2021 Tesla Model 3 Standard Range Plus 4dr Sedan on 2040-cars

Auto blog

Tesla stock drops on fear that comes with low gas prices [w/video]

Tesla's stock price was down to around $206 earlier today, but it's back up to over $216 now. Friday, it closed at over $223. Some stock blogs are saying the price could go as low as $165 in the not-too-distant future. What's behind these wild swings that CNBC's Phil LeBeau calls, "the worst seven-day trading period ever for shares of Tesla"? One potential culprit is today's low gas prices. Those prices – currently hovering at around $2.65 a gallon in the US, the lowest in about four years – are affecting the cars people buy (sorry, hybrids), so it's not a huge leap to think they'll affect high-end electric cars, as well. A $50 drop in share price is pretty dramatic, and Bloomberg and others point the finger at gas prices. Ben Kallo, an analyst with Robert W. Baird & Co., wrote that, "We believe the recent decline in TSLA shares is largely driven by the concern low gasoline prices could impact demand if sustained for the long term." But there are other ideas, too. Since we don't always comprehend analyst-ese, we're not sure if Zev Spiro at Orips Research thinks gas prices are to blame, but it doesn't sound like it: A negative signal developed yesterday as a high volume break occurred below the slightly upward slanted neckline of the topping pattern, in the $219.20 area. The break below the neckline signaled a trigger of the bearish pattern and indicated a downtrend with a minimum expected price objective in the $165 area. In addition, yesterday's bearish trigger may result in downward momentum in the near term. Indicators are generally negative, adding to the overall bearish tone. Kallo remains positive, though, saying that, "We believe demand for TSLA's vehicles will remain strong." This makes sense to us, since TSLA has weathered drops before, only to climb to record highs afterwards. Watch a CNBC video report on all of this below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

How Norway became a world leader in EV sales, and where it goes from here

OSLO, Norway — A silent revolution has transformed driving in Norway. Eerily quiet vehicles are ubiquitous on the fjord-side roads and mountain passes of this wealthy European nation of 5.3 million. Some 30 percent of all new cars sport plug-in cables rather than gasoline tanks, compared with 2 percent across Europe overall and 1-2 percent in the U.S. As countries around the world — including China, the world's biggest auto market — try to encourage more people to buy electric cars to fight climate change, Norway's success has one key driver: the government. It offered big subsidies and perks that it is now due to phase out, but only so long as electric cars remain attractive to buy compared with traditional ones. "It should always be cheaper to have a zero emissions car than a regular car," says Climate and Environment Minister Ola Elvestuen, who helped push through a commitment to have only zero-emissions cars sold in Norway by 2025. The plan supports Norway's CO2 reduction targets under the 2015 Paris climate accord. To help sales, the Norwegian government waived hefty vehicle import duties and registration and sales taxes for buyers of electric cars. Owners don't have to pay road tolls, and get free use of ferries and bus lanes in congested city centers. These perks are being phased out in 2021, though any road tolls and fees would be limited to half of what gasoline car owners must pay. Gradually, subsidies for electric cars will be replaced by higher taxes on traditional cars. Registration tax on new cars is paid on a sliding scale with a premium for the amount of emissions produced. Elvestuen pledges that the incentives for electric vehicles will be adjusted in such a way that it does not scupper the 2025 target. "What is important is that our aim is not just to give incentives," he says. "It is that we are taxing emissions from regular cars." Using taxes to encourage consumers to shift to cleaner energy can be tricky for a government — protests have erupted in France over a fuel tax that hurt the livelihood of poorer families, especially in rural areas where driving is often the only means of transportation. In the U.S, some would like to see the tax credit on EVs and hybrids eliminated while others would extend it. In this sense, Norway is an outlier. The country is very wealthy after exporting for decades the kind of fossil fuels the world is trying to wean itself off of. Incomes are higher than the rest of Europe, as are prices.

MindDrive cruises California with 1972 Karmann Ghia EV

If you need a bit of inspirational EV goodness, spend some time watching the collection of videos we've got for you from Minddrive. Minddrive, as you might remember, is the education mentorship program that "uses real-world issues of our times to teach urban students critical thinking, creativity, entrepreneurship and how to improve their future by expanding their vision for themselves." The focus was on a fully restored 1972 Volkswagen Karmann Ghia. Well, restored and converted to electric power. The students previously worked on the Lola EV but this year the focus was on a fully restored 1972 Volkswagen Karmann Ghia. Well, restored and then converted to electric power. In early June, almost 50 Minddrive students and mentors flew from Kansas City to California to visit the epicenter of electric vehicles in the US on something called the "Raise Your Hand Tour." Filmmakers Mark Honer and Kelly Creech from DHTV Digital were along for the ride. The videos below show the students flying from to Oakland, crossing the Golden Gate Bridge, presenting the Karmann Ghia at the California Academy of Sciences and then visiting the Monterey Bay EV Club, Google, Twitter and Telsa. All of this EV engagement apparently worked. One of the students, identified only as Xavier, wrote a poem and essay about what the electric vehicle project meant to him. Here's a tease: "Minddrive has honestly opened my eyes to sights and things I would have never thought possible. I have finally found the right path to follow." Read the whole thing below, after the videos. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. I used to think that I would never be able to achieve to a greater rank. Always thought that power was given to people with a big bank. Never could imagine that my life would be amazing. Felt that my whole existence was around the weed blazing.