News

EV demand wanes amid high rates, material costs

Published

2 years ago

October 26, 2023

Despite electric vehicle (EV) sales continuing to grow, there are mounting concerns about slowing demand for electric vehicles.

High-interest rates have thrown a wrench into the ambitious plans of climate regulators and automakers to accelerate the transition to electric vehicles. This concern was underscored on Wednesday by the abrupt termination of a GM-Honda partnership and a warning issued by a battery manufacturer.

Electric vehicle sales are still on the rise, but they are failing to keep up with the expectations of car manufacturers and other companies that have poured billions of dollars into the EV sector. The anticipation of persistently high-interest rates has led companies to rethink their strategies as they cautiously approach the year 2024.

Lee Chang-sil, the Chief Financial Officer at South Korean battery maker LG Energy Solution (373220.KS), expressed concerns on Wednesday, stating that EV demand for the upcoming year may fall short of expectations due to global economic uncertainties.

Lower cost EV

On the same day, Honda (7267.T) and General Motors (GM.N) announced the abandonment of their $5 billion joint venture aimed at developing lower-cost EVs, just one year after the initiative was revealed. GM also stated that it would focus its short-term EV efforts on meeting demand rather than pursuing specific volume targets.

GM CEO Mary Barra told analysts, “We’re taking immediate steps to enhance the profitability of our EV portfolio and adjust to slowing near-term growth.”

Investors have reacted to this shift in the outlook. Over the past three months, the iShares Self-Driving EV and Tech exchange-traded fund has witnessed a more than 24% decline, significantly greater than the 8.3% drop seen in the MSCI All-World Index (.MIWD00000PUS), a representation of global equities.

Despite the concerns, EV sales are still growing. In the third quarter, EV sales surpassed 300,000 units in the United States for the first time, according to a Cox Automotive report. In September, they rose by 14.3% in the European Union and 22% in China, the world’s largest EV market.

Elon Musk, CEO of Tesla (TSLA.O), raised concerns last week regarding the impact of the high-interest rate environment on car purchases. During Tesla’s earnings conference call, Musk stated, “I am worried about the high interest rate environment that we’re in. The vast majority of people buying a car consider the monthly payment. If interest rates remain high or increase further, it becomes that much harder for people to buy a car.”

News

Greenland says “No” to U.S. takeover — Chooses Denmark in geopolitical showdown

Greenland’s PM chooses Denmark over U.S. amid Trump’s controversy over Arctic control, emphasizing sovereignty and local sentiment.

Published

8 hours ago

January 14, 2026

Harvey Vargas

Greenland’s PM chooses Denmark over U.S. amid Trump’s controversy over Arctic control, emphasizing sovereignty and local sentiment.

Greenland’s Prime Minister Jens‑Frederik Nielsen has delivered a clear message amid renewed pressure from the U.S. — if forced to choose between the United States and Denmark, Greenland will pick Denmark, NATO, and the EU.

Nielsen made the declaration in Copenhagen alongside Danish Prime Minister Mette Frederiksen ahead of diplomatic talks with top U.S. officials.

The announcement comes as U.S. President Donald Trump has again stoked controversy by suggesting Washington could pursue ownership or control of Greenland, citing strategic interests in the Arctic. European leaders and Greenlandic officials have pushed back strongly against these ideas, emphasising sovereignty and respect for international law.

This standoff places Greenland’s future in the spotlight — as Copenhagen and Nuuk reaffirm their ties, local sentiment remains overwhelmingly opposed to U.S. annexation and supportive of Greenland’s own path forward.

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#Greenland #Trump #Denmark #ArcticPolitics #NATO #Geopolitics #InternationalRelations

News

Trump promises aid amid Iran unrest

Trump urges Americans in Iran to evacuate amidst escalating protests and vows support for protesters seeking freedom.

Published

8 hours ago

January 14, 2026

Harvey Vargas

Trump urges Americans in Iran to evacuate amidst escalating protests and vows support for protesters seeking freedom.

President Trump has called on Americans in Iran to evacuate as tensions escalate following the government’s violent crackdown on antigovernment protesters. He has ruled out negotiations and encouraged protesters to continue their efforts, hinting that aid could be on the way.

The unrest in Iran has reportedly resulted in over 2,000 deaths, including both protesters and security forces. U.S. officials are reportedly weighing various responses, from sanctions to potential military options, though no immediate action has been confirmed.

Trump delivered a direct message to the people of Iran, emphasising support for their push for freedom and safety amid the growing crisis.

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#IranProtests #Trump #USPolitics #MiddleEastCrisis #HumanRights #EvacuationAlert #GlobalNews #TickerNews

News

Trump escalates pressure on the Federal Reserve with Powell probe

Trump administration investigates Fed Chair Powell, raising concerns over political pressure on monetary policy and economic stability.

Published

1 day ago

January 13, 2026

Harvey Vargas

Trump administration investigates Fed Chair Powell, raising concerns over political pressure on monetary policy and economic stability.

The Trump administration has launched a criminal investigation into Federal Reserve Chair Jerome Powell, dramatically escalating tensions between the White House and the central bank.

The probe centres on Powell’s testimony over a controversial renovation of the Federal Reserve’s headquarters, raising alarm over whether political pressure is being applied to monetary policy decisions.

The move has sparked fierce debate in Washington, with critics warning it could undermine investor confidence and destabilise economic expectations.

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#FederalReserve #JeromePowell #DonaldTrump #USPolitics #MonetaryPolicy #Markets #Inflation #TickerNews