Category: EV vehicles

  • Sodium-Ion Batteries Tested in Winter EVs Amid Rising Lithium Costs

    Sodium-Ion Batteries Tested in Winter EVs Amid Rising Lithium Costs

    Key Takeaways

    1. Lithium carbonate prices fell sharply from over $80,000 per ton in 2022 to below $10,000 due to increased supply and weakened demand for electric vehicles.
    2. The decline in lithium prices halted many mining and battery production projects, but prices are now rising again due to artificial supply constraints and a thriving energy storage market.
    3. Lithium prices surged from $17,000 in December to $26,000 in January, leading major battery manufacturers like BYD and CATL to resume sodium-ion production projects.
    4. CATL’s sodium-ion battery pack maintains 90% capacity at -40°C and can be charged at -30°C, making them suitable for extreme weather conditions and safer than lithium-based batteries.
    5. Sodium-ion batteries could potentially replace up to half of the current lithium iron phosphate (LFP) batteries in electric vehicles, depending on the results of ongoing cold-weather testing.

    After reaching a high of over $80,000 per ton in 2022, the cost of EV battery-grade lithium carbonate fell sharply to below $10,000 last year. This decline was due to a significant increase in supply while the demand for electric vehicles weakened.

    The Impact on Lithium Mining

    The sharp drop in lithium prices halted numerous lithium mining and sodium-ion battery production initiatives, as the lower prices rendered many of these projects unprofitable. Now, however, lithium prices are soaring again, driven by artificial supply constraints, such as the closure of mines due to regulatory actions in China, while the energy storage and electric vehicle export markets are thriving.

    Price Surge and Industry Response

    The price jumped from $17,000 in December to $26,000 in January, prompting the two largest battery manufacturers, BYD and CATL, to resume their commercial sodium-ion production projects. In a related development, CATL has started testing its Naxtra sodium-ion battery pack in cold weather conditions with retail passenger vehicles from Chinese brands like Changan.

    Changan has announced that it will provide details on the results of the cold weather testing of CATL’s sodium-ion battery with its Oshan series sedan in Inner Mongolia on February 5. The testing location, Yakshi, Hulunbuir, is currently facing temperatures that drop to -35°C (-31°F), which is near the threshold for charging tests of sodium-ion batteries.

    Promising Features of Sodium-Ion Batteries

    Recently, CATL introduced a sodium-ion battery pack designed for commercial vehicles that maintains 90% of its capacity at -40 degrees and can be charged normally even at -30°C (-22°F). This feature of sodium-ion batteries makes them appealing for use in various weather conditions. They are also considered safer since they do not contain volatile lithium and are more cost-effective than LFP batteries, especially now that lithium prices are on the rise.

    According to CATL’s CEO, sodium-ion batteries could replace up to half of the current LFP chemistry favorites in mainstream electric vehicles, making it intriguing to see how the cold-weather tests of the Naxtra battery with actual passenger vehicles will turn out.

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  • Tesla Launches $7,000 Cheaper Model Y AWD with Under 300-Mile Range

    Tesla Launches $7,000 Cheaper Model Y AWD with Under 300-Mile Range

    Key Takeaways

    1. Tesla now offers seven trims of the Model Y globally, including a new short-range Model Y AWD in the US.
    2. The Model Y trims in the US range in price from $39,990 to $57,490, providing more options for customers.
    3. The new Model Y AWD has the shortest range of all Model Y versions and is the only Tesla model with less than a 300-mile range.
    4. The Model Y AWD is positioned as a budget-friendly option with a $7,000 price difference from the Premium AWD trim.
    5. Choosing the AWD model means sacrificing luxury features and color options for a more affordable price, with only a slight difference in driving range.

    Tesla has recently expanded its offerings with seven different trims of the Model Y available worldwide. Following the launch of a long-range Model Y RWD in Europe, the company has now introduced a short-range Model Y AWD in the United States. Additionally, the Model Y Standard has been rebranded as the Model Y RWD to steer clear of any negative connotations related to affordability.

    Expanded Choices for Customers

    Currently, Tesla presents five Model Y trims for consumers in the US, with prices ranging from $39,990 to $57,490. This variety gives customers more options after the removal of the Model S and Model X from the lineup, ensuring there is truly something for everyone.

