Electric Vehicle Financing – Sfeva http://sfeva.org/ Wed, 21 Sep 2022 23:34:44 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://sfeva.org/wp-content/uploads/2021/05/sfeva-icon-150x150.png Electric Vehicle Financing – Sfeva http://sfeva.org/ 32 32 Bird Announces Leadership Changes to Reinforce Focus on Path to Profitability | national company https://sfeva.org/bird-announces-leadership-changes-to-reinforce-focus-on-path-to-profitability-national-company/ Wed, 21 Sep 2022 20:05:30 +0000 https://sfeva.org/bird-announces-leadership-changes-to-reinforce-focus-on-path-to-profitability-national-company/

MIAMI–(BUSINESS WIRE)–Sep 21, 2022–

Bird Global, Inc. (“Bird” or the “Company”) (NYSE: BRDS), a leader in environmentally responsible electric transportation, today announced that its Board of Directors (“Board”) has several key management appointments, effective immediately, to continue the Company’s pursuit of profitability. The board has named Shane Torchiana, currently chairman, as president and chief executive officer, succeeding Travis VanderZanden, who will remain chairman of the board. The board also named Ben Lu as chief financial officer, succeeding Yibo Ling. Additionally, Lance Bradley, currently Senior Vice President, Engineering, has been promoted to Chief Technology Officer.

Travis VanderZanden, Founder and Chairman of the Board, said, “The organizational changes announced today reaffirm our commitment to positioning Bird for long-term profitable growth and we continue to expect positive Adjusted EBITDA in the third quarter. 2022. We believe this long- The planned transition strengthens a world-class management team with a track record of results, public company expertise and a focus on creating value for key stakeholders. Under new leadership, the company will continue to prioritize cost optimization, without losing sight of our long-term commitment to making cities more livable and sustainable.

Mr. VanderZanden, continued, “I would like to thank Yibo for his contributions to Bird over the many years of the company’s growth, our transition to a public company and our initiative on the road to profitability. We wish him the best in his next endeavor.

Shane Torchiana has held various positions within the company, most recently as President, where he was responsible for overseeing the inner workings of Bird’s business, including city growth, policy, fleet managers and city operations. Additionally, he oversaw the company’s non-technology support functions, including People and Legal. Previously, as Senior Vice President, Corporate Development and Strategy at Bird, Mr. Torchiana led fundraising and M&A initiatives, and was a key member of the team that introduced Bird. public at the end of 2021. Prior to joining Bird in 2018, Mr. Torchiana spent eight years at the Boston Consulting Group (BCG) where he led client engagements in strategy, data and analytics and transformation.

Shane Torchiana, President and CEO, added, “I am grateful and honored by the trust Travis and the Board have placed in me to lead this exceptional company that is driving the transition to clean and fair transportation for hundreds of cities and millions of users. we serve. I look forward to working closely with Travis as President, Ben as Chief Financial Officer, and the rest of the management team to continue our focus on profitability.

Ben Lu brings over 25 years of diverse and extensive experience in the technology sector, and was most recently the Chief Financial Officer of Archer Aviation where he strengthened the finance and investor relations functions during its transition to a public company. Prior to Archer, Mr. Lu was Vice President of Finance at Logitech International, where he successfully led a global team responsible for corporate FP&A, investor relations, treasury, global operations and capitalization. supply chain, and more. While at Logitech, Mr. Lu and the finance team helped grow revenue from $2 billion in fiscal 2017 to more than $5 billion in fiscal 2021, while increasing operating profits by $250 million to nearly $1.3 billion over the same period.

The company has also promoted Lance Bradley, currently Senior Vice President, Engineering, to Chief Technology Officer. As Chief Technology Officer, Mr. Bradley will oversee all technology, engineering and product functions, including software, firmware, hardware and vehicle operations, as well as data, security and information technology. Mr. Bradley has been a key member of the company’s engineering team since 2018, holding various positions of increasing responsibility. Prior to joining Bird, Mr. Bradley was a senior software engineer at Riot Games, Inc., where he led data strategy for League of Legends. He previously held technical roles at Scopely, Inc., Geni.comand Zynga Inc.

As part of the announced leadership changes, Justin Kan has resigned from the board, effective immediately. The Company expects to obtain shareholder approval for the election of Mr. Torchiana to the Board of Directors no later than the next annual meeting of shareholders.

Forward-looking statements

This press release contains forward-looking statements. We intend that these forward-looking statements be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933 (as amended, the “Securities Act”) and Section 21E of the Securities Exchange. Act of 1934 (as amended, the “Exchange Act”). All statements other than statements of historical facts contained in this press release may be forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding the company’s path to profitability, expected results for the third quarter of 2022, the new management team, as well as the election of Mr. Torchiana to the Board of Directors. . We have based these forward-looking statements largely on our current expectations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. , including, but not limited to, the following: the impact of the COVID-19 pandemic on our business, financial condition and results of operations; our ability to address the pricing deficit of our New York Stock Exchange (“NYSE”) and meet the continued listing requirements of the NYSE; risks related to our relatively short operating history and evolving new business model, which makes it difficult to assess our future prospects, forecast financial results and assess risks and challenges that we may face; our ability to achieve or maintain profitability in the future; our ability to retain existing passengers or add new passengers; the ability of our fleet managers to maintain vehicle quality or service levels; our ability to assess our business and our prospects in the new and rapidly changing industry in which we operate; risks related to the impact of bad weather and seasonality on our business; our ability to obtain vehicles that meet our quality specifications in sufficient quantities on commercially reasonable terms; our ability to compete successfully in the highly competitive industries in which we operate; risks related to our substantial indebtedness; our ability to obtain additional financing; risks related to the effective operation of mobile operating systems, networks and standards that we do not control; risks related to the action of governmental authorities to restrict access to our products and services in their localities; risks relating to claims, lawsuits, arbitration proceedings, government investigations and other procedures to which we are regularly subject; compliance, market and other risks, including the ongoing conflict between Ukraine and Russia, in connection with any expansion by us into international markets; risks relating to the impact of impairment of our long-lived assets and other significant factors discussed in Part I, Item 1A. “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021 and Part II, Item 1A. “Risk Factors” in our Quarterly Report on Form 10-Q for the period ending June 30, 2022, and described from time to time in our future reports filed with the Securities and Exchange Commission. The forward-looking statements contained in this press release are based on information available to us as of the date of this press release, and while we believe that this information provides a reasonable basis for such statements, such statements are inherently uncertain and Investors are cautioned not to place undue reliance on such statements. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise.

