In a swift and resounding move towards an electric era, automotive giants are bidding farewell to traditional gas-powered engines, sparking a flurry of sales for nostalgic icons like Bugatti’s Mistral, a $5 million roadster featuring the marque’s acclaimed 16-cylinder powerplant. The extraordinary demand for this limited release ensued shortly after Rimac’s acquisition of Bugatti, hinting…
Electric vehicles (EVs) have faced challenges in meeting the expectations set by gas-powered cars, revealing several key areas where they fall behind, as highlighted recently by Consumer Reports. The report, issued last month, unveiled staggering statistics, indicating that EVs encounter nearly 80% more problems than internal combustion engine-powered cars. Plug-in hybrid electric vehicles, in particular,…
Consumer Reports’ annual car reliability survey has unearthed a striking revelation: electric vehicles (EVs) encounter nearly 80% more reported issues than their gas-powered counterparts. This comprehensive survey, drawing insights from owner responses on over 330,000 vehicles, sheds light on a notable disparity in reported problems between EVs and conventional gas-powered cars. The survey delves into…
The landscape of vehicle fueling is on the cusp of a monumental shift, marked by a surprising development—the foray of oil giants into the electric vehicle (EV) charging sector. Embracing change, these corporations plan to coalesce traditional gasoline offerings with electric charging stations, demonstrating a strategic move to sustain their relevance amidst the EV transition….
Starting January 1, 2024, electric vehicles (EVs) utilizing battery materials manufactured in China will no longer qualify for the $7,500 federal clean car tax credit. This major policy shift, detailed in recent Internal Revenue Service (IRS) guidelines, impacts a wide range of EVs, including popular models like the Ford Mustang Mach-E. For potential EV buyers,…
The promise of a robust electric vehicle (EV) infrastructure was hailed as a transformative step for the nation’s progress, with President Biden’s administration allocating $7.5 billion for EV charger deployment under the Infrastructure Investment and Jobs Act. However, more than two years later, not a single charger stands as a testament to this substantial investment,…
General Motors (GM) has set its sights on profitability in the electric vehicle (EV) market by 2025, aiming for mid single-digit pretax profit margins. While acknowledging the current loss on each EV sold, the company’s Chief Financial Officer, Paul Jacobson, expressed optimism during a Barclays conference in New York. The envisioned profit margins reflect a…
The appeal of electric vehicles (EVs) is undeniable, but one major hurdle remains—the price. As it stands, the average cost of an EV is around $66,000, notably higher than the $48,000 average for new gasoline-powered cars in the U.S. While there has been a decrease from the previous year, manufacturers are striving to make EVs…