EV News Round Up

Welcome to another EV news round up! This week we are featuring a variety of dealership news, legislation updates, new E-Hardware, and more! Chevy announced that the new Bolt EV model will be the cheapest EV yet currently on the market, while Ford reacts to their dealerships doubling the price of the new Ford F-150. Wireless charging will debut in Michigan in a few years after seeing success in various European countries. Just in time since a recent survey reveals most consumers would like to see wireless EV charging become available plus more! Finally, take a look at this guide to EV models to see what brands are going electric and their planned EV lineups. As always, let us know your thoughts @REACHStrategies! 

Cars/Buses/Trucks

• Ford dealerships are doubling the prices of the F-150 Lightning due to popular demand, despite strong warnings from the manufacturer. Ford plans to move the purchase process for all EVs online, removing price negotiation. Ford also announced a $1.5 billion investment to develop a new commercial EV that will start production in a few years while not disclosing the type of commercial vehicle it will be. 
• Volvo EVs are pairing up with Epic Games’ “unreal engine” that is used in a variety of video games to enhance the graphics experience of their infotainment center, while making it twice as fast as their previous models. 
• In a potential effort to stay competitive as GM ramps up their electrified offerings, the new Chevy Bolt EV will be the cheapest EV in the United States at $26,595, a 27% decrease from the 2020 model. 
• Buick has announced its commitment to an all-electric future with its first EV hitting the market in 2024, with plans to be all electric by the end of the decade. They also revealed their new logo highlighting this transition. 
• Aptera has raised funds to begin production on their very efficient solar electric car Depending on the battery size, the vehicle has between 250 and 1000 miles of range and can add up to 40 miles a day of range via solar power when parked. They start at $25,000! 

Legislation/Reports

• Despite inflation, President Biden is keeping funds available for an EV revolution that allows mining companies to continue gathering crucial materials like nickel, lithium, and graphite. 
• Colorado’s governor has signed into law an air-quality bill creating a $65 million grant program for E-Buses in the state in order to facilitate and speed up efforts for their transportation to go electric. 
• It’s time to push towards electrified medium to heavy duty commercial vehicles. A recent report by BloombergNEF has stated that net-zero emissions by 2050 is still possible, but the potential is slipping unless we make this push. 

EVs for Business

• Mazda will make factories carbon neutral by 2035 but will continue to manufacture ICE vehicles from those factories.
• Stellantis  Chrysler’s parent company announced it will begin to manufacture an EV with 500 miles of range in its factories in Ontario, CN. 

Hardware

• Wireless EV charging while driving will debut in parts of Detroit in 2025, as Electreon’s patented wireless in-road EV technology begins implementation state-side for the first time after success in Sweden and Italy. Related, a recent survey shared most EV shoppers would prefer wireless charging available and it would help them make the decision to buy an EV and drive it more than an ICE vehicle. 
• In the San Francisco Bay area, a study has shown that nearly a quarter of DC fast charging stations were not functionable, either to sustain charging over a period of time, or because the station was inaccessible. Meanwhile, an oncoming drought in the state will decrease hydropower and will increase the carbon emissions of EV chargers. 
• There is a growing fear of a lack of materials and distribution to supplement the EV revolution, reinforcing the need for innovative technology efforts like the all-solid-state battery.