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January 5, 2022 | EVs Here To Stay Because They are Better and Cheaper to Run

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

Finally, thanks to Tesla’s leadership, all of the world’s major vehicle companies are racing to evolve to cleaner technology that is much more energy-efficient and cheaper to run for owners.  See Ford plans to nearly double production of its new all-electric F-150 Lightning pickup by mid-2023:

The increase is a positive sign of demand for the F-150 Lightning as well as electric vehicles in general but also shows Ford significantly underestimated demand for the truck, causing it to now scramble to boost manufacturing of it. This is the second time Ford has said it plans to double production of the vehicle, which is due out in the spring. Initial output was set for about 40,000 units.

“The reception of this vehicle has been absolutely incredible,” Kumar Galhotra, Ford president of the Americas & international markets, said Tuesday on CNBC’s “Squawk Box.”

Electric vehicles that go as far as a tank of gas on one charge are the final death blow for ICE vehicles, and smarter tech is just getting started here. Plant-based and recycled materials for interiors are the new standard too. See Daimler’s concept car has over 621 miles of range and solar tech on roof:

Daimler has released details of a concept electric vehicle which uses solar technology and bio-based materials, with the German automotive giant saying it has a range of over 1,000 kilometers (around 621 miles) on one charge.  The Vision EQXX has 117 roof-based solar cells — the idea is that they can help to boost the car’s range — while the vehicle’s interior incorporates materials including a leather alternative called Mylo.  Mylo is produced using mycelium, which Daimler described as being “the underground rootlike structure of mushrooms.”

 

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January 5th, 2022

Posted In: Juggling Dynamite

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