China Pushes Electric Vehicles and Makes Producing Fossil Fuel Vehicles Tougher

In Brief Chinese carmakers have been issued new standards by the government as part of a plan to reduce the manufacture of fossil fuel-powered vehicles. China is becoming a leader in reducing fossil fuel emissions.

China's New EV Rules

China has announced that automakers that want to manufacture fossil fuel-powered cars first must produce low-emission and zero-emission cars to attain a new energy vehicle score. The new rule applies to companies that make or import more than 30,000 fossil fuel cars annually. This means that by 2019, carmakers must be producing a fleet with a total of 10% or more electric vehicles, and 12% or more by 2020.

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China's new rule is part of an aggressive plan to phase out fossil fuel vehicles, a goal it shares with the UK and France, which both plan to ban sales of fossil fuel cars by 2040. A recent report indicates that China's auto market will be all electric by 2030. While the country's original plan was to ban fossil fuel vehicles outright — which was criticized as too ambitious — this revised version of the plan is aggressive, yet workable, allowing automakers time to adjust to the changing market.

Reducing Emissions Worldwide

This is part of a larger effort on China's part to reduce carbon emissions and fossil fuel dependency. In 2017 alone, China has surpassed many of its own ambitious environmental goals. By August, the country had already reached its 2020 solar energy installation target, reasserting itself as the largest producer of solar power on earth. In June, an entire region of China ran on 100 percent renewables for seven days. China has begun to build a large-scale carbon capture and storage plant — the first of eight — as part of its attempts to reduce its carbon footprint. The nation has invested more into renewables than any other country in the world, including the US, and has begun to reap the benefits, turning around many of its pollution problems.

The move toward electric vehicles is global. California is considering a ban on the sale of fossil fuel vehicles, and when it comes to technology, California is a national trendsetter for the US. Research shows electric vehicles will dominate the European market by 2035. India will sell only electric cars within the next 13 years, gutting emissions significantly. This latest development is merely the next link in a long, global chain.

Source: China Pushes Electric Vehicles and Makes Producing Fossil Fuel Vehicles Tougher

Why Dyson, vacuum cleaner company, is getting into the electric car business

Everyone needs to switch up their routine, even vacuum cleaner maker Dyson, luxury car manufacturer Aston Martin and fast-food chain Taco Bell YUM, +0.15% This week, Dyson said it will start selling electric cars in 2020, Aston Martin showcased a new submarine with Triton Submarines and Taco Bell unveiled a clothing line with Forever 21. Why such radical changes?

See: The most valuable brands in the world, in one chart

They know that how their brands make customers feel is almost as important as the product, experts say, but also realize they must keep up with the increasing public expectations in a futuristic era of drones, Space-X and the hoopla surrounding multiple iPhone upgrades. In short, they can't afford to rely on the success of their previous products, and they can't be afraid to try something new.

The companies put it slightly differently. Dyson would like to help the environment, spokeswoman Olya Leptoukh said. (It's likely also interested in emulating Tesla's TSLA, +0.44%  success in this area.) Aston Martin already has its roots in engineering and technology. Taco Bell and Forever 21 are generating publicity with limited edition tops, body suits and hoodies featuring "vibrant prints."

An abrupt change of direction can work, especially if the company knows its target audience, said Bob Phibbs, chief executive officer of the Retail Doctor, a New York-based consultancy firm. "You really want the consumer to say, 'What are they doing? Oh, that's cool.' You never want them to say, 'What are they doing? That makes no sense.'" Dyson and Aston Martin are doing the latter, he said.

Dyson has been disrupting the vacuum cleaner and hair dryer industries for decades, and the leap to cars is a logical one, Leptoukh said. "The automotive industry will no doubt bring its set of challenges, but we are comfortable with challenge," she said. "And we are working with the same core competencies we've been working on for years — primarily motors and batteries."

See also: Express partnership with supermodel Karlie Kloss isn't enough to raise brand recognition

Of course, Dyson, Aston Martin and Taco Bell aren't the only ones shaking up their product offerings. Netflix NFLX, +0.36% once sent DVDs to its subscribers, but now streams movies and shows and even produces them. It's now a household name and industry leader. Wal-Mart's WMT, -1.03%  e-commerce site Jet.com will soon release its first private-label grocery brand.

Clorox CLX, +1.45%  is a prime example of a company that made a successful shift and even made something drab sort of cool, Phibbs said. It was originally known only for its bleach, but expanded to include cleaning supplies for pet messes, toilets and disinfecting. Going too far off the company's path would risk diluting the brand, and losing customers, he added.

Source: Why Dyson, vacuum cleaner company, is getting into the electric car business

Japan's Toyota, Mazda and Denso to tie up to develop electric vehicles

Tomohiro Ohsumi | Getty Images

Toyota President Akio Toyoda nd Mazda President and CEO Masamichi Kogai at a joint press conference on August 4, 2017 in Tokyo, Japan.

Toyota is establishing a new venture to develop electric vehicle technology with partner Mazda, seeking to catch up with rivals in an increasingly frenetic race to produce more battery-powered cars.

Policymakers in key markets like China are aggressively pushing a shift to electric cars over the next two to three decades, pressuring traditional automakers to crank up their electric vehicle (EV) plans — just as declining battery costs enable more power to be packed into cars.

Toyota said in a statement the new company will develop technology for a range of electric cars, including minivehicles, passenger cars, SUVs and light trucks.

Toyota will take a 90 percent stake in the joint venture, called EV Common Architecture Spirit, while Mazda and Denso, Toyota's biggest supplier, will each take a 5 percent stake.

The plans build on a partnership announced in August when Japan's biggest automaker agreed to take a 5 percent stake in Mazda and two said they would jointly develop affordable electric vehicle technologies.

Source: Japan's Toyota, Mazda and Denso to tie up to develop electric vehicles

Dyson’s plan to join electric car race a big gamble

James Dyson is to open a new campus in Wiltshire, where he is likely to develop electric cars © FT montage; Heathcliff O'Malley

It was in 1993 that a floppy-haired inventor appeared on the British children's television programme Blue Peter with a filter for car engines that he said could suck harmful particles out of a diesel exhaust to produce clean air.

The creator was James Dyson, then gaining attention for a bagless vacuum cleaner that was the first product from his young eponymous brand that was to make him a household name and put him on the map as one of Britain's most original inventors.

But carmakers were not interested in the filter, so he switched focus to develop his bagless cleaners that have since made him a billionaire and one of Britain's richest men.

Now, more than two decades later, Sir James, who was knighted in the 2007 New Year honours list, is back in the car game, revealing this week that he is in the race to build the vehicles of the future.

"I decided to start developing electric motors and batteries," says Sir James as he believes the only solution to mounting air pollution was electric cars.

His company plans to develop a suite of fully electric vehicles with the first expected to hit the roads by 2020, although he has not decided where to manufacture the batteries or the cars.

Despite having moved its production to Asia, Sir James said the UK was a strong candidate as a manufacturing location for the car, but added that China would be its largest market because of concerns over air quality.

Significantly, the products will be developed in-house without the help of any established carmakers in a £2bn investment that represents the most audacious wager yet by the billionaire entrepreneur.

The endeavour is fraught with risks as the car industry goes through a time of intense change and technological disruption.

It will test the engineering and marketing capabilities of a company sometimes referred to as the "UK's Apple" as it puts the group up against the juggernauts of the car sector.

The likes of Volkswagen, Daimler, Ford, GM and the Renault-Nissan Alliance will make tough competitors — as will Tesla, the pure electric carmaker and Silicon Valley group that has done much to disrupt the industry.

"I think they can do it, but it's going to be very difficult," says Erik Gordon, clinical assistant professor at the University of Michigan's Ross School of Business. "It's very high-risk . . . He could be risking his company."

If he can pull it off, it would mark a crowning moment for Sir James, whose privately owned Dyson group has transformed the household consumer goods sector with products ranging from hairdryers to air purifiers.

