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This past week brought a mixed bag of news for the electric vehicle industry, which continues to struggle with worries about slower-than-expected adoption.


EV experts and research firms are projecting that the growth rate of sales, which has slowed this year, will tick up in 2025 and accelerate in the following years, according to reporting by Inside Climate News. 


Toyota, which has already put a greater focus on hybrid vehicles over fully electric vehicles relative to its competitors, has scaled back its by about a third. The company has been slow to roll out EVs in the U.S., but it is still planning to produce 1 million in 2026. 


ChargePoint Holdings, a California-based EV charging company, announced that it will lay off 15% of its workforce because of decreased revenue, while Swedish battery manufacturer Northvolt also announced job cuts. 


Stellantis announced that it has suspended production of the electric Fiat 500 small car for four weeks because of limited demand. The company pointed to “deep difficulties experienced in the European electric [car] market.” 


In some better news for the industry, Mercedes-Benz announced a breakthrough in solid-state battery technology, which the company is hoping to include in vehicles by the end of the decade. Solid-state batteries have the potential to significantly expand EV ranges and are significantly further along in the development process in the Chinese market. 


The company remains in hot water, however, after a Mercedes EV triggered a major fire in South Korea in early August. The country’s antitrust regulator recently launched a probe into a local subsidiary of the company. 


Another factor working against the EV industry is the political influence of legacy interests. Industry groups representing truck stop owners, convenience stores and fuel marketers are working to kill legislation that would remove barriers to where EV chargers can be deployed. 


In heavy-duty vehicle news, a new study from McKinsey found that the cost of zero-emission trucks needs to fall by about half to compete with traditional diesel alternatives. Electric trucks currently cost about 2.5 to three times more than diesel vehicles, the firm said. 


In decarbonized shipping news, a French company recently completed the first wind-powered cargo voyage across the Atlantic in nearly a century. The ship’s contents included hundreds of pallets of champagne, wine and cognac. 


Read on for the rest of this week’s Intelligence Report: 


Jump To

Electric Vehicles
Heavy-duty Vehicles
Medium-duty Vehicles
Shipping

 
 

Electric Vehicles

California

Bay Area charging company to lay off 15% of its employees

Campbell-based electric vehicle charging company ChargePoint Holdings will lay off 15% of its workforce as it faces a sharp drop in revenue, it announced in its second quarter earnings report. San Francisco Chronicle


California

These solar + wind + storage EV chargers replace streetlights

San Diego-based Beam Global has launched EV chargers powered by solar, wind and battery storage that replace streetlights. Beam says its patented BeamSpot lowers utility costs, increases resiliency and helps to balance the grid. Electrek


Illinois

Illinois Investing $25M In Electric Vehicle Charging Infrastructure

Illinois is allocating over $25 million in grants to develop electric vehicle charging infrastructure along interstate corridors. In this initial funding round, 37 projects across the state have been selected. Charging stations will be established in Cook, DuPage, Madison, Clark, Macon and Tazewell counties. This investment supports Gov. JB Pritzker's goal of having 1 million electric vehicles on Illinois roads by 2030. WFIW


Illinois

Pritzker announces $25.3M investment in electric vehicle charging infrastructure

Gov. JB Pritzker and the Illinois Department of Transportation announced $25.3 million in grants to build charging stations along interstate corridors through the initial round of funding made available from the National Electric Vehicle Infrastructure Program. WICS


International

Battery Maker Northvolt to Cut Costs as EV Demand Slumps in Europe

The Swedish battery manufacturer said it would eliminate jobs and seek partnerships as it grappled with competition from China. The New York Times


International

Beijing Wants Chinese Electric Vehicle Tech to Stay in China

China has strongly advised its carmakers to make sure advanced electric vehicle technology stays in the country, people familiar with the matter said, even as they build factories around the world to escape punitive tariffs on Chinese exports. TIME


International

Car giants are being forced to confront some hard truths over the EV transition

Analysts, however, have made clear that despite the short-term uncertainties, carmakers realize they cannot afford to miss out on EVs -- and the direction of travel remains clear. CNBC


International

Carmakers adjust electrification plans as EV demand slows

The global sales of EVs -- either fully electric or plug-in hybrid -- rose 20% in the first half of 2024, slower than expected. Europe saw only 1% growth in the same period. Reuters


International

EU rejects Chinese proposals to avoid duties on EVs

Offer of price floors or volume caps would not offset the injury caused by Chinese subsidies, European Commission says. POLITICO


International

EV sales have not fallen, cooled, slowed or slumped. Stop lying in headlines.