    Price and Performance Adjustments

    The new Model Y AWD trim, which includes an additional motor on the base RWD version while maintaining the same battery capacity, has the least range of all Model Y versions available in the US. It is also unique as the only Tesla model that offers less than a 300-mile range.

    Initially, a $7,000 price gap compared to the Premium AWD trim makes the new Model Y AWD an attractive budget-friendly choice. The Standard RWD version was not performing well in sales, prompting Tesla to enhance its entry-level lineup.

    Trade-offs for Affordability

    However, opting for the AWD model means buyers will miss out on several luxury features, including vented and motorized leather seats, a light bar, panoramic glass roof, HEPA filter, matrix LED headlights, acoustic glass, and a superior sound system. There is also a more limited selection of colors available. In terms of driving range, the difference is only about 30 miles, so the lack of design elements and some comforts might not deter those looking for a more affordable AWD option at a $7,000 lower cost.

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  • CATL Launches 1 Million-Mile Battery: Charges in 12 Minutes

    CATL Launches 1 Million-Mile Battery: Charges in 12 Minutes

    Key Takeaways

    1. CATL has developed a 5C battery that can be fully charged in just 12 minutes and maintains 80% capacity through its lifespan, achieving 1.8 million kilometers (1.12 million miles) before significant capacity loss.

    2. The battery can endure 1,400 charge-discharge cycles at extreme temperatures (60°C) and up to 3,000 cycles in milder conditions (20°C), making it the first million-mile EV battery with rapid charging capabilities.

    3. CATL’s range estimates for electric vehicles equipped with this battery are based on a 600 km (373-mile) average, which may be optimistic compared to EPA figures, but still allows for up to 750,000 miles of use before recycling.

    4. Innovations in battery design include self-repairing electrodes, consistent coating on the cathode to prevent cracks, and improved cooling systems, all contributing to enhanced longevity and safety.

    5. CATL is collaborating with NIO to supply these long-lasting batteries, aiming for a 15-year warranty and at least 85% capacity retention, which could significantly benefit the second-hand EV market.

    The largest battery manufacturer in the world has successfully combined the durability of electric vehicle (EV) batteries with rapid charging features. Following the introduction of the 4C Shenxing battery, which can go from 0-80% in just 15 minutes last year, a new version of its chemistry and production technique has increased the charging speed to 5C while ensuring a long lifespan.

    Impressive Charging Speed

    The latest 5C battery from CATL can be fully charged in only 12 minutes and still maintain at least 80% of its capacity throughout the electric vehicle’s lifespan. It can handle 1,400 complete charge-discharge cycles at 5C speeds in extreme heat of 60°C (120°F), or an astonishing 3,000 cycles in milder 20°C weather.

    This advancement means that CATL has developed the first million-mile EV battery capable of 5C charging, making those quick coffee-break charging advertisements a reality. The company claims that this battery can power an electric vehicle for over 1.8 million kilometers, which is around 1.12 million miles, before its capacity decreases to 80% of the original.

    Range Estimates and Comparisons

    It’s important to note that CATL’s calculations are based on a 600 km (373-mile) average EV range, which may seem a bit too optimistic, likely reflecting the local CLTC range testing cycle. This estimate is about a third more generous than the EPA’s figures in the US, as it includes more urban driving.

    However, even with this discrepancy, electric cars equipped with CATL’s new long-lasting battery will manage to cover up to 750,000 miles before the battery needs recycling, effectively outliving the vehicle based on the average annual mileage in the US.

    Innovations in Battery Design

    To achieve such remarkable longevity, CATL has tackled three main vulnerabilities associated with fast-charging EV batteries. Firstly, the electrodes have been engineered to self-repair by incorporating an SEI additive into the electrolyte, which helps to heal microcracks that develop during rapid charging. These cracks lead to lithium leakage and accelerate battery capacity loss.

    Furthermore, the coating film on the cathode has been made more consistent to reduce the occurrence of these cracks, while the separator coating diminishes ion transfer during elevated temperatures, thus preventing thermal runaway.

