If $50,000 EVs still lose $6,000, when will EVs become profitable?

2022 Ford F-150 Lightning pre-productionLegacy 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...

Report: Mercedes pulls the plug on range-extended EV possibilities

2024 Mercedes-Benz EQSMercedes-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...

2024 Lucid Air Grand Touring adds heat pump, charges up to 30% faster

2024 Lucid Air Grand TouringThe 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...

2024 GMC Sierra EV boasts 440-mile range, CrabWalk, lower price

2024 GMC Sierra EV Denali Edition 1GMC confirmed on Tuesday that the limited-edition launch version of its 2024 Sierra EV pickup will arrive in summer 2024—with about 10% more EPA range than originally suggested. The full-size electric truck, touted to be the “Denali of EVs,” bears GMC’s top-luxury Denali badge and will offer a CrabWalk mode, unlike the...

Maserati reveals US-bound luxury electric convertible

2025 Maserati GranCabrio FolgoreThe 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...

Review: 2025 Hyundai Ioniq 5 N enthusiast EV shows it’s worth the wait

2025 Hyundai Ioniq 5 NThe good folks at Hyundai have scrambled my brain with the 2025 Ioniq 5 N, a devilish little electric compact crossover that might just be a motorsports game-changer. Most electric vehicles are a blast to drive in a straight line, with incredible acceleration and accessible power. But their weight becomes a liability on the race track, and battery...

2025 Mercedes-Benz eSprinter adds smaller battery, shorter wheelbase

2025 Mercedes-Benz eSprinterThe Mercedes-Benz eSprinter electric van debuted for the 2024 model year with a long 170-inch wheelbase, a large 113-kwh battery, and a high roof. For 2025, it adds a shorter 144-inch wheelbase, a smaller 81-kwh battery, and a shorter standard roof, the brand announced on Monday. In that configuration, the base price falls from $74,181 to $63,545...

Rivian EV route planning schools charging networks with grade system

Rivian R1T at Tesla SuperchargerRivian announced Monday that it will start planning routes around charger reliability in a new way—by grading each real-world charge site. With that change, as part of Rivian’s Software Update 2024.11.01, which rolls out to its vehicles, including the R1T electric pickup and R1S electric SUV starting today, route planning will start...

Report: China now makes enough batteries for global EV production

CATL Evogo battery swappingChina 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...

Half of 2024 EVs have lower 5-year ownership cost vs. ICE

2024 Volkswagen ID.4Many 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...