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<keyword id="19963112" type="General" weightage="20" keywordseo="Electric-vehicle-sales" source="keywords">Electric vehicle sales</keyword> registered a 55.2 per cent on-year growth at 1,79,038 units in July driven by a massive 96 per cent jump in e-two-wheeler sales, automobile dealers' body <keyword id="20108734" type="General" weightage="20" keywordseo="FADA" source="keywords">FADA</keyword> said on Tuesday. The total <keyword id="6354973" type="General" weightage="20" keywordseo="electric-vehicles" source="Orion">electric vehicles</keyword> sales for July 2023 were at 1,16,221 units, according to the monthly sales data from Federation of Automobile Dealers' Association (FADA). The electric two-wheelers sales during the previous month stood at 1,07,016 units, up 95.94 per cent, from 54,616 units sold in July last year, while the electric three-wheeler sales grew 18.18 per cent at 63,667 units, from 58,873 units year earlier, as per FADA. The commercial vehicle sales during the reporting month was also on an upward trajectory, growing two-fold on a year-on-year basis to 816 units, from 364 commercial vehicles sold in July 2023, it stated. Passenger vehicles, however, declined 2.92 per cent at 7,541 units in July, as against 7,768 units in the same month of last year, as per data. "The rising market share in the 2W and 3W <keyword id="22689146" type="General" weightage="20" keywordseo="EV-segments" source="keywords">EV segments</keyword> for July 2024, with YoY growth rates of 95.94 per cent and 18.18 per cent respectively, and a market share of 7.4 per cent and 57.6 per cent, respectively for the month, is a clear indication of the growing acceptance and demand for electric vehicles in India," FADA President Manish Raj Singhania said. The PV segment, while showing a marginal year-on-year decline of 2.92 per cent, maintains a market share of 2.4 per cent, Singhania said, adding that the CV segment has shown remarkable growth with a year-on-year increase of 124.2 per cent and a current (July) market share of 1.02 per cent. The combination of attractive discounts and the anticipation of the discontinuation of the EMPS (Electric Mobility Promotion Scheme), despite its extension, has significantly boosted sales, he said. Announced by the Ministry of Heavy Industries in March, for a four months period-April 1,2024 to July 31,2024 to boost the adoption of EVs across the country with a total outlay of Rs 500 crore, the EMP scheme has now been extended by September 30, while the scheme's outlay has also been increased to Rs 778 crore. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a> <a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms">Neeraj Chopra qualifies for finals with a first throw of 89.34m – top rivals to look out for</a>

