The Weekly Round Up - EV News for June
Bringing you the EV news dominating the headlines in June.
Welcome to BookMyGarage’s EV Hub Weekly Round-Up, where we bring you the EV news that is dominating the headlines this week. With only the essential details about the week’s biggest news articles, we aim to keep you in the loop with all things EV.
June 4th
Hyundai US EV Sales up 24% in May
The Korean automaker announced that their EVs, hybrids, and plug-in hybrids sales had increased by 50% year-over-year, with all electric models seeing a 42% increase in comparison to May 2023.
May 2024 was the best month to date for Ioniq 5 Crossover sales – 4,449 units were sold, which was an 82% increase year-over-year. The Ioniq 6 was also up by 13%.
"We continue seeing great success in our eco-friendly line-up with an overall 50% increase year-over-year," Randy Parker, CEO of Hyundai Motor America, said.
"Both EVs and hybrids continue to gain popularity with Hyundai’s newest HEV, the 2024 Santa Fe gaining 116% YOY and our award-winning IONIQ 5 family increasing 82%. We’re proud to also announce Hyundai has America's Most Awarded EV Lineup in the industry."
18 Sussex Streets Plan To Get EV Charging Points
The streets have been selected for several reasons, including requests from local EV drivers, limited off-road parking, and a lack of nearby public chargers.
The proposed locations are as follows:
- Keymer Road, Hassocks
- Slimbridge Road, Burgess Hill
- Northlands Avenue, near Walstead
- Paddockhall Road, Haywards Heath
- Hamsland, Horsted Keynes, near Lindfield
- St Leonard's Road, Horsham
- Cambridge Road, Horsham
- Devonshire Road, Horsham
- Manor Road, Horsham
- Rillside, Crawley
- Gainsborough Road, Crawley
- Tilgate Parade, Crawley
- Ashdown Drive, Crawley
- Whittington Road, Crawley
- Buckswood Drive, Crawley
- Cuckmere Crescent, Crawley
- Tangmere Road, Crawley
- Langley Drive, Crawley
Councillor Joy Dennis, West Sussex County Council cabinet member for highways and transport, said: "We know in the coming years more and more people will be making the move towards electric vehicles.
"So, it’s important to act now to ensure we’re able to support our residents with charging facilities, particularly in areas where people need to park in the street.
"Residents without electric vehicles will still be able to park as normal as there will be no changes to parking restrictions initially.
"Any possible changes to this approach in the future will go through a further consultation process."
Renault Teams Up with Chinese Partner for Twingo EV
Renault’s CEO confirmed the brand is looking to create the new generation of the Twingo, which would be inexpensive and accessible.
The development of cheaper electric models has been a focus for many automakers as EV sales dip due to the cost of living. Many legacy carmakers are also facing pressure from Chinese entities, as they have advanced EV technology and strictly controlled supply chains to deliver cheaper models.
According to a statement given to AutoNews, Renault will develop the car on Chinese soil, and the styling and advanced engineering will take place in France. Production will happen in Europe – most likely at the plant in Slovenia which currently manufactures the Twingo.
June 11th
Calls for Strategy To Boost Electric Vehicle Sales
The SMMT represents more than 800 automotive companies in the UK across production, sales, and supply chain.
Trevor Leeks, operation manager for Jaguar Land Rover in Merseyside, said that the infrastructure needs to improve.
Lee Meyers, the plant manager for in Halewood has stated that half the site was being updated to make electric vehicles, but more customer incentives were needed.
"Global manufacturers have invested massive sums, transforming their plants to electric vehicle production, which is testament to the competitiveness and productivity of the Northwest," said Mike Hawes, SMMT chief executive.
"No region can rest on its laurels in such a globally competitive environment, however, which is why this event will focus on the measures needed to attract further investment and create new business opportunities.”
Jaguar, which employs 3,500 at Halewood, said it had committed to spending £15 billion globally on the switch to electric.
Jeep to Enter the EV Race
American automaker Jeep have announced its first fully electric vehicle for the US market.
The Wagoneer S will start from $72,000 for the launch edition. Jeep plan to release more affordable and more luxury editions in the future.
The EV has two electric motors that produce 600 horsepower, and it goes from 0 to 60 mph in just 3.4 seconds. It also has a range of more than 300 miles.
