Mercedes-Benz EQS caught in spy shots

Mercedes-Benz Generation EQ concept, 2016 Paris auto show

For decades, Mercedes-Benz sold only two passenger cars. Now, the automaker is promising 10 different electric cars.

Although the Mercedes has not revealed plans for all of them, spy photographers have recently captured a large electric sedan from Mercedes-Benz testing at Mercedes's headquarters in Sindelfingen, Germany. 

The spy pics were published by Motor Authority.

In line with Mercedes-Benz's naming convention and statements from company executives, observers expect the new sedan to be called the EQS, sitting parallel in Mercedes-Benz's lineup with its flagship S-Class.

Previous statements from Mercedes executives have hinted that the EQS will go on sale in 2020, likely as a 2021 model.

It is expected to ride on Mercedes's dedicated, modular electric-car architecture, dubbed MEA. At the same time, Mercedes is separately developing a new gas-fueled S-Class sedan that will ride on a separate rear-wheel-drive gas platform (MRA), and debut around the same time.

The EQ chassis sits a little higher than the basic S-Class to allow space for the large battery packs under the floor, but it has a much more steeply swept windshield and sleeker profile.

A high tail indicates it could be a hatchback, perhaps like the Tesla Model S, its target competition. It could, however, be just part of the prototype's camouflage.

Among the 10 electric models Mercedes has said it will deliver, the EQS represents the third passenger car, after the EQC small SUV and the EQA small coupe.

It has also revealed prototypes and specs of two commercial electric vans, and is expected to offer a small electric sedan the size of the C-class.

BEST PERFORMING ELECTRIC VEHICLE STOCKS

There are two ways to make money on a stock. You can buy it and hope it goes up. Then you can sell it and pocket the difference (after paying capital gains tax, of course). Or you can buy a stock that pays a dividend. Every quarter, the company will send you a check equivalent to the latest dividend per share multiplied by the number of shares you own.

For instance, let’s say you own 100 share of Ford Motor Company, whose most recent dividend for the 4th quarter of 2017. The company declared a dividend of $0.15 per share, so you will get a check in the mail for $15.00. Assuming you own Ford for the entire year and the dividend is the same every quarter, you will receive $60.00 during the year. Divide that by the amount you paid for the stock to determine your return on investment for the year.

According to TheStreet.com, “The automobile industry is going through incredible amounts of change as electric cars are encroaching upon the dominance of internal combustion engine powered ones and autonomous cars are set to hit the roads in just a few years. Experts believe that as much as 8% of all vehicles sold by 2020 will be electric and perhaps as many as 21 million autonomous cars by 2035.

As the pace of change — from Detroit to Silicon Valley and everywhere in between — rapidly increases, investors in the space can see outsized returns, provided they know where to look.

Several nations and many countries are proposing plans to prohibit the sale of conventional cars with internal combustion engines beginning in 2030. That just over a decade from now. Every year, nearly 100 million new cars are sold throughout the world.

If they are all going to be electric or plug-in hybrids in a few short years, the upheaval in the marketplace will be enormous. And that will create tremendous opportunities for savvy investors.

recommends three stocks it thinks will lead the parade: Tesla, Nvidia, and MobilEye. Everyone is familiar with the Tesla, the company that Elon Musk says will worth a trillion dollars in years to come. It is focused on making electric cars and trucks that have the ability to drive themselves once the software is perfected.

Nvidia and MobilEye provide the hardware that makes self driving cars possible. That includes sensors like cameras, Lidar, radar, and ultrasonic devices. They also make the computers that process all the data collected in real time to guide the cars safely down the road. Nvidia’s latest “supercomputer in a box” is so powerful, it actually has to be connected to the car’s cooling system to keep it from overheating.

For smart investors, CMC Markets offers a variety of sophisticated investment tools that permit them to do more than just buy a stock and hold it. For instance, there is spread betting, a tax-efficient way of speculating on the price movement of thousands of global financial instruments, including indices, shares, currency pairs, commodities and treasuries.

