Connect with us

News

Tesla set to dominate North America’s used car market as officials ponder 2nd-hand EV incentives

Published

on

Telsa could dominate the United States and Canada’s used car industry as politicians contemplate introducing tax credits and rebates for used electric vehicles (EVs). 

Transport Canada, a federal institution responsible for transportation policies and programs, is considering ways to introduce federal rebates for used electric vehicles. The United States seems to be exploring similar policies. 

Earlier this year, Representative Mike Thompson (D-CA) reintroduced the Growing Renewable Energy and Efficiency Now (GREEN) Act, which would give tax credits to consumers who purchase a secondhand electric vehicle. 

Tesla started producing its affordable Model 3 sedan only a few years ago, but it has already started making headways in the used car market. Teslarati previously reported that the Tesla Model 3’s share in the US used car market doubled this year from 3.5% in Fall 2020 to 6.5% by April 2021. 

The Tesla brand has also made its mark in Canada. A new analysis revealed that CA$102 million of about CA$296 million sent to dealerships for selling EVs went to buyers who purchased a Tesla. Transport Canada stated that Tesla Model 3 purchases represented nearly 25% of the incentive program’s claims. The program offers EV buyers an upfront discount of either CA$5,000 or CA$2,500, then sellers can claim the incentives to be reimbursed.

Incentives for used electric vehicles could help drive the cost of EVs down, making them more affordable for mid- to low-income households. Given the rate used Tesla Model 3 sales are growing, the used EV market could significantly expand over the next few years. 

Advertisement

“Our used Tesla vehicle business continues to grow in total volume and improve financially. The volume in this business is a function of historical new car deliveries, which suggests our used car business has a strong foundation for growth. Additionally, we remain focused on global growth in a service capacity, reduced customer wait times, and improved operational efficiency,” noted Tesla in its 2021 Update.

Read the reintroduced GREEN Act below!

Green Act 2021 by Maria Merano on Scribd

The Teslarati team would appreciate hearing from you. If you have any tips, email us at tips@teslarati.com or reach out to me at maria@teslarati.com.

Advertisement

Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

Advertisement
Comments

News

Ukraine completes first Starlink direct-to-cell test in Eastern Europe

The trial was announced by the Ministry of Digital Transformation and Kyivstar’s parent company Veon, in a press release.

Published

on

Credit: SpaceX

Ukraine’s largest mobile operator, Kyivstar, has completed its first test of Starlink’s Direct to Cell satellite technology, enabling text messages to be sent directly from 4G smartphones without extra hardware. 

The trial was announced by the Ministry of Digital Transformation and Kyivstar’s parent company Veon in a press release.

First Eastern Europe field test

The Zhytomyr region hosted the pilot, where Deputy Prime Minister Mykhailo Fedorov and Kyivstar CEO Oleksandr Komarov exchanged texts and even made a brief video call via Starlink’s satellite link in northern Ukraine’s Zhytomyr region. 

Veon stated that the test marked Eastern Europe’s first field trial of the technology, which will allow Kyivstar’s 23 million subscribers to stay connected in areas without cellular coverage. The service will debut in fall 2025 with free text messaging during its testing phase.

“Our partnership with Starlink integrates terrestrial networks with satellite platforms, ensuring that nothing stands between our customers and connectivity – not power outages, deserts, mountains, floods, earthquakes, or even landmines,” Veon CEO Kaan Terzioglu stated.

Advertisement

Starlink in Ukraine

Kyivstar signed its Direct to Cell agreement with Starlink in December 2024, about a year after a major cyberattack disrupted service and caused nearly $100 million in damages, as noted in a report from the Kyiv Independent. Starlink technology has been a pivotal part of Ukraine’s defense against Russia in the ongoing conflict.

“Despite all the challenges of wartime, we continue to develop innovative solutions, because reliable communication under any circumstances and in any location is one of our key priorities. Therefore, this Kyivstar project is an example of effective partnership between the state, business, and technology companies, which opens the way to the future of communication without borders,” Mykhailo Fedorov, First Deputy Prime Minister of Ukraine, said.

