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Picking an EV can be overwhelming. 5 factors can inform your purchase — and help you save.

11 December 2024 at 09:51
A close-up shot of an blue electric vehicle as it charges
There are many factors to consider when picking the right electric vehicle for your lifestyle.

Leon Neal/Getty Images

  • There are many factors to consider when purchasing an electric vehicle.
  • It can help to know your daily mileage and charging preferences and see if you qualify for tax credits.
  • This article is part of "Getting Ready for Electric," a series of guides and practical advice for buying your next EV.

If you're considering an electric vehicle for your next car, there are various factors โ€” like your anticipated daily mileage and charging needs โ€” to consider.

Before buying, you may also want to think about EVs that are eligible for tax credits, which can lower the cost of your overall purchase.

Whether you go with a fully electric or hybrid model, there are plenty of new, used, and coming versions of this more sustainable car type to choose from.

In "Getting Ready for Electric," a series of shopping guides, Business Insider has been exploring the ins and outs of EV purchasing. Read on for the best tips for shopping for your next EV.

When choosing your EV, it's important to take stock of your lifestyle and surroundings.
Two EVs charge outside of a gas station.
Two EVs charging outside a gas station.

MediaNews Group/Orange County Register via Getty Images

Battery ranges can vary depending on your driving habits and the climate of where you live.

While driving a few dozen miles daily in a moderate climate like Florida could open a buyer to a wide variety of EV options, someone who drives hundreds of miles daily and lives in a locale prone to colder temperatures may have fewer options overall, Scott Case, a cofounder and the CEO of Recurrent, a startup that tracks EV-battery health, previously told BI.

Newer models tend to accommodate long-haul driving needs better than older models, but they usually have higher price tags.

For more budget-friendly options, consider EVs that come with government-provided tax credits.
Three EV enthusiasts take a look inside the engine of a Chevy EV.
There are various tax incentives and rebates available for EV buyers, depending on the vehicle they choose.

Spencer Platt/Getty Images

The federal government offers tax incentives on certain EVs, while some states have rebate programs that can lower the cost of your purchase.

Each of these discount methods has its own requirements and varies for new versus used EVs.

For example, to get a federal tax credit of up to $7,500, your new EV must have:

  • A battery capacity of 7 kilowatt-hours or more.
  • A gross vehicle weight rating under 14,000 pounds.
  • Final assembly in North America.
  • At least 50% of the minerals used to make it extracted, processed, or recycled in the US, or in countries with which the US has a free-trade agreement.
  • A suggested retail price of no more than $80,000 for vans, SUVs, and pickup trucks, and no more than $55,000 for all other vehicles.

If you meet some but not all of the requirements, you may qualify for a smaller tax credit.

When it comes to used EVs, you may be eligible for a tax credit โ€” 30% of the vehicle price, up to $4,000 โ€” if you have:

  • An EV that is at least 2 model years old, under $25,000, and sold by a licensed dealership.
  • An income that doesn't exceed $150,000 if you're a joint filer or surviving spouse, $112,500 if you're a head of household, or $75,000 if you're a single filer.
  • Not used this credit in the past three years.
There's also a leasing loophole for the EV-curious.
An electric vehicle charges in California
Leasing an EV could be a desirable option for shoppers seeking to save.

PATRICK T. FALLON/AFP via Getty Images

For the EV-curious who don't want to pay for a yearslong commitment, the leasing approach could be the way to go.

Unlike bought EVs, leased ones fall into a different tax-incentive category because they don't undergo the same complex parts-sourcing process and don't have the same income caps.

Because of this distinction, dealerships get a $7,500 federal tax credit for each of their EVs. That's where the EV-leasing loophole comes in: Many dealerships are opting to pass these credits onto their lessees.

That extra cash, bumper-to-bumper coverage, and the ability to return the car at the lease's end are benefits worth considering when shopping.

When it comes to powering up your EV, public fast chargers are becoming more readily available.
An EV charges on the street in Hoboken, NJ.
EV charging options include public and at-home setups.

Gary Hershorn/Getty Images

The Department of Energy reported that there are more than 61,000 EV charging stations nationwide, double the number in 2020.

The majority of Americans โ€” 95%, a Pew Research Center study found โ€” live in counties with at least one of these stations.

If you're close to one of these stations, an EV could be a convenient and inexpensive alternative to a gas-powered car.

Or you can invest in an efficient at-home charging setup.
A Tesla Model Y charges in a garage with a dog in the trunk.
Charging your electric vehicle at home can extend your battery's lifespan.

