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Montana governor vetoes bill raising fees on electric vehicles | 406 Politics

Montana Gov. Greg Gianforte vetoed a bill Thursday that would have significantly increased fees on electric vehicles.

House Bill 188 from St. Regis Republican Denley Loge would have imposed fees on top of annual registration costs on all types of electric vehicles, including cars, trucks and motorhomes. The goal of the bill, according to supporters, was to tap electric vehicles for funding state highways as other vehicles do via gas taxes.

The governor indicated in his veto letter that he believed the fees in HB 188 were too high.

“While I support the intent of the bill to require electric vehicle owners to pay what is essentially a user fee into the state’s highway trust fund, as do other vehicle owners that consume gasoline, HB 188 would establish some of the highest fees in the nation,” the letter states. “The automobile industry is poised to offer more electric options and these fees would discourage the purchase of these vehicles in Montana.”

Opponents of HB 188 have also criticized the fees as far too high, although some said the concept of a fee could be palatable. Light vehicle owners would pay an additional $195 annual fee while a heavy truck owner would pay up to $375 annually.

Gianforte noted in the veto letter that the $375 fee could capture many common trucks and would be the highest in the nation by almost double. That concept “goes against my plan to ensure Montana maintains a competitive tax environment and is open for business,” the letter states.

Electric vehicles getting buzz in the Twin Tiers

ELMIRA, N.Y. (WETM) — After Ford unveiled their new electric F-150 Lightning pickup truck on Wednesday night, the question is: how will our current infrastructure and businesses make the switch to accommodate electric vehicles in the Twin Tiers?

Traditionally, pickup trucks are thought to be gas-guzzlers. Now, that narrative is changing.

The future of the auto industry seems to be electric and consumer demand is reemphasizing that.

Wayne Ramsey, Sales Manager for Ferrario Ford, said they “definitely” will be selling more electric vehicles in the near future.

“The general public is really wanting the electric vehicle,” said Ramsey. “The new F-150 has created such a great response from the consumer. We actually got 10 reservations last night for them just since it aired on TV.”

With more electric vehicles being produced, the need for charging stations is on the rise.

“We’ve upgraded all of our charging stations here and they are popping up more and more every day, even in the area,” said Ramsey.

There is also a key incentive to going electric.

Ramsey said if you live in the New York State, you can receive a $2,000 rebate for buying or leasing an electric vehicle.

As gas prices continue to increase, so does the appeal and affordability of electric vehicles.

Largo looks down road for electric vehicle charging | Largo

LARGO — By 2040, nearly 60% of passenger vehicle sales will be electric and 35% of cars in Florida will be electrified, according to the Southern Alliance for Clean Energy, a nonprofit organization that focuses on the transition to cleaner forms of energy.

The city of Largo, which has made it a goal to transition the entire community to 100% renewable energy by 2050, wants to get ahead of that curve. One way it plans to do so, city leaders have decided, is by ramping up efforts to install and incentivize the installation of electric vehicle charging stations.

“Within Tampa Bay, it’s estimated that between now and 2025, which is a very short time frame, we’re going to need approximately 100 additional public charging stations to keep up with the pace of EV adoption in the community,” said Laura Thomas, the city’s sustainability program administrator, during a May 11 work session, adding there are about 20 in the city now. “So, we need 100 new stations a year publicly available. That’s a fairly rapid pace that we want to make sure we’re keeping up with as a community.”

Commissioners say they want the private sector — especially developers of multifamily complexes — to keep pace as well. To do so, city staff offered two options on how to ensure both residential and commercial developments are equipped to support electric vehicles in the future.

One was a phased approach that tested out implementation of minimum standards in the three activity centers first before rolling them out citywide by 2024-25.

The second was a more aggressive tactic that would result in citywide standards by 2022-23.

“It (the first option) is a little bit slower, but it is phased, so it gives us the opportunity to see how it’s going to work in the activity centers and multimodal corridors where we really want to focus a lot of the development anyway,” said Alicia Parinello, the city’s acting planning manager.

By the end of the work session, commissioners directed city staff to take that approach, but also expedite it if possible. 

Mayor Woody Brown said rolling the standards out in the activity centers first makes sense because that is where most major housing complexes will likely be developed in the future.

Thomas said the focus is on housing developers and activity centers, which include downtown and areas near the Largo Mall and U.S.19/Roosevelt Boulevard, because studies show 80% of people charge their vehicles at home. 

Vice Mayor Jamie Robinson would like to see minimum standards implemented immediately, adding that developers at least need to build with the future in mind.

“We should have an absolute standard for EV capable,” Robinson said, referring to having the infrastructure in place for future charging stations. “I think everything should have some sort of standard for EV capable, at the very minimum.”

He also said the city needs to utilize incentives to encourage developers to build as many EV charging stations as possible.

“The incentives we have to have,” he said. “Maybe do a whole list of incentives. You can do a density bonus, you can do a reduction in parking. I think having several options or multiple choices for people.”

Brown also said incentives were a good idea, some of which could be rolled out citywide right away.

“I’d like to look at single-family home incentives as well,” he said, adding that they could be used for making homes both ready for electric vehicles and solar panels.

Another reason officials want to expedite the process is because of the state Legislature’s mounting efforts to take power away from local governments.

Robinson said he wouldn’t be surprised if developers started lobbying legislators to stop municipalities from introducing standards. 

If that day comes, commissioners said it would be good to have an ordinance in place in case the state allows grandfathering of existing regulations. 

City staff and developers had a forum April 21 and Parinello said they haven’t been as resistant as some might think.

