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HOUSTON // ESTERO, FL – bp (NYSE: bp) took another step toward delivering on its transformation to an integrated energy company today by announcing plans to invest $1 billion by 2030 into electric vehicle (EV) charge points across the United States. A cornerstone of the investment includes Hertz (NASDAQ: HTZ) and bp announcing an intention to bring fast charging infrastructure to Hertz locations in major cities, such as Atlanta, Austin, Boston, Chicago, Denver, Houston, Miami, New York […]

Notes taken from WSJ article: https://www.wsj.com/business/autos/ev-startups-struggled-to-build-cars-now-they-struggle-to-sell-them-6bfff73c?mod=hp_lead_pos6 Electric vehicle startups, once grappling with the challenge of rapid car production, now find themselves struggling to sell their vehicles. Companies like Rivian Automotive and Lucid Group recently provided less-than-optimistic production forecasts for the year, attributing the decline in electric vehicle (EV) demand to factors such as high interest rates and economic uncertainties. Rivian, known for its electric pickups, plans to manufacture approximately the same number of vehicles as last year […]

Source: McKinsey – By Peter Fröde,  Morgan Lee, and Shivika Sahdev Check the original article here: And here’s an excerpt: Although electric vehicle (EV) adoption in the United States has historically lagged behind other regions, the country is now experiencing remarkable growth. In 2022, approximately 8 percent of all new passenger cars sold in the United States were EVs, up from around 5 percent in 2021. By 2030, this figure could potentially rise to 53 percent. To meet the growing […]

Source: https://www.energy.ca.gov/news/2023-09/california-leaders-celebrate-surpassing-10000-fast-charger-goal In Union City, California, state leaders celebrated a significant achievement by surpassing their target of installing 10,000 fast chargers for electric vehicles (EVs), achieving this milestone more than a year ahead of schedule. The celebratory event took place in the parking lot of the El Mercado Plaza Shopping Center in Union City, where new EVgo direct current fast chargers were recently installed, funded by the state. These chargers played a crucial role in reaching the […]

According to J.D. Power, the satisfaction with EV charging is on a decline, raising concerns for industry leaders as electric vehicle adoption continues to rise. The recently released 2023 U.S. Electric Vehicle Experience Public Charging Study by J.D. Power indicates a drop in charging satisfaction for both Level 2 and Level 3 chargers across almost every category. The study, which was initiated in 2021, reveals that satisfaction with Level 2 charging has decreased to an average score […]

Shares of EV startup Rivian (RIVN) are up over 14% Friday after Wedbush analyst Dan Ives upgraded his price target. Ives cited the EV maker is making “a major turning point” in its execution strategy, raising Rivian stock price target to $30 a share from $25. Rivian’s stock rally has lasted over a week, with share prices increasing over 80% since June 27, 2023.After shattering analyst estimates earlier this week, delivering 12,640 electric vehicles, and producing 13,992 […]

Great little graphic that sums it up… Source: US DOT

Interesting new report published by the US Department of Transportation: Source: https://www.transportation.gov/rural/ev The rapid growth in electric vehicles (EVs) today is part of a fundamental shift in transportation that promises substantial benefits to individuals, businesses, communities, and the entire Nation. All Americans, regardless of where they live, should have the opportunity to benefit from the lower operating costs, reduced maintenance needs, and improved performance that EVs provide. Similarly, all communities—including communities of color, underserved communities, and environmental […]

How electrification has the potential to undo decades of improvements in auto customer experience. The hype around vehicle electrification seems to be in hyperdrive. Much of the narrative surrounding it sounds like this:– Electric vehicles are coming! In the next two to three years, more EV models will be introduced in the U.S. than currently exist.– Consumers are ready! The 2022 Ipsos Mobility Navigator Study showed that interest in EVs has more than quadrupled in the US […]