👋 Watts up? A recent Global EV Drivers Alliance survey reveals that 92% of electric vehicle owners intend to stick with their choice, with only 1% deciding to revert back to fossil fuels, and 4% opting for plug-in hybrid alternatives. Sticking to the theme of electric transport, Volvo has partnered with DHL to commence autonomous freight operations, utilising Volvo’s range of electric trucks. Learn more on these stories, and others, in todays issue.

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QotD: As of 2023, how many EVs are there on the road?

MARKETS

Data provided by Stock Analysis*

ELECTRIC VEHICLES

New Survey Highlights Loyalty Towards Electric Vehicles

🚗 A recent Global EV Drivers Alliance survey reveals that 92% of electric vehicle owners intend to stick with battery-powered models, citing lower operating costs and environmental benefits as key motivators. The study surveyed 23,000 drivers across 18 countries, including the USA, India, and Norway.

• Only 1% of respondents plan to return to fossil-fuelled vehicles.

• 4% indicated a preference for plug-in hybrids instead.

• Participants expressed satisfaction with their EV choice, reflecting a global trend.

• Key concerns include insufficient charging infrastructure, seen as a significant barrier to EV adoption.

• Experts emphasise the need for competitive pricing and improved charging networks to encourage potential buyers.

The survey highlights the enduring appeal of EVs, with financial and environmental advantages outweighing existing challenges. As investments in infrastructure and affordability progress, the findings signal a promising future for electric vehicles globally.

INFRASTRUCTURE

Study shows EV Batteries may last 40% Longer than Expected

🔋 A new study from the SLAC-Stanford Battery Centre reveals that real-world driving conditions could extend the lifespan of electric vehicle batteries by up to one-third compared to traditional laboratory predictions. The research, published in Nature Energy, highlights how varied driving behaviours, such as stop-and-go traffic and long periods of inactivity, slow battery degradation more effectively than lab simulations.

• Lab tests using constant charge-discharge cycles fail to replicate everyday driving conditions.

• Testing 92 commercial lithium-ion batteries over two years showed dynamic driving profiles improved longevity.

• Firm accelerations were found to slow battery aging, contrary to previous assumptions.

• Researchers recommend revising EV battery management software and testing methods.

These findings may optimise EV performance, reduce battery replacement costs, and impact other sectors like energy storage and solar technology, showcasing the importance of interdisciplinary innovation.

CLEAN ENERGY

Australia Announces 20 GW Wind Farm off Bass Strait

☀️ The Australian government has designated a 7,100-square-kilometre area in the Bass Strait, off northern Tasmania, for offshore wind development. This zone has the potential to generate 20 GW of renewable energy, advancing Australia's clean energy ambitions.

• The area was reduced by 30% from initial proposals following consultations with stakeholders, ensuring it is at least 30 kilometres offshore and includes a shipping lane.

• Developers can apply for feasibility licences until March 2025, requiring proposals to demonstrate economic and energy security benefits.

• Tasmania’s world-class wind resources and sustained wind speeds above 8 metres per second make it a prime location for offshore wind.

• Community engagement and public consultation concluded in January of this year, reflecting broad support for the project.

This milestone positions Tasmania to further its reputation as an energy powerhouse, building on its current status of running entirely on renewable energy.

TECHNOLOGIES

Volvo Launches Autonomous Operations for DHL in Texas

📱 Volvo Autonomous Solutions and DHL Supply Chain have launched autonomous freight operations in the United States, utilising Volvo VNL Autonomous trucks powered by the Aurora Driver. This initiative seeks to validate systems for large-scale autonomous transport, with safety drivers monitoring operations on routes between Dallas, Houston, Fort Worth, and El Paso.

• The trucks feature advanced safety systems, including redundant critical systems, high-resolution cameras, radar, and long-range lidar.

• The collaboration aims to increase freight capacity, optimise supply chains, and enhance efficiency while maintaining robust safety standards.

• Infrastructure partnerships with dealers like Bruckner’s Truck & Equipment ensure operational support for autonomous fleets.

• Autonomous freight transport promises cost savings, improved safety, and 24/7 operational capabilities, benefiting supply chains and addressing driver labour shortages.

• Drivers may benefit from reduced physical demands and opportunities in remote fleet management.

This partnership highlights the transformative potential of autonomy in logistics, paving the way for safer, more efficient transport networks.

WATT ELSE?

• Farizon partners with Jameel Motors to enter UK market

• Ascend Elements to up production of lithium carbonate by 60%

• TotalEnergies and OQ Alternative Energy’s 300 MW projects

• GM to revise its autonomous driving development

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Answer: 40 Million

*As of 11:00am EST, on the same business day. Includes top movers.