“There wasn’t a whole lot of pushback,” she said, noting that they like the idea of incentives tied to increased density or reduction in parking.

Constructing projects with EV-ready spots also makes sense economically, Parinello said, citing estimates that adding them post-construction can be 75% higher.  

Lantower, for instance, is constructing a four-story, 272-unit complex with five EV charging stations off U.S. Highway 19 just south of Whitney Road. Currently, the city only requires one in that area.

If Robinson has his way, even that might not be enough. The vice mayor said he would like to follow the lead of St. Petersburg, which is pushing to require commercial and multifamily developments to make 15% to 20% of its spaces be EV ready, which includes an outlet, and 2% to 6% of its spaces to include charging stations.

Parinello said the next step would be outreach with stakeholders and developing standards and incentives for the activity centers, which could be brought to the commission for review in November or December.

Electric Vehicle Charging Station Market to Exhibit 41.79%

Pune, May 20, 2021 (GLOBE NEWSWIRE) — Electric Vehicle Charging Station Market Analysis

Market Research Future (MRFR) projects the global electric vehicle charging station market to exhibit a CAGR of 41.79% from 2020 to 2027 (review period).

The increasing global acceptance of electric vehicles is a major driver of the market for electric vehicle charging stations. Increasing environmental concerns, as well as government policies and initiatives to promote the adoption of electric vehicles in different regions, are driving up demand for electric vehicle charging stations. Excessive public and private investment in the development of electric vehicle charging infrastructure is also expected to boost demand growth for electric vehicle charging stations during the forecast period.

In certain nations, the government would cover up to 80% of the overall cost of installing charging infrastructure. Furthermore, the government’s involvement in charging station planning and production, in collaboration with the oil and gas industry, has benefited the global electric vehicle charging station sector’s growth. Cost-cutting measures by the government, such as providing lower-cost electricity to commercial charging stations, are critical in driving business growth. The government also plans to build charging stations every 100 kilometers along the national highway, allowing the market to expand during the forecast period.

The government offers incentives, rebates, tax cuts, and fixed quotas to automakers. Government incentives for the purchasing of electric vehicles are also essential for consumers. As a result of these factors, global electric vehicle sales and production have increased. The increasing number of electric vehicles necessitates the construction of charging stations and power grids to ensure the vehicles’ smooth operation. As a consequence, this factor is expected to drive market growth. Furthermore, the government’s stringent policies have forced consumers to purchase electric vehicles. As a result, the worldwide electric vehicle charging station market is expected to expand during the evaluation period.

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COVID-19 Impact on the Worldwide Electric Vehicle Charging Station Market

The ongoing COVID-19 outbreak has had an effect on many facets of life, ranging from consumer goods to industrial operations. As a result of the current COVID-19 outbreak, the automotive and transportation industries are currently experiencing unprecedented uncertainty. COVID-19 is predicted to have a major impact on the automotive supply chain and product demand. The industry’s attention has shifted away from China’s supply chain disruption towards a general decline in demand for automotive products. When all non-essential services are shut down, demand for commercial vehicles is expected to fall.

Nonetheless, the pandemic has had little impact on electric vehicle demand, with projected EV production levels in 2020 being close to those in 2019. As a result, the current pandemic is not expected to have a major effect on demand for EV infrastructure since electric vehicles and their related charging infrastructure and sales originate in China, which has revived from the pandemic to retain its global EV production dominance. The Chinese government has also introduced stimulus packages aimed at accelerating the expansion of a network of electric vehicle charging stations.

Electric vehicle adoption is increasing, and many countries around the world are investing heavily in research and development. Countries such as Canada, Australia, India, the Netherlands, and Germany have all launched campaigns to encourage the use of electric vehicles. Future government incentive schemes would assist the energy industry in overcoming the economic downturn caused by COVID-19 by investing heavily in charging stations. As a result, during COVID-19, most governments in the affected regions used rehabilitation of infrastructure as an economic stimulus.

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Market Segmentation

The global electric vehicle charging station industry has been segmented into charging station, connector type, installation type, and vehicle type. 

By charging station, the global market has been segmented into DC Charging Station, AC Charging Station, and Inductive Charging Station. 

By connector type, the global market has been segmented into Chademo, Combined Charging System, and Others.

By installation type, the global market has been segmented into Residential and Commercial.

By vehicle type, the global market has been segmented into Battery Electric Vehicle (BEV) and Plug-In Hybrid Vehicle (PHEV).

Regional Analysis

Region-wise, the worldwide electric vehicle charging station industry has been segmented into North America, Europe, Asia Pacific, and the rest of the world. 

In 2018, Asia Pacific dominated the global market for EV charging stations, followed by Europe and North America. As a result of effective policies adopted by governments in countries such as China, Japan, India, and Singapore, the Asia Pacific region leads the global market. The countries in the region are mainly focused on investing money and time in the development of charging infrastructure, and increasing collaboration between vehicle OEMs and aftermarket technology providers will further boost the market growth.

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Key Players

Siemens, Schneider Electric, ChargePoint Inc., Leviton Manufacturing Co. Inc., ABB, Tesla, Eaton, EVgo Services LLC, The New Motion B.V., Webasto Group.

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All Those Electric Vehicles Pose a Problem for Building Roads

Last week, Washington governor Jay Inslee—the guy who, while running for president two years ago, proposed a nationwide ban on sales of gas-powered cars by 2030—vetoed a statewide ban on gas-powered car sales by 2030.

The reason for the puzzling move, Inslee said in a statement, was a provision tucked into the legislation. The language said the 2030 target would take effect only if lawmakers created a program to charge drivers based on how far they drive each year.

