.

"UAW members are excited about building these automobiles of the future," said Terry Dittes, UAW Vice President and Director of the GM Department, according to the Detroit Free Press.

The GMC Hummer EV pickup and SUV, Cruise Origin and Silverado E will be built at Factory-ZERO. The retooled Hummer may turn out to be as popular as its gas-powered cousin. GM has around 10,000 pre-orders for the Hummer EV pickup. Starting sticker price is a whooping $112,595 for Edition 1 with a trimmed down version coming next year below $80,000. The 2022 GMC Hummer EV Pickup is scheduled to start rolling off the line this fall.

General Motors said the grand opening of the new Factory Zero facility is further indication that the company is “on target” in its bid to launch 30 new electric vehicle models by the 2025 calendar year, a goal which it had previously established in 2020. “I see a strong EV landscape in 2022, but in 2023 it really turns on," GM CEO Mary Barra told a group of Wall Street analysts earlier this week.

 

 

Tesla is recalling certain 2020-21 Model Y and 2019-2021 Model 3 vehicles. The front suspension lateral link fasteners may loosen, allowing the lateral link to separate from the sub-frame.

The NHTSA campaign number for the recall is 21V835000. The potential number of units affected: 2,791.

Tesla Service will tighten or replace the lateral link fasteners as necessary, free of charge. Owner notification letters are expected to be mailed Dec. 24. Tesla’s number for this recall is SB-21-31-003.

Volvo Group North America has been selected to participate in the U.S. Department of Energy’s SuperTruck 3 Program and will receive more than $18 million in federal funding to develop heavy-duty zero-emission electrified trucks. Volvo will also invest matching dollars towards the program. The announcement marks the third SuperTruck Program that Volvo has participated in since the program’s inception in 2009. 

“The entire team at Volvo Group North America is honored to be selected, especially with the program’s focus on zero-emissions, battery-electric vehicles in the medium- and heavy-duty truck segments,” said Martin Weissburg, chairman of Volvo Group North America.

DOE’s Office of Energy Efficiency and Renewable Energy initially launched the SuperTruck initiative in 2009, aimed at improving heavy-duty truck freight efficiency by 50%, while the follow-up SuperTruck 2 in 2016 sought to double vehicle efficiency for Class 8 trucks.

Service costs for electric cars and light trucks fall to 30% lower than their gasoline-powered counterparts after three years on the road, according to the DeepviewTrue Cost Second Owner Study, published this month by predictive analytics and data company We Predict.

Deepview True Cost SOS measures actual money spent by owners and manufacturers of 2018-model-year vehicles during their first three years on the road. The study reveals which brands and models across 24 segments – including electric vehicles (EVs) – have the lowest average service costs. Deepview True Cost service costs are based on the total money spent by manufacturers and vehicle owners on repairs, maintenance, service campaigns, diagnostics, software updates, recalls, and warranty on factory-installed options.

“The data bears out what many hoped would be true,” said James Davies, founder and CEO of We Predict. “While EV service costs are higher than their gas counterparts early in ownership, the cumulative service costs for EVs fall over time to 30% less than gas vehicles at three years on the road – primarily due to lower maintenance costs.”

  • At three months in service, EVs average service costs of $123; gas vehicles average $53. (EVs are 132% more)
  • At 1 year in service, EVs average $306 in service costs per vehicle; gas vehicles average $189. (EVs are 62% more)
  • At 36 months on the road, EV service costs average $514; gasoline vehicles average $749. (EVs are 31% less)

EVs have fewer mechanical parts than gasoline vehicles, contributing to 22% lower repair costs. The primary difference in cost, however, is maintenance. The average spent on maintenance per EV in the first three years is $77, significantly lower than the $228 average for gas vehicles.

Hyundai Corporation’s Kia and Hyundai brands rank first and second among non-premium brands for the lowest average actual service and warranty costs per vehicle in the first 36 months on the road at $369 and $381, respectively. Dodge ranks third at $420.

Among premium brands, Acura models have the lowest service and warranty costs with an average of $600. Lincoln models are second at $879, followed by Genesis at $1,181.

Lucid Motors, a Silicon Valley EV start-up, is delivering its first round of Dream Edition EVs to customers on October 30th. The launch version of the luxury sedan is being delivered to customers amid a social media event called the “Dream Delivery.”   

The event entails delivery to the first 520 reservation holding customers, more than likely at the company's San Francisco Bay Area headquarters, in Newark, Calif. The rally will bring together the first group of customers and company executives.

 Lucid tweeted this photo of several Air sedans loaded onto a transporter.

 

Two models of the Dream Edition are being delivered, the Range and the Performance spec, starting at $169,000. Both cars are dual-motor, all-wheel-drive models that have an 118.0-kWh battery pack. The cars clock in at a hefty 168 mph. Range performance is around 451 to 521 miles depending on model and wheel choice buyers made.

The $139,000 Grand Touring version of the Lucid Air will begin delivery following the Dream Edition launch, and the $77,400 Pure and $95,000 Touring trims will reach their buyers in 2022.  

Lucid Motor’s EVs are built at its factory in the Phoenix suburb of Casa Grande. 

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