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A former Tesla executive has pled guilty to charges of insider trading in Australia after he bought stock in a lithium mine before a deal with the automaker was announced.

Despite only recently starting the production of its own cells, the automaker has been involved in securing the supply of lithium, nickel, cobalt, and other minerals for its battery cell suppliers for a while.

More recently, Tesla started to not only deal with established mining companies, but it also started to sign contracts for off-take agreements with junior mining companies looking to build new mining projects that would increase the supply of some critical resources for batteries.

This strategy helps those companies raise money to build their mining projects.

In 2020, Tesla signed such an agreement with Piedmont Lithium, a company developing a lithium project in North Carolina.

The automaker agreed to buy about one-third of Piedmont’s planned 160,000 tonnes annual spodumene lithium production for at least five years.

While the mine is located in North Carolina, Piedmont Lithium is an Australian company, and Kurt Schlosser, Tesla’s head for Australia and New Zealand, was told about the deal ahead of time.

Australian Securities and Investments Commission (ASIC), the Australia equivalent of the SEC, announced today that Schlosser has pleaded guilty to two counts of insider trading:

“On 16 September 2020, Mr Schlosser acquired 86,478 shares in the mining company Piedmont Lithium Limited after being informed, in his role as country director of Tesla Australia, of inside information regarding an in-principle agreement that Tesla Australia’s ultimate holding company, Tesla Inc, had reached with Piedmont for the supply of lithium.”

After the agreement between Tesla and Piedmont was revealed, the share of the latter rose from $0.12 up to a high of $0.60 at one point.

According to ASIC, Schlosser pocketed $28,883.53 in profit from selling his shares after the news broke. He also shared the information with a friend – hence the second count of insider trading.

It is not known when Schlosser left Tesla and if it was related to the case of insider trading.

The former executive will be back in court on December 16 for sentencing.

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isinwheel has an electric ride for everyone – check out these 6 standouts

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isinwheel has an electric ride for everyone – check out these 6 standouts

isinwheel’s terrific personal EVs “bring all the things you want closer to you.” Whether it’s an electric scooter, an e-bike, or an e-skateboard, the three things you’re guaranteed to get no matter which you choose are fun, safety, and affordability.

We’re taking a closer look below at six of isinwheel’s personal EVs – could one of these be your next electric ride?

Table of contents

isinwheel S9Pro commuting electric scooter

Meet the isinwheel S9Pro, the best value-for-money electric scooter that zips you through your day at speeds up to 19 mph with a range of 19 miles – perfect for your daily commute.

The S9Pro‘s powerful 350W motor delivers a smooth, efficient ride without breaking the bank. With a lightweight, foldable aluminum frame, it’s easy to carry, store, and even pop into your car trunk or onto public transport. Plus, the quick one-step folding mechanism makes it the ultimate on-the-go companion.

You can find the S9Pro on Amazon here.

isinwheel S10Max long-range electric scooter

The isinwheel S10Max is your ultimate high-performance ride, powered by a beastly 1000W motor that conquers any terrain with ease. With an impressive range of up to 37 miles, you can enjoy long-distance adventures without worrying about recharging.

The S10Max‘s all-terrain 10-inch off-road tires, paired with dual shock absorption, provide unbeatable grip and stability whether you’re cruising through city streets, on country paths, or on muddy trails.

You can find the S10Max on Amazon here.

isinwheel GT2 off-road electric scooter

isinwheel

Unleash your adventurous side with the isinwheel GT2. With a powerful 1000W motor, it rockets up to 28 mph, effortlessly conquering steep hills and challenging landscapes for a thrilling ride every time.

Its 11-inch off-road tires are built for all terrains, whether you’re cruising through the city or tackling rugged countryside paths. Plus, with four advanced shock absorbers, every ride is smooth and stable, no matter where your journey takes you. Get ready to ride the GT2 and experience performance like never before!

