Tom Konrad CFA
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| The Tesla Model S, from the unveiling on 26-Mar-2009. (Photo credit: Wikipedia) |
An EV for the 1%
The chatter among electric vehicle (EV) enthusiasts and investors is all about the launch of the Tesla (NASD:TSLA) model S. A cool ride, no doubt, but not many of us are ever going to buy a sedan that starts at $49,900, even after the $7,500 tax subsidy.
Fortunately for the rest of us, this week also brought news about two much more affordable EVs.
An EV for the 99%
Chicago EV enthusiasts will soon not have to stump up $50K to ride an EV, they’ll be able to ride an EV for just $2. That’s because the Chicago Transit Authority (CTA) just placed the first order for two of New Flyer Industries’ (OTC:NFYEF, TSX:NFI) recently launched battery-electric transit bus. The CTA will pay $2.2 million for the buses, and will begin a pilot program to understand how they will operate in Chicago’s harsh climate.
.... The reporter was shown a Kandi tw0-seater, and Kandi’s mini-EVs were identified by a local power company official (which is a partner in the program) to “possibly” be promoted as they are “more suitable for city driving.”
Another official stated that the rental fee would be low and affordable to working class families. Previous articles have put the monthly rental at 800 yuan a month, or about $126, a price which includes free charging and battery exchanges. At such low rental prices, Kandi’s $7,500-$8,000 EVs will clearly be favored over their competitors’ EVs, all of which cost more than $20,000. The next-cheapest competitor, the