Tag: EV’s

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Northvolt Announces Job Cuts and Site Closures Amid EV Sales Declines

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the staff of the Ridgewood blog

Ridgewood NJ, Northvolt, a critical battery producer for Europe’s electric vehicle (EV) industry, has announced a series of cost-cutting measures, including job cuts and the closure of one of its facilities. The Stockholm-based company, which manufactures lithium-ion batteries and has partnerships with leading automakers such as Volkswagen and Volvo, is taking steps to secure its future amidst a challenging economic environment.

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Volvo and Other Automakers Scale Back Electric Vehicle Ambitions Amid Profitability Concerns

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the staff of the Ridgewood blog

Ridgewood NJ, Volvo made headlines as the first car manufacturer to pledge an all-electric lineup by 2030, a bold move signaling a shift towards a more sustainable automotive future. However, like many of its industry peers, Volvo is now reevaluating that plan. Chief Commercial Officer Bjorn Annwall recently admitted that the company needs to “adjust to reality,” as fully electric vehicles (EVs) must also be profitable. This statement highlights the growing tension between environmental goals and financial sustainability.

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New Registration Fee Goes Into Effect for NJ Electric Car Owners

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the staff of the Ridgewood blog

Ridgewood NJ, starting July 1, owning an electric vehicle (EV) in New Jersey just became more expensive, thanks to a new annual registration fee aimed at funding transportation infrastructure projects. Here’s what you need to know about the latest developments affecting EV owners in the Garden State.

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Buyer’s Remorse: Nearly Half of U.S. EV Owners Want to Switch Back to Gas-Powered Vehicles

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the staff of the Ridgewood blog

Ridgewood NJ, recent data reveals that a significant number of Americans who own electric vehicles (EVs) are experiencing buyer’s remorse. According to McKinsey & Co.’s Mobility Consumer Pulse for 2024, 46% of EV owners in the U.S. reported being “very” likely to switch back to owning a gas-powered vehicle for their next purchase.

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The Majority of NJ Voters Support Increased Fees for EVs

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Voters also want Gas Tax and Registration Revenues Used for Roads and Bridges – not Subsidizing NJ Transit

the staff of the Ridgewood blog

Fairleigh Dickinson University, Madison, NJ, according to the latest results from the FDU Poll, sponsored by the Fuel Merchants Association of New Jersey, New Jersey voters support the recently passed fees on electric vehicles by more than a 2 to 1 margin. The survey questions, which monitored the opinions of voters on transportation funding, also show that a majority of voters (58-34) want gas tax and vehicle registration revenues to be dedicated to funding roads and bridges, rather than used to subsidize New Jersey Transit.

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Automakers Lose $6,000 per Electric Vehicle

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the staff of the Ridgewood blog

Ridgewood NJ, automakers throughout the United States have invested substantial sums into their electric vehicle (EV) strategies in recent years, channeling funds into various aspects such as new product development, engineering advancements for lighter and more powerful motors, and the establishment of new manufacturing facilities. However, despite these hefty investments, it appears that the cost may not be yielding favorable returns, as EV manufacturers across the nation reportedly face significant losses with each vehicle sold.

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New Jersey EV Mandate is Unaffordable for NJ Families, Limits Choice, and is Unworkable for the State’s Economy and Energy Infrastructure

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the staff of the Ridgewood blog

Trenton NJ, on behalf of the Fuel Merchants Association of New Jersey, Eric DeGesero released the following statement in regards to NJDEP‘s comment period on Advanced Clean Cars II regulations:

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Car and Driver magazine: Electric Vehicles Range is Greatly Exaggerated

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the staff of the Ridgewood blog

Ridgewood Nj, speaking of EV’s , Car and Driver magazine’s testing director Dave VanderWerp has compared the EPA’s fuel economy and range estimates to the results of his own real-world highway tests.

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Has Electric Vehicle Demand Peaked ?

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the staff of the Ridgewood blog

Paramus NJ, Tesla revealed steep price cuts on its lineup of cars on Thursday. Its car prices have been lowered by up to 30 percent when the latest EV tax credits are applied as well. The price cuts could signal the beginning of a price war in the EV market. Several manufacturers are launching new EVs this year, but production will be limited. Tesla’s offerings are now well below several competitors.

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Has Tesla’s Market Share Peaked ?

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the staff of the Ridgewood blog

Paramus NJ, Tesla has revealed a wireless charging mat inspired by its Cybertruck’s angled design. The mat supports Qi-compatible devices and can charge up to three devices at a time at 15 watts each. It uses a charging technology called FreePower that allows devices to be charged in any position on the mat. Tesla’s Wireless Charging Platform can be preordered for $300 and will start shipping in February.

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Porsche IPO in the Works

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the staff of the Ridgewood blog

Ridgewood NJ, soon you will  be able to own stock the legendary German sports car company . Volkswagen Group, which owns brands like Volkswagen, Audi, Lamborghini, Bentley, and Porsche, is planning to take Porsche public in a listing that could value the brand anywhere between $60Billion to $85Billion.

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NJ Transit Police Employ Electric Vehicles to Provide Fast Response

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the staff of the Ridgewood blog
Newark NJ, NJ Transit Police in an effort to do their part, our newest all electric vehicles are deploying to patrol districts throughout the state. You may notice them soon at the NJ TRANSIT stations and facilities you travel through.⁣

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Raw Material Costs for EV’s Will Continue to Rise While the so called “Inflation Reduction Act” Makes Most Ineligible for Tax Credits

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Bergen County big Investment in EV’s

the staff of the Ridgewood blog

Ridgewood NJ, Ford Motor CEO Jim Farley does not expect the costs of raw materials for the company’s electric vehicles to ease in the near future, marking the latest signal that automakers will continue hiking prices for their new EVs.

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GM to build a ‘coast-to-coast’ EV fast-charging network

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file photo of Bergen County Charging Station in Van Saun Park

the staff of the Ridgewood blog

Ridgewood NJ, GM has partnered with EVGo to construct a coast-to-coast national DC fast charging network. The network will offer 2,000 charging stalls at 500 stations located every 50 or so miles along America’s highways. Each station will offer a 350kW maximum charge rate and be accessible to all EV brands. GM owners will receive added perks such as exclusive reservations and discounts. The stations will feature amenities such as Wi-Fi, restaurants, coffee, and secure shower facilities.

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