Polestar Australia to open its first retail Space showroom concept in Melbourne
Polestar Australia announces its first retail "Space" will open in Victoria at the Chadstone Shopping Centre this summer.
The Polestar Space in Oslo’s main shopping district. Images: Polestar
Polestar Australia announces its first retail "Space" will open in Victoria at the Chadstone Shopping Centre this summer. Spaces are an opportunity for prospective customers to get up close to the cars, without the pressure of the traditional dealership model (similar to Tesla).
The award-winning Space concept has been designed to supplement the brand’s digital-first retail model, providing customers with an environment to connect with the brand, take a test drive, and experience the customer-centric approach of its team.
Specialists, rather than salespeople, staff Polestar spaces meaning that there's room for customers to explore at their own pace and seek expert assistance if required to help with questions without the pressure of a sale.
Samantha Johnson, Head of Polestar Australia said, “We are excited to announce the location of our first Polestar Space. Chadstone Shopping Centre is a destination, and Australia’s largest shopping precinct.
“Our Space concept has been carefully designed to reflect the brand’s minimalist brand philosophy while presenting a welcoming environment in which customers can experience the all-electric Polestar 2 at leisure.
It’s not clear whether the new Chadstone Space will offer a service facility; Polestar’s Australian website still states that service locations are coming soon. We understand that presently, servicing and warranty work is either arranged through the collection of customer vehicles, temporary Polestar Spaces, or select Volvo dealerships.
Polestar and Hertz announce global partnership - up to 65k EVs will be added to rental fleet
Customers in Europe, North America and Australia will be able to rent a Polestar 2 from select Hertz locations before the end of 2022, as the company announces a deal to purchase up to 65,000 of the Swedish designed/Chinese made EVs.
Hertz has signed a deal with Polestar to purchase up to 65,000 electric Polestar 2’s for its global rental fleet. Images: Polestar
Polestar and Hertz have announced a global partnership that will include the purchase of up to 65,000 Polestar 2 EVs over five years. Hertz expects customers will be able to rent a Polestar from this Spring in Europe, and late 2022/early 2023 in Australia and North America.
Hertz has committed to lead the electrification of rental fleets, with the company previously leasing Tesla Model 3s and more recently, Model Ys.
For Hertz, the partnership is part of the company’s ongoing commitment to lead in electrification within the rental vehicle business, as the company targets a digital-first customer experience. The partnership with Polestar builds on Hertz’s announcement last October to offer its customers the largest EV rental fleet in North America and one of the largest in the world. In addition to making the fleet available to its business and leisure customers, Hertz is extending EVs to rideshare drivers as a way to further accelerate electrification.
“We are excited to partner with Polestar and look forward to introducing their premium EV products into our retail and rideshare fleets,” said Stephen Scherr, Hertz CEO. “Today’s partnership with Polestar further builds on our ambition to become a leading participant in the modern mobility ecosystem and doing so as an environmentally-forward company. By working with EV industry leaders like Polestar, we can help accelerate the adoption of electrification while providing renters, corporate customers and rideshare partners a premium EV product, exceptional experience and lower carbon footprint.”
“Polestar is committed to accelerating the move to electric mobility with a fascinating and innovative product portfolio,” said Polestar CEO Thomas Ingenlath. “We are delighted that Hertz has chosen Polestar as a strategic partner on their road to electrification. The partnership with a global pioneer like Hertz will bring the amazing experience of driving an electric car to a wider audience, satisfying a broad variety of our mutual customers’ short- and longer-term mobility requirements. For many of them it may be the first time they have driven an EV, and it will be a Polestar.”
Hertz will initially order Polestar 2, and Australians and North Americans can expect to see them available at major metropolitan rental locations before the end of 2022. Europeans will be able to rent a Polestar 2 first, with the fleet upgrade scheduled for Spring this year.
Electric Mini makes up 10% of brand's registrations in Australia with strong global sales in 2021
385 examples of the MINI Electric have been registered in Australia since launch, and the brand has had a strong year of sales in 2021 with around 53,243 units finding their way to customers globally.
The MINI Electric has been a strong seller for the brand in Australia.
There were 291 MINI Electric Hatch registrations in Australia in 2021, growing 210 percent on 2020’s results. For a brand with a global ambition to release its last fossil fuel-powered model by 2025 and go all electric by 2030, these are promising figures in a small market.
Nearly one in 10 MINIs registered in Australia are electrified, with the MINI Countryman PHEV model showing 156 percent growth in 2021, with 141 registrations.
The MINI Electric launched in Australia in 2020, and 385 MINI Electric Hatch models have been registered in total to date. The automaker is showing positive sales
The news follows strong sales figures in the German market, with in excess of 10,000 MINI Electrics registered during 2021; up 132 percent YoY. This meant that one in five MINIs registered in Germany are now fully electric.
In terms of worldwide sales, MINIs electrified range made up 18 percent of worldwide sales in 2021; around 53,243 units total. This was up 64.3 percent on 2020 figures.
BMW has confirmed that the next generation MINI Electric will be produced in China, in partnership with Great Wall Motors. It will continue to produce combustion engine models at its MINI Plant Oxford in the United Kingdom.
