Chinese Government abolished its system for recommended list of electric vehicle battery manufacturers. Although it is uncertain whether decision will lead to subsidy being paid again, this decision is a positive sign for three South Korean battery manufacturers to enter Chinese market again.Ministry of Industry and Information Technology (MIIT) of the Chinese Government stated through… Continue reading Ministry of Industry and Information Technology of the Chinese Government Decides to Abolish System for Recommended List of Electric Vehicle Battery Manufacturers
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Self-driving startup Drive.ai is closing down
Drive.ai, the autonomous vehicle tech startup once valued at $200 million, is shutting down after four years, according to a state regulatory filing. The closure was first reported by the San Francisco Chronicle. The company is not responding to media inquiries, a PR rep told TechCrunch. The company’s Mountain View headquarters will close down on Friday,… Continue reading Self-driving startup Drive.ai is closing down
UPDATE 2-Tesla faces delivery bottleneck at close of Q2 -Electrek
FILE PHOTO: A Tesla Model 3 is seen in a showroom in Los Angeles, California U.S. January 12, 2018. REUTERS/Lucy Nicholson (Reuters) – Shares of Tesla Inc fell 1.7% on Tuesday after news website Electrek reported that the electric-car maker has so far delivered 49,000 vehicles in North America during the second quarter, threatening its… Continue reading UPDATE 2-Tesla faces delivery bottleneck at close of Q2 -Electrek
Tesla received a tariff exemption for the Japanese aluminum it uses for batteries
The US Commerce Department has agreed to Tesla‘s request to waive 10% tariffs on imported aluminum from Japan used in the manufacture of battery cells at Tesla’s Nevada Gigafactory, government documents show. Read more: Tesla is addressing one of its customers’ biggest complaints by starting to do collision repairs through its service centers and mobile… Continue reading Tesla received a tariff exemption for the Japanese aluminum it uses for batteries
Faraday Future fires dozens of employees on unpaid leave
Sputtering electric vehicle startup Faraday Future has fired dozens of employees who have been on unpaid leave for months, including manufacturing workers hired to staff the company’s factory in Hanford, California, The Verge has learned. The workers received benefits during this furlough, which started in late 2018, and it had already been extended once already.… Continue reading Faraday Future fires dozens of employees on unpaid leave
Peter Thiel-backed auto commerce startup Drive Motors has a new name and $5M in capital
Not that long ago, visiting the website of an auto dealership was a little like going to a store without a cash register. The retailer’s website might list all the cars, trucks and SUVs in its inventory, but there would be no way to actually buy one online. A digital commerce startup called Drive Motors… Continue reading Peter Thiel-backed auto commerce startup Drive Motors has a new name and $5M in capital
Motorway launches new dealer stock acquisition platform
Motorway has today announced the launch of its dealer stock acquisition platform Motorway Pro, as well as an £11m funding round from technology investors. Motorway Pro platform allows consumer sellers to see offers from dealers, alongside instant prices from online car buyers. Dealers can bid for a vehicle submitted by seller over a 24 hour… Continue reading Motorway launches new dealer stock acquisition platform
GM to invest $20M in Texas to build next SUVs
Original Article
Regional discounts can make electric cars a steal
In some places, you almost can't afford not to buy an electric car.
Adding regional incentives to state and federal incentives can cut the price of some electric cars nearly in half and make them cheaper than some used cars or the most basic of new gas models. Consider that electric cars never need gas or oil changes, and buyers can come away with lower monthly costs than just buying gas for an older car.
These state and regional incentives—along with occasional special fees charged on electric-car buyers—can make or break the purchase of an electric car.
The best example currently is in Denver, incentives from a local dealer and utility company pile onto the $5,000 Colorado tax credit, and federal tax credits to cut as much as $19,500 off the purchase price of a Nissan Leaf. That's more than the base MSRP of a Honda Fit, a Hyundai Elantra, or a Mazda3.
As in Denver, local energy companies often play a big part in such discounts. Xcel Energy, a local Colorado utility, has partnered with Tynan's Nissan in Aurora to offer the program. Xcel and Tynan each kick in a $3,500 cash incentive, which, combined with the Colorado state tax credit and the $7,500 federal tax credit, can get buyers into a base Nissan Leaf for as little as $11,665.
Payments on a five-year loan at 5 percent interest could be as little as $220 a month. That's less than some Denver drivers may pay for gas every month.
Colorado is working hard to spread electric cars among its population to improve air quality in the region. Denver may be the most compelling place to buy a Nissan Leaf, but other regions also offer compelling deals.
– Buyers in nearby Fort Collins, Colorado, offers buyers a $9,000 group-purchase discount on top of state and federal tax credits that can make Leaf purchases even cheaper than in Denver.
– Connecticut offers electric-car buyers a $3,000 state tax credit, and some state utilities add thousands more. Norwich Public Utilities offers a $1,000 rebate for those who buy or lease a new or used electric car.
– Oregon offers a tax incentive of $2,500, which buyers can add to a $3,500 rebate on Nissan Leaf purchases through the local utility Portland General Electric.
– State, county, and municipal tax exemptions in Seattle can add up to more than $2,500 per car.
No matter where you live, it's worth seeking out these local discounts and incentives. They can make choosing an electric car even more affordable.
Porsche reveals insurance program: At ease, Taycan electric-car buyers
By the time the 2020 Porsche Taycan launches late this year, Porsche owners in three states will likely be able to choose a new kind of per-mile insurance offered through the sports-car brand.
Especially for those planning to make a leap to the Taycan, it could amount to some peace of mind. For those new to electric cars, insurance can often be a bit of a rude awakening.
Yes, in terms of maintenance, energy costs, and wearable items like brake pads, EVs are cheaper and involve less hassle. But wildly varied electric-vehicle claims rates have left insurers to take a conservative tack with EVs, resulting in some steep rate hikes. The most noteworthy of those was in 2017, when AAA looked at its own data and that from the insurer-funded Highway Loss Data Institute and, despite stellar safety ratings, decided to raise rates on the Tesla Model S and Model X by 30 percent.
2013 Tesla Model S crash test by NHTSA (Image: crashnet1 Youtube screen grab)
Tesla, which recently started offering leases, will soon also launch its own insurance product in which it might share data from its vehicles and Autopilot sensors.
The Porsche insurance program, administered in partnership with Mile Auto and Porsche Financial Services, doesn’t involve the collection of the vehicle’s location, or when and how it’s driven. Mile Auto’s solution simply involves submitting a photo of the vehicle odometer at regular intervals.
“No other information is collected from the vehicle or customer,” Porsche Financial Services assured Green Car Reports.
Porsche Taycan prototype
Although the timing of the program is perfect for those electric-vehicle concerns, Porsche says that the program was developed independent of the Taycan launch. It will cover the Taycan as well as every Porsche model going back to the 1981 model year.
Porsche Financial Services is the captive finance provider for Porsche as well as Bentley, Lamborghini, and Bugatti.
There’s one big “if” to this program: So far, you need to be in Illinois and Oregon this year, although Porsche aims to offer it in a third state by the end of the year. Rollout of the program to more states remains under evaluation; but given Porsche's plans to embrace electric with more models in the near future, it's an extra bit of assurance.