About the bird

Bird is an electric vehicle company dedicated to bringing affordable and environmentally friendly transportation solutions, such as electric scooters and electric bicycles, to communities around the world. Founded in 2017 by transportation pioneer Travis VanderZanden, Bird is growing rapidly. Today, it provides fleets of shared electric micro-vehicles to users in more than 450 cities around the world and offers its products for purchase on www.bird.co and through major retailers and distribution partners. Bird works closely with the cities in which it operates to provide a reliable and affordable transportation option for the people who live and work there.

Show source version on businesswire.com:https://www.businesswire.com/news/home/20220921005957/en/

CONTACT: Investors

Karen Tan

Investor@bird.coMedia

press@bird.co

KEYWORD: FLORIDA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: ENVIRONMENTAL VEHICLES/ALTERNATIVE FUELS EV/ELECTRIC VEHICLES MOTORSPORTS GREEN TECHNOLOGY TRANSPORT BIKE/BIKE TRAVEL

SOURCE: Bird Global, Inc.

Copyright BusinessWire 2022.

PUBLISHED: 09/21/2022 16:05 / DISK: 09/21/2022 16:05

http://www.businesswire.com/news/home/20220921005957/en

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Electric vehicles are changing the transport experience in European cities https://sfeva.org/electric-vehicles-are-changing-the-transport-experience-in-european-cities/ Mon, 19 Sep 2022 22:00:42 +0000 https://sfeva.org/electric-vehicles-are-changing-the-transport-experience-in-european-cities/

Electric vehicles (EVs) are reshaping the urban environment for the better, helping city dwellers breathe cleaner air and lower their carbon emissions.

City councils across Europe have implemented measures to boost the uptake of electric vehicles as part of efforts to reduce the number of combustion engines on the roads and the continent has some of the most electrified cities in the world. .

In this article, PYMNTS looks at three European cities that have been at the forefront of the electric vehicle revolution and some of the initiatives that are helping the continent on the path to a more sustainable electric future.

amsterdam

As part of the city’s ambitious plan to achieve net zero carbon emissions by 2025, Amsterdam has introduced several incentive schemes for electric vehicles to add to the already pro-electric environment in the Netherlands. .

As well as being able to benefit from national incentives such as a reduction in vehicle tax and government-funded subsidies for electric taxis and delivery vans, drivers in Amsterdam are further encouraged to switch to electricity through a series of local programs.

The city has implemented measures that include parking privileges for emission-free taxis, clean zones to keep polluting vehicles away, and even the exclusion of parking permits for gas-powered vehicles.

Of course, in a city famous for its bikes, electric vehicle technology is also having an impact. Indeed, since 2018, electric bikes have exhausted city ​​bikes in the Netherlands and over half a million e-bikes were sold in the country last year.

London

With 2.6 million registered cars, London is one of the places with the most to gain from electrification efforts.

Additionally, as Transport for London (TfL) has declaredall Londoners live in areas that fall short of the World Health Organization (WHO) target for particulate matter and nitrogen dioxide, making the transition to electric vehicles an urgent public health concern.

With the lives of Londoners at stake, the city’s mayor, Sadiq Khan, has stepped up efforts to reduce the presence of polluting vehicles in the city. Currently, TfL is examining the possibility of extending the Ultra Low Emission Zone (ULEZ), where charges apply to anyone driving older, more polluting vehicles, to the whole city in 2023.

Read more: UK e-scooter regulations create opportunity and uncertainty in the micromobility sector

In addition to Khan’s clean air initiatives, private sector players like Uber have also stepped up efforts to put more electric vehicles on London’s streets.

The global ride-sharing company has declared that “London is the global leader in Uber’s electrification efforts with more electric vehicles on Uber in London than any other city on the app.” The company said it is on track to have 10,000 electric vehicles in the city by the end of this year and expects all Uber vehicles in London to be fully electric by 2025.

Learn more: Mobility Weekly: Madrid regulates, London electrifies

To help Uber drivers make the switch, the company has partnered with Nigerian vehicle finance startup Moove to offer a rent-to-own scheme to drivers who will see Uber contribute to their weekly reimbursements.

stockholm

Stockholm is one of the most advanced cities in the world when it comes to moving away from fossil fuels, with plans that all of its public transport runs on electricity or biodiesel by 2025.

In fact, Sweden in general has had some of the highest EV adoption rates in the world. In August, Mobility Sweden reported that 28% of all new car registrations were for fully electric vehicles, with hybrids accounting for a further 18%.

In a sign of the strength of the electric vehicle market in the Nordics, Carla, an electric vehicle market, raised $20 million earlier this year to help fund its expansion into the rest of Europe.

Continue reading: Carla’s $20m funding to grow European EV market

To better respond to the growing number of electric vehicle drivers, Stockholm continued to build the infrastructure needed to charge new electric cars.

By 2026, Parking in Stockholm aims to offer charging stations in all its garages and aims for more than 100,000 new electric car charging stations by 2030. This would be equivalent to one EV charging station for every 16 people living in Stockholm County.

For all PYMNTS EMEA coverage, subscribe daily EMEA Newsletter.

New PYMNTS Study: How Consumers Use Digital Banks

A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking, only 9.3% call them their primary bank.

