EV North Newsletter: Uber and Turo EVs, the Bolt is back!, CyberCanopy, and more!

Issue #68 - Tuesday, July 25th, 2023

Author

Michael Timmons
July 25, 2023

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

In this weekly issue, we’ll take a look at the following:

  • Uber offers incentives for drivers to go EV.

  • Turo offers incentives for hosts to offer EVs.

  • The Bolt is back!

  • CyberCanopy - a new Tesla product?

  • Tesla FSD transfer details.

Also - I have a few things in the works that I am hoping to bring to your eyeballs.

PS: Not really EV related, but I have been a fan of Mighty Car Mods for the longest time and they just dropped an interesting feature film. They have released films in the past - and they are all amazing!

Canada

Uber Driver's EV Journey: Profits, Environmental Impact, and Tesla Enthusiasm.

Electric vehicles are at the forefront of decarbonizing the transportation sector, and their adoption among taxis and ride shares holds immense potential in reducing greenhouse gas emissions. Wayne Edward, an Uber driver, embraced this eco-conscious shift and transformed his business model while becoming a Tesla ambassador in the process.

Edward's journey with his Model Y is met with fascination from passengers, who are intrigued by the car's features and eco-friendly nature. His decision to switch to an EV, apart from being a conversation starter, proved to be a smart investment, saving him more than $12,000 annually in gas and maintenance expenses.

The transportation sector accounts for a significant portion of greenhouse gas emissions in the Greater Toronto and Hamilton Area (GTHA). However, taxis and ride shares have an outsized influence due to their increased road presence compared to private vehicles. As Wayne Edward's experience demonstrates, professional drivers are switching to EVs primarily for the remarkable cost savings. EVs pay for themselves within 6-7 years, given the substantial reductions in fuel and maintenance costs.

Globally, electric vehicle sales have witnessed exponential growth, surpassing 10 million units sold in the previous year, a remarkable 57% increase from the year before. In Canada, zero-emission vehicle sales, including plug-in hybrids, reached 123,000 units last year, indicating a shift in consumer preferences away from gasoline cars.

Recognizing its responsibility towards environmental sustainability, Uber has committed to having all its drivers transition to zero-emission vehicles in North America by 2030 and globally by 2040. Already, 60,000 Uber drivers worldwide have embraced EVs, encouraged by Uber's incentives, such as discounts on fast charging, home charger installations, and rental subsidies for drivers to test drive EVs.

While the adoption of EVs is on the rise, certain challenges need to be addressed to accelerate the transition fully. The upfront cost of EVs remains higher than traditional gas-powered vehicles, deterring many economically disadvantaged ride-sharing drivers. To facilitate the transition, organizations like The Atmospheric Fund (TAF) are exploring specialized financing options, allowing drivers to use their fuel savings to pay off EV loans.

City governments are also taking steps to promote EV adoption, proposing reduced licensing fees for EV drivers and eliminating age limits on vehicles, ensuring longevity for drivers who invest in EVs.

Ride-sharing companies and taxis are both integral to the transportation landscape. While ride-sharing has actively embraced EV adoption, taxis face unique challenges due to insurance limitations for EVs. City governments are working towards a cleaner future, mandating all vehicles-for-hire to be EVs by 2030. However, measures need to be taken to ensure accessibility to charging infrastructure in economically disadvantaged communities.

Are you on Reddit? Check out our subreddit at https://reddit.com/r/evcanada 

GM's Ultium Battery Powers New Chevy Bolt EV, but Production Challenges May Slow Ambitious Electric Car Goals.

General Motors has unveiled plans to develop a new Chevrolet Bolt EV, equipped with the cutting-edge Ultium battery and drive technology. The upcoming model promises great affordability, range, and technology, adding to Chevrolet's already scheduled launches for this year, including Equinox and Blazer SUVs and the Silverado pickup truck. GM's CEO, Mary Barra, expressed optimism about an accelerated timeline for the new Bolt, but ongoing supply issues for Ultium batteries could pose challenges.

Despite GM's ambitious EV production goals, supply chain challenges continue to hinder the mass production of Ultium batteries. The company's initial 50,000 EVs produced this year primarily rely on older third-party batteries, with less than 2,800 vehicles in the US utilizing the new Ultium battery packs. Supply chain issues, particularly concerning battery module capacity, have affected production timelines.