Undisguised prototypes of the future MINI electric have reportedly been spotted in China, with details shared by motoring journalist Greg Kable.
Genesis reveals official images of E-GMP based GV60 electric crossover
Genesis has released official images of the new GV60 all electric crossover today, less than a week after we caught a prototype testing in Sydney, Australia. Based on Hyundai Motor Group’s E-GMP platform (which we seem to be writing about every other day on this site), The GV60 is an upmarket version of Hyundai’s IONIQ 5 and Kia’s EV6.
The Genesis GV60 exterior. Images: Genesis
Genesis has released official images of the new GV60 all electric crossover today, less than a week after we caught a prototype testing in Sydney, Australia. Based on Hyundai Motor Group’s E-GMP platform (which we seem to be writing about every other day on this site), The GV60 is an upmarket version of Hyundai’s IONIQ 5 and Kia’s EV6.
Exterior Styling of the GV60
Let’s start on the outside of the GV60, because the design language is quite radical. Sure, there’s the double-slit head and tail lamps that are familiar visual cues from other Genesis models, but the GV60 looks nothing like other vehicles from the brand’s range.
Certainly less brute-ish and more futuristic than the GV70 and GV90 petrol SUVs, the GV60 echoes the Kia EV6’s “sporty crossover coupe” design language, with a sloping clamshell hood, long wheelbase, and high, raked rear end.
A frontal grille-like area dominates the nose of the GV60, however the majority of the blacked-out structure is closed off for improved aerodynamics. A coloured ring defines the front, dividing the black grille into two portions, the lower of which mimics the shape of a modern aircraft’s wings, complete with winglets.
Contrasting arches and lower mouldings define the lower structure of the GV60, and give that off-road appearance, though we expect the higher specification models to feature body-coloured paintwork on these trim pieces.
This Genesis GV60 Prototype features the same 21” alloy wheels as the vehicle in the press photos.
The glasshouse area is very similar to Kia’s EV6 in our minds, but the sharp wedge in the C-pillar is an attention grabbing design element. The large rear-glass area, ducktail spoiler with integrated LED brake light, and squared-off rear remind us of a cross between Mercedes-Benz’s GLE Coupe, and a Baja Beetle (call us crazy!)
The wheels on the GV60 in the media release are the same 21” design as fitted to the prototype we spotted last week.
Genesis presents its next generation of interior luxury
While the lime green exterior/blue interior may not be to everybody’s tastes, there’s an undeniable luxury to the interior of the GV60. Again there’s a familiarity here from Kia and Hyundai’s siblings - the dual-screen setup, the placement of important switchgear, and the floating centre console, but Genesis has clearly overhauled the interior architecture to suit its market positioning.
Firstly, there’s the digital side mirrors that we’ve seen from Korean and European market Hyundai IONIQ 5s, which almost certainly won’t make it to the USA or Australia just yet. The seats appear to be a high-grade nappa leather (we hope to see an animal-free interior option too), and there’s leather or fake leather with contrasting stitching adorning the dash, armrests, and upper door cards. The climate control setup receives a larger screen the the IONIQ 5, and pleasingly, there are a number of physical buttons present. The same goes for the steering wheel; Genesis has opted for actual buttons, rather than touch-sensitive items. There’s a drive mode button and boost button, likely to provide an additional hit of torque for a limited period, similar to Porsche’s Taycan.
The GV60 features an interior with lots of pleasing details.
All the switchgear is metallic, or at least in a metallic finish, and the textured knurling on these elements is a lovely, tactile touch that evokes a Bentley’s interior. In fact, call us crazy, but Genesis appears to be aiming to create an interior that offers a lot of similarities to something coming out of Crewe, at a much more pocket friendly pricepoint.
The IONIQ 5’s storage drawer remains, and there’s a floating centre console, which appears to be fixed. This design still allows for plenty of storage, and a flat passenger footwell. Atop the console is a wireless charging pad, media controller, and Genesis’ “Crystal Sphere” Shift By Wire drive controller. Genesis states that this controller becomes the vehicle’s mood lights before the GV60 is started, creating a pleasing interior atmosphere, and a little bit of theatre as the orb rotates and glows prior to powering on.
Digital side mirriors will likely be unavailable on the GV60 outside Korea and Europe.
Drivetrain of the GV60
While Genesis has yet to publish drivetrain information, as stated in our previous article, we know that the company has had three variants certified under Korea’s Noise and Emissions Certification process.
GV60 base model: 169 kW (226 hp)
GV60 all-wheel-drive long-range model: 242 kW (325 hp)
GV60 all-wheel-drive high specification model: 325 kW (436 hp)
At this stage, it’s unclear which models are destined for foreign markets, but we’re certainly excited to finally see the GV60 uncovered in any case. While the design may not be to everyone’s tastes, We’ll have to wait until images of different colours and specification grades are made available, before passing judgement. Hopefully we’ll be able to catch a look at a pre-production version later this year, before the crossover goes on sale sometime in 2022.
Austrian health company Biogena takes delivery of Mini Electric fleet
Health Company Biogena has taken delivery of 82 Mini Cooper SE Electric vehicles, as it pursues a strategy of sustainability, which includes eco-packaging, reforestation, and environmental protection.