Electric vehicle sales rose 55.2% to 1.79 lakh units in July: FADA

<div class="KonaFilter image-container display-table"><div><div class="image on-image">NissanThe 2019 Nissan Leaf e+.</div></div></div><ul class="summary-list"><li>The 2019 <a href="https://www.businessinsider.com/category/nissan-leaf" target="_blank" rel="noopener">Nissan Leaf</a> e+ <a href="https://www.businessinsider.com/category/ev" target="_blank" rel="noopener">EV</a> made its world debut at the 2019 Consumer Electronics Show (<a href="https://www.businessinsider.com/category/ces-2019" target="_blank" rel="noopener">CES</a>) in Las Vegas. </li><li>The Leaf e+ can go 226 miles on a single thanks to a larger 62 kWh battery pack.</li><li>This puts its performance on par with rivals such as the <a href="https://www.businessinsider.com/category/chevorlet" target="_blank" rel="noopener">Chevrolet</a> Bolt and the <a href="https://www.businessinsider.com/category/tesla" target="_blank" rel="noopener">Tesla</a> Model 3.</li><li>The 2019 <a href="https://www.businessinsider.com/category/nissan" target="_blank" rel="noopener">Nissan</a> Leaf e+ arrives in US showrooms this spring. </li></ul>Nissan introduced the new Leaf e+ electric vehicle at the 2019 Consumer Electronics Show, or CES, in Las Vegas. The new Leaf e+ is an update of the second-generation Leaf that debuted in 2017 and remedies the EV's biggest flaw: its lack of range. In <a href="https://www.businessinsider.com/nissan-leaf-ev-review-new-generation-2018-3" target="_blank" rel="noopener">Business Insider's 2018 review of the Leaf</a>, we noted:"The new Leaf is a solid second effort from Nissan. However, there remains one glaring fault with the Leaf, and it's the range. At 151 miles, it's certainly a major improvement over the outgoing model. But range anxiety is still a problem, and anything less than 200 miles on a single charge is no longer competitive." The original Nissan Leaf launched back in 2010, and in the years since, it has become one of the most popular EVs in history, with more than 380,000 cars sold. <div class="KonaFilter image-container display-table"><div><div class="image on-image">Nissan</div></div></div>But with long-range EVs such as the <a href="https://www.businessinsider.com/2017-chevy-bolt-review-photos-2017-6" target="_blank" rel="noopener">238-mile Chevrolet Bolt</a> and the <a href="https://www.businessinsider.com/tesla-model-3-long-range-premium-review-pictures-2018-10" target="_blank" rel="noopener">310-mile Tesla Model 3</a>, the 151-mile second-generation Leaf is no longer at the forefront of the industry.Enter the Leaf e+ and its 226 miles of range.Read more: <a href="https://www.businessinsider.com/mercedes-benz-cla-unveiled-ces-2019-1" target="_blank" rel="noopener">Mercedes-Benz just unveiled the stylish new CLA coupe to take on BMW and Audi</a>.To achieve this, Nissan replaced the current 40 kWh battery with a much larger 62 kWh pack. In addition, the existing 147 horsepower, 110 kW electric motor has been swapped out for a 160 kW unit that produces 215 horsepower and 250 pounds-feet of torque. According to Nissan, this results in a 13% improvement in the Leaf's 50 mph to 75 mph acceleration time. <div class="KonaFilter image-container display-table"><div><div class="image on-image">Nissan</div></div></div>In addition to a new drivetrain, the Leaf e+ will get the latest in Nissan's ProPilot Assist semi-autonomous assistance technology. The 2019 Nissan Leaf e+ will go on sale in Japan this month, but it won't arrive in the US until this spring, and in Europe a couple of months after that. Nissan has not yet announced pricing for the Leaf e+. The current 151-mile Nissan Leaf starts at $29,990. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/gumball-3000-rally-josh-cartu-win-ferrari-2018-12">What it's like to win the Gumball 3000 where drivers party until 2 am every night and drive 3,000 miles in 7 days</a></h3> <div> </div> </div>

Nissan just fixed the biggest problem with the Leaf EV, and now it's ready to take on Chevy and Tesla

