Latest news with #affordableEV
The Independent
2 days ago
- Automotive
- The Independent
Bezos backs basic EV pick-up where radio, back seats and power windows will cost you extra
Slate Auto, an electric pick-up brand backed by Jeff Bezos, will build its no-frills vehicle, where a radio and power windows cost extra, at an old Indiana printing plant. Slate announced on Monday that it is taking over the historic plant in the small town of Warsaw that closed in 2023. The new facility is expected to create 2,000 jobs, the company said. The truck originally had a $20,000 price tag after federal EV incentives – much less than the average new vehicle, which sells for above $45,000. But Donald Trump's 'One Big Beautiful Bill' killed the federal EV credit, now likely adding an extra $7,500 to the cost. The brand is selling its truck on the concept that it 'can change into whatever you need it to be – even an SUV.' 'Made in the USA at a price that's actually affordable (no really, for real), their website boasts. The baseline truck is small, measuring 15 feet long, which is smaller than a Honda Civic hatchback. The standard truck also only features two seats, for a driver and a single passenger, and will be built with gray panels, cutting costs by forgoing additional paint. Standard versions of the truck also come with roll-down windows and manually adjustable rearview mirrors, according to Car and Driver. However, customization will allow customers to change countless features of the vehicle. Slate says more than 100 accessory items will be available when deliveries of the truck begin at the end of 2026. Possible upgrades include power windows, a stereo and a center console. There's also an SUV kit, which adds a roof panel to the truck's bed, a three-across rear bench seat, a roll bar, and airbags in the back of the car. It was not immediately clear how much each possible add-on would cost customers. The Michigan-based company has raised over $700 million from investors, including Bezos, and received over 100,000 reservations for its cars, which won't be delivered until late 2026 but can be reserved for $50. The truck comes at a time where the cost of a new car is out of reach for many Americans – and may only get worse under President Donald Trump's tariffs. 'There's a growing appetite, especially among younger drivers, for vehicles that are more honest, more modular and less over-engineered,' said Paul Waatti, director of industry analysis at AutoPacific. 'Slate taps right into that.'
Yahoo
4 days ago
- Automotive
- Yahoo
‘Let the cat out of the bag there': Elon Musk says the new, affordable Tesla coming in 2025 will just be a cheaper Model Y
When you buy through links on our articles, Future and its syndication partners may earn a commission. More affordable models will be based on existing Model 3 and Model Y Cost-cutting will include stripped-down interiors and reduced tech The move is a bid to drum up sales, which have slumped in recent months During a shareholders' call that followed Tesla's recent quarterly earnings announcement, Elon Musk "let the cat out of the bag" (as he put it) by stating that the much-hyped affordable Tesla will simply be a trimmed-down Model Y. Switch Auto Insurance and Save Today! Great Rates and Award-Winning Service The Insurance Savings You Expect Affordable Auto Insurance, Customized for You The divisive CEO didn't go into any further detail, only that production is slated for August or September, but it is understood that the cheaper Model Y will be offered at a lower price thanks to a reduction of interior tech, the use of less expensive materials and a number of more affordable exterior flourishes. While many sectors of the Tesla-buying community have been eagerly awaiting an all-new affordable model, which was once tipped to be a $25,000 Tesla that was rumored to be based on the Cybercab "unboxed" platform, Musk believes that making the Model Y more accessible will help buoy sales. In the very same earnings call, Musk warned shareholders of a "few rough quarters to come", commenting on the fact that the Trump administration had removed a number of initiatives and incentives that had previously proven a rich revenue stream for the company. These include the regulatory credits that the company sold to more polluting rivals to help offset their carbon emissions. To compound matters, The Guardian reported that figures published by the European Automobile Manufacturers' Association (ACEA) revealed that sales of Tesla vehicles in Europe slumped by 33% to 110,000 in the first half of 2025, compared with 165,000 in the first half of 2024. Elon Musk has been attempting to soften the blow to investors by stating that the company's future lies in its Robotaxi and autonomous driving solutions, boldly claiming on the earnings call that 'half of the population of the US will be covered by Tesla's Robotaxi by the end of the