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Electric Vehicles

According to Edmunds, American car shoppers are researching Tesla vehicles more frequently following Tesla's recent price cut announcement. Edmunds data shows that on-site shopper consideration of Tesla vehicle pages jumped to 4% of all researched brands, compared to 1.9% the week prior. The Tesla Model Y became the second most researched vehicle on Edmunds, and the Model 3 moved up 36 spots to become the 11th most researched vehicle.

Edmunds' analysts believe that the price cuts, combined with immediate availability, will help Tesla gain market share and attract consumers despite its aging lineup. Additionally, Edmunds data revealed that Tesla appraisals through Edmunds' free online appraisal tool more than tripled in volume, climbing to 3.1% of all vehicles, compared to 0.8% the day prior.  Edmunds attributes this increase

In Other EV News

-GM and LG Energy Solution have halted plans to build a fourth battery factory in the US through their 50-50 joint venture, Ultium Cells.

-ABB E-mobility, a leader in EV charging infrastructure, has announced that production of EV chargers has started at its recently-opened manufacturing operations in Columbia, SC (Go Gamecocks).

-The Inflation Reduction Act signed by President Biden, offers a credit equal to 30% of the sale price (up to $4,000) for used EVs that meet certain criteria. Here are all of the EVs that qualify.

-Harley-Davidson CEO Jochen Zeitz has announced that the company is planning to phase out ICE powered motorcycles and will slowly transform into an all-electric brand.

-REV Fire Group has partnered with Daytona International Speedway to provide four firefighting trucks to the track ahead of the 2023 Rolex 24 Hours of Daytona and Daytona 500 including one electric model called the Vector. The Vector is the “first North American-style fully electric fire truck”, with 327-kWh batteries that can both drive the truck and power the water pumps. 

-Volta Inc. announced that Shell USA Inc. will acquire Volta in an all-cash transaction valued at approximately $169 million. The transaction brings Volta's dual charging and media network to Shell's established brand and seeks to grow Shell’s presence in electric vehicle charging. 

-Hertz Electrifies is launching in Denver, CO. Through the initiative, Hertz aims to bring up to 5,200 rental EVs to Denver, increase charging capacity, support the installation of publicly accessible EV chargers, share telematics from its fleet of connected cars, offer summer job opportunities, and provide electric vehicles, tools, and training to a technical high school.

-Chinese technology giant Xiaomi has been spotted testing an upcoming EV in snowy conditions in China.

-NC has exceeded 50,000 EV registrations. Through October, 51,500 plug-in vehicles were registered in the state.

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