<ul class="summary-list"><li>Mercedes-Benz is installing fast EV charging stations at 100 <a target="_blank" class="" href="https://www.businessinsider.com/starbucks-history-timeline-50-years-in-photos-coffee-drive-thrus-2021-3">Starbucks</a> locations across the nation.</li><li>The partnership will help reduce range anxiety and could drive more Starbucks sales.</li></ul>Mercedes-Benz is bringing its fast electric-vehicle charging stations to 100 Starbucks locations. The move is a win for both EV owners and Starbucks, which is likely hoping to persuade drivers to stop in for a coffee or bite to eat while they charge up.The new 400 kW stations — with fast-charging capabilities that can juice up compatible EVs to about 80% in about 30 minutes — are set to be <a target="_blank" class="" href="https://www.prnewswire.com/news-releases/mercedes-benz-high-power-charging-and-starbucks-team-up-to-launch-an-elevated-ev-charging-experience-across-america-302199243.html">installed</a> in stores around the nation, including across Interstate 5, a critical West Coast route from Canada to Mexico. The charging stations will be accessible to all EV owners.The new charging stations will help reduce <a target="_blank" href="https://www.businessinsider.com/drove-electric-rv-from-london-paris-serious-range-anxiety-2023-6">"range anxiety" among EV owners</a>, giving them an easily accessible and well-known place to stop when their batteries run low.Range anxiety is the worry that an EV will run out of charge on a trip. Owners of gas-powered vehicles don't have to worry about this issue because they're usually near a gas station. But for EVs, it's a major roadblock to widespread adoption. In <a target="_blank" class="" href="https://www.businessinsider.com/ev-charging-is-so-bad-its-driving-owners-back-to-gas-2024-6#:~:text=A%20recent%20consumer%20study%20conducted,to%20an%20internal%2Dcombustion%20engine.">a June McKinsey survey, 46%</a> of US EV owners polled said they were likely to switch back to a gas-powered vehicle, citing range anxiety as a major issue.It's worth noting that <a target="_blank" class="" href="https://www.businessinsider.com/electric-vehicle-range-ev-charging-station-infrastructure-issues-2024-5">EV companies have come a long way</a> — fully battery-powered cars used to be able to drive only about 100 miles on a full charge in ideal weather conditions. Today, that number has just about tripled.However, <a target="_blank" href="https://www.businessinsider.com/electric-car-ev-sales-prices-problem-transportation-2024-1#:~:text=Sure%2C%20sales%20of%20EVs%20keep,hit%20the%20government's%20sales%20targets.">inconsistent charging hubs still present a significant hurdle</a> in wide-scale EV adoption, especially for drivers who embark on road trips or travel through remote areas. Lawmakers have tried to bridge the gap with EV tax breaks.And given the industrywide effort to increase charging accessibility, it isn't uncommon for EV makers to partner with other companies to create charging hubs.Mercedes-Benz previously partnered with Buc-ee's and Simon Property to install its high-power charging hubs across the US. A spokesperson for the company told Business Insider it focused on regions where EV drivers were already prevalent to accelerate adoption. It also aims to cover gaps in charging coverage, like on popular travel routes, the spokesperson added.They said it planned to expand to other locations, with a goal to eliminate the guesswork for the driver and create a seamless charging experience.While EV chargers won't affect Starbucks' ambitions to reduce its carbon emissions by 50% by 2030, the partnership enhances Starbucks' sustainability efforts and could help it combat a recent decline in comparable North American sales, <a target="_blank" class="" href="https://www.businessinsider.com/amazon-starbucks-earnings-how-cautious-us-consumers-spending-sales-decline-2024-5">which dropped 3% in the second quarter</a>.A company spokesperson told BI that by 2030, it hoped to lead the retail industry in decarbonization solutions. The spokesperson said that expanding EV networks was "good for business and good for our planet.""Partnering with Mercedes is the next step in expanding our EV charging network so our customers can refuel sustainably while they enjoy Starbucks," Michael Kobori, Starbucks' chief sustainability officer, said in the joint statement.Starbucks also partnered with Volvo in 2022 to place charging stations at 15 Starbucks stores in a 1,350-mile span from Denver to Seattle. The company said in its announcement it had 1,000 company-operated and licensed stores with nearby access to EV charging.The Starbucks spokesperson told BI that the company was not paying for the installation costs but would provide the space for stalls and other equipment. The number of chargers available at each Starbucks store will vary, but there should be a minimum of four at each location, the spokesperson added.The spokesperson said the coffee giant was continuing to learn how its customers interact with EV stations and exploring partnerships and areas that would benefit from similar routes.Mercedes-Benz opened its first high-power-charging site in November as part of an initial $1 billion investment to construct "the most desirable charging network." Since then, it's opened a dozen locations with 400 kW chargers across the country and plans to expand to half the US in the next 18 months.

