EV Universe Electric Newsletter #003

EV Universe

Welcome to the latest edition of the EV Universe Electric Newsletter #003, your go-to source for all things electric vehicles!

In each edition, we take a closer look at the exciting developments in the EV world and dive into the latest news and trends shaping the industry. From the latest makes and models to advancements in electrification, to innovative accessories and technologies, we’ve got you covered.

Join us on this journey. Let’s explore the future of sustainable transportation and its electrifying impact on our world. In this edition, we are covering Biden administration to expand charging network, Tesla Model Y sold out until April, and the first US built Genesis GV70 in Alabama.

“Biden Administration Unveils Ambitious Plan to Build National EV Charging Network and Boost Domestic Manufacturing of EV Components”

• The Biden-Harris administration will build a national network of 500,000 electric vehicle (EV) chargers along America’s highways and communities, with a goal of EVs making up at least 50% of new car sales by 2030.
• President Biden’s bipartisan infrastructure bill invests $7.5 billion in EV charging, $10 billion in clean transportation, and more than $7 billion in battery components, critical minerals, and EV materials.
• The Departments of Transportation and Energy have set new standards to make EV charging convenient and reliable for all Americans, regardless of car or state.
• The Federal Highway Administration outlined a plan to require all EV chargers funded through bipartisan infrastructure legislation to be manufactured in the United States.
• The Biden-Harris Administration’s Made in America policies have resulted in major investments in manufacturing and the creation of new facilities. As a part of these investments, domestic EV charging manufacturers and network operators have made new commitments, which the administration is highlighting.

“Tesla’s Model Y Sold Out in US Until April Despite Only Halfway Through the Quarter Amid High Demand and Federal Tax Credit”

• Tesla has sold out its Model Y production slots in the US and won’t be building more until April.
• The high demand for the Model Y is due to a large drop in prices and a flood of Tesla orders due to the $7,500 federal tax credit for electric cars in the US.
• Certain configurations of the Model Y are still in stock in select markets, but the automaker has updated its estimated delivery date to April-June 2023.
• Tesla has continued to slash Model 3 prices since a big price cut in early January, but new base Model 3 vehicles can still be built and shipped this month.
• The California market is critical to Tesla’s growth, with nearly 200,000 EVs shipping in 2022, and the automaker could benefit from a $7,500 federal EV tax credit, plus $2,000 in state stimulus.

“Genesis Begins Production of Electric GV70 SUV at Hyundai Plant in Alabama, U.S.”

• Genesis has begun assembling the GV70 luxury compact SUV electric vehicle at Hyundai’s plant in Montgomery, Alabama. This is the first Genesis model to be assembled outside of Korea.
• Genesis has committed to bringing all new models to market by 2025, and by 2030, even though the rest of the industry is made up of about 50% EVs, the overall portfolio will be electric vehicles (EV).
• The GV70 uses the same platform as the petrol-powered GV70, an architecture designed from the ground up to accommodate engines and batteries and 4- and 6-cylinder engines.
• During the start-up phase, install of the battery pack used a short-term solution whereas the battery is fully assembled from South Korea, manually bolted, connectors added, cooling hoses attached, and a protective underlayer added. Then a check is made.
• Hyundai Motor Group’s other electric vehicles are the Hyundai Ioniq 5 and the Kia EV6, both using a dedicated E-GMP platform and currently manufactured in South Korea.