"The chances of success are pretty high as Dyson is such a fantastic individual and makes things happen," says Steve Carden of PA Consulting. "[But] while Dyson is a brilliant manufacturer of things and has supply chains set up, there's something about cars, which is an order of magnitude harder to make work."

Sir James has 400 engineers working on the project, which began two-and-a-half years ago. He says the motor for the car is ready after drawing on his company's core strengths, with its long experience of building powerful miniature motors.

Dyson found success with vacuum cleaners, then branched into washing machines, hair dryers, hand dryers and air conditioning with varying success © FT montage

The company's credentials developing batteries go back further, almost two decades. Rather than liquid batteries found in current electric cars, Sir James will use "solid state" cells, which are safer, hold higher power and charge more quickly.

Toyota has said it expects to launch cars powered by solid-state batteries in the 2020s, while other manufacturers are also working on comparable versions of a technology expected to dominate motor vehicles by the middle of this century.

Although Sir James has disclosed few other details, seasoned industry analysts rate his chances for success highly.

"While it is certainly too early to say whether Dyson can make a successful entry into the [electric vehicle] market, we acknowledge that it is a company with a record for strong products and genuine engineering innovation," wrote analysts at ISI Evercore.

The company has a Midas touch in most of the areas it has entered since vacuum cleaners; a notable exception was its washing machines, which were lossmaking and discontinued.

Sir James will spend £1bn on the battery, £1bn on designing and making the car and expects to make a profit.

However, this comes out of a previously announced £2.5bn investment plan underpinning a broader expansion, which includes the development of technologies such as robotics, artificial intelligence and vision systems.

Tesla, a listed company, has repeatedly tapped investors for capital to fund production as it ramps up to become a major force in the car industry. As a privately owned group, Dyson does not have the same options.

Philippe Houchois, an analyst at Jefferies, says Dyson will need greater access to funds if it is to provide financing for consumers to buy its vehicle — or even more if it rents cars to consumers under a subscription model, something it is considering.

"If you provide leasing, then own the asset and it's a totally different capital requirement," adds Mr Houchois. "That's when you tip this privately owned enterprise into the need to go public because the capital requirements are massive."

Source: Dyson's plan to join electric car race a big gamble

Dyson Is Developing and Electric Car and Wants It on the Streets by 2020

From vacuum cleaners to hairdryers to — electric cars.

British engineering and design guru James Dyson confirmed Tuesday rumors that have been circulating for months, announcing that his company is developing a battery electric vehicle and wants to bring it to market within three years.

"Dyson has begun work on a battery electric vehicle, due to be launched by 2020," the company's founder said in an e-mail to employees. "We've started building an exceptional team that combines top Dyson engineers with talented individuals from the automotive industry. The team is already over 400 strong, and we are recruiting aggressively."

Speculation about an electric vehicle project has been rife since the company bought a disused military facility in England's West Country big enough to accommodate a testing circuit.

Dyson said he was "committed to investing 2 billion pounds ($2.7 billion at current exchange rates) on this endeavor."

Read: Britain's Old Guard Tries to Rally the Faltering Brexit Troops

Dyson promised the project "will grow quickly from here" but said it wouldn't release any further information, due to competition concerns. "We must do everything we can to keep the specifics of our vehicle confidential."

The venture represents a huge departure for a company that has so far kept itself to relatively small-scale appliances. It's also by some way the biggest independent British venture into car production in decades, given that all of the country's famous brands such as Rolls-Royce and Mini (BMW), Bentley (Volkswagen) and Jaguar (Tata Motors) are foreign-owned.

Dyson said he was driven by the desire to solve a growing crisis with air pollution from "smog-belching cars, lorries (trucks) and buses." He noted that he had first tried to solve the problem nearly 20 years ago by inventing filters to capture soot particles in car exhausts but had not found a market."

"In the period since, governments around the world have encouraged the adoption of oxymoronically designated 'clean diesel' engines through subsidies and grants," he said. "Major auto manufacturers have circumvented and duped clean air regulations."

Read: How James Dyson Created a $3 Billion Vacuum Empire

In that respect, the project offers the chance of sweet revenge on a German manufacturing lobby that he says has bent the rules of the EU's single market to suit itself and shut out competitors like him. The announcement comes at a time when Volkswagen, Daimler and BMW are all in the awkward position of having invested heavily in diesel, a technology that has been discredited by Volkswagen's emissions scandal.

Source: Dyson Is Developing and Electric Car and Wants It on the Streets by 2020

No plans to launch electric vehicles in India: Toyota

There's buzz around EVs in the domestic auto industry with the government's aggressive push towards e-mobility.

Hyderabad, Sep 23:  

Toyota has no plans to launch an electric vehicle in India and would wait for the charging infrastructure to develop before taking a call on launching such models, according to a senior official of Toyota Kirloskar Motor (TKM).

"We have no plans to go electric," vice chairman and whole-time director of TKM, Shekar Viswanathan told PTI over buzz around EVs (electric vehicles) in the domestic auto industry with the government's aggressive push towards e-mobility.

TKM is a joint venture between the Japanese auto major and Kirloskar Group. "Toyota (Motor Corporation) does have an electric vehicle (in its portfolio and launched in some overseas markets) but we (TKM) will wait for the charging infrastructure to come up in India before we ask Toyota Motor Corporation to give us (TKM) electric vehicle products," he said.

Viswanathan said electric vehicle technology is very simple and so, it's not very difficult to introduce such models, and agreed with the view that TKM can launch EVs at short notice. "We (TKM) already have an electric vehicle in the hybrid, which is an electric vehicle...except that if we take away the internal combustion engine, it will become an all electric vehicle," he added.

On his expectation of TKM sales in the current financial year, Viswanathan said, "I do think it will go down slightly (compared to the previous fiscal) given the fact that GST rates have gone up."

(This article was published on September 23, 2017)

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Source: No plans to launch electric vehicles in India: Toyota

Electric cars are nowhere

The Frankfurt motor show is big. It's like if they took Sydney's international and domestic airports, tripled it in size, took away any form of cohesive internal transport and put lots of cars in it. Even then, I think the Frankfurt show is bigger.

Every two years when I attend the show I always vow that next time, I will actually see things. The problem is, the show is so big, and we have so many executives to interview, that it's all but impossible to actually see every one of the dozen or so halls that house the show. And each one of these halls is a gigantic display of extravagance as manufacturers try to outdo each other for sheer 'wow!' factor.

In saying all that, I did actually get to walk around a bit this year and the one thing that became bloody obvious was that 2017 Frankfurt motor show was all about electric mobility (don't fall asleep, yet).

BMW did an entire 30-minute presentation to the world's media as the very first scheduled item of day one, and didn't even mention its new Z4 concept. Instead, it was all electric this and electric that. Thankfully, no one fainted.

BMW even had people riding around on electric scooters and motorbikes during the presentation. I wouldn't have been surprised if they were also offering free hugs with Penguins. It was that ridiculous.

This is a brand that makes twin-turbo V8 performance cars that like to go sideways. This is a brand that less than a decade ago built the V10-powered M5, its engine derived from Formula One technology of the time! Who are they kidding? We want the old BMW back, thanks. We know it's just hiding in the background.

If you take all the hype and shameless self-promotion of electric mobility at face value, you would think that Elon Musk is right – electric cars are killing the internal combustion engine at a rapid rate. But that's simply not the case, not for a very long while anyway.

You see, while the German and the world's mainstream media continue to hammer the internal combustion engine (ICE), and more major cities talk about wanting to ban the ICE from a certain date, all the car companies seem paranoid to even mention development work on fossil fuel-powered vehicles. Well, except Mazda. It's almost as if, the entire talk track is about electric and anything other than that is blasphemy.

It makes great business sense, of course. No one wants to be targeted as the manufacturer that isn't focusing on 'future mobility'. It's not only bad for the company's share price, but the media backlash is unwarranted and unwanted.

Apart from Tesla (obviously), there is no mainstream car company today, that we can find, which will admit it's investing more of its research and development budget in electric vehicle development than the continued development of the internal combustion engine and its associated technologies. Think about that for a minute.

