- UK laws to change from end of June which will require all home and workplace electric car chargers to have smart charging capabilities. Link
- Tesla was removed from S&P 500 ESG index due to issues and lack of disclosure relative to its industry peers despite contributing to reducing its emissions through its EVs Link
- EV charging still represents value for money compared to a petrol or diesel car despite cost of charging increasing by 25% since September 2021 Link
- New projects in Australia hint at how EVs can generate their own energy and recharge their own batteries by exploiting the Earth’s gravity for power Link
- Affordable electric vehicles become a rarity again as EV demand spikes and supply shrinks Link
- Hundreds of high-value industrial scientist jobs around the UK have been saved as Johnson Matthey sells high-performance electric car battery business to EV Metals for £50m. Link
- Adding an EV charging point to homes in the UK will increase the value of the property Link
- Stellantis and Samsung to build $2.5bn battery factory in Indiana; teaming up to accelerate shift to EVs Link
- ABB and Siemens are leading a €100m funding round by Morrow Batteries. The start-up aims to produce EV batteries in Norway by the end of 2023 Link
- Pembrokeshire National Park has installed 74 electric vehicle charging points in an attempt to encourage sustainable tourism and improve countryside access. Link
RELEVANT ARTICLES
The Wall Street Journal – Electric Vehicles Speed Ahead on a Bridge to Nowhere Link
Neoliberals who want to replace the internal combustion engine-powered car with EVs is more rife than ever. There is not enough lithium being produced to keep up with manufacturing and projected demands of EVs. For example, if Tesla used every available pound of world-wide lithium for its Model S battery consumption, it could only produce 1million Model S’s per year. Furthermore, the US only has one large active lithium mine, with two further proposed mines in the pipeline. But the irony is, the people who are demanding the move to all-electric vehicles are the ones actively objecting to the new mines opening.
Bloomberg – Is anyone actually making Electric Vehicles? Link
Manufacturing future-forward cars is only getting harder as costs surge. Investors are being hit by reality as share prices for EV companies begin to drop and rates are rising. Originally they rushed to find a EV start-up to invest in “something green and tech-y” but can manufacturing companies actual make the product and at scale? Costs to produce vehicles are surging, parts are in short supply, regulations are tightening, prices are rising and sales are dropping. The danger now is that the hype dies off and takes demand with it, as consumers give up their hopes. In that case, we’ll end up where we started. Investors need to peel past the promises and pressure manufacturers to produce — at scale, and soon.
STATISTIC OF THE WEEK
RAC – The road to electric Link
