The electric vehicle revolution, with insights on Nissan’s £3bn UK investment, the U.S.’s record EV sales, the challenges of post-warranty costs and the robust growth in the EU car market.
Nissan’s EV Revolution in the UK
Nissan is propelling the UK towards an electric future with a groundbreaking £3bn investment in its EV36Zero hub in Sunderland. This move, enhancing the production of electric models like the Nissan Qashqai and LEAF, strengthens the UK supply chain and reinforces Nissan’s commitment to zero-emission vehicles.
All the models produced at its UK plant will be fully electric, and will now include three gigafactories, and an investment of up to £3bn. This initiative significantly boosts Nissan’s 7,000 UK employees and the 30,000 jobs in the UK supply chain.
The project encompasses electric versions of the flagship Nissan Qashqai and JUKE crossovers, and the next-generation Nissan LEAF.
The EV36Zero Microgrid, powered by renewable energy sources like wind and solar farms, will supply energy for both vehicle and battery manufacturing.
The UK government’s support, including a £15m investment for a collaborative R&D project, highlights the country’s commitment to fostering an innovative automotive sector and a greener economy. This investment strategy is set to trigger a total investment of around £3bn in the UK
and aims to bolster the chances of securing further UK-based R&D investments for future electric models.
Lotus’ Vision
Lotus is leading the charge in EV technology with a new suite of advanced charging solutions, including an ultra-fast 450 kW DC charger and a modular unit capable of charging four vehicles simultaneously. Targeting business applications, these chargers are poised to transform the efficiency of high-demand locations like motorway service stations.
In 2018, Lotus’ Vision80 strategy aimed to redefine itself from a British sports car manufacturer to a global all-electric luxury brand by 2028. Already making inroads in China, Lotus is expanding these offerings to Europe and the Middle East by the second quarter of 2024.
The launch of their electric hyper-SUV Eletre in 2022 and the recent introduction of Emeya, a next-generation electric hyper-GT, further underscores Lotus’ commitment to electrification. With over 19,000 orders for Emira and Eletre, Lotus anticipates record-breaking production and sales going forward.
US EV Market Hits New Heights
The U.S. electric vehicle market is reaching new milestones, with EV sales expected to surpass one million for the first time in 2023 according to carscoops.com. Despite a slight deceleration, the market shows robust health, driven by Tesla’s contributions and the increasing market share of electric vehicles.
In a landmark shift for the U.S. automotive market, 2023 is shaping up to be a historic year with electric vehicle (EV) sales on track to surpass the one million mark for the first time. EVs have made an impressive leap with 136,000 new units rolling out in September alone, marking a 67% increase from the previous year. Tesla leads the charge, contributing nearly 59,000 vehicles to this tally.
Post-Warranty EV Costs
While EV owners enjoy the benefits of fuel cost savings, it’s prudent to set aside some of these savings for future maintenance needs, especially post-warranty. This advice comes in light of a Tesla Model S owner’s experience, who posted on Reddit that they faced a substantial battery replacement bill of over £15,000.
The issue arose when the vehicle’s range decreased from 270 to 215 miles, just a few months after the warranty expired. Such instances highlight the importance of financial planning for long-term EV ownership, ensuring readiness for any unexpected expenses and maintaining the vehicle’s performance over time.
However, many other owners comment on very few necessary costs, even past the 120,000-mile mark.
EU Car Market Growth
The EU car market is showing growth, with a nearly 15% increase in new car registrations in October despite the current downturn as shown by data from the European Automobile Manufacturers’ Association (ACEA).
The trend reflects the region’s shift towards sustainable and innovative automotive technologies with new car registrations increasing for the fifteenth month in October and a 14% rise reaching 855,484 units in October. The demand for new cars has been notably high in Italy, Spain, France and most other EU countries.