Here's what's actually happening: Over the course of the last year or so, sales of battery electric vehicles, while continuing to grow, have posted lower year-over-year percentage growth rates than they had in previous years. Electrek


International

Gigacasting expected to rise with EVs, concerns remain

Gigacasting is pushing the boundaries of what's possible in automotive production, particularly in the realm of electric vehicles. Despite the challenges it presents, gigacasting could play a significant role in shaping the future of automotive manufacturing, writes Raghunandan Gurumurthy, a global expert in industrial engineering and director of North America Operations at Crossover Solutions. Forbes


International

GM and Hyundai Plan to Work Together on New Vehicles

General Motors and the South Korean automaker say they will collaborate on new vehicles, buying parts and clean energy technologies. The New York Times


International

Growth in demand for EVs slows amid charging-infrastructure concerns

A new EY report shows a lack of charging infrastructure and the cost of battery replacements are the biggest concerns around buying an electric vehicle. Silicon Republic


International

How can China make EVs that sell for less than $20,000?

China has been able to produce lower-cost EVs due to a combination of intense domestic competition, subsidies, a low-paid labor force and a comprehensive supply chain. Marketplace


International

Massless' battery promises a 70% increase in EV range

Researchers say they've built and tested a structural battery that packs a device or EV's chassis with energy, saving a ton of weight. It could unlock smartphones as thin as credit cards, laptops at half the weight and a 70% boost to EV range. New Atlas


International

Mercedes announces breakthrough in solid-state EV battery tech, but Chinese rivals are still way ahead

Mercedes-Benz and Factorial, a self-proclaimed industry leader in solid-state battery research, have announced their latest breakthrough in EV battery tech with a new Solstice pack that promises to deliver enormous range -- by the end of the decade. TechRadar


International

New body to combat misinformation on electric cars and present 'the good and the bad'

A new body has been created to highlight "the good and the bad" aspects of owning an electric vehicle. The Independent


International

South Korea antitrust regulator probes Mercedes-Benz local unit after EV fire

South Korea's antitrust regulator has launched a probe into the local unit of Mercedes-Benz, an official at the Korea Fair Trade Commission said without elaborating. Reuters


International

Stellantis pauses production of electric Fiat 500 due to poor demand

Stellantis said it would suspend production of the fully electric Fiat 500 small car for four weeks due to sluggish demand. The global slowdown in sales of electric vehicles, partly due to diverging policies on green incentives, has pushed automakers worldwide to adjust their EV plans. Reuters


International

Study links EV charging stations to increased local business activity

Researchers from the Singapore-MIT Alliance for Research and Technology and elsewhere have published a study in Nature Communications, one of the first worldwide, that demonstrates the economic benefits of Electric Vehicle Charging Stations. Phys


International

Tesla-supplier Panasonic Energy prepares for high-capacity EV battery production

Japanese Tesla supplier Panasonic Energy has finalized preparations for the mass production of its high-capacity electric-vehicle batteries, the company said, as it seeks to start supplying the cell to automakers. Reuters


International

The Electric Vehicle Future Is Coming. Just a Little More Slowly.

Though large automakers are delaying their plans to introduce new all-electric models, the E.V. industry is still the future, experts say. The New York Times


International

The New Car Market Is 'Stuck' Because Buyers Can't Afford Them

The whole car market is slowing "unless consumers get some relief." Plus, the Kia EV9 shows what's at stake in the November election. InsideEVs


International

Toyota's EV targets were already low. Now they're getting slashed as hybrids rule.

The automaker's rollout of electric models has been far from smooth. Quartz


International

Volkswagen's $5B Deal With Rivian Leaves Software Arm Cariad Workers Frustrated, CEO Left Out: Report

The recent $5 billion deal between Volkswagen and U.S. electric vehicle startup Rivian Automotive RIVN has reportedly stirred up discontent among employees at the German automaker's software division Cariad. Benzinga


Maryland, Virginia

EV charging stations coming to disadvantaged communities in Maryland and Virginia

A few dozen electric vehicle charging stations are coming into disadvantaged communities in Maryland and Virginia, the Metropolitan Washington Council of Governments announced. WTOP


Michigan

Michigan will be home to first Stellantis EV factory in US

Stellantis will build its first EV truck in Michigan, following a $235 million investment. Adding electrification production capability to two additional Michigan factories will bring the automaker's Michigan investment to $406 million. Bridge Michigan 


New Jersey

Electric Vehicle Charging Incentives Available for Some NJ Residents

Jersey Central Power & Light, a subsidiary of FirstEnergy, has relaunched its EV Driven residential electric vehicle charging incentives after maxing out customer participation in 2023. The incentives cover the cost of preparation work that customers are required to complete before an EV charger can be installed. PR Newswire


New York

NYC looks to kick its curbside EV charging plans into second gear

The city won a $15M federal grant to build 600 curbside EV chargers throughout its streets. It's part of a broader push to build 10,000 curbside chargers by 2030. Canary Media


U.S.

