Tech

Report finds demand for EVs now drastically outstripping supply

Published

2 years ago

May 16, 2022

Many consumers are ready to make the switch to an electric car, but supply remains a big issue

As global oil prices continue to surge and motorists feel the pinch at the bowser, many are considering switching to an electric car.

But a report by the Electric Vehicle Council says demand for EVs is now drastically outstripping supply.

Many consumers who want to purchase an electric car are being warned of wait times exceeding months, even years, as the supply chain crisis intensifies.

It follows global shortages of EVs together with manufacturing issues such as factory closures in China.

The latest State of Electric Vehicles report by the EVC notes that demand for EVs in countries like Australia, now drastically outstrips supply – “due to Australia still being perceived by global carmakers as an unattractive market.”

For those wondering why we want fuel efficiency standards AKA CO2 standards:
"With CO2 standards, we create clarity for the car industry and stimulate innovation and investments for car manufacturers"https://t.co/5N5CFKl88A
— Electric Vehicle Council of Australia (@EVCouncil) May 13, 2022

The report noted that car companies like Tesla are favouring the UK and US markets due to “fuel efficiency standards” – something Australia, for example, refuses to implement.

Low stock levels is resulting in more consumers being forced to purchase a hybrid car, a vehicle that is powered by both fuel and electricity, according to the Electric Vehicle Council.

Shows

Is GenerativeAI transforming education?

Published

3 days ago

May 3, 2024

ticker NEWS

Educators today are facing an uphill battle, so what’s the solution?

Today’s educators are passionate, but they’re up against diverse classrooms and outdated teaching methods.

In this episode, Trevor Furness, Chief Revenue Officer of Octopus B-I discuss their efforts to transform education. #funding futures

News

How AI is leveraging Amazon’s fast production

Published

4 days ago

May 2, 2024

Nathan Langridge

Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates.

Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates, driven by strong performance in its cloud computing and AI.

Ticker’s Ahron Young & Veronica Dudo discuss.

Tech

Tesla is slashing prices to stay competitive

Published

2 weeks ago

April 21, 2024

Reuters

Tesla cut the U.S. prices of its Model Y, Model X and Model S vehicles by $2,000 each, days after the first-quarter deliveries of the world’s most valuable automaker missed market expectations.

Elon Musk’s electric-vehicle (EV) maker lowered the prices for its Model Y base variant to $42,990, while the long-range and performance variants are now priced at $47,990 and $51,490, respectively, according to its website.

The basic version of the Model S now costs $72,990 and its plaid variant $87,990. The Model X base variant now costs $77,990 and its plaid variant is priced at $92,900.

Tesla North America also said in a post on X said it would end its referral program benefits in all markets after April 30.

Referral program allows buyers to get extra incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales.

Musk has postponed a planned trip to India where he was to meet Prime Minister Narendra Modi and announce plans to enter the South Asian market, Reuters reported on Saturday.

On Monday Reuters reported, citing an internal memo, that the EV maker was laying off more than 10% of its global workforce.

Earlier this month Reuters reported the EV maker had canceled a long-promised inexpensive car, expected to cost $25,000, that investors had been counting on to drive mass-market growth.

The EV maker reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years, as price cuts failed to stir demand.

Tesla is to report first-quarter earnings on Tuesday.