Continue Reading

News

Tesla Model Y L spotted seemingly en route to showroom in China

It appears that Tesla has started shipping out some initial Model Y L units to select stores across China.

Published

on

Credit: @thaichiminh1907/X

Tesla China definitely seems to be following an accelerated schedule in the well-speculated rollout of the Model Y L, the extended wheelbase, six-seat variant of the electric vehicle maker’s best-selling crossover.

Based on images that have been recently shared online, it appears that Tesla China has started shipping out some initial Model Y L units to select stores across the country.

Recent sighting

Last week, reports emerged suggesting that Giga Shanghai has started the production of the Model Y L. While the progress of the Model Y L’s rollout seems extremely quick, there have been notable signs that the electric car maker is indeed preparing for the rollout of the upcoming vehicle. The Model Y L, for example, was listed in the China Ministry of Industry and Information Technology’s (MIIT) latest batch of new energy vehicle models that are eligible for vehicle purchase tax exemptions.

Less than a week after these reports, Tesla watchers from China have shared photos of a mysterious vehicle being transported to a Tesla showroom in Jiangsu. The vehicle in the images was wrapped from bumper to bumper, though one could see that it is quite a bit longer than the other Model Y being transported in the same truck. Interestingly enough, the covered Model Y unit also seemed to be equipped with different front seats than standard Model Ys.

What to expect from the Model Y L

The MIIT’s listing for the Model Y have provided a pretty good teaser on what to expect from the extended wheelbase version of Tesla’s best-selling crossover. As per the MIIT’s list, the Model Y L will feature a 82.0-kWh lithium-ion battery from LG Energy Solution, which should give the vehicle a CLTC range of 751 km. The Model Y L is also expected to add roughly 178 mm (7 inches) to the overall length of the standard Model Y, with 152 mm (6 inches) being dedicated to stretching the wheelbase.

Advertisement

Initial images from the MIIT’s list also suggest that the Model Y L will feature a dedicated badge with an afterimage effect on the “Y.” The vehicle’s wheels also seemed to be equipped with a new set of 19” wheels that feature a star-esque pattern.

Continue Reading

Investor's Corner

Elon Musk issues dire warning to Tesla (TSLA) shorts

This time around, Tesla shorts should probably heed his words.

Published

on

Credit: Tesla

Elon Musk has issued a dire warning to Tesla (NASDAQ:TSLA) short sellers. If they do not exit their position by the time Tesla attains autonomy, pain will follow. 

Musk has shared similar statements in the past, but this time around, Tesla shorts should probably heed his words.

Musk’s short warning

The Tesla CEO’s recent statement came as a response to Tesla retail shareholder and advocate Alexandra Merz, who shared a list of the electric vehicle maker’s short-sellers. These include MUFG Securities EMEA, Jane Street Group, Clean Energy Transition LLP, and Citadel Advisors, among others. As per the retail investor, some of Tesla’s short-sellers, such as Banque Pictet, have been decreasing their short position as of late.

In his reply, Elon Musk stated that Tesla shorts are on borrowed time. As per the CEO, TSLA shorts would be wise to exit their short position before autonomy is reached. If they do not, they will be wiped out. “If they don’t exit their short position before Tesla reaches autonomy at scale, they will be obliterated,” Musk wrote in his post.

Tesla’s autonomous program

Tesla short sellers typically disregard the progress that the company is making on its FSD program, which is currently being used in pilot ride-hailing programs in Austin and the Bay Area. While Tesla has taken longer than expected to attain autonomy, and while Musk himself admits to becoming the boy who cried FSD for years, autonomy does seem to be at hand this year. Tesla’s Unsupervised FSD is being used in Robotaxi services, and FSD V14 is poised to be released soon as well.

Advertisement

Elon Musk highlighted this in a response to X user Ian N, who noted that numerous automakers such as Audi, BMW, Fiat-Chrysler, Ford, GM, Honda, Mercedes-Benz, Volkswagen, and Toyota have all promised and failed in delivering autonomous systems for their vehicles. Thus, Tesla might be very late in the release of its autonomous features, but the company is by far the only automaker that is delivering on its promises today. Musk agreed with this notion, posting that “I might be late, but I always deliver in the end.”

Continue Reading

Trending