Category: Electric Automobile

Volvo launched its first fully electric car on Tuesday.

By Miguel Ángel Moreno Ramos and Jeevan Ravindran 

• Volvo announced on Tuesday that it would go fully electric by 2030 and 50% electric by 2025. 
• To celebrate the plan, the company also launched the C40 Recharge, its first fully electric car. 
• “There is no long-term future for cars with an internal combustion engine,” said CTO Henrik Green.

Volvo announced on Tuesday that it would become a “fully electric” manufacturer by 2030.

The Swedish company plans to launch a series of electric vehicles over the coming years but they will only be available for purchase online.

Continue reading… “Volvo plans to sell only electric cars by 2030, seeing ‘no future’ for internal combustion engines”

By Micah Toll 

Arcimoto’s market capitalization recently crossed the $1 billion threshold, making the three-wheeled electric vehicle company the newest member of the unicorn club.

Late last year, it looked like the sky was the limit for Arcimoto, which trades on the NASDAQ as FUV. 

Now it seems like the company has blown right through the sky and is headed for the moon.

Less than a year ago Arcimoto’s share price had dipped below $1. Yesterday it closed at $31.12.

While the entire market has shown impressive growth since bottoming out early in the COVID-19 pandemic, Arcimoto’s share price has grown 1,658% in the last 12 months.

With a current market cap of $1.23 billion as of market close yesterday, Arcimoto is gaining the attention of several well-known investors and EV bulls.

As the Portland Business Journal reported, new support from investor Ross Gerber has likely helped fuel the most recent growth in the company’s valuation.

Continue reading… “US-based ‘Tesla lite’ 3-wheeled electric vehicle startup passes $1B market cap”

By Fred Lambert 

Aptera, a startup aiming to bring to market a solar- and battery-powered electric car with “up to 1,000 miles” of range, received $4 million in backing and more than 7,000 preorders.

This is Aptera’s second go. The company was created in 2006 with the aim of bringing to market a super-efficient three-wheeled vehicle.

Unfortunately, the project didn’t work out, but the original founders recently decided to revisit the project after having launched a different successful company in the electrification space.

Last year, Aptera relaunched with the unveiling of a new updated battery- and solar-powered version of its super-efficient three-wheeler design.

It claims a range of up to 1,000 miles and achieves that by making the vehicle extremely lightweight, with three wheels and a drag coefficient (Cd) of only 0.13.

With that kind of efficiency, it can achieve 250 miles of range on a fairly small battery pack, resulting in a vehicle starting at just $25,900.

Buyers can also configure the Aptera with a battery pack that extends the range to 400 miles for $29,800, 600 miles for $34,600, and 1,000 miles for $44,900.

Continue reading… “Aptera solar electric car with ‘1,000 miles’ of range gets $4M in backing, more than 7,000 preorders”