There are major changes coming to the automobile business both in the US and globally as companies transition to making plug-in hybrid and battery electric cars. Some old line companies may falter while new companies may appear. Change creates new opportunities for making money in the stock market.

Ten Global Companies Commit To 100% Electric Vehicles

A group of new big-name businesses including Baidu, IKEA, and Vattenfall have this week launched EV100, the first initiative of its kind to fast-track the uptake of electric vehicles and accompanying infrastructure.

Following in the wake of initiatives such as RE100 and EP100, the newest initiative to focus on helping businesses commit to 100% targets to help the environment (EV100) launched in partnership with The Climate Group this week at Climate Week NYC. The launch includes 10 founding members — Baidu, Deutsche Post DHL Group, Heathrow Airport, HP Inc., IKEA Group, LeasePlan, METRO AG, PG&E, Unilever, and Vattenfall. Where RE100 seeks to accelerate the adoption of 100% renewable energy targets, and EP100 aims to increase the number of companies doubling their energy productivity, EV100 is looking to bring together companies committed to accelerating the transition to electric vehicles (EVs).

Image via ecartestdrives

Members of EV100 will each commit to transitioning from diesel and petrol vehicles to electric vehicles, and installing battery charging infrastructure by 2030. The aim of EV100 further seeks to set out timetables for these transitions, which will help drive massive rollouts, reduce costs, and make electric cars more affordable more quickly for everyone around the world.

“We want to make electric transport the new normal,” explained Helen Clarkson, CEO, The Climate Group. “There are two fundamental problems to be addressed. Transport is still the fastest growing area of carbon emissions, as the shift to electric vehicles is not happening fast enough; and mass system change, even with Government intervention, needs much greater customer demand.

“EV100 will use companies’ collective global buying power and influence on employees and customers to build demand and cut costs. The members being announced today see the business logic in leading a faster transition and addressing local air quality issues in their markets. They are setting a competitive challenge to the auto industry to deliver more EVs, sooner and at lower cost.”

The news comes only a day after The Climate Group announced that its premiere campaign, RE100, had added 4 new companies, bringing the number of companies committed to 100% renewable energy targets up to 106. Among the companies signing up to transition their vehicle fleets to electric is Swedish power company and wind energy giant Vattenfall.

“Vattenfall delivers solutions for sustainable and climate smarter living for customers and citizens,” said Magnus Hall, Vattenfall’s president and CEO. “Climate change is one of our biggest challenges so we are very happy to join the EV100 initiative as electrical vehicles can make a significant contribution in reducing carbon emissions.”

Specifically, Vattenfall pledged in January of this year to replace all its passenger and light commercial vehicles in Sweden, the Netherlands, and Germany to electric alternatives.

“We will replace the whole 3500 car fleet to EV in the coming five years,” explained Hall. “With the decision we do not only contribute to reducing CO2-emissions in Europe, we also set an example for other companies. We work with our customers to deploy charging infrastructure and building northern Europe’s biggest connected charging network, InCharge.”

Mercedes Doubles Down On Electric Car Production

At the Paris auto show earlier this year, Mercedes announced the creation of its new EQ sub-brand for electric cars with a prototype of a 400 horsepower battery electric SUV. At the time, the company said the four pillars of its EQ division would be connected, autonomous, shared, and electric. This week, Thomas Weber, head of research and development for Daimler, announced the automotive group will invest up to $11 billion in electric vehicles. “By 2025 we want to develop 10 electric cars based on the same architecture. For this push we want to invest up to 10 billion euros.”

Matthias Lührs, vice president of sales and product management for Mercedes, says his company will introduce a plug-in hybrid version of every single vehicle in the Mercedes-Benz model range by 2020. “From next year onward, we’ll have 10 vehicles as such—the broadest model range of plug-in hybrids in the luxury market,” he said. “And we see huge customer demand in that respect.”

