Plus, stay tuned for what Elon Musk just did at the US Grand Prix which got everyone talking.
Big Discounts on Electric Vehicles: What You Need to Know
– The Tesla Model 3 saw a significant 17% drop in its base sticker price over the last year.
– Other carmakers, especially luxury brands, are now also offering their EVs at impressive discounts.
– In September 2022, the average price for an EV (excluding Teslas) in the U.S. was approximately $1,500 above the sticker price.
– Fast forward a year to September 2023, the average EV was being sold for around $2,000 less than the sticker price, a trend backed by Edmunds’ data.
– In comparison, the average new vehicle, irrespective of being electric, was sold at a price roughly $900 less than its sticker price as of the last month.
– Specific vehicle discounts shed light on the trend. For example:
– Buyers of the Audi E-Tron GT, which has an average sticker price nearing $119,000 (when considering options), have been receiving discounts surpassing $7,200.
– The Volkswagen ID.4 comes with an average discount of around $2,900.
– The Nissan Ariya, on the other hand, averages a discount of about $2,200.
Colorado’s Ambitious EV Transition: Key Targets by 2035
– The Colorado Air Quality Control Commission has mandated an uptick in electric vehicle offerings, starting from the 2027 model year.
– By 2032, a whopping 82% of all new vehicles sold in Colorado need to be either fully electric or zero-emission.
– The state has an aspirational target to see over 2 million electric cars and trucks cruising on its roads by the year 2035.
– Not just passenger cars, but the commercial segment will see a transformation too. The state has set a requirement for 40% of semitrailers and large trucks sold in Colorado to be zero-emission by 2035.
– It’s important to note, however, that these rules don’t translate to a ban on the sale of gas-powered cars and pickup trucks. They’ll still be available for those who choose them.
Cadillac Lyriq’s Q3 2023 Performance Highlights
– In Q3 2023, Cadillac Lyriq reported sales of 3,018 units in the U.S. and an additional 317 units in Canada.
– Despite these numbers, Tesla Model Y continued its dominance in the sector, witnessing a significant 74% increase in sales, with 94,000 units sold.
– Bringing the total deliveries in 2023 into perspective, the Lyriq boasts a total of 5,334 units delivered in the first three quarters.
– Customers in the U.S. have the flexibility to choose from three distinct trim levels for the Lyriq: Tech, Luxury, and Sport. Additionally, both rear-wheel and all-wheel drive are options for each trim.
– Looking ahead to 2024, Cadillac has plans to introduce the Lyriq-V. Designed to be a performance-centric version, this model promises:
– Enhanced power and a more assertive aesthetic. Standard all-wheel drive. Upgrades in both suspension and braking systems.
– From a technical standpoint:
– The rear-wheel-drive Lyriq models offer a maximum range of 314 miles on a single charge and have a motor output pegged at 340 horsepower.
– Opting for the all-wheel-drive model sees a slightly reduced range of 307 miles, but the power gets a substantial boost with motor outputs reaching 500 horsepower.
Smooth Sailing for Tesla Giga Berlin Expansion
– Tesla recently concluded the objection filing process related to the expansion of its factory in Grünheide, Germany.
– Out of the 1,079 objections filed, Tesla feels confident about their assessment. The company notes that many objections mirror each other, labeling them as “sample objections.”
– These “sample objections” mean the company will likely face fewer detailed discussions compared to the community engagement sessions held in 2020 and 2021.
– An update on the factory’s environmental impact, specifically regarding water usage, was provided by Environment Minister Axel Vogel.
– Contrary to initial expectations, Tesla’s water consumption at the Grünheide location has been substantially lower. While the company had an agreement permitting them to use up to 1.8 million cubic meters of water annually, they reported using just 0.3 million cubic meters in the past year.
Rivian R1T Clinches First in Major US Off-Road Rally
– The Rivian R1T made history as the first EV to snag the top spot in the Rebelle Rally, which is hailed as the longest map-and-compass-based off-road rally in the U.S.
– The competition, now in its eighth year, saw all-female teams navigating a 2,120-kilometer course exclusively with paper maps, compasses, and plotters.
– With Lilly Macaruso driving and Alex Anderson, both of whom work for Rivian, handling navigation, the 2023 Rivian R1T clinched the victory in the 4×4 category. Interestingly, no EV has managed a podium finish in the X Cross class so far.
– A notable aspect of this victory is that the Rivian R1T was “bone stock.” This implies that apart from the tires, no other modifications were made to the vehicle that could influence its performance.
– One of the primary hurdles faced during the rally was the EV charging infrastructure. Specifically, the 10-day event needed a massive 800 kilograms of green hydrogen. Charging stations available for participants throughout the competition.