    Additionally, the design of the battery pack has been enhanced, allowing coolant to be directed to the areas that need it most at any moment, ensuring the cells stay cool under any conditions and significantly extending the lifespan of the pack.

    Future Collaborations

    While CATL has not yet disclosed which automaker will be the first to utilize its new long-lasting fast-charging batteries, it has recently entered into an agreement with NIO to supply these batteries that are expected to last the entire lifespan of an EV.

    Both NIO and CATL are working towards establishing a national EV standard that would require a 15-year battery warranty, ensuring at least 85% capacity retention. The technology appears to be in place, and CATL’s new million-mile 5C battery could dramatically enhance the second-hand EV market as well, as battery lifespan has been a primary concern for buyers of used electric vehicles, especially regarding fast-charging capabilities.

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  • Xiaomi Adds China’s Cheapest 1500 HP Car to Gran Turismo PS5

    Xiaomi Adds China’s Cheapest 1500 HP Car to Gran Turismo PS5

    Key Takeaways

    1. Xiaomi’s SU7 Ultra is the first Chinese vehicle in Gran Turismo, showcasing its growing electric vehicle market.
    2. The SU7 Ultra features a tri-motor system with 1,548 horsepower, making it a top contender in the racing game.
    3. It outperforms the Bugatti Chiron in its category despite being significantly cheaper at around $73,000.
    4. The SU7 Ultra is claimed to be the fastest four-door sedan in mass production, reaching speeds of 350 km/h (217 mph).
    5. Gran Turismo 7 players can now race with the SU7 Ultra, marking a potential shift towards more electric vehicles in racing games.

    Phone manufacturer Xiaomi has developed the first-ever Chinese vehicle to join the Gran Turismo garage. The racing simulator collaborated with Xiaomi, which has seen its emerging electric vehicle (EV) business grow five times quicker than Tesla, to integrate the handling of its SU7 Ultra supercar into the game.

    Discounted Gran Turismo 7

    In Gran Turismo 7, currently available on Amazon for the PS5 at a 39% discount, the Xiaomi SU7 Ultra is positioned in one of the top two categories. With a tri-motor system generating 1,548 horsepower, it falls just 52 HP short of the five hypercars in this famous racing game series.

    Competing with the Best

    However, it takes the lead in its category on Gran Turismo, surpassing the 1,479 HP Bugatti Chiron to claim the top position, even though it is priced at about $73,000 compared to the Chiron’s three-million-dollar tag. The Bugatti struggles to match the swift acceleration of the electric powertrain, and the Xiaomi SU7 Ultra even outperforms other EVs in its price range, such as Tesla’s Model S Plaid, in drag racing.

    A New Era for Electric Vehicles

    Xiaomi also claims that the SU7 Ultra is the fastest four-door sedan in mass production, capable of achieving speeds of 350 km/h (217 mph). Offering this vehicle in the $70,000-$80,000 price range is a fresh addition to the Gran Turismo lineup, where vehicles boasting 1,500+ HP usually come with million-dollar price tags.

    Players of Gran Turismo 7 can now race with the first Chinese car ever featured in the game, and its electric nature might signal future trends. Reports indicate that Sony is looking to add BYD’s 2025 U9 Extreme to Gran Turismo as well. This car, with over 3,000 HP, has now been recognized as the fastest in the world, reaching a top speed of 308 mph, dethroning Bugatti from its long-held position.

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  • Tesla Moves 4680 Battery Supply from Cybertruck to Model Y

    Tesla Moves 4680 Battery Supply from Cybertruck to Model Y

    Key Takeaways

    1. Tesla plans to use its own 4680 batteries in the 2026 Model Y after previous issues with energy density and repairability.
    2. The company is shifting focus to improve the 4680 battery’s performance and has faced challenges with low sales of the Cybertruck.
    3. Tesla aims to produce 4680 batteries more cheaply using a dry electrode method, but they still have thermal inefficiency compared to Panasonic’s 2170 cells.
    4. The new approach allows for individual cell repairs by integrating 4680 cells into non-structural battery packs, improving repairability.
    5. Specific Model Y versions equipped with 4680 batteries are yet to be announced, raising curiosity about their charging performance.

