NY State Spurs Commercial Fleets to Transition to Electric

New York State is launching a five year program to accelerate adoption of commercial electric vehicles and help fleets switch over.

The program offers financial incentives over multiple years to encourage companies to convert significant portions of their fleets. Companies will get vouchers for up to $20,000 per electric vehicle they purchase that’s over 10,000 pounds. 

New York State Energy Research and Development Authority (NYSERDA) is managing the program. The financial vouchers will be funded by NY’s Dept of Transportation, which is  committing $10 million in federal Congestion Mitigation and Air Quality funding for the first year.

Smith Electric, which just announced an upcoming IPO and the construction of a factory in the state, will benefit from the program.  Smith is expanding into NY as part of its strategy to provide local assembly, sales and service.  

Coca-Cola, which is working with Smith Electric to convert its fleet, says Smith’s local presence couple with the state’s incentives, will make it much easier and quicker to build a green fleet.

"New York has shown tremendous leadership at the borough, city and state level in paving the way for commercial fleet electrification," says Sam Ori, director of policy for the Electrification Coalition. 

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CODA Holdings announced it’s started production of its 5-passenger electric Coda sedan, with a base price of $39,900, before state and federal incentives.   

The company says the car has the best range per dollar compared to other electric vehicles on the market, because of its efficient production process. It comes with a 10-year, 100,000 mile warranty on the battery.

Coda says the mid-size sedan has a range of 150 miles and can be charged twice as fast as competing vehicles. A 6.6 kilowatt (kW) onboard charger takes 6 hours for a full charge, and just 2 hours for a 50 mile charge.

It accelerates up to 85 mph with ease, they say, and features 134 horsepower and 221 lb-ft of torque, a regenerative braking system, and an air-cooled active thermal management system.

The cars on display at the Los Angeles Auto Show, November 18-27.

Fisker Automotive Producing EV Sportscar

After production delays this year, Fisker says it’s manufacturing its first vehicle, plug-in hybrid Karma. The sports car price starts at $96,000 (priced for the 1%!). They plan to sell 15,000 Karmas next year.

The company received a $529 loan guarantee from the Dept of Energy and raised one of the largest private equity rounds this year, $150 million. Coda raised $76 million and Smith Electric raised $58 million.

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