Tag Archives: Tesla

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The future of used electric cars

The production of new electric cars is expanding, but the increase in production costs causes higher prices, so new electric cars have become less available to more customers. Some countries, such as China, use subsidies to help manufacturers be more competitive in the market, making their cars more accessible to more customers. But what about used electric cars?

At the Oxford EV Summit, Tesla UK Sales and Delivery Manager, Michael Oates, spoke on the topic of used electric vehicles and their position in the future. He believes that used electric vehicles will play an important role in the transition to sustainable forms of transportation.

“After the early adopters of electric cars, we need to start getting in front of those for whom an electric car is not necessarily a choice for their next (car) purchase. That’s why I believe used cars are absolutely crucial to ensure that as many people as possible can experience owning and driving an electric car, ” said Michael Oates.

According to Cox Automotive, demand for used electric vehicles in the US is on the rise, primarily due to their cost. In the UK, sales of used electric vehicles rose by 81 percent to 30,645 units.

Certainly, anyone who wants to buy an electric car in the future should also consider buying a used EV.

Source: CNBC

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Tesla Cybertruck deliveries begin on November 30

It’s been four years since Tesla’s Cybertruck story began, and recently the first produced example of this vehicle was sold at auction. The company has so far received over 2 million reservations, and now it is officially known when the first copies will reach their owners.

In July, American media reported that they heard a little earlier that Tesla had already informed suppliers to be ready for the start of production of the Cybertruck at the end of August, while delivery would begin by the end of the year. That will be November 30.

Tesla is one of the few companies in the world that has its own production of all components for its vehicles. In the financial report for the third quarter of 2023, it was announced that the annual production capacity is 125,000 units of Cybertruck per year. The company could use a significant portion of the plant’s production capacity, and time will tell if the production volume will increase. Of course, we have to wait for the prices and specifications of the Tesla Cybertruck as these details are not yet available.

Also, a photo of three Cybertrucks loaded onto a Tesla Semi electric truck was published, so it can be guessed that deliveries will be made with these trucks.

Cybertruck will be powered by three electric motors with a total output of 805 hp (600 kW) and 1,033 lb-ft (1,400 Nm), which is enough to push the car to 62 mph in just 3 seconds with a top speed of 130 mph (209 km/h). It has a range of up to 500 miles.

Source: Tesla

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Volkswagen ID.7 Vizzion is 57.4% cheaper in China than in EU

The new electric sedan Volkswagen ID.7 Vizzion is coming to the Chinese market, and the most attention is attracted by the price of the car, which is 57.4 percent cheaper than in Germany. Why is this so, whether and in what way the Chinese authorities help manufacturers to be more competitive on the market?

The Chinese authorities subsidize domestic car manufacturers in various ways, through loans from state-owned banks, capital reserves from state investment funds or lower electricity fees. A few years ago, the Chinese government gave about one billion euros to Nio to save it from bankruptcy. However, it was not just financial support, because with that money the government bought a 24 percent stake in the company. After that, there was another financial injection from an unnamed state banking house in the amount of 1.5 billion euros. Now the government is helping Nio with 32,000 euros per car.

In order to be more competitive in China, VW reduced car prices last month, which turned out to be good, when it comes to sales. However, growth was achieved primarily through the sale of low-cost cars such as the Lavida sedan (13,345 euros), putting VW in second place with 1.56 million vehicles sold. BYD was first with 1.79 million vehicles sold, and Toyota was third with 1.24 million cars.

What may worry VW and its Chinese partners is the problem of low demand for their battery vehicles, as the company is sold 92,332 units. Compared to the biggest competitor, BYD (893,754 vehicles), the problem seems even bigger. Also, Tesla managed to sell five times more electric vehicles (433,729).

Another reason why cars made in China are cheaper compared to the rest of the world is cheap labor. A manufacturing worker there earns about a third of what an American or European auto worker earns annually. Also, Reuters recently wrote about an unnamed employee of the Changan Automobile Factory in Che-fei, who experienced a reduction in income and left his job in July, because his salary in May and June was only four thousand yuan a month (about 512 euros ), instead of 900 euros as he expected.

How the rest of the world, primarily Europe and the USA, will react to the increasing pressure that Chinese manufacturers are putting on the global market remains to be seen.

Source: VW, Reuters, NYT

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Volkswagen ID.7 Vizzion is 57.4% cheaper in China than in EU