    Tesla is once again planning to use its own 4680 batteries in the 2026 Model Y. The first attempt at this didn’t go very well, as the initial structural battery pack that was integrated into the chassis was not able to be repaired. Additionally, the first generation of 4680 batteries had low energy density and a poor charging curve.

    New Developments

    Due to these issues, Tesla decided against using 4680 cells in the Model Y and instead focused on creating a second version of the battery that would have better energy density for the Cybertruck. However, the electric pickup hasn’t been selling well, leaving Tesla in a tough spot. They even had to stop production on two of their other premium models, the S and X, which saw a 50% drop in sales in 2025.

    Elon Musk hinted during the Q4 earnings call that the Cybertruck might be remodeled as an autonomous vehicle for work. Meanwhile, Tesla might have enough production capacity for the 4680 batteries, made using the more affordable dry electrode method, to begin fitting “some Model Ys with our 4680 cells.” The company blames supply chain issues due to tariffs for this change.

    Performance Concerns

    While Tesla may be able to produce the 4680 batteries more cheaply now, they still suffer from thermal inefficiency and a less favorable charging curve compared to Panasonic’s 2170 cells. This could leave potential buyers feeling uncertain about the news of the 4680 batteries returning to the Model Y lineup.

    On the bright side, there are some positives regarding the switch back to Tesla’s own 4680 cells, even if they are not as good as the 2170 packs in long-range Model Y versions. According to Tesla’s CFO, their engineers are working on resolving supply issues by incorporating 4680 cells into non-structural battery packs.

    Repairability Improvement

    This means that Tesla is now placing 4680 cells into the trays of the 2170 pack housing, which could allow for repairs by replacing only the individual cells that fail. Earlier, Tesla utilized a cell-to-pack method where the large 4680 battery was part of the Model Y’s structure, using a large amount of adhesive that made it impossible to remove individual cells. This setup meant that the entire battery would need to be replaced once it failed.

    Tesla hasn’t disclosed which specific versions of the Model Y will come equipped with 4680 batteries, but curious customers will find out shortly and will likely test the charging curve to see if Tesla has remedied the previous charging speed problems seen in the Cybertruck and the first generation of Model Y 4680 cells.

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  • Tesla Ends Model S/X as Sales Drop 50%: No 400-Mile or 1,000 HP EV

    Tesla Ends Model S/X as Sales Drop 50%: No 400-Mile or 1,000 HP EV

    Key Takeaways

    1. Tesla is discontinuing the Model X and Model S due to tough competition and declining sales.
    2. New competitors, like the Volvo EX60, offer similar or better features at lower prices.
    3. The Model S is priced higher than rivals such as the Lucid Air, despite lacking some comfort features.
    4. Tesla is pivoting towards more affordable electric cars, focusing on mid-range models like the Model Y and Model 3.
    5. The future of the Cybertruck is uncertain, with plans to potentially market it as a fully autonomous work vehicle.

    Tesla is currently encountering tough rivals in the high-end electric vehicle market, leading the company to pivot towards offering more affordable electric cars. This shift involves discontinuing its well-known Model X and Model S models just months after their recent updates.

    New Competition on the Block

    Take the new Volvo EX60 as an example; it’s a 2-ton SUV capable of traveling 400 miles on a single charge, which is comparable to Tesla’s longest-range Model S sedan. However, it comes at 30% less cost than the Model X, while boasting a modern 800V powertrain and a more upscale interior.

    Challenges for the Model S

    The Model S itself faces a similar issue, being priced 20% higher than competitors like the Lucid Air Touring, even though its specifications are quite alike and it lacks some comfort features. As it becomes clearer that Tesla struggles to compete on price in the premium EV market, the decision to phase out both the Model X and Model S has been made.

    Tesla plans to halt production of the Model S and Model X by June 2026, but it will continue to provide support to their owners. Elon Musk mentioned some vague “shift to an autonomous future” as the reason for discontinuing these models, but the truth is, their sales simply aren’t strong. Over the past year, sales of the Model S and Model X have dropped by 50%, and Tesla’s “other” vehicle category in sales has always been quite small.

    Concerns with Current Offerings

    Similar to the Cybertruck, these vehicles are priced over $100,000 but feature an outdated powertrain, slow charging times, and an interior that doesn’t meet expectations for this price range. Features like falcon wing doors or a 1,000 HP tri-motor setup haven’t been enough to save them from poor sales.