That may be so, but EV sales in many important markets — especially the US — are struggling to capture 1% of the new car market. Lührs believes the keys to success when it comes to selling electric cars are customer demand, infrastructure, and regulations. Mercedes, BMW, Volkswagen, Porsche, Audi, and Ford of Europe are joining forces to address the infrastructure component. Last week they announced a joint undertaking to build a network of high power chargers for electric cars throughout Europe. The system will be based on the CCS charging standard and may feature chargers with up to 150 kW of power. The CCS consortium, which Tesla is a member of, says chargers with power up to 350 kW are possible in the future.

Regulation is something car makers have less direct control over. Emissions rules in Europe are far tougher than in the US and set to ratchet up significantly in the near future. In the US, manufacturers are pressuring the incoming Trump administration to weaken fuel economy rules, but that will have no impact on EU regulators. Rules in China and other countries are also set to get tougher soon. The question no one can answer is, what would happen to demand for electric cars if all those environmental rules were revoked? Would the allure of self driving, connected cars be enough to keep the electric car revolution moving forward?

The latest buzzword in the auto industry is “ecosystem.” No, that has nothing to do with the melting of the polar ice caps or the bleaching of The Great Barrier Reef. It refers to an automotive environment in which the car is seamless connected to the owner, the internet, and digital world. It is now expected that everything will work in harmony — hardware and software, car and smartphone, driving and being driven, owning and sharing. “Connected vehicles, autonomous vehicles, shared services, we call it an ecosystem . . . we see interdependencies,” says Lührs.

“Imagine one day — let’s say, at the latest, in 2025 — there might be a new EQ S-class coming around the corner, and you’re calling it through your EQ app. The car will be picking you up, driving autonomously in the garage, and then picking up the next person. We’re talking about car sharing here — fewer cars on the road, a very friendly ecosystem, and very convenient. You don’t have to call Uber. You call your EQ.”

Tesla has disrupted the automotive world with its innovative electric car strategy, but Mercedes and most other manufacturers are spending as much time chasing Uber as they are Tesla. Everybody in the industry seems convinced we are all perishing to be part of futuristic car pools, where we share our automobiles with each other. The connected, self driving car will be an alternative to traditional public transportation. Instead of jamming ourselves into crowded subway trains twice a day, we will ride along in connected bliss with three or four other sweaty strangers with bad breath.

In the bright, glorious day to come, white supremacists will happily buddy up with Muslims and gays because the cars will be so cool, no one will be able to resist their charms. If that is what Mercedes and other companies are expecting, they may want to take a look at the most recent presidential election in the United States to see how bitterly divided by class, race, and religion the Cradle of Liberty is today. It is unlikely the “cool” factor will have much success breaking down those barriers.

None of that deters Mercedes. It plans to use its Car2Go car sharing service to learn what customers like and don’t like in their cars. That feedback will be incorporated into designing future models. “With the Car2Go brand, we have a very good field where we can test and see what customers are preferring, and then hopefully build on that, and that is part of the whole ecosystem of EQ,” Lührs says.

In all, Mercedes expects to roll out one new electric car every year, starting with the crossover SUV prototype on display in Paris. That car should be in showrooms in 2019, which means the transformation of Mercedes to an all electric car company should be complete by the end of the next decade. It is perhaps no coincidence that 2030 is a date being suggested by several European countries as the date when they intend to ban the sale of cars with combustion engines.

Source: Car and Driver

New IEA Report Says 1.26 Million Electric Cars Sold In 2015

The International Energy Agency reports that 1.26 million electric cars — both battery and plug-in hybrid — were sold worldwide in 2015. Is that a lot? It depends on how you look at the numbers and who is asking the questions. The IEA says there needs to be 100 million electric cars on the road by 2030 in order to keep average global temperatures from soaring past 2º Celsius. Is that possible?

Take a look at the chart above. The trend is certainly up. Keep in mind that there were only a few hundred electric cars on the road in 2008 and the current number is a lot higher than anyone would have expected back then. The number has tripled just since 2013. But there is still a long road ahead if we are going to get to 100 million EVs in the next 14 years.