The bill had been hailed as pathbreaking for electric vehicles and US climate policy, more aggressive than deadlines from states like California, Massachusetts, and New York, which have set their sights on 2035. Washington plans to follow California’s rules and phase out the sale of gas-powered cars by 2035.

But there’s a hitch in those plans: The nation uses gas taxes to fund the construction and upkeep of everything from roads and bridges to buses and ferries. As more electric vehicles hit the road, gas sales will decline—along with the revenue from taxing them.

Matthew Metz, founder and co-executive director of the Seattle-based environmental group Coltura, says he was surprised and disappointed that Inslee missed a chance to set the earliest zero-emission sales deadline in the country. He says signing the legislation, even with the attached per-mile tax program, would have staved off future angst about paying for the state’s infrastructure. Lawmakers “can keep kicking this issue down the road, but eventually it’s going to have to stop,” Metz says.

In the US, state and federal motor fuel taxes account for 40 percent of transportation funding—the largest revenue source. But the federal government hasn’t raised the gas tax since 1993, when it was fixed at 18.4 cents a gallon. Since 2008, Congress has allocated additional funds from elsewhere, but the situation is not sustainable: The Congressional Budget Office says that if the funding system doesn’t change by 2030 federal transportation funding will exceed its budget by $188 billion. At least 36 states have increased their fuel taxes since 2010 to bring in more money.

Meanwhile, vehicles have gotten more fuel-efficient—and a small but growing share of US vehicles aren’t using gas at all. Automakers promise to spend the next decade rolling out battery-powered models. (Anyone want an electric version of the best-selling vehicle in America, the Ford F-150 pickup? You can buy one in 2022.)

That transition is important to the planet. Twenty-nine percent of the country’s greenhouse gas emissions waft from the transportation sector, and nearly 60 percent of those are from light-duty vehicles. Many believe that electrifying the country’s transportation system must be a key element of any plan to beat back climate change.

“Lawmakers are going to realize that yes, you’re meeting this environmental goal” by setting ambitious electrification targets, says Douglas Shinkle, who directs the transportation program at the National Conference of State Legislatures. “But at the same time, you’re negatively impacting the system that those vehicles drive on.”

Which is why policymakers like those in Washington state are interested in road user fees. In theory, the policy is simple: Instead of paying a tax on each gallon of gas they use, drivers would pay a tax per mile they drive. US Transportation secretary Pete Buttigieg endorsed the idea in March, though it didn’t make it into President Biden’s infrastructure proposal. Also in March, the Federal Highway Administration announced it would fund eight state- and regional-level road-user-fee pilot programs. At least 13 states have introduced legislation concerning road user charges, Shinkle says.

But states that have experimented with and even implemented road user fees—a club that includes California, Hawaii, Minnesota, Oregon, Utah, and Virginia—have run into plenty of thorny questions. Collecting a gas tax is easy and cheap; drivers pay at the pump. But a per-mile charge would require gathering data and fees from millions of vehicles. Some states have experimented with radio transponders, others with devices that plug into vehicles and send data to transportation departments. Skeptics have raised concerns about tracking residents’ locations. And it’s not clear that such a system would raise more money than it costs.

Genesis Electric Vehicle Highly Evaluated in Overseas Markets

Genesis Brand’s first electric vehicle G80e



Interest in Genesis Brand’s first electric vehicle G80e is growing in overseas markets.

Hyundai Motor Group said on May 19 that major media outlets around the world have continued to praise the G80e since the model made its debut at the 2021 Shanghai International Motor Show in April. In China, favorable reviews are focused on its design. “Its design show the Genesis’ own style well,” a Chinese online car media outlet said on the G80e. “It suggests an original interpretation of luxury.”

“It shows a perfect balance between dynamic and elegance,” said the Global Times of China.

The model enjoyed a high evaluation of its design in the United States as well. “The interior and exterior design of the G80e boasts a very attractive style,” said Car & Driver, an American automotive media outlet. “The design of the G80e is more elegant as it utilizes eco-friendly materials such as recycled wood, textiles and leather processed with natural dyes,” online automotive media outlet Autoblog said regarding the G80e’s exclusive built-in color and two tones of dark green

The G80e’s electric vehicle technology was highly evaluated. The model is loaded with batteries of 87.2 kWh which allow the model to run up to 427 kilometers on a single charge. Besides, new technologies were applied to boost the model’s performances and efficiency such as Solar Roof which can charge an average of 730Wh of electric power per day with solar energy and the disconnector actuator system (DAS) which can separate and connect a car’s electric motor and driveshaft depending on driving conditions.

Based on these reviews, many media outlets predict that the G80e will emerge as a new leader in the luxury electric vehicle market. “The G80e will compete with Tesla Model S and Mercedes-Benz EQS in the near future,” said Auto Bild, a German auto magazine. Another German car magazine, “Auto Motor und Sport” also predicted fierce competition between the G80e and other models, saying that the G80e is taking aim at the EQS and the Model S.”

Hyundai Motor Group will start selling some Genesis models in European regions starting in June following China. Starting by receiving orders for the flagship G80 and GV80, the company will introduce the mid-sized sports sedan G70 and the mid-sized urban-style SUV GV70. The automaker is planning to launch two electric vehicle models including the G80e after them.

Ford F-150 Lightning Is a Major New Electric Vehicle Contender

Ford Motor has opened a major new front in the battle to dominate the fast-growing electric vehicle market, and it’s banking on one of the world’s most powerful business franchises.

