Battery electric cars run only on electricity and don't use gasoline or diesel. They are better for the environment because they don't produce harmful gases when you drive them.
Market share is how much of the total sales in a market a company has. For example, if Tesla has 31% market share, it means that out of every 100 cars sold, 31 were Teslas.
An environmental score is a rating that shows how eco-friendly a car is. It looks at things like how much energy it uses and how much pollution it creates.
Lifetime emissions are the total pollution a car creates from the time it's made until it's no longer used. This helps to understand how bad a car is for the environment over its life.
Car
Citroën EC5 Aircross Long Range
The Citroën EC5 Aircross Long Range is an electric SUV that offers a lot of space and is designed to be efficient, which means it uses less energy.
Car
Ford E-Torneo Courier
The Ford E-Torneo Courier is a small electric van that is great for city driving and is useful for both businesses and everyday tasks.
The Citroën C5 is a comfortable car that is good for long drives. It’s important because it focuses on making sure passengers have a nice experience while traveling.
The Alpine A290 is a small, sporty car that is built for fun driving. It’s important because it shows that you can have a great time behind the wheel while still being in a compact vehicle.
Car
Renault A390 Crossover
The Renault A390 Crossover is a new electric vehicle from Renault that combines features of cars and SUVs.
Car
Renault A110
The Renault A110 is a sporty car that will soon have an electric version, replacing the older petrol model.
Bespoke means custom-made. In this case, it refers to a special design for sports cars that makes them lighter and more adaptable for better performance.
A kilowatt is a way to measure how powerful something is, like an electric motor in a car. More kilowatts usually mean better performance and faster acceleration.
Horsepower is a way to measure how powerful an engine is. The higher the horsepower, the faster and more powerful the car can be.
Car
Fiat Topolino
The Fiat Topolino is a very small car that was made a long time ago. It's known for being cheap and easy to drive around in the city.
Car
Citroën Ami
The Citroën Ami is a tiny electric car that's perfect for driving around in cities. It's small and easy to park, making it a good choice for urban areas.
Car
Leap Motor T03
The Leap Motor T03 is another small electric car that's made to be affordable and easy to use in cities. It's designed for people who want a budget-friendly option for getting around.
K-Cars are tiny cars in Japan that are cheaper to buy and run. They have to follow special rules about how big they can be and how powerful their engines are.
Stellantis is a big car company that makes many different brands of cars, like Jeep and Peugeot. It was created when two car companies merged together.
The A-Segment is a group of tiny cars that are easy to drive around cities. They are usually cheaper and smaller than other cars, making them great for city living.
The Kia EV5 is a new electric SUV that will be available soon. It's important because it will give people more choices for eco-friendly cars that are also practical for everyday use.
The Kia Sportage is a small SUV that offers a lot of space for passengers and cargo. It's a good option for people who need a practical car for daily driving and family trips.
The Kia EV6 is an electric car that looks like a sporty SUV. It's important because it can drive long distances on a single charge and can be charged quickly, making it a great choice for people looking for an eco-friendly vehicle.
EGMP architecture is a special design platform used for building electric cars. It helps manufacturers create different models more easily and efficiently.
The Nissan Ariya is an electric SUV that is designed to be comfortable and easy to drive. It’s important because it helps people switch to electric cars while still enjoying a roomy and modern vehicle.
LIVE
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Welcome.
Hear that?
That's me in Tokyo learning to make sushi from a master.
How did I get here?
I invested wisely.
Now the only thing I worry about
is using too much wasabi.
Get where you're going with SPI,
the world's most traded ETF.
Getting there starts here
with State Street Investment Management.
Before investing, consider the fund's investment objectives,
risks, charges, and expenses.
Visit statestreet.com slash im for prospectus,
containing this and other information.
Read it carefully.
SPI is subject to risks similar to those of stocks.
All ETFs are subject to risk,
including possible loss of principle.
Alps distributors ink distributor.
Welcome back to the podcast.
Today, Norway nears all electric market.
The UK extends the grant,
and Alpine locks in EV launches.
Plus, stay tuned later in the show.
I'll tell you about yet another study
which shows how dirty plug-in hybrids are
when not charged.
No EV news, China Today is the weekend.
Back tomorrow with November's sales data.
Norway's new car market
is now almost entirely electric
and Tesla is pulling ahead of its rivals.
