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Found 74 results

  1. Mazda hasn't even put their Skyactiv-X technologies into production and already they are talking about the next-generation known as Skyactiv-3. Automotive News reports that Mazda's powertrain chief Mitsuo Hitomi said the gasoline version of Skyactiv-3 will have the same emission levels as an electric vehicle. Hitomi told attendees of automotive technical conference in Toyko that Mazda will be working on improving the thermal efficiency of its engines. This reduces the "amount of combustion energy lost to heat while increasing the amount harnessed to power the wheels." If Mazda can improve the thermal efficiency by 27 percent, to 56 percent, Hitomi said it could achieve emissions similar to an EV. How does he come this conclusion? There is a bit of fuzzy math to reach this. It is based Mazda's measurement of wheel-to-wheel emission for electric vehicles and internal combustion engines. For electric vehicles, Mazda includes the carbon dioxide emitted in the production of electricity for the vehicle. The emissions from oil extraction and refining are included in the measurement for internal combustion engines. Mazda's calculations say that some EVs are dirtier than fuel efficient gas-powered models. Mazda also believes that it cut carbon dioxide emissions by 25 percent with the next-generation of Skyactiv, giving them "real world well-to-wheel fuel economy comparable to EVs deriving their electricity through the burning of liquefied natural gas," according to Hitomi. No timeframe was given as to when Skyactiv-3 would debut. Source: Automotive News (Subscription Required)
  2. Mazda hasn't even put their Skyactiv-X technologies into production and already they are talking about the next-generation known as Skyactiv-3. Automotive News reports that Mazda's powertrain chief Mitsuo Hitomi said the gasoline version of Skyactiv-3 will have the same emission levels as an electric vehicle. Hitomi told attendees of automotive technical conference in Toyko that Mazda will be working on improving the thermal efficiency of its engines. This reduces the "amount of combustion energy lost to heat while increasing the amount harnessed to power the wheels." If Mazda can improve the thermal efficiency by 27 percent, to 56 percent, Hitomi said it could achieve emissions similar to an EV. How does he come this conclusion? There is a bit of fuzzy math to reach this. It is based Mazda's measurement of wheel-to-wheel emission for electric vehicles and internal combustion engines. For electric vehicles, Mazda includes the carbon dioxide emitted in the production of electricity for the vehicle. The emissions from oil extraction and refining are included in the measurement for internal combustion engines. Mazda's calculations say that some EVs are dirtier than fuel efficient gas-powered models. Mazda also believes that it cut carbon dioxide emissions by 25 percent with the next-generation of Skyactiv, giving them "real world well-to-wheel fuel economy comparable to EVs deriving their electricity through the burning of liquefied natural gas," according to Hitomi. No timeframe was given as to when Skyactiv-3 would debut. Source: Automotive News (Subscription Required) View full article
  3. You find yourself in the showroom, ready to drive away in a new Chevrolet Bolt, Nissan Leaf, or Tesla Model S. But there is one big question that needs to be decided, do you buy or lease it? According to a report from Bloomberg, most buyers of EVs tend to lease. In the U.S., almost 80 percent of electric vehicles on the road are leased according to their report. It also says that 55 percent of plug-in hybrids are leased. More than 80 percent of BMW i3s are leased as an example. The key reason comes down to the belief that electric vehicles will continue to improve and buyers can simply trade them - similar to purchasing a new smartphone. "When there’s new technology coming out, and it’s coming out so rapidly, and you’re improving on it so constantly, typically people only want to lease it,” said Steve Center, a vice president of American Honda Motor Co., back in April. This bet seems to be paying off as the range of electric vehicles has been increasing, while prices of batteries have been going downward. “If you look at what can happen across the lifetime of a lease, you’re really talking about doubling the range of these vehicles,” said Edmunds analyst Jeremy Acevedo. The imbalance between leasing/buying an electric vehicle has also made used EVs to become a steal. According to auto analytics firm Black Book, compact electric vehicles sold in 2014 only hold 23 percent of their original sale price. A comparable internal combustion vehicle holds about 41 percent. Doing a quick search on Cars.com, we were able to find low mileage 2015 Nissan Leafs ranging $14,000 to $16,000. The big question is will this trend continue down the road, considering the likes the Model 3 and models coming from German automakers. Source: Bloomberg
  4. You find yourself in the showroom, ready to drive away in a new Chevrolet Bolt, Nissan Leaf, or Tesla Model S. But there is one big question that needs to be decided, do you buy or lease it? According to a report from Bloomberg, most buyers of EVs tend to lease. In the U.S., almost 80 percent of electric vehicles on the road are leased according to their report. It also says that 55 percent of plug-in hybrids are leased. More than 80 percent of BMW i3s are leased as an example. The key reason comes down to the belief that electric vehicles will continue to improve and buyers can simply trade them - similar to purchasing a new smartphone. "When there’s new technology coming out, and it’s coming out so rapidly, and you’re improving on it so constantly, typically people only want to lease it,” said Steve Center, a vice president of American Honda Motor Co., back in April. This bet seems to be paying off as the range of electric vehicles has been increasing, while prices of batteries have been going downward. “If you look at what can happen across the lifetime of a lease, you’re really talking about doubling the range of these vehicles,” said Edmunds analyst Jeremy Acevedo. The imbalance between leasing/buying an electric vehicle has also made used EVs to become a steal. According to auto analytics firm Black Book, compact electric vehicles sold in 2014 only hold 23 percent of their original sale price. A comparable internal combustion vehicle holds about 41 percent. Doing a quick search on Cars.com, we were able to find low mileage 2015 Nissan Leafs ranging $14,000 to $16,000. The big question is will this trend continue down the road, considering the likes the Model 3 and models coming from German automakers. Source: Bloomberg View full article
  5. Toyota is well aware that they are quite behind competitors when it comes to electric vehicles. Facing a “now or never” crisis, the Japanese automaker announced a new plan that will see it sell more than 10 electric vehicles worldwide by 2020. The plan hinges on a significant acceleration in the development and launches of hybrids, plug-in hybrids, electric vehicles, and fuel cells. The new vehicles will be launched in China first, followed by other markets such as Japan and the U.S. Toyota is also planning on having an electrified version of every model in the Toyota and Lexus lineups by 2025. The goals mark a major departure for Toyota as they have tended to focus more on hybrids and fuel cell vehicles, not electric-only models. The company had said for the longest time that electric vehicles would be a niche market due to their limited range, slow recharging times, and high costs. Toyota would instead focus on developing fuel cell vehicles which had its own issues - limited fuel infrastructure and slow refueling times. But with various governments beginning to clamp down on emissions, Toyota knew it had to make a course change. The company is planning on launching a new, solid-state battery in the early 2020s which will improve the performance and weight of their