Eric Brody’s Post

Check out this week's Local EV Driver Feature 🔌🚘 Meet Mark from South Bend. Mark drives a Hyundai Ioniq 5. Great for longer road trips, as one of the fastest charging EVs. Federal tax credit rules went into effect for 2024 and reduced the number of new vehicles eligible for the $7,500 tax credit. However, many automakers are offering an equivalent discount if leasing, as they can claim a similar tax credit. Hyundai is one of the brands that as of July 2024 currently offers a lease discount, as the Ioniq 5 is no longer eligible for the $7,500 tax credit for new EVs. https://loom.ly/beukYxM

EV News "The UK is not currently doing enough to encourage people to transition away from petrol and diesel cars." "UK markets are the worst supported in Europe for any government incentives to help people transition from a petrol or diesel engine to an EV powertrain, and we really do need now for the Government to step up." - Matt Galvin - Polestar The surge of buying electric cars is going to grow rapidly as dealers slowly phase out petrol and diesel, why not get ahead of the curve and upskill yourself sooner rather than later? We have hybrid & Electric short Courses available, between 1 -3 days. To enquire more email enquiries@mti.ac.uk https://ow.ly/HIkg50TZq6Y

Did you know from 1 July 2022, Australia's federal government has introduced Fringe Benefits Tax (FBT) exemptions for certain electric vehicles (EVs), making it more appealing for businesses and employees to go green. Here's what you need to know: Eligibility Criteria Vehicle Type: Must be a battery electric vehicle, hydrogen fuel cell vehicle, or plug-in hybrid vehicle. Usage Date: Must be first held and used on or after 1 July 2022. Luxury Car Tax (LCT) Threshold: Vehicle value must be below the LCT threshold, set at $89,332 for the 2023-24 financial year. FBT Exempt EV Models Some eligible models include: BMW iX1, iX2, iX3, i4 BYD Atto 3, Dolphin, Seal Hyundai Kona EV, Ioniq 5, Ioniq 6 Kia Niro EV, EV6 Tesla Model 3, Model Y Volvo C40 Recharge, XC40 Recharge And many more... The exemption also applies to used EVs provided they meet the criteria. Note that the exemption for plug-in hybrids will end on 31 March 2025 unless there is a pre-existing commitment. This initiative not only makes EVs more accessible but also supports Australia’s transition to a sustainable future. 🌱 For a detailed list of FBT-exempt vehicles and more information, check out the full details on the ATO site.https://https://lnkd.in/gAxtiYvW #ElectricVehicles #Sustainability #Australia #EV #TaxExemption #GreenFleet #Innovation #Business #FBTExemption #FutureOfTransport

1,000,000 is a big number! That's how many EVs have been sold in the UK since 2002. As at the end of January 2024 the 1m barrier was breached with projections to hit over 2m in just 2 years. #automotive #evs #innovation #researchanddevelopment #rndtax https://lnkd.in/e3kDCsUV

The EV car adoption conundrum. Governments remove incentives for EV cars to secure more tax revenue, and inevitably EV car sales plummet. For private car buyers, there remains concern over the long-term value of EVs. Battery degradation, uncertainties around future technology, and fluctuating demand for EVs contribute to this. If consumers perceive EVs to have poor retained value, they may be hesitant to invest, which could further limit EV market growth. The used car market for EVs has yet to mature, adding to the hesitation for many private buyers. European Union regulations set stringent CO2 emissions targets for car manufacturers. Those who fail to meet these targets face hefty fines, sometimes reaching billions. If EV sales decline due to reduced incentives, manufacturers may struggle to offset the emissions of their remaining ICE vehicle fleets. This creates a significant financial risk for manufacturers, which could stifle innovation and investment in cleaner technologies. Answers on a postcard…

