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Monica Muñoz, top, and Denise Denning place black encapsulation material on solar panels at Elin Energys solar panel manufacturing facility on Thursday, April 25, 2024 in Brookshire. 

Brett Coomer | Hearst Newspapers | Getty Images

The Inflation Reduction Act has sparked a manufacturing boom across the U.S., mobilizing tens of billions of dollars of investment, particularly in rural communities in need of economic development.

The future of those investments could hinge on the outcome of the U.S. presidential election. The prospect of a Republican victory has shaken the confidence of some investors who worry the IRA could be weakened or in a worst-case scenario repealed.

Companies have announced $133 billion of investments in clean energy technology and electric vehicle manufacturing since President Joe Biden signed the IRA into law in August 2022, according to data from the Massachusetts Institute of Technology and the Rhodium Group.

Actual manufacturing investment has totaled $89 billion, an increase of 305% compared to the two years prior to the IRA, according to MIT and Rhodium. Overall, the IRA has leveraged half a trillion dollars of investment across the manufacturing, energy and retail sectors, according to the data.

“It is having a transformative effect within the manufacturing sector,” said Trevor Houser, a partner with the Rhodium Group. “The amount of new manufacturing activity that we’re seeing right now is unprecedented in recent history, and is in large part due to new clean energy manufacturing facilities.”

Some 271 manufacturing projects for clean energy tech and electric vehicles have been announced since the IRA passed, which will create more than 100,000 jobs if they are all completed, according to the advocacy group E2, a partner of the National Resources Defense Council. The investments sparked by the IRA have been a boon for rural communities in particular, Houser said.

“Unlike investment in AI and tech and finance, which is clustered in big cities, clean energy investment really is concentrated in rural communities, and is one of the brightest sources of new investment in those areas,” Houser said.

The IRA has also accelerated the deployment of renewable energy, with $108 billion in invested in utility-scale solar and battery storage projects. Investments in solar and battery storage have surged 56% and 130%, respectively, over the past two years, according to the Rhodium data.

“The more mature technologies, so like wind and solar generation, electric vehicles, those have achieved escape velocity,” Houser said. “They will continue to grow no matter what. It’s a question of speed.”

Trump threats to IRA

Clean energy stocks tumbled after President Joe Biden’s disastrous debate performance in late June, as investors worried that Trump and the Republicans are poised to sweep both the White House and Congress were growing more likely.

First Solar, the largest panel manufacturer in the U.S., saw growing constraints on access to capital in the second quarter for early stage solar companies as well as larger players that are trying to build out domestic manufacturing, CEO Mark Widmar told analysts on the company’s July 30 earnings call.

Investors are waiting to make decisions until they have a clearer view of what the policy environment will look like for the solar industry, Widmar said. Utilities and oil companies that were making investments in renewables are now considering a pivot to prioritize fossil fuel projects, he said.

The fear among some investors is that Republicans would will use the reconciliation process, through which bills can be passed with a simple majority, to roll back the IRA in order to finance making Trump’s 2017 tax cuts permanent.

Trump told Reuters Monday he would consider ending the $7,500 tax credits for electric vehicles. Consumers and business have spent $157 billion on zero-emission vehicles since 2022, double the amount before the IRA became law, according to Rhodium.

“Tax credits and tax incentives are not generally a very good thing,” the former president told Reuters in an interview when asked specifically about the EV credits after a campaign even in York, Pennsylvania.

Trump has not specifically called out the tax incentives that have supported the expansion of renewables. The former president’s campaign platform says Republicans will support energy production from all sources. The document backs oil, coal and natural gas as well as nuclear, but does not specifically mention solar or wind power.

Republican districts benefit most

Executives at renewable companies and analysts are betting the investment, production and manufacturing tax credits, which are driving much of the spending on clean energy and technology, would survive even a Republican administration.

A majority of IRA investment in new projects, 85%, has gone to GOP congressional districts, according to E2 data. And Trump’s campaign platform emphasizes expanding domestic manufacturing and bringing supply chains back to the U.S.

