Australian Miners Line Up For A Slice Of The EV Pie
Mining in Australia is big business, very big business. The royalties fund much of the government spending at the state and federal level. Providing over 10% of Australia’s GDP, or $200 billion AUS, Australia’s mining companies demand to be listened to. So, when BHP sells its coal and oil assets and starts talking up electric vehicles and the minerals it needs to mine, people listen.
Just two days ago, BHP Nickel West asset president Eddy Haegel announced at the annual Diggers and Dealers conference that BHP expected EVs to achieve global penetration of 25% by 2030. This is much earlier than many industry watchers in the conservative camp anticipated. Most of us in the EV community might say that’s still too conservative.
BHP hit the international news recently when it inked a deal with Tesla to supply nickel. Not just to supply it, but to produce it in an environmentally friendly way. Although BHP believes its Nickel West operations were among the “most sustainable and lowest carbon emission” producers of nickel around the world, Tesla thought there was room for improvement. BHP will now build two new solar farms and a battery energy storage system to help power its operations in Western Australia’s Goldfields region, and cut its dependence on diesel and gas.
The deal is estimated to be worth more than a billion dollars. So BHP is pivoting to nickel (after previously planning to sell off these assets as not part of its core business). BHP is already a leader in the mining of copper.
Meanwhile Australia’s export of lithium from its hard rock mines is growing rapidly. At the moment, it is worth about $1 billion p.a. and projected to reach $6 billion by 2026. Please note this is a vastly different from the environmentally damaging processes used in Chile.
The Australian federal government is encouraging investment in the lithium industry and funding a national lithium research centre to operate out of Curtin University in Perth. This $135 million investment in the future aims to make Western Australia a hub for research in lithium battery manufacturing.
Tesla just released the Model 3 Performance on Tuesday, and already Tesla has hiked the price by $1,000.
The Model 3 Performance came out the morning of Tesla’s quarterly earnings report earlier this week, with lots of updates.
Tesla updated the car’s bodywork, seats, steering, brakes, damping, track mode software, and of course the rear drive unit, giving the car 510hp and a 0-60 time of 2.9 seconds.
And, given the fact that it qualifies for the US Federal EV Tax credit, it’s actually cheaper than the lower-spec Long Range Model 3 (which starts at $47,740) after taking the credit into account.
The Model 3 Performance has also garnered rave reviews both from online observers who note its impressive specs and value proposition compared to competing vehicles, and from the few car reviewers who Tesla deigned to allow to review the vehicle ahead of its release.
Perhaps due to the confluence of these factors, Tesla has now decided that its raved-about vehicle might be worth more than it originally decided to sell it for, and has thus raised the price by $1,000.
Now, the Model 3 Performance starts at $53,990, rather than $52,990.
This still makes the performance model ~$1k cheaper to purchase than the Long Range version, assuming you qualify for the tax credit. However, since the tax credit is attainable even on non-qualifying cars via a lease, the lease rates for the RWD ($299/mo) and Long Range AWD ($439/mo) are still significantly cheaper than the Performance AWD model ($566/mo).
Perhaps to balance this price increase, Tesla also reduced the price of some paint and interior options. Now, the solid black exterior paint color is $1,000, down from $1,500, and the black and white interior now costs $1k, rather than $1,500. Other paint options remain the same price as before.
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Environment
Hyundai’s new Kona Electric is even cheaper to lease than the gas-powered model at $169/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.
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 |
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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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.
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