Electric Car News Roundup – 25

electric car news

Labour To Promise £60bn In Interest-Free Loans For Electric Cars


The Labour party has set its vision for a ‘Labour Government’ to include promoting widespread uptake of electric vehicles in the U.K.  Labour, the main opposition party has stated that under a ‘Labour Government’ up to £60bn will be provided over five years in the form of ‘interest-free’ loans for electric cars.  The vision for electric cars is part of the broader ‘green industrial revolution’ for the the U.K.  

Furthermore, the Labour party is set to make further announcements at its annual party conference this week, to include an investment of up to £5.8 billion into the automotive sector to accelerate the shift towards zero-emission road transportation.  

Labour Party Conference 2019
Labour Party Conference 2019 (credit: FT)

e-zoomed view


We certainly applaud any effort that will ‘ease’ the financial burden of electric vehicle ownership in the U.K.  Pricing has been a key issue in relation to the adoption of battery electric vehicles (BEVs) in the U.K.  

However, the recent announcements of new all-electric models by automotive manufacturers suggest greater ‘affordability’ of EVs.  We expect this trend to continue as the electric vehicle industry further develops. Having said that, any support from the government, in addition to the current plug-in car grant (PiCG) incentive will assist in increasing the uptake of EVs.  


Tesla Is Developing An Electric Car Battery That Will Last For A Million Miles


Researchers at Dalhousie University have published a paper in the ‘Journal of the Electrochemical Society’ that describes a lithium-ion battery that can achieve a million miles.  The research has been funded by the co-founder of Tesla Inc., Elon Musk. Earlier this year, Mr. Musk has suggested that Tesla electric cars will have batteries that will last a million miles.  


e-zoomed view


Mr. Musk continues to find ways to make mass adoption of electric cars a reality.  In many way, he alone has done more than many of the largest governments in the world, to make zero-emission road transportation a reality. Certainly, an increased ‘battery life’ is important. This is not only for its use in electric cars, but also the recycling of EV batteries for other areas to include battery storage. The more the EV batteries the lower the ‘life cycle carbon footprint’.


The Electric ‘Lounge On Wheels’ Could Be Yours – By Subscription Only 


Canoo, a California based start-up has revealed a ‘subscription only’ electric mobility concept. The futuristic looking all-electric car is based on the ‘Bauhaus’ philosophy of ‘minimalism and functionality’ and is a cross between a van and a car.  The electric car company describes the electric vehicle as ‘post-SUV’.  According to Canoo’s acting chief executive, Ulrich Kranz “because it offers a commanding seating position, like an SUV, and pretty much the same space as a large SUV but on a way smaller footprint”.

Canoo Electric Car
Canoo Electric Car (credit: CNN)

e-zoomed view


We have not had the opportunity to study this EV start-up in detail.  However, at initial glance, they are correct to focus on ‘functionality’.  We believe, in due course, mobility will become less personal and more generic in form.  Mobility design will be influenced substantially in due course by the changing mode of ‘ownership’ of cars.  We envision most households will not own a car, but instead use ‘car sharing formats’ of different types for their transportation needs.  Canoo is also right to focus on a ‘subscription only’ model, as the future of car ownership will be based on similar business models.   


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

And more!  Do sign up to our e-newsletter to learn more about electric cars. Also follow us on Facebook, LinkedIn and Twitter. 



Author

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.

Sign up for e-zoomed news and offers

This site uses technical cookies to guarantee an optimal and fast navigation, and analysis cookies to elaborate statistics.
You can visit the Cookie Policy to get more insights or to block the use of all or some cookies, by selecting the Cookie Settings.
By choosing Accept, you give your permission to use the abovementioned cookies.

Privacy Settings saved!
Privacy Settings

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. Control your personal Cookie Services here.

These cookies are necessary for the website to function and cannot be switched off in our systems.

In order to use this website we use the following technically required cookies
  • wordpress_test_cookie
  • wordpress_logged_in_
  • wordpress_sec

Decline all Services
Accept all Services
0