electric vehicle

In Austin, one company is giving classic vehicles a high-tech second life — and inspiring a little business envy along the way.

With federal tax credits gone and carmakers refocusing on gas-powered SUVs and trucks, the electric vehicle market was already struggling. The rising cost of fuel and a growing stock of used EVs change the math for consumers.

Even as federal support for EVs wanes, big companies, including major automakers and retailers, are building networks of fast chargers, often accompanied by amenities.

EV sales jumped 15% year on year and the growth of charging facilities hit a record as businesses see profit potential.

Charging stations could become a sought-after amenity, though structural and cost issues may come into play.

The drilling byproduct could power future electric vehicles and expand the U.S. role in clean energy. Extraction methods are in development.

“If we have a China that’s growing more slowly, there’s less opportunity” globally, says economist Adam Posen.

Chinese automaker BYD, which sells both hybrids and pure EVs, likely surpassed Tesla’s total vehicle sales last year.

There’s an electric vehicle charging desert in Wyoming and private businesses are taking matters into their own hands. The state remains hesitant.

Price dips and and an expansion of models to choose from contributed to the boost in third-quarter purchases.