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.
Listen to the podcast:
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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