The dynamics of the presidential race have also changed since Biden ended his re-election bid, with Vice President Kamala Harris rising to a slight lead over Trump national polling averages as she formally accepts her party’s nomination at the Democratic National Convention in Chicago this week.

“We’ve seen an increase in the number of Republican lawmakers that are embracing the clean energy credits within the IRA as they see the positive impact to their states and communities, which is hard to turn away from,” John Ketchum, CEO of NextEra Energy, which operates the largest portfolio of renewable energy, told analysts on the company’s July 24 earnings call.

“And the tax laws are very difficult to overturn,” Ketchum said. “And we’re very likely to have thin margins in the House and the Senate, particularly in light of some of the recent developments,” he said, hinting at Harris’ rise as the new Democratic candidate.

Indeed, 18 Republican members of Congress warned House Speaker Mike Johnson earlier this month that repealing IRA energy tax credits would be bad for business.

“Prematurely repealing energy tax credits, particularly those which were used to justify investments that already broke ground, would undermine private investments and stop development that is already ongoing,” the Republican lawmakers wrote.

“A full repeal would create a worst-case scenario where we would have spent billions of taxpayer dollars and received next to nothing in return,” they wrote.

John Berger, CEO of rooftop solar installer Sunnova, told analysts on the company’s Aug. 1 earnings call the Trump trade that drove clean energy stocks lower might not have much more room to run.

“Clearly, this is a dead heat now,” Berger said of the presidential race. “I think that the old Trump trade and so forth, I would be very cautious on that.”

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Buzz tries to undercut Lectric with even lower-priced electric trike

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Buzz tries to undercut Lectric with even lower-priced electric trike

Buzz Bicycles has just launched its newest electric tricycle model, pushing prices even lower as older riders continue to gravitate towards electric three-wheelers as accessible e-bikes for both recreation and transportation. Now with the Buzz Cerana T2 hitting the road, the lower end of the market is heating up even faster. And Buzz may now have one of the best-priced mid-drive e-trikes in town.

There’s no shying away from the massive competition in the electric trike space. After Lectric eBikes launched the second generation of the US’ best-selling electric trike model last week, everyone now has a new target to beat. Priced at $1,499, the Lectric XP Trike2 sets a new standard for any retailer that wants to compete on price.

In the weeks since, we’ve seen other e-bike companies roll out their own next-generation models in an attempt to keep up with the driving force in the growing three-wheeler market. But the Buzz Cerana T2 is the first “second-gen” model I’ve seen since the XP Trike2 launch that has actually managed to undercut Lectric’s price. With a $1,399 sticker, the Buzz trike is a solid $100 cheaper.

So what does one Benjamin less get you? Let’s dive in and find out.

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First of all, the Cerana T2 rolls on relatively large wheels, with a 24×3.0″ front tire and 20×3.0″ rear tires. The trike is also powered by a mid-drive motor mounted at the bottom bracket, offering 500W of power.

The product page claims a 20 mph top speed, though that’d be pretty fast for a trike and may be a copy/paste error from another product page, which I’m entertaining as a possibility because right next to it is a graphic touting the rear hub motor – which this trike clearly does not have.

What it does have though is torque, and a lot of it! The mid-drive motor is rated for 130 Nm of torque, which is pretty far up the chart and exceeds the torque output of the vast majority of e-bikes on the market today.

With a throttle on the handlebars, the Cerana T2 qualifies as a Class 2 electric bike, though the five different levels of pedal assist and the cadence sensor mean that riders can also still get a nice workout at varying levels of effort if they choose to ignore the enticing throttle.

Considering the battery is a 48V 10.4Ah unit with only 500 Wh of capacity, pedaling is going to be important if riders want to achieve the claimed 40 miles (64 km) of maximum range on a single charge. If using the throttle frequently, a range of closer to half of that figure is more likely.

And for those who like to keep an eye out for UL certifications, you’ll be happy to hear that Buzz reports full UL2849 certification for the bike.

Other features on the Cerana T2 include the fender set, LCD display, 7-speed shifter, mechanical disc brakes, LED lighting in the front and rear, and an included front rack with matching rear basket.

