Plunging Gas Prices, Volvo Teams Up With Daimler, and Consumer Confidence in EVs
Cheap gas and no where to go as Coronavirus has most of us parked at home.
AAA puts the national average at about $1.76 a gallon. And they expect that number to dip even lower into may, possibly dropping as low as $1.65 a gallon. We haven’t seen those kinds of numbers since January 2009. Wisconsin, Oklahoma, and Ohio have some of the cheapest gas in the nation while Hawaii, California, and Washington state have some of the most expensive. While the Coronavirus pandemic plays a part, it’s not the sole reason why we’re seeing this drastic drop-off. Cheap crude oil prices, coupled with a price war between major producers, and a drop in demand because of stay-at-home orders, all factor in.
A joint venture between two auto makers could lead to a greener future.
Volvo and Daimler truck have teamed up to develop, produce, and commercialize hydrogen fuel cell systems for heavy-duty vehicles, like long-haul trucks and buses. The companies will remain competitors in all other areas of business, but say by joining forces, they’ll be able to cut down on development costs and will be able to come up with new technology quicker. They also point to the economic downturn making it more necessary for a collaboration.
And automakers across the board may have visions of self-driving and battery electric vehicles, but it looks like consumers aren’t so sure.
The J.D. Power Mobility Confidence Index study was just released. It surveyed more than 85 hundred people in the US and Canada and found that 67% of Americans surveyed don’t believe that technology or society, is ready for self-driving vehicles. When it comes to battery electric vehicles, 70% of the Americans who responded said they have never been in an electric vehicle and 30% say they know nothing about them. Charging station availability, range, and price are the top three concerns for battery electric vehicles and those were the same top three concerns when J.D. Power studied consumer interest in electric vehicles back in 1997.
Still a lot of work to be done on consumer’s perceptions and that does it for this week’s Motor News update.