by Jon LeSage, editor and publisher, Green Auto Market
Here’s my take on the 10 most significant and interesting occurrences during the past week…….
- The long-dragged-out biofuels standards may be coming to a conclusion. The US Environmental Protection Agency (EPA) said it will propose draft biofuels targets for 2015 by June 1 as part of a lawsuit settlement with oil industry trade groups. The American Petroleum Institute and the American Fuel and Petrochemical Manufacturers had filed a lawsuit stating that EPA delays in setting renewable fuel use requirements have led to uncertainty and volatility in biofuel markets; oil trade groups are tired of dealing with market volatility of Renewable Identification Number (RIN) credit prices, which is part of the Renewable Fuel Standard rules requiring that fuel refiners mix a certain volume of ethanol into gasoline and biodiesel into diesel each year. The EPA has been dragging out defining the rules that it will set for biofuel volumes. Its decision in late 2013 to reduce the ethanol mandate and maintaining the biodiesel mandate led to a wave of public outcry by biofuels producers and anger by oil industry trade groups over the instability and whether the EPA would reduce the biofuels targets.
- Tesla Motors continues grabbing our attention. Last fall, it was the Tesla Model S P85D with “P” standing for performance; now, there’s the Model S 70D with more power, longer range per charge, and price tag with $5,000 added. The 70D is an all-wheel-drive Model S with a 70-kilowatt-hour battery pack, with 240 miles of range and priced at $75,000 before incentives; and it gets 514 horsepower (hp) to all four wheels from two electric motors. That compares with 208 miles on a charge and 380 hp on the base model rear-drive Model S. As for the “D” in Model S 70D, that stands for dual motor, which will be standard.
- Henrik Fisker is dropping the Thunderbolt supercar. Former Fisker Automotive co-founder, and previous Aston Martin design director, Henrik Fisker, has settled a lawsuit by Aston Martin against plans to produce the $400,000 Thunderbolt. Fisker claimed it was based on the current Aston Martin Vanquish, a V-12 powered supercar that was to have been modified with custom styling and cosmetic features. Aston Martin says it was too close to the iconic sports car featured in James Bond movies and infringed on Aston Martin’s intellectual property rights. Fisker had shown off the Thunderbolt at the Amelia Island Coucours d’ Elegance car show last month, and said it would be marketed through the Galpin Aston Martin dealership in California.
- ClipperCreek releases cost-competitive charging station. ClipperCreek announced availability of its popular LCS-20 EV charging station with a plug, previously available only as a hardwired unit. ClipperCreek released the LCS-20P Level 2 EV Charging Stations now starting at $379 hardwired and $395 with four plug options, the four most common residential 240V supply power plugs.
- Elio Motors CEO Paul Elio still needs a few more investors. Elio just spoke at the New York Auto Show and said that to meet the $230 million to begin production of its two-seat, three-wheel fuel efficient vehicle is still falling short – the company needs another $165 million to get these cars on the road. Elio thinks that the $6,800, 84 mpg vehicle is ideal for cost-conscious fleets and consumers. A big question will be whether Elio Motors will be able to qualify for a low-interest loan through the US Dept. of Energy’s Advanced Technology Vehicle Manufacturing program that will be re-launched soon.
- Rethink Methane Symposium coming up. Gladstein, Neadross & Associates (which puts on ACT Expo) is launching the inaugural Rethink Methane Symposium on June 9-10 in Sacramento, Calif. It’s focused on helping stakeholders understand how renewable methane from biological and synthetic sources can help California meet its climate protection and air quality improvement goals. Featured speakers will be Hector De La Torre of the California Air Resources Board, Peter Lehner of the Natural Resources Defense Council, Julia Levin of the Bioenergy Association of California, and Alan Lloyd, president emeritus of the International Council on Clean Transportation.
- Massachusetts offering more EV rebates. Electric vehicles have been popular enough in Massachusetts to use up the initial $2 million incentive funding. Now Governor Charlie Baker has allocated an additional $2 million to the state’s Mor-EV rebate program. Mor-EV, which stands for Massachusetts Offers Rebates for Electric Vehicles, provides up to $2,500 to state residents who buy or lease electric vehicles.
- BMW wants to double plug-in sales. BMW would like to double sales of its i3 electric and i8 plug-in hybrid models this calendar year. The BMW i3 had 6,092 in sales from its launch in May of last year through December; the German automaker would like to double that to 12,000 units sold of its i3 battery electric and i3 REX range-extended small hatchbacks by the end of this year. The i8 was introduced in August and took in 555 in sales last year; that number is intended to be 1,000 this year. BMW is happy to see strong demand for both models, said BMW North America CEO Ludwig Willisch.
- GM prepping for redesigned Volt. General Motors says it will stop production of its 2015 Chevrolet Volt in May to reduce US stockpiles and to prepare for the highly anticipated 2016 Volt plug-in hybrid. Production of the redesigned 2016 Volt is expected to start late this summer. The suspension comes from lower-than-expected sales, factory renovations and engineering changes, the company said. Volt sales had dropped 19% to 18,805 units in 2014, and 48% in the first quarter of this year to 1,874 units. In other news, GM is thinking about spending $1 billion to renovate its Tech Center campus in Warren, Mich. GM has asked the city for tax breaks on the project. The Tech Center has been the hub of many projects since the 1950s including hosting a battery lab for electric-drive vehicles like the Volt.
- Kevin Wood, project manager for clean transportation, at Center for Sustainable Energy, sees the plug-in and fuel cell vehicle markets taking off right now. They have a proven track record in fleets. While they don’t meet the needs in every duty cycle yet, in passenger vehicles and sedans, there’s no reason to not be looking at these technologies. You can hear his perspective on these plug-ins and fuel cell vehicles, and other alternative fuel vehicles, in this Fleet Management Weekly video.
- Extra from this week’s Green Auto Market Extended Edition: How Hawaii has become a significant electric vehicle (EV) marketplace. EVs with strong incentives have their appeal in Hawaii – with destination charges and a higher price for gasoline than any other market in the US, EVs become as, or more, attractive with cost-conscious car shoppers living in the state. Hawaii ranks second in the US behind California in the number of electric vehicles registered in the state, according to figures recently release by the US Energy Information Administration. The adoption of electric vehicles is a key component in the state’s target of reaching of 70% in clean energy by the year 2030. Here’s more on how to subscribe to that weekly newsletter and read all about it, plus a section on clean transportation company publicly traded stocks – and resources to check out on following these stocks and market trends.