[M5Rick]

More bad news piling against EV's in that Norway, the born child of the EV idea is having second thoughts as the doubts surmount.
https://www.vox.com/future-perfect/2...nsit%20options.

[MassWholeBimmer]

Not sure about depreciation on ev's, or if this is just with the Audi e-tron... No interest in getting one, was just killing time surfing the web..

But a local Audi dealer had a 2022 e-tron premium plus. Had around 11 K miles, and dealer was asking $38500. I'm guessing that car msrp'd for in the $80,000 range ?. To loose that much in two model years. I'm assuming Tesla's have less depreciation ?..Yikes..

[Z4Kevo]

It is not depreciation that gets you...it is the battery itself and cost of replacement that does you in.

[Car-Addicted]

Originally Posted by Z4Kevo

It is not depreciation that gets you...it is the battery itself and cost of replacement that does you in.

Not a problem for the first owner but pity the poor bastard that buys one on the used market (sans warranty) and finds out it's range is 250miles. I see a lot of law suits in the EV used market.

[Car-Addicted]

Orsted cancels two New Jersey offshore wind projects, takes $4 billion writedown
“We are extremely disappointed to announce that we are ceasing the development of Ocean Wind 1 and 2,” Nipper said in a written statement published alongside the announcement.
Orsted had previously indicated to investors that it was going to face financial impairments. On August 29, Orsted announced it was anticipating a write down of up to $2.3 billion in its U.S. portfolio, but things got worse, not better. “Since the announcement, the US offshore wind projects have experienced further negative developments,” Orsted said.
https://www.cnbc.com/2023/11/01/orst...writedown.html

A Billion here and a Billion there and pretty soon your talking real money.

Plan on the current financial conditions world wide to effect a lot of projects that don't have a secure cash stream. Battery plants, battery recycling all require investment capital.

[Car-Addicted]

More facts CNBC forgot to mention.
Ørsted cancels N.J. project in major blow to offshore wind
The announcement came on the eve of a quarterly earnings call where the Danish wind developer is expected to announce steep losses.

The decision to cancel Ocean Wind, a two-phased development that would have provided power to around 1 million people, is a blow to New Jersey and President Joe Biden’s climate ambitions. While other developers along the East Coast have terminated power contracts in recent months, Ørsted is the first to cancel a project entirely.

Developers in Massachusetts and Connecticut have canceled power contracts for their projects, but signaled they planned to seek new deals. Four projects in New York have faced questions about their future after the New York Public Service Commission rejected their request to amend existing power contracts to account for inflation.

The Inflation Reduction Act provides tax credits based on a sliding scale. Renewable developers can receive a 30 percent tax credit if they agree to use union labor. They can qualify for a 10 percent tax credit if they use domestic content and another 10 percent if they build in so-called energy communities with a large presence of fossil-fuel-related businesses. Ørsted officials have said they likely need a 40 percent tax credit to move forward with their projects.

https://www.eenews.net/articles/orst...offshore-wind/

[M5Rick]

Originally Posted by Car-Addicted

More facts CNBC forgot to mention.
Ørsted cancels N.J. project in major blow to offshore wind
The announcement came on the eve of a quarterly earnings call where the Danish wind developer is expected to announce steep losses.

The decision to cancel Ocean Wind, a two-phased development that would have provided power to around 1 million people, is a blow to New Jersey and President Joe Biden’s climate ambitions. While other developers along the East Coast have terminated power contracts in recent months, Ørsted is the first to cancel a project entirely.

Developers in Massachusetts and Connecticut have canceled power contracts for their projects, but signaled they planned to seek new deals. Four projects in New York have faced questions about their future after the New York Public Service Commission rejected their request to amend existing power contracts to account for inflation.

The Inflation Reduction Act provides tax credits based on a sliding scale. Renewable developers can receive a 30 percent tax credit if they agree to use union labor. They can qualify for a 10 percent tax credit if they use domestic content and another 10 percent if they build in so-called energy communities with a large presence of fossil-fuel-related businesses. Ørsted officials have said they likely need a 40 percent tax credit to move forward with their projects.

https://www.eenews.net/articles/orst...offshore-wind/

The first one of some to follow probably.

[Car-Addicted]

If Ørsted is successful in getting their additional 40% then my bet is all will be forgiven and the bird cuisinarts will be back on schedule.

[M5Rick]

Originally Posted by Car-Addicted

If Ørsted is successful in getting their additional 40% then my bet is all will be forgiven and the bird cuisinarts will be back on schedule.

All out of the public purse of course.

[mirob]

No dog in the fight, just thought this was interesting.

[Car-Addicted]

Originally Posted by M5Rick

All out of the public purse of course.

Privatizing profits while socializing losses

[Car-Addicted]

Originally Posted by mirob

No dog in the fight, just thought this was interesting.

If you pay taxes you have a very big dog in this fight.

[Prince Thundernight]

Well this is funny

https://www.theverge.com/2023/11/1/2...sound-solution

[gonzo]

^
Can't blame Borla, but oh dear lord, no.

We're in that "This is fine" meme.

[Car-Addicted]

Originally Posted by PRINCE THUNDERNIGHT

Well this is funny

When we were kids this was cool. Now fake ICE sound for your EV is just sad.

[gblansten]

Originally Posted by Car-Addicted

When we were kids this was cool. Now fake ICE sound for your EV is just sad.

I had fake ICE sound in my 2020 M5.

[RM7]

Originally Posted by gblansten

I had fake ICE sound in my 2020 M5.

Pretty much ALL ICE cars use fake sound now.

[M5Rick]

Originally Posted by PRINCE THUNDERNIGHT

Well this is funny

https://www.theverge.com/2023/11/1/2...sound-solution

Borla also make real exhausts.

[BGM-M3COMP]

Originally Posted by RM7

Pretty much ALL ICE cars use fake sound now.

Even my c8z has pumped in sound lol.

All bmws have it too. Because artificial sound is cool!!!! Lmaoooo

[KRS_SN]

.

[Car-Addicted]

Never underestimate the power of government to get it's way.

IRS Opens Portal For Car Dealers To Dole Out EV Tax Credits At Point-Of-Sale
The move marks the latest step in making the federal electric vehicle tax credit immediate. Come January, eligible electric vehicle buyers will be able to receive the federal tax credit upfront at the dealership, provided the dealership is registered with Energy Credits Online.
One of the challenges of electric vehicle adoption is affordability, as these cars, on average, cost more than their gas-powered counterparts. The average electric car costs $53,469, compared to $48,334 for gas powered autos, according to July data from Cox Automotive, parent of Kelley Blue Book.
https://www.msn.com/en-us/money/taxe...le/ar-AA1jeeOQ

2024 EV tax credit flexibility
Beginning Jan. 1, 2024, taxpayers may have the option to transfer the credit to the dealer at the point of sale. This means that eligible dealerships would be able to either lower the cost of the vehicle by the corresponding credit amount or provide the consumer with a cash equivalent.
Which cars qualify for a federal EV tax credit?
BMW X5 xDrive50e (2024) $3,750. $80,000.
https://www.nerdwallet.com/article/t...cle-tax-credit

[BGM-M3COMP]

Woohoo!!!