EV Related Business Sales and Trends
Study names Tesla as the cheapest EV to charge & drive

Zutobi has released its new study that calculates the cost of running over 100 different electric vehicles, revealing the most affordable models to run. The company ranked the vehicles according to how much it would cost to drive them 100 miles. Energy rates vary by state, so national energy prices were used to calculate the

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VinFast to build North Carolina EV factory

VinFast and the government of North Carolina have signed a memorandum of understanding (MOU) for the establishment of VinFast’s first North American manufacturing plant. The company says it intends to invest up to $2 billion in the project’s Phase 1. VinFast says its factory will create a major manufacturing center in Chatham County’s Triangle Innovation

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Lucid inks 100k EV deal with Government of Saudi Arabia

Lucid Group, Inc. has announced an agreement with the Government of Saudi Arabia, under which the government will purchase up to 100,000 vehicles over a 10-year period, with an initial commitment to purchase 50,000 vehicles and an option to purchase up to an additional 50,000 vehicles over the same period. “Delivering up to 100,000 Lucid

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ETCO introduces connectors for EVs

Custom-engineered interconnects for EV battery packs and battery management systems (BMS) that resist high vibration, shock and extreme temperatures are being introduced by ETCO Incorporated. ETCO connectors for EVs are manufactured to precise OEM specifications with regard to form, function, materials, packaging and production methods, the company says. Designed to resist high vibration, shock, and

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Lordstown Motors, Foxconn close agreement on Lordstown plant

Lordstown Motors Corp. has closed the sale of its Lordstown facility and signed a contract manufacturing agreement and joint venture agreement for product development with affiliates of Hon Hai Technology Group. On November 10, 2021, Lordstown Motors and Foxconn entered into an asset purchase agreement providing for the sale of LMC’s Lordstown, Ohio vehicle assembly plant to Foxconn for $230 million-plus

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UK car sales leap 28% in January thanks to surging EV demand

UK car sales jumped 28% in January 2022, the biggest rebound in seven months thanks to rising demand for battery-powered vehicles. According to the Society of Motor Manufacturers and Traders, one in five buyers opted for a car with a battery, with shipments of fully electric vehicles more than doubling and plug-in hybrids rising 47%.

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Bentley calls for engineers to implement ‘Five-in-Five’ EV plan

Bentley Motors has announced a recruitment drive for 100 engineers as the company accelerates its “Five-in-Five” plan, which commits Bentley to launch a new electric vehicle model each year from 2025. The open positions cover multiple disciplines of engineering and research and development, but approximately 50% are focused on electrical competencies as Bentley says it

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Penske adds Orange EV electric terminal trucks to its fleet offering

Penske Truck Leasing is adding Orange EV electric terminal trucks for use with customers across the U.S. The vehicles are designed for trailer-handling operations in truck yards, warehousing and distribution centers, container terminals and related operations where short-distance moves are required. These units will be leased and maintained by Penske. Charging will take place in

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Mahle supplies EV battery diagnostic tools to independent shops

Mahle Aftermarket has provided independent workshops with the means to run battery diagnostics on electric vehicles by equipping its TechPro diagnostic tool with new software. The software will initially be available free of charge. As part of the further expansion of the diagnostic function, Mahle Aftermarket says it plans to develop suitable licensing models for

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Mahle to use EV charging plug for battery diagnostics

Mahle Aftermarket will use the charging plug, in addition to the existing OBD port, for battery diagnostics of electric vehicles in the future. To this end, the service and spare parts division of the automotive supplier is collaborating with Volytica Diagnostics, a software developer based in Dresden, Germany. It evaluates the measured data in the

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Funding available for federal $5B zero-emission school bus program

As part of the Infrastructure Investment and Jobs Act, the U.S. Federal Government has dedicated $5 billion in funding to deploy zero-emission and clean school buses over the next five years. Priority districts can receive up to $375,000 per bus in funding, which can represent up to 100% of an all-electric school bus price, while

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American Battery Solutions re-launches manufacturing facility to meet li-ion battery demand

American Battery Solutions, Inc. has formally re-launched its upgraded 170,000 square-foot manufacturing facility, with critical added production capacity to meet the growing demand for lithium-ion batteries used in light electric vehicles and numerous industrial and recreational applications. The Springboro, Ohio facility, purchased from Robert Bosch Battery Systems in 2019, includes additional investment in equipment and

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