By on August 20, 2020

Chinese automaker Nio is planning to allow customers to lease vehicle batteries independently from the cars themselves, and has involved Contemporary Amperex Technology (CATL) in the venture.

Considering EVs are useless without their battery, leasing an essential component seems to serve little purpose on its face. But Nio intends to sell its ES6 crossover for 273,600 yuan ($39,500) in China with the option to lease the battery for 980 yuan a month. Customers can also choose to purchase the entire vehicle outright for 343,600 yuan ($49,600) if they haven’t tricked themselves into believing a better battery is less than a year away.

This is a weird one, because the stated purpose is to lower the vehicle’s upfront costs. But it’s just a paperweight without an energy source, forcing customers to lease the power pack if they want to use the vehicle — and at no small cost. The companies announced the new program in Beijing on Thursday with Nio CEO William Li stating his company plans to enter Europe in the second half of 2021. Hopefully they’ll be dumb enough to accept the batteries-as-a-service premise. (Read More…)

By on May 24, 2018

2018 Honda Fit Sport 6MT in Orange Fury - Image: Honda

You’d be forgiven for not remembering the Honda Fit EV. Hardly a Bolt or Leaf, the short-ranged electric was available for lease in California for a very brief time; some 1,100 examples arrived on U.S. shores between July of 2012 and October of 2014.

Right now, the only way to get into an electric vehicle bearing the Honda badge is to move to California or Oregon and take out a pretty decent lease on a Clarity EV. That could soon change, as Honda plans to build a successor to that early electric. Yes, it will still use the Fit as its muse. (Read More…)

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