By comparison, there are 1 billion vehicles on the road worldwide at present and that number is expected to increase dramatically in the next 20 years as demand in countries like India and China continues to soar. The good news is, the IEA says the odds of getting to 100 million EVs by 2030 are getting better, thanks to aggressive pro-electric car incentives being put in place by many countries around the world.

“Ambitious targets and policy support have lowered vehicle costs, extended vehicle range and reduced consumer barriers in a number of countries,” the report says. As a result, electric vehicles now make up more than 1% of sales in China, France, Denmark, and Sweden. They are almost 10% of sales in the Netherland and 23% in Norway.

Other important factors are a continuing decline in the cost of batteries for EVs and an increase in battery density. The IEA says batteries will need to cost less than $125 per kWh in order for electric cars to be price competitive with conventional cars. It thinks battery manufacturers will be able to get there by 2022, but Tesla may be at that point already and pushing hard to go even lower as it Gigafactory ramps up toward full production.

The IEA also points out that electric alternatives to internal combustion engines will be needed for two wheeled vehicles, heavy trucks, and buses in order to complete climate change targets. Many companies are working hard in those areas, particularly Wrightspeed when it comes to work trucks and Proterra for inner city buses.

Meanwhile, Gareth Dunsmore, head of Nissan’s European EV division, says he expects 20% of all new cars sold in Europe will be electric by 2020. Whether he thinks Nissan will be part of that trend is unclear. “Electric vehicles such as the Leaf and e-NV200 currently account for 6% of Nissan’s European sales,” Dunsmore told AutoBlog recently.  Unless Nissan introduces new models that are significantly  more appealing than the LEAF, it seems unlikey that its sales are going anywhere but down.

The LEAF is more appropriate for European needs, where average daily driving distances are shorter than they are in the US, but the car is now ancient in its technology and styling. The company has shown little interest in making the LEAF more desirable and will soon face major competition from more modern designs that sell for the same or less money.

The pace of electric car sales is increasing, but whether that continues depends on many factors. Countries like China and Norway are already talking about scaling back EV incentives, which cost governments billions every year. Low gasoline prices are also making the road forward harder for electric cars. Sales of EVs in the US market have been disappointing so far this year. Whether the world can get to 100 million electric cars by 2030 is anybody’s guess.

Source: Vox

EV Sales Rose Significantly Worldwide In 2015

According to EV Volumes, an EV sales database and consultancy now partnering with EV Obsessionand CleanTechnica, EV sales in 2015 surpassed half a million vehicles. That includes electric cars and plug-in hybrids. The actual total was just under 540,000 vehicles. True, that is still a small percentage of total vehicle sales, but the the trend is upward and accelerating.

According to EV Volumes, “The accelerated growth is a good sign for EV adoption. Nearly 200,000 plug-ins were sold in Q4 alone! Admittedly, some special events inflated the quarter 4 results much beyond the trend of Q1-Q3. There was the run on plug-in hybrids in the Netherlands and Sweden (lower incentives for 2016), the boost in mini-EV sales in China (lower subsidies, depending on range) and the Tesla hype in Denmark (revised tax exemption schemes), to name the most significant.

“More natural demand was created by a spree of new plug-in hybrids during the 2nd half of 2015 — BYD Tang, Chevy Volt II, Passat GTE, BMW X5, and Volvo XC90. Accordingly, sales volume of plug-in hybrids increased faster (+80%) than for pure EVs (+64%). The global ratio of EV:PHEV is now 60:40; PHEV gained 2% in the mix during 2015.”

In Europe, EV sales rose to 1.24% of all cars sold, although the picture varies widely across the continent. In Norway, for example, nearly 20% of cars were electrics or plug-ins last year. Meanwhile, in China, EV sales jumped 223% in 2015. The Chinese government defines any car with an electric motor as a “new energy vehicle.” A large number of small, two seat cars are sold in China each year. More and more of those are electrics.

