Tag: Tesla

Tesla’s China factory is set to begin production late next year, Shanghai government says

Qilai Shen | Bloomberg | Getty Images
A Tesla Motors Model S electric automobile at one of the company's electric charging stations in Beijing on March 9, 2016.

Tesla is on pace to begin production at its factory in China in the second half of next year, the Shanghai government said Wednesday.

Land leveling is basically complete and construction is about to begin, with the factory expected to be put partially into operation in the second half of 2019, according to an official WeChat post from the government. The article described a visit by Shanghai Mayor Ying Yong and Vice Mayor Wu Qing.

Tesla did not immediately respond to an emailed request for comment.

In mid-October, Tesla officially acquired an 864,885-square meter plot in Shanghai's Lingang area for the electric car maker's first factory outside the U.S.

Elon Musk's company has also launched an official WeChat account for hiring locals.

Producing in China, the world's largest market for electric vehicles, would allow Tesla to reduce costs significantly. The company has said it is operating at a 55 percent to 60 percent cost disadvantage with a domestic peer due to ocean transport costs and tariffs.

Tesla (again) says buyers must order today for full tax credit

Tesla Model 3 all-wheel drive Performance rolls off a new assembly line in a temporary structure
If you want to buy a Tesla and get the full tax credit, today is your last day to order for Tesla to guarantee delivery by December 31.

With the tick-over of the new year, the federal tax credits on Teslas will be reduced from $7,500 to $3,750.

That could raise base price of a Tesla from $39,700 after the tax credit to $43,450 (including delivery fee).

DON'T MISS: Tesla sells 200,000th car, starting phaseout of federal tax credits

The order deadline to receive the full tax credit applies to any Tesla model, the Model S, Model X, or Model 3.

The federal tax credits were structured so that after any automaker sells 200,000 plug-in cars, the credits start a wind-down period. At that point, buyers can continue to claim the credit for the remainder of that quarter and for the full quarter following. After that, the credits are cut in half for six months, in half again for another six months, and get eliminated completely after that.

Tesla crossed the threshold last July, and the end of this year marks the last of its full credits.

CHECK OUT: Tesla sets Monday deadline for full tax credit

The company has joined forces with GM, Nissan, and other automakers, along with other electric-car advocates to lobby for the credits to be extended and restructured so they expire simultaneously for all automakers. That lobbying effort has just begun.

This is the second time Tesla has repeated the message that buyers have to order now to be guaranteed the full credit. On October 12, the company claimed they wouldn't guarantee that orders placed after October 15 would receive the credit.

Refuting that warning, the company sent out a notice just last week, setting today (Friday) as the new date, which the company confirmed today.

READ THIS: EV Drive coalition begins lobbying effort to save tax credit

The good news for Tesla and its fans is that this indicates the company has been able to produce cars more quickly than it anticipated in early October.

Many buyers have been able to buy Teslas directly from the company's inventory and take delivery in a matter of hours or days in the past several months. If you want the full tax credit, that option is likely to continue until near the end of the year. As long as buyers take delivery of their car by Dec. 31, the full tax credit applies. Pictures of lots overflowing with inventory around the country have become a fixture of Twitter and forums for weeks. Even so, based on deliveries, the Tesla Model 3 became the fifth bestselling sedan in the country in the third quarter.

Those who want to make custom selections from the options or color menu, however, need to do so today, the company says, or they could lose the full tax credit.

Truly, at some point, Tesla won't be able to fulfill a new order before Dec. 31. This might be that point, though it's hard to say for sure.

Tesla changes plans to start Model Y production – Business Insider

FILE PHOTO: A Tesla car is seen in Santa Monica, California, United States, October 23, 2018. REUTERS/Lucy Nicholson (Reuters) – Tesla Inc had plans to build its pilot small electric SUV Model Y at Gigafactory 1 by June 1, 2020, the Business Insider reported on Monday, citing leaked internal documents, but said the company changed… Continue reading Tesla changes plans to start Model Y production – Business Insider

Volkswagen and Tesco to build UK’s biggest free car-charging network

Volkswagen
A Volkswagen car charging outside a Tesco supermarket.

German auto firm Volkswagen and U.K. grocer Tesco have teamed up to build the largest free electric car charging network in Britain.

The two firms announced Friday that over the next three years they will install nearly 2,500 charging points in the parking lots of up to 600 Tesco stores across the United Kingdom.

Volkswagen U.K. board member Mike Orford told CNBC by phone that his company wants to encourage people towards electric vehicle ownership by removing anxieties about when and where a car can be charged.

“People that live in a flat who might want an electric car can't charge at home as they have to park in the street. If they say, 'Actually, I know I go to Tesco twice a week for a shop,' then this suddenly feels quite viable,” he said.

Figures from the Society of Motor Manufacturers and Traders (SMMT) have revealed that more than 120,000 'alternatively fueled vehicles' have been registered in the U.K. in 2018 — a 22 per cent increase on the same period last year.

