Latest Trends and Developments in the Electric Vehicle Sector

Tesla Model 3 has a notable depreciation of 45% after three years, which stands out significantly when compared to traditional gas-powered vehicles like the Toyota RAV4, which depreciates at a rate of 22% over the same period In other news, The London Electric Vehicle Company (LEVC), renowned for its iconic London taxis, has enhanced its financial and developmental capabilities through a significant capital influx Its Chinese parent company, Geely, has committed £120 million in investment to foster the development of LEVC’s new electric vehicle platform, Space Oriented Architecture (SOA). This strategic capital investment was executed in two phases, with £70 million released in October followed by an additional £50 million subsequently.