The message from all these statistics is that government policies and incentives still play a vital role in the number of EVs that are sold every year. In China, the national government is embarrassed to find that its stunning economic growth, which was powered mostly by electricity generated from burning coal, has turned the skies over many of its cities into a poisonous stew. That polluted air is having disastrous consequences for its people. (Unlike Republicans in America, Chinese policy makers still place a higher priority on people than on corporations.) It not only offers generous EV incentives, it gives EV drivers preferential treatment when it comes to accessing parking and obtaining vehicle registrations.

The electric car revolution will not become a groundswell until electric cars are cost competitive with conventional vehicles. Until that day, incentives will be required to get people to spend more money for an electric car. When incentives get cut, EV sales drop. That was the case in Georgia last year. When it ended its generous $5,000 EV rebate and replaced it with an annual EV fee, sales of electric carsplunged 90%.

Swincar E-Spider Is Part Car, Part Lunar Rover

I could get in trouble very easily here, so let me just say that French cars have a certain je ne sais quoi that cars designed in other countries do not. Think of cars like the Citroen DS, SM and 2CV, the Renault Twizy, and the Peugeot Onyx. Need I say more?

Here’s a French creation that helps prove my point. The Swincar E-Spider boasts independent suspension and an electric motor for each of its four wheels. Perhaps “independent suspension” doesn’t really do the car justice. It has 4 long, individually articulated legs that allow it to be extremely nimble and navigate across anything that gets in its way.

The vehicle, if you want to call it that, uses a technology that lets each axle arm and wheel function on its own, creating one highly versatile ATV. According to the company, the E-Spider can travel up and down 70% grades and across a 50% slope with all four wheels firmly planted on the ground, according to Hybrid Cars.

Each wheel is driven by either a 1 or 1.5 kW motor which delivers instant torque. Underneath the driver’s legs is a battery pack with your choice of a 2, 4, or 6 kWh battery. The Swincar E-Spider uses a conventional steering wheel that turns the front and rear wheels in opposite directions

Created by Pascal Rambaud, Jerome Arsac, and Thierry James, the Swincar has been in development for 8 years and is almost production ready, according to Hybrid Cars. The company is currently seeking investors so it can bring the Swincar E-Spider to market. It even has plans for a two-seater if things work out, as well as a version with joystick steering.

Come to think of it, the Swincar E-Spider looks like it belongs in a video game, so perhaps the addition of a joystick would be appropriate. Maybe future astronauts could use one of these vehicles to train for future interplanetary excursions. Or it might just go into production as the next EV from Peugeot!

Electric Cars Proving Increasingly Popular With Customizers

Electric cars may not have broken into the mainstream yet, but increasingly aftermarket parts customizers are taking to vehicles like the BMW i3 as a way to showcase their wares. IND Distribution is the latest to add a bit of custom flair to the BMW i3, though they’re certainly not the first. Are electric cars the hottest new accessory in the automotive aftermarket?

It’s certainly starting to look that way. While IND Distribution really only added some bright blue HRE wheels and took some nice pictures, other shops have gone to greater lengths to distinguish their take on the i3. Some Japanese customizers even went so far as to build a kit out of carbon fiber, like the i3 itself. It’s part of a small but growing trend in the automotive aftermarket feeding an appetite for customized electric cars.

It’s not just the BMW i3 that’s getting custom parts. The Tesla Model S has proven popular with the customization crowd, with companies like Unplugged Performance popping up to offer Tesla owners a way to really make their cars stand out. Famed Mustang tuner Saleen Automotive also offers a kit for the Tesla Model S, as does Germany’s LARTE Design, which tends to focus more exclusively on high-end exotics.

Not to feel left out, tuners have also taken to the BMW i8 supercar with gusto, from wheels to wraps to whole body kits, because $$$$. There’s even a NISMO body kit for the Nissan LEAF that offers a (very) mild range and performance increase.

I’ve also noticed that bright blue and white seems popular with EV customizers. I don’t mind it, but there are other colors out there guys. I’m partial to shades of green myself.

Why so much interest in a market segment that is still so small? For one, electric vehicles get a lot of play in the media these days for a multitude of reasons. Just about anything with “Tesla” in the headline is all but guaranteed to get a decent amount of pageviews (trust me on that one). There’s a lot of hubbub around electric vehicles these days, from how they drive, and whether they’re practical to just how beneficial they are for the environment.