In November, 19,899 new passenger cars were registered,
according to the Road Traffic Agency OFV.
Of those, 19,899, 19,427 were pure battery electric cars.
So in November, Norway had an pure EV share
of 97.6% of new vehicle sales.
It's one of the strongest months
in Norwegian new car sales ever.
The agency said the jump is sharp
even by Norway's standards.
EV registrations rose by 8,575 compared with October
and by 8,487 versus a year earlier.
Combustion powertrains together
accounted for less than 1% of the market.
OFV links the surge to several forces,
looming tax changes from 2026,
heavy discounting, wider availability
of cheaper models, and gradual economic recovery.
Managing director, Geir Inger Stockett,
called it an historically strong November.
He said uncertainty over a proposed VAT change
and the final state budget
is prompting many buyers to bring forward purchases
and he expects December to be strong as well.
Tesla was the clear winner.
It captured 31% of the market
with 6,212 registrations,
almost one in three new cars.
So far this year, Tesla has registered
28,500 vehicles, already beating its own record
set in 2023 and Volkswagen's Norwegian record
from pre-lockdown times in 2016.
A finish for Tesla above 30,000 in total
now looks likely.
One of the stories of the week
which wasn't reported so widely
amidst all of the news about Britain
how having a pay per mile charge
on electric vehicles from 2028
was that the government is actually extending
and expanding the electric car grant scheme
in an effort to steady any faltering demand
under the 2025 budget.
The scheme launched only in July
where it's now been funded until 2030.
Total funding for the scheme rises to two billion pounds
that's an extra 1.3 billion pounds earmarked
for the grant applied at the point of sale
cutting the invoice price at dealerships.
Buyers of new battery electric cars
up to 37,000 pounds or less
can get up to 3,750 pounds off.
Support is split into two bands
either 1,500 pounds or 3750
based on what they call an environmental score
that reflects the car's efficiency,
the battery technology,
the lifetime emissions and other things as well.
So far 39 models qualify for help.
Only four currently earn the top discount,
the Citroën EC5 Aircross Long Range,
the Ford E-Torneo Courier,
Ford Puma Jenny and the new Nissan Leaf.
That short list underlines
how the scheme steers money towards smaller,
more efficient models,
mostly in the mass market price bracket
with the E-Torneo perhaps the exception.
Since July, more than 35,000 drivers
have used the grant to move to an electric car,
the sizeable share of the UK
battery electric registrations
in the cheaper end of the market.
Now Alpine is speeding up its shift
to an all-electric performance lineup
confirming two key sports EVs,
a battery-powered successor to the A110
and a new fastback GT aimed at the Porsche 911.
The Renault Group brand plans to field
seven electric-only models by 2030.
Two are already on sale.
That's the A290 Hot Hatch
and the A390 Crossover
with the second generation A110
due next year as a fully electric replacement
for the eight-year-old petrol car.
It's built on the Alpine Performance Platform, APP.
It'll be offered as both Coupe and Roadster.
The APP is a bespoke sports car architecture
engineered to be light and flexible.
It's been designed to accommodate in-wheel motors
developed with British specialist Protein,
a technology already shown
in the Renault 5 Turbo 3E.
That was a concept.
Alpine has yet to commit these motors to production,
but keeping the option alive
suggests room for extreme versions.
The same platform will underpin the new fastback GT
expected to revive the A310 badge.
Alpine has confirmed that it'll seat four
and be available with both fixed and folding roofs,
positioning it among premium grand tours
and in direct contention
to those that otherwise would go buying a Porsche 911.
Styling details are of course under wraps,
but the A310 will closely echo the new A110 styling touches.
Both cars will move away from heavy retro references.
Look at a little more futuristic
in line with the A390 Crossover
while retaining dimensions similar to today's vehicles.
Now Fiat is working on a lightweight,
ultra-cheap electric city car for Europe
using the European Commission's L7 Quadrocycle category
to revive the entry-level EV markets.
Now the L7 rules cap an EVs unladen mass at 400 kilograms.
That's not counting the battery
and limit continuous power to 15 kilowatts,
about 20 horsepower.
That keeps performance modest,
but it also really keeps down costs.
Fiat's new model would be expected to sit
above today's tiny quadrocycles
like the Topolino or the Citroën Ami
and a higher top spec, more power,
a larger battery would allow day-to-day use and range.
