⚡️Bolt is Back

Good Day, this is your Electric Daily. The email that gives you a daily jolt of electric vehicle trends, insights, and predictions, in 5 minutes or less.

In Today's Email:

• ⚡️Bolt is Back

• 👋 5 Electric Vehicle Trends You Need To Know About

• ▶️ Video of the Day

• 🗒️ Four Nuggets

—Riz Nwosu

Bolt is Back

Last year, General Motors recalled its very affordable EV offering, the Chevrolet Bolt, and its crossover version, the Bolt EUV, following repeated reports of the battery pack catching on fire.

In November, production was paused and a stop-sale order was issued to dealers nationwide while GM and battery provider LG Energy Solution worked on a solution. Well I'm happy to report that the figured it out and new Bolts will begin to roll off the assembly line again on Monday.

General Motors spokesperson Dan Flores confirmed the beginning of manufacturing yesterday, saying, "We are really thrilled to restart production, and we'll continue to manage battery availability for new car production while prioritizing recall repairs." Around 140,000 Bolts were recalled in total due to a pair of manufacturing flaws in LG's battery packs that might cause a fire.

It would be fascinating to watch if Bolt sales rebound now that manufacture of new Bolts has resumed. Before the recall, Chevrolet sold over 24,000 Bolts in 2021, but prospective buyers may still be a bit leery of the Bolt EV and EUV with its recent fiery history.

Since the Bolt's production ceased, many new EV models from other manufacturers have gone on sale and filled the the Bolt sized void left by GM. However, none of them is yet to beat GM on it pricing of the Bolt which starts at $32,495.5

5 Electric Vehicle Trends You Need To Know About

Electric vehicles are the future. Their sales are booming as governments worldwide promote them with incentives and outright bans on the sales of internal combustion engine vehicles. Hence, it is important to keep up with the latest trends in the electric vehicle world. Here, I present you with five electric vehicle trends you need to keep an eye on.

Electric vehicle charging could soon be as fast as buying fuel

Electric vehicle charging is a sticky point for some people as it is not as fast as stopping over at a gas station and pumping gas into the tank. While this drawback might not affect daily operation in any significant way, it becomes obvious when traveling distances longer than the range of the EV and the driver has to stop multiple times to charge.

However, with the progress being reported in battery research, rapid charging times could soon be upon us. For example, a team at Penn State University claimed to have produced a battery that could charge in just ten minutes! Israeli startup, StoreDot also claimed to have developed a battery that can gain 100 miles in five minutes.

Gas stations are evolving right before our eyes

As internal combustion vehicles continue to make way for zero-emission electric cars, gas stations will naturally disappear or evolve into something else. The forward-thinking ones will look for ways to remain relevant in the post-fossil-fuel era. A good example is the Shell Nebbenes Vest fuel station in Norway which is adding public charging stalls to its premises. It has to move with the times, as electric vehicles now outsell gas-powered vehicles in the Nordic nation.

Electric vehicles could soon achieve price parity with gas-powered vehicles

Electric vehicles generally cost more than their ICE counterparts. This is mainly due to the battery, which accounts for more than one-third of the cost in some models. However, battery prices are dropping which should lead to a corresponding reduction in electric vehicle costs. Some analysts believe 2025 is the year EVs will cost the same as ICE vehicles, which will be a big boost for the former.

However, with the lingering effects of the Pandemic and now the war in Ukraine, it might be wise for those analysts to revise that 2025 targets.

Electric vehicles can power your home

Because of the large batteries that are inside electric vehicles, they are practically mobile power banks. Most of the energy in the battery sits unused for most of the day. However, with vehicle-to-grid (V2G) tech, EV owners can tap into the battery to act as a power source. The power could be connected to your own home or used at remote locations to run speakers, charge batteries, or even a mobile kitchen as Rivian does with its R1T pickup truck.

Electric vehicles will change the way we build houses

Before electric vehicles became popular, nobody thought of refueling their car at home as it was difficult and dangerous to set up a fuel pump in the house. However, charging stations allow you to refuel your electric vehicle right in your garage. This calls for the re-imagination of the functions of a house. The UK government, for example, will require new homes to have EV chargers starting from 2022.

Video of the Day

In case you still had any doubts about why electric cars are superior in every way compares to ICE vehicles, here's how well a Tesla's Model X SUV did in a drag race against a Lamborghini.

4 Nuggets

• 2 Undervalued EV Stocks You Can Buy and Hold for the Next Decade - [Read more here]

• The US government has just 1% of the EV chargers it needs - [Read more here]

• Norway keeps breaking EV adoption records, Tesla Model Y leads the charge - [Read more here]

• Lexus RZ EV confirmed for 20 April reveal - [Read more here]

Consider yourself 80% charged. Why 80%? Well, according to legend, charging your battery to 100% repeatedly will degrade it faster than normal. See ya tomorrow!

What'd you think about today's email?

• ⚡⚡⚡⚡⚡ Fully charged

• ⚡⚡ Meh - was ok

• ⚡ Not even close

Written by Riz Nwosu

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