Starbucks could give a much-needed jolt to the EV market

<keyword id="6358070" type="General" weightage="20" keywordseo="mumbai" source="Orion">Mumbai</keyword>, EV startup <keyword id="5489470" type="General" weightage="100" keywordseo="simple-energy" source="Orion">Simple Energy</keyword> is looking to roll out two new <keyword id="440919" type="General" weightage="20" keywordseo="e-scooters" source="Orion">e-scooters</keyword> in the next quarter which would be attractively priced for the consumers, its founder Suhas <keyword id="6357789" type="General" weightage="80" keywordseo="rajkumar" source="Orion">Rajkumar</keyword> said. With the introduction of affordable e-scooters, the company is expecting to retain not only the existing investors but also onboard institutional players and family offices globally for its proposed USD 100-million fund-raise, Rajkumar told PTI. The company last month launched its maiden premium e-scooter Simple ONE, at Rs 1.45 lakh and commenced deliveries in a phased manner with Bengaluru to begin with from 7th of this month. The introduction of an affordable e-scooter is part of the company's plans to have a portfolio of three scooters, one performance bike and possibly a four-wheeler in the next three years, Simple One founder and CEO said. "Rs one lakh to Rs 1.30 lakh is the affordable price point for a low-end scooter with minimal performance. This is what would matter to the customers. And we are working on those price points and looking to compete with those brands," Rajkumar said, adding that the e-scooters, will be launched in the next quarter. <keyword id="6360326" type="General" weightage="50" keywordseo="electric" source="Orion">Electric</keyword> two-wheeler sales in the last fiscal surged over two-and-half fold year-on-year to 8,46,976 units (based on data sourced from OEMs), EV manufactures body SMEV had said in April. Of this, the industry saw sales of 1.2 lakh low-speed e-scooters with top speed less than 25 km/hour, while the total sales of high-speed E2W (top speed more than 25km/hr) stood at 7,26,976 during the year. Rajkumar said Simple Energy has shelved plans to develop a vehicle for the last-mile delivery as almost 90 per cent of the market has already been covered by the earlier entrants. Simple Energy's focus will be to develop the B2C model more going forward, he said, adding that the company is working on the charging infra, which is expected to go live in August, Rajkumar said. On funding, he said "we have a great pipeline of existing and new investors in our USD 100-million fund-raise plan for production and expansion." Besides, the company is also tapping in family-offices globally for this round of funding, he said. Earlier in February this year, Simple Energy had raised USD 20 million in a bridge round from a clutch of investors to ramp up production. The company has a manufacturing facility in Shoolagiri in Tamil Nadu with an annual capacity of around 5-lakh units.