So lets look at the facts. In Europe, electric vehicle sales are up around 30 per cent, which seems huge, but on the whole they account for just under two per cent of the market. That's it. In Australia, pure electric vehicle sales are up year to date by more than 50 per cent, almost entirely thanks to Tesla and its Model S and Model X vehicles. Yet, with just around 750 sales from January to August this year, Tesla makes up a tiny 0.01 percent of the new car market! Yes, the end is nigh for ICE! Run for the hills, children.

Everyone from Mercedes, to BMW, Audi and even Porsche talked nothing but electrification. There were Greenpeace protesters at the Frankfurt show that held up signs indicating their displeasure at the likes of Volkswagen for not doing more to rid the world of the awfulness that is the ICE and particularly, its diesel engines.

So herein lies the crux of the problem. Dieselgate. It was Elon Musk's wet dream. If you actually track the share price of Tesla since Dieselgate hit the media (which happened two years ago this month), it is up more than 65 per cent. Volkswagen's share price nearly halved when Dieselgate broke, but it has recovered by around 48 per cent since. It is still down by nearly half since its peak highs in April 2015.

Volkswagen, or any of its brands, is not going to talk about pouring cash into the internal combustion engine. That would be seen as a big no-no by everyone involved. Can you imagine the headlines?

At the motorshow, the boss of Volkswagen Group – Matthias Mueller – talked loud and proud about investing 20 billion euros ($30 billion) in zero-emission vehicles by 2030.

Sounds impressive. If you break that up into the next 12 years, that's roughly $1.67 billion euros ($2.5 billion) each year invested into electric mobility. But, do you want to know what Volkswagen group's financials show for total R&D budget in fiscal year 2016? How about 11.5 billion euros ($17.5 billion). Yep!

Assuming the budget remains relatively unchanged going forward, only around 15 per cent of the brand's R&D budget is being spent on electric mobility. That makes sense, because most brands believe electric cars will only make up about 15-25 per cent of their model lineup by 2025-2030. So why the hell wouldn't they invest heavily into the other 75 or so per cent of their vehicles?

Is Volkswagen working on a new generation of diesel engines? Of course, it would be absolutely mad not to. But is VW going to talk about it? Not on your life.

BMW will, though. The boss of Mini was honest and proud enough to admit that diesel still has a very bright future at the BMW group and that the brand looks forward to selling plenty of them in the coming years. He even went on to say the current talk around diesel engines is not rational, but driven by political agendas, and he is dead right.

Am I saying we shouldn't embrace electric cars? Far from it. I love Tesla and what it has done for the industry, but it comes at the car from a different approach. Tesla doesn't make electric cars, Tesla makes a technology statement riding on four wheels. For that we love Tesla, dearly.

Let's be realistic about the uptake of EVs, however. They are not going to be the mainstream form of personal propulsion for many more decades. I would predict it would be more than likely that it will take at least until 2050 for the world's total vehicle sales to switch for the first time in favour of electric vehicles over those those using an ICE. This doesn't mean that some markets like California and parts of Europe don't get there far quicker. But globally, we are some time away.

So, while the marketing and PR departments of mainstream car companies are doing their very best to electrify us with their messaging, the reality is far different. There are tens of thousands of engineers around the world, at this very instant, who are working flat-out on the next-generation of internal combustion engine technologies, both petrol and diesel. There are more engineers doing that, than there are working on electric mobility. Believe it, because it's true.

Ignoring all the environmental issues of sourcing, making and recycling batteries, the electric mobility future we have all dreamed of is still coming. It's going to be good and we will save lots of penguins in the process, but it's not coming for a while.

MORE: Electric vehicle news and reviews

Source: Electric cars are nowhere

5 Cars That Would Be Better As Fully Electric Models

by Jared Rosenholtz5,950 reads

Not all cars should be EV, but these would be seriously great with some electrification.

Automakers seem to be on a mission to turn every car in their lineups into a hybrid or EV. Sometimes enthusiasts like to complain that certain cars should never include electrification. For example, we think that the Lamborghini Aventador would be worse if it was an EV. Part of what makes that car great is the sound and savage gear changes. This isn't the case with all cars though. There are certain models that we think would be much better if they had an EV drivetrain instead of a gas engine. Here are our top five cars that would be better off as EVs.

Rolls-Royce recently revealed its all-new Phantom VIII. This amazing flagship luxury car will pick up right where the previous Phantom left off by offering a buttery smooth 6.75-liter twin-turbo V12. Even though this engine produces 563 hp and 664 lb-ft of torque while barely making any noise, we think that the Phantom would be even better as an EV. This way, the car would be perfectly silent instead of just very silent. An EV drivetrain would also eliminate gear changes all together and give the car the smoothest acceleration possible. Rolls-Royce may build the most luxurious car, but it could still learn a few things from Tesla. On a very similar note of luxury, we think that the new Audi A8 could benefit from an EV model. We could have easily included rival German sedans like the BMW 7 Series and Mercedes S-Class on this list as well. These cars are all at the top of the technology pyramid in the auto industry. It would make sense that one of these cars should go electric and have incredible smoothness and performance that would match the high-class character of this segment. We chose the A8 simply because it is the newest of the three and features the most autonomous driving technology that would pair well with an EV drivetrain. The Lexus LS is the last luxury flagship on the list that we think should become an EV. We could also make a similar argument with the smaller Lexus ES sedan. Lexus has been trying to catch up with the German automakers by offering sporty, RWD cars with very good handling. This effort has been good, but we think that Toyota needs to go back to what has helped it succeed: electrification. Toyota and Lexus hybrid models were once at the forefront of technology, but have since turned into an afterthought compared to Tesla. We think that Lexus could reinvigorate the market with an EV model that would help it leapfrog its German rivals. The Range Rover Evoque is a bit of an oddball on this list. We chose the Evoque because we have always thought that this model never lived up to its full potential. The Evoque is extremely beautiful, but offers a very average 2.0-liter turbo four-cylinder that seems out of place in such a futuristic-looking car. We think that the Evoque would be perfect as the first EV model from Land Rover. Not many people actually use the Evoque off-road anyway, but we have seen in the past that EVs can succeed off-road. Turning the Evoque into an EV would give more people more of a reason to gravitate to it, instead of just loving the Range Rover badge. The Q60 is a very important car for Infiniti. The old G37 was a very popular car, but the 3.7-liter VQ V6 was getting a bit long in the tooth. Enter the new Q60 with its available 400 hp twin-turbo V6. We thought that this new engine would be what Infiniti needed to get back in the spotlight. However, it turns out that this new engine doesn't have a whole lot of character and neither does the Q60. We think that Infiniti needs to do something different in order to stand out. There is currently no sporty, affordable EV coupe on the market today. If Infiniti could turn the Q60 into a fast EV coupe, it could have a huge market advantage over cars like the BMW 4 Series, Mercedes C-Class coupe and Audi A5.
Source: 5 Cars That Would Be Better As Fully Electric Models

How electric cars can create the biggest disruption since iPhone

London - It's 10 years since Apple unleashed a surge of innovation that upended the mobile phone industry. Electric cars, with a little help from ride-hailing and self-driving technology, could be about to pull the same trick on Big Oil.

The rise of Tesla Inc. and its rivals could be turbo charged by complementary services from Uber and Alphabet's Waymo unit, just as the iPhone rode the app economy and fast mobile internet to decimate mobile phone giants like Nokia Oyj.

The culmination of these technologies - autonomous electric cars available on demand - could transform how people travel and confound predictions that battery-powered vehicles will have a limited impact on oil demand in the coming decades.

"Electric cars on their own may not add up to much," David Eyton, head of technology at London-based oil giant BP, said in an interview. "But when you add in car sharing, ride pooling, the numbers can get significantly greater."

Most forecasters see the shift away from oil in transport as an incremental process guided by slow improvements in the cost and capacity of batteries and progressive tightening of emissions standards. But big economic shifts are rarely that straightforward, said Tim Harford, the economist behind a book and BBC radio series on historic innovations that disrupted the economy.

