Volvo secures a remarkable victory with three class wins at the prestigious Auto Trophy 2024, showcasing the exceptional quality and reliability of its electric and hybrid models.
EV News
Lithium-ion battery prices dropped significantly in 2024 to $115 per kWh, the largest decrease since 2017. Key factors include overproduction, economies of scale, reduced raw material costs, and the growing use of cheaper lithium iron phosphate (LFP) batteries. LFP batteries are safer, longer-lasting, and environmentally friendlier but have a lower energy density, limiting EV range.
Stellantis and CATL have announced a joint investment of up to €4.1 billion to build a large-scale lithium iron phosphate (LFP) battery plant in Zaragoza, Spain. Scheduled to begin production by the end of 2026, the factory aims to achieve a capacity of up to 50 GWh annually, supporting the production of affordable and durable batteries for electric vehicles.
Chery's iCar V23, an electric off-road SUV, is set to hit the market on December 16, marking the brand's second mass-produced vehicle entry.
CATL and BYD are leading the global EV battery market, holding the top two positions with significant shares. Their dominance highlights the importance of battery technology in the electric vehicle industry.
Volvo Cars' global sales surged by 5% in November, with electrified vehicles making up nearly half of all sales. Europe and the US led this growth.
The DOE's $7.5 billion loan to Stellantis and Samsung SDI aims to boost battery production in Indiana, enhancing the US EV supply chain with two new plants.
Porsche recalls nearly 3,000 electric Macan models due to headlight brightness issues exceeding US standards, requiring dealership visits for software reprogramming.
Li Auto is making significant strides with its smart driving team reshuffle and 0-interest financing, setting a competitive edge in the EV industry.
Rivian has secured a $6.6 billion conditional loan from the DOE to build a new electric vehicle plant in Georgia, expected to produce 400,000 vehicles annually.
