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GM's Q2 operating profit drops 45.1%, sales up 7.5%
GM's Q2 operating profit drops 45.1%, sales up 7.5% On July 22, General Motors reported that its Q2 2025 net income dropped 35.4% to USD 1.9 billion, with import tariffs costing it USD 1.1 billion since first imposed in April. EBIT Adjusted of USD 3.04 billion was down 31.6% compared to the same period a year ago. Q2 revenue was down 1.8% to USD 47.1 billion, with GMNA (North America) revenue down 3.0% to USD 39.5 billion, and GMI (International)...
News Updated at: 2025/07/25
Portuguese Government allocates EUR 10 million annually for green mobility package to increase EV adoption
es, improving road safety, environmental quality, and reducing the age of national fleets, aligning with the Climate Framework Law. For passenger vehicles, individuals receive a EUR 4,000 incentive with the scrapping of a fossil-fuel vehicle over 10 years old and purchasing EVs, limited to vehicles costing EUR 38,500 or less, while IPSS organizations receive EUR 5,000 per vehicle. For light commercial vehicles, legal entities can receive EUR 6,00...
News Updated at: 2024/10/30
Mexico to produce Olinia, a 100% national EV
Mexico to produce Olinia, a 100% national EV On October 16, Mexican President Claudia Sheinbaum presented the project for the manufacture of Olinia, the first EV 100% designed and assembled in the country. The vehicle is expected to be one of the cheapest on the market, costing between USD 20,000 and USD 30,000, competing with models such as the SEV E-Wan Cross, currently the cheapest EV on the Mexican market, and the BYD Dolphin Mini. The vehicl...
News Updated at: 2024/10/17
Faraday Future announces second vehicle brand, FX, focusing on affordable electrified vehicles
n customers. FX models will also be available with battery electric powertrains. Initially, the company aims to launch two models during FX’s first phase of operations. The FX 5 will be an AIEV with a price between USD 20,000 and USD 30,000, while the FX 5 will be a larger AIEV model for families costing between USD 30,000 and USD 50,000. Faraday Future aims to produce its first FX vehicle by the end of 2025. (Faraday Future Intelligent Electri...
News Updated at: 2024/09/28
GlobalData blog: US BEV winners and losers in H1 2024
cerning the tow hitch receiver, which could separate from the vehicle’s aluminium frame while towing. Values on the used car market continue to decline sharply and waitlist buyers are turning down their reservations on the six-figure-priced all-wheel drive (AWD) variant as many expected a vehicle costing well under US$60,000. The hype around the vehicle has fallen away rapidly since its release as the AWD trims can now be ordered and delivered ...
News Updated at: 2024/09/12
Honda’s Prologue EV has best U.S. sales month ever in August
es record with 5,401 models sold. Deliveries since launching in March 2024 now total 10,394 units. Offering sales incentives along the way, Honda introduced a new Labor Day Dealer Cash bonus with up to USD 14,250 in incentives, making the Honda Prologue EV even cheaper to lease than a Civic despite costing nearly double. All Honda Prologue models qualify for the USD 7,500 EV tax credit, bringing prices down to as low as USD 39,900 (before destina...
News Updated at: 2024/09/07
RWTH Aachen University, Germany launches consortium study on EV battery recycling
S) industry, battery cell manufacturers, the digitalization sector, material producers, and the transport and logistics industry. Additionally, AAdditionally, the institute is looking for eight interested industrial partners to develop a modular system for life cycle assessment (LCA) and life cycle costing (LCC) for battery recycling. Based on RWTH Aachen University press release...
News Updated at: 2024/08/20
First Geely Interstellar Bus methanol-hydrogen electric highway bus unveiled
ely in-house developed 6L methanol engine, the U11M delivers a range of over 600km, more than twice that of a battery electric bus with a 300kWh battery, and a charging time as little as 10 minutes. Compared with diesel vehicles, the U11M saves CNY 1 per kilometer in fuel cost under the same range, costing only CNY 1 of fuel per kilometer on average. This makes the model greener and more eco-friendly and fully applicable in various scenarios such...
News Updated at: 2024/08/14
Dubai RTA secures AED 1.1 billion contract for purchasing 636 Buses
Dubai RTA secures AED 1.1 billion contract for purchasing 636 Buses On July 21, the Dubai Roads and Transport Authority (RTA) announced that it had secured a contract for the purchase of 636 buses of various sizes, to establish a sustainable and resilient public transport system. The initiative, costing AED 1.1 billion, aims to achieve targets set out in the Dubai Urban Plan 2040. The contract includes purchasing 40 electric buses from Zhongtong...
News Updated at: 2024/07/25
Volkswagen Annual Media Conference 2024 and Q&A: continue value over volume approach
ating to develop the electromobility infrastructure.Regarding the subsidies, the bonuses, if you want to create incentives in the smaller segments, you have to get the funding. 2. Affordable EV In order to grow e-mobility, it is necessary to make the vehicles more affordable to clients, vehicles costing around EUR 20,000.00. Are there any plans for that? Any plans of cooperation with Renault? - CEO Oliver Blume: As for more economic EVs, we ...
