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Many people expect electric vehicles to be fixtures in a future world that relies on renewable energy. But not many EV companies started out as renewable energy companies.

One company trying to pull off that feat is Bangkok-based Energy Absolute. The biodiesel producer and renewable energy company branched into the commercial EV business in 2019.

In March of this year, Thailand set a goal of 1 million electric vehicles on its roads by 2025 — and it hopes that figure will grow to 15 million a decade later. That would include not just private automobiles but commercial vehicles — delivery vans, trucks, buses and the like.

A former securities trader, Somphote Ahunai, started Energy Absolute in 2006. He took the company public in Thailand in 2013 and began expanding into energy storage in 2016, when the company acquired shares in Taiwan-based Amita Technologies, an energy storage manufacturer. It’s now in the final stages of building a $3 billion battery gigafactory project to make lithium-ion batteries.

Ahunai told CNBC’s “Managing Asia” that the government’s efforts to promote EV adoption in Thailand have helped him to start the project, and now he says he’s urging the government “to open up the market and create a favorable policy for the EV market.”

However, the pandemic has affected the company’s foray into EVs. An order for 3,500 five-seater hatchbacks was canceled by a local taxi company as tourism dried up. Ahunai made a quick pivot to focus on commercial vehicles and battery storage instead.

“Many manufacturers, they are focusing on the passenger car. Not many people are focusing on the commercial vehicle yet, because they cannot overcome how to make the vehicle charge faster and make the battery last longer,” Ahunai said.

Ahunai’s plan is to install 1,000 charging stations nationwide in the next few years.

A charging sign sits at an Energy Absolute Anywhere charging station in Bangkok, Thailand, 2019.
Nicolas Axelrod | Bloomberg | Getty Images

“We have rolled out almost 500 charging stations nationwide, mainly in Bangkok and vicinity,” Ahunai said, adding that the company holds almost 80% market share for charging stations in Thailand.

His focus on commercial vehicles is in line with Thailand’s policy to put some 70,000 commercial electric vehicles on the road annually.

“If we successfully secure [the commercial electric vehicle] segment … then we create economies of scale for us to go into the other segments,” such as passenger cars, Ahunai said.

Japanese, American and German automakers all have manufactured vehicles in Thailand, but despite the country’s auto-making expertise, it doesn’t have an internationally recognized vehicle brand of its own. Ahunai said he believes EVs could change that. He wants Energy Absolute to be front and center on that effort.

“We believe that by using [our] technology and Thailand’s [auto-making] infrastructure, we can use that to be the springboard to the global market,” Ahunai said. “At least, we can go into the ASEAN market, which has almost 600 million population. So, that is a good market for us at the beginning, to start with.”

Right now, the bulk of the company’s revenue still comes from renewable energy such as wind and solar, but Ahunai said his foray into commercial EVs will be an important source of future revenue.

“If you look at what we are investing [in] now,” he said, “it will totally change the revenue structure of the company in a few years’ time.”

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Hyundai’s new Kona Electric is even cheaper to lease than the gas-powered model at $169/mo

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Hyundai's new Kona Electric is even cheaper to lease than the gas-powered model at 9/mo

The newly designed Hyundai Kona Electric is better in every way, with more range, faster charging, and a bold new style. Hyundai’s new 2024 Kona Electric is even cheaper to lease than the gas-powered model, starting at $169 per month.

Hyundai Kona Electric cheaper to lease than gas model

Hyundai revealed the 2024 Kona Electric at the NY Auto Show last April with a sleek new “EV-derived” design.

You can instantly see the upgrades with a modern style closer to its IONIQ 5 and 6 dedicated EVs. The inside is nearly 6″ longer, with an additional 3″ legroom in the second row. A flat floor design creates more head and shoulder space than the previous model.

Hyundai included its next-gen dual 12.3″ infotainment system with a faster, more intelligent user face. It also comes with Android Auto and Apple CarPlay as standard.

