Author: Joshua Morris

A Colorado dealership has sparked widespread interest this week with an extraordinary lease offer on the 2024 Nissan Leaf S, priced at an astonishing $19 per month with $0 down. This remarkable deal, made possible through a combination of incentives including federal and state EV tax credits, underscores the growing affordability of electric vehicles (EVs) in the state. The lease terms, however, come with specific conditions—limited to 24 months and 10,000 miles annually—which have become standard for Colorado’s low-cost EV lease programs aimed at qualifying for state tax credits. The aggregate discounts contributing to this offer include a $7,500 federal…

Lion Electric, the Canadian electric commercial vehicle manufacturer, announced a new loan agreement with Investissement Québec worth up to 7.5 million Canadian dollars, underpinning its financial strategy amid recent developments. The loan, initially set at 5 million CAD and extendable to 7.5 million CAD under specific conditions, falls under the ESSOR program and carries a fixed interest rate of 13%. Lion Electric also disclosed modifications to its senior credit instruments with several financial institutions, including the National Bank of Canada and the Caisse de dépôt et placement du Québec. As part of these amendments, Lion Electric will no longer be…

Flyer has introduced its latest electric bicycle lineup, the 2025 Gotour EL series, during EUROBIKE 2024, offering three distinct variants tailored for urban commuting and leisurely rides. These models serve as entry-level versions derived from the brand’s original Gotour touring e-bike, initially launched in 2022. Each variant of the Gotour EL series incorporates the Bosch Performance Line motor, paired with a Bosch PowerTube 625Wh battery and System Controller, delivering up to 75Nm of torque and supporting speeds of up to 25 kph (~16 mph). The bikes integrate smart functionalities through the Bosch eBike Flow app, enabling features such as journey…

Italian sports car brand Ferrari has launched a battery exchange program for its plug-in hybrid models, allowing customers to replace the battery of their vehicles up to two times to preserve the residual value. Ferraris are not only high-performance vehicles but also financial investments. In plug-in hybrids, while the combustion engine is predominantly used, the battery remains a crucial and costly component. Over time, battery performance can degrade, impacting the electric range and overall drive power, which in turn affects the vehicle’s residual value. To address this, Ferrari’s new battery replacement program acts as a warranty extension, offering battery replacements…

Eve Air Mobility, a player in the electric aerial vehicle (EAV) sector, has announced a substantial equity financing round amounting to $94 million. This funding, bolstered by investments from Embraer and other backers, underscores Eve Air’s commitment to advancing its electric vertical takeoff and landing (eVTOL) aircraft program. “We appreciate the confidence that these investors are placing in Eve,” remarked Eduardo Couto, Chief Financial Officer at Eve Air Mobility. “The new equity, along with existing cash and credit lines, ensures Eve is well positioned as we continue to build momentum and advance in the development and manufacturing of our eVTOL.”…

Fast-charging provider Atlante and French financial institution Banque des Territoires are partnering to establish a joint venture, Alpis, aimed at installing over 500 fast-charging stations across France. The network will utilize battery-powered chargers to ensure accessibility even in areas with weak grid infrastructure. Alpis will be backed by 40 million euros in equity, with Atlante holding a narrow majority ownership of 51 percent, and Banque des Territoires holding 49 percent. This collaboration combines the expertise of a charging service provider with the financial acumen of a banking institution. Specific details about the charging network have not yet been disclosed, but…

Chinese electric vehicle manufacturer BYD has secured a significant order from the Azerbaijani government for 160 units of its K9UD electric buses, according to a company press release. The order marks a milestone as BYD continues to strengthen its position in the global market for electric commercial vehicles. The 12-meter long K9UD electric buses will be delivered in batches starting this month, with some expected to be in operation during the upcoming 29th UN Climate Change Conference (COP29) in Baku this November. Azerbaijan plans to purchase an additional 200 electric buses annually from BYD between 2025 and 2028, with intentions…

First Bus has placed a substantial order for 169 electric buses from Chinese manufacturer Yutong through British importer Pelican Bus and Coach. The order, set to be delivered over the next 16 months, represents Yutong’s largest single order for buses in the UK and marks a significant step towards First Bus’s goal of achieving a fully emissions-free bus fleet by 2035. The electric buses will be distributed across four depots in Taunton, Weston-super-Mare, Basildon, and Hengrove in Bristol, all of which will integrate electric buses into their fleets for the first time. This expansion will contribute to First Bus’s existing…

In the first half of 2024, Tesla’s Model Y has emerged as Sweden’s top-selling car, outshining both electric and internal combustion engine (ICE) vehicles amidst a 20 percent decline in overall electric vehicle (EV) sales. Despite a broader six percent drop in car registrations across Sweden, the compact SUV achieved sales of 7,386 units, securing its position at the forefront of the market, according to CarUp data. “Model Y has become the best-selling car in the country, regardless of powertrain type,” noted the report. The achievement comes amid ongoing labor disputes between Tesla and local union IF Metall, highlighting the…

Zunder, a company specializing in electric vehicle charging infrastructure across Europe, has secured a €225 million ($242.9 million) loan from Spanish bank Santander, marking a significant step in its expansion strategy. The move comes amidst increasing governmental efforts worldwide to promote electric vehicles as part of environmental protection initiatives aimed at reducing greenhouse gas emissions. “This agreement with Santander represents a key step in our commitment to expanding electric vehicles in Europe and a boost to our growth strategy, both in the Spanish and European markets,” said Zunder CEO Daniel Perez. “We are very proud that an entity like Santander trusts…

In a bid to sway negotiations, Germany’s VDA automotive association has appealed to the European Commission to abandon its planned tariffs on Chinese-made electric vehicles (EVs). The association warns that such tariffs could adversely affect European and U.S. automakers exporting from China and provoke retaliatory measures from Beijing, potentially impacting Germany’s substantial automotive exports to China. According to VDA, last year’s value of passenger car exports from Germany to China exceeded imports by more than threefold, with component exports four times higher than imports. Instead of tariffs, VDA advocates for prioritizing access to critical raw materials crucial for Europe’s EV…

Volkswagen is weighing potential job cuts at its electric car plant in Zwickau, with reports suggesting more than 1,000 temporary employment contracts could expire by the end of 2025, pending a final decision in August. The plans, reported by MDR Sachsen and other local media, are part of Volkswagen’s response to what a company spokesperson described as sluggish demand for electric vehicles within the VW Group. The focus is primarily on fixed-term contracts set to lapse next year, following previous non-renewals affecting several hundred positions in 2023 and 2024. See also: Volkswagen’s PowerCo Advances Unified Cell Production, Targets 2025 Series Rollout…