Biogena’s new 82-strong Mini Cooper SE fleet. Images: Supplied
Health Company Biogena, an Austrian micronutrient company, has taken delivery of 82 Mini Cooper SE Electric vehicles, as it pursues a strategy of sustainability, which includes eco-packaging, reforestation, and environmental protection.
Despite giving every employee the opportunity to order a petrol-variant Mini Cooper SE through a company lease early in 2021, Biogena has now pivoted to the zero-emissions model, and according to Managing Director Julia Ganglbauer, "The pulsating performance of the E-MINI is a perfect match for the passionate spirit of the Biogena team".
Austria —as a member-state of the European Union— adheres to strict environmental and emissions standards, and as such offers attractive incentives for private and corporate battery electric vehicle (BEV) buyers. Under the present scheme, Biogena would be eligible for an in-kind benefit of 0% tax for the private usage of company cars, as well as a VAT exemption.
There are also plans to introduce new policies in Austria that will accelerate EV uptake, including a plan to allow anyone with an electric vehicle to drive 130 km/h on the IG-L-Hunderter highways, which normally allow for a 100 km/h speed. This covers a total area of 440 km of roads. Lane privileges will also be granted for EV drivers, and they will be allowed to use bus lanes on public roads, and free parking will be introduced in urban areas.
The Mini Cooper SE is the brand’s first fully electric model and has sold over 30,000 units worldwide since 2020. With a drivetrain carried over from BMW’s revolutionary i3, it offers a 184 PS (135 kW) motor and a 32.6 kWh battery.
"LCID" to begin NASDAQ trading on Monday, after Lucid Motors and Churchill Capital pass SPAC merger
After a rocky start to its shareholder vote last Thursday, NASDAQ reports that the SPAC deal between Lucid Motors and Churchill Capital IV successfully passed on Friday last week.
The Lucid Air promises performance, style, and exceptional quality, but can it beat Tesla at its own game? Image: Lucid
After a rocky start to its shareholder vote last Thursday, where the company failed to receive enough votes from retail investors to approve its merger with Churchill Capital IV, NASDAQ reports that the deal successfully went through on Friday, after Churchill Capital IV and Lucid extended the deadline for shareholders to vote, and executives pleaded with investors to vote in favor of all proposals in order to cross the finish line.
NASDAQ reports that some investors saw the move as highly dilutive based on misinterpretations of Lucid’s regulatory filings, which details a 2.61 exchange ratio of Churchill Capital IV shares to Lucid stock. This high exchange ratio is not actually relevant to the SPAC's public investors, who incorrectly feared that excessive dilution could adversely impact the value of the investment. Lucid will receive approximately $4.4 billion (after transaction expenses) in cash from the SPAC merger.
"Lucid has further increased its momentum as we gear up to make the first customer deliveries of our Lucid Air lineup of electric sedans later this year," Lucid CEO Peter Rawlinson said in a statement. "We are making significant investments in the long-term growth and innovation of our company, and we will continue to bring to bear world-class technology to positively impact mankind's transition to sustainable mobility."
Lucid recently opened its NYC design studio in the Meatpacking District. Image: Lucid
Auto manufacturing is an expensive business, and even more so for a startup like Lucid that doesn’t have a bank account the size of Volkswagen’s or General Motors’ to throw at electromobility. This Special Purpose Acquisition Company (SPAC) trend on Wall Street has been taking off in the automotive sector, with companies like Fisker and Nikola also receiving an injection of funds through the SPAC investment process. Essentially a shell company, a SPAC is set up for the sole purpose of raising capital to acquire another company. Generally, a SPAC’s only asset is the money raised in its own IPO.
Lucid’s first EV, the Air, is currently undergoing final testing and development, and the company plans to officially commence customer deliveries “in the second half of 2021”. CEO Peter Rawlinson has already delayed deliveries from (northern hemisphere) Spring this year, citing the COVID-19 pandemic as an impediment to that target date. The Air is a luxurious, Mercedes-Benz S-Class rival, initially launching in the highest specification, with 500 miles (805 km) of range and over 1,000 hp (745 kW). More affordable variants will be launched in due course, as rivals to Tesla’s Model S, BMW’s i4 Gran Coupe, and the Mercedes-Benz EQE. Pricing for the Lucid Air in the United States is as follows:
Air Dream Edition - $169,000
Air Grand Touring - $139,000
Air Touring - $95,000
Air Pure - $77,400
Source: NASDAQ
Polestar Australia confirms Australian management team, ahead of November Polestar 2 launch
Polestar is only 4 months away from the launch of its brand in Australia, and the market introduction of the Polestar 2 sedan. The Swedish electric-only automaker founded by Geely Holding and Volvo Cars has today announced further additions to its senior management team, after recently naming Australian-born Samantha Johnson — formerly of Volvo Cars Australia — as its managing director.
The Polestar 2 sedan. International model shown. Images: Polestar
Polestar is only 4 months away from the launch of its brand in Australia, and the market introduction of the Polestar 2 sedan. The Swedish electric-only automaker founded by Geely Holding and Volvo Cars has today announced further additions to its senior management team, after recently naming Australian-born Samantha Johnson — formerly of Volvo Cars Australia — as its managing director.
