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Michigan will become the 12th state to pass landmark legislation that sets a 100% clean electricity deadline for utilities. The legislation passed by the Michigan House and Senate, which will imminently be signed by Governor Gretchen Whitmer (D-MI), is known as the Clean Energy Future Plan. It will require Michigan utilities to source 15% of electricity from clean energy sources such as wind or solar through 2029. That requirement will then increase to 50% by 2030, 60% by 2035, and 100% by 2040. The package of bills include the increase of utility energy efficiency requirements and it ensures that the state’s utility…
Kona is one of the most trusted brands in the world of mountain biking, and has decades of experience under its belt. That said, the brand continues to be a pioneer in the MTB industry, even now as electric mountain bikes are taking the trails by storm. Kona’s been making mountain bikes since 1988, so it goes without saying that it’s got this dialed down into an art form. Transitioning to e-MTBs is no mean feat, and Kona looks to offer a solid option with its newest model, the Remote. Now, the Remote is by no means a performance-oriented, race-inspired…
Toyota’s bulking out its hybrid lineup with two more high-mpg hybrid-only models—and one of them is a market bestseller. Genesis is planning a super-size electric SUV. And what goes into Tesla range estimates for trip planning? This and more, here at Green Car Reports. Just ahead of the LA auto show, Toyota has revealed a redesigned ninth-generation Camry, and it’s taking the bestselling car in the U.S. all-hybrid. The 2025 Toyota Camry hybrid also gets the combination of available all-wheel drive with the hybrid system for the first time. Toyota is slicing up the roomy crossover SUV market even more…
Tesla has been vague on how its vehicles estimate driving range, but a recent social media post provides a bit of clarity. A recent post from the automaker’s official account on X, the social media site previously known as Twitter and now owned by Tesla CEO Elon Musk, lists a number of factors that Tesla’s navigation system takes into account when estimating whether enough range is available to reach a given destination. The list includes environmental factors like wind speed and direction, ambient temperature, and humidity and pressure. Cold weather affects each EV model differently, studies have found, but the…
In the world of urban mobility, bigger isn’t always better. The growing popularity of compact electric scooters and bicycles is a testament to this. Indeed, people are moving away from the use of cars and vans in the urban setting, and hopping aboard two-wheelers for their daily mobility. This is especially true in countries in Asia and Europe. In fact, it’s estimated that e-bikes will overtake regular bikes in terms of sales in countries like Germany. It goes without saying that as demand for e-bikes increases, so too do the options in the market. We’re seeing new models from all…
Xpeng is confident of achieving rapid volume growth and a significant rebound in gross margin in the fourth quarter. (Image credit: CnEVPost) Xpeng (NYSE: XPEV) announced its Q3 earnings today and held an analyst call afterwards. Here’s what the company mentioned on that call, with the latest at the top. Xpeng expects vehicle margins to turn positive in the fourth quarter, supported by a better product mix. All of Xpeng’s models will benefit from reduced technology as well as business costs, though the company will focus that effort more on its top-selling models. Xpeng’s guidance for the fourth quarter includes…
The Genesis GV90, a “super-large” electric SUV destined for the U.S., will be built in South Korea starting in 2026, Korean Car Blog reported this week. Genesis parent Hyundai on Monday held a groundbreaking ceremony for a new EV-specific plant in Ulsan, South Korea. The automaker said the plant will start mass-producing vehicles in 2026, with a targeted annual capacity of 200,000 vehicles. The EV plant joins other facilities at the Ulsan site, where Hyundai has been producing cars since 1968. A Hyundai press release stated that a Genesis electric SUV will be the first model assembled at the new…
“Promotional activity appeared more aggressive than anticipated,” Deutsche Bank said. Xpeng (NYSE: XPEV) reported third-quarter earnings today, and as usual, Deutsche Bank analyst Edison Yu’s team shared their first look. Here’s what came out of the team’s research note. XPeng delivered somewhat mixed results and guidance albeit against rising investor expectations recently. Deliveries for 3Q23 were already reported at 40,008 units, leading to revenue of 8.5bn RMB vs. consensus/DBe 8.6/8.8bn, hurt by lower than expected ASP. Gross margin remained weak, increasing only 120bps QoQ to -2.7%, missing our 0.8% estimate, driven by lower vehicle margin of -6.1% vs. our -1.9%.…
Xpeng guided for fourth-quarter deliveries in the range of 59,500 to 63,500 units, meaning it expects to deliver a total of 39,498 to 43,498 vehicles in November and December. Xpeng (NYSE: XPEV) posted third-quarter revenue that was slightly below Wall Street’s expectations, with gross margin remaining negative as vehicle margin seeing only a modest improvement. The Chinese electric vehicle (EV) maker reported revenue of RMB 8.53 billion ($1.17 billion) in the third quarter, slightly below market expectations of RMB 8.58 billion. That was up 25 percent year-on-year and up 68.48 percent from the second quarter, and sits near the lower…
Despite Tesla’s long-awaited Cyberquad electric ATV likely still having a long wait ahead of us, it’s actually been two years since the company rolled out a smaller version designed for young riders. But after a Consumer Product Safety Commission recall put the kibosh on the original version, Tesla has returned with an updated model that managed to avoid the same laws that quashed the original. The Cyberquad for Kids may look like a Tesla, but it was in fact created from a partnership between Tesla Design Studio and the popular children’s toy maker Radio Flyer. The original model proved incredibly…