Currently, Ultium batteries are only deployed in select GM vehicles, including the Cadillac Lyriq SUV, GMC Hummer, and BrightDrop subsidiary brand delivery vans. While GM's president of North America remains optimistic about increased EV production in the second half of the year, the limited use of Ultium batteries reflects ongoing supply constraints.

GM's ambitious plans to deliver 400,000 EVs in North America by 2023, with a target of producing 1 million EVs in the region by 2025, have faced delays due to battery production issues. The initial 400,000 unit deadline was already pushed back to 2024. However, the automaker's upcoming battery production facilities in Tennessee and Michigan are expected to boost production capacity.

GM has invested substantial funds in its EV development, committing tens of billions of dollars to develop its Ultium batteries since unveiling its modular EV platform in 2020. The company established a joint production facility in Ohio with LG Energy, where the batteries are being produced, while additional facilities are under construction in Tennessee and Michigan.

Despite the challenges in Ultium battery production, GM's Q2 2023 earnings report revealed strong financial performance. The company reported a profit of $2.6 billion in the second quarter, up from $1.7 billion in the same period last year. Revenue also rose by nearly 20 percent to $44.7 billion. GM remains committed to optimizing its operations and lowering capital spending while focusing on achieving its ambitious EV goals.

Turo Launches Incentive Program to Boost Electric Vehicle Sharing in Canada.

Turo, the popular peer-to-peer (P2P) vehicle sharing marketplace, is stepping up its efforts to promote sustainable transportation in Canada. Recognizing the crucial role of electric vehicles (EVs) in reducing carbon emissions, Turo has introduced an exciting new incentive program for Canadian EV owners. This program aims to encourage more EV owners to list their vehicles on the platform, making eco-friendly transportation options accessible to a wider audience. With financial benefits for hosts and increased exposure to EVs for potential buyers, Turo's initiative is poised to accelerate EV adoption in the country.

Under the new incentive program, Turo is offering a financial boost to EV owners in Canada. Hosts who list qualifying EVs on the platform can receive a matching incentive, up to a total of $1,000, based on their earnings. This offer provides an added incentive for EV owners to participate in the car-sharing marketplace, contributing to the growth of eco-conscious mobility solutions.

"Committed to an EV-friendly future, Canadians' lack of experience with EVs remains a strong barrier to adoption. Given the continued interest in extended test drives, we introduced this incentive program as we believe increased exposure to EVs may accelerate ownership and usage in Canada."

Cedric Mathieu, Senior VP and Head of Canada at Turo

Apart from the incentive program, hosting an EV on Turo comes with significant financial advantages for owners. Canadian hosts on Turo currently earn an estimated average of $732 per month, turning their otherwise idle assets into a lucrative source of income. This additional monthly revenue helps offset the costs associated with owning an EV, making it an attractive proposition for eco-conscious vehicle owners.

To qualify for the incentive program, owners of eligible EV models in Canada can start listing their vehicles on Turo from until September 30, 2023. Hosts must generate a minimum of $500 in earnings with their eligible EVs before the specified date to be eligible for the incentive. Some of the eligible EV models include:

  • Any Rivian model

  • Any Polestar model

  • Ford F-150 Lightning

  • BMW iX

  • Cadillac Lyriq

Owners of these EV models can enroll in the incentive program by filling out the provided form on the Turo platform. Additional terms and conditions apply.

Turo has observed a significant rise in the interest for electric vehicles among its users in Canada. The "electric" filter for summer trips saw a substantial increase compared to the previous year, indicating growing demand for EVs among Turo guests. Popular cities like Toronto, Montreal, Vancouver, Mississauga, and Calgary witnessed the highest number of EV bookings, showcasing a strong interest in eco-friendly transportation options in urban centers.

Turo's platform has already proven to be a successful venture for many Canadian EV hosts. One such host is June H. from Ontario, who initially joined the platform with the aim of paying off her Tesla, which came with an eight-year term and $500 monthly payment. Within the first month of listing her car on Turo, she hit the $1,000 mark in earnings.

"In my first month, the car was booked something like half the time I had it," said June. "So I was really happy, and then because of that within a month, I decided to sell my car and upgrade to a 2021 Model 3, and then within two weeks after that, I bought a second Tesla, a Model Y, just because of how well Turo was going."

June H. - Turo Canada EV Host

EV Around the World 🌏

Tesla CyberCanopy: Innovative Solar Solution for Upcoming Massachusetts Supercharger.