    Tesla is also considering the future of the Cybertruck, which is performing even worse than the Model X or Model S. After trying to introduce it in markets like the UAE, Tesla is now contemplating whether to promote it as a fully autonomous work vehicle. Musk commented, “We will transition the Cybertruck line to just a fully autonomous line. There’s a lot of cargo that needs to move locally within a city, and an autonomous Cybertruck could be very useful for that.”

    The Future of Tesla’s Offerings

    In essence, Tesla seems uncertain about the role of the Cybertruck as well, leading to the decision to cut all premium vehicles from its retail offerings. Initially, Tesla focused on luxury electric cars, but it appears there’s no longer a market for them, at least not for Tesla’s versions. The company seems to be shifting towards selling only mid-range models like the Model Y and Model 3. As for the Fremont factory, where the Model S and Model X were produced, it will likely transition to producing Optimus and solar assemblies instead.

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  • Uber vs Lyft vs Waymo vs Model Y: Ride Share Price & Wait Time Comparison

    Uber vs Lyft vs Waymo vs Model Y: Ride Share Price & Wait Time Comparison

    Key Takeaways

    1. Tesla has launched its Robotaxi service in cities like Austin and San Francisco, offering significantly lower prices compared to competitors.
    2. Tesla’s fares are often two to three times cheaper than established ride-sharing services like Uber and Lyft, with rides in San Francisco averaging only $8.
    3. Waymo’s pricing has improved, reducing the gap with Uber from 40% to just 13%, but Tesla’s rates remain considerably lower.
    4. Tesla’s estimated wait time for a ride is about 15 minutes, while Waymo and Lyft have shorter average wait times of just over five minutes.
    5. Tesla is rapidly expanding its Model Y robotaxi fleet and plans to increase the number of unsupervised rides, addressing challenges related to vehicle availability and wait times.

    Tesla has launched its new Robotaxi ride-sharing service in cities such as Austin and San Francisco, using the 2026 Model Y vehicles. This service has significantly reduced prices, undercutting competitors by two to three times.

    Competing with Established Brands

    This pricing advantage extends to established companies like Uber and Lyft, as well as fully autonomous rides from Google’s Waymo. Although Waymo has historically been pricier than Uber or Lyft, its rates are quickly decreasing. The price gap between Waymo and Uber has shrunk from as much as 40% to just 13%, and it’s only 2% for rides under six miles.

    Unmatched Pricing from Tesla

    Tesla’s Robotaxi fares are unmatched, with rides in San Francisco costing less than ever before. The average fare for a Tesla ride there is only $8, while Lyft charges double that amount. According to a study on average ride share prices, Tesla charges $1.99 per kilometer ($3.20 per mile), while Waymo’s rates are nearly three times higher. This data comes from an analysis of 94,348 rides, which includes both trip costs and waiting times.

    Wait Times Compared

    While Tesla excels at pricing, the estimated time of arrival (ETA) for a Model Y is about 15 minutes when requested. In contrast, Waymo, the other player focused on robotaxis, has an average wait time of just over five minutes, similar to Lyft’s ETA.

    It’s important to note that Tesla has far fewer robotaxis operating than Waymo, with around 156 Model Y units in the Bay Area using the FSD (Unsupervised) software. Waymo boasts over a thousand automated vehicles, which naturally leads to shorter wait times.

    Rapid Expansion of Tesla’s Fleet

    Tesla is rapidly increasing its Model Y robotaxi fleet and has begun offering unsupervised rides in Austin, much like Waymo. According to Tesla’s AI chief, as time goes on, the proportion of unsupervised rides will grow, along with the fleet size, and this process has already been initiated.

    In summary, Tesla is providing unbeatable prices for ride-sharing to encourage quicker adoption of its Robotaxi app and services, similar to how Uber and Lyft did when they started. This strategy aims to counteract the common challenges faced by new entrants, such as a limited number of vehicles leading to longer wait times. A survey of respondents indicates that robotaxis are already becoming a norm in the Bay Area, as nearly half expect one to arrive after a ride share request, which is promising for the future of autonomous car-sharing services.