electric vehicles. Source: Automotive News (Subscription Required), Toyota Press Release is on Page 2 Toyota Aims for Sales of More Than 5.5 Million Electrified Vehicles Including 1 Million Zero-Emission Vehicles per Year by 2030 Electrified vehicles to be available across the entire Toyota and Lexus line-up by around 2025 Toyota City, Japan, December 18, 2017―Toyota Motor Corporation (Toyota) announces today its plans toward the popularization of electrified vehicles for the decade 2020-2030. Toyota's electrified vehicle strategy centers on a significant acceleration in the development and launch plans of hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), battery electric vehicles (BEVs), and fuel cell electric vehicles (FCEVs). Toyota has been working toward creating ever-better cars and an ever-better society under the thinking of contributing to a sustainable society and creating mobility that brings smiles to customers. Addressing environmental challenges, such as global warming, air pollution, and limited natural resources and energy supply are of utmost importance to Toyota. "Environment" is one of the anchors of the company's product development, alongside "safety/peace of mind" and "emotion." Electrified vehicles, which are effective for economical consumption of fuel and promoting usage of alternative fuels, are indispensable in helping to solve current environmental issues. In October 2015, Toyota launched the Toyota Environmental Challenge 2050, which aims to reduce the negative impact of manufacturing and driving vehicles as much as possible and contribute to realizing a sustainable society. In the ever-better cars category, Toyota aims to reduce global average new-vehicle CO2 emissions by 90 percent from 2010 levels. Today's announcement is the main pillar of a mid-to-long-term initiative to achieve this challenge. Electrification across the entire Toyota and Lexus line-up By around 2030, Toyota aims to have sales of more than 5.5 million electrified vehicles, including more than 1 million zero-emission vehicles (BEVs, FCEVs). Additionally, by around 2025, every model in the Toyota and Lexus line-up around the world will be available either as a dedicated electrified model or have an electrified option. This will be achieved by increasing the number of dedicated HEV, PHEV, BEV, and FCEV models and by generalizing the availability of HEV, PHEV and/or BEV options to all its models. As a result, the number of models developed without an electrified version will be zero. Zero-emission Vehicles Toyota will accelerate the popularization of BEVs with more than 10 BEV models to be available worldwide by the early 2020s, starting in China, before entering other markets―the gradual introduction to Japan, India, United States and Europe is expected. The FCEV line-up will be expanded for both passenger and commercial vehicles in the 2020s. Hybrid Electric and Plug-in Hybrid Electric Vehicles The HEV line-up will also grow, thanks to the further development of the Toyota Hybrid System II (featured in the current-generation Prius and other models); the introduction of a more powerful version in some models; and the development of simpler hybrid systems in select models, as appropriate, to meet various customer needs. Toyota also aims to expand its PHEV line-up in the 2020s. Batteries are a core technology of electrified vehicles and generally present limitations relating to energy density, weight/packaging, and cost. Toyota has been actively developing next-generation solid-state batteries and aims to commercialize the technology by the early 2020s. In addition, Toyota and Panasonic will start a feasibility study on a joint automotive prismatic battery business in order to achieve the best automotive prismatic battery in the industry and to ultimately contribute to the popularization of Toyota's and other automakers' electrified vehicles. Furthermore, Toyota aims to focus on the development of a social infrastructure conducive to the widespread adoption of electrified vehicles. This includes the creation of a system to help streamline battery reuse and recycling, as well as support of the promotion of plug-in vehicle charging stations and hydrogen refueling stations through active cooperation and collaboration with government authorities and partner companies. Toyota has been a leader in making vehicles while keeping the environment in mind. This is evident through the introduction of the iconic Prius 20 years ago, as well as the launch of the world's first PHEV, the Prius PHV, in 2012. The second-generation Prius PHV, introduced in 2017, further increased the vehicle's electric mode cruising range. Additionally, in 2014 Toyota launched the world's first mass-produced fuel cell sedan, the Mirai, which is being well-received by customers in Japan, the U.S., and Europe. Through these activities, Toyota sales of electrified vehicles have reached more than 11 million units worldwide to date.
  6. Toyota is well aware that they are quite behind competitors when it comes to electric vehicles. Facing a “now or never” crisis, the Japanese automaker announced a new plan that will see it sell more than 10 electric vehicles worldwide by 2020. The plan hinges on a significant acceleration in the development and launches of hybrids, plug-in hybrids, electric vehicles, and fuel cells. The new vehicles will be launched in China first, followed by other markets such as Japan and the U.S. Toyota is also planning on having an electrified version of every model in the Toyota and Lexus lineups by 2025. The goals mark a major departure for Toyota as they have tended to focus more on hybrids and fuel cell vehicles, not electric-only models. The company had said for the longest time that electric vehicles would be a niche market due to their limited range, slow recharging times, and high costs. Toyota would instead focus on developing fuel cell vehicles which had its own issues - limited fuel infrastructure and slow refueling times. But with various governments beginning to clamp down on emissions, Toyota knew it had to make a course change. The company is planning on launching a new, solid-state battery in the early 2020s which will improve the performance and weight of their electric vehicles. Source: Automotive News (Subscription Required), Toyota Press Release is on Page 2 Toyota Aims for Sales of More Than 5.5 Million Electrified Vehicles Including 1 Million Zero-Emission Vehicles per Year by 2030 Electrified vehicles to be available across the entire Toyota and Lexus line-up by around 2025 Toyota City, Japan, December 18, 2017―Toyota Motor Corporation (Toyota) announces today its plans toward the popularization of electrified vehicles for the decade 2020-2030. Toyota's electrified vehicle strategy centers on a significant acceleration in the development and launch plans of hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), battery electric vehicles (BEVs), and fuel cell electric vehicles (FCEVs). Toyota has been working toward creating ever-better cars and an ever-better society under the thinking of contributing to a sustainable society and creating mobility that brings smiles to customers. Addressing environmental challenges, such as global warming, air pollution, and limited natural resources and energy supply are of utmost importance to Toyota. "Environment" is one of the anchors of the company's product development, alongside "safety/peace of mind" and "emotion." Electrified vehicles, which are effective for economical consumption of fuel and promoting usage of alternative fuels, are indispensable in helping to solve current environmental issues. In October 2015, Toyota launched the Toyota Environmental Challenge 2050, which aims to reduce the negative impact of manufacturing and driving vehicles as much as possible and contribute to realizing a sustainable society. In the ever-better cars category, Toyota aims to reduce global average new-vehicle CO2 emissions by 90 percent from 2010 levels. Today's announcement is the main pillar of a mid-to-long-term initiative to