Business

Study names Tesla as the cheapest EV to charge & drive

By David Sickels
May 21, 2022

Zutobi has released its new study that calculates the cost of running over 100 different electric vehicles, revealing the most affordable models to run. The company ranked the vehicles according to how much it would cost to drive them 100 miles. Energy rates vary by state, so national energy prices were used to calculate the ranking.

The Tesla Model 3 Long Range Dual Motor is the most efficient electric vehicle to run, covering 100 miles on just $3.29 of charge. This allows it to travel over 3,000 miles for $100 worth of charging up.

In second place is the standard Tesla Model 3 at $3.45 of electricity for 100 miles. Meanwhile, Hyundai IONIQ Electric claims third place with 100 miles worth of electricity coming in at $3.49, equating to 2,866 miles per $100.

BorgWarner acquires Hubei SSE charging business

SSE’s electrification capabilities in China are expected to complement BorgWarner in Europe and North America.

By David Sickels
March 9, 2023

BorgWarner-Santroll-eMotor-Handshake-1400

BorgWarner has agreed to acquire the electric vehicle solution, smart grid and smart energy businesses of Hubei Surpass Sun Electric (SSE). The transaction has an enterprise value of up to RMB 410 million (approx. $59.36 million).

Headquartered in Xiangyang, Hubei province, China, SSE’s electrification business supplies patented electric vehicle charging solutions to customers in China and more than 70 other countries. SSE says it has delivered over 50,000 charging points and has led the engineering, procurement, and construction (EPC) of more than 250 charging station sites. SSE’s charging and electrification capabilities in China are expected to complement BorgWarner’s existing capabilities in Europe and North America, the companies say. SSE’s 2022 revenues for the electrification business are expected to be approximately RMB 180 million (approx. $26.06 million).