year.' This is despite the fact that his "paid-for" service is still limited to a number of select invitees, all of whom will have to share the ride with a Tesla safety operative and can only travel in a strictly geo-fenced area of Austin, Texas. Tesla data suggests Autopilot is getting worse While Elon Musk is still banging the drum for his autonomous driving systems, Tesla revealed an Autopilot safety report that suggests its camera-only autonomous driving technology has regressed in 2025. The data highlights miles driven between crashes for Tesla vehicles with Autopilot features turned on, comparing that to the US average of miles driven between crashes. Electrek has been reporting on this subject for years and clearly points out the many holes in Tesla's cherry-picked data. But even when factoring in the various biases and discrepancies, the numbers clearly show that there were fewer miles driven between crashes in Q1 2025 than there were in the same quarter last year. It is worth point out that this only relates to Autopilot, which is an inferior technology to Tesla's Full Self-Driving (FSD) system. But it's still not a good look, especially when the CEO is boasting that customers will soon be able to use FSD without supervision – in other words, fully hands-off/eyes-off driving in a variety of driving conditions that very few manufacturers have managed to successfully crack. You might also like Tesla is secretly testing new versions of its Model S Plaid and Model Y Performance – here's what to expect Tesla's futuristic drive-in Diner is the coolest thing it's built in years – here's what it's like inside I've driven the new Mercedes-Benz CLA and it convinced me that EV efficiency can actually be exciting
Forbes
4 days ago
- Automotive
- Forbes
The All-New Tesla Model Coming Soon Is Not What You Think
A new Model Y driving in LA (Photo by MEGA/GC Images) So, is there a new, more affordable Tesla in the pipeline? Apparently yes, and it's not what you think. Last week, on a second-quarter Tesla earnings call, the man himself, Elon Musk let the cat out of the bag when he said, 'It's just a Model Y.' Really? What does that mean? Could it mean that it's just a stripped down Model Y? And what about the future of the federal tax credit? Let's face it: Tesla is the only American automaker capable of producing a high-end, realistic, appealing electric vehicle for less than $30,000. And if they have to bring the car back to bare bones to make it sell, then that's what they'll do, apparently. People just don't have enough money to buy Teslas now Musk expanded by saying that, 'The desire to buy our cars is very high. It's just that people don't have enough money in the bank to buy them. That's the issue. So the more affordable we can make the car th Tesla CEO Elon Musk says new car is Model Y. (Photo by Odd ANDERSEN / AFP) (Photo by ODD ... More ANDERSEN/AFP via Getty Images) Then he revealed how potential buyers can possibly offset the purchase price of their car by 'releasing their car to the fleet and have it earn money for them,' suggesting that people may 'lend' their cars back to Tesla in a type of robotaxi relationship perhaps. Musk then went out on a limb by saying he's confident that 'I think this will happen next year in the U.S. at least.' His comments though raise more questions than provide answers. By saying 'it's just a Model Y,' does he mean a 'new' Y with upgraded parts but based on the old platform, which would help to keep costs down? What we do know is that the more affordable Model Y, as referred to by Musk, should be surfacing in Q4 this year. But that will be long after the $7,500 federal tax credit ends—which will make it even tougher for Tesla to get the price down to the sub-$30,000 level that Musk seems to be alluring to. Let's have a quick look at Tesla's current pricing. Today, the Model Y rear-wheel drive variant costs $44,990, which when you factor in the $7,500, drops the price to $37,490. But with that tax credit gone, and we expect it to disappear very soon under the Trump Administration, the price for a current model Y will hover around $44,000. So for Musk to achieve his goal of achieving a sub-$30,000, he will need to find $15,000 worth of savings in specs and features. The question is—which features to strip back? If it's going to be used as some kind of robotaxi, then it will need all of its AutoPilot features. And given that the Y has been rated as one of the safest on the road by Euro NCAP, ANCAP and IIHS, Tesla would not want to skimp on safety features in any way—which would make it difficult to reduce pricing. But Musk has pushed the boundaries of car tech in the past and redefined the genre, so we will give him some latitude and wait for further updates even if his car sales are hurting all over the planet.
Yahoo
7 days ago
- Automotive
- Yahoo
Is the Tesla ‘Model Q' Coming in 2025? These Top Analysts Think So.
