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You are browsing the archive for November 2012 – EV News Report.

Avatar of Jack Collins

by Jack Collins

Smart Electric Priced for Main Street

November 30, 2012 in Daimler, Electric Vehicles, EV News, Smart Electric

Smart Electric Priced for Main Street EV News Report photo

Smart Electric Priced for Main Street
EV News Report photo

The new smart electric vehicle is soon to hit the US market with an expected price tag of $25,000, which places it well within mainstream budgets, especially after considering federal and state tax credits. 

The average driver at today’s gas prices can potentially save thousands over the years.  For example in California, off-peak EV charging with Pacific Gas and Electric can save around $1,000 a year in fuel costs verses the standard 27mpg car.  So, the Smart Electric is truly a compelling buy, considering tax credits and fuel savings.  Is this EV the catalyst to set the EV market ablaze?

I think it all depends on how Smart markets it.  This EV has an economic, environmental, and domestic electric energy story.  I hope the rest of the auto industry can match the Smart price point in the near future.  America needs millions of these EVs to make a meaningful drop in imported oil supplies.  We have been moving in the right direction, slowly.  Hopefully, the people at Smart inspire the auto industry with a great marketing campaign.  This EV has that potential as a game changer.

Photo courtesy of Smart Electric

In the future, I would like to see a wireless charging trial with a Smart Electric rental service.  In my opinion, San Francisco would be an ideal market for such a trial.  San Francisco Mayor Ed Lee is eager to adopt electric vehicles, and San Franciscans themselves are tech-savvy early adopters.  A wireless trial of the Smart Electric would surely kindle EV sales and further stimulate the technology of the industry.

Please visit the Smart Electric Category for extensive coverage of the Smart Electric.

For more information, please visit: Smart.

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Avatar of Jack Collins

by Jack Collins

China’s Yuan Trading Partners Want Yuan Convertibility

November 30, 2012 in China, Economics, EV News, Oil, Politics

China’s Yuan Trading Partners Want Yuan Convertibility Image courtesy of CIA

China’s Yuan Trading Partners Want Yuan Convertibility
Image courtesy of CIA

Chinese oil demand has slowed, as well as passenger vehicle demand. 

However, these numbers are still growing in the mid-single digits annually.  Altogether, China has been throwing off signs of a maturing economy.  The new Chinese leadership should feel more comfortable to tackle the currency issue without having to be concerned about disrupting torrid growth.

The Chinese Yuan has risen in recent trading to 6.23 to the Dollar, the high end of the trading range.  A higher Yuan does help keep inflation in check, especially as oil demand climbs with the passenger vehicle market.  But, a reserve currency Yuan would help solidify the oil trade for China.  Oil exporters want a secure currency for their large trading volumes, and many would probably hold Yuan reserves if it was fully convertible.  After all, currency is only truly money if it is fully convertible on international markets.  Chinese oil imports are about 5.5 million barrels a day, according to EIA country statistics.  Given recent trends, the Chinese may pass the US in oil imports in the not so distant future.

Chinese Yuan trading partners would certainly feel more comfortable with Yuan convertibility. 

The Chinese trade numbers with Russia, Australia, Brazil, and others are huge trade numbers.  These Yuan monies need to float freely in the world financial system for China to reach full maturity.  The Yuan is simply not truly money until it is fully convertible.  In market panics, even Russia may feel more comfortable selling oil for Dollars than Yuan.

EV News Report latest news in China Category.

For more information, please visit Energy Information Administration.

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Avatar of Jack Collins

by Jack Collins

Nissan LEAF Tree Grows Stronger for Less

November 29, 2012 in Electric Vehicles, EV News, LEAF, Nissan

Nissan LEAF Tree Grows Stronger for Less Nissan LEAF Photo courtesy of Nissan

Nissan LEAF Tree Grows Stronger for Less
Nissan LEAF
Photo courtesy of Nissan

In its Japanese market, Nissan unveiled its latest version of the Nissan LEAF with a little more battery range and about a $6,000 drop in the price. 

This is good news, and the company plans to bring these changes to its US market.  As Nissan’s Tennessee plant starts to crank out the LEAFs, let’s hope these upgrades come quickly.  It has been no secret that the LEAF is too expensive for most.  Sadly, it is a good looking vehicle that many would like to see in the driveways of middle class America.  In the short term, this may take a little more doing from Washington DC.

