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Category: Electric Vehicles (EVs) (Page 2 of 6)
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Ingordigious » (17th Century) Adj. » Motivated primarily by greed.
Steve Stecklow and Norihiko Shirouzu, writing for Reuters »
About a decade ago, Tesla rigged the dashboard readouts in its electric cars to provide “rosy” projections of how far owners can drive before needing to recharge, a source told Reuters. The automaker last year became so inundated with driving-range complaints that it created a special team to cancel owners’ service appointments.
Fortune »
The company now includes seven-year loans as an option on its US order pages, after previously offering loans as long as 72 months. While extending loan terms can lower car buyers’ monthly payments, consumers tend to pay more in interest and face greater risk of owing more than their vehicle is worth.
Considering the estimated rate, taking out a loan on a Tesla for this extended period will not be a financially advantageous stratagem. The popular $50,490 Model Y Dual Motor AWD is an excellent example for the loan calculation.
If the buyer puts down Tesla’s preselected $4,500 initial payment, the financed amount would be $47,380. At 6.39% interest, the monthly loan payment will be $703, not considering any potential incentives. After 84 months, the owner will have paid $59,052 in monthly payments, plus the $4,500 paid initially.
In total, the vehicle will cost a staggering $63,552. This is the downside of high-interest, long-term loans on any car.
Designed in France by rolling stock manufacturer Alstom, the zero-emissions train runs on electricity produced by mixing hydrogen with oxygen, meaning that moisture its only waste product. Alstom said Europe has already placed an order for 41 hydrogen trains.
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Bloomberg »
It’s a scene that is steadily being replicated all over the Nordic country, offering a glimpse of what may be in store for drivers the world over in the years ahead.
When it comes to electric vehicles, Norway is very much a trailblazer. It has moved much more rapidly away from the internal combustion engine than its neighbors thanks to generous tax breaks and incentives, which made Tesla Inc.’s battery-powered Model Y cost competitive with a gasoline-burning Toyota Motor Corp. RAV4.
Most countries can’t afford to move quite as fast as wealthy Norway — the nation’s government estimates that various supports measures cost it some $1.8 billion annually in lost revenue. But the International Energy Agency says the rest of the world is going in the same direction, bringing peak oil demand before the end of the decade.
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