Electric Mobility News

EV startups that promised to disrupt the auto industry by using a technology-heavy approach to their vehicle designs are now scrambling to secure fresh lines of cash and cut costs due to rising commodity prices.

British electric vehicle start-up Arrival SA reported a wider quarterly loss on Thursday and said it would delay spending on its bus project as it looks to secure more capital, sending its U.S-listed shares down 13%.

The European Union and South Korea have raised concerns about proposed U.S. tax credits for purchases of electric vehicles, saying they may discriminate against foreign-made vehicles and breach World Trade Organization (WTO) rules.

China's CATL said it would build a 7.3 billion euro ($7.6 billion) battery plant in Hungary, Europe's largest so far, as the world's biggest electric vehicle battery maker gears up to meet growing demand from global automakers.

U.S. automakers and dealers are scrambling to figure out if they can still offer $7,500 tax credits to would-be buyers of electric vehicles (EVs).

Fisker Inc said it was exploring options to manufacture in the United States in 2024 and was considering ramping up production of its first vehicle, the Ocean SUV, in the second half of 2023.

Large corporations are jumping on the "green" bandwagon left and right, which in turn is pushing firms that lease and manage car fleets to convert to electric vehicles (EVs) faster than they had ever thought possible.

Miners will struggle to expand operations in the United States in record time to meet a deadline for sourcing key minerals domestically or from select countries as set out by a bill likely to be passed.