It has been some time since Tesla (TSLA) CEO Elon Musk has teased an affordable model. In fact, perhaps the first recorded instance of Musk talking about a cheaper Tesla model was way back in 2006 when, in an official blog, he stated, 'Build sports car. Use that money to build an affordable car. Use that money to build an even more affordable car.' Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Great Rates and Award-Winning Service After years of missed deadlines, maybe 2025 is the year when we finally get to see an economical version of the world's most popular EV, at least if a recent note from Deutsche Bank is to be believed. In an earlier note, the firm estimated the cost of the expectantly titled new Model Q or Model 2 to be less than $30,000, competing with cars such as the Volkswagen ID.3 and the BYD Dolphin. More News from Barchart Nvidia Stock Warning: This NVDA Challenger Just Scored a Major Customer Dear Microsoft Stock Fans, Mark Your Calendars for July 30 Dear QuantumScape Stock Fans, Mark Your Calendars for July 23 Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. What to Expect in the New Model Tesla's long-anticipated affordable model, unofficially referred to as either the Model Q or Model 2, is generating significant buzz, and for good reason. The model is expected to be built in accordance with the company's proprietary manufacturing process. The idea here is to simplify and accelerate production, which could help lower costs. If current estimates hold, the car would be shorter than the Model 3 by roughly 15% and lighter by about 30%, suggesting a much more compact and efficient design. The real differentiator, though, may be the battery choice. Tesla seems likely to opt for lithium iron phosphate (LFP) batteries for this model. These aren't just cheaper to produce than the standard lithium-ion alternatives, they also tend to last longer, which makes them a logical pick for a cost-conscious EV. At this point, two battery configurations are being speculated: a 53 kWh pack with rear-wheel drive, estimated to offer around 310 miles of range, and a 75 kWh all-wheel drive variant, which might surprisingly come with slightly less range due to increased power demands. Meanwhile, when plugged into one of Tesla's V3 Superchargers, the battery could be pushed to 80% in just 20 to 25 minutes, a timeframe that makes long-distance travel feel less burdensome. At home, using a standard Level 2 charger, owners could expect to gain between 30 and 40 miles of range per hour, a rate that would comfortably cover daily driving needs. On the performance side, early figures suggest the rear-wheel version might accelerate from zero to 60 miles per hour in about 6 to 7 seconds. The dual-motor all-wheel variant, by contrast, may complete that sprint in under five seconds, potentially making it one of the fastest vehicles in its anticipated price segment. Tesla Is Here for the Long Haul Tesla has had a rough 2025 so far, seeing its share price fall by 17.6% on a YTD basis, thanks to Musk's political machinations and intense competitive pressure from Chinese EV companies. However, the company with a market cap of $1.1 trillion still has a compelling long-term story. I had highlighted this in a recent piece, exploring how bulls expect autonomous vehicles and robotics to be the key drivers. In terms of its vehicle division, Tesla has something few others can claim: a huge stream of real-world driving data. With over a million vehicles out there, each one constantly feeding back info, the company has built a rich foundation for its autonomous driving efforts. Combined with its own AI systems, that data could give Tesla a serious head start in the race toward self-driving services. Then there's the Optimus robot with a clear initial vision. The first goal is to use it in its own factories. If the plan works, and production ramps up at the expected price range of $20,000 to $30,000, there could be big demand, not just in industry, but eventually at home too. Overall, what bodes well for Tesla is its ability to keep things in-house. From hardware to software, from cars to energy, the company runs a tightly controlled operation. That gives it room to move fast and experiment where others might stall. And with global support growing for green tech and looser regulations on the horizon, the timing may be on Tesla's side. Financials Not a Concern (Yet) Tesla has had a few rough quarters financially, but it hasn't lost its footing just yet. The latest numbers released for Q1 2025 didn't meet Wall Street's expectations. That might be concerning on the surface, but it's not entirely surprising, with heavy capex being done on the part of the company in various fields such as AI and robotics. In the first quarter, the company reported $19.3 billion in total revenue, which is a 9% drop compared to the same time last year. The core automotive business saw a steeper fall, down 20% to $13.9 billion. Meanwhile, some of Tesla's smaller divisions fared better. Revenue from energy generation jumped 67%, and the services segment rose 15%, hitting $2.7 