News Updated at: 2024/03/15
Panasonic may add 4680 battery production to new Kansas plant
Panasonic may add 4680 battery production to new Kansas plant Panasonic Energy is considering new investments of up to USD 4 billion in its De Soto, Kansas, plant to produce 4680 battery cells for the Tesla Cybertruck and Tesla’s next-gen vehicles, according to sources with knowledge of the matter. The Kansas plant, currently under construction, is already costing Panasonic USD 4 billion. Panasonic already plans to build 2170-type cells for EVs...
News Updated at: 2024/03/12
Jetour launches T2 SUV in Russia
Jetour launches T2 SUV in Russia On March 5, Jetour launched Jetour T2, the first all-wheel drive model in the Jetour line, in Russia. The new product was developed by the Travel+ brand concept. The car is available in two trim levels: Voyage and Expedition, costing RUB 3,759,000 and RUB 3,999,000 respectively. It is equipped with a two-liter four-cylinder 2.0TGDI engine producing 245 hp power and a torque of 375 Nm, paired with a 7DCT seven-spee...
News Updated at: 2024/03/06
Olectra Greentech, India bags order for 2,400 electric buses
Olectra Greentech, India bags order for 2,400 electric buses On February 22, the consortium of Olectra Greentech Limited and Evey Trans Private Limited (EVEY) received a letter of award (LOA) from Brihan Mumbai Electric Supply & Transport Undertaking (BEST / Authority) for supply, operation, and maintenance of 2,400 electric buses on gross cost contract basis costing around INR 40 billion approximately.EVEY will procure these buses from Olectra a...
News Updated at: 2024/02/22
EU funded the ALMA project concludes offering insights to reshape future of e-mobility
reshape the future of electric mobility. In the project, the ALMA Battery Electric Vehicle (BEV) body-in-white (BiW) structure achieved a remarkable 22% weight reduction, with an Eco-Design approach and advanced materials, backed by TNO’s BEVSIM tool for Life Cycle Assessment (LCA) and Life Cycle Costing (LCC). This resulted in a total CO2-eq reduction of 1,850 kg, a 24% decrease in emissions throughout the vehicle’s service life. A 160kg l...
News Updated at: 2024/02/08
Rivian to present R2 crossover at March 7 event in California
hicles on city property along the beach. Industry watchers expect to see a prototype of a crossover or SUV version of the R2, possibly similar to U.S. patent images regarding technical features. CEO RJ Scaringe has said that R2 models will be an alternative to Tesla and other EV makers for vehicles costing USD 45.000 to USD 50,000. The Tesla Model Y crossover starts at USD 45,630 with shipping. The next-generation R2 platform is expected to launc...
News Updated at: 2024/02/07
Subaru updates 2024 Solterra with faster charging in U.S.
Subaru updates 2024 Solterra with faster charging in U.S. On January 25, Subaru of America announced pricing on the enhanced 2024 Subaru Solterra all-electric SUV with several new features that arrives at Subaru dealerships nationwide in early 2024 Costing only USD 120 more than last year, the 2024 Subaru Solterra has a starting price of USD 44,995 MSRP before applicable federal, state, or local tax credits. The 2024 Solterra will qualify for a...
News Updated at: 2024/01/31
Bobaek invests CAD 35 million for EV battery component plant in Windsor, Canada
r Airport and expected to open in June 2024, will include state-of-the-art production equipment, including pressure molding and sensor cutting machines, tape assembly, silicon pad cutting and packing automation lines, and 3D measuring equipment. In a second phase in 2025, a 71,000-square-foot plant costing between CAD 25 million and CAD 30 million and employing 70 additional workers, will be built adjacent to the first. “We chose Windsor becaus...
News Updated at: 2023/12/13
JLR announces new jobs to increase Range Rover production and development of BEVs
unced that it will recruit 300 new technicians and test engineers in the West Midlands to expand production of its Range Rover vehicles and develop its next-generation electric models.Out of the 300 roles, JLR will recruit around 100 technicians for its Solihull plant to operate in a new body shop costing around GBP 130 million, which will support a 30% increase in Range Rover and Range Rover Sport production and a new body production system cos...
News Updated at: 2023/08/17
Kia India, launches 2023 Seltos SUV for a starting price of INR 1.09 million
Kia India, launches 2023 Seltos SUV for a starting price of INR 1.09 million On July 21, Kia India launched the 2023 Seltos SUV at a special introductory price of INR 1.09 million (Ex-showroom) pan-India. The Seltos SUV comes in 18 variants with top of the trim with ADAS– GT-line and X Line in both diesel and gasoline engines, costing INR 1.98 million and INR 1.99 million. The New Seltos received the highest day 1 booking of 13,424 units. The S...
News Updated at: 2023/07/21
SKO-ENERGO renovates Mlada Boleslav plant with 100% biomass usage
SKO-ENERGO renovates Mlada Boleslav plant with 100% biomass usage On July 13, Skoda Auto's energy provider subsidiary, SKO-ENERGO announced the project launch to modernize its plant in Mlada Boleslav, Czech Republic, aiming for 100% biomass usage and carbon neutrality. Construction will begin in 2024, and the upgraded heating plant, costing EUR 141 million, will be operational within 3 years. The project aligns with Skoda's environmental targets ...
News Updated at: 2023/07/13