In a splashy presentation Wednesday night at a Ford plant in Dearborn, Mich., the automaker unveiled an electric version of its popular F-150 pickup truck called the Lightning. Ford’s F-Series trucks, including the F-150, make up the top-selling vehicle line in the United States, and typically generate about $42 billion a year in revenue, according to a study commissioned by Ford — or more than twice what McDonald’s brought in last year.

It was one of the most anticipated introductions of a new car and invited comparisons to Ford’s Model T, the car that made automobiles affordable to the masses. Ford has a lot at stake in the new vehicle’s success. If it can turn the F-150 Lightning into a big seller, it could accelerate the move toward electric vehicles, which scholars say is critical for the world to avoid the worst effects of climate change.

Tailpipe pollution from cars and trucks represents the largest source of greenhouse gas emissions in the United States and one of the largest in the world. But if the Lightning does not sell well, it could suggest that the transition to E.V.s will be far slower than President Biden and other world leaders need to achieve climate goals.

“The F-150 will put electric vehicles in a totally different realm,” said Michael Ramsey, a Gartner analyst. “It’s huge for Ford, but also huge for the whole industry. If you’re going to electrify the whole vehicle fleet in the United States, the F-150 going electric is a big step in that direction.”

The F-150 Lightning signals a shift in the auto industry’s E.V. push, which has been aimed at niche markets, so far. Tesla has grown rapidly for several years by selling flashy sports cars to the affluent and early adopters. It sold close to 500,000 cars globally last year, a little more than half as many F-Series trucks Ford sold. Other electric models that have sold well have been small cars, such as the Chevrolet Bolt and Nissan Leaf, that appeal to environmentally minded consumers.

The F-150 Lightning, in contrast, is aimed at small businesses and corporate customers such as building contractors and mining and construction companies that buy lots of rugged pickups. These buyers typically care not just about the sticker price of a truck but also how much it costs to operate and maintain. Electric vehicles tend to cost more to buy but less to own than conventional cars and trucks because they have fewer parts and electricity is cheaper than gasoline or diesel on a per mile basis.

“There are a lot of big fleets who have been looking for green solutions but haven’t had any answers until now,” William C. Ford Jr., the company’s chairman and a great-grandson of Henry Ford, said in an interview.

The truck is expected to go on sale next spring, with a starting price of $39,974 for a model that can travel 230 miles on a full charge. A version with a range of 300 miles starts at $59,974.

With an electric motor mounted on each of its axles, the vehicle will offer more torque — in effect, faster acceleration — than any previous F-150 and will be capable of towing up to 10,000 pounds. Its battery pack can put out 9.6 kilowatts of energy, making it able to power a home for about three days during an outage, according to Ford.

For contractors and other commercial truck users, the Lightning will be able to power electric saws, tools and lighting, potentially replacing or reducing the need for generators at work sites. It has up to 11 power outlets.

“It’s made to be on the work site and to work all day long,” said Ted Cannis, general manager of Ford’s North American commercial vehicle business.

The truck’s base price is a few thousand dollars less than that of a Tesla Model 3 and even that of the company’s own Mustang Mach-E sport-utility vehicle. The total cost is lower still because buyers of Ford’s electric vehicles still qualify for the $7,500 federal tax credit available for the purchase of E.V.s. Some states such as California, New Jersey and New York offer additional rebates worth as much as $5,000.

Mr. Cannis said Ford was able to keep the price of the electric model down by using the seats and other parts that go into conventional F-Series trucks. Ford typically sells 900,000 of those vehicles a year, giving it substantial economies of scale.

General Motors and start-ups like Rivian are also working on electric pickups. Rivian has said it will start delivering its truck, the R1T, this summer and G.M. is expected to sell the GMC Hummer pickup later this year.

A big question about electric pickups is whether many people will buy them. Beyond commercial buyers, trucks like the F-150, Chevrolet Silverado and the Ram tend to be bought by people who have a lot of stuff to haul or by people — usually men — who like driving trucks.

“There will probably be some initial raised eyebrows, but once we get people to experience the driving dynamics and the extra room, the skepticism will abate,” Mr. Ford said.

The F-Series trucks have been the top-selling model line in the United States for the last 44 years. A 2020 study by the Boston Consulting Group found that the truck supports 500,000 jobs at Ford, parts suppliers and dealerships.

Ford’s introduction of the Lightning got a major boost from Mr. Biden, who on Tuesday visited the company’s Rouge Electric Vehicle Center where the pickup will be made. Before a pool of White House reporters gathered at the plant, Mr. Biden pulled up behind the wheel of a prototype covered in black-and-white camouflage sheeting used to conceal the shape of the truck ahead of the Wednesday event.

“This sucker’s quick,” Mr. Biden said, and let slip that the truck can zoom to 60 miles an hour in 4.4 seconds, a detail that wasn’t supposed to be released until Wednesday. Mr. Biden then zoomed off, reaching a top speed of 80 m.p.h.

The Secret Service normally does not allow presidents to drive. Ford officials were not sure Mr. Biden would drive the truck until he arrived at the Rouge center, but it’s not a surprise he did.

Mr. Biden is a well known car enthusiast and owns a green 1967 Corvette that was given to him by his father as a wedding present. In 2016, he and his Corvette appeared on an episode of “Jay Leno’s Garage,” in which he drove the car at an enclosed Secret Service training facility.

Ford’s plan to produce an electric truck in the Midwest with union labor closely aligns with the Biden administration’s goal to cut greenhouse gas emissions, increase domestic manufacturing, support unions and accelerate the transition to electric vehicles. The battery for the Lightning will be made by SK Innovation, a South Korean company, at a factory in Commerce, Ga.