The new appointments are as follows:
Jeremy Goh - Head of Commercial. A senior leader of almost two decades in the automotive industry, Jeremy has worked in sales, network, and supply chain management roles in competitive and dynamic markets including China, Singapore, Hong Kong and Australia. Jeremy joins Polestar from Nissan Motor Co. Australia where he was the lead for Residual Value Management & Certified Pre-Owned Vehicles at Nissan, and General Manager, National Sales & Dealer Network Development for Infiniti. Prior to joining the Nissan Alliance, Jeremy held various roles within DaimlerChrysler / Fiat Chrysler Automobiles for 13 years. In his capacity as Head of Commercial Operations for Polestar, Jeremy will oversee sales, customer care, supply chain logistics, service network operations and technical support.
Paul Jowett - Head of Business Development. For the past 18 years, Paul has worked in senior management roles across a number of leading technology brands in Australia including Apple, Samsung, and Vodafone. Paul joins Polestar from Huawei where he was Director of Marketing for the retail team in the consumer electronics division. The Head of Business Development role will encompass Polestar’s operator network, retail, charging solutions, financial services, digital commerce and pricing.
Jonathan Williams – Head of Marketing. Jonathan is a creative marketer with a passion for disruptive technology as his experience can attest. Jonathan spent four years driving growth for PayPal, followed by seven years at Google where he led key product launches for Google Ads, Google Maps and Android Pay. He joins Polestar from tech start-up KLOOK, the most funded travel booking platform in history, where he held the role of Marketing Director – ANZ.
Commenting on the appointments, Ms. Johnson said “I am delighted to announce the Australian management team for Polestar, which brings the right mix of automotive know-how and a progressive, start-up mindset to the brand.
“The team will be instrumental in overseeing the launch of Polestar and the all-electric Polestar 2 to Australian audiences from November 2021, while playing a central role in achieving our ambitious growth plans for 2022.”
Although under the umbrella of conglomerate Geely-Volvo, Polestar is ostensibly a new startup, building its Australian staff, presence, and brand image from scratch. As we mentioned in previous coverage of the brand, Polestar’s vehicles will rely heavily on an online sales platform, complemented by physical showroom locations known as “Spaces”, to be located in heavily-trafficked central business districts. It’s not yet known whether Polestar plans to offer stand-alone service facilities, piggyback off Volvo’s Australian network, or servicing to customers’ homes and workplaces like Tesla.
Featuring a dual-motor all-wheel-drive setup with a 78 kWh battery, the Polestar 2 is based on the group’s Compact Modular Architecture platform, which underpins the Volvo XC40 Recharge and C40, as well as a number of Geely and Lynk & Co vehicles. The car has already received many accolades globally, holding the crowns for German Car of the Year 2021 and Top Gear’s Best All-Round EV.
With unique styling, a spacious interior, great performance, and the only fully integrated Android Automotive in-car OS, the Polestar 2 is one of our most anticipated EVs for 2021. We’ll keep you updated on any Polestar news down under as it happens.
New South Wales announces $490 million EV incentive and support package in 2021 budget
The slow cascade of reform and incentives to adapt to a future of e-mobility has hit New South Wales, as the government announces a $490 million package to boost battery electric vehicle (BEV) uptake in the state.
The slow cascade of reform and incentives to adapt to a future of e-mobility has hit New South Wales, as the government announces a $490 million package to boost battery electric vehicle (BEV) uptake in the state.
Electric vehicle reform is often a battle of ideologies and ministerial power; state treasurers see potential sources of revenue whilst environment and transport ministers see community, environmental, and social benefits.
With Victoria’s rush to implement a user charge on electric vehicle owners receiving wide condemnation, NSW has taken a considered approach to state reform in this area. While not as generous as incentives implemented by the government of the Australian Capital Territory, NSW is heading in the right direction, and this announcement has received wide acclaim from industry groups like Federal Chamber of Automotive Industries (FCAI), manufacturers such as Nissan Australia and Hyundai Motor Company Australia, and community groups like Solar Citizens.
The $490 million package aims to cut the upfront costs of electric vehicles for early adopters from September 1 this year, with a $3,000 rebate available for just the first 25,000 purchases below $68,750. The following vehicles currently on the market in Australia would be eligible for this rebate:
L to R: NSW treasurer Dominic Perrottet, EV Council CEO Behyad Jafari, NRMA CEO Rohan Lund, NSW Environment minister Matt Kean and NSW transport minister Andrew Constance. Image: Andrew Constance via Twitter
BMW i3
Hyundai Ioniq range
Hyundai Kona Electric range
Kia Niro range
Maxda MX-30 E35 Astina
Mini Electric
MG ZS EV
Nissan Leaf Range
Tesla Model 3 Standard Range Plus
Stamp duty on BEVs and hydrogen vehicles will be waived from September 1 this year, provided the vehicle retails for less than $78,000. Duty in the state is calculated at a rate of 3 per cent on the vehicle’s value (excluding registration and compulsory third party insurance, but including Goods and Services Tax (GST) and Luxury Car Tax (LCT)) and an additional 5 per cent on every dollar about $45,000.
