electric

Carmakers shift up a gear in race to go electric

By Nick Carey

LONDON (Reuters) – With electric car sales soaring and regulations increasingly favouring zero-emission vehicles, a flurry of announcements on Monday showed how the global auto industry has kicked into a higher gear as it races to speed past the fossil-fuel car era.

As part of its own 30 billion euro ($34.7 billion) electrification plan Stellantis – born out of a merger of PSA and Fiat Chrysler earlier this year – said it had entered a preliminary agreement with battery maker LG Energy Solution to produce battery cells and modules for North America, where the world’s No. 4 automaker expects more than 40% of its U.S. sales will be electric vehicles (EVs) by 2030.

That follows a recent announcement that Daimler AG will take a 33% stake in battery cell manufacturer Automotive Cells Company (ACC), founded in 2020 by Stellantis and TotalEnergies in 2020.

Carmakers are racing to

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UK electric car market in top speed as sales jump 186 per cent during pandemic



a person walking down a street next to a car


© Provided by City AM


Electric car sales in the UK have jumped by 186 per cent to 108,000 in 2020, up from just 38,000 in 2019, according to a new study, shared exclusively with City A.M. this morning.

This growth is six times higher than the average sales growth of electric cars globally at 31 per cent in 2020, putting the UK in fourth place out of 26 countries in the study by accountancy firm UHY.

Worldwide growth in sales of electric cars has outpaced global car sales – including petrol and diesel – which fell by approximately 15 per cent to 64m in 2020, down from 75m in 2019.

Less than a fifth (19 per cent) of countries in UHY’s study saw sales of electric cars fall during the first year of lockdown, including Japan which fell 31 per cent and Canada, down 20 per cent in 2020.

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Electric vehicles are the biggest automotive trend in ‘100 years or so,’ analyst explains [Video]

The next decade could be one of accelerating electric vehicle (EV) adoption.

“It’s an exciting time ahead of us with regards to new technology in the automotive industry,” Martyn Briggs, an analyst at Bank of America, said on Yahoo Finance Live (video above). “You’ve got to go back a hundred years or so before we had such a transition, ironically then from electric to combustion cars, and now obviously we’re going to be doing the reverse.”

In August, President Biden announced a target for EVs to represent half of all U.S. auto sales by 2030. To give the scale of the effort, the share of new electric vehicles sales, which also include plug-in hybrids, reached 2% in 2020.

“50% in the U.S. might sound bullish from where we are today, but if you look at that kind of momentum of the models that are coming out, how good they

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