You also have to consider the kind of person that is buying an electric car these days. Generally speaking, EV buyers are younger and wealthier than buyers of a combustion-powered equivalent vehicle. They may not be “car enthusiasts” in the traditional sense, but the kind of early adopter willing to invest five-figures into what amounts to first-gen technology is probably more emotionally attached to their vehicle than the average Lexus driver.

While mas acceptance of electric cars may still be a few years away, there are plenty of enthusiasts and companies that are already way ahead of the curve.

Richard Branson Hints At Electric Car From Virgin

How much weight can you place on a few words spoken in an unguarded moment during an informal press interview? If the speaker is billionaire Richard Branson, the answer is, “Quite a lot.”

Branson was in Miami last week to watch his Virgin Racing team compete in the 5th round of the Formula E championship. He happened to be speaking with a reporter from Bloomberg News who asked him what racing in Formula E might lead to. Branson replied with this unscripted, off hand remark (via Bloomberg):

“We have teams of people working on electric cars. So you never know. You may find Virgin competing with the Tesla in the car business as we do in the space business. We will see what happens.”

It’s true that Branson’s Virgin Galactic company is working hard on commercial space flight, as is Elon Musk’s SpaceX corporation. He’s also big into renewable energy these days. It’s not unusual for billionaires to compete fiercely with each other as a way of measuring their power, influence and manhood. Perhaps the irrepressible Branson is miffed that Musk is enjoying so much success in the car business with Tesla and just wants to divert the media attention his way a little bit.

Anything is possible, but one thing is for sure. If Richard Branson wants to jump into the car business, he has the means to do so. He is no stranger to challenges such as being the first man to travel around the world in a helium balloon. If he says “Do it!”, it will be done.

For the present season, Formula E rules do not allow any variations in motors, batteries, inverters. gearboxes or cooling systems. But starting next year, development of motors, inverters and gearboxes will be allowed and the following year, improved batteries will be permitted. So Branson and Virgin Racing will need to have some very talented engineers to remain competitive with the rest of the field. Could those same engineers be put to work on building a passenger car or two?

What do you think?

GM to invest $325 million in electric vehicle parts manufacturing

On Friday General Motors announced it would be investing $325 million to support production of future electric vehicle components in its Warren, Mich. plant.

The money is to go toward tooling and equipment and would add or retain 418 jobs at the facility which currently has 679 employees.

“This investment in the future recognizes the excellent work force and operation of this plant,” said GM Manufacturing Manager Gerald Johnson. “While we aren’t sharing many details about this product, I can tell you that this investment demonstrates how GM, working with our UAW partners, continues to innovate and bring new electrification solutions to our customers.”

GM Warren Transmission employee Michael Burrows assembles a six-speed transmission on Friday in Warren, Mich.

No timing was given for when these EV-oriented upgrades would be made. Presently most of the plant’s employees are engaged in building six-speed automatic transmissions for the Chevrolet Traverse, Buick Enclave, GMC Acadia crossover vehicles and Chevy Malibu sedan.

The suburban Detroit facility has 2.1 million square-feet of space, equivalent to the area of 15 city blocks, and in 2010 produced more than 338,000 transmissions.

Partial credit for adding EV parts to its production was taken by the United Auto Workers union, which negotiated the project and jobs during recently settled contract talks.

“We are very proud of the membership of UAW Local 909 whose hard work and dedication to building quality products is why this new electric drive unit module is being built in the United States,” said Joe Ashton, UAW vice president representing the GM Department. “These good paying, middle class jobs are very important for the State of Michigan and the Metro Detroit area. It is the UAW’s goal to increase employment at GM and show the world that we can compete with anyone.”

These are strong words that – added to GM’s comments – could partially allay concern among those who question GM’s commitment to electrification following news that it would introduce no new Voltec models until 2015.

The decision to build EV parts also adds a piece to the information puzzle following GM’s announced plans to co-develop electric vehicles with battery maker A123 Systems.

