Mobility Updates: Tesla's Price Surge, Fiat's Bold EV Launch, and Ford Revives Iconic Capri

EMOTION NEWSLETTER - Daily Mobility Update - July 12, 2024

Welcome to today’s edition of the Daily Mobility Update. In this issue, we cover Tesla’s price adjustments in Europe following tariff hikes, MG’s new plug-in hybrid SUV, Fiat’s latest electric model, Ford’s revival of the Capri as an electric SUV, and Genesis’s announcement of the GV60 Magma EV.

Tesla Hikes Model 3 Prices Across Europe Amid Tariff Hike

Tesla has raised the prices of its Model 3 by approximately €1,500 in various European countries, including Germany, the Netherlands, and Spain. This increase follows the European Commission's provisional tariffs on EVs manufactured in China. The automaker had warned about potential price hikes due to these tariffs, which could go up to 37.6% depending on the manufacturer. Tesla, facing an additional 20.8% tariff, has requested a recalculation from the European Commission.

BMW Group has similarly sought a recalibration of tariffs for its China-made Mini EVs. Tesla’s price adjustments come after a series of cost reductions in late 2022, which had sparked concerns about a potential price war in the EV market. Earlier this year, Tesla reduced prices for the Shanghai-built Model 3 and the German-manufactured Model Y SUV by up to 17% in Europe.

MG's New HS SUV: A Hybrid Game Changer

The revamped MG HS compact SUV now features a new plug-in hybrid powertrain, boasting a battery-only range of 121 km. Unveiled at the Goodwood Festival of Speed, the updated model includes an enhanced 24.7-kWh battery pack, doubling the size of the previous pack. This upgrade is essential to maintain low CO2 ratings as WLTP regulations change next year to better reflect real-world usage.

The new MG HS starts at €28,500 in the U.K., up from €27,400, with the PHEV model priced at €38,800, an increase from €35,500. The design mirrors the MG3 hatchback, featuring a wider grille and slimmer headlights. The interior includes two 12.3-inch displays for navigation, traffic updates, Amazon Music, and smartphone connectivity via Android Auto and Apple CarPlay. Deliveries of the PHEV model begin in September.

Fiat Grande Panda: A Bold New EV for Under €25,000

Fiat has introduced the Grande Panda, a small EV with crossover styling, priced under €25,000. Unveiled at Fiat's historic Lingotto test track, this model addresses the gap left by the discontinued 500L and Punto. Built on Stellantis' global Smart Car platform, the Grande Panda features a 44-kWh battery with an 83-kW motor, offering a WLTP range of 320 km. The platform, supporting various drivetrains including hybrids, aims to compete with low-cost EVs from China and other markets.

The Grande Panda's design, inspired by the 1980s Fiat Panda, was created by the Centro Stile Fiat in Turin. It features a rugged exterior with robust wheel arches, silver skid plates, and 17-inch alloy wheels. The interior includes a 10-inch instrument cluster and a 10.25-inch central display. At the Turin event celebrating Fiat's 125th anniversary, CEO Olivier Francois emphasized the model's role in filling a significant market niche for small family cars. Production of the Grande Panda will commence in July.

Ford Revives Iconic Capri as Sporty Electric SUV

Ford has revived the Capri nameplate for a sportier, coupe-style version of its new Explorer full-electric SUV. Based on Volkswagen's MEB platform, the new Capri boasts a top range of 627 km. While pricing details have not been disclosed, the Capri is expected to be priced slightly above the Explorer, which starts at €49,500 in Germany. The original Capri, a European-focused coupe first launched in 1969, saw production until 1987, with notable success in both Europe and the U.S.

The Capri will feature a 77-kWh battery, offering a maximum DC charging speed of 185 kW, allowing the car to charge from 10% to 80% in 26 minutes. Available in both single-motor rear-wheel-drive and dual-motor all-wheel-drive versions, the Capri delivers 286 hp and 340 hp, respectively, with acceleration from 0-100 kph in as fast as 5.3 seconds. The vehicle measures 4634 mm in length, with an integrated towbar extending it to 4734 mm. Production volumes will favor the Explorer, making up two-thirds of the output, while the Capri will constitute the remaining third.

Genesis Unveils High-Performance GV60 Magma EV

Genesis has confirmed the upcoming launch of the GV60 Magma EV, the first model to receive the sporty “Magma” upgrade, set to debut next year. This marks a significant step for Genesis as it aims to introduce high-performance variants across its lineup. The GV60, Genesis' first dedicated electric vehicle launched in 2021, is now leading the brand’s Magma program, designed to enhance performance and design.

The GV60 Magma concept, first revealed in March at Genesis House New York, features substantial upgrades, including an improved battery and motor, and fine-tuned chassis and thermodynamics for better dynamics. The vehicle is lower and wider than the existing model, contributing to a lower center of gravity and a sportier feel. It also includes a Magma-exclusive sound system for an enhanced auditory experience. The GV60 Magma EV will first launch in Korea, followed by Europe, closely resembling the concept model. Production is set to begin in Q3 2025.

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