DOE: Expect 'striking' increase in EV battery metal processing

The U.S. is quickly developing its capacity to process critical minerals like lithium and graphite, according to a top Biden official. Greenwire


U.S.

Easier-to-swallow' hybrid cars are becoming popular as Americans fear EVs are unreliable

The share of U.S. consumers looking at buying a hybrid as their next vehicle rose 2% in Ernst and Young's Mobility Consumer Index, a global survey of almost 20,000 consumers across 28 countries. Quartz


U.S.

Electric Family Cars Are Becoming Too Powerful. It Might Be Time For A 'Gentleman's Agreement'

Horsepower wars have been raging in the U.S. since day 1, but there has always been a limiting element that has kept figures from getting out of control in a regular consumer vehicle. Now, with electric cars, that element is gone, leading me to wonder if a "gentleman's agreement" makes sense now more than ever. The Autopian


U.S.

EV Charging Network Growth Lacking, Study Shows

SBD developed an algorithm that determined the optimal ratio of electric vehicles to on-road public charge points is nine or 10 EVs to one public charging point. Forbes


U.S.

EVgo and GM reveal their new fast charger experience

Several years ago, General Motors and EVgo teamed up to build out a network of fast chargers for electric vehicles. Now the two partners have shown off their concept for an improved charging experience, which they say will come to a number of flagship charger locations around the U.S. Ars Technica


U.S.

Gas station trade groups oppose EV chargers at rest stops

Industry groups that represent convenience stores, truck stops, travel centers and rest areas in the U.S. want EV drivers to come to them for their recharging needs, just as drivers of ICE vehicles have patronized them for their refueling needs. ChargedEVs


U.S.

House passes bill targeting China that would limit EV tax credits

The U.S. House of Representatives voted narrowly to approve legislation to tighten rules limiting Chinese content in vehicles qualifying for U.S. electric vehicle tax credits. Reuters


U.S.

Jeep's first EV for the US could be delayed if it's not 'perfect quality'

The first all-electric Jeep may not arrive at U.S. dealerships this fall as planned. According to Jeep's CEO, Antonio Filosa, the company's first EV could launch later than expected. As Filosa made clear, "no launch if the quality isn't perfect." Electrek


U.S.

Unionized Workers Making EV Batteries Downplay Politics of the Product

Years after GM's Lordstown Assembly plant closed, union manufacturing jobs have returned to northeast Ohio, where workers feel the benefits firsthand. Inside Climate News


U.S.

Utilities hold the key to the electric vehicle market

Drivers are concerned about the fragile infrastructure underlying EVs, a challenge that can best be resolved not by auto manufacturers but by electric utilities. Utility Dive


U.S.

What Americans Get Wrong About Electric Cars

Charging isn't the headache that many people think it is. For many, the outlet that's already in their garage is almost always all they'll need to keep an EV running. The Wall Street Journal


U.S.

When Will the EV Sales Slump End? Here's What the Experts Say

U.S. electric vehicle sales have slowed in 2024. So how long will this period last? Auto analysts discussed the issue, covering the market as a whole and models whose sales have been surprisingly strong. Inside Climate News


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Heavy-duty Vehicles

International

Emissions-free truck prices need to drop by 50% to compete with diesel, study says

Less than 2% of the EU's heavy freight vehicles are now electric and hydrogen-powered. To meet the bloc's carbon emission reduction targets, the share should rise to 40% of new sales by 2030. Reuters


International

Truck makers face tough choices on hydrogen and battery options

Multinationals are reaching different conclusions. And the wrong choice could be expensive. Deutsche Welle


U.S.

Succeeding with renewable natural gas for heavy-duty trucks

Industry's first 15-liter natural gas engine bridges gap between renewable natural gas and diesel engine capabilities. FreightWaves


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Medium-duty Vehicles

U.S.

Slowly but Surely, US School Buses Are Starting to Electrify

Advocates point to the health benefits for children and communities but say more needs to be done to promote this transition. Yale Environment 360


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Shipping

International

The world's largest wind-powered cargo ship just made its first delivery across the Atlantic

The French startup that designed the ship, called TOWT (TransOceanic Wind Transport), argues that sailing cargo ships can viably compete with container ships running on fossil fuels. Fast Company


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