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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

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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.

thyssenkrupp invests 60 million euros on industrialization of new damper technology

ESSEN, 25-Jun-2019 — /EuropaWire/ — thyssenkrupp opened a new automotive components plant in Sibiu, Romania which will produce dampers for customers including Daimler, Jaguar Land Rover and Porsche. thyssenkrupp invested around 60 million euros to build the new damper site.

“This is an investment not only in the targeted expansion of our European production network but also in newly obtained customer projects and new technologies. In Sibiu we will manufacture dampers to the highest technical standards for installation in our customers’ premium models. At the same time we are in the process of industrializing an entirely new generation of dampers for highly automated intelligent chassis systems,” commented Dr. Karsten Kroos, CEO of thyssenkrupp’s automotive division.

Active dampers of this kind provide an extremely smooth and comfortable driving experience by responding proactively to counter the forces acting on the chassis.

The new plant is an extension to the existing production site. thyssenkrupp produces both components and complete damper systems for automotive OEMs and aftermarket suppliers. The company’s investment in the new site has created more than 350 new jobs at the Sibiu location, which now employs around 1,000 people. thyssenkrupp has been producing dampers in Sibiu since 1996.

thyssenkrupp is one of the best-established manufacturers of damper systems. The company produces and markets chassis components under the Bilstein brand at eight locations in Europe, the USA and China. The damper business is part of thyssenkrupp’s components division, which produces high-tech components for the automotive and machinery sectors with over 34,000 employees worldwide. Its Components Technology business area achieved sales of around 7.9 billion euros in fiscal year 2017/2018.

Media contact:

Konrad Boecker
Components Technology Head of Communications and Press Office
Telephone: +49 201 844 553084
Cell phone: +49 173 8982102

SOURCE: thyssenkrupp AG

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UPDATE 1-Chinese electric automaker BYD opens first plant in Canada

FILE PHOTO: A charging spot is seen at the stage of Chinese automaker BYD during the opening day of the Shanghai Auto Show April 19, 2011. REUTERS/Carlos Barria (Reuters) – Chinese electric vehicle maker BYD Co Ltd said on Tuesday it had opened its first plant in Canada, which will initially focus on assembling buses… Continue reading UPDATE 1-Chinese electric automaker BYD opens first plant in Canada

Cinemo Acclaimed by Frost & Sullivan for its Modular and Feature-rich In-vehicle Infotainment Systems

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TEMSA Signs 46.5 Million Euro Deal in Romania

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Enterprise Holdings-Backed Booster Raises $56M in New Funding

With this new funding, the company has now raised a total of $88.5 million to unlock new markets and modernize today’s fueling experience and infrastructure. Photo courtesy of Booster. Booster, a same-day fuel delivery service, has raised $56 million Series C funding led by Invus Opportunities, with strong participation from existing partners Madrona Venture Group,… Continue reading Enterprise Holdings-Backed Booster Raises $56M in New Funding

BMW ‘could produce 100 electrified models by 2023 if demand was there’

BMW “could launch 100 electrified cars by 2023” if customer demand was there to buy them, according to the firm’s head of development, Klaus Fröhlich. His comments coincided with today’s announcement that BMW is pulling forward its electrified launch goal of 25 new vehicles by two years. Fröhlich says this is possible because of the flexibility of… Continue reading BMW ‘could produce 100 electrified models by 2023 if demand was there’