US Big Corporates Push for Zero Emissions Vehicle Regulations
With a President-elect pledging to take meaningful action on climate change, Corporate America stands ready to act and take advantage of pro-renewables and clean-tech policies. The Zero Emissions Transport Association (ZETA) is a new federal coalition “advocating for national policies that will enable 100% electric vehicle sales throughout the light-, medium-, and heavy-duty sectors by 2030."
With a President-elect pledging to take meaningful action on climate change, Corporate America stands ready to act and take advantage of pro-renewables and clean-tech policies. The Zero Emissions Transport Association (ZETA) is a new federal coalition “advocating for national policies that will enable 100% electric vehicle sales throughout the light-, medium-, and heavy-duty sectors by 2030."
Comprising some of America’s largest corporate entities ranging from Tesla and Rivian, through to Uber, conEdison and Duke Energy, ZETA wants to see the full adoption of electric vehicles to secure American global EV manufacturing leadership, and reduce carbon pollution and therefore, emissions.
Policy goals of ZETA include:
Expanded incentives, which means not only lifting the per-manufacturer cap on the $7,500 consumer tax credit, but also making it a "point of sale" rebate. Other goals include a program to incentivize trade-ins of fossil fuel-powered vehicles.
Federal emissions and efficiency performance standards that will send the "correct market signals" for faster electric vehicle deployment by the auto industry.
New federal infrastructure investments and support for domestic manufacturing, and support for local pro-electric vehicle policies.
According to Joe Britton, the Executive Director of ZETA, “Transportation is responsible for more carbon emissions than any other sector of the U.S. economy. By embracing EVs, federal policymakers can help drive innovation, create hundreds of thousands of new jobs, and improve air quality and public health.”
ZETA believes that consumer incentives drive adoption of new technology, and represent one real way to drive the shift to EVs in the US. Providing credits for older combustion engined vehicles will help to speed the transition, and will also boost domestic economic growth. ZETA hopes that a Biden administration would use policy mechanisms to encourage job creation in the EV manufacturing and supply chains. Biden has already stated that he wants the federal government to move towards a 100% clean energy fleet, and wants to work closely with state governors and mayors to roll-out 500,000 new public chaging stations by 2030.
Electric car sales are increasing in market share across the world, while conbustion-engined passenger car sales are slowing. This has been further exacerbated by the Covid-19 pandemic. The overall market share of plug-in vehicles is still relatively small however, comprising 326,000 or 2% of the total market in the US in 2019, 564,206 or 3.6% of the total market in Europe, and 1,180,000 or 6.8% of the market in China.
For more information visit https://www.zeta2030.org/
Source: Axios
Image: ZETA
Image: ZETA
Bentley Targets Sustainable Luxury; Announces Plan to Ditch Internal Combustion by 2030
November 2020 will be remembered as a watershed moment for Bentley Motors; one of the world’s oldest car makers with arguably one of the industry’s most storied histories has announced measures to electrify their new vehicle fleet by 2026.
Image: Bentley Motors
November 2020 will be remembered as a watershed moment for Bentley Motors; one of the world’s oldest car makers with arguably one of the industry’s most storied histories has announced measures to electrify their new vehicle fleet by 2026. Bentley Plans to offer only Battery Electric Vehicles (BEV) or Plug-In Hybrid Electric Vehicles (PHEV) by this date, eventually transitioning to a BEV only range by 2030.
Adrian Hallmark, Chairman and Chief Executive Officer of Bentley Motors, said: “Since 1919, Bentley has defined luxury grand touring. Being at the forefront of progress is part of our DNA - the original Bentley boys were pioneers and leaders. Now, as we look Beyond100, we will continue to lead by reinventing the company and becoming the world’s benchmark luxury car business.
“Driving this change includes, and also goes beyond our products, delivering a paradigm shift throughout our business, with credibility, authenticity, and integrity. Within a decade, Bentley will transform from a 100 year old luxury car company to a new, sustainable, wholly ethical role model for luxury.”
Bentley also plans to implement an end-to-end, business-wide sustainability program. The Crewe factory is already certified carbon neutral, and by the end of 2025, the company will have reduced its emissions, use of solvents and become plastic neutral, with the ultimate aim of a climate positive factory by 2030.
Source: Bentley Motors
Chinese EV Manufacturers' Stocks Surge, as Deliveries Increase in October
Strong EV sales for October in China have demonstrated promising signs that consumer confidence is returning to the domestic market, and has bolstered the stock prices of some of China’s electric vehicle manufacturers. As trading opened yesterday, investors pushed prices of Li Auto (makers of the hybrid range-extender Li Xiang One), NIO and XPeng up sharply from Friday’s close
Image: XPeng Motors
Strong EV sales for October in China have demonstrated promising signs that consumer confidence is returning to the domestic market, and have bolstered the stock prices of China’s major electric vehicle manufacturers. As trading opened yesterday, the prices of Li Auto (makers of the hybrid range-extender Li Xiang One), NIO and XPeng rose sharply from Friday’s close according to The Motley Fool.
Li Auto (NASDAQ:LI) was up approx. 13%
3,692 units delivered in October
21,852 units YTD
NIO (NYSE:NIO) was up approx. 10.9%.
5,055 units delivered in October (+100.1% YoY)
31,430 units YTD (+111.4% YoY)
XPeng (NYSE:XPEV) was up approx. 10.3%.
3,040 units delivered in October (+229% YoY)
17,117 units YTD (+64% YoY)
Nio exceeded 5,000 deliveries for the first time in October, and the company’s factory has a production capacity of 5,000 vehicles per month. This strong demand has seen Nio’s share price soar over 700% this year. For comparison, Tesla’s share price is up approx. 380% year-to-date.
While Tesla China’s sales for October have yet to be released, it’s expected that exports to Europe from the Chinese Gigafactory, the upcoming Model Y production ramp and news from Reuters that new energy vehicle sales will make up 20% of China’s market by 2025 will continue to boost Tesla’s share price after a late October dip.
Image: NIO