These incentives will be offset by a 2.5c/kilometre charge set to be introduced in 2027, or when EV sales in the state make up 30% of total sales, whichever comes first.
As an example, if you were looking to buy a Kia Niro EV that had a retail price of $66,000 inclusive of options and federal taxes, the state stamp duty cost would be $2,400. Instead, the government is reducing the price to $63,000 for those first 25,000 takers.
If you purchase a $66,000 BEV once the c/km charge comes in in 2027 —assuming stamp duty rates remain the same— you would be saving $2,400 in duty payable to the state.
Unfortunately, this unfairly targets consumers in regional areas or those who are pushed to the urban fringe of Sydney, who are forced to drive long distances due to limited transport options. A 2.5c/km charge wouldn’t concern an inner-city driver who might cover ten-to-twenty kilometres a day and certainly wouldn’t push that driver into public transport options.
It would disadvantage many of the state’s residents who have no option but to drive hundreds of kilometres a week; a commuter who travels 30,000 kilometres a year would eradicate any stamp duty saving on that $66,000 vehicle above in just three and a quarter years, paying $750 in EV tax annually.
The NSW government also announced that its own vehicle fleet would be fully electrified by 2030, and is putting $33 million toward that goal.
NSW transport minister Andrew Constance is hopeful that an increase in electrification of vehicles in NSW will reduce the state’s emissions, saying “Our transport sector currently makes up 20 per cent of the state’s emissions, with almost 50 per cent of those coming from passenger vehicles,” Constance said. “Electric vehicles are not only cheaper to run and quieter on our roads, but they also reduce both carbon emissions and air pollution which results in dramatically improved health outcomes for our communities.”
There’s also $171 million to establish a network of ultra-rapid vehicle chargers across the state’s major highways, that aims to replicate Queensland’s Electric Super Highway, $20 million in grants to assist key tourist sites rolling out destination charging facilities, and $20 million for charging infrastructure at public transport hubs and depots.
The government has an ambitious target to ensure Sydney residents are no more than 5km from a rapid charging site, and that regional residents are within 100km of rapid charging facilities. Buried deep in the press release were these maps, and it looks like the government intends to provide pretty broad coverage across all areas of NSW.
The NSW government has announced that most of the state will be covered by DC rapid charging sites, with communities to be no more than 100km from a charger.
Sydney residents are promised a rapid charging network that will likely roll out at key sites around the city’s orbital motorway system, with charge points to be located within 5 minutes drive of all residents.
NSW is set to roll out a network of rapid EV charging sites across the state’s highways and freeways.
According to The Driven, NSW energy minister Matt Kean said the new policies should put the state on track to see an electrification rate of 50 per cent of new car sales.
“Countries and carmakers around the world are moving to EVs and NSW consumers deserve access to the latest vehicle models when they go to buy a car,” Kean said. “We also know that, with new cars staying on the road 15 years on average, the vast majority of new cars sold in NSW need to be EVs by 2035 to achieve net zero emissions by 2050.”
“Our aim is to increase EV sales to more than 50 per cent of new cars sold in NSW by 2030 and for EVs to be the vast majority of new cars sold in the State by 2035.”
“This nation-leading plan will help us achieve these objectives by tackling the three biggest barriers to purchasing an EV – range anxiety, upfront cost, and model availability – and is forecast to see EV new car sales hit 52 per cent by 2030-31. We want new and cheaper models of EVs to be available here in NSW and this strategy is designed to drive that outcome,” Kean added.
The above initiatives are certainly welcome, and with around 400,000 new car sales a year, NSW holds the crown for the largest passenger car market. Any uptake in electrification will certainly assist in emissions reduction.
Kia’s Niro EV will benefit from zero stamp duty under the NSW government’s new EV scheme.
There are a number of policy changes that we would have liked to see alongside the EV incentives:
Interest-free loans for EVs and household batteries and solar (as per the ACT)
A charge on internal combustion engine vehicles, either at the point of sale or on a cents-per-kilometre basis factoring in weight and emissions
Low Emissions Zones (LEZs) established in congested areas such as Sydney’s central business district (CBD), the Parramatta CBD, and in the soon-to-be-built third Sydney basin city of Bradfield;
Concessions for those outside dense metro areas
We believe that along with the carrot approach, a little bit of stick is needed to accelerate the change to EVs. As New Zealand recently demonstrated, EV subsidies should work hand in hand with appropriate levies on polluting internal combustion vehicles. a Ford Ranger or Toyota Hilux will incur an additional $NZ2,900 fee under the country’s new scheme.
NSW’s scheme also penalises those who have no choice but to drive more; a 2.5c/km charge won’t impact an inner-city Sydney resident who might drive 5-6km per day (and certainly won’t be a push factor into public transport), whereas it would have a large impact on regional residents or those on to the city’s fringe who are forced to commute 50, 80 or 100+ kilometres per day by car, and don’t have alternative transport options.
The scheme should take this into account, and we believe emissions zones would be another great addition. By designating certain dense city areas a LEZ, The state can generate additional revenue, dissuade polluting trucks and ICE cars from entering central city areas at peak times, and improve public health outcomes for commuters and residents.
