Legacy automakers are still losing thousands of dollars on many EV sales, according to newly published analysis from the Boston Consulting Group. BCG estimates that most automakers lose around $6,000 on each EV they effectively sell for $50,000, that price accounting for any tax credits or other incentives the customer might be eligible for... If $50,000 EVs still lose $6,000, when will EVs become profitable?
Legacy automakers are still losing thousands of dollars on many EV sales, according to newly published analysis from the Boston Consulting Group. BCG estimates that most automakers lose around $6,000 on each EV they effectively sell for $50,000, that price accounting for any tax credits or other incentives the customer might be eligible for... 
Mercedes-Benz is scrapping extended-range EV powertrains after tests of prototypes, according to an Autocar report citing an anonymous source with knowledge of the matter. Mercedes built and tested some prototypes based on existing models, "concluded that the range-extender drivetrain is a transitional technology with a relatively short-term... 
The 2024 Lucid Air Grand Touring—the longest-range version of the Air luxury sedan—gets some small but notable changes for the current model year, Lucid announced Wednesday in a press release. The Grand Touring is the second Air model to get a heat pump, after the high-performance Sapphire. As previously shown in other EVs, a heat pump... 
The Maserati GranTurismo Folgore is getting a convertible sibling that will create a new EV market niche in the U.S. Unveiled Monday, the Maserati GranCabrio Folgore is scheduled to arrive in the U.S. in the fourth quarter, as a 2025 model, with a price tag of more than $200,000 that will likely make it the first true luxury electric convertible... 
China already has enough battery manufacturing capacity to supply all global EV production, according to Bloomberg New Energy Finance. BNEF estimates to global battery-cell demand for both EVs and energy storage came in at around 950 gigawatt-hours in 2023—but manufacturing capacity was more than twice that, at around 2,600 gigawatt-hours... 
Many EVs have a lower five-year cost of ownership than comparable gasoline models, according an annual roundup from Vincentric, a source for ownership cost calculations for websites and automakers. Vincentric's analysis covers eight factors: depreciation, fees and taxes, financing, fuel cost, insurance, maintenance, opportunity cost and repairs... 
American EV ownership is growing, but fewer car shoppers who don't already own an EV are considering one, according to a new Gallup poll. Of those households surveyed, 7% reported owning an EV, up from 4% a year ago, while a steady 16% of Americans over the past few years indicated that they are "EV consumers," which Gallup defines as those who... 
EVs could end up using a lot of electricity, but efficiency improvements to support them could significantly reduce the need for new grid infrastructure, cut energy usage, and potentially save consumers billions of dollars, according to a new study from research firm EPRI and the Natural Resources Defense Council (NRDC). By 2050, charging of... 
Sales of expensive full-size pickup trucks from the Detroit Three automakers fell in the first quarter of 2024 which, as a Bloomberg report explains, could negatively impact those automakers' EV plans. Ford, General Motors, and Stellantis have been cashing in on high-end versions of full-size pickups, piling on features like bigger touchscreens... 
The 2025 Mercedes-Benz EQS electric sedan gets a number of updates for its third model year. The refreshed EV arrives at U.S. dealerships later this year, with pricing to be revealed closer to that time. A new 118.0-kwh battery pack for all models represents a 9% increase from the 108.4 kwh usable capacity in current models. Mercedes promises...