Author: Benedict Mcdaniel

Acura has kicked off deliveries of its first all-electric model in the U.S. and is already rolling out enticing discounts for the ZDX. The deals, particularly attractive for lessees, could slash over $11,000 off the price, depending on the trade-in vehicle. The ZDX qualifies for a $7,500 federal tax credit, applicable to both lease and purchase options, as confirmed by the Department of Energy. While the leasing financial entity typically receives this credit, Acura is passing the full $7,500 incentive to lessees for the ZDX. To further sweeten the deal, Acura is introducing a Launch Lease Support program, adding $2,875…

Aptera Motors, a solar electric vehicle (EV) startup, has announced a novel investment opportunity to encourage public participation in its technology ahead of its planned initial vehicle production later this year. Starting today, individuals can invest in Aptera through a self-directed Individual Retirement Account (IRA), aimed at diversifying the company’s investor base. Co-founded by Steve Fambro and Chris Anthony, Aptera Motors has been a pioneer in the EV sector, particularly in solar-powered vehicles. The company’s commitment to innovation has made it a leader in zero-emission mobility, with plans for scaled production. Scaling up operations is a significant challenge for any…

Varta is spearheading the ENTISE research project, which aims to develop an innovative cell chemistry for sodium-ion batteries. The project, named ‘Development of Sodium Ion Technology for Industrially Scalable Energy Storage’ (ENTISE), is a collaboration between 15 companies and universities and is set to begin on June 1st for a duration of three years. The core objective of the project is to create “industrially usable, high-performance and environmentally friendly cells,” as stated in a press release. The German Federal Ministry of Research and Education is funding the project with approximately 7.5 million euros. The project will focus on producing sufficient…

German automaker Mercedes-Benz joined the ranks of EU-based automakers releasing their Q1 2024 financial reports, showcasing robust profits amid shifting market trends. Remaining a stalwart in luxury vehicles, Mercedes-Benz has been steadily expanding its electric vehicle (EV) lineup, including the revamped EQS sedan for 2025 and the recent unveiling of the all-electric “G580 with EQ technology,” a nod to the iconic G Class. While the Q1 2024 report revealed a slight drop in revenues, with earnings before interest and tax (EBIT) at €3.86 billion ($4.18 billion), down 30% from Q1 2023, Mercedes-Benz Cars’ EBIT reported €2.5 billion compared to €4.1…

Audi has announced the opening of its first proprietary fast-charging location outside Europe, located in Tokyo, Japan. The new facility features four fast-charging points, each capable of delivering up to 150 kilowatts, and is open to electric cars of all brands. One of the key features of the Tokyo charging location is its buffer storage system, which reduces the strain on the local power grid. This system utilizes used batteries from development vehicles, a practice already in place at Audi’s existing charging hubs in Europe. Unlike Europe, where Audi uses the combined charging system, the Tokyo facility employs the CHAdeMO…

When it comes to the long-term costs of owning a car, maintenance and repairs are key factors that can significantly impact a buyer’s decision. A recent survey by Consumer Reports shed light on the maintenance costs of various car brands over a 10-year ownership period, excluding collision repair costs. In a surprising turn, Tesla emerged as the least expensive brand to maintain over a decade of ownership, beating out traditional favorites like Buick and Toyota. The average cost to maintain a Tesla for the first five years is just $580, and $4,035 for the first 10 years, according to the…

German automotive powerhouse ABT Sportsline has ventured into the world of electric boats, unveiling its inaugural model in collaboration with Austrian electric yacht specialist Marian. The ABT | Marian M 800-R, a luxury electric boat, is set to captivate enthusiasts with its blend of opulence and eco-friendliness. Priced at just under half a million euros, this exclusive model is limited to a production run of only 20 units. Customers who opt for the ABT | Marian M 800-R can expect a luxurious experience paired with impressive performance. The electric boat boasts a powerful 450 kW motor, enabling it to achieve…

In a bid to transform light fleets in the mining sector, Rivian Automotive and Mining Electric Vehicle Company (MEVCO) have joined forces to introduce electric pickups for mining operations. MEVCO, a specialist in light-duty EVs for mining, aims to convert Rivian’s R1T electric pickup trucks for mining purposes, offering maintenance and charging infrastructure support for mines. The collaboration, according to MEVCO CEO Matt Cahir, is poised to exceed the expectations of even the most demanding operators. Cahir emphasized the Rivian R1T’s acclaimed on and off-road capabilities, robust design, and adaptability as key factors driving its selection for mining applications. He…

China’s state planner, the National Development and Reform Commission (NDRC), has forecasted an intensification of price wars among electric vehicle (EV) and plug-in hybrid automakers this year due to an oversupply and other factors, according to a statement released on Monday. The NDRC expects the launch of more than 110 new energy vehicle (NEV) models out of a total of 150 new cars this year, leading to heightened competition in the market. Despite this, the commission estimates market demand for NEVs, including EVs and plug-in hybrids, to reach 2.1 million units in 2024. However, the three top NEV brands—BYD, Aito,…

Tesla has recently made headlines with significant price reductions on its vehicles and Full Self-Driving (FSD) software. These moves have reignited discussions about the company’s pricing strategy, with CEO Elon Musk defending the changes. In response to criticism about the frequency of Tesla’s price adjustments, Musk pointed out that traditional automakers often change prices more regularly than consumers realize due to the dealership model. He highlighted the transparency of Tesla’s direct-to-consumer sales model, where prices are clearer. Last Friday, Tesla slashed the prices of the Model S, X, and Y by $2,000, following an earlier reduction in the price of…

The installation of DC fast charging stations in the US has experienced significant growth, with a 7.6% increase in Q1 2024, bringing the total to nearly 8,200 stations. According to analysis by Bloomberg Green of federal Alternative Fuels Data Center data, almost 600 DC fast charging stations were added in the first quarter of 2024. These developments represent a notable milestone, with one DC fast charging station now available for every 15 gas stations. Tesla Superchargers account for more than a quarter of these stations. Tesla’s Superchargers qualify for federal National Electric Vehicle Infrastructure (NEVI) funding if they are CCS…

In a move to counter recent market disappointments, Tesla announced significant price reductions for its Model Y, Model X, and Model S vehicles in the U.S. The price cuts, amounting to $2,000 each, come on the heels of lower-than-expected first-quarter deliveries for the electric vehicle (EV) giant, despite being the world’s most valuable automaker. The base variant of the Model Y will now cost $42,990, with the long-range and performance variants priced at $47,990 and $51,490, respectively. Similarly, the basic version of the Model S is now priced at $72,990, while the plaid variant costs $87,990. For the Model X,…