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While Li Auto claims that it is offering the insurance subsidy to celebrate the milestones in the deliveries of its L-series models, it is more likely to be an effort to maintain current sales momentum. (Image credit: CnEVPost) Li Auto (NASDAQ: LI) has begun offering customers a limited-time insurance subsidy to maintain sales momentum, even though the company is facing capacity bottlenecks in deliveries. Customers who purchase any of Li Auto’s currently on-sale models between August 30 and September 30 can receive a subsidy of RMB 10,000 yuan ($1,370) when they purchase auto insurance from one of the company’s partner…

The new generation of eco-friendly heat pump water heaters will reduce your home’s emissions while also shrinking your utility bills. Of all the appliances that compete for a homeowner’s attention, from vacuum cleaner robots to video-enabled door locks that double as security guards, the standard 50-gallon water heater is the most likely to be ignored. Hidden from view in the basement or a dark utility closet, the tall metal cylinder that heats water for our sinks and showers typically functions reliably for a decade or more with little or no maintenance. Image courtesy of Rheem. Also see: “A Heat Pump…

Listen to a recap of the top stories of the day from Electrek. Quick Charge is available now on Apple Podcasts, Spotify, TuneIn and our RSS feed for Overcast and other podcast players. New episodes of Quick Charge are recorded Monday through Thursday and again on Saturday. Subscribe to our podcast in Apple Podcast or your favorite podcast player to guarantee new episodes are delivered as soon as they’re available. Stories we discuss in this episode (with links): Subscribe to the Electrek Daily Channel on Youtube so you never miss a day of news Follow Mikey: Twitter @Mikey_Electric Listen & Subscribe: Share your thoughts! Drop us…

Gotion’s net profit for the first half of the year reached RMB 209 million, up 223.75 percent year-on-year. Volkswagen-backed Chinese power battery giant Gotion High-tech saw its second-quarter net profit jump as it saw shipments grow and costs fall. Gotion’s net profit attributable to shareholders reached RMB 209 million ($28.7 million) in the first half of the year, up 223.75 percent year-on-year, according to its semiannual report released last night. Considering the company’s net profit of RMB 756.1 million in the first quarter, that means it had a net profit of RMB 133 million in the second quarter, up 311.69…

Neta has announced the closing of a RMB 7 billion Crossover round of financing, without revealing any other details about the funding. (Image credit: CnEVPost) Neta Auto, the new energy vehicle (NEV) brand of Chinese electric vehicle (EV) company Hozon Auto, has closed a new round of funding, the first in the past year. Neta closed a Crossover round of funding in the amount of RMB 7 billion ($960 million), the company announced last night. Neta did not release any other details about the financing, including who the investors were. Crossover rounds are different from the common Series A, B,…

Ford Pro is a subdivision of Ford and focuses its resources primarily on the technology sector for commercial applications. The division centers on fleet management tools, telematics, and other tech services. With the relatively recent product launches of the Ford F-150 Lightning and E-Transit, Ford has a responsibility to provide reliable and accessible charging for its commercial clients. That’s where Ford Pro comes into play. Ford Pro recently introduced an updated lineup of EV chargers specifically for fleet uses. The units include an 80 amp (19.2 kilowatt) AC charger and two DC fast chargers. Ford’s 80-amp charger, dubbed the ‘Series…

The global electric bicycle market has seen remarkable growth in recent years, as more and more people embrace alternative transport, especially in the urban setting. Indeed, the technology found on some e-bikes of today was deemed unimaginable a decade or so ago, and it appears that the industry shows no signs of slowing down as the global e-bike market is expected to grow to a whopping $120 billion by 2030.  A report published by Fortune Business Insights highlights huge potential for the electric bike market which was valued at $37.47 billion in 2022. As of 2023, the market has been valued…

Ford Motor Company has announced that Germany is the next market where customers will gain access to its BlueCruise driver assistance technology. Following approval, Ford drivers in Germany can now take advantage of true hands-free driving on certain roadways. Ford may be an American automaker, but its status as a global name in vehicles hasn’t wavered much recently, especially as the company continues to embrace a full transition into electrification. Germany is a very loyal people when it comes to local automakers, and on any trip around the country, you are sure to see a majority of people driving Mercedes-Benz,…

Model 1 Commercial Vehicles, America’s largest bus and transportation services dealer, has announced the sale of 403 new Ford E-Transit passenger vans to the California Vanpool Authority (CalVans). CalVans is a public transit agency that offers a vanpool program to California commuters. The company connects residents in areas with low population density with employment centers, meeting the needs of farming community and its workers in particular. CalVans’ fleet of Ford E-Transit vans was upfitted by Forest River Bus, a company owned by Berkshire Hathaway. The fleet includes both 9-person and 12-person passenger vans upfitted for different configurations and route needs,…

EVs top 5% of the market in 23 countries. A study looks at Tesla range degradation related to fast-charging. And Mercedes paints a more complete picture of how its American charging efforts might fit together. This and more, here at Green Car Reports.  As an American EV fast-charging network is being put together by seven automakers, including Mercedes-Benz, the German automaker confirmed Monday that its upcoming Mercedes’ High-Power Charging Network will be “an additional key component of the company’s overall electrification strategy”—meaning it will be differentiated from and in addition to the other effort. Mercedes’ own network will include more…