We are always looking for partnership opportunities with innovators and disruptors.

Learn more

https://www.pymnts.com/news/retail/2022/transformation-of-victorias-secret-hindered-by-slow-consumer-spending/partial/

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Solar Finance Program Helps Businesses and Homeowners Make Every Roof Count https://sfeva.org/solar-finance-program-helps-businesses-and-homeowners-make-every-roof-count/ Sat, 17 Sep 2022 20:00:00 +0000 https://sfeva.org/solar-finance-program-helps-businesses-and-homeowners-make-every-roof-count/

An end-to-end solar journey

U-Solar goes beyond simply helping businesses and homeowners finance their transition to using more sustainable energy, shares Mr. Jasper Wong, Managing Director, Head of Construction and infrastructure at UOB.

“Instead of lending on a one-to-one basis, we want to bring ecosystem players together to create an end-to-end solution that connects businesses and consumers across the entire energy value chain. solar,” Wong said.

He outlines three key goals of the U-Solar program, the first of which is to educate businesses and homeowners on how they can achieve greater energy efficiency through the use of solar panels.

“That would translate into cost savings for them, given that electricity tariffs in Singapore are on the rise,” says Wong. In June, the Straits Times reported that the electricity tariff in Singapore had increased by 8% in the third quarter of 2022 compared to the second quarter amid the global oil and gas crisis.

He adds, “The UOB guarantees that the ecosystem partners under the program are reputable companies that can help our end customers achieve at least 20% energy savings.

U-Solar’s second goal is to help its ecosystem partners – from building developers and owners to solar solution providers – grow their businesses. The initiative has 17 partners in the four Southeast Asian markets where it operates.

“The program also creates value for our partners because when they embark on cross-border projects, they can leverage our resource ecosystem to help them grow in the region,” Wong said.

Finally, U-Solar aims to simplify access to financing for end users. Mr. Lim of SolarGy shares that one of the common challenges faced by customers was the lack of access to a financing program to match the payback period of a solar PV system.

“The payback period for a solar photovoltaic system is seven to 10 years. However, hire-purchase loans from banks usually have a repayment period of three to five years and are only based on the cost of the equipment,” says Lim.

The U-Solar program for business owners can typically support up to 70% of the total cost of installing a solar PV system, with a loan term of seven years. For SolarGy, a system that generates 100 kilowatt-peak of electricity starts at $120,000. However, for most businesses, the money saved on their electricity bills is enough to cover monthly payments, Lim says.

“This way, the solar system becomes self-funding and businesses enjoy a higher return on investment as they continue to benefit from energy savings after the payback period.”

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Will Porsche’s IPO be as popular as its sports cars? https://sfeva.org/will-porsches-ipo-be-as-popular-as-its-sports-cars/ Mon, 12 Sep 2022 20:13:16 +0000 https://sfeva.org/will-porsches-ipo-be-as-popular-as-its-sports-cars/

People love Porsche’s cars, but will they love its stock?

volkswagen (VWAGY), the world’s largest automaker by sales and the parent company of Porsche, bets they will. It is moving forward with an initial public offering of shares in the sports car maker which is expected to launch in the coming weeks. The billions expected to be raised will help both companies prepare for a future in electric vehicles.

In the toughest environments for global automakers, Porsche generated accelerated sales and profits. It had a banner year in 2021, selling more than 300,000 cars for the first time, and sales of its all-electric Taycan sedan surpassed its classic 911 model. This was followed by outstanding performance in the first half of this year.

Now, Volkswagen hopes the Porsche IPO can also turn the tide in the toughest market for IPOs in 30 years.

“This is set to be the defining IPO on the continent and around the world this year,” says Matt Kennedy, senior market strategist at Renaissance Capital, IPO specialist and manager of Renaissance. (IPO) ETFs. “It’s a tough market but it’s a crown jewel, so we’ll see.”

Will investors jump on Porsche shares?

Although the brand strongly appeals to investors looking for large, stable companies that offer solid growth, there are caveats. Concerns about a global recession are giving investors pause, as is the lack of voting rights for buyers of the new issue. Volkswagen and Porsche some senior executives, raising concerns about governance disputes.

Volkswagen projects to offer 25% of the non-voting preferred shares of Porsche on the Frankfurt Stock Exchange in late September or early October. He warned that the completion of the offer could be “subject to further developments in the capital market”.

Porsche’s IPO will fund the push for electric vehicles

Part of the proceeds from Porsche’s IPO would help fund Volkswagen’s ambitious five-year, €50 billion spending plan to build more battery factories as it ramps up vehicle production electrical. If the offer is successful, Volkswagen plans to hold a special meeting in December to seek board approval to pay a one-time special dividend to shareholders that would total 49% of IPO proceeds, which would be distributed in early 2023.

Valuing the Porsche IPO at between €80 billion and €100 billion based on enterprise value to earnings before revenue, tax, depreciation and amortization, or EBITDA, multiple of 8 to 10 times, the Morningstar senior equity analyst Richard Hilgert said Porsche’s stake could raise 19 billion euros if the stock price is high. That would make it the biggest German IPO since Deutsche Telekom went public in 1996 with a valuation of $13 billion. The IPO of Italian energy company Enel in 1999 raised $17 billion and currently ranks as the largest European IPO ever.

Prior to the offer, Volkswagen reorganized Porsche’s capital structure into two classes of shares: 50% non-voting preferred stock and 50% voting common stock. Volkswagen also has a two-class share structure with 59% voting common stock and 41% non-voting preferred stock.

The Porsche family takes on a bigger role

The Porsche heirs, through their investment holding Porsche Automobil Holding (POAHY), will acquire up to 25% plus one voting common share at the offer price plus a premium of 7.5%. The holding company will also receive 25% of the non-voting shares. This will give the holding company a total 25% stake in Porsche. The special rights attached to voting shares would allow family members to block proposals that might be favored by a majority.