The administration’s $2 trillion infrastructure proposal includes money to help build half a million charging stations and incentives for the purchase of electric vehicles.

Ford has said it plans on spending $22 billion to develop electric vehicles over a five-year period ending in 2025.

Other automakers are moving in the same direction. G.M. is spending a similar sum and has said it aims to produce only electric vehicles by 2035, setting a target date for phasing out the internal combustion engine, which has powered the auto industry for more than a century.

G.M. recently introduced an updated version of its electric car, the Chevrolet Bolt. It also plans to make an electric version of its popular Silverado pickup truck, which is one of the biggest competitors to the F-150.

One Company To Watch As Electric Vehicle Stocks Get Ready To Fly This Summer

This winter was all about buying the EV rumor and selling the election news. That netted savvy investors some nice profits, but summer might have something even bigger in store for this sector.

Having sold on the Biden inauguration news, there’s lots of potential upside for EV companies now.

Everything is lined up for EV companies–and lots of related industries–to do well in the coming months. 

We’re looking at …

  • A massive $2.5-trillion infrastructure plan that will create record new heights in employment. 
  • Biden’s proposed $174 billion in funding for EVs
  • A likely 10-year tax credit extension for renewables
  • Another tax boost for carbon capture tech
  • And most immediately, a pile of Q1 results in from EV companies, and it looks to be way better than many anticipate.

Tesla, the bellwether for the industry, delivered impressive Q1 results that made one thing very clear to anyone with hesitations about jumping into the sector: Demand for EVs is undeniable and their ascent into the mainstream is probably unstoppable.  

But this long-term “green tidal wave” extends far beyond EVs themselves. For investors, there is an impressive basket of companies in related industries to EVs that aren’t expensive like Tesla, which is just south of $700, and some of them are likely to have tons of upside in this new environment. 

One is Facedrive (TSXV:FD; OTC:FDVRF), the Canadian tech-driven company that emerged out of Ontario’s ‘Tech Triangle’, which aims to rival Silicon Valley. Facedrive, with multiple ESG verticals, isn’t just the pioneer of EV ride-sharing and carbon-neutral food delivery …

It’s also been a front-line contributor to Ontatio’s pandemic response and economic recovery plans, with TraceSCAN contact-tracing tech and wearables–including a $2.5-million investment from the government to speed up deployment.

And in the U.S., Facedrive is the new owner of energy giant Exelon’s former company Steer, which we think has high potential to disrupt the auto industry with the first EV subscription service. 

From batteries and battery metals, to charging and on-demand EV subscription services, there are endless opportunities for investors to harness the real upside of the new green world. 

Looking for a New Idea? Try Car Subscriptions 

EVs have already made an impact on the auto industry. 

What Tesla started is now forcing the auto giants to kick it into overdrive at the 11th hour to compete. 

GM is faring the best among the old-timers, working hard now to sell EVs as an “all-American” idea, worthy of the Super Bowl. 

But the industry should brace itself for disruption on an entirely different level: personal car ownership. 

The number of registered vehicles from 2012 to 2019 declined by over 25 million, according to Statistica.

The car subscription market is expected to fly past $12 billion by 2027 …

Even Volvo is all-in, offering customers a hassle-free subscription with no long-term commitment and no down-payment. 

Porsche, too. 

Loans and leases are being challenged seriously …

And Facedrive’s Steer is where the auto industry meets a mega-trend like streaming. But with a clean, green theme of the kind that is attracting big investment dollars for companies that are green. 

This is where car dealerships may lose ground to subscription services that appeal to younger generations who don’t want to be trapped in a 3-year lease or a 5-year car purchase loan. They want flexibility and they want it on demand, with zero hassle. 

That’s exactly what Steer offers, with EVs and hybrids–all in a subscriber’s own personal (virtual) showroom. 

And it’s as easy as swiping … because Steer takes care of everything but the driving, including insurance, maintenance and charging. 

Now, up and running in Washington, D.C., Facedrive (TSXV:FD; OTC:FDVRF) has moved Steer into the Toronto market, with big expansion plans underway across North American cities. 

Many investors are now looking ahead for the next big thing in the EV related markets, and Facedrive fits the profile perfectly.  

There has been a lot of exciting news about this company YTD … and the tech-driven verticals keep expanding ..

Facedrive started 2021 off with an announcement that its C$20.5 million equity raise was oversubscribed.

Then, in February, TraceSCAN was chosen by the Government of Ontario to help get people back to work safely in order to reboot an economy ravaged by a pandemic. The government invested $2.5 million into Facedrive to accelerate deployment.

Now, all eyes will be on Steer as it paves a clean, new road in the emerging trend of car subscriptions, with an all-electric twist.  

The Subscription Business Is Thriving

Video streaming giant, Netflix Inc. (NASDAQ:NFLX), is just coming off a banner year whereby the company’s subscriber tally set new records, managing to once again shrug off intense competition from streaming rivals. Netflix gained 37 million new subscribers in 2020, easily besting its previous record gain of 28.6 million new subscribers in 2018, to finish the year with 203.67 million paid subscribers worldwide. Obviously, Netflix had Covid-19 and the stay-at-home trend to thank for the massive growth as consumers sheltering at home turned to streaming entertainment in droves.