We do not know if Voltec parts would also be made at Warren, or if this is for the Spark EV, or battery electric vehicles yet to be made known.

The company has said it would build the Voltec-based Cadillac ELR and Spark EV, but has not specified their timing either.

Nor did GM disclose how many new jobs would be created to make electrified vehicle parts versus jobs that are merely being retained, so we have no idea of the scope of this initiative.

So go figure. At the rate of announcements in the past weeks and months, we would not be surprised to hear more dribs and drabs of EV news not long from now, but GM is being careful not to release information ahead of time.

The only story the company is telling loud in clear is regarding its big picture commitment to create more electrified vehicles, and to remain competitive with them on a world scale.

Source: GM-Volt.com

Introducing BMW's ActiveE Electric Vehicle - VIDEO

A look at the BMW ActiveE, inside and out.

Smith Electric Vehicles US Finalizes Purchase of Smith Electric UK for $15M

Smith Electric Vehicles US (SEVUS) will finalize the purchase of its United Kingdom-based parent company, Smith Electric Vehicles (UK), creating the world’s largest manufacturer of commercial electric vehicles. The $15-million sale will be effective 1 Jan. 2011. Smith UK’s current owner, the Tanfield Group, will retain 49% equity in Smith Electric Vehicles US This percentage is subject to dilution as Smith raises additional equity capital.

The purchase will be split into 20 payments, payable monthly, with the first payment made on completion of the sale. Interest will accrue on the principal outstanding amount at the rate of 4% over base rate. In the event of an IPO of SEVUS, the full balance would immediately fall due. SEV reported losses of £2.159 million (US$3.333 million) for the 6 months to 30 June 2010 and net assets at that date of £9.607 million (US$14.8 million).

This sale signals a bright future for the electric commercial vehicle industry. Being in a position to unify Smith’s divisions after less than two years of operating in the United States is evidence that the market for affordable, sustainable commercial fleets is fertile. The unification of Smith Electric Vehicles will create operational efficiencies and market synergies that will make Smith more financially sound and productive.

—Bryan Hansel, CEO of Smith Electric US

Smith UK has been a leading manufacturer of zero-emissions battery-electric commercial vehicles in Europe since the 1920s. It operates an unrivaled UK-wide service and support network that already maintains more than 5,000 vehicles for major fleet operators. The US branch of Smith, launched in 2008, has licensed the proprietary technology for its all-electric Smith Newton trucks from the US division.

In 2009 Smith Electric US licensed the technology from the Tanfield Group and began to introduce the Smith Newton to the United States. Smith Electric US is now a privately-held company owned by Private Investors, Tanfield, and Management, headquartered in Kansas City, Missouri. The consolidation enhances a possible public offering of its equity securities in the United States.

Source: Green Car Congress

CES Study Finds 40% of American Adults Likely to Test Drive an EV

Forty percent of consumers report they are likely to test drive an electric vehicle, according to a new study of online American adults from the Consumer Electronics Association (CEA). The study, Electric Vehicles: The Future of Driving, suggests electric vehicles entice consumers with improved environmental quality and potential cost savings, but leave them with questions about battery life and convenience of battery charging.

Consumers are open to considering an electric vehicle in the future, with 42% reporting they are likely to follow news reports about electric vehicles. However, overall awareness of the various types of alternative vehicles remains low. While nearly one-third (32%) report they are familiar, or very familiar, with hybrid vehicles, only about one-quarter are familiar with electric-powered vehicles (25%).

Those consumers who are open to buying an electric vehicle cite the positive environmental impact and potential cost savings as primary reasons to do so. More than three-quarters of those surveyed (78%) said the vehicle’s ability to run without gasoline is the greatest advantage, followed by less pollution (67%), and the lack of need for oil changes and tune-ups (60%).

For a new product category, interest in electric vehicles is strong and likely to grow as more vehicles enter the market and consumers become more aware of them. Manufacturers, dealers and other sellers will need to emphasize mileage and battery-related specifications when promoting and selling electric vehicles.

