Europe Can Win Electric Car Sales Race If It Learns From China

(Bloomberg) — Sales of electric vehicles in Europe are growing at such a pace that the continent looks increasingly likely to outpace China in the near future.

Loading...

Load Error

That’s one of the findings of a report released Tuesday by London-based automotive research firm Jato Dynamics. However, it found that Europe and the U.S. still have a few things to learn from China, the world’s biggest EV market, including prioritizing affordability, centralizing planning, and using data to better understand consumers.

Demand for cleaner and smarter cars is rising globally, particularly in Europe where the market has been bolstered by tighter emissions regulations along with an increasing awareness of climate change. EV sales in Europe in the first half exceeded China for the first time since 2015.

Although the coronavirus pandemic hurt all car sales, including EVs, which fell 15% globally in the second quarter, the market for electric vehicles is forecast to expand about 7% this year, led by Europe, according to a September report from BloombergNEF.

“What governments in underdeveloped EV markets now need is a more centralized plan to catalyze growth and create an optimal environment to build consumer confidence by making adoptions as simple as possible,” Jato’s report said.

Charging Stations

Besides heavily subsidizing EVs, the government in China has created an effective infrastructure and implementation strategy that’s crucial to supporting adoption, the report found. According to the International Energy Agency, the number of public slow- and fast-charging spots reached 862,118 worldwide, with China taking a 60% share.

Tesla Inc., the California-based company that’s currently the world’s biggest EV maker, earlier this month cut the price of its China-made Model 3 sedan to 249,900 yuan ($36,800), cheaper than anywhere else, aided by supply chain localization, especially batteries.

While subsidies in China are being dialed back, EVs are

Hyundai begins building electric vehicle hub in Singapore

SINGAPORE (Reuters) – South Korea’s Hyundai Motor Co started construction on a research and development centre in Singapore on Tuesday that will house a small-scale electric vehicle production facility.

Speaking at the groundbreaking ceremony, Singapore Prime Minister Lee Hsien Loong said the facility may produce up to 30,000 electric vehicles (EVs) annually by 2025 and represents an investment of S$400 million ($295 million).

Singapore is one of the world’s most expensive places to buy a car and does not currently have any auto manufacturing capacity. But the wealthy city-state has set out ambitious plans to phase out petrol vehicles by 2040.

“Automotive activities are becoming viable in Singapore once again. EVs have a different supply chain, fewer mechanical parts and more electronics, which plays to Singapore’s strengths,” PM Lee said.

A Hyundai spokeswoman confirmed the 30,000 unit target but said that the exact capacity was yet to be determined. The facility is due for completion by end 2022, the firm said in a statement.

The announcement comes after vacuum cleaner company Dyson last year scrapped plans to build an electric car in Singapore, saying it was not commercially viable.

Singapore plans to phase out petrol and diesel vehicles by 2040, and make a bigger bet on electrification to cut greenhouse gases and slow climate change.

Hyundai said in a statement its new Singapore facility aims to be carbon neutral by using solar and hydrogen energy, will utilise technologies such as artificial intelligence and robotics, and will include a test drive track for customers.

The centre is part of Hyundai’s vision to enable future vehicle buyers to customize and purchase vehicles online using a smartphone, allowing production to be on-demand.

($1 = 1.3590 Singapore dollars)

(Reporting by John Geddie and Aradhana Aravindan in Singapore; Editing by Ana Nicolaci da Costa)

S

Tesla Model 3 Price Too High? Dirt-Cheap Used Electric Cars Can Be Good Deals

The used EV has arrived.

It was only nine years ago that the first won’t-break-the-bank electric cars arrived.

Those non-Tesla EVs — like the Nissan Leaf and Chevy Volt — weren’t priced at $80,000 like the Model S and the first- and second- generations of those cars have been hitting the used car market over the last several years.

And with a Long Range 2020 Tesla Model 3 starting at about $47,000, “dirt cheap” for an EV is anything under $20,000.

A couple of the better sites for used EVs are MYEV and CarGurus.

Most of the used EVs cited below are first- and second-generation electrics that were sold roughly between 2011 and 2017.

Note: all prices are based on a used vehicle with under 40,000 miles. Price ranges are typical but some listings may be lower or higher:

Table notes:

*Used Nissan Leaf EPA-rated battery range depends on year and model: typically, the older (pre-2018), cheaper Leaf models have 107 miles of range while the newer have 150 miles. The oldest Leaf models have a range from approximately 70 to 84 miles. I am not including the oldest 70-75 mile range models, which typically start at about $5,000.

*Used Volkswagen e-Golf EPA-rated battery range depends on year and model: typically, the older (pre-2018), cheaper e-Golf models have 83 miles of range while the newer have 125 miles.

**Chevy Volt is an EV but is also referred to as a plug-in hybrid because it has a range-extending gas-engine generator that boosts the total range to 420 miles