Latest news with #BEVs
Yahoo
7 days ago
- Automotive
- Yahoo
Thai vehicle sales rise 5% in June
Thailand's new vehicle market expanded by 5% to 50,079 units in June 2025, just up from the depressed year-earlier sales of 47,662 units, according to the latest wholesale data released by the Federation of Thai Industries (FTI). June was the third consecutive month of growth for the market, after two years of sharp declines, which have been blamed mainly on tight lending criteria by banks and auto finance companies in response to sharp rises in non-performing loans (NPLs). This has left the country's highly indebted consumers and small businesses struggling to access financing. Vehicle sales last year fell by 26% to a 15-year low of 572,675 units. Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Great Rates and Award-Winning Service The market last month continued to be driven by strong sales of battery electric vehicles (BEVs), mainly by Chinese automakers, as they continued to ramp up local production to compensate for their earlier imports under the Thai government's EV3.0 investment incentive programme. Sales of domestic pickup trucks continued to fall however. In the first half of 2025, the Thai vehicle market declined by just under 2% to 302,694 units from 308,027 units in the same period last year. Vehicle production in the country rose by 12% to 130,223 units in June, but was still down by almost 5% to 724,715 units in the first half of the year. Production for export fell by 8% to 475,013 units in the six-month period, reflecting sluggish overseas demand and rising global competition from Chinese automakers. The Thai government last month indicated it was considering introducing scrappage incentives to encourage owners to trade in their old pickup trucks for new ones. Earlier this year the government launched a THB 5 billion loan-guarantee programme, which runs until the end of the year, to support pickup truck purchases by small and medium-sized businesses. So far, this has not had a significant impact on pickup truck sales. The FTI recently revised down its full-year vehicle output forecast to 1.4 million units, from the 1.5 million forecast earlier in the year. "Thai vehicle sales rise 5% in June" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
New York Post
16-07-2025
- Automotive
- New York Post
Biden push for $10B electric mail delivery fleet flops with just 250 trucks built in two years
WASHINGTON — A Biden administration plan to create a 'green' fleet of postal vehicles has churned out just 250 electric mail trucks in just over two years — after shelling out taxpayer funds meant to build thousands — leaving Republicans raging at the multibillion-dollar 'boondoggle.' The nearly $10 billion project — which called for more than 35,000 battery-powered US Postal Service (USPS) vehicles to be completed by September 2028 — was funded in part by $3 billion in funding from former President Joe Biden's 2022 Inflation Reduction Act. As of this month, the project is well behind schedule despite taxpayers forking over $1.7 billion — prompting Capitol Hill Republicans to try to rescind the remaining nearly $1.3 billion earmarked from the IRA. 'Biden's multi-billion-dollar EV fleet for the USPS is lost in the mail and more than $1 billion is postmarked to order more,' Sen. Joni Ernst (R-Iowa) told The Post. 'I am working to cancel the order and return the money to the sender, the American people. The rescissions package is a great start, but Congress must keep its foot on the pedal and make DOGE a lifestyle by stamping out waste like this on a regular basis.' 6 A Biden administration plan to create a green fleet of postal vehicles has built only 250 electric mail trucks in more than two years, amounting to a multibillion-dollar 'boondoggle,' Republicans said. Business Wire The move comes after former Postmaster General Louis DeJoy stepped down earlier this year, passing off the agency's EV embarrassment to his successor, David Steiner, whose new job became official Monday. Wisconsin-based Oshkosh, a defense contractor, agreed to be paid $2.6 billion by the USPS to provide the 35,000 vehicles — but the Washington Post reported late last year that just 93 battery-powered electric vehicles (BEVs) were ready by November 2024, even though 3,000 were expected by that date. Oshkosh's mail truck production has struggled to clear a number of engineering hurdles, including issues with airbag calibration and during leak testing, which resulted in 'water [pouring] out as if [the vehicles'] oversize windows had been left open in a storm.' A senior executive at Oshkosh attempted to alert USPS about the production problems in 2022, but was blocked by their superiors. 