You can find the GT2 on Amazon here.

isinwheel M10 electric commuter bike

isinwheel

The isinwheel M10 electric commuter bike blends style with power. Crafted from lightweight, rust-resistant aluminum alloy, this sleek ride weighs just 47 pounds, making it easy to carry and tough enough to last.

With a professional 35-speed transmission, the M10 adapts to your every need, whether you’re accelerating, cruising downhill, or conquering steep inclines. With a 500W motor capacity, a top speed of 20 mph, 374 Wh battery capacity, and four hours of charging time, it’s the perfect blend of performance and convenience for your daily commute!

You can find the M10 on Amazon here.

isinwheel U1 folding electric bike

isinwheel

Say hello to the versatile isinwheel U1! With folding handlebars, pedals, and a height-adjustable seat, it’s perfect for easy storage and transport. The U1’s 500W motor comes with a smart chip that instantly adapts to give you that extra boost when you hit an incline, face a headwind, or carry more weight.

The U1 has a top speed of 18 mph, 280 Wh of battery capacity, and three hours of charging time. Whether you’re zipping through city streets or tackling hills, the U1 has you covered with power and portability.

You can find the U1 on Amazon here.

Check out isinwheel’s V8, V6 and V10 electric skateboards

The isinwheel V8 electric skateboard is your ticket to thrilling rides, featuring a top speed of 28 mph and a range of up to 12 miles. Its removable, detachable batteries allow for quick swaps, so you can extend your adventure with ease. Choose from four riding modes and let the gorgeous ambient lights make you stand out, whether you’re cruising in daylight or lighting up the night. With its powerful dual 540W motors and regenerative braking system, the V8 delivers a ride that’s as exhilarating as it is stylish.

The V8 is isinwheel’s first-gen electric skateboard, and we’ve also taken it to the next level. The V6 is perfect for teens and beginners, and the high-performance V10 is for those who crave more power. But we’re not stopping there – this September, we’re launching the V6 PRO, the ultimate cool ride for young skaters and newbies. Stay tuned; it’s going to be epic!

You can find the V8/V6/V10 on Amazon here.

Follow isinwheel on Instagram here, on X here, on YouTube here, and on Facebook here.

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Score a sporty new Fiat 500e at more than 30% off MSRP

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Score a sporty new Fiat 500e at more than 30% off MSRP

It’s no Ferrari, but owning a sporty little Fiat 500e is about as close to putting a cavallino rampante in the garage as most of us will ever get. And if we act soon, we could do just that for 30% less money than before.

Fiat parent company Stellantis is giving dealers the ability to offer buyers up to $3,000 in coupons and incentives to help move its slow-selling 2024 FIAT 500e coupes. When paired with a $7,500 factory lease credit through Stellantis Financial, those coupons lead CarsDirect analysts to call the 500e one of the most affordable new EVs on the market.

The math maths

2024 FIAT (500e) RED in Miami; via Stellantis.

Between coupons and Stellantis Financial cash, that’s $10,500 in potential discounts before negotiations even begin. With a base MSRP of $34,095 with destination for a 2024 500e, that’s a JC Penney-style 31% off, with an additional 2% (presumably) within easy reach.

According to CarsDirect, the biggest downside of the coupon program is that it’s still unadvertised, which means there’s no way of telling how much of the allowable discount dealers are actually including in prices. But (as GI Joe taught us) knowing is half the battle, so click here to find deals on a new Fiat 500e near you, and make “are you applying those $3,000 in Stellantis coupons” one of your first questions.

Electrek’s Take

2024 FIAT (500e) RED interior; via Stellantis.

Small cars have never sold well in America. Not even great ones like the OG Honda CRX or Suzuki Swift GTi. Americans tend to buy for low use case scenarios, which is a fancy way of saying that, if an American thinks they’ll need a pickup 2-3 days/year, they’ll convince themselves to drive a pickup for the other 362 days. The British want more taxes than Americans wanted to pay in 1775, and today we have more gun shops than McDonald’s … just in case.