Tesla Cybertruck Spot Auctioned for $10K on eBay
– The Tesla Cybertruck has accumulated over a million reservations, causing prospective buyers to potentially face a delay of up to five years for delivery.
– Due to the overwhelming demand and wait times, some reservation holders are selling their spots on eBay. Prices for these Cybertruck reservation slots range from $5,000 to a whopping $10,000.
Musk’s Cybertruck Entrance at F1 Race: A Masterstroke in Free Publicity
– Tesla’s CEO, Elon Musk, made a noticeable appearance at an F1 race in Austin, Texas, arriving in the much-discussed Cybertruck.
– This grand entrance is viewed by many on social media as a brilliant free marketing strategy for Tesla, a company known to steer clear of traditional paid advertisements.
– A video capturing Musk’s stylish entrance to the race has already garnered over 600,000 views online.
– Some social media users, echoing the sentiment, termed Musk’s move as “the best ad ever” and lauded it as a smart play at “free advertising.”
– On-site event staff had to guide spectators away to make way for Musk’s drive-through.
Chinese EVs Inspire Bolder Concepts at Porsche
– Michael Mauer, with nearly two decades of experience in designing Porsche 911s and Cayennes, acknowledges the influence of new EV brands, primarily from China, on German vehicle designs.
– The advent of these startups, which don’t carry a long heritage, brings fresh, disruptive ideas to the table. Their unique designs have made traditional automakers more willing to experiment.
– Mauer commented on the situation, stating, “These startups, with no heritage, they can do things completely different.” He sees this influence as a positive change, noting that it has made senior decision-makers, such as those on the management board, more receptive to innovative concepts.
– Oliver Blume, the CEO of VW, recently emphasized the importance of design in their strategy. He aims to appeal to more electric vehicle enthusiasts and address the company’s dwindling market share in China.
BMW EVs Outpace Mercedes in US Sales Time
– Recent data from a study by *Edmunds*, referenced by *Automotive News*, reveals that BMW electric vehicles (EVs) are sold faster at US dealerships compared to Mercedes-Benz EVs.
– A BMW “i” model electric vehicle typically sits on a dealership lot for an average of 38 days before finding a buyer.
– In contrast, Mercedes-Benz dealerships take considerably longer to sell an “EQ” model, averaging a significant 82 days.
– To put things into perspective, the overall industry average for selling luxury electric vehicles stands at 57 days.
– In related news, BMW has chosen not to introduce the iX1 and iX2 models to the American market. Similarly, Mercedes has held back on offering its entry-level EV, the EQA, to US customers. On the flip side, the more spacious EQB is available in the US and can be configured with either five or seven seats.
Renault’s 2024 EV Line-Up Revealed
– 2024 marks the year when Renault’s electric lineup gets a significant revamp, introducing three highly-anticipated models, enhancing the brand’s entry-level range.
– Renault’s classic models, the Renault 5 and Renault 4, are set to be reintroduced as electric versions, generating much excitement in the EV community.
– The Renault 4 E-Tech Electric has already been given a sneak peek through two 4EVER concept cars. These previews suggest a design reminiscent of a compact yet robust SUV with an elevated stature.
– The all-new electric Renault 5 is slated for its grand unveiling in 2024. This model is set to succeed the ZOE and will find its spot in the B-segment. In essence, it will serve as the electric counterpart to the well-loved Clio.
– One of the standout features of these upcoming electric vehicles is their foundation on the CMF-A modular platform. This strategic choice, combined with a meticulous selection of components – from batteries and motors to inverters and suspension systems, will pave the way for cost-effective production. The resultant pricing is expected to be competitive, aligning closer to traditional vehicles.
– Renault isn’t stopping there; they’re also introducing the Renault Scenic E-Tech Electric. Potential buyers can choose between two variants:
– A model boasting a 60 kWh battery pack paired with a 158 bhp motor.
– A more performance-oriented version equipped with an 87 kWh battery and a powerful 215 bhp engine. Notably, both these configurations will employ a front-wheel-drive system.
Revolutionary Scania Electric Bus Platform Debuts
– Introducing the Scania Castrosua BEV, a top-of-the-line rear-wheel-drive bus.
– Two performance configurations are on offer:
– A four-battery setup boasting a 416 kWh capacity.
– A five-battery arrangement, pushing capacity to 520 kWh.
– In optimal conditions, the respective ranges for the configurations are:
– Over 400 km for the four-battery variant.
– Beyond 500 km for the five-battery version.
– The advanced battery technology is a collaborative effort between Scania and Northvolt.