'This is the bottom line: We don't know how to make a damn truck,' one person involved with the manufacturing process told the Washington Post. Michigan-based Morgan Olson, a previous contractual partner of USPS, had tried and failed to win the bid to produce the BEVs in February 2024. During a meeting between DeJoy, postal officials and Morgan Olson executives, the postmaster general lamented the status of 'a production plant in South Carolina,' apparently referring to the Oshkosh truck manufacturing facility, a source who attended the meeting revealed to The Post. 6 The nearly $10 billion project included $3 billion in funding from former President Joe Biden's 2022 Inflation Reduction Act to electrify the agency's fleet. Getty Images But DeJoy later added that he was 'in the parcel delivery business, not the vehicle manufacturing business,' the source continued. At the time, Oshkosh's Spartanburg factory could produce just one mail truck per day, with company records showing that they had expected to be producing upwards of 80 vehicles on a daily basis. The cost per truck to the defense contractor was pegged at $77.692 for 28,195 electric vehicles, according to The Washington Post. In December 2023, USPS put out a call for vehicle suppliers that could provide 'at least 12,000 battery-electric' mail trucks by October 2025, along with 'at least 1,500 internal combustion engine' trucks starting in October 2024. 6 A rep for Oshkosh referred comments to USPS but confirmed the manufacturer still has an active contract with the agency for electric vehicles. USPS OIG A rep for Oshkosh referred questions to USPS but confirmed the manufacturer still has an active contract with the agency for electric vehicles. 'Modernization of the Postal Service's delivery fleet is part of the organization's $40 billion investment strategy to upgrade and improve the USPS processing, transportation, and delivery networks,' a USPS spokesperson said. 'The Postal Service has placed orders for 51,500 next generation delivery vehicles (NGDVs), of which 35,000 are Battery Electric Vehicles (BEV). More than 1,000 NGDVs have been received to date, of which more than 250 are BEV,' the rep added. 'Additionally, the Postal Service has ordered 9,250 Ford E-Transit electric vehicles, of which nearly 8,000 have been received. Deployment continues to expand to sites across the country in accordance with the rollout of our new delivery network.' 6 Ex-Postmaster General Louis DeJoy admitted he was 'in the parcel delivery business, not the vehicle manufacturing business,' according to a source. AP 6 USPS's Grumman Long Life Vehicles are expensive to maintain, loud, fuel-inefficient, and have been known at times to burst into flame. CJ GUNTHER/EPA-EFE/Shutterstock The Biden administration had been committed USPS to acquiring '100% electric' postal vehicles starting in 2026, but it remains to be seen whether Republicans will withdraw the funding for the green fleet project. The transition of USPS vehicles to electric power from gas vehicles — a central pillar of Biden's environmental agenda — has been stalled almost from the outset. Expert estimates project that the broader set of environmental provisions included in the Inflation Reduction Act could cost taxpayers upwards of $1 trillion during the decade following the bill's passage. The new, predominantly electric vehicles are meant to replace the antiquated fleet of Grumman Long Life Vehicles, which date to 1987 and are expensive to maintain, loud, fuel-inefficient, and have been known at times to burst into flame. 6 The transition of USPS vehicles over to electric power from gas-powered vehicles — a central pillar of Biden's environmental agenda — has been at a near standstill from the outset. AP The miniscule number of vehicles that have been produced by Oshkosh are also a small fraction of the 60,000 total 'Next Generation Delivery Vehicles,' powered by a mix of battery-electric and other energy sources, that USPS is set to purchase from the firm. The Government Accountability Office, a non-partisan taxpayer accountability agency, identified USPS in a February 2025 report as having 'high risk' financial viability because the agency 'still cannot fully fund its current level of services and financial obligations.' In recent months, Trump has floated the possibility of merging USPS with the Department of Commerce, citing USPS losses of an astonishing $9.5 billion in fiscal year 2024. '[USPS has] been just a tremendous loser for this country, tremendous amounts of money they've lost,' the president told reporters in February. 'We want to have a post office that works well and doesn't lose massive amounts of money, and we're thinking about doing that, and will be a form of a merger, but it'll remain the Postal Service, and I think it'll operate a lot better than it has been over the years.' With the 250th anniversary of the founding of the United States Post Office by the Second Continental Congress approaching on July 26, the newly-appointed Steiner will inherit the tall task of modernizing USPS while its EV program continues to tread water.