Kevin Westcott, Deloitte’s vice chairman and U.S. tech, media, and telecom leader, has just told Fortune that streaming services are recording significant churn, meaning the subscriber dropout rate is alarming. Before the pandemic, churn was about 20% but jumped to 37%  from October 2020 to February 2021 with majority of new subscribers cancelling their new services once the free trial period ends (30 days for Netflix). Netflix bulls are still optimistic, however. The King of Streaming hasn’t lost its spot just yet.

Disney (NYSE:DIS) is another contender in the subscription race. Launched just last year, the streaming service already has over 100 million subscribers. Even Goldman Sachs banking on a continued streaming boom as people continue to stay at home amid the pandemic, and the bank thinks that everyone has underestimated Disney+ so far–especially in light of its launch of DTC (direct-to-consumer) streaming.

“We believe Disney’s best-in-class brand, global distribution (breadth), production assets (build), sizable content library (backlist) and strong financial profile (balance sheet) position the company to build scaled DTC video platforms in the highly competitive streaming environment,” Goldman analyst Brett Feldman said in a note to clients.

And the numbers do look good: Goldman originally estimated that Disney+ will have over 150 million customers by the end of 2025, and its analysts think they are being “conservative” with this figure.  And they’re right. With its current numbers, Disney+ is already on track to be a heavy competitor in this exciting industry.

AT&T (NYSE:T) is a veteran in the subscription business. From telephones to television, AT&T has been a dominant force in this world for ages. And thanks to its noteworthy acquisitions of Time Warner, HBO and Turner Broadcasting, AT&T has one of the biggest footprints in the streaming industry…with the potential to grow even larger.

With its almost incomparable array of assets, AT&T’s streaming services stand to draw a lot of interest. And while it does not approach the industry in the same way that Disney or Netflix has, the telecom giant is still likely to emerge as a winner. HBO alone already has over 44 million U.S. subscribers, and that number is expected to skyrocket in the years to come.

CEO John Starkey noted in a press release, “Our number one priority in 2021 is growing our customer relationships. It’s about more than just adding to our customer base. It’s about expanding the growth opportunity in our three market focus areas and also increasing our share within each market.”  

Amazon (NASDAQ:AMZN) is another player in the booming subscription business. Its Amazon Prime is one of the leaders in the industry. Not only does it allow users to access a variety of content, it includes a members-only delivery bonus that will add next day, and in some cases, same day deliveries for free.

And Amazon is ESG-friendly, as well. Not only is Amazon looking to power its own operations with renewable energy, it’s also aiming to transform its own supply chain. From sustainable packaging and ethical and responsible sourcing, Amazon is going above and beyond to make sure it is setting a positive example for the entire market.

In a statement on its website Amazon noted, “We believe supply chain transparency is crucial to our approach to human rights due diligence and ensuring worker protections. We publish our supplier list to provide customers and external stakeholders visibility into where we source and to contribute to transparency efforts across industries. When we receive information about potential issues in our supply chain, we investigate and take appropriate action to remediate.”

While streaming video has dominated the subscription scene, ride-sharing giants Uber and Lyft have created their own subscription products, as well.

Uber (NASDAQ:UBER) has recently launched Uber Pass, a membership program which rewards frequent riders with significant discounts across all of its platforms. This includes no delivery fees on grocery orders and Uber Eats orders and a 10% discount on all Uber rides.

Uber is even jumping on board the green energy train. Uber has even rolled out a new program to help drivers transition to electric vehicles. The $800 million ‘Green Future’ initiative, with the help of Chevrolet, allows drivers to get a near-$3000 discount on Bolt EV Premiers. Additionally, drivers of low-emission vehicles will also get a small bonus for every ride they complete. They will also get a discount on specific charging platforms to help cut costs during the transition.

“As the largest mobility platform in the world, we know that our impact goes beyond our technology. We want to do our part to build back better and support a green recovery in our cities and communities,” CEO Dara Khosrowshahi noted on the company’s website.

Like Uber, Lyft Inc (NYSE:LYFT) is also rolling out a new subscription platform. For just $19.99 per month, frequent Lyft users will be able to enjoy a variety of benefits, including a 15% discount on all rides, priority airport pickup, relaxed cancelations, and even surprise offers.

Also like Uber, Lyft has taking a strong stance on its green initiatives. In fact, it has even rolled out a massive push to fully-electrify its fleet within the decade. The company is already working closely with its partners and policymakers to make electric vehicles more accessible to its drivers, but the best is yet to come.

John Zimmer, co-founder and president of Lyft explained, “Now more than ever, we need to work together to create cleaner, healthier, and more equitable communities,” adding, “Success breeds success, and if we do this right, it creates a path for others.  If other rideshare and delivery companies, automakers and rental car companies make this shift, it can be the catalyst for transforming transportation as a whole.”

Even electric car companies are forming their own subscription business models. Take Nio Limited (NYSE:NIO) for example. Nio Tesla’s largest competitor in China, has also started to offer a batteries-as-a-service concept, in which car buyers can ‘lease’ the battery of their vehicle and save as much as $10,000 on the price of a new vehicle, while also offering buyers the option to swap batteries after a few years of use. And that’s huge news in the lithium world, because it will mean give miners even greater incentive to sign deals with the battery innovator.

This could be huge for Nio, which is already making major moves. Just last fall, Nio revealed a pair of sedans that even the biggest Tesla die-hard would struggle to pass up. The vehicles, meant to compete with Tesla’s Model 3, could be just what the company needs to pull back control of its local market from Elon Musk’s electric vehicle giant.