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  • Volvo EX60: The Ultimate Apple Car, According to Experts

    Volvo EX60: The Ultimate Apple Car, According to Experts

    Key Takeaways

    1. Apple has ended its plans for the iCar and Project Titan in February 2024.
    2. The Volvo EX60 is seen as a strong alternative, embodying characteristics expected from an Apple product.
    3. The EX60 is designed as a “software-defined vehicle,” continuously improving through data collection.
    4. Its advanced SPA3 platform allows for gradual performance enhancements and new features over time.
    5. Volvo is positioned as a vibrant and technologically sophisticated brand, filling the role originally envisioned for Apple in the automotive market.

    In February 2024, Apple decided to end its plans for the iCar and Project Titan. However, Matthias Schmidt from Schmidt Automotive Research has noticed something interesting in his latest report. He believes that Volvo’s EX60 perfectly fills the void left by Apple.

    The Unique Appeal of the Volvo EX60

    According to Schmidt, the Volvo EX60 has the kind of characteristics that many would have anticipated from an Apple product. Its design is sleek, practical, and has a distinct Nordic flair. However, what truly matters is what’s under the hood. Volvo is not just jumping on a trend; it’s committed to developing the Volvo EX60 as a “software-defined vehicle.” This electric car continuously gathers data—not just for fun, but to gain insights.

    Continuous Improvement Over Time

    Much like a smartphone’s operating system that evolves over time, the Volvo EX60 is built to enhance its capabilities while parked in the owner’s garage. Schmidt points out the car’s safety features, which learn from real-life driving experiences and accident situations. The algorithms become more intelligent, receiving updates in real time. This blend of hardware safety and adaptive software was the very essence that many hoped to see from the Apple Car.

    Advanced Technology Behind the Scenes

    This is all made feasible thanks to the innovative SPA3 platform paired with the “Superset” tech stack, which enables “progressive performance enhancement” over time. Basically, Volvo no longer needs to set all functionalities in stone at launch; instead, performance can be improved gradually, and new features added as real-world data shows that users won’t face any downsides or safety issues. This method of maximizing hardware capabilities through evolving software has been a hallmark of Apple for many years.

    Schmidt’s tone turns a bit reminiscing in his analysis. He remembers that while Steve Jobs was often spotted later in life driving his iconic silver Mercedes SL without any plates, the young Apple co-founder was seen driving a Volvo station wagon in the 2013 movie “Jobs.” “If he were still around,” Schmidt writes, “one could easily picture him behind the wheel of an EX60 today.” For the analyst, this clearly indicates that the Volvo brand is vibrant, technologically sophisticated, and now assuming the role that was originally envisioned for Apple.

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  • Artemis Delivers Three High-Speed Hydrofoil Ferries to Belfast

    Artemis Delivers Three High-Speed Hydrofoil Ferries to Belfast

    Key Takeaways

    1. Artemis has delivered three EF-24 hydrofoil electric ferries to Belfast, known for their high-speed capabilities.
    2. The EF-24 ferry design accommodates around 150 passengers, offering a fresh approach compared to existing models like the Boeing 929.
    3. Three planned routes for the EF-24 in the UK include Belfast to Bangor, around the Orkney Islands, and from Southampton to Cowes.
    4. The ferries can cruise at speeds of 34 knots (63 km/h) with a range of 70 nautical miles, potentially reducing environmental impact.
    5. The project has faced delays due to challenges in new propulsion technologies, with operations expected to start by 2026 if test runs are successful.

    Artemis has recently shared the good news of delivering three EF-24 hydrofoil electric ferries to Beflast. The Artemis EF-24 Passenger ferry is recognized for its high-speed capabilities, utilizing hydrofoils to glide mainly above the water. This method is somewhat similar to how the Boeing 929 (jetfoil) operates, which is predominantly used in East Asia, but the EF-24 is much larger in size.

    New Hydrofoil Design

    The EF-24 represents a fresh approach to hydrofoil design, providing seating for about 150 passengers. In comparison, the Boeing model can accommodate nearly double that number and is driven by an aircraft engine. A few years back, Kawasaki constructed a prototype using leftover parts under license, but since then, advancements in hydrofoil and jetfoil technology have been scarce. Although these boats have the capability to potentially replace or complement air travel, maintenance has proven to be quite demanding.