The brand introduced the compact Avenger EV in Europe, but the Wagoneer S will be the US and Canadian’s markets first entry.
Jeep has a trademark seven-slot grille to keep the huge combustion engine cool – since this is not needed on the EV model, it has been replaced by lights that illuminate at night.
The Wagoneer S has a sleeker, more aerodynamic look, and has been designed to gauge customer interest in a fully electric Jeep model.
EU is expected to impose import tariffs on Chinese EVs
A lengthy investigation into China’s state subsidies for its car manufacturing is predicted to conclude that massive support continues to be focused on the EV sector.
The European Commissions president, Ursula von der Leyden, warned that “the world cannot absorb China’s surplus production,” after meeting with the Chinese president, Xi Jingping.
The anti-subsidy investigation launched in October 2023, due to suspicions that China was flooding the EU with cheaper EVs due to overcapacity and dampened domestic consumer demand. It is one of dozens of inquiries into Chinese state aid.
It has been predicted that Xi will not waver from the national bet he has made to dominate the green tech sector around the world through EVs, solar panels, and EV batteries.
If imposed, the tariffs would involve three tiers.
Chinese manufacturers are already bracing themselves for import duties. Experts expect that Beijing will retaliate with countermeasures that could hit a range of EU exports to the country, ranging from cognac to dairy products.
June 18th
Labour Pledges to Restore 2030 ICE Ban
It was previously announced that the sale of all brand new ICE vehicles would be banned by 2030, but in September last year current Prime Minister Rishi Sunak announced they were pushing the ban back to 2035, in order to avoid losing ‘the consent of the British people’.
Labour hopes the restoration of the original date will help speed up the transition to electric vehicles to meet the goal of net zero by 2050.
The date rollback would be supported by increased charge point installation and support for drivers buying second hand electric vehicles.
Labour have also pledged to support drivers by tackling soaring car insurance costs, as well as fixing an additional one million potholes a year across the country.
The RAC have stated their approval with Labour’s plans. Head of Policy for the RAC Simon Williams said: ‘However, it remains the case that electric vehicles are still far too expensive for a majority of drivers. The next government has a great opportunity to stimulate demand by reintroducing a Plug-in Car Grant aimed at the cheaper end of the market. This would make zero-emission driving a possibility for far more people.’
Europe Prepares for China Retaliation after EU EV Tariffs Announced
It is predicted that China will retaliate to EU EV tariffs by increasing duties on products such as European pork and dairy products, brandy, and luxury goods.
The EU recently announced they will be applying tariffs of up to 38.1% on Chinese EVs, to curb the flood of Chinese electric vehicle imports, which are posing a threat to European EV manufacturers.
The main Chinese automakers likely to be most impacted by the tariffs are Geely, BYD, and SAIC.
A significant portion of the EVs imported into China come from companies such as BMW and Tesla, which have set up factories on Chinese soil, as a ploy to take advantage of cheaper production costs and subsidies, so that they can offer their vehicles at competitive prices.
If China retaliates, we could be facing an EU-China trade war. China have already asked the EU to reconsider and has said it would be doing everything in its power ‘to protect its on interests and car makers’, should these increases be introduced.
Chinese foreign ministry spokesperson, Lin Jian, said: ‘We urge the EU to listen carefully to the objective and rational voices from all walks of life, immediately correct its wrong practices, stop politicising economic and trade issues, and properly handle economic and trade frictions through dialogue and consultation.’
Second-hand US EV Prices Plummet Below ICE Cars, According to Analysis
According to analysis by iSeeCars, EV prices have dropped by 30-39% in the past year. The study analysed 2.2million one-to-five-year-old used car’s prices, and found the mammoth drop in EV’s prices, while ICE vehicles have dropped 3-7% over the past year.
The analysis provided several reasons for the sudden plummet. iSeeCars believes that consumer perception is a leading factor, with the EV Market currently being larger than ever before. With more availability of EVs on the second-hand market, they can be sold at lower prices.
Battery technology and depreciation also comes into play, and Tesla’s price war have also had an impact on second hand EV prices.
Karl Brauer, executive analyst at iSeeCars, have noted that electric power has become a detractor for consumers. He said, ‘It's clear that used car shoppers will no longer pay a premium for electric vehicles.’
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