achieve this challenge. Electrification across the entire Toyota and Lexus line-up By around 2030, Toyota aims to have sales of more than 5.5 million electrified vehicles, including more than 1 million zero-emission vehicles (BEVs, FCEVs). Additionally, by around 2025, every model in the Toyota and Lexus line-up around the world will be available either as a dedicated electrified model or have an electrified option. This will be achieved by increasing the number of dedicated HEV, PHEV, BEV, and FCEV models and by generalizing the availability of HEV, PHEV and/or BEV options to all its models. As a result, the number of models developed without an electrified version will be zero. Zero-emission Vehicles Toyota will accelerate the popularization of BEVs with more than 10 BEV models to be available worldwide by the early 2020s, starting in China, before entering other markets―the gradual introduction to Japan, India, United States and Europe is expected. The FCEV line-up will be expanded for both passenger and commercial vehicles in the 2020s. Hybrid Electric and Plug-in Hybrid Electric Vehicles The HEV line-up will also grow, thanks to the further development of the Toyota Hybrid System II (featured in the current-generation Prius and other models); the introduction of a more powerful version in some models; and the development of simpler hybrid systems in select models, as appropriate, to meet various customer needs. Toyota also aims to expand its PHEV line-up in the 2020s. Batteries are a core technology of electrified vehicles and generally present limitations relating to energy density, weight/packaging, and cost. Toyota has been actively developing next-generation solid-state batteries and aims to commercialize the technology by the early 2020s. In addition, Toyota and Panasonic will start a feasibility study on a joint automotive prismatic battery business in order to achieve the best automotive prismatic battery in the industry and to ultimately contribute to the popularization of Toyota's and other automakers' electrified vehicles. Furthermore, Toyota aims to focus on the development of a social infrastructure conducive to the widespread adoption of electrified vehicles. This includes the creation of a system to help streamline battery reuse and recycling, as well as support of the promotion of plug-in vehicle charging stations and hydrogen refueling stations through active cooperation and collaboration with government authorities and partner companies. Toyota has been a leader in making vehicles while keeping the environment in mind. This is evident through the introduction of the iconic Prius 20 years ago, as well as the launch of the world's first PHEV, the Prius PHV, in 2012. The second-generation Prius PHV, introduced in 2017, further increased the vehicle's electric mode cruising range. Additionally, in 2014 Toyota launched the world's first mass-produced fuel cell sedan, the Mirai, which is being well-received by customers in Japan, the U.S., and Europe. Through these activities, Toyota sales of electrified vehicles have reached more than 11 million units worldwide to date. View full article
  7. Ford and General Motors have differing views on autonomous vehicles. GM is planning on launching a number of Chevrolet Bolt EVs in various urban markets in 2019 for a ride-hailing service. Ford, on the other hand, is taking a different approach in terms of powertrain and use. Ford's top sales executive, Jim Farley said their autonomous vehicle - due in 2021 - will be a hybrid vehicle with a focus on commercial applications. Farley explained that going with a hybrid powertrain would allow their vehicles to stay on the road longer thanks to a longer range when compared to EVs. The company expects their autonomous vehicles to be on the road for roughly 20 hours a day. Using an electric vehicle for this type of task doesn't make business sense as they would need to recharge constantly. "Anytime you're not carrying goods and people, you're losing money. The most important thing is uptime and profitability. What we see is the [hybrid] is a much better cost-of-ownership model," said Farley. The constant recharging also brings up another negative for electric vehicles, frequent replacement of the batteries due to increased degradation. Ford has already announced a pilot program with Domino's pizza to do deliveries in a self-driving plan. Next year, Ford will this commercial idea to the test by putting a fleet of vehicles in a "yet-to-be-named test city" with a number of partners. Source: Automotive News (Subscription Required)
  8. Ford and General Motors have differing views on autonomous vehicles. GM is planning on launching a number of Chevrolet Bolt EVs in various urban markets in 2019 for a ride-hailing service. Ford, on the other hand, is taking a different approach in terms of powertrain and use. Ford's top sales executive, Jim Farley said their autonomous vehicle - due in 2021 - will be a hybrid vehicle with a focus on commercial applications. Farley explained that going with a hybrid powertrain would allow their vehicles to stay on the road longer thanks to a longer range when compared to EVs. The company expects their autonomous vehicles to be on the road for roughly 20 hours a day. Using an electric vehicle for this type of task doesn't make business sense as they would need to recharge constantly. "Anytime you're not carrying goods and people, you're losing money. The most important thing is uptime and profitability. What we see is the [hybrid] is a much better cost-of-ownership model," said Farley. The constant recharging also brings up another negative for electric vehicles, frequent replacement of the batteries due to increased degradation. Ford has already announced a pilot program with Domino's pizza to do deliveries in a self-driving plan. Next year, Ford will this commercial idea to the test by putting a fleet of vehicles in a "yet-to-be-named test city" with a number of partners. Source: Automotive News (Subscription Required) View full article
  9. General Motors CEO Mary Barra spoke yesterday at the Barclays Global Automotive Conference in New York. During her talk, Barra said the company expects to make a profit off electric vehicles once they launch their next-generation EV platform. “We are working to provide desirable, obtainable and profitable vehicles that deliver a range of over 300 miles. There’s a lot of really creative things we’re doing to achieve that profitability point for that new platform,” Barra said to investors. The next-generation modular platform, due in 2021 will play a pivotal role in GM's plan to launch 20 all-new electric and hydrogen fuel cell vehicles by 2023. The platform will help drop the total per-unit cost by 30 percent or more. It will be used across a number of GM brands and various segments. GM is also working on a new battery system that will cut the per-kilowatt-hour from $145 to under $100 by 2021. Before these two launches, GM will be introducing four new EV and hydrogen vehicles. Two of those will be launch by April 2019 according to a GM spokesman. At least two vehicles will be small crossovers according to Automotive News. It is expected the electric models will use the underpinnings of the Chevrolet Bolt. The company has a set a goal of a million electric vehicles by 2026 - with most happening in China due to their strict production quotas for EVs. Source: Automotive News (Subscription Required), Reuters View full article
