Hyundai's Mike O'Brien tells us how California's Zero Emission Vehicle credits are impacting the company's green car plans.
Katie Fehrenbacher from GigaOm drove down to the Tesla's first battery-swap station in Coalinga, California to snap some photos and check on its progress. The station will be the first to begin a pilot program to conduct the three-minute pack swaps, and could restore Tesla's revenue stream of selling ZEV credits.
When it comes to California zero-emissions vehicle (ZEV) credits last year, Nissan was selling and Mercedes-Benz was buying. The California Air Resources Board (CARB) put out its ZEV-credits numbers for the year that ended September 30, which is why we now know that Nissan, maker of the battery-electric Leaf, transferred 663.6 ZEV credits out of its account last year. That just edged out the 650.195 credits that Tesla sold. Chrysler's Fiat affiliate was a distant third, but its limited-productio
Ohio is not known as a hotbed of EV sales – if anything, the state is a bit anti-EV, thanks to a legislative fight against Tesla's direct sales model – but it might be on Chevrolet's short list to expand the market for the Spark EV in the near future. The latest official GM press release on the battery-powered Spark still says the car is "available exclusively in California and Oregon," but Hybrid Cars found four Ohio dealerships that list a Spark EV on their websites, with hints the
With the first Hyundai Tucson Fuel Cell Vehicle deliveries happening soon (a bit later than expected), it's time for the Korean automaker to explain why it's offering the H2 CUV here in the states. After all, there are only 10 public hydrogen stations in the US today, according to the DOE, so it can't be to take over the market. According to a Hyundai exec, the reason we are getting the Tucson Fuel Cell is to make up to $130,000 through California's ZEV credit system.
Could the California Air Resources Board (CARB) be taking a $55-million bite out of Tesla Motors' profits? The state regulator, which grants zero-emission vehicle (ZEV) credits for automakers making plug-in vehicles, is planning to reduce the number of credits generated by each Model S battery-electric sedan from seven to four, Bloomberg News reports. That means the California-based automaker will have fewer credits to sell to big buyers such as General Motors and Chrysler, who don't make enough
Nissan, like Tesla, is finding that it's a seller's market when it comes to zero-emission vehicle (ZEV) credits in the most populous US state. The Japanese automaker has joined the California-based manufacturer of the Model S in selling ZEV credits to automakers who aren't making enough plug-ins to keep up with California targets but don't want to be fined, Bloomberg News reports. Nissan executive Andy Palmer confirmed that the company had credits leftover because it sells a sufficient number of
Finally, we know the number. Tesla Motors announced today that it sold 5,150 Model S electric vehicles in North America last quarter. Divide by three and you see that the California company sold around 1,700 cars a month, which puts it right up there with the current plug-in vehicle champions, the Nissan Leaf and the Chevy Volt. That's despite the fact that the cheapest Model S, which starts at $69,900 but often sells for a lot more with better options, costs at least twice as much as the sales
Tomorrow, we will get a fresh glimpse into the financial situation over at Tesla Motors. That's when the California automaker, always ready to go its own way and not release monthly sale figures, will discuss its second-quarter SEC filing. From what we've been told, it won't be as rosy at three months ago. In early May, when Tesla announced Q1 results and said it had made its first-ever quarterly profit, it warned that the second quarter results would not be as good. Specifically, the company sa
As Tesla Motors showed last month, it takes as little as 90 seconds to swap out a battery on a Model S electric vehicle. Unfortunately for the California-based automaker, it could take as little as 90 days for the state to shelve a law that made such battery-swapping capabilities a profitable exercise for Tesla. The California Air Resources Board (CARB), which is heading the efforts to provide incentives for automakers to make zero-emissions vehicles for the most populous US state, may rejigger
Julie Christie, the rumors are true. After plenty of hint-dropping over the past few months, Tesla officially released 2013 first quarter (Q1) financial details today, and it was the first quarter in which the ten-year-old company was actually profitable. CEO Elon Musk, speaking on a conference call to investors today, made it clear that the numbers are good, but behind-the-scenes factors make them even better.
Tesla Motors is expected to release quarterly earnings figures within the next few days, and the Silicon Valley automaker is thought to have attained profitability for the first time ever. As it turns out, a good bit of that profit will reportedly come from the State of California.
Automakers are buying and selling zero emission vehicle credits ahead of more stringent ZEV mandates in California. The state now requires larger automakers to increase the number of zero-emission vehicles they sell, including electric, plug-in hybrid and hydrogen models. Manufacturers that manage to exceed their ZEV goals are awarded credits, which they may sell then sell to other automakers. Not surprisingly, Nissan has an abundance of credits on its table thanks to its Leaf EV, though the com
Earlier today, and very quietly, the California Air Resources Board (CARB) released all of the zero-emission vehicle (ZEV) credit balances. You can see the raw numbers for yourself here, but they might not make a whole lot of sense at first glance. If they don't, come back and we'll try and parse them together.