Porsche Holding owns a 31.9% stake in Volkswagen and Volkswagen owns 100% of Porsche. The planned special dividend will help Porsche Holding pay for its purchase of the voting shares.

After the IPO, Volkswagen will continue to own the majority of Porsche’s preferred and common stock.

The Porsche family will strengthen control of the company founded in 1931 by Ferdinand Porsche 13 years after he was forced to sell the sports car manufacturer to Volkswagen. An attempt by Porsche to buy Volkswagen during the 2007-2009 financial crisis by secretly building up a stake using options and derivatives backfired when banks pulled Porsche’s credit lines and that she couldn’t get more funding.

Volkswagen management told reporters last week that the Qatar Investment Authority plans to buy a 4.99% stake on the open market under a “fundamental investment agreement”, in which an investor subscribes in advance for a certain number of shares before the IPO. Qatar is one of Volkswagen’s largest shareholders and owns 17% of ordinary shares with voting rights.

Timing is a problem with Porsche’s IPO

In promoting the IPO, Volkswagen did not demonstrate the same precision engineering that characterizes its vehicles.

Volkswagen first announced it was considering an IPO for Porsche on Feb. 24, the day Russia invaded Ukraine. It announced it was moving forward with the IPO on September 5, the day Russia cut gas supplies to Europe through its Nord Stream 1 gas pipeline. Investors questioned the moment of the deal as global markets teeter on the brink of recession amid runaway inflation and a looming war-induced energy crisis in Europe.

Corporate governance is also a concern. Porsche chief executive Oliver Blume took over as Volkswagen CEO on September 1 after Herbert Diess was ousted. Delays at its software subsidiary Cariad, which derailed model launches, forced Diess’s departure. Porsche chief financial officer Arno Antlitz is also now chief operating officer at Volkswagen.

“We don’t think investors will like ‘CEO dilution’ just as the company is trying to emancipate itself from Volkswagen AG,” says Daniel Roeska, senior research analyst at AllianceBernstein. “Porsche AG has a problem with overlapping governance and vested interests between Volkswagen, Porsche Holding SE and Porsche anyway – overlapping governance has been one of investors’ main concerns regarding the potential IPO We struggle to see how sharing the CEO between Porsche AG and Volkswagen AG at this point is a good idea for Volkswagen investors or potential Porsche AG investors.

Morningstar’s Hilgert, while a fan of the special dividend Volkswagen plans to pay and the use of proceeds from the IPO to help fund the push towards electric vehicles, expressed concern about “the timing of IPO and current management structure”.

“Market valuations of the automotive sector have been negatively affected by the possibility of a recession in major markets, the shortage of chips, the Ukraine crisis, rising raw material costs, higher prices paid at the pump and other inflationary cost pressures,” says Hilgert.

He also notes that Blume’s dual role as chief executive of both companies “raises conflict of interest issues.”

Still, Hilgert considers it “highly likely” that the IPO will go ahead. Reflecting this result, it lowered its estimate of the fair value of Volkswagen shares to reflect Porsche’s non-controlling 25% stake. At a recent price of $18.53, the ADRs are trading at a 44% discount to his revised fair value estimate of $33 and he considers the 5-star rated Volkswagen a “compelling value”.

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Cadillac Lyriq will recharge Saudi EV space with 2023 launch https://sfeva.org/cadillac-lyriq-will-recharge-saudi-ev-space-with-2023-launch/ Sat, 10 Sep 2022 21:21:28 +0000 https://sfeva.org/cadillac-lyriq-will-recharge-saudi-ev-space-with-2023-launch/

RIYADH: Water desalination in Saudi Arabia has doubled over the past decade to 2.2 billion cubic meters in 2021 from 1.1 billion cubic meters per year in 2010, thanks to a major overhaul of some existing factories and the introduction of new technologies.

For example, Jubail 2, one of the largest water desalination plants in the Kingdom which serves Riyadh and Jubail, has increased its annual production capacity by around 30% to 380 million cubic meters in 2021, compared to less than 300 million cubic meters in 2014.

However, to meet growing domestic water demand, the Kingdom’s desalination industry is ready to consider making another breakthrough.

A brief history described below shows that water desalination plays a vital role in the economy of the Kingdom.

The process of water desalination in the Kingdom dates back to the early 1900s, when Jeddah became the first city to install two private distillation condensers to meet the city’s growing demand.

Yanbu and Jazan, the other coastal cities of the Kingdom, followed the same approach of developing their private seawater distillation condensers until the entire industry was nationalized and regulated by the Ministry of Environment, of Water and Agriculture in 1965.

As the method began to gain popularity in the region, the Saline Water Conversion Corp. was founded as an independent government entity in 1974 to promote and regulate water distillation operations in the Kingdom.

Although it started off as expensive and inefficient, it was crucial to the growing needs of the Kingdom’s population.

In addition, its geographical location puts it at a disadvantage in terms of access to different types of water resources such as, for example, rainfall.

Therefore, his options were limited to shallow and deep groundwater and desalinated water.

The increase in population to 33.5 million in 2018 from just 25.2 million in 2007 has led to a 70% increase in demand for drinking water, according to a research report published in the Journal of Water Process Engineering in 2019.

The report adds that it would be impossible for groundwater to last 50 years at this rate of consumption, highlighting the option of water desalination, which has been strategically considered and implemented by the government.

In 2010, SWCC produced some 1.1 billion cubic meters of water from its 30 desalination plants located on the east and west coasts of the Kingdom, which satisfied around 50% of the Kingdom’s domestic water demand.

The company further improved its capacity to 5.2 million cubic meters of water per day or 1.9 billion cubic meters per year, in 2018.

In 2021, SWCC produced 2.2 billion cubic meters of water and operated 32 production plants. As a byproduct of water distillation, it generated 47 million megawatts per hour of electricity.