Daily Mirror
12-07-2025
- Automotive
- Daily Mirror
Brits with EVs urged to charge their cars in specific place this weekend
Brits who own an electric vehicle (EV) have been advised to follow one rule when charging their cars in the coming days to protect their motor's battery health and charging speed Brits with electric vehicles (EVs) are being urged to follow one simple rule when charging their cars this weekend, or risk damaging their battery. There's no denying the UK EV market is booming, with 29,634 new Battery Electric Vehicles (BEVs) — cars powered entirely by the electricity stored in a battery, as apposed to hybrids, which also use petrol engines — sold in January 2025 alone, and one in three used EVs now being available for under £20,000. This surge in new and used EVs means more drivers than ever are plugging in and making the switchover to greener motoring. As the EV revolution accelerates, experts are keen to ensure drivers get the most from their motors, particularly as the summer season brings fresh challenges for charging and battery care. Richard Evans, head of technical services at webuyanycar, has therefore shared some essential advice for EV owners about charging this weekend. The expert pointed out that the temperature of the location where you charge your car can make a big difference, stating: "On hot days, heat can slow your EV's charging or damage the battery if not properly managed. "This applies to temperatures above 30°C. Optimal charge temperature is 15 to 25°C." This advice isn't just relevant during heatwaves, as freezing temperatures can also trouble the efficiency of charging an EV's battery. Richard added: "Cold weather can also have the same effect as heat, resulting in a slower charge. During the summer months, it's best to charge your car in the shade and avoid fast charging repeatedly to reduce extra strain on the battery." This advice comes at a crucial time, as forecasters predict that the UK is set for a spell of unusually high temperatures this weekend, continuing into next week. The Met Office announced another incoming heatwave, with conditions set to remain sweltering for some time. This Friday — July 11 — is predicted to be the hottest day of the scorching run, with the mercury likely topping out at 32°C across the southeast of England and parts of the east coast. But nearly everywhere in the UK, including vast areas of Scotland, Wales and Ireland will see an extended spell of extreme heat. So as Britains gear themselves up for another heatwave, EV owners are being urged to seek out shaded spots or covered charging bays, whether at home or at public stations. By following expert advice and charging in the right place, drivers can protect their batteries, ensure reliable performance, and make the most of their EVs as the temperatures rise.
Daily Mirror
11-07-2025
- Automotive
- Daily Mirror
Best day and time to charge your EV and save money with 'plunge pricing'
Brits driving electric vehicles (EVs) have been urged to charge their cars at specific times of the day and slash costs with a little-known tool known as 'plunge pricing' An expert has revealed when UK motorists should charge their electric vehicles (EVs) to secure significant savings. The EV market in the UK is growing rapidly, with 29,634 new Battery Electric Vehicles (BEVs) sold in January 2025 alone. The distinction between an EV and a BEV is exactly as it sounds — BEVs are solely powered by electricity stored in a battery, with no other power source, while plug-in hybrids (PHEVs), for example, also have petrol engines. The used market is also becoming more accessible, with one in three used EVs now available for under £20,000, opening up electric motoring to a wider range of drivers than ever before. As more people make the switchover to electric, understanding how to save money on charging becomes increasingly important. Richard Evans, head of technical services at webuyanycar, explained that the timing of your charging sessions plays a crucial role in cutting costs. He advises that EV owners pay less during off‑peak hours — roughly 1.30 am to 6.30 am during the summer and spring, or 12.30 am to 5.30 am during the autumn and winter. He advised that these are 'consistently the cheapest times to charge your car, especially with EV‑focused tariffs' and that utilising them can 'nearly halve your per-mile cost'. The expert continued: "Companies such as Next, Octopus Go, EDF and GoElectric offer off-peak rates as low as 6.7p to 9p per kWh, which can nearly halve your per‑mile cost." Richard's advice is backed by the latest