This month, we’re taking you around the globe for updates in the ever-evolving EV market. From the looming possibility of tariffs to the rapid expansion of charging infrastructure and the revelation of groundbreaking engine technologies, the past few weeks have been filled with game-changing announcements.

EU faces crucial decision on Chinese EV import tariffs

Via Forbes | Getty Images

The European Commission is set to make a critical decision soon regarding imposing additional tariffs on Chinese electric vehicle (EV) imports, which will significantly impact the EU's plan to phase out new gasoline and diesel vehicle sales by 2035 and the competitiveness of European automakers globally. The decision has been delayed until after the EU elections, but experts believe a 15-30% tariff will be imposed on Chinese imports. 

Increased tariffs could limit affordable Chinese EVs and protect domestic manufacturers but risk Chinese retaliation, affecting German automakers' profits from internal combustion engine (ICE) vehicle sales in China. The Biden Administration is expected to follow suit, prioritizing American-made goods and job creation.

This decision could impact the EV industry by altering the balance between affordability, environmental goals, and the protection of domestic manufacturing jobs. 

US EV charging network expands, paving the way for widespread adoption

A recent analysis by the Pew Research Center, using data from the U.S. Department of Energy, reveals that the number of publicly accessible electric vehicle (EV) charging stations in the United States has more than doubled since 2020, with over 61,000 stations now available as of February 2024. The study found that approximately six in ten Americans live within 2 miles of a public EV charger, with urban residents having the highest accessibility. 

Interestingly, the analysis also showed that Americans who live close to public chargers tend to view EVs more positively, are more likely to own or consider buying an EV, and are more confident in the country's ability to build the necessary infrastructure to support widespread EV adoption. This trend holds true even when accounting for factors such as political affiliation and community type.

Toyota debuts “an engine reborn” 

Via Kyodo News | AP

Toyota was an outlier when they introduced the first electric-hybrid, mass produced Prius, and they continue to innovate with sustainable vehicle technology. Toyota has recently introduced a groundbreaking biofuel internal combustion engine. 

This new engine is designed to prioritize the use of eco-friendly fuels like hydrogen and can be integrated into Toyota's hybrid vehicles. By offering a dual combustion engine that primarily relies on electricity and uses biofuel as a secondary power source, Toyota aims to enhance the sustainability of its hybrid lineup.

As a company based in Japan, a nation heavily reliant on train commuting, Toyota's primary focus is on achieving carbon neutrality rather than maximizing profits. The automaker is committed to adapting its strategy to align with the best interests of its home country, workforce, and consumers. This approach demonstrates Toyota's readiness to evolve and make decisions that prioritize environmental sustainability over short-term financial gains.

Hertz floods used car market with thousands of Tesla EVs

Via Reuters

Hertz, a rental car company that filed for bankruptcy in 2020 due to the pandemic, has recently made the decision to reverse its plans to electrify its fleet. The company acknowledged that it greatly overestimated the public's demand for electric vehicles, which has been declining noticeably over the past year. 

In an effort to rectify this costly miscalculation, Hertz is now in the process of selling off 30,000 Tesla vehicles, which represent approximately one-third of its entire fleet. This strategic shift aims to help the company recover from its multi-million dollar misstep and adapt to the changing preferences of consumers in the rental car market.

GM retires Chevy Malibu to prioritize EVs

Via Chevrolet

GM is bidding farewell to its long-standing and beloved Chevy Malibu to pave the way for a new era of EVs. 

The automaker recently announced that it will discontinue the production of the Malibu within the next year, making room for an exciting lineup of EVs, including the highly anticipated next-generation Chevy Bolt EV. This strategic move aligns with GM's broader vision of embracing electrification and reflects the shifting preferences of consumers in the automotive market. 

EV news, straight to your inbox 

As we wrap up this month's EV news roundup, it's clear that the electric vehicle landscape is undergoing a significant transformation. 

From the potential impact of tariffs on the global EV market to the rapid expansion of charging infrastructure and the introduction of innovative engine technologies, the industry is facing both challenges and opportunities. Automakers are increasingly prioritizing sustainability and adapting to changing consumer demands, while governments and policymakers grapple with the complex interplay between economic interests and environmental goals.

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