The 2024 Kona EV features a slightly bigger battery with faster charging and up to 261 miles range. Starting under $33,000, the 2024 Kona Electric is already one of the most affordable EVs in the US.

Hyundai-Kona-electric-cheaper
2024 Hyundai Kona electric (Source: Hyundai)

2024 Kona EV prices

It’s available in three trims: SE, SEL, and Limited. The base SE model includes a 48.6 kWh battery for up to 200 miles range. The SEL and Limited feature a 64.8 kWh battery, good for up to 261 miles range.


2024 Hyundai Kona electric trim
Starting Price
(not including a $1,335 delivery fee)
SE $32,675
SEL $36,675
Limited $41,045
2024 Hyundai Kona electric starting price by trim

With an up to $7,500 featured cash offer, you can lease the 2024 Hyundai Kona Electric SE for as low as $169 per month.

The deal is for 24 months, with $1,999 due at signing. It also includes the $7,500 EV Lease Bonus for a net capitalized cost of $25,370.

If you’re looking for the higher-range SEL trim, it can be leased for as little as $199 per month. That’s also for 24 months, with $1,579 due at signing. With the EV credit, the net capitalized cost is $29,419.

However, you may have to act fast. Hyundai’s website shows the deal ends in five days on April 30, 2024.

Are you ready to drive off in your new Hyundai Kona Electric at some of the lowest prices yet? We can help you get started. You can use our link to find deals on the 2024 Hyundai Kona Electric near you today.

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Podcast: Tesla earnings, Model 3 Performance, Mercedes-Benz electric G-Class, and more

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Podcast: Tesla earnings, Model 3 Performance, Mercedes-Benz electric G-Class, and more

On the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss all the news coming out of Tesla’s earnings, Model 3 Performance, Mercedes-Benz electric G-Class, and more.

Sponsored by SplitVolt: The Splitvolt Splitter Switch automatically shares power from your existing 240V dryer socket with your Level 2 EV charger. Learn more here.

The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:

We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.

Here are a few of the articles that we will discuss during the podcast:

Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET):

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Rivian starts shipping NACS adapters for Tesla’s Supercharger network

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Rivian starts shipping NACS adapters for Tesla's Supercharger network

Rivian has promised free NACS adapters will be sent out to its owners, and it’s starting that process now.

Rivian officially got access to Tesla’s Supercharger network last month, but in order to use it, non-Tesla cars need an adapter. Most other EVs come with a CCS plug, but Tesla’s plug is now called NACS, after it opened its charge standard in 2022.

Third party adapters have been available, but several of the automakers that have announced they’re switching to NACS have committed to sending out adapters to owners as soon as they’re available. We saw the Rivian adapter design leaked in February.

So far, Ford and Rivian have Supercharger access, with GM, Polestar and Volvo coming this spring, and others coming later. Tesla previously announced that GM would get access in February, so we imagine that is coming imminently (we heard reports on social media today that GM adapters are now available, but GM communications told us that those reports are not accurate, and that they will be available “later this year”).

In February, Ford did start sending out adapters, becoming the first automaker to do so. This is fitting, given that Ford was the first domino that led to basically the entire industry adopting NACS.

However, delivery of Ford adapters has been a little slow, with delivery estimates being pushed back by Ford.

Now, Rivian is becoming the second automaker to send out adapters.

Rivian owners have started to receive emails from the automaker asking for their shipping address, according to a thread on rivianforums.com. The original poster has a low VIN number, as do some other forum users who got the email, so we imagine they might be high on the list, with other owners with higher VINs getting their emails soon.

The email states:

Hi there,

Good news! Your complimentary NACS DC adapter is ready to be shipped. Please follow the link below to let us know your preferred delivery address within 60 days of receiving this email.

Please Note: Unfortunately, we cannot support shipping to PO Boxes or any addresses that are outside the United States or Canada at this time.

So – if you’re a Rivian owner, keep your eyes on your email, because it sounds like adapter shipping is imminent (and make sure you’ve responded to the April 4 email to opt-in to receiving the adapter).

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