Simple Energy plans to roll out 2 new affordable e-scooters in next quarter

The <keyword id="23021375" type="General" weightage="20" keywordseo="domestic-passenger-vehicle-industry" source="keywords">domestic passenger vehicle industry</keyword> volumes declined by low single digit in August 2024 as compared with August 2023, because of weak retail demand trends and higher <keyword id="21396778" type="General" weightage="20" keywordseo="inventory-levels" source="keywords">inventory levels</keyword> at the dealerships according to Kotak Institutional Equities. The report suggests that the major reason for the sluggishness in sales of tractors is the uneven spatial distribution of rainfall, particularly in northern and eastern regions. It also highlights that growth will pick up in the coming months on the back of <keyword id="23021373" type="General" weightage="20" keywordseo="improved-monsoon" source="keywords">improved monsoon</keyword> conditions. The upcoming festive season will also improve the situation as traditionally it is a peak period for auto sales. Strong festive demand could help offset some of the losses experienced in the first half of the fiscal year. The weak wholesale figures in August were driven by private vehicles (PV), commercial vehicles (CV) and tractor original equipment manufacturers (OEM). Retail sales declined in single digits (yoy) for most of the companies. The PV segment saw a low single-digit decline in domestic wholesale volumes year-on-year (YoY) in August 2024, driven by weak retail demand and elevated inventory levels at dealerships, which stood at approximately 70 days. The retail sales fell by mid-single digits YoY during the month. Maruti Suzuki India Limited (MSIL), the largest player in the segment, reported a 4 per cent YoY drop in total volumes, including a 5 per cent decline in domestic sales but it was partially offset by a 6 per cent rise in the export volumes. MSIL's wholesale market share is estimated to have slipped by 250 basis points YoY to approximately 40.5-4 per cent says the report. Other major players also faced challenges in sales. Tata Motors recorded a 3 per cent YoY decrease in PV volumes, while Hyundai Motors reported an 8 per cent drop. However, Mahindra &amp; Mahindra (M&amp;M) bucked the trend with a 16 per cent YoY increase in PV volumes, and Toyota India posted a significant 37 per cent YoY growth on low volumes. Kia and MG Motors also experienced an uptick in sales. The two-wheeler (2W) segment showed resilience with high single-digit YoY growth in domestic wholesale volumes, largely driven by channel filling ahead of the festive season. Retail sales of the internal combustion engine (ICE) two-wheelers grew by mid-single digits YoY, while electric two-wheeler (EV 2W) sales surged by 41 per cent YoY, propelled by new mass-market EV launches and attractive discounts. Among the key players, Hero MotoCorp (HMCL) saw a 5 per cent YoY rise in volumes, and TVS Motor reported a robust 14 per cent YoY increase, with growth in both domestic and export segments. Bajaj Auto's volumes grew by 18 per cent YoY, driven primarily by domestic sales. However, Royal Enfield faced a 5 per cent YoY decline in volumes. Going forward, the report highlighted that the Commercial Vehicle (CV) segment underperformed during the month, with domestic volumes declining by low double digits YoY, primarily due to weakness in the Medium and Heavy Commercial Vehicle (MHCV) truck and Light Commercial Vehicle (LCV) segments. Tata Motors experienced a 15 per cent YoY drop in domestic CV volumes, with sharp declines in Small Commercial Vehicle (SCV) cargo (down 23 per cent) and MHCV trucks (down 15 per cent). Ashok Leyland also reported a 7 per cent YoY decline in CV volumes, while VE Commercial Vehicles (VECV) managed a modest 1 per cent YoY increase. In August, the domestic tractor segment remained flat YoY with volumes coming in 5-6 per cent. During this period, M&amp;M's tractor volumes grew by 1 per cent YoY, while Escort Kubota's volumes remained unchanged compared to the same period last year. The report says that strong festive demand could help offset some of the losses experienced in the first half of the fiscal year, particularly if economic conditions and consumer sentiment improve.

Auto Industry sales to surge on the back of improved monsoon, festive season demands: Report

