EVs Archives

Used Car Industry Set To Be Hit Hard By EV and ESG Push!

Industry experts predict challenges for the internal combustion engine (ICE) driven second hand car market due to the growing focus on environmental, social, and governance (ESG) standards. This could lead to higher costs and taxes for ICE vehicles, raising doubts about the sustainability of the second hand car industry.

The delay in adopting ESG principles is a concern, notably seen in the environmentally harmful reputation of the used car market. This is due to reliance on old, polluting vehicles using fossil fuels.

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Panasonic And Subaru Set To Reveal EV Battery Strategy

Japan’s Panasonic Holdings and Subaru are set to unveil plans for an electric vehicle battery alliance soon, just days before both companies report first-quarter profits.

Panasonic, which provides some of Tesla’s EV batteries, is looking to expand its worldwide market share as Chinese and South Korean competitors expand their presence. Panasonic made a similar agreement with Mazda Motor in June, with sales set to begin in the second part of the decade.

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EV Owners File Lawsuit Against Hyundai For Charging Defect

According to reports coming out of the United States, a recently filed nationwide class-action lawsuit centres on how quickly Hyundai Group electric vehicles can truly charge when plugged in at home and a tendency to overheat. Plaintiffs contend that a flaw in the plug port causes it to overheat when the car is charging at level 2, significantly delaying the rate at which energy is recovered.

Owner complaints, recordings illustrating the alleged flaw, and the Hyundai Group’s own efforts to fix the issue are all included in the lawsuit as supporting evidence of a problem for which owners are entitled to be compensated in the Central District of California United States District Court.

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Why Are Electric Vehicles So Expensive In Malaysia?

It is undeniable that the Malaysian government has introduced a number of EV-specific incentives to promote the use of electric vehicles (EVs), including complete import and excise duty exemptions that are valid through the end of 2025.

Despite this, EVs remain prohibitively expensive for the bulk of the population for one key reason, which is the price of buying one. EVs presently cost above RM100,000 in Malaysia. This is supposedly caused by regulations put in place by the Ministry of Investment, Trade, and Industry (MITI), not because EVs are costly by nature, but something entirely different.

According to a report by SoyaCincau, a new Completely Built Up (CBU) EV may only be imported into Malaysia in accordance with MITI’s Franchise AP policy which states that an EV can only be imported if its list price in our market exceeds RM100,000. This policy will be in effect until December 31, 2025, much like the exemptions from import and excise taxes that we previously indicated.

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Heat Wave Affecting EV Battery Performance & Reducing Range

EV’s are supposed to be the savior’s of the world by reducing greenhouse gas emissions, eliminate the need for dirty petrol, and improve the efficiency of transportation. Ironically, the bulk of the world is presently experiencing soaring temperatures, which consequently are reducing EV range and posing a challenge for EV users.

Recurrent, a battery and range analytics firm located in Seattle, evaluated a variety of EVs in a range of climates to see whether temperatures had an impact on battery health and range. EV range decreased as the temperature rose. When temperatures surpassed 38 degrees Celsius, the range of some EVs was reduced by 31%. EVs had a 5% range loss at 32 degrees Celcius and a 2.8% reduction at 26 degrees Celsius.

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Malaysia Set To Be EV Powerhouse in South East Asia!

With the government aggressively supporting a favourable EV environment and the strong corporate commitment demonstrated by two globally famous automakers, Geely and Tesla, Malaysia is on the right track to become an Electric Vehicle (EV) powerhouse in Southeast Asia.

According to a report by Bernama which has been picked up by several news portals, the introduction of Tesla Inc. with its headquarters in the US and China’s Zhejiang Geely Holding Group Co, commonly referred to as Geely, into the Malaysian market is a glaring example of Malaysia’s importance in the region’s automotive sector.

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Tech War Reduces Quality In Modern Cars

Most cars released these days are fitted with new technology or as the automakers call it, “cutting-edge technology.” However, new technology does not seemingly translate to good quality. Some are just unnecessary and the car would do fine without it.

The JD Power 2023 US Initial Quality Study, based on 93,380 participants who purchased or leased new 2023 model-year cars in America, found that the industry average increased to 192 problems per 100 (PP100) vehicles from 180 in 2022.

Jaguar Land Rover Predictive Touch Technology

Now, we are not hating on electric vehicles (EVs) but according to the study, the majority of problems are from EVs. We can see why too. Because every automaker wants to release a new model that will “wow” the people, but this seems to cause more problems in the long run.

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EV Batteries Still A Great Concern For Insurers

Thatcham Research has stated that a lack of data on EV batteries continues to present problems for insurers who are obliged to write off EVs after minor accidents, possibly jeopardising EV adoption.

In a report titled “Impact of BEV Adoption on the Repair and Insurance Sectors,” which the UK Government’s innovation agency Innovate UK funded to examine differences between EVs and fossil-fuel models, the British automotive risk intelligence company cited a “concerning lack of affordable or available repair solutions and post-accident diagnostics.”

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GWM Malaysia Expands With Two New 4S Service Centres

GWM Malaysia has announced the opening of their two new 4S service centres located in Butterworth, Penang and Seremban, Negeri Sembilan.

Also present at the opening of the service centre in Seremban was Transport Minister, YB Anthony Loke Siew Fook. As part of the government’s commitment to a greener future, Loke recently mentioned that the proposed tax structure aims to encourage people to embrace electric vehicles (EVs).

The GWM Seremban 4S centre’s emphasis on EV adoption, which responds to the rising demand for GWM electric car owners in Negeri Sembilan, is one of its main selling points. The hub will provide the most recent lineup of GWM’s alternative fuel vehicles as well as after-sales service assistance, which is in keeping with GWM’s commitment to aiding Malaysia’s efforts to achieve carbon neutrality as early as 2050.

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Malaysia Still Lacking EV Charging Stations

According to Chang Lih Kang, the Science, Technology and Innovation (MOSTI) minister, Malaysia still lacks the 10,000 EV charging stations that are intended to be installed by 2025, despite the fact that demand for such stations is only expected to increase. There are currently only about 1,000 EV charging stations in Malaysia.

“Our market and nation are still new to EVs. There aren’t enough charging stations, which means the EV ecosystem is still not complete. Manufacturers are reluctant to enter the market as a result,” he said, after witnessing the signing of a Memorandum of Understanding (MoU) between Alibaba Cloud and Agmo Holdings Bhd.

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EVs

Used Car Industry Set To Be Hit Hard By EV and ESG Push!

Panasonic And Subaru Set To Reveal EV Battery Strategy

EV Owners File Lawsuit Against Hyundai For Charging Defect

Why Are Electric Vehicles So Expensive In Malaysia?

Heat Wave Affecting EV Battery Performance & Reducing Range

Malaysia Set To Be EV Powerhouse in South East Asia!

Tech War Reduces Quality In Modern Cars

EV Batteries Still A Great Concern For Insurers

GWM Malaysia Expands With Two New 4S Service Centres

Malaysia Still Lacking EV Charging Stations

Used Car Industry Set To Be Hit Hard By EV and ESG Push!

Panasonic And Subaru Set To Reveal EV Battery Strategy

EV Owners File Lawsuit Against Hyundai For Charging Defect

Why Are Electric Vehicles So Expensive In Malaysia?

Heat Wave Affecting EV Battery Performance & Reducing Range

Malaysia Set To Be EV Powerhouse in South East Asia!

Tech War Reduces Quality In Modern Cars

EV Batteries Still A Great Concern For Insurers

GWM Malaysia Expands With Two New 4S Service Centres

Malaysia Still Lacking EV Charging Stations

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