The little Fiat, in other words, was never going to be a volume player in the US. And that’s too bad, because the little 117 hp microcar is, by all accounts, fun to drive, zippy, and unquestionably cool. The media at large, though, has complained about the 37 kWh battery and 149 miles of EPA range – calling both “inadequate,” despite the fact that the first-generation Nissan LEAF had objectively inferior specs and sold 200,000 examples before getting its first significant upgrade in 2016. And, frankly, that Nissan had about as much style as a hospital gown.

So, while it may not offer what most car buyers think they need – as a second car, or a fun, urban runabout for lighthearted singles, the little Fiat is tough to beat (especially in red).

Click here to see what it will cost to put one in your garage.

SOURCE | IMAGES: Stellantis, via CarsDirect.

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Mahle CEO Arnd Franz says hydrogen will fail without fossil fuels

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Mahle CEO Arnd Franz says hydrogen will fail without fossil fuels

Echoing the words of hydrogen critics everywhere, Mahle Chairman Arnd Franz says that building out a hydrogen infrastructure won’t be possible without “blue” H made from fossil fuels.

If you’re not familiar with Mahle, they’re a legendary engineering firm perhaps best known (in my circles, at least) for their high-performance piston designs. But they’re big time, and their expertise extends far beyond the reciprocating machinations of the VR38DETT.

With that in mind, I don’t want to misrepresent the words of the esteemed Mr. Franz, who claims to be bullish on H’s prospects as a fuel. What I intend to do here, then, is shine a light on the space between Franz’ lines, read whatever’s in there, and then ask if you see what I see.

“We can’t achieve any CO2 emission reductions if you use natural gas or any other fossil sources to produce hydrogen,” Franz is quoted saying. “Today, the overwhelming portion of hydrogen production worldwide is around 90 million tons. That number is going to go up to 130 million tons until 2030. Currently, we have a flourishing and growing portion of that being more sustainable. By more sustainable, I mean blue and, eventually, green hydrogen. In our opinion, [blue hydrogen production is needed] to get the infrastructure going in order to get the ecosystem.”

I read that as saying that, today, there are no carbon emissions reduction benefits from using hydrogen as a fuel, because the overwhelming majority of those 90 million tons is being produced by natural gas and fossil fuels.

What’s more, everyone involved seems to trying to justify that with claims that fossil-generated hydrogen is some kind of “necessary evil” (my words) to build out a viable H ecosystem. See if you hear it, too.

“We will fail [with hydrogen technology] if we don’t use blue hydrogen,” Franz clarified. “Right now, hydrogen is produced from fossil sources with carbon capture, meaning we don’t let the carbon reach the atmosphere. Eventually, we need to get to wind and solar as the sources of energy to make hydrogen, and we believe the US has a really impressive program [thanks to] subsidies from the Inflation Reduction Act.”

And, if you believe in those good intentions – well, read a little about Chevron’s history of using patent law to block the development of nickel-hydride EV batteries in the 90s and early aughts and see if that changes your mind.

Nothing we don’t already know

MAN Trucks says hydrogen will never work, bets the farm on batteries

Earlier this year, MAN trucks’ CEO Alexander Vlaskamp told reporters that it was, “impossible for hydrogen to effectively compete with battery electric trucks.”

He was right then, and he’s still right now. “It’s one thing to have the technology and another thing for the technology to be viable,” Vlaskamp told the magazine Expansión (translated from Spanish). “Green hydrogen is not available for transportation and there is no point in switching from diesel to hydrogen if the energy source is not sustainable.”

Even so, MAN continues to develop hydrogen technology with surprising openness. And, by “openness,” I mean: he comes right out and says he’s only developing hydrogen tech to absorb subsidy money.

That’s my take, anyway. Let us know what you think of my “reading between the lines” of Mahle’s statement in the comments.

SOURCE | IMAGES: Mahle, via CCJ.

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