⚡️Tesla slashes prices: How low can they go? 📉

Happy Monday. This is Electric Avenue - your weekly EV newsletter. The technical challenges of E-mobility can be bitter and dark like an Espresso shot. We´re the creamy, frothy milk foam that turns it into a delicious Cappuccino. Ciao ragazzi!

Here's what we have for you today:

• Tesla price drop 📉

• 1 Pic 🖼

• 2 Links 🔗

• Meme of the week 🤡

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Tesla price drop ⚡️

Elon still knows how to do it. The news of Tesla dropping its prices by up to 20% hit the EV industry like a bombshell this week. We took a look at last week's prices and this week's prices and compared them to the lowest-ever prices for Tesla´s most popular EVs in the US 🇺🇸 - Model 3 and Model Y.

The Standard Range (SR) and Long Range (LR) models received sizeable price cuts, bringing them closer to the levels seen two years ago. But the real excitement comes from the Performance variants, which have just hit their lowest prices ever!

And if that wasn't enough, there's even more good news for those in the US - the $7500 federal EV tax credit is available for Tesla again this year, making these already great deals even better. Keep in mind, however, that the Model Y Performance variant is not eligible for the credit due to its MSRP being above the $55k limit.

But the deals don't stop there - California residents can also take advantage of a $2000 state EV rebate for vehicles under $45k, making the Standard Range Model 3 eligible once again.

We've also seen similar price drops and charging discounts for Tesla`s vehicles and the Supercharger network in the EU 🇪🇺 and we expect other car manufacturers to follow suit. Keep an eye out for some exciting developments in the EV market in 2023!

Friendly reminder: We recently launched the Electric Avenue Glossary. This is a living post where we'll add new acronyms anytime we define or use them.

1 Pic 🖼

No more fat boys? EVgo is the 2nd largest operator of public fast chargers in the US. The company traces its origins back to 2012 when its former parent company NRG reached a settlement with the California government to invest $50M in public fast charging.

Over time, those legacy sites with 50kW chargers have earned a reputation for being about as reliable as a '91 Honda Civic with 200,000 miles. We're talking only one or two chargers per site, and a whole lot of outdated hardware such as these giant 50kW chargers by BTC Power - affectionally called BTC fatboy by EV veterans.

But now, EVgo is taking action with their EVgo Renew program. They're promising to analyze all their sites, take into account user demand, technical capacity, and proximity to other charging stations, and replace those outdated "BTC fatboys" with newer, more reliable hardware that can pump out up to 350kW. So, hopefully no more instances of being stranded at your local grocery store because of a faulty charger.

2 Links 🔗

• Hertz ❤️ EVs: Lately, people can`t stop talking about one thing in the the rental car game - EVs. Industry leader Hertz is reporting a ton of demand for their electric options and their CEO is claiming that maintenance costs are about 40-50% lower than its gasoline fleet. Hertz seems ready to go all-in on electric - they have ordered up to 340,000 EVs from Tesla, Polestar and General Motors.

• Data on charger utilization and profitability: EV roaming platforms Smartlab and Hubject made historical POI and CDR data for 22,000 charging stations in Germany available for research. This study analyzed the charging stations' utilization and profitability based on AC vs DC charging. The most notable result is that DC fast-charging stations service three times as many vehicles per charge point at higher profits because of better margins.

Meme of the Week

A Reader´s review

Selected ⚡️⚡️⚡️⚡️⚡️ Freakin´ awesome and wrote:

"I like the newsletter. Strong points - you really find some great insider info."

DISCLAIMER: None of this is financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions.

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