In major cities, the desalinated share of total water consumption is quite high, especially in cities like Makkah, Jeddah, and Taif where almost all of their drinking water comes from nearby desalination plants.

The share of Riyadh and the Kingdom was 63-64% in 2020.

Thermal distillation and reverse osmosis are the two most popular methods used to convert seawater into drinking water.

The first uses heat to vaporize the seawater, separating the salt from the water, then the vaporized gas is cooled in the water by condensation.

The latter passes seawater through a semi-permeable membrane that separates the salt from the water, wasting less energy in the process.

Additionally, SWCC participated in two renewable energy projects under development in line with the Vision 2030 plan.

The future of water desalination in Saudi Arabia looks both promising and exciting. Therefore, SWCC aims to use more renewable sources for its water desalination projects, to reduce conversion costs, thereby improving conversion efficiency and simultaneously reducing carbon emissions.

Assuming current population growth rates continue over the next 10-15 years, the Kingdom could need desalinated water capacity of up to 4.5 billion cubic meters per year in 2040, report says extensive research published in 2014. Indeed, production will have to double further compared to the production level of 2021.

No matter how efficient or productive water desalination methods are, at this rate, Saudi Arabia will have to resort to demand reduction methods, whether through awareness campaigns or imposing taxes on high water consumption.

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The EVIE 2022 shortlist revealed! | Current news https://sfeva.org/the-evie-2022-shortlist-revealed-current-news/ Mon, 05 Sep 2022 13:00:00 +0000 https://sfeva.org/the-evie-2022-shortlist-revealed-current-news/

This year’s shortlist Electric Vehicle Innovation and Excellence (EVIE) Awards has now been revealed.

There were a record number of nominations this year, with over 200 submissions selected by our expert jury.

Who will win the coveted prizes will be announced during the Gala dinner and EVIEs 2022 ceremony on October 5, at the Leonardo Royal London St Paul’s Hotel, London, UK. Rewards are part of the Electric Vehicle World Congresswhich will take place on October 5 and 6 by Running±it is publisher Solar Media.

Tickets for the 2022 EVIEs ceremony are now available for purchase, but venue space is strictly limited, so advance booking is strongly advised. Tables will also be sold on a first-come, first-served basis. Table and ticket reservation information can be found here.

The shortlist of EVIEs 2022 is published below:

Best Consumer Proposition (Utilities/Energy)

  • nimble streets
  • Electric Juice by Octopus Energy
  • OVO Drive + Anytime
  • Zap-Map Plus & Premium

Best New Product or Service (C&I and Audience)

  • Fleet Charge
  • Papilio3
  • Parkopedia – Park and Charge
  • Smart solar charging – ev.energy
  • ZipChargeGoHub

Best New Product or Service (National)

  • Egg’s Pay-Monthly Home EV Charger
  • Low carbon events – ev.energy
  • ODSTL and Oxford City Council Gul-e Project
  • Zap-Map Plus & Premium
  • ZipCharge Go

Charging Station Manufacturer of the Year (C&I and Public)

  • CTEK
  • FreeWire’s In-Battery Ultra-Fast Boost Charger
  • Universal EV Foundation High Power Charger
  • EV project
  • Tritium DCFC

Charging station manufacturer of the year (domestic)

  • EO load
  • Indra Renewable Technologies
  • my energy
  • EV project

Charging station network of the year

Charging destination of the year

  • Energy Superhub Oxford – Pivot Power & Oxford City Council
  • InstaVolt – Stroud Park EV Charging Station
  • Shell Refill – Fulham Road
  • The GRIDSERVE Norwich Electric Forecourt®

Entrepreneur of the Year (C&I and Public)

  • ChargedEV
  • Enel X: electrification of Abellio bus depots
  • eSmart Networks Ltd
  • Load Joju
  • sine wave

Entrepreneur of the Year (Domestic)

  • ChargedEV
  • Egg
  • People who load the car

EV Fundraising Deal of the Year

  • On
  • Investment in Power Dot by Antin Infrastructure Partners

EV Marketing/Branding Campaign of the Year

  • Load Side Cats
  • Electric moments
  • First Bus Official COP26 Event – The Future of Public Transport, Showcasing the UK’s Largest Electric Vehicle Charging Hub
  • it pays to JustCharge | JustPark x Visa partnership
  • Uber Green campaign

EV Startup of the Year

  • Flexible Energy
  • went up
  • The EV Cafe
  • ZipCharge

EV less than 30 stars

  • Agnese Chiesa – Marketing Manager at Liberty Charge
  • Evie Kalo – Marketing Director at EVIOS
  • Fergal Harrington-Beatty – Sales Manager at AMTE Power
  • Harry Bleasdale – Commercial Manager at Osprey Charging Network
  • Mark Pearce – Mobility Analytics Team Leader at Hydrock

Fleet Electrification Strategy of the Year

  • Electric Carriage as a Service for National Express in Coventry
  • First Bus – Transforming our flagship depot in Glasgow Caledonia into the largest electric vehicle charging center in the UK.
  • London Borough of Islington
  • The John Lewis Partnership and Flexible Power Systems, Fleet Electrification and Wireless Charging Trial
  • Warrington Zero Emission Bus Project

OEM of the Year (car and bus/commercial vehicle)

  • hyundai
  • LEVC integration of Geotab telematics in its VN5 and TX Taxi and TX Taxi Shuttle vans
  • Mercedes-Benz UK Trucks
  • Volkswagen Australia

Private Sector Infrastructure Strategy of the Year

  • green station
  • InstaVolt
  • Freedom Load
  • MFG EV Power
  • National Grid EV Charger Program

Public Sector Infrastructure Strategy of the Year

Public Transport Authority of the Year

  • first bus
  • Greenlines electric bus project and wider electric bus program
  • London Borough of Islington
  • Nottingham City Council

Special Recognition Award

  • Belinda Cotter – Delivery and Operations Manager at Connected Curb
  • Jordan Brompton – Co-founder and CMO at myenergi
  • Melanie Shufflebotham – COO and co-founder of Zap-Map
  • Vegard Frihammer – founder and CEO of Greenstat ASA

The DiversitEV award

  • Legal Management Connections
  • Electric Miles LTD
  • Global EVA
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Yes, there are car deals for Labor Day this weekend https://sfeva.org/yes-there-are-car-deals-for-labor-day-this-weekend/ Fri, 02 Sep 2022 23:28:24 +0000 https://sfeva.org/yes-there-are-car-deals-for-labor-day-this-weekend/

New-car shoppers may find some relief from high prices this weekend with a number of Labor Day car deals. Unlike the month-long incentives, the best Labor Day car sales are only available for a limited time. For example, Swedish brand Volvo is offering up to $1,250 off its entire 2022 lineup, but only until September 7.