Even so, it would be below the current cars
which are on sale at the bottom end of the market.
So full cars are the Dacia Spring,
the Leap Motor T03 currently under 16,000 pounds,
under 15,000 actually.
I found some Dacia Spring deals on pre-reg cars,
so a few months old now, but not driven.
Maybe the old number plate are just over 10,000 pounds.
There was one down here in Dorset
in a particular shade of brown
which wouldn't be my favorite,
but it was just over 10 grand
for what is essentially a brand new car,
albeit a pre-reg car.
Now, back to Fiat.
To stay within the L7 limits
and undercut those prices,
the car would use a small battery,
a real-world range of perhaps 70 to 80 miles.
That would suit short urban trips
rather than long-distance driving.
Brussels is widely tipped to introduce targeted incentives
for the L7 class in coming months
to speed up affordable electrification.
Think of it as Japan's K-Car, equivalent, if you will.
The project follows public lobbying
from Stellantis Europe's then-boss,
Jean-Philippe Imperato,
speaking at the Munich Motor Show.
That was back in September.
He argued that car makers
could revamp and revolutionize the A-Segment in Europe
with City EVs engineered and built locally for 15,000 euros.
Now, Kem Power, the Finnish DC fast-charging specialist,
and honestly, one of the best out there,
is tightening cybersecurity
across its global charging network.
The company's renewed its certification for ISO 27001
and started an ethical hacking program
that targets its charging ecosystem.
This certificate, issued by KPMG for the second year in a row,
covers Kem Power's entire tech stack,
physical DC fast chargers,
the management software, which they call Charge Eye, I think,
and its related cloud systems, the back-end systems.
Now, ISO 27001 is the main international standard
for information security management.
It asks companies to prove they can handle sensitive data
in a structured way, manage risks,
and keep robust technical and organizational controls in place.
For Kem Power, that scope runs from charger hardware
and factory processes to things like cloud services,
showing that information security is being built in
to the next generation of hardware,
the kind of charges that you and I would be going to,
and showing that companies like Kem Power
are taking security incredibly seriously
in cybersecurity.
Now, Kia is giving Canada a first North American launch
for the EV5.
The compact electric SUV will arrive in spring next year,
starting at 43,000 Canadian before fees and tax.
Sized close to the Sportage,
the EV5 slots between the upcoming EV4 and today's EV6.
It rides on the EGMP architecture,
using the cost-conscious 400 volts version of that.
Production will come from Kia's plant in South Korea
with Canada the sole launch market in North America.
Kia plans nine trims and two battery packs,
the entry light trim using a 60 kilowatt-hour pack
and higher trims, starting with the wind,
getting an 81.4 kilowatt-hour pack
and a heat pump for cold weather efficiency in Canada.
Canadian range ratings,
obviously they're still pending,
but early South Korean tests
would point to something around 450 kilometers
on the front-wheel drive versions.
Power train choices, yeah.
So single motor on the front wheels, 160 kilowatt
or an all-wheel drive version,
if you need the traction,
adding a 70 kilowatt motor on the rear axle.
Oil drive version, 262 horsepower
and 7.3 seconds, not a 62.
Kia says 10 to 80 is dispatched in 30 minutes.
That's competitive.
An integrated J3400 or Naxx port
will give the EV5 direct access
to Tesla's supercharger network
and of course the increasing third-party networks
now adding that connector to their chargers.
Pricing from 43,000 Canadian for the light front-wheel drive
are online reservations open in four days' time,
Thursday, December the fourth on Kia's website.
Let's take a break.
We'll come back and lots more to discuss, stick around.
The holidays are expensive.
You're paying for gifts, travel, decorations, food
and before you know it,
you've blown way past what you were planning to spend.
Don't start the new year off with bad money vibes.
Download rocket money to stay on top of your finances.
The app pulls your income, expenses
and upcoming charges into one place
so you can get the clearest picture of your money.
It shows how much to set aside for bills
and how much is safe to spend for the month
so you can spend with confidence.
No guesswork needed.
Get alerts before bills hit, track budgets
and see every subscription you're paying for.
Rocket money also finds extra ways to save you money
by canceling subscriptions you're not using
and negotiating lower bills for you.
On average, rocket money users can save up to $740 a year
when using all the app's premium features.
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by taking control of your finances.
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Hear that?
That's me with a lemonade in a rocker on my front porch.
