Toyota to drastically cut price of bZ4X Toyota Motor Corporation (Toyota) plans to reduce the price of its bZ4X electric vehicle (EV) by more than JPY 500,000 in Japan in the second half of 2025. The price after subtracting a subsidy will be around JPY 4 million. Toyota will also add a new version that travels more than approximately 700 km. The company aims to increase the monthly sales of the bZ4X, currently selling less than 100 units, to 1,50...

News  Updated at: 2025/06/10

t SUV to be based on a battery electric platform, in Shanghai. The Elexio, a Hyundai battery electric model for the Chinese market, integrates modern aesthetics, cutting-edge technologies, and high quality. As a variation of the word “electric”, the name manifests distinct characteristics of an EV. Exterior design: Adopting a minimalistic exterior design concept, the Elexio not only has a pure and tough temperament, but also presents a distin...

News  Updated at: 2025/05/12

the launch of new models, increasing consumer adoption, and the expansion of charging infrastructure. In 2025, electrified vehicles are still expected to account for 4% of total vehicle sales. This would translate to around 20,000 units, as local vehicle sales are expected to reach a record-high of 500,000 units. CAMPI, however, did not anticipate the local production of EVs soon, while pointing out that the high volume of sales must come first. ...

News  Updated at: 2025/02/27

Zypp Electric, India to deploy 100,000 electric two-wheelers in partnership with Indofast Energy On February 19, Zypp Electric, in partnership with Indofast Energy (a 50-50 joint venture between Indian Oil and SUN Mobility), announced plans to deploy 100,000 electric two-wheelers (E2Ws) over the next 12-18 months. This initiative builds on the existing deployment of 10,000+ EVs by Zypp Electric, supported by Indofast Energy’s battery-swapping i...

News  Updated at: 2025/02/24

U.S. Republicans call to end tax credit, add USD 1,000 new tax on new EVs On February 12, Sen. John Barrasso, R-Wyo., with a group of 14 Republican senators signed on as co-sponsors, introduced legislation that could effectively end the EV tax credit. If adopted by Congress it might take effect as soon as 30 days after enactment.  The EV tax credit is not just one tax credit, but three different EV affordability credits. In addition to IRS 30D, ...

News  Updated at: 2025/02/21

Tesla increases Model X by USD 5,000, losing U.S. EV tax credit qualification On February 6, Tesla increased the price of both of its Model X trims by USD 5,000, marking the first time the flagship SUV has seen a bump in price since July 2024, when it was increased by just USD 2,000. The increase now puts the trims over the USD 80,000 limit for the Federal EV Tax Credit of USD 7,500, effectively raising the price to consumers by USD 12, 500. The ...

News  Updated at: 2025/02/11

Bajaj Auto, India to expand Brazil production, launch new e-Rickshaw and updates about BATL On February 7, during an investor update, Bajaj Auto Limited announced that its exports exceeded 500,000 units in Q3 FY 2025 ending December and to cater to the demand, it now plans to expand production capacity in Brazil to over 50,000 units per year by Q4 FY 2026. In the electric vehicle (EV) space, Bajaj Auto introduced the new Bajaj Gogo brand, consoli...

News  Updated at: 2025/02/07

FTI lists promising factors for Thailand’s vehicle production for domestic sales in 2025 On January 28, 2025, the Federation of Thai Industries (FTI) mentioned positive factors for Thailand’s vehicle production for domestic sales, which is expected to reach 500,000 units in 2025. In 2025, there will be new EV production from manufacturers who applied for the EV 3.0 incentive package, which requires the local production in 2025 of 1.5 EV units...

News  Updated at: 2025/01/29

Škoda Auto announces global production for 2024, expands operations across key markets On January 23, Škoda Auto announced that it has produced over 925,000 vehicles globally in 2024, a 4.2% increase from 2023. The company also produced 280,000 battery systems for electric and plug-in hybrid vehicles across the VW Group, over 1 million transmissions and nearly 500,000 engines. Mladá Boleslav plant produced 575,000 vehicles (+3.4%), nearly 80,...

News  Updated at: 2025/01/23

California approves USD 1.4 billion EV charger funding plan On December 11, the California Energy Commission (CEC) approved a USD 1.4 billion investment plan to deploy infrastructure for light, medium, and heavy-duty zero-emission vehicles (ZEV) across California that would result in nearly 17,000 new chargers for passenger vehicles statewide, adding to the more than 152,000 public and private chargers available today.  The funding is part of th...