Likewise, Ford is offering a $1,000 bonus for 5 days only on select SUVs here in California. The 2022 Ford Explorer ranks among the best deals this weekend, with the option to stack the $1,000 discount with 2.9% APR financing for 60 months. To put that into perspective, we don’t see any Labor Day offers from Toyota.

Although there are fewer offers due to a shortage of chips, our Labor Day offer coverage has found some head-turning offers. For example, Jeep is offering up to $2,000 off the Grand Cherokee Overland. Truck buyers can get 0% financing for 72 months on the RAM 1500 and receive no payments for 90 days until September 6.

Buying a new Nissan, Kia, Hyundai or Mazda? We don’t see any benefit to buying a car this weekend. The same goes for luxury brands like BMW, Mercedes-Benz and Lexus. That said, placing an order now can give buyers a way to get a discount if they’re willing to wait a bit for the car they want.

2022 Ford Mustang Mach-E

This is because many brands offer price protection programs in case their MSRP prices increase or the incentives dry up. For example, Ford is offering a $500 bonus on 2023 vehicle orders along with the ability to lock in current interest rates for up to 180 days. This could provide a level of insurance for buyers affected by inflation.

EV buyers may want to think twice before buying or leasing. That’s because the Inflation Reduction Act removed a large number of electric cars and plug-ins from a federal electric vehicle tax credit. Volkswagen, Toyota, Subaru and others have been hit hard by the change. For example, rental prices for the Toyota bZ4X have increased by more than $100 per month.

Explore the best Labor Day car deals

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Faraday Future Provides Trading Update https://sfeva.org/faraday-future-provides-trading-update/ Mon, 29 Aug 2022 22:54:00 +0000 https://sfeva.org/faraday-future-provides-trading-update/

– ieFactory California nearing completion –

– Ongoing fundraising effort with multiple parties –

– Start of production and deliveries expected in the fourth quarter of 2022 –

LOS ANGELES, August 29, 2022–(BUSINESS WIRE)–Faraday Future Intelligent Electric Inc. (“Faraday Future” or the “Company”) (NASDAQ: FFIE), a California-based global smart and shared electric mobility ecosystem company, provided a business update then that it strives to raise additional capital and launch the FF 91.

The company’s ieFactory California in Hanford, CA has made continuous progress in a challenging macro environment, and all equipment required to start production (“SOP”) is on site. Some equipment needed for the full production ramp-up is expected to arrive later this year as planned, and should not significantly affect the timing or pace of the production ramp-up. With the equipment in place, Faraday Future has made substantial progress in installing the equipment in the vehicle manufacturing areas of the plant. “The ieFactory California team is producing high quality production vehicles for testing and validation, and I am very pleased to see the progress we have made in preparing the production area for the SOP. I would like to thank our Hanford team and our exceptional contractors.Together, we are building a world-class luxury automotive factory,” said Dr. Carsten Breitfeld, Global CEO of Faraday Future.

The company’s current business plan calls for it to launch (begin delivery) of the FF 91 in the fourth quarter of 2022, with testing, validation and certification also being completed in the fourth quarter. “We noted earlier some issues related to supply chain issues that affected our FF 91 schedule. We announced the successful raising of $52 million in convertible note commitments and are continuing financing discussions with several parties, but delays in our expected timeline to close these potential transactions also impacted our launch schedule,” continued Dr. Breitfeld. The Company has taken steps to preserve its cash position, including reducing expenses , extending payment cycles and implementing other similar measures As of August 26, 2022, the Company’s U.S. cash balance was $47.2 million and restricted cash was $1.5 million. The timing and amount of additional funds raised could impact the timing and pace of our production ramp, which for could have a significant impact on planned production volumes.

“The FF 91 will be the first premium, high-performance, luxurious and intelligent electric vehicle and will redefine customer expectations for the driver and passenger experience. When we launch in the fourth quarter, we will show consumers what the future of connectivity, smart mobility can be,” concluded Dr. Breitfeld.

ABOUT FARADAY FUTURE

Faraday Future is a class-defining luxury electric vehicle company. The company has launched many innovations regarding its products, technology, business model and user ecosystem since its inception in 2014. Faraday Future aims to continuously improve the way people move by creating a mobility ecosystem before -thinking that integrates clean energy, AI, the Internet and new models of use. Faraday Future’s first flagship is the FF 91 Futurist.

NO OFFER OR SOLICITATION

This communication will not constitute an offer to sell or the solicitation of an offer to buy securities, and there will be no sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction.

FURTHER INFORMATION

The Company intends to file a proxy statement on Schedule 14A, an accompanying WHITE proxy card and other relevant documents with the Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies from the shareholders of the Company for the special meeting of shareholders. SHAREHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE COMPANY’S DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR ADDITIONS) AND ALL OTHER DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Shareholders may obtain, free of charge, a copy of the definitive proxy statement, an accompanying WHITE proxy card, any amendments or supplements to the definitive proxy statement and other documents filed by the Company with the SEC on the SEC website at www.sec.gov. Copies will also be available free of charge by contacting the Company’s Investor Relations Department at ir@faradayfuture.com, as soon as reasonably practicable after such materials are electronically filed with or furnished to the SEC. .