ONE MILLION EV's ON THE ROAD IN THE UK! 🕺 More than 20,000 battery electric cars (BEVs) were registered in the UK during January according to the latest Society of Motor Manufacturers and Traders (SMMT)data - up by a fifth year on year, and helped by generous tax incentives for company car users. It means that since 2002, one million of these cars have reached the road reports BBC News 'Fleet buyers - companies purchasing more than 25 units in one go - have been entirely behind the increase, with demand for BEVs growing by more than 40%. Electric cars accounted for 14.7% of all new vehicles sold in the UK in January. Although that was an increase over the same month the year before, it was still well below the market share of 16.5% achieved for the whole of 2023'... Positive news for sure - but 'could do better' would undoubtedly be the comment on the report card! Better in communicating the benefits both as they are today - and will be in the very near future - such as bi-directional charging at scale which has every prospect of accelerating the adoption of renewable energy across the country - encouraging more domestic roof top solar, improved grid balancing, and in giving vehicles a measurable business benefit/purpose when they are stationary...something your ICE vehicle could never do! Better in establishing a long term bi-partisan industrial strategy for the auto and energy industries by helping them scope, fund, and deliver the complex managed transition required for a sustainable 'in-house' journey. Demonising the ICE industry as some EV zealots seem to do is not the way forward - we all need to actively encourage and cajole the incumbents. Better in democratising the electric revolution with smaller, cheaper cars. Strong evidence that's about to happen - from EU & Asian OEM's alike! Better in the storytelling of how those 1 million drivers of EV's go about their business everyday, 99.99% of the time unencumbered by the charging drama etc depicted in certain parts of the press - then exaggerated even more so by too many (anti)social media outlets....read through the comments section of this BBC report to discover what that all looks like! Better in resolving the inequity on the VAT rate for EV charging that penalises less affluent EV owners who have no choice but to rely on public charging - 20% v 5% - so hats off to FairCharge/Quentin Willson & Co for relentlessly championing the cause on that with 10 Downing Street 👏 In the meantime, to each and every person that now lives with electrons and not hydrocarbons when it comes to mobility here in the UK - good for YOU...and that's good for EVeryone else too of course! #electricvehicles #automotive #charginginfrastructure #innovation

Plug-in electric car sales in China continued to increase at a solid rate in April, allowing the market share to increase significantly. According to EV Volumes' data, shared by researcher Jose Pontes, almost 704,000 new passenger plug-in electric cars were registered in China in April. That's about 30% more than a year ago, while the market share amounted to 44%, compared to 35% in April 2023. #electromobility #evs #mobilitysolutions #futureisnow

EVs reach 90% market share in Norway as the overall auto market falters – Charged EVs The days of ICE vehicles in Norway are numbered. Some years ago, the government set a goal of 100% electric sales by 2025, and that goal is well within sight. In the month of February, plug-in vehicles took 92.1% of the market, up from 90.1% year-on-year. Battery EVs took a 90% share, as recent tax https://lnkd.in/gfXn4Fiu

The UK’s millionth battery electric car (BEV) reached the road in January 2024, while the new car market grew and fleet demand continued to soar. The first month of the year saw 142,876 new cars registered – up 8.2% or some 10,882 units on January 2023. It’s the best performance for the month since 2020 and the 18th consecutive month of growth. #newcarregistrations #SocietyofMotorManufacturesandTraders(SMMT)

"Volkswagen’s orders for electric vehicles shot up in Europe in the first quarter of 2024 compared with a year ago, countering suggestions that drivers may be losing interest in EVs. [...] New orders for electric cars more than doubled in Europe, Volkswagen said in an earnings statement Tuesday. The company does not release order numbers for other markets." "The pace of EV sales growth in Europe and the United States had been slower than the German carmaker had originally anticipated." That pretty much sums it up. The EV market is still growing, but at a slower rate than before. #ev #electric #electrification #electricvehicle #electricvehicles #evcharging #charging #chargingstations #renewableenergy #energy #economics #solar #photovoltaics #pv #wind #climatecrisis https://lnkd.in/ddE-su9w