1. Higher gas prices in Europe.
Russia’s unprovoked Ukraine invasion since 24 February has made a huge impact on European and British gas prices resulting in prices increasing quickly. Reuters (2022) mentioned that considering the current situation of war and the fact that Russia is the world's largest oil exporter, Europe is likely to see the gas prices soar which will last into 2023.
Craig Lowrey, the senior consultant at Cornwall Insight, highlighted that
“With the potential supply disruption from Russia reverberating throughout the European energy market, volatile energy prices are likely to continue for the foreseeable future,”
Lastly, he emphasized that if gasoline price inflation continues it may help push consumers toward electric vehicles and would grow the demand for EVs.
2. The extreme fast charging battery – Add 100 Miles in 2 Minutes of Charging. What is StoreDot?
StoreDot, which was founded in 2012 by Dr. Doron Myersdorf, Professor Simon Litsyn, and Professor Gil Rosenman, is the pioneer company that develops and provides extreme-fast charging (XFC) batteries. Headquartered in Israel, StoreDot is known to be one of the hundred most innovative and groundbreaking start-up companies in the world.
After 2 years of being established the company developed smartphone batteries that need only 30 seconds to be fully charged. As the years go by, StoreDot continues to concentrate it’s efforts on the automotive industry to move forward to battery electric vehicles and make them more energy-dense.
In 2020, a newly developed UFC FlashBattery was developed by StoreDot which works in combination with Ultra-fast charging stations (UFC). The company mentioned that this innovation will make it possible for electric vehicles to be charged 18 times faster than the existing batteries that are currently used for drones.
What StoreDot Promises?
This start-up is constantly pushing the boundaries of ultrafast charging to overcome the charging anxiety. In March of this year (2022) StoreDot announced that
“Our supreme intention, nevertheless, and 1 that is certainly in our grasp, is to create cells that will revolutionize charging occasions, accomplishing 100 miles of selection in only two minutes,”
The company also added that “This breakthrough general performance that was after viewed as unattainable [will be] achievable with StoreDot’s technological know-how in just 10 decades from now.”
The extremely fast charging battery capable of adding 100 Miles in 2 Minutes of charging seems like fantastic news for the future of EVs.
3. Ford to introduce seven EVs in Europe.
Ford revealed the news that it will launch seven new all-electric vehicles in Europe by 2024. More specifically, utilizing the Volkswagen Group's MEB platform, as part of a strategic alliance between the Blue Oval and the German automaker, Ford will begin production of three new passenger vehicles and four new commercial vehicles.
Starting in 2023, Ford will start production of the three new electric cars that will come under the new Ford Model E division. The first model is being described as a “medium-sized crossover" and is expected to be largely based on the VW ID4 and sit below the Ford Mustang Mach-E in Ford’s line-up. The second EV, which is described as a “sports crossover” is potentially based on the VW ID5 and will be built at the Ford Cologne Electrification Center in Germany. Furthermore, European customers will be able to purchase the electric version of Ford's best-selling passenger vehicle, Puma. Starting in 2024, it will go into production in Craiova, Romania.
In addition, Ford’s plans for a new battery plant include four new electric models. All-new Transit Custom one-tonne van and Tourneo Custom multi-purpose vehicles will be launched from 2023 and will be followed by next-generation Transit Courier van and Tourneo Courier multi-purpose vehicle in 2024. The company announced the goal to sell more than 2 million EVs globally by 2026.