Author: EVAI

EV sales are likely to continue growing in 2024, reaching around one in five new car sales globally, and 11% of the U.S. market, according to the International Energy Agency (IEA).

Tight profit margins, volatile battery raw material prices, and the phaseout of incentives in certain countries have led to concerns about an EV sales slump, but data shows that sales are still growing, analysts found, with falling battery prices, EV-friendly policies, and increased sales in emerging markets underpinning further sales growth.

Rivian R1T at Tesla Supercharger

That conclusion is based in part on record 2023 EV sales. Last year, EV market share reached 18%, up from 14% in 2022. Most (60%) were sold in China, followed by Europe (25%) and the U.S. (10%). But growth in other markets could further boost EV sales, analysts predict.

Over 20 major automakers, representing 90% of global car sales in 2023, have set electrification targets, the IEA notes. And sufficient investment in battery manufacturing capacity to meet these targets is already in place, according to analysts. With this groundwork laid, and stricter emissions regulations in place in many countries, every other car sold globally in 2035 could be an EV, analysts predict.

2024 Volkswagen ID.4

The IEA analysis mostly agrees with a consensus of other analysts’ predictions for 2024—that EVs will keep gaining market share. Bloomberg earlier this year predicted 1.9 million EV sales for the U.S. in 2024, accounting for 13% of the new-car market. EVs already make up more than a third of the U.S. luxury vehicle market, the Energy Information Administration (EIA) said in December 2023.

In the U.S., EV adoption has become more polarized by state, a 2023 study found. And while U.S. EV sales are growing, so is the size of the gasoline fleet, potentially offsetting emissions reductions from EVs.

Mini on Wednesday unveiled a new entry electric model, although it’s unclear if it will reach the U.S.

Called the Aceman, the new model is a crossover that borrows the name and minimalist look from a 2022 concept car. Measuring just 160 inches long, it slots between the redesigned 2025 Mini Cooper hatchback and 2025 Mini Countryman crossover.

That footprint also means the Aceman is a step smaller than the 2024 Hyundai Kona Electric and 2025 Volvo EX30—two of the freshest subcompact EVs confirmed for the U.S. market at the moment. Mini does claim a maximum 35.0 cubic feet of cargo space with the rear seats folded flat, which is more than the Volvo.

2025 Mini Aceman

Developed in partnership with Spotlight Automotive, a joint venture between Mini and Chinese automaker Great Wall Motors, and slated to be built in China, the Aceman borrows interior fittings and tech from the latest Cooper, including a 9.4-inch circular screen, voice control that responds to the prompt “Hey Mini,” and digital key functionality.

Mini confirmed Aceman E and Aceman SE variants. The base Aceman E has a 42.5-kwh battery pack and a front-mounted electric motor tuned for 181 hp, enough for 0-62 mph in 7.9 seconds.  The Aceman SE has a 54.2-kwh pack and 214-hp motor, with 0-62 mph happening in 7.1 seconds.

2025 Mini Aceman

European WLTP range is estimated at 192 miles for the Aceman E and 252 miles for the bigger-battery Aceman SE—so don’t expect 200 EPA miles out of this model in any form. The E and SE can DC fast charge at 75 kw and 95 kw, respectively, in either case allowing for a 10-80% charge in just under 30 minutes.

Up until now, the only electric Mini has been the Cooper SE—also one of the most affordable EVs in the U.S. market. But the redesigned 2025 Cooper and Countryman will both be available as EVs. Those models are expected to reach the U.S., but we’ll have to wait and see if the Aceman makes it here as well.

Another company has surfaced with an electric conversion for the original Defender, but there’s a difference this time. U.K.-based Bedeo’s electric Defender uses in-wheel motors, which Bedeo has packaged as a retrofit kit that could potentially be used on any classic car. Bedeo specializes in adding electric powertrains to light commercial…

“Give my creation life!” Gene Wilder cried in his eponymous role as “Young Frankenstein,” where the young doctor strove to make a bigger, bolder, better version of his monster for a new generation. Mercedes has done something similar but much more serious with the Tuesday unveiling of its latest creation, the fully electric 2025 Mercedes-Benz G…

Tesla reintroduces the Model 3 Performance, and the brand rules in ownership costs. Mercedes rolls out its electric G-Class. And Vinfast adds U.S. dealerships. This and more, here at Green Car Reports. 

In addition to Tesla’s quarterly call for investors—which ended up very much focused around robotaxi plans—the EV brand revealed its Tesla Model 3 Performance on Wednesday. With a dedicated track mode, an adaptive suspension, and various other improvements already gained by the refreshed Model 3 “Highland,” the Model 3 Performance looks a step closer to a luxury car while upping its performance. It might also be EV tax-credit-eligible while other Model 3 versions aren’t. 

Vietnam’s Vinfast announced Tuesday that it has signed a dozen new U.S. dealerships to sell its EVs. With the expansion, it will have 18 franchised dealerships in addition to 15 company-owned stores in California. Cinfast has delivered only a fraction of the 100,000 vehicles it targets globally this year, so the sales push might help simply get them out in front of shoppers.  