James D. Morgan / Contributor

Though more of an investment, at-home EV chargers can make your green-car purchase that much more worthwhile, Jenni Newman, the editor in chief of Cars.com and an EV owner, previously told BI.

Not all public charging ports are compatible with all EV car models, and drivers have reported coming across broken chargers. An at-home charging setup could eliminate those issues.

EV owners can charge their cars within hours or overnight โ€” a slower method that can prolong battery life โ€” and end up with 250 to 300 miles of driving range without leaving their driveways.

These setups range in cost โ€” from $250 to $7,000 โ€” depending on your outlet location, the voltage your electric panel can support, and the speed at which you want to charge your vehicle.

Like with buying or leasing an EV, there are charger tax credits available from the federal government.

No matter your needs, you can expect to see a wider variety of EV options in the coming years.
Jeep Wrangler hybrid-model cars sit on a lot.
Automakers are investing in more hybrid-EV production.

Justin Sullivan/Getty Images

As automakers adjust their EV-manufacturing strategies, they're investing in more hybrid EVs and models at lower price points.

Because of these strategic changes in the car industry, you can expect a bigger menu of EV options for both fully electric and hybrid cars.

Read the original article on Business Insider

A look back at Jaguar's history — from a sidecar company to James Bond villains, to the latest rebranding controversy

30 November 2024 at 02:52
image of old jaguar car
The first Jaguars were built in the 1930s under the name SS Cars Limited.

Universal History Archive/Universal Images Group via Getty Images

  • Jaguar's founder started in the motorcycle sidecar business before building his first Jag in 1935.
  • The luxury carmaker is rebranding with a new logo and controversial ad campaign.
  • Here's a look back at the British carmaker over the last century.

Luxury British carmaker Jaguar has come a long way from its humble beginnings in the early 20th century.

The company's founder started making motorcycle sidecars in the 1920s before creating the first Jaguar car in 1935. Over the next few decades, Jaguar became synonymous with elegance and power. It's been used in racing, as the preferred vehicle of the British royal family, and by several villains in James Bond movies.

Today, Jaguar is preparing to launch its all-electric vehicle lineup, set to come out some time in 2026. And in preparation for its next generation, Jaguar unveiled a new branding campaign โ€” complete with a new logo, redesigned leaping jaguar mark, and a promotional video that's stirred controversy online.

Here's a look back at the company over the last century, and surprising facts you might not know about its history.

Early days as Swallow Sidecar Company

In 1922, Sir William Lyons โ€” who later became known as "Mr. Jaguar" โ€” co-founded the Swallow Sidecar Company with a man named William Walmsley. Within a few years, Lyons had built his first car, called the SS1.

image of Lyons looking down at old car
Jaguar founder Sir William Lyons (center) looked at a 1938 Swallow Sidecar three-and-a-half liter 100 in 1972.

PA Images/PA Images via Getty Images

In 1934, Lyons bought the company out from Walmsley, renamed it SS Cars Limited.

And in 1935, the first Jaguar was born, a model named the SS Jaguar.

Lyons renamed the company Jaguar Cars Limited in 1945 in an effort to build a brand around the luxury sports cars it was making at the time.

image of old jaguar car
An SS Jaguar 100 was built between 1936 and 1941 by SS Cars Limited.

Universal History Archive/Universal Images Group via Getty Images

Mid-century success

The 1930s through 1950s were marked by a number of innovations for the company, which it touts on in corporate history.

Jaguar introduced its first four-door model in 1937 with the SS Jaguar 2ยฝ Liter Sedan, and by 1948, it had created the world's fastest production car โ€” the Lyons-designed XK120, which could reach speeds up to 133 miles per hour.

In 1951, Jaguar introduced its aerodynamic C-type model, which was 25% lighter than the XK120 and won first place when it debuted at the Le Mans 24-hour race.

Then, in 1954, Jaguar rolled out one of the first cars with a unibody structure, the D-type racecar. Like the C-type before it, the D-type also made history at Le Mans, scoring first place three consecutive years, including in 1957, when the car secured five of the top six places.

All this built up to 1961 when Jaguar unveiled one of the most iconic cars of all time โ€” the E-type.

image of lyons with jaguar car
Sir William Lyons debuting the Jaguar E-Type at the 1961 Geneva Motor Show.

Jaguar

image of red sports car
Jaguar's famous E-type model was introduced in 1961.

Jaguar

Italian racing driver and founder of Ferrari, Enzo Ferrari, is frequently cited as declaring the E-type "the most beautiful car in the world," according to classic car auction house RM Sotheby's.