Systemic change

"These things are a lot more complicated," he said. Rather than electric motors gradually replacing internal combustion engines within the existing model, there's probably going to be "some degree of systemic change." 

That's what happened ten years ago. The iPhone didn't just offer people a new way to make phone calls; it created an entirely new economy for multibillion-dollar companies like Angry Birds maker Rovio Entertainment Oy or WhatsApp.

The fundamental nature of the mobile phone business changed and incumbents like Nokia and BlackBerry Ltd. were replaced by Apple and makers of Android handsets like Samsung.

Today, as Elon Musk's Tesla and established automakers like General Motors are striving to make their electric cars desirable consumer products, companies like Uber and Lyft are turning transport into an on-demand service and Waymo is testing fully autonomous vehicles on the streets of California and Arizona.

Combine all three, for example through an Alphabet investment in Lyft, and you have a new model of transport as a service that would be a cheap compelling alternative to traditional car ownership, according to RethinkX, a think tank that analyses technology-driven disruption.

One key advantage of electric cars is the lack of mechanical complexity, which makes them more suitable for the heavy use allowed by driverless technology, Francesco Starace, chief executive officer of Enel, Italy's largest utility, said in an interview.

After disassembling General Motors's Chevrolet Bolt, UBS concluded it required almost no maintenance, with the electric motor having just three moving parts compared with 133 in a four-cylinder internal combustion engine.

"Competitiveness very much depends on the utilization of the car," Laszlo Varro, chief economist at the International Energy Agency, said in an interview.

The average Uber vehicle covers a third more distance than the typical middle-class family car in Europe, amplifying the benefit of lower running costs to the point that "the oil price at which it makes sense to switch to electric is $30 per barrel lower," he said.

Uber on steroids

The total cost of ownership of electric and oil-fueled vehicles will reach parity in 2020 for shared-mobility fleets, five years earlier than for individually-owned vehicles, according to Bloomberg New Energy Finance.

Already in London, Uber plans for its UberX service to be hybrid or fully electric by the end of 2019. Its rival Lyft aims to provide at least 1 billion rides a year in autonomous electric vehicles by 2025, saying they can be used much more efficiently than gasoline-powered cars.

This combination would be "the Uber model on steroids," Steven Martin, chief digital officer and vice president of General Electric's Energy Connections unit, said in an interview. "Once you have complete autonomous operation of a vehicle, then my desire to own one is going to go down and I'll be more willing to sign up to a subscription service." 

Autonomous hurdles

The transition to fully autonomous fleets may not match the speed of the smartphone revolution because of the many regulatory, legal, ethical and behavioral hurdles. Self-driving technology should become available in the 2020s, but won't be widely adopted until 2030, BNEF says.

Even so, the shift to electric cars could displace about 8 million barrels a day of oil demand by 2040, more than the 7 million barrels a day Saudi Arabia exports today, the London-based researcher says. That could have a significant impact on oil prices - a drop of 1.7 million barrels a day in global consumption during the 2008-2009 financial crisis caused prices to slump from $146 a barrel to $36.

That doesn't mean oil giants like BP or Exxon Mobil are heading for an inevitable Nokia-style downfall. While transport fuels account for the majority of their sales, they also have huge businesses turning crude into chemicals used for everything from plastics to fertiliser. They also pump large volumes of natural gas and generate renewable energy, both of which could benefit from increased electricity demand.

Even if electric vehicles do grow as rapidly as BNEF forecasts, the world currently consumes 95 million barrels a day and other sources of demand will keep growing, said Spencer Dale, BP's chief economist.

The London-based energy giant expects battery-powered cars to reduce oil demand by just 1 million barrels a day by 2035, while also acknowledging the potential for a much larger impact if the industry has an iPhone moment.

The sheer breadth of the potential disruption makes it hard to predict what will happen. When Steve Jobs unveiled the iPhone, few people anticipated that it meant trouble for makers of everything from cameras to chewing gum.

"The smartphone and its apps made new business models possible," said Tony Seba, a Stanford University economist and one of the founders of RethinkX. "The mix of sharing, electric and driverless cars could disrupt everything from parking to insurance, oil demand and retail."

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Source: How electric cars can create the biggest disruption since iPhone

City plans to ramp up number of electric car charging ports

It pays to go green as the city announces a $10 million investment to encourage more of it on the road.

City Hall says it plans to ramp up the number of electric car charging ports around the five boroughs, with up to 20 chargers at each station.

The mayor's goal is for 20 percent of registered vehicles in the city to go electric by 2025.

The city is partnering with Con Edison to find at least one good charging site in every borough.

It's estimated these five hubs would be able to service more than 12,000 cars a week.

Con Ed is also partnering with the Transportation and Police departments on a pilot program to reserve street parking for electric cars.

The cars would also be able to charge up at these spots.

There are currently more than 300 charging sites around the city.

Source: City plans to ramp up number of electric car charging ports

3 Lithium Stocks to Profit From the Tesla-Led Electric-Car Revolution

Lithium stocks, particularly lithium mining stocks, have been white-hot since 2016. The Tesla-led electric car revolution is driving demand for the silvery-white metal to make lithium-ion batteries that power electric vehicles.

Tesla's first mass-market vehicle, the Model 3, began shipping in July, and promises to significantly rev up lithium demand. Moreover, the Chinese EV market is particularly booming, and all the world's major automakers are in the early stages of launching EVs.

So what are the best lithium stocks to profit from the EV revolution?

Lithium mining stocks

Here are lithium mining stocks with market caps over $300 million that trade on a U.S. stock exchange.

Company

Market Cap

Dividend Yield

 1-Year Return

 6-Year Return*

5-Year Projected Avg. Annual EPS Growth Rate

Forward P/E

Sociedad Quimica y Minera de Chile, or SQM (NYSE: SQM)

 $16.3 billion  1.32%  152%  20.2%

 32.5%  

 35.2

Albemarle Corporation (NYSE: ALB)

 $14.9 billion  1.01%  77.2%  223%  15%   26.9 

FMC Corp. (NYSE: FMC)

 $12.4 billion  0.74%  95%  156%   16.6%  18.1 Galaxy Resources* 

 $838 million

 N/A  59.3%  (37.7%)  N/A   N/A  Orocobre* 

 $719 million

 N/A  18.6%  144%  N/A  N/A  Lithium Americas* 

 $592 million 

 N/A  84.1%   176%   N/A N/A  Nemaska Lithium* 

 $446 million

 N/A  9.3%  205%  N/A   N/A 

S&P 500

 N/A  1.91%  19.6%  137%  N/A  N/A

Data sources: Y!Finance and YCharts. Data to Sept. 19, 2017. Boldfaced returns have beaten the S&P 500. *Trade over the counter in the U.S. Galaxy and Orocobre are based in Australia, and Lithium Americas and Nemaska are Canadian companies. May be other lithium stocks trading OTC that meet market cap criteria. **Max full-year charting period available that includes all stocks. 

Best 3 lithium stocks for most individual investors 

Albemarle, SQM, and FMC are by far the largest lithium players that are traded on a major U.S. stock exchange, though none are pure plays. So they are the best stocks for most individual investors wanting exposure to lithium. 

There are a handful of small junior miners and numerous tiny players. They are more speculative, to varying degrees, and most are unprofitable. It takes a massive amount of money, not to mention a long time, for junior miners to go from exploration to profitable production -- and the vast majority of them won't make that transition. Only investors with a high risk tolerance should consider investing in a junior miner.

Image source: Getty Images.

The best lithium stock: Albemarle, the world's largest lithium producer

Albemarle has leading market positions in lithium, bromine, and refining catalysts. Global lithium market share estimates vary quite widely by source, but it seems safe to say that North Carolina-based Albemarle is the world's largest lithium producer with Chile's SQM a close runner-up. 

The best market share estimates, in my opinion, come from lithium expert Joe Lowry, who runs Global Lithium LLC: Albemarle, 22%, SQM, 21%, China's Jiangxi Ganfeng, 12%, FMC, 10%, China's Sichuan Tianqi, 10%; and other, 25%. While the numbers have surely changed a bit over the past couple of years, the two key things to remember are Albemarle and SQM are the "Big Two" and the Chinese have been gaining share. 