  10. General Motors CEO Mary Barra spoke yesterday at the Barclays Global Automotive Conference in New York. During her talk, Barra said the company expects to make a profit off electric vehicles once they launch their next-generation EV platform. “We are working to provide desirable, obtainable and profitable vehicles that deliver a range of over 300 miles. There’s a lot of really creative things we’re doing to achieve that profitability point for that new platform,” Barra said to investors. The next-generation modular platform, due in 2021 will play a pivotal role in GM's plan to launch 20 all-new electric and hydrogen fuel cell vehicles by 2023. The platform will help drop the total per-unit cost by 30 percent or more. It will be used across a number of GM brands and various segments. GM is also working on a new battery system that will cut the per-kilowatt-hour from $145 to under $100 by 2021. Before these two launches, GM will be introducing four new EV and hydrogen vehicles. Two of those will be launch by April 2019 according to a GM spokesman. At least two vehicles will be small crossovers according to Automotive News. It is expected the electric models will use the underpinnings of the Chevrolet Bolt. The company has a set a goal of a million electric vehicles by 2026 - with most happening in China due to their strict production quotas for EVs. Source: Automotive News (Subscription Required), Reuters
  11. Ford has announced a new joint venture with Chinese automaker Zotye on affordable electric vehicles for the Chinese market. Named Zotye Ford Automobile, the venture will see the two automakers develop and manufacture electric vehicles for a new brand. Ford and Zotye will be investing a total of 5 billion RMB (about $756 million) on this venture. Part of that investment will go towards a new manufacturing plant in the Zhejiang Province. The two automakers will also work on mobility solutions. “We are delighted to have signed this joint venture agreement with Zotye to form our third joint venture automotive company in China. Subject to regulatory approval, Zotye Ford will introduce a new brand family of small all-electric vehicles," said Peter Fleet, Ford group vice president and president of the Asia Pacific region. Zoyte knows a thing or two about selling EVs in China. The company has sold 22,500 small EVs within the first 10 months of the year. Zoyte is also very infamous for building the T700 which is a copy of the Porsche Macan crossover. Source: Ford Press Release is on Page 2 FORD AND ZOTYE SIGN DEFINITIVE JV AGREEMENT IN CHINA TO MEET GROWING DEMAND FOR ALL-ELECTRIC VEHICLES Ford and Zotye signed a definitive joint venture agreement to establish Zotye Ford Automobile Co. Ltd., a new 50:50 joint venture that will offer a range of stylish and affordable electric vehicles for consumers in China Pending regulatory approval, the new JV will develop and manufacture all-electric vehicles under a new Chinese brand Zotye Ford also plans to build a new manufacturing plant in Zhejiang Province. A new dedicated sales and service network also will be established Ford and Zotye also will explore the opportunity to offer new mobility services in China to help provide solutions for emerging transportation challenges Beijing, Nov. 8, 2017 -- Ford Motor Company and Zotye today reached a definitive agreement to establish Zotye Ford Automobile Co., Ltd., a new 50:50 joint venture that will offer a range of stylish and affordable all-electric vehicles for consumers in China under a new indigenous brand. The agreement was signed in Beijing today by Peter Fleet, Ford group vice president and president, Ford Asia Pacific, and Ying Jianren, chairman of Tech-New Group Ltd. and board director of Zotye Auto. Pending regulatory approval, the new JV will design, build, market and distribute all-electric passenger vehicles for China, the world’s leading electric vehicle market. The establishment of the JV is a key step by Ford towards realizing its vision of a cleaner, more environmentally-sustainable future. The new JV will leverage a combined investment of 5 billion RMB (approximately U.S. $756 million). The new JV builds upon Ford’s ambitious China electrification strategy. Ford announced earlier this year that at least 70 percent of Ford-branded vehicles sold in the country will offer electrified powertrain options by 2025. Zotye Ford plans to build a dedicated product research and development center as well as its own sales and services network. A new manufacturing plant for the JV will be constructed in Zhejiang Province. The all-electric vehicles produced by the JV will be sold under a new Chinese brand designed to meet Chinese consumers’ aspirations for electric vehicles. “We are delighted to have signed this joint venture agreement with Zotye to form our third joint venture automotive company in China. Subject to regulatory approval, Zotye Ford will introduce a new brand family of small all-electric vehicles," Fleet said. "We will be exploring innovative vehicle connectivity and mobility service solutions for a new generation of young city-dwelling Chinese customers." In addition to the new JV, Ford and Zotye will explore offering mobility services to consumers in China as local demand for such solutions continues to grow. Through this new JV, Ford commits to actively support the advancement of a more environmentally sustainable auto industry in China through local research and development as well as domestic production of all-electric vehicles. Zotye Auto is a pioneer in the Chinese all-electric vehicle segment. It is the market leader in China’s all-electric small vehicle segment and sold more than 22,500 all-electric vehicles year-to-date through October, representing a growth of over 14 percent year-over-year. The JV will benefit from Zotye’s expertise in designing and commercializing EVs in China, and Ford’s global product development and technology capabilities. “This is an important day for Zotye as we partner with Ford to help advance the growth of the Chinese auto industry,” said Zotye’s Ying. “We will work closely together to help meet Chinese consumers’ growing demand for electric vehicles.” Upon its establishment, the new JV will expand Ford’s footprint in China. Ford already operates successful vehicle joint ventures with Changan Ford Automobile Corporation, Ltd. and Jiangling Motors Corporation. Ford will continue working closely with its JV partners to develop and manufacture New Energy Vehicles to meet rising consumer demand in China during the impending electrification phase of the Chinese auto industry. View full article
  12. Ford has announced a new joint venture with Chinese automaker Zotye on affordable electric vehicles for the Chinese market. Named Zotye Ford Automobile, the venture will see the two automakers develop and manufacture electric vehicles for a new brand. Ford and Zotye will be investing a total of 5 billion RMB (about $756 million) on this venture. Part of that investment will go towards a new manufacturing plant in the Zhejiang Province. The two automakers will also work on mobility solutions. “We are delighted to have signed this joint venture agreement with Zotye to form our third joint venture automotive company in China. Subject to regulatory approval, Zotye Ford will introduce a new brand family of small all-electric vehicles," said Peter Fleet, Ford group vice president and president of the Asia Pacific region. Zoyte knows a thing or two about selling EVs in China. The company has sold 22,500 small EVs within the first 10 months of the year. Zoyte is also very infamous for building the T700 which is a copy of the Porsche Macan crossover. Source: Ford Press Release is on Page 2 FORD AND ZOTYE SIGN DEFINITIVE JV AGREEMENT IN CHINA TO MEET GROWING DEMAND FOR ALL-ELECTRIC VEHICLES Ford and Zotye signed a definitive joint venture agreement to establish Zotye Ford Automobile Co. Ltd., a new 50:50 joint venture that will offer a range of stylish and affordable electric vehicles for consumers in China Pending regulatory approval, the new JV will develop and manufacture all-electric vehicles under a new Chinese brand Zotye Ford also plans to build a new manufacturing plant in Zhejiang Province. A new dedicated sales and service network also will be established Ford and Zotye also will explore the opportunity to offer new mobility services in China to help provide solutions for emerging transportation challenges Beijing, Nov. 8, 2017 -- Ford Motor Company and Zotye today reached a definitive agreement to establish Zotye Ford Automobile Co., Ltd., a new 50:50 joint venture that will offer a range of stylish and affordable