MARKET NEWS

LG entering the EV market, as they plan to lead the charging business Link

Thanks to Truss’s price cap, the cost of charging electric cars will reduce by a third Link

Renault prepared to enter the Latin American EV markets Link

Tesla planning to build a lithium refinery in the US Link

UK greenlights a series of battery, electronics, mining and recycling projects with £25 million Link

Switching to electric cars delayed due to high costs Link

Industry bosses in Germany warn that soaring energy costs could threaten the future of EV production and sales Link

Lithium mining as a result of EV demand is threatening Chile’s flamingos Link

Green investment net zero rules in the City of London risk a slowdown in the transition to EVs Link

EVs still cheaper than ice despite rising energy costs Link

Peugeot offers 100% EVs in the Middle East Link

BMW commits to using recycled fishing nets in new line of EVs, this is one step closer of their goal of using 40% secondary materials in new vehicles by 2030 Link

RELEVANT ARTICLES

Financial Times – a robotaxi is a confident but cautious chauffeur Link

General Motors’ self-driving unit, Cruise, introduced its robotaxi service in San Francisco just a few months ago. The service is completely safe, only operating at night, when the roads are quiet and the cars cannot travel faster than 30mph. Though an autonomous vehicle revolution seems close, it is taking longer than those in the industry hoped. Elon Musk predicted that a million vehicles with self-driving software would be on the roads by 2020. However, the key obstacle is the enormous cost of making fully autonomous cars a reality, as well as the ability of self-driving technology to adapt to real-life circumstances.

Wall Street Journal – Policies pushing electric vehicles show why few people want one Link

Evidence shows that electric vehicles are neither better nor cheaper overall than gasoline-powered cars. Electric cars still emit a significant amount of CO2, and making batteries for these cars requires a massive amount of energy. Furthermore, they are costlier per mile, and have a shorter range than gasoline-powered ones. Therefore, there is little incentive for families or car owners to switch to electric, alongside the added cost of either installing a charger, or spending time at commercial chargers which take much longer than filling up with gasoline. Politicians are spending huge amounts to subsidise and promote the usage of these cars, but is there really a benefit?

STATISTIC OF THE WEEK

Bloomberg – The Biggest Copper Mine in the US Stalled in Dispute Over Sacred Ground Link

Copper Used in an Electric Car