<ul class="summary-list"><li>1,920 Ford dealers have signed on for a controversial EV sales program.</li><li>Ford said earlier this year dealers would need to invest up to $1.2 million to sell EVs.</li></ul>Buying an electric Ford could soon mirror experiences at upstart EV-makers like Tesla and Rivian.Nearly two-thirds of Ford's 3,000 US dealerships have agreed to new no-haggle EV sales standards, CEO Jim Farley said Monday at a conference in Detroit, signaling a next-step for Ford as it aims to become the US's number-one seller of EVs.Since launching the Mustang Mach-e and F-150 Lightning electric vehicles, Ford under Farley has accelerated its push toward an all-electric future. The move to change the dealership experience is just the latest in a series of strategic changes for the company this year, including a <a href="https://www.businessinsider.com/why-ceo-jim-farley-isnt-spinning-off-fords-ev-business-2022-3">reorganization</a> of the company's powertrain divisions.The program has met some opposition already, including a lawsuit from New York dealers filed last week. They say the EV sales requirements set by Ford violate franchise laws with illegal pricing requirements and unlawful allocation systems. Ford has said it believes the EV sales program does not violate any franchise laws, and Farley said Monday the company is trying to include its dealers in its EV future, unlike startup rivals like Tesla, Rivian, and Lucid."We're betting on the franchise system," Farley said. "We want to work with our dealers, but there are certain things our customers want that are non-negotiable."To meet some of those "non-negotiable" customer needs – like no-haggle pricing – Ford told dealers earlier this year to invest in a new EV sales structure or be left behind. Following an announcement in September, dealers had until October 31 to decide if they would invest up to $1.2 million and adhere to new sales standards for electric cars.These sales standards include no-haggle pricing and more factory orders for lower-priced EVs, while the investments go toward EV charging stations and other infrastructure upgrades. Dealers had until October 31 to either join the program, or forego EV sales at their stores.There are two tiers to the EV sales program: Certified Elite and Certified. In the elite track, dealers are required to invest up to $1.2 million in facility upgrades and training for staff. On the certified track, the investment requirement is lower – $500,000 – but caps allotted EV sales at the dealership to 25 per year.Of the 1,920 dealers who have signed on, a majority have chosen the Certified Elite track, Farley said.Farley wants Ford to <a href="https://www.businessinsider.com/ford-is-already-working-on-another-electric-pickup-truck-2022-4">compete directly with Tesla</a>, and has pointed to Tesla's direct sales model as <a href="https://www.businessinsider.com/ford-ceo-farley-hints-at-workforce-restructuring-electric-vehicle-business-2022-2">a guidepost</a> for squeezing more profit out of each vehicle. Meanwhile, startups using the direct sales model have some <a href="https://www.businessinsider.com/electric-vehicle-startups-direct-sales-rivian-lucid-tesla-revenue-2022-11">obstacles to overcome</a> as they navigate state franchise laws and find ways to get vehicles into customers' driveways.

Ford's CEO wants to end haggling for electric car sales — and he's gotten two-thirds of US dealers to agree

Global passenger electric vehicle (EV) sales grew 61 per cent (on-year) to reach 2.18 million units in the second quarter this year, a new report said on Monday, as for the first time, <keyword id="1334" type="General" weightage="80" keywordseo="china" source="Orion">China</keyword>'s <keyword id="3745693" type="General" weightage="80" keywordseo="byd-auto" source="Orion">BYD Auto</keyword> became the top-selling EV brand, dethroning Elon Musk-run <keyword id="107096" type="General" weightage="100" keywordseo="tesla" source="Orion">Tesla</keyword>. During Q2, BYD Auto shipped more than 354,000 EV units, an increase of 266 per cent <keyword id="63194" type="General" weightage="80" keywordseo="yoy" source="Orion">YoY</keyword>. Tesla's global sales grew 27 per cent YoY to over 254,000 units, falling short of expectations. Although business in the US increased, Tesla's China business was affected by Covid-19 shutdowns. In total EV sales, battery electric vehicles (BEVs) accounted for almost 72 per cent and plug-in hybrid electric vehicles (PHEVs) for the rest, according to <keyword id="6439913" type="General" weightage="50" keywordseo="counterpoint-research" source="Orion">Counterpoint Research</keyword>. China remained the market leader in EV sales, followed by Europe and the US. China's EV sales increased by almost 92 per cent YoY to reach 1.24 million units from just 0.64 million units in Q2 2021. "As the global semiconductor shortage has eased a bit, automakers are able to cater to the increasing demand for EVs. Moreover, EV sales would have been higher if China had not experienced fresh Covid-19 outbreaks during March," said senior analyst Soumen Mandal. The second half of 2022 is expected to deliver better results, but economic downturns, energy crisis, supply chain bottlenecks and rising geopolitical tensions may hinder the growth of China's automotive market, especially EVs, he mentioned. BMW's EV sales during Q2 increased by 18 per cent YoY. The BMW X3 and i-series models are spearheading the company's push in the BEV segment, while the 5-Series, 3-Series and X5 models are doing the same in the PHEV segment. "Incentives play a crucial role in increasing EV adoption. For example, China's strong incentive program for both automakers and consumers has helped the country become the global EV leader," said Research Vice President Neil Shah. "Apart from big markets, smaller markets like India, Japan, Thailand, South Korea and Malaysia have started providing various benefits for EV buyers and automakers either directly as a rebate in prices or tax exemption," he added. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/akash-isha-and-anant-are-the-future-of-reliance-industries/articleshow/93854579.cms">Reliance of the future – in the hands of Akash, Isha and Anant</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/jio-set-to-launch-true-5g-services-this-2022-diwali/articleshow/93854727.cms">Jio set to launch True 5G services across major Indian cities this Diwali</a>

