Which Cars Have The Best Rebates Right Now – France plans to tie electric car sales to household income, Electric Mini production will leave England, and plans to charge 400 kW stations. This and more in today’s issue of the Morning Dump.
Welcome to the Morning Dump, a wide variety of bite-sized stories wrapped into one article to get you through the morning. If your morning coffee is doing more or less well, go to the throne and enjoy the best leftovers from yesterday.
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One of the biggest problems with electric vehicles is that they are often too expensive for anyone who doesn’t have the luxury of using that money to run. Reuters reports that France is changing its focus by taking electric vehicle incentives to higher-income buyers and boosting electric vehicle incentives to lower-income shoppers.
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In an interview with the business daily Les Echos before visiting the fair, Macron said subsidies for electric cars for low-income families will rise to 7,000 euros ($6,826) next year from 6,000 euros, while they are currently at 5,000. Other French buyers.
While France has another great scheme offering EV leasing at €100 per month, some buyers just want the equity and security of owning their own vehicle. Tying some incentives into returns is a great way to help shoppers notice that dream stock. However, it is possible that not all electric vehicles will be treated equally.
Asked about increasing subsidies for electric vehicles in Europe, as the United States has recently passed a law to reduce inflation, Macron told Les Echoes that he had favored the approach for years. “I strongly preferred a European sponsor,” he said.
First reported by The Times, future electric Mini models will be built in China rather than England. However, the Guardian reports that this is part of a wider production.
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The announcement follows confirmation from Mini boss Stephanie Wurst last week that a convertible model will join the all-new Mini Cooper range – in time for 2024 – and will return home in 2025 with production at Mini’s Oxford plant in the UK.
The Mini is now turned exclusively in Born, Holland, so bringing production back to the UK makes sense from a media perspective. In addition, the electric version of the Cross Countryman will be built in Germany, so the future of Mini production in the Netherlands is uncertain. Will electric vehicles return to the Oxford Mini factory? Maybe, though Wurst said he doesn’t expect any timeline just yet.
“Oxford is not equipped with electric cars,” he said. “We will need renewal and investment.” Asked when electric Mini cars would return to Oxford, he said: “It’s not a given.”
Given the model’s traditional seven-year cycle, it’s no wonder we won’t see any new small electric Oxford models made until 2030 or so. On the plus side, Americans can now buy new three-door Minis with manual gearboxes again, which is a little more than my speed.
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It was only a matter of time before automakers other than Tesla quickly invaded the DC game. Automotive News Europe reports that Renault’s Mobilize division is launching a new network of power stations that are expected to provide some serious power.
The filling stations will be able to provide up to 400 kW of energy. The brand says the static storage system will be able to provide 600 kilowatts of simultaneous power, even when several cars are charging at the same time, reducing the impact on the power grid. It also allows drivers to get the best price for electric power, Mobilize says. The storage system includes EV batteries and “Second Life” photovoltaic cells.
Considering that few current EVs are compatible with 350kW fast charging, 400kW may seem like overkill. The future of protection is certain, but how long will it be until we see EVs that can use 400kW charging? These proposed fixed storage systems are more useful because they can draw power from processing during peak hours and potentially pass the cost savings on to drivers. Moreover, expect these loads to appear on major routes in France, Italy, the Netherlands and Spain with more countries planned in the future.
As tensions run high between South Korea and America over tax credits for electric vehicles, it is not surprising to hear that Hyundai is moving quickly to meet plans for electric vehicles in the United States. Reuters reports that the South Korean automaker will begin work on a new bulk plant in Georgia later this month.
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Hyundai plans to start commercial production in the first half of 2025 with an annual capacity of 300,000 units. Hyundai’s launch of the group’s “metaplant” in Savannah, Ga., on Oct. 25 is part of the Hyundai group’s “dedicated $10 billion by 2025 to promote future mobility in the United States, including electric vehicle production,” the company said.
While the name “metaplant” sounds ridiculously silly, the plant in Georgia should help Hyundai qualify for an EV rebate under the Inflation Cut Act. It’s a good story given the continued talks about the electric power plant between Korean and American officials. A certain role in US manufacturing may turn to US lawmakers with a temporary solution. In the event, Hyundai expects to spend $5.5 billion on this new plant, so the brand better screw up if it’s targeting production in 2025.
Baby, it’s time to drop the lid on today’s edition of Morning Dump. It’s Monday, so I hope everyone has a really great weekend. To kick off the resuming work week, let’s do a bit of shopping around. Imagine that the 25 year old motor vehicle import law was magically repealed this afternoon. What do you bring to America?
Thomas is a Nu Rave-blaring, heel-turned-heel, syrupy, hairy, chassis-geeking, junky-looking, floppy-aged guy who wrote about cars in college. His current ride is a 2006 BMW 325i with a 6-speed manual transmission. Instagram: @thomas.hundal Twitter: @thomashundal
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Press artificial intelligence, tech shortages so big, Beau and DT take a trip to Germany: Autopian PodcastChina plans $72.3 billion credit package for new energy vehicles. Are more luxury car brands accelerating into the electric vehicle segment? Photo: BYD
Shortly after, China announced that the package of new energy vehicles (NEVs) worth 520 billion yuan ($72.3 billion) in June, sales reached a record high, leading the country’s leading electric vehicle players.
Chinese electric vehicle brand BYD sold more than 253,046 vehicles, almost double the number of vehicles it sold in June last year. Li Auto delivered more than 32,500 vehicles, achieving a growth of 150 percent last year. And although Tesla doesn’t release country-specific numbers, the US auto brand sold 93,680 electric cars made in China in June, up 18 percent year-over-year.
This change is welcome from the first part of 2023, when the total car sales in mainland China fell by 1.4 percent year-on-year, driven to “wait and see the buyer’s opinion” according to Cui Dongshu, secretary general of the CPCA (China Passenger Automobile Association). The price war started by Tesla last year – and soon joined by more than two dozen other car brands – has been waiting for the consumer to stabilize the discount rates. China also ended subsidies for electric vehicles for a decade last year.
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Now, China’s resumption of subsidies will bring the country closer to its goal to make at least 50% of new car sales new fuel by 2035. Under the plan, all NEV sales will continue to receive tax exemption in 2023. 2025 from the purchase tax of up to 30,000 yuan ($4,175) per vehicle, while those purchased between 2026 and 2027 benefit from a half exemption.
2022 was a big year for electric vehicles in China. Out of 26.86 million vehicles sold, electric vehicles accounted for a 25.6 percent share according to the China Association of Manufacturers (CAAM), making China the world’s largest market for electric vehicles.
Even in 2023, sales of electric vehicles among passenger cars grew 29 percent year-on-year in the first year, although the buyer has a wait-and-see attitude. As demand for gasoline-powered vehicles is expected to increase as the rebound gathers, will the market for gasoline-powered vehicles weaken?
Porsche, which mostly owns petrol-powered cars, has not seen a negative impact on its sales. The German brand made 21,365 deliveries in the first quarter of 2023 in China, an increase of 21 percent year-on-year. About 20.6 percent of these cars were electric vehicles. In fact, it was China’s largest market for almost a decade.
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The Porsche Taycan is the first series production car with a system voltage of 800 volts instead of the usual 400 volts for electric cars. Photo: Porsche
Porsche aims to maintain and grow its share of the Chinese market, driving more than 80 percent of its sales to electric vehicles by 2030, according to Michael Kirsch, president and CEO of Porsche China.
The all-electric Macan is due to be available to customers in 2024: the 718 series will be electrified in the medium term.- This will soon be followed by the all-electric Cayenne and the new all-electric SUV
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