How did I get here?
I invested to make my dream home.
Home.
Get where you're going with MDY,
the original mid-cap ETF
from State Street Investment Management.
Getting there starts here.
Before investing, consider the fund's investment objectives,
risks, charges, and expenses.
Visit statestreet.com slash im for a prospectus
containing this and other information.
Read it carefully.
MDY is subject to risk similar to those of stocks.
All ETFs are subject to risk,
including possible loss of principal,
Alps distributor, Zinc distributor.
Welcome back to the podcast.
Now, the European Union is currently
being lobbied extremely hard
from the car makers about CO2 emissions.
They're being pushed to weaken
some of the clean air goals.
From 2035, any new car sold
in the European Union
must produce zero carbon dioxide
at the point of driving it.
The point of emission.
That's the tailpipe.
In practice,
because there's no other technology
on the horizon,
although the EU is technology agnostic,
if somebody wants to invent something
that's better than pure BEVs,
then go for it for now.
That means battery electric vehicles.
The hydrogen lobby has been saying
for a long time,
we're better than BEVs.
It doesn't really matter
what the tech solution is,
whatever the best solution is,
then bring it to market.
And so we think that in 10 years time,
that's going to be battery electric vehicles.
Car makers, though,
in the last few months
have now aggressively ramped up
their lobbying to Brussels
to find little ways
to weedle around the rules.
They want permission
to keep selling combustion engines,
either in the guise of plug-in hybrids
or range extenders.
They want to be able to sell
full combustion cars
on so-called carbon neutral fuels.
The European Commission
is due to present a broader support package
for the auto industry
on December the 10th,
and they hope the car industry
that biofuels are part of it.
A new report today
from Transport and Environment,
a campaign group,
urges the Commission to say no.
It notes that the European Union rules
were agreed back in 2018.
They already limit crop-based biofuels
such as those made from palm oil
or soy.
Since then, policy has shifted towards
water-based options,
maybe notably fuels
made from used cooking oil
or animal fats,
now providing about half
of Europe's biodiesel supply.
But the conclusion is blunt,
biofuels should not feature
in a plan from 2035.
If they are used at all,
they would be tightly constrained,
maybe 5% of new car sales
and only for vehicles
on genuinely carbon-neutral fuels.
The technology is here today
and now for battery-electric cars,
but the car makers all make a lot more money
from selling combustion vehicles
and they're lobbying really hard.
Nevada will be the first in the United States
to force a public look
at how quickly big EV charging projects
get connected to the grid.
Regulators hope the move will expose
the bottlenecks that have slowed the roll-out
of duty charging across the county
and the state rather.
Under a new order
from the Nevada Public Utilities Commission,
NV Energy must launch
a year-long data collection program now.
For large charging depots
and highway sites,
the utility will track every step
in the process
from application to commissioning
and report those timelines to regulators.
Problems have delayed commercial
truck depots
and high-capacity highway stations
where long lead times
for studies and upgrades
have been stalling projects in Nevada.
The stakes are high.
Pardon the pun.
Because Nevada is fast becoming
a key corridor
between the West Coast and inland markets.
With Tesla, Chargepoint,
Electrify America, Circle K,
and more, all expanding their footprints in Nevada,
the new reporting rules
should show exactly where projects get stuck.
Is that a study, a permit, a construction?
The turning point will be January,
when mandatory tracking begins
and Nevada's experiment in
data-driven grid connections
gets underway.
Now, a new review is out this weekend
of the new Nissan Leaf
by the highly-regarded
and well-known car journalist Steve Fowler.
He's been driving it, and he says
the Nissan Leaf review,
a British-built EV
to be proud of.
I'll put a link to that review in the show notes
if you'd like to read it.
Nissan's third-gen Leaf
comes back next year,
British-built Family EV,
386 miles of range.
Built once again in Sunderland.
It now sits on the C-MFEV
platform shared with the Nissan Aria,
the Renault Scenic.
Prices will start at 32,249 pounds,
because almost 4,000 pounds
has been taken off.
It now qualifies for the higher-tier grant.
And the car is pitched at buyers
who care more about efficiency,
affordability, practicality
than beating somebody else away from the lights.
Two battery options,
52 or 75 kilowatt hours,
386 miles from the big battery.
Maybe real-world range, they say,
at a 70 miles an hour
of 270 miles.
Charging performance, again,
look, it's modest.