—Chris Ely, CEA’s manager of industry analysis

According to the study, consumers perceive several disadvantages about electric vehicles. Concerns about mileage potential before needing to recharge (50%) and battery life (34%) top the list. Cost of the vehicle, reliability and availability of charging stations are also key concerns many consumers have.

The study finds running out of battery power on the road (71%), lack of charging stations and/or not being able to recharge (66%) and limited mileage (59%) are the most common perceived disadvantages with electric vehicles. Home charging stations may also impact purchase decisions. Half of consumers (51%) would be less likely to consider purchasing an electric vehicle if they would have to install special charging equipment for the batteries.

Environmental benefits, coupled with potential cost savings in fuel and tune-ups, will lead to increased interest for electric vehicles and potential floor traffic at dealerships. But concerns regarding battery life, charging stations and limited mileage may keep some consumers away until a comprehensive infrastructure is in place.

—Chris Ely

For the first time, electric vehicles will be featured at the 2011 International Consumer Electronics Show (CES), showcasing a full range of high- and low- speed vehicles, energy storage devices and charging equipment. This new CES TechZone will feature major automotive companies, including Audi, in the Las Vegas Convention Center’s North Hall.

Electric Vehicles: The Future of Driving (August 2010) was conducted from 27 May – 3 June 2010. It was designed and formulated by CEA Market Research, the most comprehensive source of sales data, forecasts, consumer research and historical trends for the consumer electronics industry. The complete report is available free to CEA member companies at members.CE.org. Non-members may purchase the study for $699 exclusively at mycea.CE.org.

Source: Green Car Congress

Senate Energy Committee approves $3.6B for electric vehicles

The Senate Energy Committee has approved a $3.6 billion bill to boost electric vehicles.

The bill approved on a 19-4 vote this morning is a scaled-back version of an $11 billion bill first proposed in May.

But its fate is still in doubt as Senate Democrats are debating whether to include new electri vehicle funding as part of an energy bill they hope to approve before Congress goes home next month.

Separately, the committee approved a bill introduced by Sen. Debbie Stabenow, D-Lansing, that would extend the $25 billion retooling loan program for advanced technology vehicles. But the Senate hasn't yet said how much more it might add to the program.

The Stabenow measure expands the eligibility of vehicle technologies that would qualify for the program, including natural gas vehicles. It would also urge the Energy Department to carry out research programs for advanced technologies for vehicles, and to study whether the federal government could convert thousands of government vehicles to natural gas power.

The Stabenow measure would also make medium- and heavy-duty trucks eligible for the program.

The bill approved by the Energy Committee, which was authored by U.S. Sen. Byron Dorgan, D-N.D., seeks to promote the deployment of plug-in electric vehicles through a series of "deployment communities."

The Promoting Electric Vehicle Act of 2010, would extend and expand national incentives to accelerate the introduction of electric vehicles.

"Passing this legislation will strengthen our national security and improve the air we breathe, while relying on our abundant and diverse electricity supply to fuel our cars," Dorgan said. "We are now one step closer to dramatically reducing our dangerous dependence on foreign oil that hurts our economy, helps our enemies and puts our security at risk. Domestic petroleum will always be an important part of our country's energy strategy, but we also must invest in alternative energy approaches including electric cars."

The bill would create "deployment communities" across the country, where targeted incentive programs for electric vehicles and charging infrastructure systems would help demonstrate rapid market penetration and determine what best practices would be helpful for nationwide deployment of electric vehicles.

Dorgan wants to electrify half its cars and trucks by 2030, which if achieved, would cut U.S. demand for oil by about one-third.

Advocates of electric vehicles praised the vote.

"Republicans and Democrats have taken another critical step toward finally ending our nation's dangerous dependence on oil," said Robbie Diamond, president of the Electrification Coalition.

Congress has already set aside billions of dollars to boost electric vehicles, including $2.4 billion in grants for electric vehicle and battery research. It also approved a $7,500 tax credit for purchasing electric vehicles.

Source: Detroit News