Investor Ideas Climate Change and CleanTech Podcast-Looking at Gas Prices and Electric Vehicles: (NASDAQ: $SOLO) (NYSE: $GM) (NASDAQ: $TSLA)
Delta, Kelowna, BC –May 1, 2019 https://www.investorideas.com, a global news source covering leading sectors including climate change and clean-tech releases today’s edition of Investorideas.com Climate Change and CleanTech Podcast - climate news and solutions, stocks to watch plus insights from thought leaders and experts.
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Read this in full at https://www.investorideas.com/news/2019/renewable-energy/05011CleanTech-SOLO-GM-TSLA.asp
Today’s podcast overview/transcript:
Good afternoon and welcome to the latest episode of the Investorideas.com Climate Change and CleanTech podcast.
I’m Taylor Van Zant, the host of Investorideas.com Cannabis “Potcast” and your host for today’s edition of our Climate Change and Clean-Tech podcast.
Today we are looking at rising gas prices and the push towards Electric Vehicles. The national gas price average in the US increased five cents to $2.74 a gallon and is eight cents more than the same time last year, according to data from AAA. The rate is 28 cents higher versus a month ago, and this data alone is already a month old. Since then gas has continued to rise above analyst expectations and shows no signs of slowing down. You can read a few pieces which describe this trend in more detail from USA Today, Global News and CBC, which all say roughly the same thing; gas prices are rising faster than anticipated and both Canadian and US Governments are seeing some serious push back and a demand for lower gas. While it would be ideal for policy makers to step in to solve this problem, that outcome seems unlikely this summer where gas prices are expected to rise even higher.
Here at Investorideas we think this is bull$*it, and we can do better.
In Canada, and specifically BC, there is some hope for the average driver as the government has, starting today, May 1st, began offering a series of rebates for EV’s. For buying an EV under $45,000 you can be offered a $5,000 rebate and for trading in your old gas car, again another $5,000 rebate. There are other rebates and offers available, but the main idea is to incentivise the switch to EV’s. Global News also did a series of pieces on this describing how this has created a massive demand for EV’s and how car dealers are struggling to keep up with supply.
So what are some of the EV companies on the market today?
Electra Meccanica Vehicles Corp. (NASDAQ: SOLO), a designer and manufacturer of electric vehicles, was recently awarded a patent in China by the National Intellectual Property Administration for the design of its proprietary battery cartridge.
The patent, Chinese Design No. ZL 201830277724.X, is valid for 10 years from the filing date and covers Electra Meccanica’s proprietary battery cartridge design that is an integral feature underlying the Company’s flagship SOLO EV. The patent in China expands upon previous successful battery cartridge patent registrations in Europe, Japan and Canada – with another patent pending in the United States - further strengthening international patent protection for the unique design.
“We are pleased to announce this very important new patent win in China, growing our global intellectual property portfolio to 25 invention and design patent assets that have been filed or issued,” said Jerry Kroll, CEO of Electra Meccanica. “This patent continues to validate the amazing work that our R&D team does every day. We envision our intellectual property portfolio to play an increasingly important role in the future, providing us with an exciting strategic advantage over any new entrants to the space. I look forward to providing our shareholders with further updates as we continue to strengthen our patent portfolio.”
Tesla Inc. (NASDAQ: TSLA) is well aware of the Canadian rebates being offered is focussing on a workaround which allows customers to take advantage of these incentives.The Tesla Model 3 has been too expensive to qualify for the federal EV incentive in Canada due to the restrictions the Canadian government has in place. In order for a consumer to take advantage of the $5,000 rebate up for grabs, a car must have an MSRP lower than $45,000 (Canadian).
Apparently, Tesla is changing the Model 3 Standard Range to a software-limited 93-mile range vehicle that starts at $44,999, just $1 under the $45,000 limit set by Canada. Since its base price is under $45,000, then the Standard Range Plus also qualifies for the $5,000 incentive.
Tesla has also been a great topic of discussion on another podcast, The Joe Rogan Experience, which already featured Elon Musk and just yesterday featured Rich Benoit who has made his name by refurbishing and rebuilding damaged Teslas, a very unique and thrifty concept for these high quality expensive cars. To check out either interview click the links attached for Rich Benoit or Elon Musk.
General Motors Company (NYSE: GM) recently confirmed its entry to the electric vehicle industry in its quarterly earnings call. As their first release, the company confirmed that it’s looking to make electric vehicles and pickup trucks.
According to Electrek, GM CEO Mary Barra said that the company is interested in creating an “all-electric future” as the company starts to make electric vehicles, including pickup trucks. However, Barra didn’t mention any other details such as development timelines, release dates, and even the new vehicle’s name.
Previously, the CEO noted that they’re going to make an electric truck that’s going to compete with Tesla’s trucks. Currently, Tesla’s progress on their trucks are still far from mass production. The Tesla Semi does have a few units out but the first batch of Semis are strictly for company use. Meanwhile, the futuristic Tesla “Blade Runner” pickup truck has yet to receive any new updates outside its “cyberpunk” design. GM is definitely in a position to overtake Tesla on the electric truck release and announcement.
With gas prices continuing on an uptrend through the summer, it’s time to start looking for alternatives, and it looks like the EV market might finally be ready to take off.
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