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  • The best Hybrid and Electric Cars in USA for 2022 –according to U.S. News 

    The Japanese Automaker Toyota has won the most award of any brand and dominated section for Hybrid cars.

    The U.S. News and World Report has compiled a list of the best hybrid and electric cars for 2022. Toyota has won the Best Hybrid Car award with the Toyota Prius and the Best Hybrid SUV award with their Toyota RAV4 Hybrid. Toyota has been in the automotive industry for decades. They have always been innovative and it is no surprise that they are the most awarded car brand in this category. 

    Jim Sharifi, managing editor of U.S. News Best Cars said: “There’s been a significant increase in the demand for electric vehicles, and they have more appeal than ever as gas prices rise and consumers look for cars with a low carbon footprint,” and “The winners of the Best Hybrid and Electric Car awards deliver a rewarding ownership experience, as well as low emissions and fuel costs.” 

    Here is the list:

    AWARDWINNER
    Best Luxury Electric Car2022 Lucid Air
    Best Luxury Electric SUV2022 Tesla Model Y
    Best Electric Vehicle2022 Kia EV6
    Best Luxury Plug-In Hybrid2022 Volvo S60 (T8 PHEV)
    Best Plug-In Hybrid2022 Hyundai Tucson Hybrid (PHEV)
    Best Hybrid Car2022 Toyota Prius
    Best Hybrid SUV2022 Toyota RAV4 Hybrid
    Best Luxury Hybrid2022 Lexus ES Hybrid

    U.S. News claims that these awards are based on a combination of the cars’ overall score from the U.S. News Best Car Rankings, starting price, Level 2 charging rate, and fuel economy and range data from the EPA. U.S. News analyzed data.

  • Statevolt to build Battery Plant in California

    Statevolt will produce 54 GWh lithium-battery Gigafactory in California. 

    On April 19, Lars Carlstrom, the founder-CEO of Italvolt, announced the launching of a new US-based company—Statevolt. It is reported to be built in Imperial Valley, Southern California, and will produce 54GWh lithium-ion batteries, with an expected CapEx of $4billion. 

    With the launching of the new plant, Statevolt has signed a Letter of Intent (LOI) with Controlled Thermal Resources (CTR) to supply lithium and geothermal power to the facility. Once the facility becomes fully operational, the factory will become one of the biggest in North America, with a capacity to produce 54GWh, Statevolt estimates that they can produce 650,000 vehicles per year. 

    “Under the terms of the LOI, CTR will deliver sustainable, locally produced lithium and geothermal power, from the company’s to-be-constructed Hell’s Kitchen Lithium and Power development. Statevolt is currently undertaking due diligence to determine the best location on which to build its facility.”

    Carlstrom said in a press release: “Today, we face a significant shortage in the amount of lithium that is required to meet the demand for electric vehicles,” he also added “We are pioneering a new, hyper-local business model, which prioritizes sustainability and resilience in the supply chain to solve this issue. More importantly, we believe this model will offer Statevolt a significant advantage in producing lithium-ion batteries at scale, to meet booming consumer demand and create good-paying, highly skilled jobs. 

    Statevolt’s partnership with CTR will bring a new “hyper-local” sustainable business model for lithium-ion battery development in the US. This new project will likely give the county an economic boost and will create 2,500 jobs. With the rising demand for EVs, there were already reports on the shortage of its materials—including lithium-ion batteries, the facility will likely succeed. 

  • Ford reveals the Lincoln Star concept which will be added to its Lincoln lineup

    The American automaker unveils its Lincoln Star concept and plans to introduce four more new EVs into its Lincoln lineup by 2026.

    Ford, a once-dominant American auto luxury brand reinvents itself to focus on EVs. It unveiled its concept for Lincoln Star last Wednesday. According to its executives, The concept marks new design and technology directions for the brand. They plan to introduce four new EVs into its Lincoln Lineup by 2026.

    Lincoln President Joy Falotico said in a release: “As Lincoln enters the next chapter in our transition to a zero-emissions future, the Lincoln Star Concept will lead the way for our portfolio of fully electric vehicles,” She also added, “It is an excellent example of how we are redefining luxury for the next generation as we work to transform the vehicle into a third space — a true place of sanctuary — for our clients.”