Some of the E-type's most famous owners included Frank Sinatra, Brigitte Bardot, and Steve McQueen, according to lifestyle magazine Gentleman's Journal.

The Museum of Modern Art in New York City acquired and first exhibited an E-type in 1996, becoming just the third car in the museum's design collection.

image of Steve McQueen and wife with jaguar car
Actor Steve McQueen and his wife Neile posing with one of his Jaguar sports cars in 1960.

AP Photo

"Rarely has a car inspired the kind of passion in both car enthusiasts and the general public that the Jaguar E-type has. Even today, the E-type is considered an icon of the postwar British sports car," Christopher Mount, a MoMa curator who organized the Jaguar exhibition, said in a press release at the time.

Jaguars in popular culture

Jaguars have long been a favorite of the British royal family, along with Land Rovers and Range Rovers, which are part of the Jaguar Land Rover brand, owned by India-based Tata Motors.

The family's love for the brand dates back at least to 1955, when the Queen Mother Queen Elizabeth acquired the Jaguar Mark VII M Saloon 464 HYV, which was specially made in the royal color, claret, according to historic preservation charity Jaguar Heritage Trust.

image of jaguar in front of castle
The Jaguar Mk IX formerly owned by Queen Elizabeth, the Queen Mother.

National Motor Museum/Heritage Images/Getty Images

image of princess diana with jaguar car and horses
Princess Diana with a Jaguar XJ Sovereign at the Harrods Polo Cup in Windsor, UK in 1987.

Princess Diana Archive/Getty Images

Other members of the royal family, including Princess Diana and Queen Elizabeth II, also owned and drove Jaguars over the years.

And a number of Jaguar vehicles have been driven by villains in James Bond movies, like the Jaguar XKR driven by henchman Tang Lin Zao in 2002's "Die Another Day," the Jaguar XF featured during a car chase in 2021's "No Time to Die," and the Jaguar C-X75 driven by assassin Mr. Hinx in 2015's "Spectre."

Jaguar's next chapter

Jaguar first announced in 2021 that it would be ditching internal combustion engines to go all-in on EVs.

In November, Jaguar stopped selling new models of its cars in the UK as it prepares for its electric vehicle launch, expected to hit the market sometime in 2026.

As part of this next phase, Jaguar has debuted a new brand identity focused on the creative philosophy of "exuberant modernism," which the company defines as "imaginative, bold, and artistic at every touchpoint."

jaguar PR photo showing models walking in pink desert
Jaguar's new video ad features models in colorful, modern clothing, and doesn't show any cars.

Jaguar

Jaguar Chief Creative Officer Gerry McGovern said in a statement that the company's new vision was inspired by Lyons' belief that "a Jaguar should be a copy of nothing."

The company's new marketing campaign included a promotional video that featured models clad in colorful high fashion, with no cars in sight.

Some conservative social media users criticized the company as being too "woke" โ€” partly over the look of the models it chose, while others have questioned why the ad didn't show any cars.

Meanwhile, high-profile critics of the rebranding video โ€” which has been viewed more than 160 million times on X โ€” included Tesla CEO Elon Musk, the influencer brothers Andrew and Tristan Tate, and the conservative personality Ian Miles Cheong.

In response to the video posted on X by Jaguar, Musk wrote: "Do you sell cars?" And Nick Freitas, a Republican member of the Virginia House of Delegates, replied to Jaguar on X: "Well โ€ฆ we know where the advertising team for Bud Light went," referring to the backlash to a Bud Light ad in 2023 that featured a transgender influencer.

Copy nothing. #Jaguar pic.twitter.com/BfVhc3l09B

โ€” Jaguar (@Jaguar) November 19, 2024

Jaguar's managing director, Rawdon Glover, defended the British luxury car maker's rebranding campaign to the Financial Times โ€” calling out some of its online critics and characterizing their reaction as "vile hatred" and "intolerance."

Jaguar said it would announce more details about its new branding strategy in December, though it's not clear whether that will include specifics about any of its forthcoming electric vehicles.

As part of the brand's positioning, the newly announced Jags are expected to be significantly more upmarket than the ones that are being phased out, Car and Driver previously reported, citing a Range Rover from the brand's corporate cousin that costs about $400,000 as where the brand wants to be. (Most 2024 Jaguar models have list prices of about $50,000 to $80,000.)

Without commenting specifically on the recent backlash to the new branding campaign, Jaguar previously said in a statement to Business Insider: "The brand reveal is only the first step in this exciting new era, and we look forward to sharing more on Jaguar's transformation in the coming days and weeks."

Read the original article on Business Insider

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