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☆ 3 reasons why electric cars will soon get a lot cheaper
▼ + stars: | 2023-11-23 | by ( Tom Carter | ) www.businessinsider.com time to read: +7 min

Some automakers are slowing down EV production, saying electric vehicles are too expensive. Auto execs have pointed to high prices as a big reason why demand for electric cars has slumped this year. AdvertisementHere's three reasons why electric cars are getting more affordable. Cheaper battery packsBy far the most expensive part of any EV is the battery, and spiking battery prices have hit automakers hard. "You have to get to a certain scale to really start to make money on electric cars and for the costs to go down," Valdez Streaty said.

Persons: —, Kelley, Tesla, Goldman Sachs, EVs, David Browne, Patrick T, Fallon, Browne, Matthias Preindl, Stephanie Valdez Streaty, it's, Valdez Streaty, Elon, you've Organizations: Service, Ford, General Motors, EV, Atlas Public, EVs, Bloomberg, Department of Energy, Smart, Toyota, Manufacturers, ICE, Columbia University, Smith, Cox, Chicago Tribune, Getty Locations: China, Germany, Los Angeles

Electric vehicles drove that change. In the first quarter of 2023, Russians purchased more Chinese cars than Lada, the beloved Soviet-era marque. That helps Chinese manufacturers churn out an electric vehicle for around 10,000 euros less than European competitors, according to Grant Thornton. Among the growing list of unwelcoming policies, the European Commission’s trade defence unit is considering ways to stem the tide of Chinese electric vehicle imports, according to Politico. How far China’s carmakers can make inroads further West will be decided by much more than assessments of their competency.

Persons: Bill Russo, Nio, Grant Thornton, Bernstein, Emmanuel Macron, CATL, Una Galani, Thomas Shum Organizations: Reuters, HK, Volkswagen, World Trade Organization, International Energy Agency, Global Times, Beijing, Lada, Chery, Amperex Technology, Politico, Ford Motor, Toyota, Nissan, Twitter, Thomson Locations: HONG KONG, BYD, People’s Republic, Europe, China, Shanghai, Hong Kong, New York, Japan, London ., European, United States, North America, France, Thailand, West

☆ A pledge to fight climate change is sending money to strange places
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +10 min

That failure has helped keep climate finance at the top of the agenda at annual U.N. climate conferences, such as last year’s COP27, held in Sharm el-Sheikh, Egypt. Some officials from potential recipient countries say that, before more money starts to flow, clearer definitions of what qualifies as climate finance and more transparency in reporting contributions are needed. A SIMEST official said that the agency’s work is not focused on climate change and that it is not involved in Italy's climate finance reporting. Source: Reuters analysis of climate finance data nations reported to the U.N. Japan’s foreign ministry, not JICA, is responsible for reporting climate finance to the U.N., Takeda said.

Persons: COP27, Matthew Samuda, Venchi, hasn’t, Fred Béliard, Nicolas Fierens Gevaert, Mohammad Hossain, Sachiko Takeda, Takeda, Hiroshi Onuma, Matarbari, “, ” Organizations: Jamaica's Ministry of Economic, Reuters, Italy's Ministry of Environment and Energy Security, United, Marriott, Fatima Group, U.S . State Department, Roja, French Development Agency, U.S, Power Cell, Japan International Cooperation Agency, Japan’s Ministry of Foreign Affairs Locations: Paris, Sharm el, Sheikh, Egypt, Dubai, Jamaica's, Japan, China, Indonesia, Asia, SIMEST, Italy, United States, Haitien, Haiti, Marriott, U.S, Belgium, Argentina, France, Mexico, Kenya, South Africa, Bangladesh, San Francisco, Germany, “ Japan

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