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Electric Car Leasing News - May Roundup

Select's Electric roundup covers all the latest news from the world of electric. This month, we take a look at the biggest stories from May. We look at how EVs might feature in a post-COVID economic recovery, the world's first solar charging car, Tesla's record breaking production and the new study that could steer more businesses and employees to an electric car.

European Union set to make EVs major part of COVID recovery

Electric cars are likely to form an integral part of a green recovery to the world’s economy in a post-COVID world. The US Government has announced major stimulus packages of upto $1tn to protect business and lessen the blow of an impending recession, and Democrats in the House and Senate are pushing for renewables and EVs to be included as part of the recovery.


While the US may be a harder sell, the European Union is set to press ahead with plans to boost EV sales, including support for manufacturers to produce electric cars and a potential VAT exemption, as part of a vital switch to alternative fuel and to encourage the takeup of electric cars across the continent.


The groundbreaking EV using solar power to charge

Germany’s Sono Motors added further anticipation to the release of its flagship ‘Sion’ model, with the announcement the car will be able to self-charge its battery using solar power. The news could eradicate range fears and provide further cost-effective incentives to drivers cautious about making the switch into electric. Sono state that the Sion will gain upto 34km of extra charge on a typical bright day, which could represent more than 5,000 extra miles every year off the suns rays.


Germany to lead line in EV production by 2021

Despite a headstart, forecasts from McKinsey & Company suggest that auto manufacturers from Germany, some of the largest and most reputable in the world, will surpass China and release Tesla’s grip on EV production by 2021.

As manufacturers such as Volkswagen and Mercedes gradually shift their focus to sustainable fuel, the market share for German automakers is likely to increase to a third of the world’s total EV production by 2024, with an anticipated production of 1.7 million EVS for Europe’s largest state. Experts are predicting Germany could have a dominating presence on the EV scene in less than a year as it slows production of petrol and diesel models.


Tesla to produce record-shattering 4,000 cars every week


Tesla continue to chart incredible production standards for their flagship Model 3 saloon. With almost 400,000 units set to be shifted of the Model 3, the vehicle continues to set an incredible pace for sales in the EV market. Tesla are accounting for the huge demand for this model by producing a staggering 4,000 cars every week at their Gigafactory in Shanghai, which means over 200,000 Model 3’s will be built in China alone – that’s over 50,000 more than the tech and car manufacturer was aiming for at the start of the year.

Employees could save £40,000 in EV renumeration package

As electric cars surge to their greatest market share and popularity in the UK on record, Alan James of Expert Alliance has turned the lens on the huge savings electric cars can potentially offer drivers and employers. James’ research showed, among other savings, an employee receiving a Tesla Model S as a renumeration and driving around 45,000 miles could save the employee over £40,000, and the employer more than £14,000 over a three year term, due to the huge savings to be made on recharging as opposed to a petrol and diesel model of a similar price.

James also points to savings of upto £7,000 that can be made if the vehicle is used in the London Congestion Charge Zone and the potential £10,000 windfall of savings for companies and employees on repairs and maintenance due to the cars advanced electric infrastructure.


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