    Lincoln star features a smooth exterior design and panoramic windows. It also includes a large screen across the instrument panel and a retractable steering wheel which can be stowed away. It also features three “rejuvenation moods” that can change the audio, lighting, and even the smell of the vehicle’s cabin.

    “Now is our moment,” Falotico said. “This is just the start of our electric journey.” The New Lincoln EVs could provide the needed boost for Ford. With the supply chain problems that automakers face, their sales dropped to about 87,000 vehicles last year.

  • LG Magna to build e-Powertrain plant in Mexico, to supply GM with EV Parts

    LG Magna’s Mexico plant groundbreaking is to supply General Motors EV Parts. 

    On April 19, LG Magna e-Powertrain broke ground in its new plant in Ramos Aripze, Mexico. There is also a General Motors plant in the same city, which currently builds gasoline-powered Chevrolet Blazer and Equinox SUVs. However, GM still plans to produce EVs in the said plant in 2023, which will be the same year the LG Magna e-Powertrain plant is expected to finish. 

    In a press release, Cheong Won-suk, chief executive officer of LG Magna e-Powertrain, said that “This new facility demonstrates the continuing growth of LG Magna e-Powertrain. The JV’s ongoing success will enable us to better support our customers with best-in-class components for the next generation of electric vehicles and help us to expand our presence in the fast-growing global EV market.” GM is also described as the foundational customer for the new facility which “will play a key role in GM’s journey to build a strong, scalable, sustainable and North America-focused EV supply chain.”

    The president of Magna Powertrain, Tom Rucker, stated that “In the space of just over one year, we’ve added an expansion agreement, identified a strategic location to support our customer, and are now in the process of realizing our plans. The building of a new facility is a true testament to the strength of this collaboration and commitment in delivering innovative solutions to customers to meet their challenges.” 

    It is recalled that the joint venture between LG Electronics and Magna International was created last July 2021, which combined Magna’s strength in electric powertrain systems and automotive manufacturing with LG’s expertise in component development for e-motors and inverters. The joint venture is expected to fuel both companies’ growth in the highly competitive EV industry.

    The Mexico plant is LG Magna e-Powertrain’s first production base in North America, will be 260,000 square-foot, and is expected to create an estimated 400 new jobs.

  • Tesla’s profit jumped for Q1-2022, but faces challenges ahead

    Despite making its biggest quarterly profit, the EV maker still faces supply chain issues.

    On Wednesday, Tesla reported its revenue for the first quarter of 2022. They reported that the company made $3.32 billion worth of net income which is higher than last year’s $438 million and the biggest profit since the company was created. Here is Tesla’s financial summary for the first quarter of the year: 

    Tesla’s revenue in the first quarter has totaled $18.8 billion, which exceeded investors’ expectations. It also managed to increase its operating income to $3.6 billion during the quarter. The company said in its shareholder deck that revenue growth was driven in part by an increase in the number of cars Tesla delivered and an increase in average sales prices. Tesla reported that they had a total of 310,048 vehicle deliveries by the end of the quarter. 

    And while it made such profits, there are still issues that the company faces. It warned that continuous supply chain issues may hamper future production, as well as the rising costs for raw materials. The company also had to temporarily shut down its factory in Shanghai following China’s attempts to contain Coronavirus.

    Tesla said in a statement that “Our own factories have been running below capacity for several quarters as supply chain became the main limiting factor, which is likely to continue through the rest of 2022,” However, Elon Musk said in a conference call with investors and analysts on Wednesday that his “best guess” was that Tesla would produce 1.5 million cars this year, meeting the company’s goal of achieving sales growth of 50 percent a year. He also expressed that the rising prices for lithium were forcing the company to raise its prices and slowing down the pace to make people switch to electric vehicles. 

    Musk also said in a tweet earlier that ‘Tesla might actually have to get into the mining & refining directly at scale unless costs improve.’

  • Tesla stock gets new price targets 

    As Tesla released earning results for the first quarter of the year, analysts are updating their price target. 

    Several wall street analysts have been updating their price target on Tesla even before the latter announced its earning result for the first quarter of 2022. 

