Electric Car News Roundup – 24

electric car news

UK Ranks 2ndCheapest Country In Europe To Own An Electric Vehicle

According to Alfonso Martinez, Managing Director, LeasePlan UK, the disparity in prices between internal combustion engine (ICE) petrol/ diesel cars and plug-in electric vehicles has narrowed,  with  the United Kingdom as the ‘second most cost-effective’ nation in Europe to own an EV.

He further states “This year’s Car Cost Index has shown that electric vehicles are increasingly becoming a rival option to traditionally fuelled vehicles, as costs are continuing to fall and legislation, such as the Company Car Tax announcement from July, is now actively encouraging drivers to look for electric alternatives.”  

UK pound sterling

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Though we do not have a detailed understanding of the analysis conducted by LeasePlan UK, we accept the general assertion that the disparity in prices between electric vehicles and internal combustion engine vehicles has narrowed.  

But this is not surprising.  Look at the growth of any industry over the past 100 years, and it will be clearly evident, that as the industry gains scale and maturity, the prices fall.  The semiconductor industry is an excellent example of the strong correlation between economies of scale and lower pricing. But even if we look at the last decade, the renewable energy industry has demonstrated very successfully the same concept.  In the case of renewable energy, in particular, solar energy, the cost of ‘silicon’ was the predominant issue.  However, overtime, the price of silicon dropped significantly, such that ‘solar grid parity‘ became a reality.  The electric vehicle industry shares similar themes with the renewable energy industry.  In the case of electric vehicles, the largest contributor to an electric vehicle cost is the EV battery (up to 60%).  However, as the EV industry has developed over the past few years, we have witnessed improved performance and lower costs of batteries. This trend will continue over the next few years, tracking very closely the adoption/ scale of EV deployment.  

In our view, it is not ‘if’ but ‘when’ electric cars will become cheaper than petrol or diesel cars.  We expect this to be in the near future, and hope within the next 3 to 5 years, if not sooner.

BMW Signals End Of Road For Its i3 Electric Car

BMW, the German automotive company has announced it will not renew the BMWi3 pure electric car. The company will instead put its efforts on the electrification of its current portfolio of cars i.e. make EV more mainstream in its business.  However, the company will continue to build the i3.  “There’s no specific plan for an i3 successor” according to Pieter Nota, BMW Sales and Marketing Chief.  

BMW i3 Hatch 5Dr Electric 42.2kWh 170 EU6
BMWi3 All-Electric Car

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Though at first impression it may seem surprising not to continue with the success of the ubiquitous BMW i3, we believe in the long term, the strategy to focus on the main stream electrification of the BMW portfolio will pay dividends.  BMW is already in a strong position to leverage all its experience and knowledge from the development, production and sales of the BMW i3.  The ability to leverage this ‘competitive advantage’ to its maximum will help define its success into mainstream electrification.  The German manufacturer is also correct to continue to manufacturer the BMWi3.  There is absolutely every reason to continue to exploit the success of the BMWi3 battery electric vehicle (BEV).

U.K. Energy Review Could Offer Incentives For Electric Car Sales

The U.K. government has been assessing the energy market and its policies over the past year.  Some officials have suggested ‘new incentives’ to further promote the adoption of electric vehicles in the United Kingdom. In particular, given the backdrop of eliminating greenhouse gas emissions by 2050. One of the potential incentives could be manufacturers offering EV customers free charging.  

electricity power lines
Electricity Power Lines

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We at e-zoomed, certainly welcome more incentives for encouraging the adoption of electric vehicles in the U.K. In particular, given the revision of the plug-in car grant (PiCG) earlier this year. The current pricing of electric cars has been an issue that has concerned potential buyers, and any step in alleviating the ‘acquisition or running cost’ of EVs, will be critical in successfully migration from polluting diesel and petrol cars to zero-emission all-electric cars.  We look forward to receiving confirmation of new incentives for the EV sector! 

We at e-zoomed are more than happy to assist you with all your EV needs to include:

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Ashvin Suri

Ashvin has been involved with the renewables, energy efficiency and infrastructure sectors since 2006. He is passionate about the transition to a low-carbon economy and electric transportation. Ashvin commenced his career in 1994, working with US investment banks in New York. Post his MBA from the London Business School (1996-1998), he continued to work in investment banking at Flemings (London) and JPMorgan (London). His roles included corporate finance advisory, M&A and capital raising. He has been involved across diverse industry sectors, to include engineering, aerospace, oil & gas, airports and automotive across Asia and Europe. In 2010, he co-founded a solar development platform, for large scale ground and roof solar projects to include the UK, Italy, Germany and France. He has also advised on various renewable energy (wind and solar) utility scale projects working with global institutional investors and independent power producers (IPP’s) in the renewable energy sector. He has also advised in key international markets like India, to include advising the TVS Group, a multi-billion dollar industrial and automotive group in India. Ashvin has also advised Indian Energy, an IPP backed by Guggenheim (a US$ 165 billion fund). He has also advised AMIH, a US$ 2 billion, Singapore based group. Ashvin has also worked in the real estate and infrastructure sector, to including working with the Matrix Group (a US$ 4 billion property group in the UK) to launch one of the first few institutional real estate funds for the Indian real estate market. The fund was successfully launched with significant institutional support from the UK/ European markets. He has also advised on water infrastructure, to include advising a Swedish clean technology company in the water sector. He is also a member of the Forbury Investment Network advisory committee. He has also been involved with a number of early stage ventures.

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