tariffs available from major suppliers. For example, Next Drive offers a fixed off-peak rate of 6.7p per kWh between midnight and 7 am, and EDF 's GoElectric Overnight tariff delivers a 9p per kWh rate for five hours each night. Octopus Go also provides a rate of 8.5p per kWh from 12.30 am to 5.30 am, while Intelligent Octopus Go has rates as low as 7p per kWh for compatible vehicles and chargers. These off-peak rates are significantly lower than standard daytime rates — according to insurance experts over at WeCovr. The average cost of on-peak home EV charging is around 27.43p per kWh — making overnight charging the most cost-effective option for the majority of EV owners. Beyond these regular off-peak savings, the expert highlighted another opportunity for even greater reductions in EV charging costs — 'plunge pricing'. As Richard explained: "Some energy companies will also offer 'plunge pricing', which is a special discount on public charging when energy supply is extra high. This allows EV drivers to choose which day to charge their car based on when they know there will be cheaper energy prices. Typically, plunge pricing offers are mid-week from Tuesday to Thursday." What is plunge pricing? Plunge pricing is triggered by a surplus of renewable energy on the grid, often due to high wind or solar generation and low demand. During these periods, companies notify their customers of special events where charging rates can be massively discounted — in exceptional circumstances, EV drivers could even be paid to charge their vehicles. Octopus Energy released a statement last year reading: "Electric car drivers in Britain can benefit from cheaper public charging when green energy is abundant thanks to a groundbreaking innovation from Octopus Electroverse. 'Plunge Pricing' events happen when cheap renewable generation is high and demand is low, so wholesale electricity prices fall. Drivers using Octopus' Electroverse get discounts for taking excess energy off the grid at these sunny and windy times. "Electroverse has so far trialled five of these events at over 7,500 charge points across brands like IONITY, Osprey, Blink, GeniePoint and Raw. Discounts to date have ranged from 15 per cent to 45 per cent per kWh. There is even potential in the future for drivers to get paid to charge up their car when wholesale prices go negative." Notifications for upcoming plunge pricing events are generally sent out via apps like Octopus Electroverse, giving EV drivers direct access to discounted rates at over 700,000 public chargers across the UK and Europe.
Yahoo
10-07-2025
- Automotive
- Yahoo
South Korea imports rise 10% in June
Sales of imported light passenger vehicles in South Korea rose by almost 10% to 27,779 units in June 2025 compared with 25,300 units a year earlier, according to registration data released by the Korea Automobile Importers & Distributors Association (KAIDA). The association attributed last month's strong market performance to improved availability of new models, particularly electrified models such as battery-electric vehicles (BEVs) and hybrids, following inventory shortages earlier in the year. While import sales in the first half of 2025 increased by 10% to 138,120 units, from 125,652 units a year earlier, overall demand for new vehicles in South Korea remains sluggish – reflecting weak domestic economic growth and high consumer debt. Domestic sales of vehicles produced by the five main local manufacturers rose by less than 3% to 687,932 units in the six-month period, underpinned mainly by new models from Hyundai and Kia. German-owned brands accounted for almost 64% of total import sales year-to-date, with some 88,000 units combined, led by BMW with a 9% rise to 38,280 units, while its Mini subsidiary saw its sales plunge by over 21% to 3,418 units. Together, the two brands accounted for 30% of total imports. Mercedes-Benz saw its first-half sales rise by 8.5% to 32,575 units, while Volkswagen Group reported a 32% jump to 13,680 units, thanks mainly to strong rebounds by Porsche and Audi. US EV maker Tesla saw its sales rise by over 10% to 19,212 units year-to-date, while Volvo's sales declined by 6% to 6,767 units. Toyota's deliveries fell by less than 1% to 4,500 units, while its Lexus division enjoyed an 18% rise to 7,594 units. Chinese automaker BYD, which officially entered the market earlier this year, has delivered 1,286 vehicles so far. The company said it aims to have 30 sales outlets operational by the end of the year. "South Korea imports rise 10% in June" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