Canada’s making major moves in the tech and electric vehicle world, as well. Shopify Inc (NASDAQ:SHOP; TSX:SH) is an absolute beast in the e-commerce world. In fact, because of its simple-to-use platform, it would be hard to have not stumbled onto a shop built with its technology. More than 1,000,000 businesses rely on Shopify’s real-time e-commerce solutions, including Tesla, Budweiser and Red Bull, among many others. Shopify makes purchasing goods and services easy for anyone – and in a time where convenience is king, Shopify surely has staying power.

In addition to its revolutionary approach on e-commerce, Shopify is also delving into blockchain technology, making it a promising pick for investors, especially given that the sector is red hot right now. Its clients are even able to accept bitcoin and a variety of other cryptocurrencies as payments with a few clicks.

Global lockdowns accelerated Shopify’s already-tremendous growth. Since March 2020 alone, Shopify has seen its price rise from just $495 per share to a high of $1800 per share before settling down to its current price. The company has already shown its potential, but as it continues to grow, so will its innovative solutions for businesses, and by extension, it’s share price. Shopify is one of the few e-commerce companies that may very well be able to compete with the likes of Amazon.

Mogo Finance Technology Inc. (TSX:GO) is a new spin on unsecured credit, which is a burgeoning sub-segment of FinTech. Providing loan management, the ability to track spending, stress-free mortgages, and even credit score tracking, Mogo is at the forefront of an online movement to assist users with their financial needs.

Mogo’s software analyzes borrowers instantly and greatly reduces the traditionally cumbersome underwriting process for loans. It’s online-only, so there’s very low overhead and a ton of cash to spend on marketing.  Labeled as “the Uber of finance” by CNBC, Mogo is definitely turning heads.

With increasing membership growth and revenue lines continuing to improve, and a platform which many banks have failed to offer, Mogo could well become an acquisition target in the near future.

Contagious Gaming Inc. (TSX:CNS.V) is a software developer that has developed many systems for the e-gaming markets. The company has created a remote sports betting system that allows for live in-play betting during sporting and esporting events. The company’s content and technology can be delivered as a fully integrated service across a single, modern customer platform or can be offered as standalone verticals.

ePlay Digital Inc. (CSE:EPY) creates technology that helps TV networks, esports teams and leagues and even venues cut through the noise to reach their target audience. The company brings together multiple platforms to create engagement across social media, traditional media, streaming, and more. With a team built from sports, esports, and gaming experts, ePlay knows the video game industry inside and out. That’s why they’ve secured partnerships with companies including Time Warner Cable, ESPN, Sony Pictures, AXS TV, Intel, AXN, Fiat, CBS, Cineplex, and others.

Shaw Communications Inc. (TSX:SJR) is major player in the Canadian telecoms sector. It owns a ton of infrastructure throughout Canada and its cloud services and open-source projects look to address some of the biggest issues that its customers might face before the customers even face them. As online gaming depends on solid internet connections, Shaw will likely become a backdoor benefactor in increased online activity. Not only that, it’s growing higher on ESG investors’ lists, as well, thanks to its forward-thinking approach to the environment and it’s governance. 

By. Shawn Rednapp

**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**

Forward-Looking Statements

This publication contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements.  Forward looking statements in this publication include that the demand for ride sharing services will grow; that Steer can help change car ownership in favor of subscription services; that new tech deals will be signed by Facedrive and deals signed already will increase company revenues; that Facedrive will achieve its plans for manufacturing and selling Tracescan devices; that Facedrive will be able to expand to the US and globally; that Facedrive will be able to fund its capital requirements in the near term and long term; and that Facedrive will be able to carry out its business plans. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information.  Risks that could change or prevent these statements from coming to fruition include that riders are not as attracted to EV rides as expected; that competitors may offer better or cheaper alternatives to the Facedrive businesses; changing governmental laws and policies; the company’s ability to obtain and retain necessary licensing in each geographical area in which it operates; the success of the company’s expansion activities and whether markets justify additional expansion; the ability of the company to attract drivers who have electric vehicles and hybrid cars; and that the products co-branded by Facedrive may not be as merchantable as expected. The forward-looking information contained herein is given as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

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North America Electric Vehicle Charging System Market 2021-2028: Market is Grow at a CAGR of 45.63% – Leading Players are Siemens, Schneider Electric, SemaConnect, ChargePoint, Webasto, Alfen, and ABB – ResearchAndMarkets.com

DUBLIN–()–The “North America Electric Vehicle Charging System Market 2021-2028” report has been added to ResearchAndMarkets.com’s offering.

Electric vehicle charging system market in North America is set to garner a CAGR of 45.63% during the considered years from 2021 to 2028.

In Canada, the reviewed market is primarily driven by the growing number of electric vehicles. Moreover, the presence of well-known auto manufacturers, including Tesla, is supplementing the market’s progress. The government incentives have also added to the studied market’s development.

For instance, Transport Canada initiated a national purchase incentive program for electric vehicles. This program states that people who purchase plug-in hybrid vehicles are eligible for an incentive applied at the point-of-sale by the dealership. Thus, increasing the adoption of electric vehicles, thereby amplifying the electric vehicle charging system market’s growth.

Globally, the United States is the most technologically advanced country. Besides, it is the center of interest for the electric vehicle and charger manufacturers, such as Ford, Tesla, and others. Presently, the country dominates the electric vehicle charging system market in the region in terms of sales.

This stronghold over the market is primarily due to favorable economic conditions, leading to the rise in disposable income among consumers. Here, the demand from the urban population is one of the significant factors anticipated to support the development of electric vehicle technology in the next few years. Thus, the growth in EV adoption will stimulate the growth of the electric vehicle charging system market across the United States.

