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Hybrid Vehicle Sales Slump! EV Demand Overhyped?
Data continue to show that widely publicized green vehicles, notably hybrid vehicles whose sales are in a slump, and electric vehicles just now starting sales are losing popularity among potential buyers. The latest evidence of a hybrid sales slump comes from CNW Research in a report that suggests consumers are increasingly less willing to spend additional money for a hybrid than a conventional gasoline car or truck of the same size and use. Continue reading
PEVE to Become Toyota Battery Company
Toyota Motor (NYSE:TM) in Japan confirmed today that Primearth EV Energy Co., Ltd. (PEVE) will become a wholly-owned subsidiary of Toyota Motor. The subsidiary will use the technology advanced through Toyota’s hybrid vehicle battery business to date. and presumably improve on it. The transaction is scheduled to be approved at PEVE’s Annual General Meeting of Shareholders in late June 2024. It’s the latest in a series of moves by Toyota to become a dominant EV company.
“The new company name embodies our determination to leverage the technology and skills honed since PEVE’s establishment in 1996 to contribute to the competitiveness of Japanese batteries and become a company that provides high-quality and highly safe on-board batteries. In addition to batteries for Hybrid Electric Vehicles (HEVs), we plan to produce batteries for Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs). Through our efforts in the production of diverse and next-generation on-board batteries, we hope to create new value and be useful to society,” PEVE said. Continue reading →