Hello! Thank you for checking out this weeks’ EV North Newsletter!

If you’re new here, The EV North is a weekly newsletter that brings together some of the biggest EV news stories and delivers it to your inbox. There is a focus on Canada & North America in general but you’ll also find EV news from around the world!

If you’re not new here, thank you for your continued support and be sure to reply to this newsletter with any feedback!

In this issue:

• AutoTrader’s Top Picks: Best Practical and Affordable EVs of 2024.

• Exploring the Surge in Electric Vehicle Sales in Canada Amidst Rising Interest Rates.

• Polestar 5 GT Shows Incredible Charging Capabilities.

• Tesla Makes Further Workforce Reductions - Including Supercharger Team.

• IEA Global EV Outlook 2024

• Automobili Pininfarina Partners with DC to Unveil Batman-Inspired Electric Hypercars.

• +more!

Canada

AutoTrader’s Top Picks: Best Practical and Affordable EVs of 2024.

Discover the best mainstream EVs of 2024 as recommended by AutoTrader’s panel of over 20 automotive experts. From practicality to affordability, these top picks offer a range of options to suit your needs and preferences, making them ideal choices to kickstart your EV research journey.

2024 Chevrolet Equinox EV: Chevrolet introduces the 2024 Equinox EV, a compact SUV that promises a blend of performance and practicality. With a starting price of $48,199*, this EV boasts a spacious cabin, advanced safety features, and up to 513 kilometers of range in its front-wheel-drive variant.

2024 Hyundai Kona Electric: Redesigned for 2024, the Hyundai Kona Electric stands out with its refreshed exterior styling and enhanced features. Priced at $46,399, this subcompact SUV offers a responsive 201-hp electric motor, a range of 420 kilometers, and innovative technologies like the i-Pedal for seamless driving experiences.

2024 Kia Niro EV: The 2024 Kia Niro EV impresses with its blend of affordability and sophistication. Starting at $45,595, this small SUV delivers 201 hp to its front wheels, offering a dynamic driving experience complemented by a range of 407 kilometers and a spacious, tech-packed interior.

2024 Nissan Leaf: A pioneer in the EV market, the 2024 Nissan Leaf continues to offer practicality and affordability. With a starting price of $41,748, this hatchback delivers up to 341 kilometers of range, making it an ideal choice for daily commutes and urban adventures.

2024 Volkswagen ID.4: Volkswagen's ID.4 continues to impress with its range and performance. Starting at $48,495, this EV offers up to 468 kilometers of range in its longer-range Pro trim, along with enhanced power and updated infotainment features for a seamless driving experience.

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Exploring the Surge in Electric Vehicle Sales in Canada Amidst Rising Interest Rates.

Despite the challenge of rising interest rates, Canadians have embraced electric EVs (despite reports by some) with an increase in sales over recent years. This trend, however, prompts a closer examination of its underlying factors and the ongoing challenges facing the EV market.

Statistics Canada data reveals a notable uptick in new registrations for battery, hybrid, and plug-in electric cars, soaring from 94,500 in 2019 to over 320,237 in 2023. Even when hybrid electrics are excluded due to their emissions, EV registrations still climbed from 56,000 to 184,578 during the same period.

Notably, this upward trajectory persisted despite fluctuations in the Bank of Canada's interest rates, which rose sharply from 0.25% to 5.0%. While typically more expensive than conventional vehicles in initial purchase price, EVs maintained their appeal even amidst higher interest rates, indicating a strong consumer interest.

Economists highlight a shifting demographic of EV adopters, extending beyond affluent individuals to encompass middle-income Canadians. This widening consumer base underscores a growing environmental consciousness driving EV purchases.

However, challenges loom over the EV market's long-term stability. Concerns regarding infrastructure development, particularly charging stations, emerge as a crucial bottleneck hindering widespread EV adoption. Without adequate charging infrastructure, achieving ambitious EV sales targets, such as the federal government's goal of zero-emission vehicles by 2035, remains uncertain.

Disparities in EV adoption between urban and rural areas further underscore the need for tailored policies and incentives. While provinces like Quebec offer subsidies for EV purchases, rural regions often lack the necessary infrastructure, posing practical barriers to widespread EV usage.

Related to the charging infrastructure discussion, at the EV & Charging Expo, currently being held in Toronto, Todd Smith, Minister of Energy, had this to announce:

Polestar 5 GT Shows Incredible Charging Capabilities.

The Polestar 5 sports sedan, utilizing StoreDot’s cutting-edge Extreme Fast Charging (XFC) technology, is capable of charging from 10-80% in a mere ten minutes.

As the fifth addition to Geely-owned Polestar's EV lineup, the Polestar 5 stems from the acclaimed Precept concept, demonstrating how the brand is transforming concepts into tangible, high-performance vehicles.

Debuting its production prototype in late 2021, the Polestar 5 features innovative design elements like carriage doors and a "Smart Zone" grille housing advanced sensors for its advanced driver assistance system (ADAS). With a camouflaged prototype unveiled at the Goodwood Festival of Speed in July 2023, showing off 884 horsepower and Polestar's 800V architecture, anticipation for its release has been growing.

EV battery specialist StoreDot will trial its revolutionary 100in5 battery technology in the Polestar 5, promising 100 miles of range in just 5 minutes. This technology forms the core of StoreDot’s I-BEAM XFC concept, slated for mass production later this year.