Albemarle has three independent sources of lithium: 

Salar de Atacama, Chile. (A "salar" is an underground salt lake.) 

Silver Peak, Nev. (Lithium source is also brine.)  

Talison Lithium joint venture with Tianqi in Western Australia. (Lithium source is hard rock, or spodumene.)

Albemarle remains the best lithium stock for most investors for two main reasons, in my opinion. First, it's based in the U.S., so it doesn't have SQM's higher risk level stemming from being headquartered in an emerging market. Second, it's closer than FMC Corp. to a pure play on lithium, as per the following chart.  

 Company        First-Half 2017 Lithium Revenue As a % of Total Revenue           First-Half 2017 Lithium Profit* As a % of Total Profit          Albemarle  31.5% 58.1% (of total segment adjusted EBITDA**) SQM 29% 61% (of total gross profit) FMC Corp. 11.1% 20.4% (of total segment operating profit)

Numbers calculated by author using companies' Q2 earnings reports. *The companies use varying profit metrics for segment results. **EBITDA = earnings before interest, taxes, depreciation, and amortization.

In its most recent quarter, Q2 2017, Albemarle's lithium revenue jumped 55% to $243.8 million, accounting for 33% of its total revenue. The lithium segment's EBITDA soared 80% to $115.2 million, accounting for 60% of the company's total EBITDA from its operating units. Profitability growth has been increasing faster than revenue growth because lithium demand has been outpacing supply, driving up prices. So the segment's results have been benefiting from the dynamic duo of higher sales volumes and higher prices. Similar dynamics have been playing out with SQM and FMC. 

Albemarle has been expanding production to help keep up with rising lithium demand: 

In early 2017, it announced that it received approval from the Chilean authorities to extract enough lithium to increase its annual Chilean battery-grade lithium carbonate production from 70,000 metric tons (MT) to 90,000 MT over the next four years. This modest increase came on the heels of a huge increase, as in early 2016, it received approval to hike this number from 24,000 MT to 70,000 MT. 

In March 2017, it announced an expansion at its joint venture in Greenbushes that will more than double that operation's lithium carbonate equivalent (LCE) production capacity from 80,000 MT per year to more than 160,000 MT per year. Albemarle has a 50% interest in what's produced at this JV. This expansion is slated to begin in Q2 of 2019.

Albemarle could also have a potentially very promising new lithium source coming on line in the future. In the fall of 2016, it announced an agreement with Bolland Minera S.A. for the exclusive exploration-and-acquisition rights to a lithium resource in Antofalla, within the Catamarca Province of Argentina. Albemarle said at the time that it believed this resource would be certified as the largest lithium resource in Argentina.

Wall Street analysts expect Albemarle's earnings per share (EPS) to increase at an average annual rate of 15% over the next five years. That's lower than the 32.5% forecast for SQM but higher than the 13.7% estimate for FMC. It's highly likely that Albemarle will exceed this expectation, in my opinion. The company routinely beats analysts estimates, and analysts keep moving their estimates up. 

Lithium salt flats. Image source: Getty Images.

SQM: A lithium stock for investors comfortable with higher risk

Sociedad Quimica y Minera de Chile, or SQM, has five business segments: lithium and derivatives, specialty plant nutrition, iodine and derivatives, industrial chemicals, and potassium. Its lithium source is nearby Albemarle's Chilean lithium source at the Atacama Salt Desert. Like Albemarle, Chile-based SQM extracts lithium chloride (and other minerals) from underground brine. It then produces lithium carbonate, lithium hydroxide, and other downstream products at its plants at this location. 

Positively, SQM -- which is also expanding lithium production -- has had a strong free cash flow (FCF) over the last year, which is significantly more than its reported net income. That said, only investors with higher risk tolerances should consider diving in, as SQM has risks associated with emerging markets -- including political and currency risks. Indeed, SQM was mired in financial and political scandal as recently as 2015, which led to the firing of its CEO, and the forced resignation of its former chairman, a former son-in-law of late dictator Augusto Pinochet.

SQM's total return has surged 89% from July 1 through Sept. 19. Lithium stocks in general have had a strong run over this period. However, we can attribute the bulk of this outperformance to reports in July that a Chinese company is interested in buying a significant stake in SQM. Jumping in based solely on market chatter -- especially late in the game -- can be risky because if the speculation doesn't come to fruition, a stock can sink as quickly as it ran up. 

FMC: Some positives, but lithium business is relatively small 

FMC has three segments -- lithium, agricultural solutions, and health and nutrition -- but it will soon be transferring the latter business to DuPont. The Philadelphia-based company has some distinct positives, but its lithium business accounts for a much smaller percentage of its total revenue and profits -- 11% and 20%, respectively -- relative to Albemarle and SQM. So investors wanting a significant exposure to lithium should probably take a pass. 

Image source: Getty Images.

That said, FMC is also expanding its lithium production capacity to help meet strong demand for battery-grade lithium hydroxide. In May, it announced a three-phase expansion plan to triple its annual production capacity of lithium hydroxide to at least 30,000 MT by 2019. The first part of the three-phase expansion started coming on line in the second quarter.

FMC claims that it's the most vertically integrated company in the lithium industry. It owns its lithium source, the Salar del Hombre Muerto in Argentina, and processing and production facilities, where the lithium carbonate that is produced from lithium chloride is further refined into such products as lithium metals and lithium hydroxide, bromide, and hypochloride. Neither Albemarle nor SQM own their Chilean lithium sources. 

Earlier this year, the market cheered when FMC announced that it was acquiring the portion of DuPont's crop protection business that the European Commission ruled it must divest in order to merge with Dow Chemical. In exchange, DuPont will get FMC's health and nutrition business and $1.2 billion in cash. FMC recently said that it continues to expect these transactions will close on Nov. 1.

Wrapping it up

Lithium stocks have run up considerably since early 2016. So there could be pullbacks over the near and intermediate terms. However, select higher-quality lithium stocks have good long-term growth potential, in my opinion. That's because I continue to believe EV sales will grow faster than most market-watchers project. 

Keep in mind that none of the three big players highlighted are pure plays on lithium, so their financial results and stock prices will also be affected by how well their other businesses are performing.

10 stocks we like better than Albemarle

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Beth McKenna has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Source: 3 Lithium Stocks to Profit From the Tesla-Led Electric-Car Revolution

PG&E Partners with Valley CAN and IBEW to Connect Underserved Communities with Electric Vehicles

SAN FRANCISCO--(BUSINESS WIRE)--Pacific Gas and Electric Company today announced a new pilot program in partnership with Valley Clean Air Now (Valley CAN) and the International Brotherhood of Electrical Workers (IBEW) Local 684 and 100 to provide free electrical panel upgrades to encourage electric vehicle (EV) ownership in low-income, underserved communities.

The PG&E Corporation Foundation will provide $75,000 in shareholder funds to cover the cost of upgrading home service panels—a commonly cited obstacle to EV adoption. IBEW Local 684 and 100 members will perform the site surveys, planning and panel installation for customers who qualify for the program.

Valley CAN, a nonprofit organization committed to improving air quality in California's San Joaquin Valley, already provides up to $9,500 for local low-income homeowners to trade in their older vehicles for a used plug-in EV. Doing so is part of their ongoing participation in the California Air Resources Board's Enhanced Fleet Modernization Program Plus-Up program, an initiative funded with revenue from California's Cap-and-Trade program.

"Electric vehicles—and the home electrical panel upgrades that may be needed to charge them—are often beyond the reach of individuals and families living in disadvantaged communities. PG&E is partnering to overcome these financial barriers so that all of our customers can afford clean energy options. This pilot with Valley CAN and the IBEW Local 684 and 100 will help us better understand how we can assist Central Valley residents," said Melissa Lavinson, PG&E's chief sustainability officer and vice president of federal affairs and policy.

"PG&E is reducing barriers to zero-emission transportation in disadvantaged communities by giving low-income customers free home infrastructure improvements they need to install electric vehicle chargers. PG&E is making a real difference with this pilot," said Tom Knox, executive director, Valley CAN.

