This week, we have news on Buying an EV, Lamborghini Electric, Electric 5 Series, and an In-Wheel System: Our Top EV News for the week of Mar 23, 2023.
If you like EV news, make sure to subscribe to our bi-weekly EV newsletter. You can find our most recent edition here.
Bio: John is the COO at EPG, a company focused on helping electric and autonomous vehicle companies hire the best talent. In addition to these services, EPG puts out an informative weekly newsletter dubbed Mobility EVo. You can sign up for the newsletter here.
Buying an EV
Tax season has arrived, but don't let the thought of crunching numbers dampen your dreams of owning a brand-new EV, especially if you've got a refund headed your way. With an overwhelming influx of news and updates each day, it's easy to feel lost. But don't worry, we've got your back. Here's how I’d approach the purchase of a new EV:
- Pick Your Perfect Vehicle Type: As a parent who needs extra space for the kids and all-wheel drive for those frosty winter months, I'm narrowing my search down to SUVs and trucks.
- Price, Incentives, and Setting Your Budget: Everyone's budget will differ, but let's assume I’m aiming to maximize the price and incentives for my purchase. Sounds simple, right? Well, sort of.
Federal Level Incentives: Bear in mind that the Treasury and IRS could update these qualifications. However, as of now, here are the rules to qualify for a $7,500 Tax Credit:
- The vehicle's MSRP must not exceed $80,000 for vans, SUVs, and trucks or $55,000 for other vehicles.
- Modified AGI must not exceed…
As Lamborghini breaks records with over 9,000 vehicles delivered in 2022, the iconic brand faces an 18-month waiting list for its high-performance supercars. Even with surging demand, the legendary automaker is preparing for a paradigm shift by phasing out internal combustion engines in favor of plug-in hybrids by 2024 and its first BEV in 2028.
Electric 5 Series
Oh, the memories of my dad's first BMW – an Oxford Green e34 525. Over time, his collection grew to include an e28, several e39s, and an F10. Among them all, the legendary e39 always held a special place in his heart.
Now, the 5 series is coming in a fully electric version. The upcoming eighth generation of the BMW 5 Series Sedan, debuting in just a few months, will feature its first-ever purely electric drive system, the BMW i5. BMW also plans to launch an all-electric M Performance model within the 5 Series Sedan lineup. Furthermore, the popular BMW 5 Series Touring will see an all-electric version in 2024.
South Korean auto parts manufacturer Hyundai Mobis has successfully developed a groundbreaking in-wheel system. This first-of-its-kind technology has yet to be mass-produced in the industry. The in-wheel system allows independent control of each wheel, significantly enhancing power efficiency and driving performance. This cutting-edge technology is a vital component of the e-Corner module, a futuristic mobility solution designed to enable zero turns and crab walking in electric vehicles.
Want these stories and more directly in your inbox every Thursday? Sign up now! We recently refreshed our website. Check it out.