all-electric vehicles for consumers in China under a new indigenous brand. The agreement was signed in Beijing today by Peter Fleet, Ford group vice president and president, Ford Asia Pacific, and Ying Jianren, chairman of Tech-New Group Ltd. and board director of Zotye Auto. Pending regulatory approval, the new JV will design, build, market and distribute all-electric passenger vehicles for China, the world’s leading electric vehicle market. The establishment of the JV is a key step by Ford towards realizing its vision of a cleaner, more environmentally-sustainable future. The new JV will leverage a combined investment of 5 billion RMB (approximately U.S. $756 million). The new JV builds upon Ford’s ambitious China electrification strategy. Ford announced earlier this year that at least 70 percent of Ford-branded vehicles sold in the country will offer electrified powertrain options by 2025. Zotye Ford plans to build a dedicated product research and development center as well as its own sales and services network. A new manufacturing plant for the JV will be constructed in Zhejiang Province. The all-electric vehicles produced by the JV will be sold under a new Chinese brand designed to meet Chinese consumers’ aspirations for electric vehicles. “We are delighted to have signed this joint venture agreement with Zotye to form our third joint venture automotive company in China. Subject to regulatory approval, Zotye Ford will introduce a new brand family of small all-electric vehicles," Fleet said. "We will be exploring innovative vehicle connectivity and mobility service solutions for a new generation of young city-dwelling Chinese customers." In addition to the new JV, Ford and Zotye will explore offering mobility services to consumers in China as local demand for such solutions continues to grow. Through this new JV, Ford commits to actively support the advancement of a more environmentally sustainable auto industry in China through local research and development as well as domestic production of all-electric vehicles. Zotye Auto is a pioneer in the Chinese all-electric vehicle segment. It is the market leader in China’s all-electric small vehicle segment and sold more than 22,500 all-electric vehicles year-to-date through October, representing a growth of over 14 percent year-over-year. The JV will benefit from Zotye’s expertise in designing and commercializing EVs in China, and Ford’s global product development and technology capabilities. “This is an important day for Zotye as we partner with Ford to help advance the growth of the Chinese auto industry,” said Zotye’s Ying. “We will work closely together to help meet Chinese consumers’ growing demand for electric vehicles.” Upon its establishment, the new JV will expand Ford’s footprint in China. Ford already operates successful vehicle joint ventures with Changan Ford Automobile Corporation, Ltd. and Jiangling Motors Corporation. Ford will continue working closely with its JV partners to develop and manufacture New Energy Vehicles to meet rising consumer demand in China during the impending electrification phase of the Chinese auto industry.
  13. One key selling point automakers have been using to move electric vehicles is the federal tax credit of up to $7,500. But a new tax cut bill being proposed by House Republicans could eliminate that credit. The bill announced today includes a provision of eliminating the credit after the 2017 tax year if the bill goes into law. The credits are important as it helps level the playing field between internal combustion engines and EVs. Currently, the credit will begin to phase out once an auto manufacturer once it sells 200,000 EVs or plug-in hybrids. Bloomberg reports that Tesla would be the first automaker to reach the limit, followed by GM and Nissan. If that tax credit is eliminated, automakers worry they would experience a plunge in sales. “The credits matter a lot. In states without EV mandates or incentives, you’ll see sales crater,” said Eric Noble, president of the CarLab. Bloomberg cites the example of Georgia which cut its $5,000 electric vehicle tax credit back in 2015. Sales tumbled from 1,400 to just fewer than 100. Automakers are spending a lot of money and time in lobbying to make sure the credit is renewed partly due to new mandates being placed by California and a number of other states saying a certain percentage of new cars sold have to EVs. "The potential elimination of the federal electric vehicle tax credit will impact the choices of prospective buyers and make the electric vehicle mandate in 10 states — about a third of the market — even more difficult to meet," said Gloria Bergquist, a spokeswoman for the Alliance of Automobile Manufacturers, a trade group representing various automakers such as GM and Toyota. Source: Bloomberg, Reuters View full article
  14. One key selling point automakers have been using to move electric vehicles is the federal tax credit of up to $7,500. But a new tax cut bill being proposed by House Republicans could eliminate that credit. The bill announced today includes a provision of eliminating the credit after the 2017 tax year if the bill goes into law. The credits are important as it helps level the playing field between internal combustion engines and EVs. Currently, the credit will begin to phase out once an auto manufacturer once it sells 200,000 EVs or plug-in hybrids. Bloomberg reports that Tesla would be the first automaker to reach the limit, followed by GM and Nissan. If that tax credit is eliminated, automakers worry they would experience a plunge in sales. “The credits matter a lot. In states without EV mandates or incentives, you’ll see sales crater,” said Eric Noble, president of the CarLab. Bloomberg cites the example of Georgia which cut its $5,000 electric vehicle tax credit back in 2015. Sales tumbled from 1,400 to just fewer than 100. Automakers are spending a lot of money and time in lobbying to make sure the credit is renewed partly due to new mandates being placed by California and a number of other states saying a certain percentage of new cars sold have to EVs. "The potential elimination of the federal electric vehicle tax credit will impact the choices of prospective buyers and make the electric vehicle mandate in 10 states — about a third of the market — even more difficult to meet," said Gloria Bergquist, a spokeswoman for the Alliance of Automobile Manufacturers, a trade group representing various automakers such as GM and Toyota. Source: Bloomberg, Reuters
  15. Spying: Hyundai Kona EV Charges Up

    Hyundai has announced that the upcoming Kona crossover would be coming with an electric powertrain and we have gotten our first look at it. A spy photographer caught a Kona EV mule charging up. It looks like your standard Kona with the only difference that there is a charging door on the front. We're assuming this means a solid panel takes the place of the standard grille. Current rumors have Hyundai offering two battery options for the Kona EV - 40 and 64 kWh. The larger battery is projected to have a range of around 210 miles. Expect to see the Kona EV debut sometime next year with sales beginning in late 2018 or 2019. It is unclear whether or not the model will be sold here. Source: AutoGuide, Motor1
  16. Hyundai has announced that the upcoming Kona crossover would be coming with an electric powertrain and we have gotten our first look at it. A spy photographer caught a Kona EV mule charging up. It looks like your standard Kona with the only difference that there is a charging door on the front. We're assuming this means a solid panel takes the place of the standard grille. Current rumors have Hyundai offering two battery options for the Kona EV - 40 and 64 kWh. The larger battery is projected to have a range of around 210 miles. Expect to see the Kona EV debut sometime next year with sales beginning in late 2018 or 2019. It is unclear whether or not the model will be sold here. Source: AutoGuide, Motor1 View full article