– With its capabilities, the Scania Castrosua BEV is perfectly suited for a range of operations, from medium-duty city and suburban routes to heavier regional transit tasks.
EV Pickups Face Challenges and Demand Fluctuations
– Tesla plans to deliver the Cybertruck to a select group of customers starting November 30.
– Elon Musk anticipates “enormous challenges” in Cybertruck production, predicting a reach of 250,000 units by 2025.
– Ford’s Lightning sales decreased by 46% year over year, amounting to 3,503 vehicles in Q3. Due to reduced demand, Ford temporarily cut a shift at its F-150 Lightning electric pickup plant in Detroit.
– GM is also experiencing reduced demand for EV pickups. GM will delay the conversion of its Orion Assembly plant in Michigan, pushing production of the Chevrolet Silverado EV and GMC Sierra EV to late 2025.
– To address pricing concerns, Ford is offering $7,500 cash rebates for certain Lightning trim levels.
– Rivian delivered 15,564 vehicles in the third quarter, exceeding Wall Street estimates and marking a 23% increase from the second quarter.
– Rivian targets coastal and higher-income buyers interested in recreational activities rather than the work truck market like Ford and GM.
– Tesla buyers typically do not prefer trucks, and conversely, truck buyers have not fully embraced electric vehicles.
Samsung & Hyundai Finalize EV Battery Partnership
– Hyundai, the world’s third-largest automaker, previously used batteries mainly from LG Energy Solution and SK On.
– Hyundai predominantly used pouch-shaped batteries in their EVs rather than the prismatic ones that Samsung SDI specializes in.
– Samsung SDI recently confirmed an agreement to supply Hyundai with prismatic batteries for their European-made electric vehicles.
– Batteries will be produced at Samsung SDI’s Hungary facility and will be supplied for seven years, spanning from 2026 to 2032.
– Exact financial terms and volume of the deal weren’t made public, but insiders anticipate Samsung SDI might provide batteries for up to half a million high-performance electric vehicles.
– The battery product from Samsung SDI, known as the “P6,” represents the sixth iteration of their prismatic battery. This high energy density battery is enriched with 91% nickel in its cathode and incorporates silicon-based anode materials.
EDF and Pod Point Unveil UK’s Most Affordable EV Home-Charging Plan
– EDF has collaborated with charge point provider Pod Point to introduce a new electric vehicle home-charging tariff, touted as the most economical in the UK.
– The tariff, named Pod Point EV Exclusive Tariff, targets both existing users and new patrons who opt for the Solo 3 home charger and decide to use EDF as their energy provider.
– A notable feature of this tariff is the cost-effective rate of 7.4 pence per kilowatt hour for energy consumed between midnight and 5am. This timeframe is ideal for EV owners to set their cars for charging.
Tesla Ups 2023 Capital Expenditure Beyond Initial Forecast
– Tesla has announced that its 2023 capital expenditure is poised to surpass the earlier projected range of $7 billion to $9 billion.
– This adjustment comes in light of Tesla’s aggressive manufacturing expansion strategies and the impending launch of new car models.
– Recent factory modifications in Q3 resulted in a dip in deliveries and impacted earnings. However, Tesla is on track to commence shipments of the revamped Model 3 sedan and the much-anticipated Cybertruck by year’s end.
– Official regulatory documents indicate that the company anticipates its capital spending to align with the original $7 billion to $9 billion estimate for the subsequent two years.
– Earlier in the month, Elon Musk hinted at potential manufacturing plans in Mexico, emphasizing the company’s navigation through an unpredictable economic landscape.
– Musk also highlighted concerns about rising interest rates, suggesting they could potentially dampen Tesla’s demand. Notably, Tesla has engaged in a pricing strategy this year to maintain sales, even if it means reduced profit margins.
Japan’s Automakers Set to Exhibit EV Commitment at Mobility Show
– The Japan Mobility Show this week serves as a platform for local automakers to demonstrate their dedication towards achieving carbon neutrality and transforming transportation.
– Prominent Japanese car manufacturers, including Toyota Motor, Honda Motor, and Nissan Motor, have previously faced criticism for their slow transition away from gasoline vehicles.
– In 2022, electric vehicles made up a mere 1.5% of new car sales in Japan, a statistic that puts them behind many other affluent nations in EV adoption.
– Nevertheless, the majority of Japanese automakers are now pledging to amplify their EV production rates and substantially decrease the carbon footprint of their vehicle offerings.
– Despite these commitments, the mainstream market launch of these electric vehicles from Japanese manufacturers is anticipated to occur in 2025 or later.
PHIL ROBERTS / ELECTRIC FUTURE
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