    Opening Up Waterways

    Now, the EF-24 is poised to revolutionize the waterways with its high-speed electric capabilities. There are three planned routes in the UK: from Belfast in Northern Ireland to Bangor in Wales, around the Orkney Islands in Scotland, and from Southampton in England to Cowes on the Isle of Wight.

    However, the entire project has faced delays, as Artemis concedes in its press announcement, due to unexpected challenges in rolling out new propulsion technologies. The company has not yet revealed when the electric ferries, which are currently being equipped in Belfast, will start operations. If the test runs are successful, there is a solid chance that they could be operational by 2026.

    Speed and Efficiency

    The ferries are designed to cruise at 34 knots, which is approximately 63 km/h (39.15 mph), across the water. They have a claimed range of 70 nautical miles (about 130 km/80 mi), suitable for rapid hydrofoil travel. Typically, these vessels lift out of the water only at a distance from the port. According to Artemis, the ferries can achieve high speeds relatively quickly. This hull-lifting could lead to significantly less harm to coastlines due to reduced wave generation. However, such advancements might necessitate changes in shipping regulations.

    Artemis Technologies’

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  • Cheapest Tesla Launches at $29K with Compromises

    Cheapest Tesla Launches at $29K with Compromises

    Key Takeaways

    1. Tesla has launched a new base Model 3, priced at approximately $25,800 after subsidies, to boost declining sales.
    2. The new Model 3 Standard features a smaller battery, resulting in a reduced range of 382 km compared to the European model’s 534 km.
    3. This budget Model 3 includes basic features like black cloth seats and manual adjustments, omitting some comforts and infotainment options.
    4. The Model 3 Standard is now the most affordable Tesla globally, even cheaper than the starting price in China.
    5. Tesla may expand this budget model’s availability in China to compete with affordable local EVs from brands like BYD.

    Tesla appears to be starting a new approach to budget vehicle pricing in an effort to boost its declining sales. They’ve launched a new base Model 3, which is now the least expensive in the world, costing about $25,800 after applicable subsidies.

    New Features and Compromises

    The latest Model 3 Standard offers a range of features and design adjustments that have made it possible for Tesla to hit a price point that was previously associated with the much-discussed Model 2, which never came to be.

    The 2026 Model 3 Standard that was recently introduced in Korea has a price of 42 million won, which is roughly $29,000. Additionally, with the help of government EV subsidies, the already low price of the Model 3 is further reduced, putting it close to the rumored price range of the mass-market Tesla Model 2.

    Comparison with Other Markets

    This new Model 3 Standard is now the most affordable Tesla available, as even in China, the starting price for the Model 3 Standard is around $33,770. Interestingly, the new Korean Model 3 is also produced in the Shanghai Gigafactory and then shipped out.

    A glance at the vehicle’s specifications reveals how Tesla managed to set this attractive price. The Korean Model 3 Standard is equipped with a smaller battery. While the cheapest Model 3 Standard in Europe offers a range of 534 km, the $29,000 version in Korea provides only 382 km on the same WLTP cycle. The acceleration remains the same at 6.2 seconds for 0-62 mph, suggesting that Tesla has crafted a new budget version of the Model 3 specifically for the Asian market. The anticipated affordable Model 2 was expected to have a 54 kWh battery and a range of 250 miles, which aligns perfectly with the new base Model 3 specs.

    Additional Compromises

    Beyond the smaller battery, the new Model 3 has other trade-offs. It features only black cloth seats and comes with just one set of 18″ wheels. There are no front seat ventilation or rear seat heating options, and seat and steering wheel adjustments are manual, using levers. Even basic infotainment features, like a radio, have been removed, raising questions about the price difference compared to the next trim level.

    Since the vehicle is manufactured in Shanghai, it’s likely that Tesla will introduce this budget model in China too, potentially at an even lower price to compete against the growing number of affordable Chinese EVs from companies such as BYD. Tesla is set to announce its earnings on Wednesday, January 28, after the market closes, and Elon Musk may reveal more details regarding this new budget pricing strategy during the announcement.

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