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Rise in EV Sales Amidst Increasing Payment Challenges

As U.S. EV sales show mixed results, payment issues at charging stations remain a hurdle for mass adoption and consumer ease.

As U.S. consumers hit the road this summer, the state of electric vehicles (EVs) is at a critical juncture, with the payments industry addressing key issues to support growth.

Electric Vehicle Sales Update

Major automakers have reported mixed results for their second-quarter 2024 EV sales, with notable successes. Ford’s EV sales surged 61% year-over-year in Q2, with 23,957 units sold. The F-150 Lightning saw a 77% increase, while sales of the Mustang Mach-E and E-Transit grew by 46% and 96%, respectively. In the first half of 2024, Ford sold 44,180 EVs, marking a 72% increase from last year. Ford’s CEO, Jim Farley, highlighted the company’s focus on introducing smaller, more affordable EVs to compete globally.

Tesla delivered 443,956 EVs globally in Q2, surpassing Wall Street’s estimate of 439,302. However, this represented a 4.8% year-over-year decline, following an 8.5% decline in Q1. Tesla’s production decreased by 14% to 410,831 units due to a factory shutdown in Germany and shipment disruptions. Tesla aims to focus on affordable cars and its energy storage segment for future growth.

GM reported selling 21,930 EVs in Q2 2024, a 40% increase from the same period in 2023, driven by the Cadillac Lyriq and Chevrolet Blazer EVs. GM’s EV sales in the first half of 2024 reached 38,355, up 6% from 36,322 units in the first half of 2023. All EVs sold this year utilize GM’s new Ultium propulsion system. GM plans to reintroduce the Bolt with Ultium technology in 2025.

Payment Issues

Consumer apprehension about EVs often stems from access to charging stations and the ability to pay for charging services. A JD Power report in May highlighted concerns about affordable vehicles, charging availability, and a lack of knowledge regarding EV ownership and incentives. Stewart Stropp, executive director of EV intelligence at J.D. Power, pointed out these barriers to mass consumer adoption.

Various payment companies have addressed the payment challenges at EV charging stations. For instance, Visa recommends installing Visa-accepting terminals and offering contactless payment options to enhance customer experience. Visa suggests digital payment solutions, such as mobile app payments, complemented with tap-to-pay options for accessibility. Using the correct merchant code (MCC 5552) is crucial for bank rewards and reducing service issues.

A recent U.S. Department of Energy report on best practices for payment systems at public EV charging stations addresses significant challenges in payment processes. Key issues include network connection reliability, hardware robustness, and payment system integration. The report emphasizes the necessity of strong network connections, durable card readers, and regular maintenance to ensure functionality. It also highlights the need for standardized user interfaces to reduce customer confusion and improve user experience.

The report states, “Failure to accept and process payment is a cause of public electric vehicle (EV) charging session failures,” underscoring the importance of reliable payment solutions to avoid service disruptions.

Original Story at www.pymnts.com

Trending News

Mississippi River Faces Persistent Saltwater Intrusion, Region Seeks Long-Term Solutions



For the third consecutive year, the Mississippi River is experiencing significant saltwater intrusion, prompting local communities and environmental experts to search for sustainable solutions. This recurring issue arises as the river’s flow decreases, allowing saltwater to move upstream and threaten drinking water supplies. The U.S. Army Corps of Engineers is actively involved in addressing this problem, employing temporary measures like saltwater barriers to mitigate the impact on affected areas.



Saltwater infiltration poses serious risks to public health and agriculture, as freshwater sources become compromised. The situation is exacerbated by prolonged periods of drought, which have reduced freshwater flow in the Mississippi River. According to the National Weather Service, drought conditions have worsened due to climate change, increasing the frequency and severity of saltwater intrusion events.



Local authorities are collaborating with federal agencies to explore permanent solutions. Among the proposed strategies are enhanced levee systems and improved water management techniques. The U.S. Army Corps of Engineers is evaluating the feasibility of long-term infrastructure projects to prevent further saltwater encroachment. Additionally, community leaders are advocating for increased funding to support these initiatives and safeguard the region’s water resources.



The impact of saltwater intrusion extends beyond drinking water concerns, affecting local ecosystems and agricultural productivity. Farmers in the region have reported crop damage due to elevated salinity levels in irrigation water. The Natural Resources Conservation Service is working with farmers to implement adaptive practices, such as planting salt-tolerant crops and improving soil management techniques.



As the Mississippi River continues to face challenges from saltwater intrusion, stakeholders emphasize the importance of collaborative efforts and innovative solutions. The ongoing threat underscores the need for comprehensive planning and investment to protect one of America’s most vital waterways from the impacts of climate change and environmental stressors.

November 19, 2024



Environmental activists have raised concerns over the fossil fuel sector’s significant impact on COP29, the latest United Nations Climate Change Conference. Activists argue that the industry’s presence diverts focus from critical climate actions.



The conference, designed to promote global climate agreements, faces criticism for allowing fossil fuel companies to participate extensively. Environmental groups claim these companies undermine efforts to reduce carbon emissions and transition to renewable energy sources.



According to Climate Action Network, fossil fuel representatives have increased their lobbying activities, aiming to weaken climate policies. These industries allegedly influence negotiations, leading to watered-down commitments that fail to address the urgency of climate change effectively.



Experts suggest that the influence of these companies stems from financial contributions and longstanding relationships with decision-makers. Critics argue that this affects the conference’s ability to enforce meaningful climate change regulations.



During the event, several protests highlighted the need for transparency and a stronger focus on sustainable energy solutions. Activists are calling for increased participation of renewable energy stakeholders in future conferences.



The controversy surrounding fossil fuel involvement at COP29 underscores the ongoing challenge of balancing industrial interests with the global imperative to combat climate change.



November 19, 2024