  17. Rolls-Royce has made it clear that it plans on introducing electric powertrains to their vehicles in the future once the technology has fully developed and customers want one. But new regulations are forcing their hand. Rolls' CEO Torsten Müller-Ötvös told Car and Driver that the Phantom will receive the option of an electric powertrain sometime during its lifecycle. The platform that underpins the Phantom and future models have been built with electrification in mind. “We are more regulator driven than consumer driven. We might well see, in the next decade, some Asian markets closing down city centers to combustion engines completely. And then, of course, [electrification] is a must,” said Müller-Ötvös. Müller-Ötvös admitted that no one is clamoring for an electric Rolls at this time, but expects that situation to change in the next 10 years or so. Source: Car and Driver
  18. Rolls-Royce has made it clear that it plans on introducing electric powertrains to their vehicles in the future once the technology has fully developed and customers want one. But new regulations are forcing their hand. Rolls' CEO Torsten Müller-Ötvös told Car and Driver that the Phantom will receive the option of an electric powertrain sometime during its lifecycle. The platform that underpins the Phantom and future models have been built with electrification in mind. “We are more regulator driven than consumer driven. We might well see, in the next decade, some Asian markets closing down city centers to combustion engines completely. And then, of course, [electrification] is a must,” said Müller-Ötvös. Müller-Ötvös admitted that no one is clamoring for an electric Rolls at this time, but expects that situation to change in the next 10 years or so. Source: Car and Driver View full article
  19. FCA CEO Still Thinks Electric Cars Are Not Viable

    If there is one thing the Fiat Chrysler CEO Sergio Marchionne has been consistent on aside from changing his mind on a number of things is his dislike on electric vehicles. Speaking to reporters this week at the New York Stock Exchange, Marchionne said there isn't a viable economic model for electric cars. "We still don't have a viable economic model for delivering an electric car. As much as I like Elon Musk, and he's a good friend and actually he's done a phenomenal job of marketing Telsa, I remain unconvinced of a ... economic viability of the model that he's pitching," said Marchionne. Marchionne believes the costs for batteries and the various technologies need to come down to make them viable. Otherwise, automakers should focus on developing hybrid and plug-in hybrid powertrains. "So how do we find a convergence of technology bringing prices of components down and allows us to price accordingly — or we need to navigate through this process in a combined way between combustion and electrification to yield at least a minimum of economic returns that allows for our continuity? The last thing you want is me to be successful selling cars for 24 months and then go bust. That's not a good story. Especially in a place like this which rewards economic success. Let's not sit here and design our own future in the tank. Let's try and do it properly. We will do all the right things. We are investing without making a lot of noise on electrification. We will combine it with combustion to yield the right level of CO2. But we're not betting the bank on going fully electric in the next decade. It won't happen," said Marchionne. Source: The Street
  20. If there is one thing the Fiat Chrysler CEO Sergio Marchionne has been consistent on aside from changing his mind on a number of things is his dislike on electric vehicles. Speaking to reporters this week at the New York Stock Exchange, Marchionne said there isn't a viable economic model for electric cars. "We still don't have a viable economic model for delivering an electric car. As much as I like Elon Musk, and he's a good friend and actually he's done a phenomenal job of marketing Telsa, I remain unconvinced of a ... economic viability of the model that he's pitching," said Marchionne. Marchionne believes the costs for batteries and the various technologies need to come down to make them viable. Otherwise, automakers should focus on developing hybrid and plug-in hybrid powertrains. "So how do we find a convergence of technology bringing prices of components down and allows us to price accordingly — or we need to navigate through this process in a combined way between combustion and electrification to yield at least a minimum of economic returns that allows for our continuity? The last thing you want is me to be successful selling cars for 24 months and then go bust. That's not a good story. Especially in a place like this which rewards economic success. Let's not sit here and design our own future in the tank. Let's try and do it properly. We will do all the right things. We are investing without making a lot of noise on electrification. We will combine it with combustion to yield the right level of CO2. But we're not betting the bank on going fully electric in the next decade. It won't happen," said Marchionne. Source: The Street View full article
  21. General Motors is the latest automaker that is preparing for an emissions-free future. Today at GM's technical center in Warren, MI, the company announced plans to introduce 20 electric and hydrogen vehicles by 2023. The first two models of this plan will launch in the next 18 months and will be "based off learnings" from the Chevrolet Bolt. “General Motors believes in an all-electric future. Although that future won't happen overnight, GM is committed to driving increased usage and acceptance of electric vehicles through no-compromise solutions that meet our customers' needs,” said Mark Reuss, General Motors executive vice president of Product Development, Purchasing and Supply Chain in a statement. Those who were at the technical center got a preview of three clay models featuring the next-generation electric powertrain - a Buick crossover (Encore replacement?), Cadillac wagon, and a pod-looking vehicle. GM is also working on building out vehicles using hydrogen powertrains. "General Motors believes in an all-electric future... Our electric solution cannot be 'one size fits all.' We believe you need two different flavors of electrification — battery electric and fuel cell electric." GM showed off SURUS (Silent Utility Rover Universal Superstructure) which takes the idea of the skateboard hydrogen chassis from the Hy-Wire concept and makes it quite larger - about the size of a commercial truck chassis. Source: Automotive News (Subscription Required), Green Car Reports , Roadshow, GM Press Release is on Page 2 GM Outlines All-Electric Path to Zero Emissions DETROIT — General Motors announced today how it is executing on a major element of its vision of a world with zero crashes, zero emissions and zero congestion, recently announced by GM Chairman and CEO Mary Barra. “General Motors believes in an all-electric future,” said Mark Reuss, General Motors executive vice president of Product Development, Purchasing and Supply Chain. “Although that future won't happen overnight, GM is committed to driving increased usage and acceptance of electric vehicles through no-compromise solutions that meet our customers' needs.” In the next 18 months, GM will introduce two new all-electric vehicles based off learnings from the Chevrolet Bolt EV. They will be the first of at least 20 new all-electric vehicles that will launch by 2023. Given customers' various needs, getting to a zero emissions future will require more than just battery electric technology. It will require a two-pronged approach to electrification — battery electric and hydrogen fuel cell electric depending on the unique requirements. GM also introduced SURUS — the Silent Utility Rover Universal Superstructure — a fuel cell powered, four-wheel steer concept vehicle on a heavy-duty truck frame that’s driven by two electric motors. With its capability and flexible architecture, SURUS could be used as a delivery vehicle, truck or even an ambulance — all emissions free.
