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PTT Oil and Retail Business (OR) plans to increase its electric vehicle (EV) business by adding more charging stations in the nation’s shopping malls by the end of the year. Terminal 21, Fashion Island, and The Promenade are next in line to get the charging stations under the PluZ brand. Five more stations, two in Bangkok, two in Pattaya and another in Nakohn Ratchasima will be in service in Q3. The goal is to have 450 charging stations by the end of 2022, and 7,000 by 2030. The budget has not been revealed, but it is part of OR’s overall capital spending plan costing nearly 75 billion baht over the next five years. Part of the money is funded through the company’s initial public offering. Having charging stations in shopping malls will make it more convenient for EV car-owning consumers to enjoy stress-free trips to the mall without fear of getting a flat battery. Owners of EVs can manage reservations via the “PTT Station PluZ” mobile application which can manage congestion at … [Read more...] about 450 charging stations for electric vehicles by the end of 2022

Share to Twitter Share to Linkedin Mercedes-Benz intends to use a high-efficiency battery anode in a new electric SUV that will be supplied by Sila, an upstart battery materials company led by an early Tesla engineer that says its next-generation technology boosts energy density and, eventually, can lower the cost of lithium-ion packs. The luxury car company, which initially invested in Sila in 2019, plans to be the first automotive customer for Sila’s material, which will go into battery-powered Mercedes-Benz G-Class SUVs due by about 2025. The new silicon-based anode offers up to a 40% improvement in energy density and improve driving range per charge, Mercedes said. The companies didn’t provide financial details of the supply agreement. “Sila has come a long way since we established our strategic partnership in 2019,” Markus Schäfer, Mercedes-Benz’schief technology officer, said in a statement. “Delivering such a high energy density is a true … [Read more...] about Sila’s High-Efficiency Battery Anode To Power Electric Mercedes-Benz SUV

Share to Twitter Share to Linkedin Monthly auto loan payments are at historic highs, transaction prices continue to climb and sticker prices are losing their relevance as car shoppers' wallets are being walloped by the effects of the Covid-19 pandemic including thin inventories, rising inflation and interest rates. Those conditions are dampening overall auto sales, but especially adoption of electric vehicles. It's not all bad news. Trade-ins are fetching lucrative payouts from dealers desperate for anything to sell, especially in-demand late model pickup trucks and SUVs. On the credit side, consumer load shows no sign of retreat. According to the Q1 2022 TransUnion TRU Credit Industry Insights Report released last week the average balance of new auto loans reached $28,415 in the first quarter of this year. That's a year-over-year increase of 15.2%. “This has pushed the average monthly payment of vehicle purchases (including both new and used … [Read more...] about Rising Credit Costs, Transaction Prices Slamming Auto Affordability, EV Adoption

Share to Twitter Share to Linkedin Our theme of EV Supplier stocks has underperformed this year, declining by about 20% year-to-date, compared to the S&P 500 which is down by about 16% over the same period. The decline comes as investors rotate out of futuristic themes and higher multiple stocks, amid rising interest rates and tighter monetary policy by the U.S. Federal Reserve. That being said, demand for electric vehicles has remained robust, driven by surging gasoline prices (up by around 25% year-to-date) and continued government support. For perspective, sales of plug-in electric vehicles in the U.S. rose by almost 60% year-over-year in Q1 2022 to around 160,000 units, compared to the broader auto market which contracted by about 18% year-over-year due to supply chain constraints. Now the near-term outlook for EV supplier stocks could be mixed. While we expect EV demand to hold up, there are concerns that the U.S. could be headed for a recession, … [Read more...] about EV Demand Is Surging. Why Are Suppliers Underperforming?

Share to Twitter Share to Linkedin I ran into an old acquaintance at the 2022 ACT Expo in Long Beach last week. Terry O’Day has been involved with electric vehicles for over 25 years, and our paths have crossed, indirectly or maybe directly, here and there, over the years. O’Day is currently the Chief Operating Officer of InCharge Energy , and we talked about how InCharge fits into the fleet charging environment in 2022, how thinking through total cost of ownership convinces fleet managers and how cheap solar panels can show us a way to get more EVs to more people . But first, a bit of history . Terry O’Day : I’ve been in the EV charging business since 1996, it was my first job in my career and this is my fifth EV startup. My wife worked on the EV1 marketing and we were in the movie [2006’s Who Killed The Electric Car? ]. Sebastian Blanco : [ Disclaimer: I briefly appear in the sequel, Revenge of the Electric Car , released … [Read more...] about InCharge COO Terry O’Day: Fleet Charging EVs Is About To Get Real