The state’s Premier, Gladys Berejiklian has stated that the new city of Bradfield — currently in the early stages of master planning — will be Australia’s first 22nd Century City; if this is truly the case, the government should recognise any city from the future must be emissions-free. When a government has the rare opportunity to plan a dense metropolitan area from scratch, it must think big, and it must think zero-emissions.
All in all, this is a welcome announcement from the NSW government, and with rebates and stamp duty waivers set to commence from September 2021, we may see a sharp increase in EV sales in the latter part of this year.
Hyundai Australia shows off locally registered Hyundai IONIQ 5 as former Prime Minster takes a spin
Hyundai Australia has shared a post on Linkedin with a locally registered Ioniq 5. We’ve covered this vehicle in an in-depth static review, but until now, the futuristic crossover hasn’t been seen on public roads without camouflage.
Hyundai Australia has shared a post on Linkedin with a locally registered Ioniq 5. We’ve covered this vehicle in an in-depth static review, but until now, the futuristic crossover hasn’t been seen on public roads without camouflage.
Former Prime Minister Malcolm Turnbull AC met with Scott Nargar and Jun Heo from Hyundai Australia and drove the IONIQ 5 before its scheduled market introduction later this year.
We initially got very excited at the prospect of production-ready IONIQ 5’s on our shores, but It appears that this is a pre-production version that has been registered. Checking with the state roads authority, an online registration check confirms that “there is a registration restriction on this vehicle that will prevent registration transations”, and that “This registration is not transferable”.
The online search also goes on to state “no compliance plate - registration to terminate on 16-09-21” indicating that this is a vehicle in Australia for engineering purposes that will either be sent back to South Korea, or possibly used for crash testing.
We’ve covered the IONIQ 5 extensively, and it’s one of our most anticipated EV releases this year. This futuristic EV features delightfully retro styling, a spacious and flexible interior, and smart technology. There’s 800 volt charging, vehicle-to-load capabilities, and 58 and 72 kWh options.
The IONIQ 5 is scheduled to debut in Australia during the third quarter of this year.
St Baker Energy Fund to invest $20 million in TrueGreen Mobility ahead of introduction of $35k BYD EA1 and T3
This week, Australia’s e-mobility focused TrueGreen group announced that the St Baker Energy Innovation Fund (StBEIF) will be injecting $20 million into its business, as the company looks to roll out two BYD electric passenger and commercial vehicles in Australia later this year from $35,000.
L to R: Trevor St Baker, StBEIF CEO Rodger Whitby, and TrueGreen Mobility CEO Luke Todd. Image: TrueGreen Group
This week, Australia’s e-mobility focused TrueGreen Group announced that the St Baker Energy Innovation Fund (StBEIF) will be injecting $20 million into its business, as the company looks to roll out two BYD electric vehicles in Australia later this year from $35,000.
The BYD T3 commercial van will lead the charge, offering a 50 kWh battery with 300 km (186 mile) range. The compact BYD EA1 — recently unveiled at the Shanghai Auto Show — will follow later in 2021, and will offer customers a 500km range .
Luke Todd, TrueGreen Mobility chief executive said there was “pent-up demand” from businesses for electric transport and that TrueGreen Mobility expected to sell thousands of small vans nationally.
Speaking with The Driven, he stated “With our products, electric vehicles have now reached price parity with combustion engines, so a switch to EVs makes perfect economic, commercial, environmental and moral sense.”
Rodger Whitby, CEO of the StBEIF, said the $20 million financial injection was a “relatively small token of collaboration” and that the fund would spend tens or hundreds of millions of dollars expanding Evie Networks’ public charging sites according to the Australian Financial Review.
A little history. If you don’t know the name Trevor St Baker, you probably should. An expert in electricity utility planning in Australia in the 1960s and 1970s, he ultimately went on to found a number of private power development companies, with investment in Australia, South East Asia, and the United States.
Mr. St Baker is pro-nuclear and coal power, and has publically criticised the idea that renewables can provide baseload power while advocating for coal power stations to delay their closure.
Nexport’s $35,000 BYD T3 van. Image: Nexport Australia
In 2013, he formed the StBEIF, of which the primary purpose was to invest in energy start-up businesses, and that’s where Tritium — an EV charging hardware company you may have heard of — comes in.
The StBEIF is focused on investing in electric vehicles, despite its history in the oil and gas sectors. Speaking to the Sydney Morning Herald, Mr. St Baker said “People are marching in the street for decarbonising and net-zero emissions and they’re really serious about it,” he said. “Decarbonising and electrifying the transport sector is an absolutely essential part of that.”
Trevor St Baker, Luke Todd, and Rodger Whitby with a BYD T3 electric van. Image: TrueGreen Group
The StBEIF’s $40 million ($31.051 million USD) investment in Tritium paid off, with the Australian-based company set to list on the NASDAQ through special purpose acquisition company (SPAC) Decarbonisation Plus Acquisition Corporation II, itself owned by asset management firm Riverstone Holdings. The enterprise value is expected to be $2.2 billion ($1.708 billion USD).
The StBEIF will also assume a seat on the board of TrueGreen Group. The fund also backs Australian high-speed EV charging company Evie Networks.