    Worm Capital, the Texas-based hedge fund, believes that Tesla is six years ahead of its competition. It stated that ‘Conventional Wall Street analysis consistently undervalues Tesla’s multiple business lines, its massive scale, its expanding margin profile, its leading revolution in complex manufacturing, its approach to real-world AI, its vertical integration, its software stack, and much more. Our multi-year research effort into Tesla’s manufacturing capabilities and supply chain integrations suggest that Tesla is more than 6 years ahead of any competitor. This lead is expanding.’ The firm is certain that Tesla’s shares could offer a 10x return by this decade. 

    ARK Invest, which is one of the bullish Tesla investors on wallstreet, updated its price target on Tesla to $4,600 by 2026, the most aggressive target of all major firms. The firm relies on Tesla’s longtime goals which was delayed like the full self-driving” and the Cybertruck.

    The company was able to overcome the supply chain issues last year and it was able to come upon revenue of $18.8 billion. The earnings per share for the first quarter of 2022 were $3.22.

  • USA to build Electric Vehicles Charging Infrastructures

    The U.S. is building more Charging Infrastructures—as the government has shown its support for having more EVs on the road.

    U.S. President Biden has a target that 50% Electric Vehicle Car sales share by the year 2030, and of course, this would require the state to build more charging infrastructure. 

    Even though EV sales grew by 85% from 2020 to 2021, many consumers are still concerned and are discouraged from buying an EV.  In response to this, the Bipartisan Infrastructure Law will provide $7.5 B for developing a national network of EV Chargers in the US. It aims to build 500,000 EV Chargers across the country. Not only will this build more infrastructure, but this will also create more jobs for its citizens. It also aims to help the environment since according to UCS, cars, and trucks account for nearly one-fifth of all US emissions, emitting around 24 pounds of carbon dioxide and other global-warming gases for every gallon of gas. 

    The administration said in a statement “there was broad consensus that charging stations and vehicles need to be interoperable and provide a seamless user experience, no matter what car you drive or where you charge your EV.”

     If the target is met, there is an estimate of having more than 48 million electric vehicles on the US road by the year 2030.

  • 2022 EV models ranked as per fuel economy estimates in USA

    Vehicles are ranked by their EPA combined rating (considering city condition and on highway performances together). 

    All-Electric vehicle (EV) fuel economy is given in Miles Per Gallon equivalent (MPGe); where 33.7 kWh = 1 gallon of gasoline.

    Here, vehicle considered are all vehicles which are available for purchase in 2022 in USA.

    Plug-in hybrid Vehicles (PHEV) are also ranked by their combined gas/electricity rating.

    Rank #EV Make and ModelGear TypeCombinedCityHighway
    12022 Tesla Model 3 RWDAutomatic (A1) EV132138126
    22022 Lucid Air G Touring AWD w/19in wheelsAutomatic (A1) EV131130132
    22022 Tesla Model 3 Long Range AWDAutomatic (A1) EV131134126
    32022 Tesla Model Y RWDAutomatic (A1) EV129140119
    42022 Lucid Air Dream R AWD w/19in wheelsAutomatic (A1) EV125126125
    52022 Tesla Model Y Long Range AWDAutomatic (A1) EV122127117
    62022 Lucid Air G Touring AWD w/21in wheelsAutomatic (A1) EV121121122
    72022 Chevrolet Bolt EVAutomatic (variable gear ratios) EV120131109
    72022 Hyundai Kona ElectricAutomatic (A1) EV120132108
    72022 Tesla Model SAutomatic (A1) EV120124115
    82022 Kia EV6 RWD (Long Range)Automatic (A1) EV117134101
    82022 Kia EV6 RWD (Standard Range)Automatic (A1) EV117136100
    92022 Lucid Air Dream P AWD w/19in wheelsAutomatic (A1) EV116117114
    92022 Lucid Air Dream R AWD w/21in wheelsAutomatic (A1) EV116115117
    92022 Tesla Model S Plaid (19in Wheels)Automatic (A1) EV116119112
    102022 Chevrolet Bolt EUVAutomatic (variable gear ratios) EV115125104

    Tags: 2022 EV Models, Chevrolet, EV, Fuel Economy, Hyundai Kona, Kia, Lucid Air, Tesla, USA