PARTICIPANTS IN THE SOLICITATION

The Company, its directors and certain of its senior officers participate in soliciting proxies from the shareholders of the Company with respect to matters to be considered at the special meeting of shareholders of the Company. Information regarding the direct and indirect interests, through stockholding or otherwise, of the directors and officers of the company is included in the company’s annual report on Form 10-K for the fiscal year ended December 31, 2021, filed with the SEC on May 13, 2022, the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, filed with the SEC on August 15, 2022, and in the Company’s Current Reports on Form 8 -K filed with the SEC from time to time. Changes in the direct or indirect interests of directors and officers of the Company are set forth in documents filed with the SEC on Initial Beneficial Ownership Statements on Form 3 or Change of Ownership Statements on Form 4. These documents are freely available as described above. Updated information regarding the identity of potential participants and their direct or indirect interests, through stockholding or otherwise, in the Company will be set forth in the proxy statement for the special meeting of shareholders of the Company and other relevant documents to be filed with the SEC, if and when they become available.

FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “believe”, “expect”, “anticipates”, “anticipates”, “anticipates”, “plans”, “intends”, “believes”, “seeks”, “may”, “will”, “should”, “future”, “proposes “and variations of these words or similar expressions (or negative versions of these words or expressions) are intended to identify forward-looking statements and include (among other things) statements regarding the expected timing of the launch of the FF 91 and FF 81 vehicles and the planned production capacity of the Hanford company, a California establishment. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, which could lead to actual results or results. differ materially from those discussed in the forward-looking statements. Important factors, among others, that could affect actual results or results include the Company’s ability to enter into the aforementioned convertible notes, raise additional convertible notes and/or other financings, the failure of which could cause the Company to seek protection under the Bankruptcy Code; the company’s ability to obtain financial viability exception or shareholder approval under Nasdaq Rule 5635 to issue all shares issuable upon conversion of the previously announced convertible note financing; the Company’s ability to remain in compliance with The Nasdaq Stock Market LLC (“Nasdaq”) listing requirements and SEC reporting obligations, and to continue to be listed on the Nasdaq; the outcome of the SEC’s investigation of the matters investigated by the special committee; the implementation of the actions of the Special Committee and the related internal review by the Company; the Company’s ability to execute its development and commercialization plans for its vehicles and the timing of these development programs; the Company’s estimates of the size of markets for its vehicles and the cost of bringing such vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the success of other competing manufacturers; the performance and safety of the Company’s vehicles; potential litigation involving the Company; the outcome of future financing efforts and general economic and market conditions affecting demand for the Company’s products; and the Company’s ability to attract and retain employees. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, and other filings. by the company from time to time. time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. except as required by law. .

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220829005723/en/

contacts

Investors (English): ir@faradayfuture.com
Investors (Chinese): cn-ir@faradayfuture.com

Media:
John Schilling: john.schilling@ff.com
Tim Gilman: tim.gilman@ff.com

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EXPLAINER: California’s electric vehicle requirements hit some hurdles https://sfeva.org/explainer-californias-electric-vehicle-requirements-hit-some-hurdles/ Fri, 26 Aug 2022 00:27:00 +0000 https://sfeva.org/explainer-californias-electric-vehicle-requirements-hit-some-hurdles/

Comment

DETROIT – California will require all new cars, trucks and SUVs sold in the state to run on electricity or hydrogen by 2035 as part of an ambitious move away from gasoline-powered vehicles and the pollution they emit.

The requirements come in phases from 2026, and it will take 13 years for them to become fully effective. But there are many challenges to meet them.

Electric vehicles now cost much more than gasoline-powered vehicles. There are shortages of precious metals needed for their batteries. The United States has little battery manufacturing capacity.

But a lot can change in 13 years. Here’s what we know about problem areas and what’s being done about them:

WILL CAR MANUFACTURERS BE ABLE TO MANUFACTURE ENOUGH ELECTRIC VEHICLES?

More than likely. In the first half of this year, electric vehicle sales accounted for about 15% of the new vehicle market in California. New vehicle sales in the state normally hover around 2 million per year. That’s roughly a 1.5 million difference that needs to be made up by 2035. But almost every day, Automakers announce new electric vehicle models, battery factories and assembly factories. Ford, General Motors, Toyota, Hyundai-Kia, Stellantis and VinFast have announced plans for 10 US battery factories.

“New factories are coming in and old factories are being converted,” said Sam Fiorani, vice president of AutoForecast Solutions. “Plans are in place for a large quantity of vehicles to be ready for US and global markets.”

The big ifs, however, are whether there will be enough precious metals, like lithium, to make the batteries, and whether prices for electric vehicles will come down fast enough. Laurie Holmes, Kia’s senior director of government affairs, told California officials on Thursday that the industry could struggle to meet sales targets. She urged the state to support incentives for consumers to buy electric vehicles and help set up a charging system.

CAN THE ELECTRICAL NETWORK SUPPORT THE LOAD?

The California Energy Commission expects electric vehicles to add only a small amount of energy over the next 10 years. The commission estimates that 3.7 million light-duty electric vehicles will be in use in the state in 2030, and they will only account for about 2.6 percent of peak-hour electricity consumption. David Reichmuth, principal engineer at the Union of Concerned Scientists, said electric vehicle charging can be scheduled for off-peak hours, particularly during the day when wind and solar power are more available. Utilities will be able to send messages to cars to start or stop charging based on electricity demand, he said.

WON’T ELECTRIC VEHICLES BE TOO EXPENSIVE FOR MANY PEOPLE?