Chinese Automaker NIO plans to sell electric vehicles in Europe from 2022: First stop Norway
Chinese premium electric vehicle manufacturer NIO has announced that it is rolling out the brand to European customers, starting with Norway. From 2022, Norwegian customers will have access to NIO’s high-speed Supercharger network, the NIO Power Swap technology and NIO House incorporating the brand experience with servicing facilities.
NIO announces expansion into Norway with ES8 SUV
In a smooth Silicon Valley-esque online launch, Chinese premium electric vehicle manufacturer NIO has announced that it is rolling out the brand to European customers, starting with Norway. From 2022, Norwegian customers will have access to NIO’s high-speed Supercharger network, the NIO Power Swap technology and NIO House incorporating the brand experience with servicing facilities.
The flagship ES8 SUV will be the first vehicle available to Norwegian customers, with deliveries commencing in September this year. Offering a WLTP range of 500km from its 100 kWh battery, the full-size SUV sports dual motors, with 405 kW (540 PS) and 725 Nm (535 lb ft). Orders open for the ES8 in July 2021.
A concept rendering of NIO’s planned European service centers. Image: NIO
NIO’s ET7 sedan. Image: NIO
NIO House and Battery Charging
NIO has commenced construction on its ‘NIO House’, dubbed the meeting place for NIO users. NIO has already hired its core team of local experts, and the 2000 square metre NIO House in the centre of Oslo is designed as a brand showcase and service centre. NIO plans four additional facilities in 2022, in Bergen, Stavanger, Trondheim and Kristansand.
In addition, NIO intends to bring its Power Swap technology to Europe, which enables vehicle batteries to be exchanged at automated facilities within three minutes. The company claims four battery swap stations will be operational before the close of 2021. It’s unclear if NIO will introduce its Battery as a Service plan to European customers; currently, owners in China are able to pay a reduced upfront cost for their vehicle, but leasing the battery as a separate package.
NIO will also be rolling out its own Supercharger network at busy sites along popular routes, and will bring an AC home charging solution to market for European customers in 2022.
2022 will bring the NIO to five additional European markets, and will also see the launch of the ET7 sedan later in the year.
Watch the replay of the press conference below.
Tesla posts record net income, revenue up 73%, record net profit of $438 million
Tesla has had a stellar first quarter of 2021, beating earnings expectations from Wall Street analysts. The automaker posted US$10.389 billion in revenue, up 73 percent YoY from $5.985 billion in Q1 2020, and just behind the figure of $10.744 billion for Q4 2020 as well as non-GAAP earnings per share of $0.93.
Tesla’s Model X and Model S are set for a refresh in 2021. Image: Tesla Motors
Tesla has had a stellar first quarter of 2021, beating earnings expectations from Wall Street analysts. The automaker posted US$10.389 billion in revenue, up 73 percent YoY from $5.985 billion in Q1 2020, and just behind the figure of $10.744 billion for Q4 2020, and the company also announced non-GAAP earnings per share of $0.93.
GAAP earnings are used to standardise financial reporting of large, publicly-traded companies, and non-GAAP earnings constitute items like large asset write-downs, one-time transactions or company restructuring costs.
Tesla reported record net profit of $438 million for the seasonally slow quarter (GAAP), as well as sales of regulatory credits to the tune of $518 million. Operating income came in at $594 million, resulting in a 5.7% net operating profit.
According to the company, quarter-end cash and cash equivalents decreased to $17.1B—still a huge pile of cash—in Q1, “driven mainly by a net cash outflow of $1.2B in cryptocurrency (Bitcoin) purchases, net debt and finance lease repayments of $1.2B, partially offset by free cash flow of $293M.”
Tesla has been growing its vehicle sales to the tune of 100% YoY, and according to Elon Musk, the Model Y SUV is likely to become the best selling vehicle on the planet within the next few years. Tesla investor David Lee has some interesting figures should the automaker manage to achieve 500,000 deliveries a quarter, demonstrating that this could potentially net Tesla $22.5 billion in revenue, and $5.6 billion in gross profit.
Tesla will obviously have a lot of expenses over the next few years; the completion of Gigafactories in Berlin and Texas, scaling up production of its new 4680 cells to deal with the incredible demand for batteries and rolling out more Supercharging sites, service and sales centers and mobile technicians to name a few. We have full confidence in Tesla; partly due to its year over year profit and increasing sales volume, but also due to the untapped potential of its energy business.
Tesla has the ability to make Tesla Energy almost as big as its automotive business in our view. The company deployed 92 MW of solar in Q1, up 163% from 35 MW in Q1 2020. It also deployed 445 mWh of energy storage, up 71% from 260 mWh in Q1 2020.
Tesla’s financial summary for Q1 2021. Source: Tesla
Tesla’s operational summary for Q1 2021.
Source: Tesla Motors
![Xpeng P5 EV set for April 14 reveal; company posts all time quarterly sales record for 2021 [UPDATED]](https://images.squarespace-cdn.com/content/v1/5237a580e4b09510ca448d5e/1617864573620-OW94O0V3EMOMDV212S2D/Xpeng-P7.jpg)
Xpeng P5 EV set for April 14 reveal; company posts all time quarterly sales record for 2021 [UPDATED]
Chinese electric vehicle manufacturer Xpeng (also known as XMotors.ai and Xiaopeng Motors) will reveal their P5 mid-size electric sedan online on April 14 at 2pm ET/8pm CET/4am 15/4 AEST prior to the media and public reveal at the Shanghai Auto Fair.
