All-electric Rolls-Royce Spectre production likely to crank up, CEO credits stronger-than-expected demand
According to Rolls-Royce’s CEO, orders for its upcoming all-electric Spectre are so plentiful that the legacy luxury automaker may need adjust its production output to meet the growing demand. Furthermore, the company chief believes the first fully-electric Rolls-Royce will fit nicely into the current lineup and start generating profits from the very start of production.
Rolls-Royce Motor Cars is a luxury automaker with over a century of experience dating back to the early 1900s in England, but has been owned by BMW AG since 2003. Despite a successful history in combustion, company founder Charles Rolls predicted an all-electric future after a drive in an electric car all the way back in 1900:
The electric car is perfectly noiseless and clean. There is no smell or vibration. They should become very useful when fixed charging stations can be arranged.
It would take over a century for Rolls’ company to beginning making its founders prophecy a reality and another decade after that before we got to see Rolls-Royce’s first electric, production-intent model called the Spectre.
Spectre will be the first model to hit the market following Rolls-Royce’s vow to go all-electric by 2030. So far, we’ve watched it endure strenuous winter testing near the arctic circle before its official launch last October.
Now, mere months ahead of the electric model’s start of production, Rolls-Royce is already considering bolstering its assembly lines to keep up with customer demand.
Electric Rolls-Royce Spectre garners demand, nice margins
In a recent call with journalists to discuss the Spectre and the automaker’s overall business strategy, Rolls-Royce CEO Torsten Müller-Ötvös relayed higher than anticipated demand for the electric vehicle ahead of production overseas:
The order intake for the Spectre is far better at this moment than we would have expected. We have a couple of months to go, but if that trend continues then I’m pretty sure we need to adjust our plans.
When deliveries begin in Q4 of this year, the all-electric Spectre is expected to replace the long running Rolls-Royce Wraith as the lone two-door option, and will be positioned between the Cullinan SUV and Phantom sedan at an estimated MSRP around $400,000.
Müller-Ötvös went on to say that the all-electric Spectre should achieve equal profitability in comparison to rest of the Rolls-Royce lineup, adding that executives at parent company BMW are currently happy with the margins the CEO’s marque generates.
With an order book for the Spectre that, according to Müller-Ötvös, stretches “far” into 2023, the luxury automaker may bolster production in Goodwood, England to capitalize off of customers hungry for an all-electric Rolls-Royce, especially in the US – Rolls’ leading market which accounted for 35% of total sales in 2022.
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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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