  22. General Motors is the latest automaker that is preparing for an emissions-free future. Today at GM's technical center in Warren, MI, the company announced plans to introduce 20 electric and hydrogen vehicles by 2023. The first two models of this plan will launch in the next 18 months and will be "based off learnings" from the Chevrolet Bolt. “General Motors believes in an all-electric future. Although that future won't happen overnight, GM is committed to driving increased usage and acceptance of electric vehicles through no-compromise solutions that meet our customers' needs,” said Mark Reuss, General Motors executive vice president of Product Development, Purchasing and Supply Chain in a statement. Those who were at the technical center got a preview of three clay models featuring the next-generation electric powertrain - a Buick crossover (Encore replacement?), Cadillac wagon, and a pod-looking vehicle. GM is also working on building out vehicles using hydrogen powertrains. "General Motors believes in an all-electric future... Our electric solution cannot be 'one size fits all.' We believe you need two different flavors of electrification — battery electric and fuel cell electric." GM showed off SURUS (Silent Utility Rover Universal Superstructure) which takes the idea of the skateboard hydrogen chassis from the Hy-Wire concept and makes it quite larger - about the size of a commercial truck chassis. Source: Automotive News (Subscription Required), Green Car Reports , Roadshow, GM Press Release is on Page 2 GM Outlines All-Electric Path to Zero Emissions DETROIT — General Motors announced today how it is executing on a major element of its vision of a world with zero crashes, zero emissions and zero congestion, recently announced by GM Chairman and CEO Mary Barra. “General Motors believes in an all-electric future,” said Mark Reuss, General Motors executive vice president of Product Development, Purchasing and Supply Chain. “Although that future won't happen overnight, GM is committed to driving increased usage and acceptance of electric vehicles through no-compromise solutions that meet our customers' needs.” In the next 18 months, GM will introduce two new all-electric vehicles based off learnings from the Chevrolet Bolt EV. They will be the first of at least 20 new all-electric vehicles that will launch by 2023. Given customers' various needs, getting to a zero emissions future will require more than just battery electric technology. It will require a two-pronged approach to electrification — battery electric and hydrogen fuel cell electric depending on the unique requirements. GM also introduced SURUS — the Silent Utility Rover Universal Superstructure — a fuel cell powered, four-wheel steer concept vehicle on a heavy-duty truck frame that’s driven by two electric motors. With its capability and flexible architecture, SURUS could be used as a delivery vehicle, truck or even an ambulance — all emissions free. View full article
  23. There are more expenses to owning a new car aside from making a monthly payment. You have gas, maintenance, repairs, and depreciation to worry about. The total cost according to a new study from AAA will depend on the type of vehicle you're driving. AAA's Your Driving Costs study reports that average cost to own and operate a new vehicle in 2017 is $8,469 per year - $706 per month. The study looked at 45 new vehicles from the 2017 model year and evaluated the various costs such as gas and maintenance, but not insurance and monthly payment. When broken down into individual segments, small sedans are the cheapest ($6,354 annually) and trucks are the most expensive ($10,054). This year's Your Driving Costs study saw hybrid and electric vehicles being separated for the first time. EV's are just under the average with an annual cost of $8,439, But EVs have horrendous depreciation - losing $5,704 on average per year. “Although electric vehicles can have higher up-front costs, lower fuel and maintenance costs make them a surprisingly affordable choice in the long run. For even lower costs, car shoppers can avoid high depreciation costs by selecting a used electric vehicle,” said John Nielsen, AAA’s managing director of Automotive Engineering and Repair in a statement. Source: AAA Press Release is on Page 2 AAA Reveals True Cost of Vehicle Ownership Average new vehicle will cost nearly $8,500 annually to own and operate Owning and operating a new vehicle in 2017 will cost a driver an average of $8,469 annually, or $706 each month, according to a new study from AAA. The annual evaluation of driving costs reveals that small sedans are the least expensive vehicles to drive at $6,354 annually, however small SUVs ($7,606), hybrids ($7,687) and electric vehicles ($8,439) all offer lower-than-average driving costs to U.S. drivers. Conversely, of the nine categories included in the evaluation, pickup trucks are the most expensive vehicles to drive at $10,054 annually. “Determining the cost of a new vehicle car is more than calculating a monthly payment,” cautioned John Nielsen, AAA’s managing director of Automotive Engineering and Repair. “While sales price is certainly a factor, depreciation, maintenance, repair and fuel costs should be equally important considerations for anyone in the market for a new vehicle.” In addition to analyzing the ownership costs for sedans, SUVs and minivans, AAA’s Your Driving Costs study added four new vehicle segments in 2017 – small SUVs, pickup trucks, hybrids and electric vehicles. Vehicle Type Annual Cost* Small Sedan: $6,354 Small SUV: $7,606 Hybrid: $7,687 Medium Sedan: $8,171 Electric Vehicle: $8,439 Large Sedan: $9,399 Medium SUV: $9,451 Pickup Truck: $10,054 Average: $8,469 *Based on 15,000 miles driven annually To estimate the overall cost to own and operate a new vehicle, AAA evaluated 45 2017 model-year vehicles across nine categories and focused on mid-range, top-selling vehicles. AAA’s annual driving cost is based on a sales-weighted average of the individual costs for all of the vehicle types. Key findings include: Depreciation Depreciation — the declining value of a vehicle over time — is the biggest, and most often overlooked, expense associated with purchasing a new car. New vehicles lose an average of $15,000 in value during the first five years of ownership. In 2017, small sedans ($2,114) and small SUVs ($2,840) have the lowest annual depreciation costs, while minivans ($3,839) and electric vehicles ($5,704) are at the high end of the scale. Maintenance and repair To calculate annual maintenance and repair costs, AAA examined factory-recommended maintenance, replacement tires, extended warranty costs and services associated with typical wear-and-tear. New vehicles, on average, will cost a driver $1,186 per year to maintain and repair. The inevitable costs associated with maintenance and repair should be an important consideration for car shoppers, as a recent AAA survey found that one-third of U.S. drivers could not afford an unexpected repair bill. AAA Approved Auto Repair facilities offer free vehicle inspections, AAA member discounts and a 24-month/24,000-mile warranty for AAA members. Visit AAA.com/AutoRepair to find a nearby facility. Fuel Fuel costs vary significantly by vehicle type, ranging from 3.68 cents per mile (electric vehicles) to 13.88 cents per mile (pickup trucks). New vehicle owners, on average, will spend just over 10 cents per mile – about $1,500 annually — to fuel their vehicles. For gasoline-powered vehicles, AAA recommends selecting a TOP TIER gasoline, as its independent research found it to keep engines 19 times cleaner, improving vehicle performance and fuel economy. AAA cautions drivers that using premium-grade gasoline in a vehicle that does not specifically require it is an unnecessary expense. Electric Vehicles New to the Your Driving Costs study in 2017, AAA found that electric vehicles have lower-than-average driving costs at $8,439 per year. Without a gasoline engine to maintain, electric vehicles have the lowest annual maintenance and repair costs, at $982 per year. By relying on electricity instead of gasoline, fuel costs are also significantly lower than average, at under four cents per mile. Depreciation, however, is currently extremely high for these vehicles, losing an average of nearly $6,000 in value every year. A recent AAA survey revealed that 1-in-6 Americans are likely to choose an electric vehicle, the majority motivated by their lower long-term ownership costs. “Although electric vehicles can have higher up-front costs, lower fuel and maintenance costs make them a surprisingly affordable choice in the long run,” said Nielsen. “For even lower costs, car shoppers can avoid high depreciation costs by selecting a used electric vehicle.” View full article