It's 150 kilowatts DC peak,
but that's okay.
The 20 to 80 they give is 30 minutes.
Obviously, that meant the 10 to 80
was a bit more, you know,
optics and all of that kind of stuff.
Now, we'll finish off with news
of plug-in hybrids.
We've seen this story
probably every three months,
if not more often,
delivered in a new way,
delivered in a new study with new data point.
It's not even up for debate anymore,
but I'll deliver another one to you
so you can hear this one.
Plug-in hybrids are emitting far more CO2
than regulators suggest,
and even the car makers themselves
want you to believe.
That's according to a new
large European study
published on November the 28th,
using real-world data
from 127,000
plug-in hybrid vehicles
from 2023.
So sample size big.
The group compared their
on-road performance with the official
lab figures used for regulations
and also in car makers marketing materials.
On paper, plug-in hybrids
would be expected to cut emissions
by 75% with a
non-hybrid standard petrol car.
In practice, it's not
75% emission savings.
It's 19%.
Real-world use produces
68 grams of CO2 per kilometer
on average.
That's five times higher
than the official numbers.
And it's equivalent to burning
almost a gallon of fuel every 62 miles.
The gap reflects how people actually
use plug-in hybrids
because of the taxation benefits
to company car owners who get them
because they were cheaper,
but don't have a charging point
at home and have never charged them.
These procedures assume
that plug-in hybrids operate
in electric mode nearly all of the time.
I think the official number that the regulators
give it is 84%.
That's wildly optimistic.
This new study of 127,000
plug-in hybrids say they weren't running
on electric at 84% of the time.
They were running on electric 27%
of the time.
Many owners charge less often
than the test cycle assumes.
Leaning more on petrol,
the extra weight of the battery,
and the modest power of the electric motor
also means the engine
cuts in a lot more
than the official data suggests
going up a hill, accelerating hard,
up at motorway speeds.
And the findings increase pressure
on European regulators to bring
the testing rules more in line
with reality to rethink
any incentives and revise
any fleet CO2 accounting
moves as we head towards
2030 and then of course again 2035.
And that's your podcast for today.
Thanks for listening. Thanks to our premium
partners National Car Charging on the US mainland
and the Low Heart Charging in Hawaii
and Octopus Electroverse.
Global public charging made simple
with one app and one map. Have a good
and see you tomorrow. And remember this
no such thing as a self charging hybrid.
The number one
resolution for people last year
was to save more money, but nearly half
gave up by February. Don't let that
be you. Download Rocket Money
to reach your financial goals this year.
Track your spending, cut waste,
and automate savings in one simple app.
Rocket Money shows you all your expenses
and categorizes them so you know
exactly where your money is going
and where you're overspending. From there
the app cuts waste by cancelling
your unused subscriptions and
lowering your bills. No customer
service needed. With that money freed up
the app will automatically set some cash
aside for your goals, whether it's
a currency fund, paying off debt,
or saving for vacation. Rocket Money's
got you covered. Users love the app
with over 186,000
5-star ratings. And on average
users can save up to 740
dollars a year when using all
the app's premium features. Make saving
money a priority this year. Go to
rocketmoney.com
to get started. That's rocketmoney.com
slash cancel. Rocketmoney.com
slash cancel.
Here that. That's me in
Tokyo learning to make sushi from a master.
How did I get here? I invested
wisely. Now the only thing I worry about
is using too much wasabi. Get
where you're going with SPI, the world's
most traded ETF. Getting there
starts here with State Street Investment
Management. Before investing consider the
funds investment objectives, risks, charges, and expenses.
Visit statestreet.com slash im for prospectus
containing this and other information. Read it carefully. SPI is
subject to risks similar to those of stocks. All
ETFs are subject to risk including possible loss of principle. Alps
distributors ink distributor.
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This holiday season
reached for the one
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Whether browning
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Thanks for watching.
About this episode
Norway is on the verge of becoming an all-electric vehicle market, with 97.6% of new car sales in November being battery electric. Tesla leads the charge, capturing 31% of the market. Meanwhile, the UK government has extended its electric car grant scheme to 2030, aiming to boost demand. Alpine is set to launch two new electric sports cars, while Fiat is developing an affordable city EV. The episode also discusses concerns over plug-in hybrid emissions and the EU's lobbying efforts regarding CO2 regulations.