Xpeng’s upcoming P5 sedan
[Updated]: Chinese electric vehicle manufacturer Xpeng (also known as XMotors.ai and Xiaopeng Motors) will reveal their P5 mid-size electric sedan online on April 14 at 2pm ET/8pm CET/4am 15/4 AEST prior to the media and public reveal at the Shanghai Auto Fair. This follows the recent sighting of camouflaged prototypes undergoing final development testing on the streets of China, and the following teaser image from XPeng:
XPeng’s Chairman He Xiaopeng has hinted in previous discussions with Chinese media that the P5 will be the first production vehicle with Lidar technology — now confirmed in the above tweet — and that the P5 will be equivalent in size roughly to the Toyota Camry and Honda Accord (and obviously, Tesla’s Model 3)
The P5 carries the company’s contemporary styling cues, and appears to offer two driver displays in the interior. The vehicle architecture is shared with the company’s G3 crossover, and customer deliveries are expected to commence towards the end of 2021.
XPeng’s P5 undisguised. Credit: reddit.com/wyboongk
XPeng posts best ever monthly and quarterly sales results
Admittedly, XPeng’s 2020 sales didn’t hit expectations due to a number of factors—only 6 months of P7 sedan sales as well as the COVID-19 pandemic—but the company has posted strong numbers for this year, with 13,340 sales from January to March 2021, versus 1,419 for the previous period in 2020. The company sold 7,974 P7 sedans, and 5,366 G3 SUVs, and also surpassed a cumulative total of 50,000 vehicles.
According to XPeng, "The Company attributed the record quarterly deliveries to its growing brand recognition and product appeal, expanded product portfolio and its relentless efforts in broadening sales, marketing and supercharging service networks across China."
Xpeng is working hard to continue growing its sales as well as its brand in China, and faces stiff competition from BYD, NIO, upcoming Zhiji Auto and of course, Tesla. XPeng is growing its DC fast charging network across China, with over 935 sites across 139 cities available by the end of 2021. The company has also reached an agreement with NIO for customers of either brand to be able to share fast charging stations. In addition, Xpeng has brought in a lower-priced lithium iron phosphate (LFP) battery option from CATL, designed for city-based customers for whom a longer battery range is of limited value. Customers who opt for the LFP battery option can expect to save around RMB 20,000 ($3,000 US) per vehicle.
BYD achieves record new energy vehicle sales in China for Q1 2021, strong 2020 net profit
Chinese automaker BYD has had a strong sales start to 2021, with 53,380 passenger vehicle sales in the first quarter, comprising battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). That represents a 148 percent increase over the same period last year.
BYD achieves 148 percent increase in NEV sales for Q1 2021
Chinese automaker BYD has had a strong sales start to 2021, with 53,380 passenger vehicle sales in the first quarter, comprising battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). That represents a 148 percent increase over the same period last year, where 21,520 new energy vehicles were sold.
2020 sales were obviously heavily affected by the COVID-19 pandemic in China, but it’s important to see automakers in China returning to strong numbers, even in what is a traditionally quiet sales period after January’s pre-Chinese New Year sales rush.
March 2021 marks the seventh consecutive month of year-on-year growth for BYD’s new energy vehicle sales, and the company is continuing to innovate, with improvements to its in-house lithium iron phosphate (LFP) ‘Blade Battery’, including the claim of over 3,000 available charge cycles or 1.2 million kilometres from the new cells.
BYD’s revenue and profit soars in 2020
BYD has also posted annual revenue figures for 2020, and despite COVID-19, posted a revenue figure of 156.598 billion yuan ($23.87 billion USD). This represents an increase of 22.59 percent over 2019. Net profit attributable to shareholders also headed for the sky, with a 162.27 percent increase over 2019, to 4.234 billion yuan ($645.349 million USD).
All this despite the company’s 2020 output of new vehicles—including fossil fuel powered vehicles and commercial vehicles—declining 5.08% year over year:
BYD 2020 sales
Total new vehicle sales: 431,954 units (down 5.08%)
Total passenger vehicle sales: 394,608 units (down 3.62%)
Total new energy vehicle sales: 162,893 units (down 12.52%)
Total fossil fuel passenger vehicle sales: 231,715 units (up 3.81%)
Analysts have forecasted that BYD's net profit attributable to shareholders for the first quarter of 2021 is forecasted to reach 200 million to 300 million yuan ($30.482 million to $45.723 million USD), an increase of somewhere between 80 and 160 percent from the first quarter of 2020.
BYD is going from strength to strength, trouncing rivials NIO and Xpeng in sales volume (however both manufacturers also had strong first quarter results, despite lower volumes), and recently announcing a slew of new passenger vehicles for 2021 (which will exclusively use BYD’s in-house ‘blade battery’) and the expected unveiling of a new EV brand in the next few weeks.
The BYD Tang SUV interior. Image: BYD
Source: Gasgoo