Installed by the charging network operator Pod Point, customers at larger Tesco sites will be able to choose between a free 7-kilowatt (kw) charger or a pay-as-you go rapid charge 50 kw option.

Orford said people wouldn't need to be a Tesco customer to make use of the charge points, but the parking bays would be monitored in the same way as disabled or “mother and baby” spots.

Volkswagen hopes the use of the bays, which should be compatible with most makes of electric cars, will become habitual to shoppers.

“It is a bit like plugging in your mobile phone, most of us don't wait until the battery is flat,” Orford said, before adding, “People can get a quick 10-minute charge while just buying a pint of milk.”

The cost is being borne by both Volkswagen and Tesco, but beyond stating that it is a “multi-million pound” initiative, neither company is revealing the expected outlay.

Volkswagen Group has said its VW brand should sell a million electric cars a year by 2025. The auto group announced earlier this month it would spend almost 44 billion euros ($50 billion) on developing electric cars, autonomous driving and new mobility services by 2023.

On Wednesday, Volkswagen confirmed it is deciding where to locate a new factory in North America to build electric vehicles for the U.S. market.

Clarification: This story has been updated to reflect that the charging points will be in the parking lots of up to 600 Tesco stores.

WATCH: A visit to the only Tesla Supercharger station with a lounge

CNBC visits the only Telsa Supercharger station with a lounge
8:59 AM ET Sat, 27 Jan 2018 | 02:20

ChargePoint raises $240 million to expand charging-station network

2014 BMW i3 REx fast-charging at Chargepoint site, June 2016 [photo: Tom Moloughney]
ChargePoint, the largest network of electric car charging stations, announced last Wednesday that it has raised $240 million to become even bigger.

The investment comes at a pivotal moment after ChargePoint CEO Pasquale Romano in September announced an ambitious goal to build enough chargers to juice up 2.5 million electric cars worldwide.

The latest investment, along with that goal, should help keep ChargePoint competitive with other rapidly growing charging networks in the U.S. and Europe.

DON'T MISS: ChargePoint commits to build charging stations for 2.5 million cars by 2025

Although ChargePoint is the largest and one of the oldest electric-car charging networks, the competition is coming on strong. Under a court mandate to settle charges over diesel emissions cheating, Volkswagen is setting up the Electrify America network to rival Tesla's Superchargers across the U.S. It is building Phase One of its planned rollout with 484 public charging locations consisting of 2,000 chargers, most of them DC fast chargers, and is planning the rollout of Phase 2, starting next year.

In Europe, ChargePoint's next big market, major automakers BMW, Daimler, Ford, and the Volkswagen Group have banded together to build the Ionity network of fast chargers around the continent.

READ MORE: ChargePoint users can now access networks in Canada, Europe

Other long-time competitors such as EVgo are also expanding, and Tesla CEO Elon Musk announced this month that the company will double the size of its Supercharger network next year.

ChargePoint's latest investment—it's seventh round for anyone counting—comes from electric utility American Electric Power, Chevron, Daimler trucks and buses, BMW, and Siemens and energy investment fund Quantum Energy (the lead investor).

CHECK OUT: Musk announces more and faster Tesla Superchargers on the way

One of ChargePoint's strategies is to focus on building high powered charge points for trucks and buses, including municipal bus fleets, a market where there isn't as much competition.

At the same time, the company plans to continue to build more chargers for cars if it intends to keep the commitment it made at California Governor Jerry Brown's Global Climate Action Summit in September.

“We are at a tipping point in the generational shift to transportation electrification,” says ChargePoint President and CEO Pasquale Romano. “Leading investors from automotive, utilities, oil and gas, and financial institutions are coming together to support ChargePoint’s vision of an all-electric future as the mass adoption of electric mobility and the transition to electric fleets accelerate.”

Robot couriers scoop up early-stage cash

Joanna Glasner Contributor More posts by this contributor Getting personal: Funding rises for software-driven tastemakers The alumni of these universities raised the most VC in the past year Much of the last couple of decades of innovation has centered around finding ways to get what we want without leaving the sofa. So far, online ordering… Continue reading Robot couriers scoop up early-stage cash

Top Automotive Industry News for Week of October 15 – October 21, 2018

Here is the most important news associated with the automotive industry
identified by the AEA for the week October 15, 2018 – October 21, 2018.

We hope it helps you stay up to speed on the key developments in our
industry:

-AEA Membership News-

AEA Reception is tonight in Las Vegas. See you there!