Tesla enthusiasts in Massachusetts have reason to be excited as an upcoming Supercharger location might feature the cutting-edge Tesla CyberCanopy. This pre-assembled solar system was presented during a local planning board meeting, hinting at Tesla's commitment to sustainable energy solutions. With CEO Elon Musk's vision of converting all Superchargers to solar and battery power, this new development might pave the way for greater adoption of renewable energy in Tesla's charging infrastructure.

As early as 2016, Elon Musk expressed his desire to incorporate solar arrays at Supercharger stations. While some installations took place, a full rollout was contingent upon Supercharger V3, Powerpack V2, and SolarCity. With the advent of Supercharger V4, Tesla has the potential to accelerate the integration of solar and battery technology, moving closer to Musk's vision of a grid-independent charging network.

A Twitter user @MarcoRP, shared exciting news about the 20-stall Tesla Supercharger planned for Canton, Massachusetts, situated near the Trillion Brewing Company off I-93. The site plans include provisions for a solar canopy, suggesting Tesla's commitment to sustainable energy practices at its charging stations. While the actual installation might be considered a future addition, Tesla's previous success with solar canopies indicates a seamless and rapid deployment.

Tesla's solar canopies, including the newly dubbed CyberCanopy, could revolutionize the installation process with pre-assembled systems. Similar to the Prefabricated Supercharger Units (PSUs), this innovative approach could streamline deployment and make sustainable charging solutions more accessible.

As more automakers, including Nissan, join Tesla's North American Charging Standard (NACS) coalition, the demand for Tesla Superchargers is set to rise. With non-Tesla automakers offering NACS adapters to their customers, Tesla must be prepared to meet the surging demand. The Tesla CyberCanopy could prove instrumental in fulfilling the brand's additional energy requirements and potentially reducing strain on the electricity grid.

Tesla Unveils Full Terms for FSD Beta One-Time Transfer - A Surprising Opportunity for Owners.

Tesla recently announced a groundbreaking opportunity for its Full Self-Driving Beta (FSD Beta) owners - the ability to transfer ownership of the coveted feature to a new Tesla vehicle. During the Q2 2023 earnings call on July 19, CEO Elon Musk revealed that existing FSD Beta-equipped car owners could take advantage of this one-time transfer option, but with a catch. To qualify for the transfer, owners must trade in their old EVs and order a new Tesla during the third quarter, with the deadline set for the end of September.

This announcement comes as welcome news for current FSD Beta owners who plan to upgrade to a new Tesla, as it allows them to avoid repurchasing the costly FSD package, which is priced at $15,000 in the US. With the FSD suite becoming transferable, existing owners can smoothly transition to their new vehicle while retaining the highly sought-after autonomous driving capabilities.

While the FSD Beta transfer program began on July 20 and will run until September 30, Tesla has outlined specific terms and conditions to ensure eligibility. The transfer process involves removing the FSD suite from the original vehicle and transferring it to the new Tesla, which the owner must take delivery of by the end of Q3.

The Complete List of Requirements:

  1. Ownership Confirmation: To qualify for the transfer, individuals must be the legal and registered owners of a Tesla vehicle currently equipped with Full Self-Driving capability at the time of the new Tesla's delivery. The vehicle should not be involved in any pending cancellation or buyback request.

  2. Delivery Window: Owners need to take delivery of their new titled Tesla between July 20, 2023, and September 30, 2023.

  3. Forfeiture and Trade-in: Owners must accept the forfeiture of Full Self-Driving capability on their existing Tesla, or alternatively, they can choose to trade in their current Tesla directly with Tesla when purchasing the new vehicle.

  4. One-Time Transfer: The Full Self-Driving capability can only be transferred once and cannot be transferred to another vehicle or another person, even in the case of a private sale. The offer cannot be combined with other promotions and is not redeemable for cash.

  5. Subject to Change: Tesla reserves the right to change, modify, or terminate this offer at any time without prior notice.

  6. Non-Reversible Forfeiture: The forfeiture of Full Self-Driving capability on the current vehicle is non-reversible after taking delivery of the new Tesla or after Tesla removes the capability from the current vehicle.

  7. Ineligible Vehicles: Used vehicles and vehicles used for commercial purposes are not eligible for this transfer program.

  8. Breach of Terms: Tesla may remove the Full Self-Driving capability from the new vehicle if it determines in good faith that the owner has breached any of the transfer terms or made misrepresentations about Full Self-Driving on the current vehicle.

  9. Non-Retroactive Application: This offer cannot be applied retroactively after the new Tesla vehicle is delivered.

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