billion and $2.6 billion, respectively. Profit-wise, things got tighter. Earnings per share landed at $0.27, 40% lower than last year and well below the expected $0.41. This hit came from rising production costs and slower delivery rates. Even so, Tesla made progress in generating cash. Operating cash flow reached $2.2 billion, a huge lift from just $242 million a year earlier. Free cash flow turned positive too, at $664 million, compared to the $2.5 billion outflow from the same quarter last year. Overall, the company also ended the period with $37 billion in cash and equivalents. Tesla is set to report its Q2 earnings on July 23 after market close, with analysts expecting EPS of $0.29. Analyst Opinions on TSLA Stock The analyst community has assigned a rating of 'Hold' for Tesla stock, with a mean target price of $297.86, which has already been surpassed. However, the high target price of $500 implies upside potential of about 51% from current levels. Out of 40 analysts covering the stock, 12 have a 'Strong Buy' rating, two have a 'Moderate Buy' rating, 16 have a 'Hold' rating, and 10 have a 'Strong Sell' rating. On the date of publication, Pathikrit Bose did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Telegraph
14-07-2025
- Automotive
- Telegraph
Citroën ë-C3 review: The cheap electric car we've been waiting for
You have to feel for the Citroën ë-C3. There it was, set to grab a fat slice of the burgeoning market for small electric cars. Then along came the Renault 5 – almost identically priced, technically brilliant, as well as charmingly styled as a perfect retro homage to a car so quintessentially French it was a surprise not to find a boot-mounted onion holder on the options list. Where does that leave the ë-C3? Up a creek without a paddle, you might think. But there is still plenty to love about Citroën's small EV. For one thing, you might prefer the fact it looks forward, rather than back. It's chic and modern, rather than a retro pastiche, which might be more to your liking. For another, it's technically an SUV, its boxier profile making it more practical than the 5. And what with Citroën getting its mojo back recently, the ë-C3 should drive pretty well, too. So is this small, affordable EV worthy of consideration? Pros Comfortable ride Smart interior Low price Cons Not fast Boot could be bigger Shame about the Renault 5 Priced out Until recently, the ë-C3 had price on its side, too. At a shade over £21,000, it represented a saving of almost £2,000 over the entry-level 5. But more recently Citroën raised the price of the entry-level Plus model, narrowing the difference to £900. (The top-spec Max model tested here is a further £1,700.) That may still be enough to sway you, particularly given the ë-C3 will charge faster, zipping from 10 to 80 per cent in only 26 minutes, according to Citroën. However, the EVDatabase website, fast becoming the Bible for EV facts and figures, reckon it will take longer; in fact, at 32 minutes, it matches the 5's time exactly. The ë-C3's 44kWh of usable battery capacity will get it marginally further on a charge at 199 miles (to the 40kWh Renault's 192), but while the Renault has a heat pump as standard the Citroën doesn't. That said, the ë-C3's lithium iron phosphate (LFP) battery technology performs marginally better in colder weather, which may help make up the difference. Either way, you can expect a range of about 150 miles in the real world, with the usual caveats relating to variations in temperature (significantly less range in the coldest weather). There are other rivals to the ë-C3, of course, though the price for entry tends to be higher. From China, GWM's Ora 03 Pure will do 193 miles (officially) and costs a fiver shy of £25,000. The BYD Dolphin is capable of 211 miles, but is just over £26,000. From Europe, the Mini Cooper Electric costs almost £27,000 yet only provides 185 miles of range. The £25,000-odd that Fiat charges for a 500e, meanwhile – which will only do 118 miles on a full charge – sounds by comparison like a rip-off. Almost perfect So the ë-C3 undercuts its supposedly more affordable Chinese competitors yet also looks a bargain next to its trendier rivals. Indeed, Renault 5 apart, the ë-C3 would have the playing field at this price point all to itself – and would look like tremendous value as a result. But there's a difference between 'good value' and 'cheap'. Early signs are promising. Climb aboard – the ë-C3's SUV profile means the seats are slightly higher off the ground than its conventional hatchback rivals', which makes access easier – and you're greeted with an unusual stacked dashboard, which incorporates full-width accent lighting, two enormous shelves and a central tablet-style touchscreen. The driver's main instrumentation takes the form of a simple black-and-white digital binnacle atop the dash that presents all the information you need crisply and clearly. There are physical buttons on the steering wheel and a proper climate control panel with some neat piano key toggles to adjust the temperature, so you don't have to use the touchscreen to do so.