To support job creation and capacity building, the IBEW will encourage participating local contractors to complete certification in the Electric Vehicle Infrastructure Training Program to increase the pool of trained and qualified EV equipment installers in the San Joaquin Valley, and IBEW members will then complete the panel upgrades for program participants.

"This is an innovative approach to creating clean-energy options for disadvantaged communities, while also using organized labor to provide training, quality control and good paying jobs," said Bobby Stutzman, Business Manager for the IBEW Local 684.

Additionally, all car owners in the pilot program will immediately be eligible for PG&E's Clean Fuel Rebate, which provides customers with a $500 one-time rebate for their use of electricity as a clean transportation fuel.

PG&E's Commitment to EVs

PG&E's announcement is part of the company's commitment as a founding member of EV100, a new initiative launched today by The Climate Group at Climate Week NYC to encourage business commitments to electric transportation across the globe. Joining EV100 reinforces PG&E's ongoing work to make EV ownership both easy and affordable for our customers, further electrify our own vehicle fleet as options become available and expand access to EV charging for both employees and customers.

For example, through our EV Charge Network program, PG&E will build up to 7,500 EV charging stations at multi-unit dwellings and workplaces across Northern and Central California, with a minimum of 15 percent of the chargers located in disadvantaged communities. Additionally, PG&E has installed about 500 charging units for employees at our facilities to date.

PG&E also offers resources to help customers driving EVs learn more and determine which rate makes sense for them. On PG&E's residential EV rate plans, customers pay the equivalent of $1.20 per gallon to charge their vehicle overnight.

PG&E also operates one of the cleanest transportation fleets in the energy industry, with nearly 1,600 vehicles that are electric-based―ranging from passenger vehicles to pioneering hybrid-electric bucket trucks that reduce idling at the job site and reduce fuel use, emissions and vehicle noise.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 20,000 employees, the company delivers some of the nation's cleanest energy to nearly 16 million people in Northern and Central California. For more information, visit www.pge.com/ and www.pge.com/en/about/newsroom/index.page.

Source: PG&E Partners with Valley CAN and IBEW to Connect Underserved Communities with Electric Vehicles

Colorado’s $68.7 million from VW emissions-cheating settlement will replace older vehicles, fund electric charging stations

Colorado already shared how it plans to slice up the $68.7 million it's getting in the Volkswagen emissions scandal settlement. On Monday, the public had its say.

"My ask is that you devote a majority of this magical funding to electrifying our vehicles, as many as possible, (and) to provide charging so that as a society, we can adopt electric transportation and make this normal and not something that just tree huggers do," said Rachelle Dillon, a native Denverite, who recalled the era when people burned garbage in backyard incinerators and threw trash out the car window. "…And my hope is that exhaust coming out of the tailpipe will be just as rude as me tossing a bag of trash out the car window."

[ Click here to read Colorado's proposal on the VW settlement ]

The funding, part of the $2.9 billion Volkswagen set aside for violating the federal Clean Air Act, stems from several fines levied against the German automaker after it was discovered cheating emissions tests so its cars would test much cleaner than they actually drove. The company also set aside $10 billion to buy back cars from VW owners to get the emission-violating vehicles off the road.

But Colorado's share can't be used for just anything, said Chris Colclasure, deputy director of the Colorado Department of Public Health and Environment, the agency handling the funds.

"The purpose of the trust is to reduce emissions, nitrogen oxide emissions, from areas that were disproportionately impacted," said Colclasure, showing a map of black splotches in the Denver area to indicate where most vehicles operated. "Because Volkswagen cheated on their emissions test, we have some additional ozone that we would not otherwise have."

The funds can be used to replace older vehicles with new, alternative fuel ones. The state's plan, which has been public for three weeks, aims for spending on these areas:

$18 million — Help public and private fleets replace heavy- and medium-duty trucks (including shuttle buses and school buses) with new alternative-fuel vehicles. Private owners can get 25 percent of a new vehicle's cost, while public fleets qualify for 40 percent. Up to 400 to 450 vehicles are expected to be replaced.

$18 million — Replace diesel-reliant transit buses. Expects to fund 36 electric buses plus charging infrastructure.

$10.3 million — Pay for zero-emission vehicle equipment, primarily electric vehicle charging stations.

$12.2 million — Flexible funds to be determined.

$5 million — As part of the Diesel Emissions Reduction Act, funds would focus on replacing diesel engines that aren't limited to cars, but projects that use diesel engines, such as those used to drill oil and natural gas.

$5 million — For marketing, accounting and other administrative tasks.

Public comment on Monday was mostly in favor of the state's proposal, with several officials from alternative fuels industries like natural gas, biofuels and propane making a claim for attention. Public comment continues through Oct. 13, after which the state plans to make its claim by early 2018. The state hopes to receive the funding in 2018. For details on commenting, see the notice at dpo.st/vwfunds.

Source: Colorado's $68.7 million from VW emissions-cheating settlement will replace older vehicles, fund electric charging stations

The electric vehicle revolution is 'a huge opportunity' for this robotics giant

ABB, a major player in the realm of robotics, automation and power generation, is fiercely committed to the global shift to electric vehicle transportation.

The transformation from traditional cars to electric ones is "a huge opportunity" that will enable ABB to "work with smart cities of the future," Chairman Peter Voser told CNBC on the sidelines of the Singapore Summit over the weekend.

ABB currently helps design, build and maintain infrastructure for electric cars. Earlier this year, it launched a new product in Malaysia that reduced charging time for EV vehicles to 15 minutes.

More still needs to be done to improve the EV landscape in consumer transportation, such as cars and buses, Voser warned. In particular, "we need vast investment for charging stations," he said.

The Swiss-based multinational supplies power through high-voltage direct current technology into cities and consumers, Voser explained. "On the other side, we're also working with car manufacturers because quite clearly, they need our robots, our automation capabilities so that they can switch from one model to the next."

Brent Gunts

CNBC's Nancy Hungerford sits inside the Volkswagen I.D., a dedicated electric car

Previously chief of Shell, Voser said he believes the future of transportation over the next 40 to 60 years will be dominated by a mixture of self-driving vehicles, combustion engines and electric cars.

That should be an opportunity, not a worry, for energy players, he said.

While major companies like Shell still remain active in gas, "business models will evolve," Voser said. Big energy firms are comfortable with technological developments, "and I think they will transform themselves as well."

There are also enough incentives by regulators to increase corporate levels of energy efficiency, he added.

Source: The electric vehicle revolution is 'a huge opportunity' for this robotics giant

Electric vehicles on display at show in downtown Aiken

Donald Griggs drives an electric car because he believes it helps reduce air pollution, but that's not the only reason why he's a fan of the 2017 Nissan Leaf that he leases.

When Griggs is behind the Leaf's wheel, "it's fun," he said. "I'm not a drag racer, but if you want to be the first one to take off at the stoplight, you can be. You just put your foot on the accelerator and then, zoom; you're on your way. It has a lot of pickup."

Griggs, who lives in Columbia, brought his Leaf to Cafe Scientifique's second annual Aiken Electric Vehicle Show on Saturday next to the Aiken Railroad Depot on Park Avenue.

When attendees stopped to look at his car, Griggs answered their questions enthusiastically.

"Nissan is very generous," he said. "As part of the lease, they will tow you for free, even if the reason you need towing is because you were dumb and let the charge run out."

Dr. Craig Powell, a chemistry professor at Presbyterian College in Clinton, has been driving electric cars since 2014. First, he leased a Nissan Leaf. Now, he has a BMW i3.

"It was kind of an experiment to see if living an electric life was feasible, and the Nissan Leaf showed me it was possible to do it," Powell said. "Electric cars are fast, and there is no gear shifting. There is one gear, and they just go. They're also quiet. I like not being tied so much to oil interests.

"For long trips," Powell added, "I do have a secondary car that uses gas. But since I only live four or five miles from work, the electric car works great around town."