There’s also an oversized saddle that features a manual drop post. It’s a hand lever found under the saddle that can instantly drop the post down several inches – a great way to quickly lower the seat when coming to a stop to dismount. It’s always a great way to get people to raise an eyebrow the first time you fiddle around for it in a fairly… intimate location.

Electrek’s Take

On the one hand, it feels a bit unfair to compare the Buzz Cerana T2 to the Lectric XP Trike2 instead of discussing this new model in its own right. But on the other hand, it’s one of several second-gen trikes to recently hit the market in the wake of the Trike2’s groundshattering unveiling, so I’d be doing the journalistic version of closing my eyes, putting my hands over my ears and shouting “La la la la!” if I pretended the two unveilings weren’t at least somewhat related.

Of course everyone is looking to save a buck (or a hundred of them) where they can, and the Cerana T2 even offers some cool things the XP Trike2 doesn’t, such as that dropper seat post and the mid-drive motor – though I’m not sure if the cadence sensor is worth it, not to mention that the XP Trike2’s jackshaft motor is essentially a hub motor functioning as a mid-drive. And while the Cerana T2’s lack of suspension is disappointing, the 3″ tires will help earn back some of the cushion lost to a rigid fork and frame.

On the other hand, the Cerana T2 has a few downsides, such as the lower-end mechanical disc brakes and the lack of a folding frame.

But hey, if it can really do 20 mph on the straightaways, then that might be its biggest selling point right there – other than the $1,399 price. Just watch out for those turns…

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Rivian (RIVN) to open a UK office that will focus on AI and autonomous driving technology

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Rivian (RIVN) to open a UK office that will focus on AI and autonomous driving technology

American EV automaker Rivian is expanding across the pond into the UK, hoping to tap into the region’s talent pool in artificial intelligence engineering.

Rivian is a growing American EV brand with expanding office footprints as much as its lineup of unique electric trucks and SUVs. The company is currently headquartered in Palo Alto, California, with its main production facility located in Normal, Illinois alongside plans for a second production footprint about 40 minutes outside of Atlanta, Georgia.

Other US locations currently include offices in Irvine and Carson, CA, Wittmann, AZ, and Plymouth, MI. Outside of the US, Rivian operates out of offices in Vancouver, BC, Canada, Amsterdam, Netherlands, and Belgrade, Serbia.

This morning, Rivian announced its latest international office in London, UK, which will become an AI-centric development hub.

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Rivian UK
Rivian’s production facilities in Normal, IL / Source: Scooter Doll

Rivian to open AI Hub in the UK

According to a release from Rivian early this morning, it sees the UK as rapidly becoming a world leader in artificial intelligence engineering, and is looking to tap into that talent pool with the new international office.

While Rivian’s current Autonomy Platform enables drivers to utilize hands-free, eyes-on highway driving, the American automaker intends to continue to evolve such tech to offer greater levels of autonomous capabilities.

Rivian shared that its second-generation EVs were designed with an “AI-centric approach.” As its Gen2 vehicle fleet continues to develop and grow, the automaker has been collecting more and more data to help accelerate the improvements to ADAS technology. Per the company:

Rivian believes the combined strength of its perception platform and in-vehicle data infrastructure will enable it to build a Large Driving Model, unlocking unparalleled understanding of complex driving scenarios and accelerating the path to safer, more capable autonomous features.

Rivian said the future work done at its new UK AI hub will enable its EVs to improve in the future via over-the-air (OTA) updates. Details remain light, but Rivian shared plans to host an “AI and Autonomy Day” later this year and promised to share more about its product and technology roadmap.

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A golf cart pickup truck? GEM-maker launches diverse new LSV line

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A golf cart pickup truck? GEM-maker launches diverse new LSV line

Waev, the company best known for its iconic GEM electric low-speed vehicles (LSVs), just unveiled a brand new lineup of commercial electric carts and LSVs. And this time, they’re not messing around when it comes to utility. Dubbed the Fusion line, these new lithium-ion-powered vehicles include mashups plucked from the worlds of golf carts, street-legal shuttles, and jobsite pickup trucks.