The 2025 Mercedes-Benz G-Class EV has made its debut, and although it’s missing the silicon-anode battery chemistry the automaker suggested this model would debut, it’s going to be a serious rival to the Rivian R1S, GMC Hummer EV, and Tesla Cybertruck. Badged the G 580 with EQ Technology, this model will allow a trick G-Turn on low-friction surfaces, and it might return more than 300 miles of EPA range. 

And Tesla has the lowest ownership costs of any brand, according to the latest assessment by Consumer Reports. According to the organization, Teslas average just $4,035 in maintenance costs over 10 years, which puts the brand well ahead of other brands—even Toyota.

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Mercedes-Benz late on Tuesday took the covers off the long-awaited electric G-Class. It rides on a modified version of the gas-powered G-Class’ body-on-frame platform, and packs four motors delivering a combined 579 hp. It’s official name is G 580 with EQ Technology, and it launches as a 2025 model in the U.S. Sales start in the second half of the…

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A new Tesla Model 3 Performance based on the refreshed Model 3—codenamed “Highland” by the automaker—is now available to order in the U.S.

Appearing on Tesla’s website Tuesday, the new Model 3 Performance has a dual-motor all-wheel drive powertrain rated at 510 hp and 546 lb-ft of torque. Tesla quotes 0-60 mph in 2.9 seconds, a 163 mph top speed, and 296 miles of range.

Tesla also claims more consistent performance from its fourth-generation drive units, with a 22% increase in continuous power output, a 32% increase in peak power output, and a 16% increase in peak torque compared to the previous Model 3 Performance, along with lower energy consumption.

Tesla Model 3 Performance

Chassis upgrades include adaptive dampers and an improved Track Mode that ties together the functioning of motor, suspension, and powertrain cooling controls with the car’s vehicle dynamics controller. Tesla also equips Performance models with 20-inch forged and staggered wheels with Pirelli P Zero 4 tires.

The Model 3 Performance gets the same revised styling previously seen with the Highland update, which have been available in the U.S. since January. As with those other models, Tesla claims aerodynamic benefits, with a 5% reduction in drag, a 36% reduction in lift, and a 55% improvement in front/rear lift balance compared to the previous Model 3 Performance.

The main interior change is a new set of front sport seats. The Model 3 cabin overall received a substantial revamp with the Highland refresh, adding features like cooled front seats, dual wireless device charging, and an 8.0-inch screen for rear-seat passengers in addition to the main 15.4-inch touchscreen.

Tesla Model 3 Performance

Pricing starts at $52,990 before destination, putting the Performance at the top of the Model 3 lineup, above the Long Range All-Wheel Drive ($47,740) and Rear-Wheel Drive ($38,990). The Performance appears eligible for the federal EV tax credit, which could mean it’s a better deal than the Long Range, though. Tesla has been applying these credits at the time of purchase.

Tesla pricing is always volatile, however. A round of price cuts just earlier this week mean the Model Y now undercuts the Model 3. Currently the bestselling vehicle on the planet, the crossover hasn’t gotten the same updates as the sedan, though.

When it launched, the Model 3 Performance was somewhat of an outlier. But new competition has cropped up in the form of the BMW i4 and Polestar 2, so just as with the standard Model 3, an update of the Model 3 Performance was needed.

The ID UX subbrand is the automaker’s bid to recapture market share lost to local rivals such as BYD. VW also showed the ID Code crossover concept ahead of the Beijing auto show.

Vinfast on Tuesday announced the signing of 12 more U.S. dealerships, but a recent report suggests the EV firm may be falling behind on sales targets.

The first of the new dealerships is expected to open later this month, according to a Vinfast press release. The additions will give the company 18 franchised dealerships in seven states—North Carolina, New York, Texas, Florida, Kansas, Connecticut, and Kentucky—since the start of a pivot to a dealer model last year. That’s on top of 15 company-owned stores and service centers in California, the nation’s largest EV market.

2023 Vinfast VF 8

Vinfast’s first product for the U.S. is the VF 8 electric SUV. A preview drive in 2022 showed us that the VF 8 had a long way to go, and an official first drive of the VF 8 last year led us to warn that it simply doesn’t feel ready yet.

A follow-up, the three-row Vinfast VF 9 SUV, has been officially rated with a 330-mile EPA range, but deliveries haven’t yet started. Both the VF 8 and VF 9 arrive to crowded fields of crossover alternatives. At CES 2024, Vinfast revealed a new pickup concept and showed its unique VF 3 mini-SUV. Both might be more likely to find inroads in the U.S. market. 

Vinfast VF 9

Meanwhile construction is reportedly paused at Vinfast’s factory in North Carolina, with it reportedly seeking a smaller footprint, according to local newspaper The News & Observer. A recent Axios report suggested that Vinfast is simply having trouble selling its vehicles all around the world.

Vinfast hopes to deliver 100,000 vehicles globally this year, but delivered just 9,869 in the first quarter, according to Axios. Vinfast has shipped just 3,118 vehicles to the U.S., and only 265 of those had sold as of December, the report said, citing registration data. Yet Vinfast told shareholders it plans to complete the North Carolina factory in 2025, with an annual production capacity of 150,000 vehicles.