In addition to automobiles, there were bicycles at the Electric Vehicle Show.

Dr. Holly Wolz, chief of staff at Veterinary Services of Aiken, owned one of the two wheelers, a white Pedego City Commuter.

Her husband, Ed, also has an electric bicycle. He is the Republican candidate in the race for the Aiken City Council seat in District 6 and will face Democrat JoAnn Hooper in the Nov. 7 general election.

"I've ridden many, many miles on bicycles; I do it for fitness," Holly said. "But you get older, and around here in Aiken, there are some big hills. The electric bicycle lets you go lots of places easily. You can ride it using your woman power or you can click the motor into gear and really get going."

Sam Erb took a ride on Holly's bike and enjoyed it.

"It was really cool," he said. "I liked how smoothly it ran."

Elise Fox attended the Electric Vehicle Show with her 9-year-old twins – Colin and Hannah – and her husband, Kevin.

The kids were all smiles when they had the opportunity to sit on an electric motorcycle owned by Tim Haas of North Augusta and pose for photographs.

"We've been looking at getting an EV (electric vehicle), and we're here investigating the different ones," Elise said. "We like them because they have cleaner engines because they're not petroleum-burning. We also like the idea of a full electric vehicle better than a hybrid."

Elise was impressed with the Leaf.

"It's much roomier than I thought it would be, and the prices are pretty reasonable as well," she said.

Kevin liked the Leaf as well, and he also was interested in a Tesla Model S that he saw.

"I'm glad they have this event; it's really nice," Elise said. "It's wonderful to be able to see all these different types of vehicles in one place. I didn't even know that electric motorcycles existed."

Todd Lista is the president of Cafe Scientifique, which is based in the former Aiken Post Office on Laurens Street and has the goal of making science accessible to the general public.

"When you hear about electric vehicles worldwide, you think, 'Oh, not in Aiken,' " Lista said. "But Aiken seems to be a progressive little town. This the second year for the show, and we've got a good turnout, so there is interest here in these vehicles."

Cafe Scientific held the Electric Vehicle Show in conjunction with National Drive Electric Week, which ends Sunday.

For more information about Cafe Scientifique, visit http://cafescientifiqueaiken.net/.

​Dede Biles is a general assignment reporter for the Aiken Standard and has been with the newspaper since January 2013. A native of Concord, N.C, she graduated from the University of North Carolina at Chapel Hill.

Source: Electric vehicles on display at show in downtown Aiken

A Dyson electric car? 'Wait and see'

Dyson vacuums are an effective, if pricey, way to clean your car.

But can they propel them, too?

A few years back, company founder Sir James Dyson suggested his electric motors could, but didn't say that that company was actually working on one. He still hasn't confirmed that it is, but evidence is mounting.

The latest, according to The Sunday Times Driving, is that Dyson has recently hired automotive engineers from Aston Martin and Tesla. Discussing the topic of a Dyson car on a BBC radio program this week, Dyson cryptically answered "who knows, who knows," and said people will have to wait and see.

A company spokesperson wouldn't offer any further comment, but National Infrastructure Delivery Plan documents revealed earlier this year suggested that the British government was funding electric car development at Dyson.

Dyson is known to have purchased battery outfit Satki3 in 2015, but the solid-state lithium-ion cells its working on could be used in a variety of applications, vacuums included.

Source: A Dyson electric car? 'Wait and see'

Honda Is Finally Getting Serious About Electric Cars

Investors have been wondering when Honda (NYSE: HMC) would get with the electric-car program, and now there's an answer. At the International Motor Show in Frankfurt, Honda's CEO unveiled a show car called the Urban EV Concept -- and said it previews a new electric Honda that will debut in 2019.

About the Honda Urban EV Concept

"This is not some vision of the distant future," Honda CEO Takahiro Hachigo said, with the grandiose promises of some rivals clearly in mind. "A production version of this car will be here in Europe in 2019."

Honda CEO Takahiro Hachigo with the Urban EV Concept, a preview of a new electric car that Honda will launch in 2019. Image source: Honda Motor Co., Ltd.

Honda didn't give much in the way of details that electric-car fans will want most. We don't yet know the size of its battery, its expected range, whether it has more than one motor, or what it will cost. It's possible that Honda hasn't yet decided on the production version's capabilities, or that it plans to offer different configurations in different markets around the world (or both).

But we do know that the Urban EV Concept is built on a completely new platform, one that Honda has created specifically to underpin a new series of electric vehicles. 

We also know that while it's not quite as tiny as the vintage Honda Civics that its styling recalls, it's pretty small by modern standards. Honda said that the Concept is 100 millimeters shorter than its Jazz subcompact. (The Jazz is the European version of the Honda Fit. Like the Fit, the Jazz is small. But the Urban EV Concept is smaller.) 

Inside, the Urban EV Concept has more room than you might think from its exterior dimensions. There are two bench seats, with enough room to seat four adults. It's similar to the interior configuration chosen by General Motors (NYSE: GM) for its Chevrolet Bolt EV, another vehicle that has more room inside that its exterior dimensions suggest. That's no surprise given that the Honda has a similar configuration and a similar mission: Like the Bolt, the Honda is intended as a small urban runabout that's easy to park and maneuver.

The interior of the Honda Urban EV Concept is show-car fancy. The production version's dash will probably look more conventional. Image source: Honda Motor Co., Ltd.

Why it's important: Honda is taking a bigger step into electric vehicles

Until now, Honda's electric-vehicle efforts haven't been all that impressive. In fact, they've been downright disappointing to longtime Honda fans: The company's sole battery-electric offering in the U.S. is a version of its Clarity sedan that offers just 89 miles of range. That's not nearly enough to make it competitive with vehicles like the Bolt and Tesla's (NASDAQ: TSLA) Model 3, a surprise given Honda's long and much-admired history of innovation. It hasn't helped that Honda's self-driving efforts also appear to be running behind those of rivals. 

The Urban EV Concept is a tangible sign that Honda is stepping up its electric-vehicle game at last. Honda has said that its goal is to have "electrified vehicles" (meaning pure electrics and hybrids) make up two-thirds of its global automobile sales by 2030. (It hopes to hit that goal in the European market by 2025.) This concept car, and the stated production plans, show that Honda is now serious about building competitive electric vehicles. 

Will the production version of Honda's Urban EV Concept come to the U.S.?

That's not clear yet. So far, Honda has said only that it will be sold in Europe starting in 2019. But Honda's business plan, summarized by Hachigo in a presentation earlier this year, suggests that its new EV will be sold in many parts of the world.

Long story short: It's not confirmed yet, but Honda will probably offer it in the U.S. I suspect we'll hear more details at the Los Angeles International Auto Show in November.

Will it sell?

That will depend to some extent on the details, specifically its range and price. But I think while the car's retro-futuristic styling theme is obviously exaggerated in a show-car way, the basic theme Honda chose for the car is pitch-perfect -- a futuristic take on its fondly remembered early cars from the 1970s. It has the potential to do quite well. 

What does it mean for investors?

The takeaway here is simple: Don't count Honda out of the electric-car race. Although it seems a little late to the game, that probably won't matter much in the long run. Expect Honda's electric vehicles to be technologically competitive, packaged in ways that longtime Honda fans and casual buyers alike will find compelling, and priced to sell. 

10 stocks we like better than Honda

When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and Honda wasn't one of them! That's right -- they think these 10 stocks are even better buys.

*Stock Advisor returns as of September 5, 2017

Source: Honda Is Finally Getting Serious About Electric Cars

Will Mercedes-Benz Build This Little Electric Car?

Electric vehicles are the hot topic at this week's International Motor Show in Frankfurt, Germany, thanks in part to the challenge posed to the German luxury-car giants by upstart Tesla (NASDAQ: TSLA). 

German giant Daimler AG (NASDAQOTH: DDAIF), the corporate parent of luxury-car maker Mercedes-Benz, showed off what could be an important future entry: an electric Mercedes-Benz small car.

Daimler executives didn't say for sure that the Concept EQA, as it's called, would go into production. But based on what we know about Mercedes' plans for a line of electric vehicles, it's a good bet that something like it will come to market in a few years. Here's what we know.