News  Updated at: 2024/12/17

GlobalData Blog: The impact of EV incentives on European automotive sales: a comparative analysis The global battery electric vehicle (BEV) market has faced numerous challenges, and Europe is no exception. Both potential buyers and original equipment manufacturers (OEMs) have encountered obstacles that have hindered the widespread adoption of BEVs. On the consumer side, high prices, rising interest rates, and uncertainties surrounding battery tec...

News  Updated at: 2024/11/26

Endurance, India to supply machined castings to Aisin for BMW EV transmission In an investor update, Endurance Technologies announced that during the first half of FY25 (April- September 2024), it has won a business worth EUR 10.5 million for machined castings for the BMW EV transmission. It closed an agreement with AISIN which took the e-Axle business for BMW. Endurance is their partner for the raw part and machining of this transmission compone...

News  Updated at: 2024/11/22

GM’s Cruise to pay USD 500,000 fine over false crash report, enter safety compliance program On November 14, GM’s Cruise LLC admitted to withholding key details about a 2023 crash “with the intent to impede, obstruct, or influence” a federal investigation, according to the U.S. Attorney’s Office for the Northern District of California, and agreed to pay USD 500,000 and engage in a three-year plan to aid in the government investigation i...

News  Updated at: 2024/11/19

es totaled 250,000 units, down 5% y/y. Production Passenger car production totaled 2.645 million units in October, up 7.6% y/y. Specifically, production of luxury brands fell 14% y/y; production of joint venture brands fell 23% y/y; and production of local brands grew 25% y/y. New Energy Vehicles (NEVs) In October, wholesale volumes of New Energy passenger cars totaled 1.369 million units, up 55.2% y/y. Specifically, battery electric vehicle (BEV...

News  Updated at: 2024/11/11

U.S. reaches milestone of 200,000 publicly available EV charging ports On October 22, the U.S. Joint Office of Energy and Transportation announced that the U.S. had reached the milestone of 200,000 publicly available charging ports across the country. The Biden administration had set a target of 500,000 public chargers in the country by 2030. Funding for new charging stations is being provided by several federal programs, including the National E...

News  Updated at: 2024/10/24

U.S. EV tax credits surpass USD 2 billion for 300,000 sales since new program launched On October 1, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) both announced that federal electric vehicle point-of-sale tax credits have surpassed USD 2 billion of savings for more than 300,000 EV buyers since the new program launched on January 1, 2024. They noted that as a result of the Inflation Reduction Act (IRA), the U.S. in 20...

News  Updated at: 2024/10/11

Foton Motor’s Forland division unveils GREEN 3030 strategy On September 28, Forland, a Foton Motor sub-brand, held a globalization strategy conference in Qingdao, Shandong Province. During the event, Foton Motor announced its ambitious internationalization strategy, GREEN 3030, outlining the company’s goal to sell 300,000 vehicles in overseas markets by 2030, with New Energy Vehicles (NEVs) making up 30% of the total sales. In addition to gr...

News  Updated at: 2024/09/30

Catalonia Government increases MOVES III program budget to support EV purchases and charging infrastructure On July 31, the Department of Climate Action, Food, and Rural Agenda, through the Catalan Energy Institute (ICAEN), announced a EUR 65 million increase in the MOVES III program to support the purchase of electric vehicles (EVs) and the installation of EV charging points. This is the fourth expansion of the MOVES III program in Catalonia, wh...

News  Updated at: 2024/08/01

Fisker sells remaining EVs for USD 46.25 million to American Lease LLC On July 16, Fisker Inc. won permission in a Delaware bankruptcy court to sell its remaining fleet of 3,300 EV crossovers for as much as USD 46.25 million to American Lease LLC, a company that leases vehicles to New York City-based Uber and Lyft drivers.  Fisker vehicles “in reasonably good working order” could be sold to American Lease for USD 16,500, while damaged vehicl...

News  Updated at: 2024/07/18

Ford considers USD 400 million investment for EV component manufacturing in Kentucky On July 12, Ray Leathers, CEO of the Shelby County Industrial & Development Foundation, said that Ford is in the final stages of making a USD 400 million commitment for a facility to support a unicast aluminum forming process in the county that's adjacent to Jackson County where Ford has two plants producing trucks (Kentucky Truck Plant) and SUVs (Louisville Asse...

News  Updated at: 2024/07/16