Demonstrating its prowess, the Polestar 5 prototype achieved an impressive charging rate of over 370 kW, surpassing industry standards. This rapid charging capability, enabled by StoreDot's XFC technology, heralds a future where EV charging rivals the convenience of refueling at gas stations.

Polestar CEO Thomas Ingenlath emphasizes the luxury of time, envisioning shorter charging stops akin to traditional refueling. Equipped with a specially commissioned 77 kWh pack, expandable to at least 100 kWh, the Polestar 5 promises to replenish 200 miles of range in just ten minutes.

While Polestar initially aimed for a 2024 market release, the focus is currently on preceding models, the Polestar 3 and 4. Nonetheless, the Polestar 5's charging capabilities promising both performance and charging convenience for drivers.

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EV Around the World 🌏

Tesla Makes Further Workforce Reductions - Including Supercharger Team.

Tesla has announced further job cuts, including senior executives and the majority of its Supercharger team. This decision comes shortly after the initial layoff of at least 14,000 employees, indicating a significant restructuring within the company.

Rebecca Tinucci, Tesla's senior director of EV charging, along with most of her 500-person team, is reportedly leaving the company. Daniel Ho, head of the new vehicles program, is also departing, along with his team. Musk's directive in an email to executives emphasizes the need for stringent evaluations, stating that employees under executives who do not meet high standards will also face termination.

While the exact scale of these new layoffs remains uncertain, reports suggest that Tesla's overall headcount reduction could reach up to 20%, impacting over 20,000 employees. Despite these cuts, Tesla reaffirms its commitment to expanding its Supercharger network, indicating ongoing efforts in infrastructure development.

Among those affected, as previously mentioned are key figures such as Daniel Ho, a veteran of ten years at Tesla, responsible for overseeing vehicle programs and new product initiatives. Additionally, most of the public policy team, previously led by Rohan Patel, is also being let go.

These developments add to the challenges faced by Tesla in what has been a turbulent year. The company grapples with declining profit margins, intensified competition, and reputational issues surrounding its products and leadership. Despite these setbacks, Tesla remains focused on its mission to advance sustainable transportation.

IEA Global EV Outlook 2024.

Last week, the IEA released its 2024 EV Outlook Report. The findings highlight that despite the doom and gloom in the media around EVs there is a lot to be excited about.

A few takeaways:

• Global EV demand grew 35% in 2023 and could reach 17 million vehicles in 2024

• In 2023, 18% of all cars sold globally were electric

• In 2024, the market share of EVs could reach up to 45% in China, 25% in Europe and over 11% in the USA

• While China, Europe, and the USA account for 95% of the EV market, they account for only 65% of the total car market suggesting substantial global growth is still possible in developing markets

• Affordability is key to further adoption, the comparison between China (where EVs are cheap) and the USA (where they are still expensive) is a great example

Automobili Pininfarina Partners with DC to Unveil Batman-Inspired Electric Hypercars.

Automobili Pininfarina, known for its electric hypercars, partners with DC’s Wayne Enterprises to create limited-edition EVs inspired by the legendary Bruce Wayne, aka Batman.

Derived from the acclaimed Pininfarina brand, renowned since 1930, Automobili Pininfarina continues its legacy with electric hypercars like the Battista and B95 Barchetta. These models, reimagined with a Batman twist, are designed to capture the essence of Bruce Wayne's luxury and sophistication.

The collaboration introduces four exclusive EVs, featuring a 120kWh lithium-ion battery and four electric motors producing an astounding 1,900 horsepower. With acceleration capabilities rivaling Formula 1 cars, these hypercars offer an unparalleled driving experience.

Each model boasts unique design elements inspired by the iconic Batman franchise. From Wayne Enterprises-inspired HMI displays to bespoke interior detailing, every aspect reflects the spirit of the Dark Knight. The "Dark Knight" and "Gotham" editions offer distinct aesthetics, catering to different facets of Bruce Wayne's persona.

• Battista Dark Knight: €3,400,000 ($5,000,000 CAD)

• Battista Gotham: €3,400,000 ($5,000,000 CAD)

• B95 Dark Knight: €4,900,000 ($7,200,000 CAD)

• B95 Gotham: €4,900,000 ($7,200,000 CAD)

These limited-production hypercars exemplify Automobili Pininfarina's commitment to craftsmanship and innovation. Priced for the elite, these bespoke creations are reserved for those who share Bruce Wayne's affluent lifestyle.

QuickEV

• Deliveries Begin for All-Electric 2024 Acura ZDX and ZDX Type S.

• [VIDEO] 1 Month Cybertruck Ownership: From the Bad to the Worst.

• Rivian Reveals Next-Gen Charger Designed for All EVs.

• [VIDEO] Drag Race: Lucid Sapphire VS Tesla Model S Plaid.

• Tesla’s Autopilot and Full Self-Driving linked to hundreds of crashes, deaths

• [VIDEO] In the first Autonomous Racing League race, had some issues.

• Toyota preps new large electric SUV, is this a new Highlander EV?

• Lamborghini Urus SE Plug-in Hybrid SUV Unveiled at Auto China 2024.

EV Tweet of the Week

With only very early news on the Tesla Charging Team layoffs, there is widespread speculation around what is going on and why this has happened.

Here is one theory that was shared on Twitter - this is certainly a massive shakeup to the EV charging industry and we will see what further information is to come.