In the automotive industry, EV news is front-page news every day. Battery-powered electric vehicles continue to be under development with the occasional release. Yet, EV adoption is still slow, with less than 2 percent of new vehicle sales comprised of electric models. It’s important to note, however, that EV adoption is taking off like never before.
In the past months, there have been big developments, both in news and with model releases, in the EV industry. And make no mistake – carmakers and legislators are continuously putting on the full court press with electric cars.
New Tesla Factory in China
Tesla has announced that they’ve struck a deal to produce EVs in China. A manufacturing plant will be built in Shanghai province and is expected to produce up to 500,000 units per year. It’s currently planned to be the only plant aside from the home base in California, and in a country that’s a hotbed for electric vehicles.
But the new factory isn’t the only news from the most prominent – but not the best-selling – EV maker in the world. Achieving the target of 5,000 Model 3’s per week has been nearly impossible to achieve, requiring a tent erected on site for an added production line. Elon Musk’s company continues to burn through cash at an alarming rate, losing $785 million in the first quarter of 2018 alone.
Jaguar has just released a high-performance all-electric SUV, the Jaguar I-PACE. After a long courting period, the I-PACE arrived on the market with virtually none of the problems that plague other EV carmakers – at least, not publicly.