The Mercedes-Benz Concept EQA is a small dual-motor electric car that previews a possible future model. Image source: Daimler AG.

Mercedes' Concept EQA: An upscale small electric car

The Concept EQA is a small-but-premium electric hatchback. It's a dual-motor, all-wheel-drive battery-electric vehicle with a range of "around 400 kilometers" (248 miles), according to Mercedes-Benz.

Although Mercedes didn't announce plans for a production version, it's likely that the EQA foreshadows an "entry-level" model for Mercedes' forthcoming all-electric EQ sub-brand. The idea of an "entry-level" Mercedes-Benz might sound strange, but small-but-plush vehicles have become very important to the brand in recent years.

Here's how Mercedes' China chief, Hubertus Troska, explained it:

The Concept EQA shows how much fascination can fit into a compact car. It provides an example of how electric mobility might look like for our compact cars, because they are an important driver of our success. Around the world, many new customers have come to Mercedes-Benz through this vehicle segment. In Europe, the A-Class [a small hatchback] has a conquest rate of around 70 percent. In the USA, more than half of CLA [Mercedes' least-expensive sedan] owners are driving a Mercedes for the first time. And China is our biggest market for the GLA [a small SUV based on the CLA].

Long story short: Small cars are important for Mercedes-Benz because they bring new buyers to the brand. As Mercedes transitions to electric vehicles, a small electric model seems like a necessity. That's what the Concept EQA is previewing.

A possible second model for Mercedes' new EQ sub-brand

Daimler CEO Dieter Zetsche confirmed this week that Mercedes-Benz will offer electric versions of all of its models by 2022 and a new series of plug-in hybrids, for about 50 new "electrified" Mercedes-Benz models in total. In addition, Daimler's Smart small-car brand plans to eliminate internal-combustion models to become an all-electric brand. 

At least part of that electrification effort will center on Mercedes' new electric-car sub-brand, called EQ. Mercedes confirmed this week that the first EQ model will be a version of the electric midsize SUV that it showed in concept form a year ago, to be called EQC. That vehicle will debut in 2019, and several more EQ models are expected to follow. 

Mercedes confirmed that a production version of last year's Generation EQ Concept will go on sale in 2019. Image source: Daimler AG.

Mercedes' officials are very aware of the challenge posed by Tesla, of course. Unlike rivals BMW AG and Audi AG, which plan to take direct aim at the Silicon Valley contender, Mercedes seems to be aiming where Tesla isn't: The EQC could be calibrated to slot in between Tesla's Model X and its planned Model-3-based compact SUV, while the Concept EQA previews a car that would be smaller than anything Tesla has planned for the near future. 

How Daimler will fund the electrification effort

Daimler, which also owns several truck brands and is working on a series of electric trucks for commercial use, plans to fund this aggressive electrification push largely through cost savings. CFO Frank Lindenberg said that Daimler has targeted $4.8 billion in cost cuts that should offset much of the cost. 

Much, but not all: Daimler aims for a 10% operating profit margin, but Lindenberg acknowledged that a margin in the range of 8% to 10% was possible in the near term. 

Long story short: While it's likely that electric vehicles will be more profitable for Daimler than internal-combustion models in the long term, the costs of the transition to an electric product line could squeeze its margins for a while.

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Source: Will Mercedes-Benz Build This Little Electric Car?

Mini shows off its pure-electric concept car

With this and the recently-launched Mini Countryman hybrid, the BMW subsidiary is pitching to drivers who want to be a bit more green but, well, also really like driving cars with go-kart characteristics.

In classic Frankfurt Auto Show style, there's no word on the car's range, specs or how much it'll cost. What we do know is that it'll be available in 2019. When it is available, it'll be the second electrified car from Mini. The automaker (like nearly every other company building cars) is betting big on electrons.

"Our top priority is electric mobility." said BMW CEO Harald Krueger. At the Frankfurt show, he said that BMW is planning to have 25 electrified cars (12 of them fully electric) by the year 2025. One of the ways the automaker plans to do that is using a platform for each vehicle type that accepts a gas engine, hybrid or pure EV drivetrain. But while we wait for that to happen in 2020, the company has the iPerformance line, the i series and both hybrid and electric Minis to keep us moving around until then.

Source: Mini shows off its pure-electric concept car

China eyes petrol car ban, boosting electric vehicles

Shanghai (AFP) - China is gearing up to ban petrol and diesel cars, a move that would boost electric vehicles and shake up the world's biggest car market in a country that is plagued by pollution.

The plan would follow decisions by France and Britain to outlaw the sale of such cars and vans from 2040 to clamp down on harmful emissions.

The government did not give a date for the ban, but the announcement drove up the shares of automakers and lithium battery makers in Asia, with Chinese electric car leader BYD closing 4.07 percent up in Shenzhen and Toyota up 1.22 percent in Tokyo.

Xin Guobin, vice minister of industry and information technology, told a weekend forum in the northern city of Tianjin that his ministry has started "relevant research" and is working on a timetable for China.

"These measures will promote profound changes in the environment and give momentum to China's auto industry development," Xin said in remarks broadcast by CCTV state television.

"Enterprises should strive to improve the level of energy-saving for traditional cars, and vigorously develop new-energy vehicles according to assessment requirements," he said.

- Long road ahead -

While Xin did not give a deadline, the head of the National Passenger Car Association, a Chinese auto industry group, said it would be "a long process".

"It will be hard to stop producing traditional fuel-powered vehicles for the next decade or two decades," the association's secretary general, Cui Dongshu, told AFP.

"We may make significant headway in passenger cars in 2040 or even earlier, but for other products like the heavy-duty trucks it would be difficult."

Automakers "have not really tried hard in this sector" and consumers are not so familiar with new-energy vehicles, Cui said.

But Bill Russo, managing director of Gao Feng Advisory Group, said the move bodes well for Chinese automakers who are already able to compete with foreign car companies when it comes to making electric vehicles.

He added: "If China says no more ICE (internal combustion engines), the rest of the world will follow because the rest of the world can't lose China's market. It's too big."

China produced and sold more than 28 million vehicles last year, according to the International Organization of Motor Vehicle Manufacturers.

The sale of new-energy vehicles topped 500,000 in the world's second largest economy in 2016 -- over 50 percent more than the previous year, according to national industry figures. The majority were made by Chinese firms.

The government introduced draft regulations this June compelling automakers to produce more electrically-powered vehicles by 2020 through a complex quota system.

Xin said the policy would be implemented "in the near future", according to the official Xinhua news agency.

- Race for green cars -

As the measure looms, foreign automakers have announced plans to boost the production of electric cars in China.

Market leader Volkswagen sold a few hundred "green" cars among the four million vehicles it sold in China in 2016, but the German manufacturer plans to sell around 400,000 new-energy vehicles in the country by 2020 and 1.5 million by 2025.

Christoph Ludewig, VW's communications director in China, declined to comment on Xin's announcement, but he noted that the company has a joint venture with JAC that will produce such cars by next year.

"Our efforts are quite huge, so we want to contribute to and be on the forefront of the electrification of the Chinese automotive industry. That's clear," Ludewig told AFP.

He also said VW would "work hard" to comply with the NEV quota once China implements it next year.

Volvo will introduce its first 100-percent electric car in China in 2019.

Ford envisages that 70 percent of all Ford cars available in China will have electric options by 2025. It is establishing a joint venture with China's Zotye Automobile to make and sell all-electric vehicles.

"We are already aggressively pursuing an electrification strategy to provide a comprehensive range of electrified vehicles in the country by 2025, including hybrids, plug-in hybrids and fully battery-powered electric vehicles," said Anderson Chan, a Ford spokesman in China.

French carmaker Renault, which started producing cars in China last year, will roll out two new-energy vehicles in the country -- a sedan and small SUV -- in 2018 and 2019, said Florence de Golfiem, its communications vice president for China.

"We already have a very advanced technology," she told AFP.

Source: China eyes petrol car ban, boosting electric vehicles