  24. There are more expenses to owning a new car aside from making a monthly payment. You have gas, maintenance, repairs, and depreciation to worry about. The total cost according to a new study from AAA will depend on the type of vehicle you're driving. AAA's Your Driving Costs study reports that average cost to own and operate a new vehicle in 2017 is $8,469 per year - $706 per month. The study looked at 45 new vehicles from the 2017 model year and evaluated the various costs such as gas and maintenance, but not insurance and monthly payment. When broken down into individual segments, small sedans are the cheapest ($6,354 annually) and trucks are the most expensive ($10,054). This year's Your Driving Costs study saw hybrid and electric vehicles being separated for the first time. EV's are just under the average with an annual cost of $8,439, But EVs have horrendous depreciation - losing $5,704 on average per year. “Although electric vehicles can have higher up-front costs, lower fuel and maintenance costs make them a surprisingly affordable choice in the long run. For even lower costs, car shoppers can avoid high depreciation costs by selecting a used electric vehicle,” said John Nielsen, AAA’s managing director of Automotive Engineering and Repair in a statement. Source: AAA Press Release is on Page 2 AAA Reveals True Cost of Vehicle Ownership Average new vehicle will cost nearly $8,500 annually to own and operate Owning and operating a new vehicle in 2017 will cost a driver an average of $8,469 annually, or $706 each month, according to a new study from AAA. The annual evaluation of driving costs reveals that small sedans are the least expensive vehicles to drive at $6,354 annually, however small SUVs ($7,606), hybrids ($7,687) and electric vehicles ($8,439) all offer lower-than-average driving costs to U.S. drivers. Conversely, of the nine categories included in the evaluation, pickup trucks are the most expensive vehicles to drive at $10,054 annually. “Determining the cost of a new vehicle car is more than calculating a monthly payment,” cautioned John Nielsen, AAA’s managing director of Automotive Engineering and Repair. “While sales price is certainly a factor, depreciation, maintenance, repair and fuel costs should be equally important considerations for anyone in the market for a new vehicle.” In addition to analyzing the ownership costs for sedans, SUVs and minivans, AAA’s Your Driving Costs study added four new vehicle segments in 2017 – small SUVs, pickup trucks, hybrids and electric vehicles. Vehicle Type Annual Cost* Small Sedan: $6,354 Small SUV: $7,606 Hybrid: $7,687 Medium Sedan: $8,171 Electric Vehicle: $8,439 Large Sedan: $9,399 Medium SUV: $9,451 Pickup Truck: $10,054 Average: $8,469 *Based on 15,000 miles driven annually To estimate the overall cost to own and operate a new vehicle, AAA evaluated 45 2017 model-year vehicles across nine categories and focused on mid-range, top-selling vehicles. AAA’s annual driving cost is based on a sales-weighted average of the individual costs for all of the vehicle types. Key findings include: Depreciation Depreciation — the declining value of a vehicle over time — is the biggest, and most often overlooked, expense associated with purchasing a new car. New vehicles lose an average of $15,000 in value during the first five years of ownership. In 2017, small sedans ($2,114) and small SUVs ($2,840) have the lowest annual depreciation costs, while minivans ($3,839) and electric vehicles ($5,704) are at the high end of the scale. Maintenance and repair To calculate annual maintenance and repair costs, AAA examined factory-recommended maintenance, replacement tires, extended warranty costs and services associated with typical wear-and-tear. New vehicles, on average, will cost a driver $1,186 per year to maintain and repair. The inevitable costs associated with maintenance and repair should be an important consideration for car shoppers, as a recent AAA survey found that one-third of U.S. drivers could not afford an unexpected repair bill. AAA Approved Auto Repair facilities offer free vehicle inspections, AAA member discounts and a 24-month/24,000-mile warranty for AAA members. Visit AAA.com/AutoRepair to find a nearby facility. Fuel Fuel costs vary significantly by vehicle type, ranging from 3.68 cents per mile (electric vehicles) to 13.88 cents per mile (pickup trucks). New vehicle owners, on average, will spend just over 10 cents per mile – about $1,500 annually — to fuel their vehicles. For gasoline-powered vehicles, AAA recommends selecting a TOP TIER gasoline, as its independent research found it to keep engines 19 times cleaner, improving vehicle performance and fuel economy. AAA cautions drivers that using premium-grade gasoline in a vehicle that does not specifically require it is an unnecessary expense. Electric Vehicles New to the Your Driving Costs study in 2017, AAA found that electric vehicles have lower-than-average driving costs at $8,439 per year. Without a gasoline engine to maintain, electric vehicles have the lowest annual maintenance and repair costs, at $982 per year. By relying on electricity instead of gasoline, fuel costs are also significantly lower than average, at under four cents per mile. Depreciation, however, is currently extremely high for these vehicles, losing an average of nearly $6,000 in value every year. A recent AAA survey revealed that 1-in-6 Americans are likely to choose an electric vehicle, the majority motivated by their lower long-term ownership costs. “Although electric vehicles can have higher up-front costs, lower fuel and maintenance costs make them a surprisingly affordable choice in the long run,” said Nielsen. “For even lower costs, car shoppers can avoid high depreciation costs by selecting a used electric vehicle.”
  25. Hyundai Hops Aboard the EV Train

    Hyundai had a put a lot of confidence into hydrogen being the future power source for vehicles. But much like Toyota, the Korean automaker is realizing that electrics are the way of the future and they might want to jump on the bandwagon soon. Today at a press conference in Seoul, Hyundai announced that it would be placing electric vehicles front and center with plans to launch several long-range EVs in the coming years. This includes an electric version of the Kona early next year and an electric sedan for Genesis in 2021 that is expected to have a range of 310 miles. Hyundai also confirmed a report by Reuters saying the company is working on a dedicated EV platform. "We're strengthening our eco-friendly car strategy, centering on electric vehicles," said Hyundai Executive Vice President Lee Kwang-guk. Hyundai isn't fully giving up on hydrogen. The automaker showed a concept version of its new fuel cell SUV that will replace the Tucson Hydrogen. Hyundai says the model can go 360 miles on one tank of hydrogen. It will launch in Korea next year, with the U.S. and Europe following sometime after. Source: Reuters

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