It’s possible, although prices are coming down, and are expected to come down as costs are spread across multiple vehicles and new battery chemistries are developed that don’t use a lot of precious metals. expensive. Currently, most US EVs are aimed at high-income luxury or pickup truck buyers and start at $40,000 or more, out of reach for many. But prices are starting to drop. For example, General Motors says it will offer a small Chevrolet SUV with a starting price of around $30,000 that should travel nearly 300 miles (500 kilometers) per charge. The federal government next year will provide tax credits of $7,500 for electric vehicles made in North America, driving down purchase prices. And California offers cash, rebates and special financing for low-income buyers. Additionally, EV buyers will save on fuel and maintenance costs.

DO EVS REALLY POLLUTE LESS, CONSIDERING THE MANUFACTURING AND MINING OF METALS FOR BATTERIES?

Several studies, including some by the Massachusetts Institute of Technology, say yes. Although there is pollution from mining, electric vehicles are so much cleaner than gas-powered vehicles on the road that they only need a short time to compensate for mining. A study published this summer by the Union of Concerned Scientists looked at lifetime emissions, including the manufacturing process.

“In total, the lifetime emissions of an electric car or an electric pickup are half those of a gasoline-powered vehicle,” Reichmuth said. The gap between gas and electricity will widen as more electricity comes from renewable sources such as wind and solar, he said.

“There is nothing we are going to do about aggressively promoting electrification that will be worse for the planet than burning fossil fuels,” said Margo Oge, president of the International Council for Clean Transportation and former top official of the United States Environmental Protection Agency. official.

WILL OTHER STATES FOLLOW CALIFORNIA?

Currently, 17 other states have adopted California’s greenhouse gas emission requirements, most of them on the coasts. In total, they represent about 40% of all new vehicle sales in the United States. Washington state has already started the process to track electric vehicle sales requirements, and more are expected to do so. It will take other states longer to follow the process, and many don’t have the demand for electric vehicles or the charging infrastructure that California has.

Ronayne reported from Sacramento, Calif.

]]> Elon Musk can make an even smarter offer now https://sfeva.org/elon-musk-can-make-an-even-smarter-offer-now/ Sat, 20 Aug 2022 08:27:00 +0000 https://sfeva.org/elon-musk-can-make-an-even-smarter-offer-now/

Comment

Indonesia wants Tesla Inc. to make cars – and batteries – locally. It might be the smartest bet Elon Musk can make, and it won’t be that difficult.

“What we want is the electric car, not the battery. For Tesla, we want them to build electric cars in Indonesia,” President Joko Widodo said in an interview with Bloomberg News editor. , John Micklethwait The country wants a “huge ecosystem of electric cars”.

Jokowi has the right idea. If companies can manufacture batteries there and use the country’s vast nickel resources, they can also be part of the solution that helps the country go green. As part of its electrification roadmap, Indonesia aims to manufacture around 400,000 electric vehicles by 2025 and multiply them thereafter. It strives to create a domestic electric vehicle supply chain, from metal mining to smelting and battery-ready precursor products.

In recent months, Tesla Inc. and battery giants like China’s Contemporary Amperex Technology Co. and South Korea’s LG Energy Solution Ltd. poured billions of dollars into the country to set up nickel processing and power supply projects as part of the global raw materials race. warms up. It has effectively become a promising hedge against global supply chain problems and shortages. Jakarta, shrewdly enough, now wants to leverage its position.

Indonesia does not ask much. Although the country’s auto market is barely of significant size, it is growing, in part because manufacturing cars isn’t difficult or burdened with the bureaucracy that holds back other emerging markets. The world’s largest automaker, Toyota Motor Corp., dominates the market, along with other Japanese automakers. Last week, China’s national unit SAIC-GM-Wuling Automobile Co. launched a locally-made small electric vehicle – the AirEV. Other Chinese manufacturers have also recently set their sights on the market, while South Korea’s Hyundai Motor Co. said it was also working on a locally assembled electric vehicle.

The Southeast Asian nation has had car manufacturing incentives in place for several years. He used these requirements for decades to boost the production of domestic industry. Companies can bring in completely knocked down kits, or CKDs, i.e. parts from overseas which are then assembled in the country, or incomplete kits containing Indonesian components. The percentage of local content determines the rates, which are not prohibitive.

Indonesia has long been known for its infuriating bureaucratic obstacles to foreign businesses. Jokowi has spent much of his presidency trying, with mixed results, to lower barriers to investment. The government has revised regulations and set policies for electric vehicles, simplifying their local production. Tax and non-tax incentives are now in place, such as tax deductions and holidays on materials and machinery related to electric vehicles, certifications and preferential financing rates. Altogether, the complete plan paves the way for foreign players. Consumers are encouraged to buy green cars, which helps create a local market.

Leveraging these requirements, Tesla could easily meet Jokowi’s challenge by bringing in CKD kits from China – the global supplier of electric vehicle parts – to build the Model 3, or perhaps a new, smaller, larger vehicle. basic. It won’t be an expensive proposition.

The same was true in China, where Musk took advantage of all the grants on offer, including loans, cheaper land and production incentives to help Tesla make millions of electric vehicles. In doing so, he helped elevate both China’s electric vehicle status and that of his own company, and catered to the needs of an enthusiastic consumer base. It now exports automobiles to the rest of the world. Making a splash in the Indonesian market, with barely a million cars a year (compared to the 20 million made in China), can be easily accomplished.

This could pave the way for Musk to manufacture batteries, which is the ultimate – and more lucrative – endgame.

More from Bloomberg Opinion:

• Tesla can win in China, on Beijing terms: Anjani Trivedi

• Tesla is hedging its global supply chain bets: Anjani Trivedi

• Electric car subsidies are not the best climate policy: Tyler Cowen

This column does not necessarily reflect the opinion of the Editorial Board or of Bloomberg LP and its owners.

Anjani Trivedi is a Bloomberg Opinion columnist covering industrial companies in Asia. Previously, she was a reporter for the Wall Street Journal.

More stories like this are available at bloomberg.com/opinion

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