-Automotive Manufacturing News-

Audi slapped with a $930 million fine by German prosecutor for its
diesel cheating scandal

(CNBC)

Daimler Cuts Earnings Estimates as Outlook Gets Tougher

(The Detroit Bureau)

Ford's new 'Proud' ad campaign features Bryan Cranston from
'Breaking Bad

(USA Today)

Ford and Volkswagen flirting with relationship possibilities and
joint projects

(USA Today)

Ford boosts production of its $400,000 GT supercar as demand
outpaces supply six-to-one

(CNBC)

Ford seeks to allay dealers’ worries with ‘comeback story’

(The Detroit News)

Frustrated GM investors ask what more CEO Barra can do

(Reuters)

GM Offers Extended Warranties As Reliability Ratings Improve And
Scammers Surge

(Forbes)

Hyundai's Nexo Stands Out As The First Truly Complete Fuel Cell
Electric Vehicle

(Forbes)

Judge approves Elon Musk settlement with SEC

(The Detroit News)

New Chips Improve Tesla Autopilot “500% to 2000%,” Musk Says

(The Detroit Bureau)

Porsche denies speculation that it's planning to go public

(CNBC)

Tesla buys new plot for China factory for $140 million

(CNBC)

Tesla, GM in line for EV boost under U.S. Senate bill

(Automotive News)

VW's Porsche expects to repeat record vehicle sales this year

(Reuters)

-Automotive Evolution News-

Clutch Looks To Increase the Number of OEMs, Dealers on Its
Subscription Platform by Year’s End

(Auto Finance News)

Future of electric-car tax credit up in the air

(The Detroit News)

Google’s Waze expands carpooling tool throughout U.S.

(The Detroit News)

How car subscription app Fair wants to disrupt the market for car loans
using subscriptions

(CNBC)

Kids' Ride Service Race Heats Up As Zūm Expands To Take On Kango,
HopSkipDrive

(Forbes)

Not everyone is ready to ride as autonomous vehicles take to the
road in ever-increasing numbers

(CNBC)

The Computer Chauffeur Is Creeping Closer

(The New York Times)

Waymo details how emergency services should deal with self-driving
incidents

(autoblog)

-Automotive Retail News-

Assurant Launches Mechanic 2.0

(Auto Dealer Monthly)

Best budget-friendly small cars include Kia, Honda, Hyundai and
Mazda sedans

(USA Today)

Black Book Valuation Data Now Integrated With CDK’s Lightspeed EVO

(Auto Dealer Monthly)

CarMax pinpoints where its sales of manual transmissions are
rarest, most common

(Auto Remarketing)

Change Is Coming to Automobile Dealerships

(Forbes)

Equifax: Vehicle Sales Down, Borrowing Up

(Auto Dealer Monthly)

GM Rolls Out Optional Extended Warranty

(Auto Dealer Monthly)

-Automotive Wholesale News-

5 trends surface as wholesale-price softening accelerates

(Auto Remarketing)

Weekly Vehicle Values Fall Precipitously

(Vehicle Remarketing)

-Automotive Enthusiast News-

These Are the Most Valuable Cars Jerry Seinfeld Has Featured on
Comedians in Cars Getting Coffee

(Car and Driver)

-Automotive Servicing News-

Goodyear offers replacement tires at consumers' homes

(Automotive News)

Safety administration investigates Ford pickup tailgates opening
unexpectedly

(Detroit Free Press)

-General Business & Executive News-

Auto Classified Industry Veterans Skip Dowd and Ernie Blood Launch
MautoSearch

(Medium)

Car-shopping company Shift seeks to follow Carvana with 2020 IPO

(Automotive News)

Cox to shed staff as it restructures

(Automotive News)

Dealer Inspire Expands in Canada Offering New Digital Marketing Options
for Automotive Dealers

(Cars.com)

Google Adds EV Charging Stations to Google Maps

(Cars.com)

Report: Uber, Lyft each looking to go public in 2019 as rivalry
heads to Wall Street

(USA

Today)

Walmart to team with Advance Auto Parts for online store, lowers FY
2019 earnings forecast

(USA Today)

U.S. retail sales increase modestly; consumer spending strong

(Reuters)

-AEA Reminder-

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Elon Musk Tried to Bring “Mario Kart” to Your Tesla Model 3

Tesla Kart You know what’s really missing from your $35,000 Tesla Model 3? More video games. That’s at least what Elon Musk thinks, anyway. In a tweet yesterday, the Tesla CEO revealed that Teslas are about to get an update chock full of new features like “romance mode, toilet humor,” and, of course, “more video games.”… Continue reading Elon Musk Tried to Bring “Mario Kart” to Your Tesla Model 3

ChargePoint CEO On Tesla Superchargers & The Future Of EV Charging

CHARGEPOINT CEO TALKS ABOUT TESLA SUPERCHARGERS AND THE FUTURE OF EV CHARGING [VIDEO] ChargePoint is one of the world’s largest EV charging networks, with over 57,000 public chargers in several countries. The company’s CEO, Pasquale Romano, has been involved with public charging since the days when only a handful of people knew such a thing… Continue reading ChargePoint CEO On Tesla Superchargers & The Future Of EV Charging