BYD Auto pips Tesla to become top-selling EV brand globally

<ul class="summary-list"><li><a target="_blank" href="https://www.businessinsider.com/tesla">Tesla's</a> Model Y may offer unlocked driving range for an extra $1,500 to $2,000.</li><li>Elon Musk said the new range provides an extra 40 to 60 miles and is pending regulatory approvals.</li></ul><a target="_blank" href="https://www.businessinsider.com/tesla-ceo-elon-musk">Tesla CEO Elon Musk</a> says its recent Model Y models have more driving range than you thought — but you'll have to pay to get it.<a target="_blank" href="https://x.com/elonmusk/status/1786586974108909815">Musk said in a post on X</a> that Model Y vehicles built over the past few months have an extra 40 to 60 miles of range that can be unlocked, depending on the battery.Musk said Tesla could charge an extra $1,500 to $2,000 for the upgrade and that he's "working through regulatory approvals to enable" the new range.Musk revealed this in response to the Tesla investor Sawyer Merritt's post about the automaker launching a new Long Range RWD Model Y.Merritt said in the X post that the previous Model Y was discontinued. <p class="duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white"><a target="_blank" href="https://www.businessinsider.com/tesla-model-y">Tesla replaced the Standard Range Model Y</a> with a 320-mile Long Range rear-wheel drive for about $2,000 more.<p class="duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white">The EV costs between $44,990 and $49,490, depending on add-ons. Owners who qualify for the $7,500 federal EV tax credit can get the new version for $37,490.<p class="duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white">Tesla is known to use its remote-software rollouts to add features or make fixes to its EVs. This isn't the first time its locked an EV's range and offered access to it for an additional charge.<p class="duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white">Tesla's Model S 70 originally had a 70 kWh battery and 220-mile range, but the company later revealed the battery pack <a target="_blank" href="https://www.businessinsider.com/tesla-model-x-p75d-2016-4">had a higher capacity of 75 kWh</a> with a 237-mile range, which could be unlocked for an additional $3,000.<p class="duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white">Tesla has even <a target="_blank" href="https://www.businessinsider.com/tesla-disables-autopilot-on-model-s-without-alerting-owner-2020-2">disabled software features like Autopilot</a> when someone buys one of their EVs from a third-party vendor.<p class="duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white">When a user asked why the unlocked range isn't offered for free, Musk <a target="_blank" href="https://x.com/elonmusk/status/1786587379522027795">said</a>, "We have to pay the bills somehow."<p class="duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white">The decision to attach a fee to locked updates is a growing trend in the auto industry. BMW <a target="_blank" rel="noopener nofollow" href="https://www.theverge.com/2022/7/12/23204950/bmw-subscriptions-microtransactions-heated-seats-feature">received backlash for making some of its heated seats a subscription service</a>. Mercedes offered an add-on "acceleration increase" for $1,200 a year. Meanwhile, Polestar offered a horsepower upgrade for a fee of $1,195.<p class="duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white">With the EV market slumping, <a target="_blank" href="https://www.businessinsider.com/ev-electric-vehicle-add-on-subscriptions-upsells-automakers-2023-2">subscriptions and unlockable offerings could provide automakers</a> with additional revenue streams.

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