Competitive Outlook

The leading companies in the electric vehicle charging system market are Siemens, Schneider Electric, SemaConnect, ChargePoint, Webasto, Alfen, and ABB Ltd.

Key Topics Covered:

1. North America Electric Vehicle Charging System Market – Summary

2. Industry Outlook

2.1. Key Insights

2.1.1. Rise in Investments in Electric Vehicle Industry

2.1.2. Rising Environmental Pollution Increases Growth Prospects for the Market

2.1.3. Many Countries Have Set Targets to Phase-Out Internal Combustion Engine Vehicles

2.2. Impact of COVID-19 on Electric Vehicle Charging System Market

2.3. Porter’s Five Forces Analysis

2.4. Market Attractiveness Matrix

2.5. List of Incentives by Various Countries for the Industry

2.6. Industry Components

2.7. Vendor Scorecard

2.8. Key Market Strategies

2.8.1. Contracts & Partnerships

2.8.2. Business Expansions & Divestitures

2.8.3. Acquisitions & Mergers

2.8.4. New Product Launches

2.9. Market Drivers

2.9.1. Growth in Electric Vehicle Sales

2.9.2. Governmental Initiatives in Favor of the Market

2.9.3. Technological Innovations

2.10. Market Challenges

2.10.1. High Setup Costs

2.10.2. Lack of Standardization

2.10.3. Extended Charging Time and Competition from Other Technologies

2.11. Market Opportunities

2.11.1. Advancements in Wireless Charging Technology

2.11.2. Growth in Vehicle-To-Grid (V2G) Technologies

2.11.3. Opportunities from Changing Market Dynamics

3. North America Electric Vehicle Charging System Market – by Product Type

3.1. Home Charging Systems

3.2. Commercial Charging Systems

4. North America Electric Vehicle Charging System Market – by Mode of Charging

4.1. Plug-In Charging System

4.1.1. Level 1

4.1.2. Level 2

4.1.3. Level 3

4.2. Wireless Charging System

5. North America Electric Vehicle Charging System Market – Regional Outlook

5.1. United States

5.2. Canada

6. Competitive Landscape

6.1. Abb Ltd

6.2. Alfen

6.3. Allego

6.4. Blink

6.5. Chargepoint

6.6. Delta Electronics Inc

6.7. Eaton

6.8. Efacec

6.9. Evbox

6.10. Evgo

6.11. Schneider Electric

6.12. Semaconnect

6.13. Siemens

6.14. Tesla

6.15. Webasto

7. Methodology & Scope

For more information about this report visit https://www.researchandmarkets.com/r/e9r7hh

North American Low Speed Electric Vehicle (LSEV) Market to 2030, by Product (Two-wheelers, Three-wheelers, Four-wheelers), Voltage, Battery, Vehicle Type and End-user – ResearchAndMarkets.com

DUBLIN–()–The “North America Low Speed Electric Vehicle (LSEV) Market 2020-2030 by Product (Two-wheelers, Three-wheelers, Four-wheelers), Voltage, Battery, Vehicle Type, End-user, and Country: Trend Forecast and Growth Opportunity” report has been added to ResearchAndMarkets.com’s offering.

The North American low speed electric vehicle market is expected to grow by 13.9% annually in the forecast period and reach $2,111.7 million by 2030, owing to stringent environmental regulations, improvement in electric vehicle R&D, advanced battery technology, and government subsidies.

This report is based on a comprehensive research of the entire North American low speed electric vehicle market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2017-2019 and provides estimate and forecast from 2020 till 2030 with 2019 as the base year.

In-depth qualitative analyses include identification and investigation of the following aspects:

  • Market Structure
  • Growth Drivers
  • Restraints and Challenges
  • Emerging Product Trends & Market Opportunities
  • Porter’s Fiver Forces

The trend and outlook of North America market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify North America low speed electric vehicle market in every aspect of the classification from perspectives of Product, Voltage, Battery, Vehicle Type, End-user, and Country.

Based on Product, the North America market is segmented into the following sub-markets with annual revenue for 2020-2030 included in each section.

  • Two-wheelers
  • E-Bikes
  • E-Scooters
  • Motorcycles
  • Kick Scooters
  • Other Two-wheelers
  • Three-wheelers
  • Four-wheelers

Geographically, the following national/local markets are fully investigated:

For each key country, detailed analysis and data for annual revenue are available for 2020-2030. The breakdown of key national markets by Voltage, Battery, and Vehicle Type over the forecast years is also included.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

Specifically, potential risks associated with investing in North America low speed electric vehicle market are assayed quantitatively and qualitatively through a proprietary Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders identify emerging opportunities, manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions.

Key Topics Covered:

1 Introduction

2 Market Overview and Dynamics

3 Segmentation of North America Market by Product

4 Segmentation of North America Market by Voltage

5 Segmentation of North America Market by Battery

6 Segmentation of North America Market by Vehicle Type

7 Segmentation of North America Market by End User

8 North America Market 2020-2030 by Country

9 Competitive Landscape

  • AGT Electric Cars
  • Accell Group N.V.
  • Bintelli Electric Vehicles
  • Deere & Company
  • HDK Electric Vehicles
  • Ingersoll Rand, Inc.
  • Moto Electric Vehicles
  • Pedego Electric Bikes
  • Polaris Industries
  • Razer LLC
  • Sonders
  • Textron Inc.
  • Zero Motorcycle Inc.

10 Investing in North America Market: Risk Assessment and Management

10.1 Risk Evaluation of North America Market

10.2 Critical Success Factors (CSFs)

For more information about this report visit https://www.researchandmarkets.com/r/en9qz

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.