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Tesla eyes manufacturing in China
 by Staff Writers
 New York (AFP) June 22, 2017


Electric vehicles inefficient way to reduce CO2 emissions: study
Montreal (AFP) June 22, 2017 - Subsidizing the purchase of electric cars in Canada is an inefficient way to reduce greenhouse gas emissions that is not cost effective, according to a Montreal Economic Institute study released Thursday.

"It's just a waste," said Germain Belzile, one of the authors of the study, which examined electric vehicle subsidies offered by Canada's two biggest provinces Ontario and Quebec, which can rise to as much as a third of a vehicle's purchase price, depending on the model.

"Not only do these programs cost taxpayers a fortune, but they also have little effect on GHG emissions," he said.

The government of Quebec has set a goal of having one million electric and hybrid vehicles on its roads by 2030, up from 6,000 currently. Ontario has the same objective.

On this basis, said Belzile, carbon emissions would fall by about 3.6 percent in Quebec and 2.4 percent in Ontario.

The two provinces have said they aim to reduce CO2 emissions by about 37 percent by 2030, from 1990 levels.

Quebec is offering rebates of up to Can$8,000 for the purchase of new electric or rechargeable hybrid cars -- which are significantly more expensive than their gas-guzzling counterparts -- while Ontario is offering to refund Can$14,000 of the purchase price.

The study estimates that these subsidies cost taxpayers Can$523 per tonne of GHG not emitted in Ontario and Can$288 in Quebec.

By comparison, a cap and trade system for big polluters in Quebec and the US state of California, which Ontario is due to join soon, costs a mere Can$18 per tonne.

In subsidizing electric vehicle purchases, Ontario and Quebec end up spending up to 29 times and 16 times, respectively, the carbon market price for each tonne of GHGs eliminated.

"Common sense, both economically and ecologically speaking, argues in favor of reducing these subsidies, and even eliminating them," the study concludes.

Tesla said Thursday it was considering the possibility of manufacturing in China as it ramps up for expansion of its line of electric-powered cars.

The California company founded by entrepreneur Elon Musk said in an email it was in talks with the Shanghai Municipal Government "to explore the possibility of establishing a manufacturing facility in the region to serve the Chinese market."

The statement said Tesla would make a decision on production in China by the end of the year.

"Tesla is deeply committed to the Chinese market, and we continue to evaluate potential manufacturing sites around the globe to serve the local markets," the statement said.

"While we expect most of our production to remain in the US, we do need to establish local factories to ensure affordability for the markets they serve."

Shares in Tesla have surged over the past few years on expectations that the manufacturer will lead a new wave of electric vehicles.

Tesla's market capitalization has topped $60 billion, ahead of both General Motors and Ford, which produce far more vehicles.

Last year Tesla sold 84,000 cars, generating $7 billion in revenue. Most of its vehicles have a hefty price tag of over $70,000.

The company is on track to begin production in July of the Model 3, which is aimed at the middle market, making the electric car accessible to a broader swath of consumers.

Last year, Musk announced Tesla plans to build a new pickup truck, an urban bus, and launch a sharing system of self-driving cars.

The projects are part of what the billionaire entrepreneur called a "secret" second master plan for the US electric car manufacturer.

lo-rl/adm

TESLA MOTORS

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Wireless charging of moving electric vehicles overcomes major hurdle in new Stanford study
 Stanford CA (SPX) Jun 16, 2017
 If electric cars could recharge while driving down a highway, it would virtually eliminate concerns about their range and lower their cost, perhaps making electricity the standard fuel for vehicles. Now Stanford University scientists have overcome a major hurdle to such a future by wirelessly transmitting electricity to a nearby moving object. Their results are published in the June 15 edi ... read more
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