With the reelection of President Obama, there has been recent talk of an upgrade of the $7,500 federal tax credit to a $10,000 federal rebate.  We shall see.  Regardless, EVs are still too expensive, but the new Japanese LEAF demonstrates that pricing and technology are improving.  I have no doubt that technological innovation and mass manufacturing will continue this trend.

The Nissan plant in Tennessee is hoping to produce 150,000 LEAFs a year.  This is the capacity of the plant.  It may be early, but this production will come.  The company produces a high quality product.  LEAF owners love their LEAFs.  Personally, I have never seen such adulation over a vehicle, as I have witnessed with California LEAF owners.  I am absolutely confident that the LEAF will take root in time.

EV News Report has an extensive Nissan LEAF Category.  The news is updated regularly.  Thanks for your interest in electric vehicles.

For more information, please visit Nissan.

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Avatar of Jack Collins

by Jack Collins

Tesla Supercharger Stations, a Green Exit

November 29, 2012 in Electric Vehicles, EV News, Supercharger, Tesla

Tesla Supercharger Stations, a Green Exit Photo courtesy of Tesla

Tesla Supercharger Stations, a Green Exit
Photo courtesy of Tesla

Tesla is right on the money with the Supercharger Stations.  This is the way the marketplace should work, innovation.  EV enthusiasts and environmentalists have to smile at an auto manufacturer providing free electric charging from the sun.  I hope all the California Model S drivers take advantage of the stations to take a road tour.  This is something to celebrate.

According to the Tesla website, Tesla plans to expand these stations across the country.  Currently, the website shows six scattered across California.  If I were a California Model S owner, I would be hitting the road.  This is a momentous event in United States history.  Elon Musk and the team at Tesla and Solar City have the vision to change the way we power America.  They are replacing imported oil with clean American power.

Tesla has found its stride.  They have a clear focused vision that resonates long into the future.  They are a winning team that strives for excellence.  The world has certainly taken notice.  We are moving towards a better place, a little faster now.  Undoubtedly, this move by Tesla will be met by the competition.  If something is so right, the competition scrambles to catch up.

My hope is that Tesla manufactures an economical EV, next.  There is a huge market on the low end.  It is a market wanting to participate.  In my opinion, the first manufacturer to produce a cool, high-quality yet economical EV will set the greentech market on fire.

EV News Report has an extensive Tesla Supercharger Category.

Tesla Supercharger station updates can be found on the Tesla website.

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Avatar of Jack Collins

by Jack Collins

Rising Yuan Darkens Dollar Outlook

November 29, 2012 in China, Economics, EV News, Oil, Politics

Rising Yuan Darkens Dollar Outlook EV News Report photo

Rising Yuan Darkens Dollar Outlook
EV News Report photo

In September, the US trade deficit with China was 29.1 billion.  Yes, the Chinese Yuan is extremely undervalued verse the US Dollar.  However, the Chinese Yuan is not a reserve currency.  It must be backed by reserve currencies to manage international trade.  All of Asia took this lesson to heart in the late 1990s.  Hence, the three trillion plus in currency reserves, the Chinese have amassed over the years.  They have recently liberated the Yuan to some degree, but it still does not float on international currency exchanges.

This is the next step, the free floating of the Yuan.  The Chinese economy has matured, and the country needs to develop its middle class consumer economy.  The door is open to China today to make the move.

All around the world, governments are looking to diversify currency reserves from the Dollar and the Euro. 

The United States and Europe are loaded with debt.  China looks like a great long term place to diversify currency reserves.  Timing is everything, and the door is wide open.

When the Yuan floats, the markets around the world will know China has arrived.  The demand for Yuan will move the Yuan higher, and the Chinese consumer will experience a higher purchasing power.  In general, all of Asia will rise in purchasing power, as exchange rates adjust to China.  Commodity prices in Dollars will rise as the Dollar falls in relation to Asia.

Rising commodity prices with the increased affluence of Asia necessitates the United States to rectify its long neglected trade imbalances, most especially the oil trade deficit.  The US needs to get off foreign oil.  Electric Vehicles are the solution.  When we rectify our energy trade imbalances, we insulate the United States from market shocks.  The rise of the Yuan to reserve status will likely move markets quickly.  The demand for the Yuan is in the marketplace, today.  By floating the Yuan, the Chinese government will yield to the marketplace.

EV News Report latest news in China Category.

For more information, please visit Energy Information Administration.

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