Welcome to the latest edition of the EV Universe Electric Newsletter #010, your go-to source for all things electric vehicles!
In each edition, we take a closer look at the exciting developments in the EV world and dive into the latest news and trends shaping the industry. From the latest makes and models to advancements in electrification, to innovative accessories and technologies, we’ve got you covered.
Join us on this journey. Let’s explore the future of sustainable transportation and its electrifying impact on our world. In this edition, we are covering the January EV sales, Kia Concept EV5, and more affordable EVs due to drop in battery material prices.
“Electric vehicles make up 7.1% of US car sales in January 2023, Tesla remains dominant but with decreasing market share“
- Electric vehicles (EVs) accounted for 7.1% of vehicle sales in January 2023, up from 4.3% in the same period last year.
- Of the total 87,708 battery-powered registrations, 57% were Tesla and the remaining 43% were non-Tesla brands such as Chevrolet, Ford and Volkswagen. But Tesla’s market share is down from 74% last year.
- Federal tax credits played an important role in EV sales. The $7,500 loan would require the vehicle to be manufactured in the United States and some of the battery materials to be sourced domestically, with price and income caps to keep the money from going to wealthy customers buying luxury cars.
- The most popular EVs in January were the Tesla Model Y and Model 3, both of which sold more than the previous year due to mid-January 2023 price cuts. The Chevrolet Bolt EUV, Volkswagen ID.4 and Ford Mustang Mach-E also made the top five most popular electric vehicles.
- Several states are aiming to phase out gas car sales by 2035, but this will require more charging infrastructure and improved range, especially in cold weather. Governments, car manufacturers and charging companies are working to meet these challenges.
“Kia Unveils Concept EV5, Giving a Glimpse of Its All-Electric SUV Launching in China Later This Year”
- Kia has unveiled its new Concept EV5 at Kia Chinese EV Day, which provides a preview of a production all-electric SUV model that will be launched first in China later this year.
- The all-electric SUV concept is inspired by Kia’s ‘Opposites United’ design philosophy, which celebrates the fusion of often seemingly contrasting visual influences of nature and modernity, and creates a unique SUV to support those pursuing a ‘borderless life’ where there is no boundary between their enjoyment and appreciation of nature and the city.
- The Concept EV5 exudes a progressive look from all angles with a new form of Digital Tiger Face and a futuristic flowing pattern provided by the digital lighting. The interior of the Concept EV5 provides the perfect environment for occupants to relax, with swivel seats that enable occupants to sit in tranquility, and a wide, full-length panoramic sunroof that also acts as solar panels.
- The completely flat floor and the generous space found within the cabin create a ‘space of coexistence,’ where nature, people and technology can come together in harmony, while a wide suite of sustainable materials is used throughout the cabin of the Concept EV5.
- The Concept EV5 is designed to inspire customers on every journey while providing sustainable and environmentally responsible solutions, and heralds a new design era for Kia and gives an intriguing glimpse into the aesthetic direction of the brand’s future fully electric models.
“Falling Prices of Battery Materials Boost Electric Vehicle Affordability“
- The prices of lithium, cobalt and copper – key materials in electric vehicle batteries – have fallen in recent months, making electric vehicles more affordable.
- Falling commodity prices will make it easier for automakers to lower EV prices, and some analysts predict prices will fall further, making EVs more affordable.
- Despite recent price drops, lithium is still very profitable, costing around $5,000 to $8,000 per ton to produce, but selling for ten times that price.
- Supplies of lithium and other critical materials are sufficient to meet demand, but the Biden administration is concerned about the national security implications of relying on China to refine most of these materials.
- Although advances in battery technology may reduce the need for lithium in the future, lithium will remain an integral part of electric vehicle batteries for the foreseeable future.