What Is Storj? Storj is a cryptocurrency blockchain platform powering a decentralized system for digital file storage. The Storj network is powered by computers worldwide called nodes and requires the Storj ( STORJ ) digital currency for payment. Storj was founded in 2014 and operates with more than 10,000 active nodes with over six petabytes of available storage capacity. Users pay for storage space with the Storj token, an ERC-20 token that works on the Ethereum blockchain. As of this writing, the total value of Storj tokens is more than $200 million, making it a top 150 digital currency by market capitalization . Key Takeaways Storj is a cryptocurrency blockchain platform powering a decentralized system for digital file storage. Use cases include video storage and streaming, software distribution, backups, and cloud-native apps. The Storj cryptocurrency operates on the Ethereum network, which means anyone with an Ethereum wallet can buy, sell, or … [Read more...] about Storj (STORJ) Cryptocurrency Definition

Share to Twitter Share to Linkedin This is Part I of a three-part series from an extensive interview with the former finance minister of Ukraine. The third one includes how to help Ukraine. She also gave career advice. Part I is here. Part I: The Enabler For years after World War II, there was a prevailing theory that when we are trading partners, we are less likely to have conflicts. Labeled “the liberal peace,” political scientists across disciplines believed ‘that mutual economic interdependence can be a conduit of peace,” because it “limits the incentive to use military force in interstate relations,” as the Cato Institute put it as recently as 2020. Companies opened markets across the globe and leveraged that access to reduce costs, building international supply chains. In the process, they created a complex web of trade, commerce and shipping that kept shareholders happy and executives on airplanes. It grew local economies, but also … [Read more...] about The Hidden Power Of ESG – Part 1 Of 3-Part Series: Interview With The Former Finance Minister Of Ukraine

Share to Twitter Share to Linkedin This is Part II of a three-part series from an extensive interview with the former finance minister of Ukraine. The third one includes how to help Ukraine. She also gave career advice. Part I is here. Part II: The Hidden Power Of ESG As explained in Part I of this series, the Russian invasion of Ukraine reflects the weakness in the core of the “liberal peace” doctrine believed for decades — that global commerce would disincentivize conflicts — in part because of dark money, argued Natalie Jaresko, the former finance minister of Ukraine, in an extensive interview on my Electric Ladies Podcast. Furthermore, she argues that taking Russian money is inconsistent with the commitments to ESG, or environment, social and governance principles, that dozens of companies and countries have declared. ESG commitments from companies and countries, and investments in ESG funds, have swelled over the past few years. ESG funds … [Read more...] about The Hidden Power Of ESG – Part 2 Of 3-Part Series: Interview With The Former Finance Minister Of Ukraine

Share to Twitter Share to Linkedin This is Part III of a three-part series from an extensive interview with the former finance minister of Ukraine. Part I is about dark money and Part II is about ESG’s related hidden power. Maria Prymachenko was a self-taught artist who became one of Ukraine’s artistic treasures and her brightly-colored “naȉve” works made her an icon of Ukrainian national identity. When the local museum outside of Kyiv housing much of her work was in flames from an attack by Russian forces, a man in the village reportedly risked his life to go in to the burning building and rescued 14 of her paintings, including one of two people shaking hands. Her art has now become a global symbol of Ukrainian culture, resistance and resilience. As leaders, citizens, consumers and investors, we can use our voices and our resources to help Ukraine, Natalie Jaresko, the former finance minister of Ukraine explained on my Electric Ladies … [Read more...] about 12 Steps You Can Take To Help Ukraine – Part III, From Its Former Finance Minister

The Biden administration, which wants everyone in the U.S. to have affordable access to high-speed internet by 2029, announced May 13, 2022, a $45 billion 'Internet for All (IFA)' initiative to pay for it. According to the U.S. Commerce Department, the initiative will provide "affordable, reliable, high-speed internet for everyone in America by the end of the decade." Administration and implementation of the program will be the responsibility of the U.S. Department of Commerce’s National Telecommunications and Information Administration (NTIA). The announcement about the IFA initiative came on the heels of news May 9, 2022, that the Biden administration had partnered with 20 broadband providers, including AT&T and Verizon, to improve their subsidized high-speed internet plans made available to low-income Americans through the Affordable Connectivity Program. Key Takeaways 'Internet for All (IFA)' is a $45 billion initiative to provide affordable high-speed broadband … [Read more...] about Biden’s New Plan To Expand Broadband Access