The Fusion lineup includes six different models: three designed for people-moving and three built for utility work. But all six still seem to be aimed squarely at commercial, municipal, and industrial fleets.

Whether that’s running security at a stadium, shuttling guests at a resort, or hauling equipment around a worksite, there looks to be something in the Fusion family that probably fits the bill.

On the people-moving side, Waev is offering 4, 6, and 8-passenger models, all of which feature a flip-up rear seat that converts into a cargo deck, a near ubiquitous feature among modern golf carts and LSVs with rear-facing benches that helps them pull double duty as a light utility vehicle. The feature gives them added flexibility for things like maintenance staff, hospitality transport, or even large campus tours, letting them carry a large number of passengers, yet still be capable of stacking boxes or equipment in the rear.

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The utility versions look a bit different with more muted matte black bodywork, plus come with electrically-actuated hydraulic dump beds, 2-inch ball hitches, and even orange seat belts for jobsite visibility. It’s harder to forget to put on the seatbelt when it’s blindingly orange.

And yes, the Fusion Utility Long Bed basically looks like a pickup truck built on a golf cart chassis, which I find equal parts strange and endearing. But then again, I’m the guy who infamously kicked off the great American mini-truck trend a few years ago when my hilarious little tiny-truck went viral, so maybe I’m a bit biased when it comes to fun little utility vehicles.

All Fusion models are available in both “cart” and “LSV” configurations. The carts are speed-limited to 19 mph (30.5 km/h) and come with serial numbers, making them street-legal only in limited areas that have passed local ordinances permitting golf carts to use public roads.

The LSV versions get full VINs, meet federal low-speed vehicle safety standards (meaning over a dozen regulations on manufacturing standards and safety equipment), and can be driven up to 25 mph (40 km/h) on public roads where LSVs are permitted by state law.

Waev is sticking with lithium-ion power here, specifically a 105Ah Marxon pack that’s both heated and insulated for cold-weather use. That’s a big step up from the old-school lead-acid setups still found in some fleet carts (and, if we’re being honest, still offered on some of Waev’s other vehicles).

The company claims to offer automotive-grade manufacturing processes and reliability on its vehicles, along with Bluetooth diagnostics and a smartphone app for managing the fleet.

Other upgrades include LED lighting, back-up cameras, AVAS pedestrian alert systems, and standard three-point seat belts for all passengers. Optional extras like ladder racks, beacon lights, and upgraded tires make it even easier to tailor each unit to the specific job at hand.

The Fusion line slots into Waev’s already broad family of low-speed EVs and fleet vehicles, including the steel-bodied Taylor-Dunn utility vehicles, Tiger heavy-duty tow tractors for airports and warehouses, and the classic GEM lineup that’s been a staple of street-legal fleet transport since the late ‘90s.

It also looks like Waev isn’t just trying to sell the hardware here – it’s pushing hard on full-service fleet support, too. The company is leaning on an extensive dealer network across the U.S., Mexico, Canada, and Australia, and all Fusion models are available through Sourcewell and Canoe procurement programs for simplified public-sector purchasing.

One big thing we’re not seeing, though, are the prices. It’s more of a “contact us for a quote” situation, which means exactly what you think it means. We’ll try to learn more, but don’t expect to make it out of the lot without a measurably lighter wallet.

Electrek’s Take:

This is the kind of product line that probably won’t turn heads in your local grocery store parking lot, but it’s exactly the kind of quiet EV revolution that’s transforming fleets behind the scenes. Lithium-ion golf carts and LSVs that can tow, haul, and shuttle without the noise or emissions of gas engines? That’s a win for everyone –from municipal fleets to private campuses.

And frankly, I’m here for the golf cart pickup truck vibe. Street legal, work-ready, and just weird enough to be cool. The fact that the tailgate seems to swing all the way down and doesn’t lie flat like a normal pickup truck’s gate was a swing-and-a-miss by the designers – I don’t know how that got through – but everything else looks great! And hey, I guess I could always add a pair of tailgate cables if I wanted.

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