JAGUAR CHARGES UP I-PACE WITH ALL-ELECTRIC RACE SERIES

Todayville

Published

7 years ago

2 minute read

Frankfurt, Germany September 12, 2017

After becoming the first premium manufacturer to enter Formula E in 2016, Jaguar has created the world’s first production battery electric vehicle race series.

The Jaguar I-PACE eTROPHY will be the support series for the FIA Formula E championship, taking place on the same weekends at the same city circuits, starting in late 2018.

Exclusively featuring Jaguar I-PACE eTROPHY racecars, the new all-electric series gives racers of the future a chance to showcase their talent, competing on the world stage in zero-emissions motorsport.

The groundbreaking championship will support the launch of the Jaguar I-PACE – Jaguar’s highly innovative five-seat battery electric sports car which hits the road in the same year.

Up to 20 electric I-PACE racecars will be on the grid in the centre of 10 races in global cities such as Hong Kong, Paris, Sao Paolo and New York, giving future Formula E stars the chance to race in the world-first series.

The announcement follows news that the British government is to ban the sale of petrol and diesel cars from 2040 and reinforces Jaguar Land Rover’s commitment to electrification – from 2020 all new model lines will be electrified, with either hybrid or battery technology.

Jaguar Land Rover Special Vehicle Operations (SVO) in Warwickshire, UK, will build the racecars. They will be based on Jaguar’s first battery electric vehicle, the I-PACE performance SUV, which will hit the streets in late 2018.

Technical specifications, race calendar and costs for the Jaguar I-PACE eTROPHY will be released in 2018.

Customers interested in hearing more should email [email protected]

Demand is anticipated to be high and places will be awarded on a first come, first served basis from entrants and drivers holding the relevant international race licence.

Up Next

Calgary Company Gets Provincial Boost To Revolutionize Pipeline Safety

Don't Miss

How About Pickleball This Long Weekend?

Todayville

Todayville is a digital media and technology company. We profile unique stories and events in our community. Register and promote your community event for free.

Follow Author

Trudeau again blames ‘climate change’ for mostly man-made wildfires

Alberta / 4 hours ago

Pharmacist-led clinics improve access to health care: Lessons from Alberta

COVID-19 / 5 hours ago

Top Fauci Aide Allegedly Learned To Make ‘Smoking Gun’ Emails ‘Disappear,’ Testimony Reveals

Automotive

Red States Sue California and the Biden Administration to Halt Electric Truck Mandates

Published on May 19, 2024

Todayville

From Heartland Daily News

By Nick Pope

“California and an unaccountable EPA are trying to transform our national trucking industry and supply chain infrastructure. This effort—coming at a time of heightened inflation and with an already-strained electrical grid—will devastate the trucking and logistics industry, raise prices for customers, and impact untold number of jobs across Nebraska and the country”

Large coalitions of red states are suing regulators in Washington, D.C., and California over rules designed to effectively require increases in electric vehicle (EV) adoption.

Nebraska is leading a 24-state coalition in a lawsuit against the Environmental Protection Agency’s (EPA) recently-finalized emissions standards for heavy-duty vehicles in the U.S. Court of Appeals for the D.C. Circuit, and a 17-state coalition suing the state of California in the U.S. District Court for the Eastern District of California over its Advanced Clean Fleet rules. Both regulations would increase the number of heavy-duty EVs on the road, a development that could cause serious disruptions and cost increases across the U.S. economy, as supply chain and trucking sector experts have previously told the Daily Caller News Foundation.

“California and an unaccountable EPA are trying to transform our national trucking industry and supply chain infrastructure. This effort—coming at a time of heightened inflation and with an already-strained electrical grid—will devastate the trucking and logistics industry, raise prices for customers, and impact untold number of jobs across Nebraska and the country,” Republican Nebraska Attorney General Mike Hilgers said in a statement. “Neither California nor the EPA has the constitutional power to dictate these nationwide rules to Americans. I am proud to lead our efforts to stop these unconstitutional attempts to remake our economy and am grateful to our sister states for joining our coalitions.”

While specifics vary depending on the type of heavy-duty vehicle, EPA’s emissions standards will effectively mandate that EVs make up 60% of new urban delivery trucks and 25% of long-haul tractors sold by 2032, according to The Wall Street Journal. The agency has also pushed aggressive emissions standards for light- and medium-duty vehicles that will similarly force an increase in EVs’ share of new car sales over the next decade.

California’s Advanced Clean Fleet rules, meanwhile, will require that 100% of trucks sold in the state will be zero-emissions models starting in 2036, according to the California Air Resources Board (CARB). While not federal, the California rules are of importance to other states because there are numerous other states who follow California’s emissions standards, which can be tighter than those required by the EPA and other federal agencies.

Critics fear that this dynamic will effectively enable California to set national policies and nudge manufacturers in the direction of EVs at a greater rate and scale than the Biden administration is pursuing.

Trucking industry and supply chain experts have previously told the DCNF that both regulations threaten to cause serious problems for the country’s supply chains and wider economy given that the technology for electric and zero-emissions trucks is simply not yet ready to be mandated at scale, among other issues.

Neither CARB nor the EPA responded immediately to requests for comment.

Nick Pope is a contributor to The Daily Caller News Service.

Originally published by The Daily Caller. Republished with permission.

Economy

Prime minister’s misleading capital gains video misses the point

Published on May 19, 2024

Todayville

From the Fraser Institute

By Jake Fuss and Alex Whalen

According to a 2021 study published by the Fraser Institute, 38.4 per cent of those who paid capital gains taxes in Canada earned less than $100,000 per year, and 18.3 per cent earned less than $50,000. Yet in his video, Prime Minister Trudeau claims that his capital gains tax hike will affect only the richest “0.13 per cent of Canadians”

This week, Prime Minister Trudeau released a video about his government’s decision to increase capital gains taxes. Unfortunately, he made several misleading claims while failing to acknowledge the harmful effects this tax increase will have on a broad swath of Canadians.

Right now, individuals and businesses who sell capital assets pay taxes on 50 per cent of the gain (based on their full marginal rate). Beginning on June 25, however, the Trudeau government will increase that share to 66.7 per cent for capital gains above $250,000. People with gains above that amount will again pay their full marginal rate, but now on two-thirds of the gain.

In the video, which you can view online, the prime minister claims that this tax increase will affect only the “very richest” people in Canada and will generate significant new revenue—$20 billion, according to him—to pay for social programs. But economic research and data on capital gains taxes reveal a different picture.

For starters, it simply isn’t true that capital gains taxes only affect the wealthy. Many Canadians who incur capital gains taxes, such as small business owners, may only do so once in their lifetimes.

For example, a plumber who makes $90,000 annually may choose to sell his business for $500,000 at retirement. In that year, the plumber’s income is exaggerated because it includes the capital gain rather than only his normal income. In fact, according to a 2021 study published by the Fraser Institute, 38.4 per cent of those who paid capital gains taxes in Canada earned less than $100,000 per year, and 18.3 per cent earned less than $50,000. Yet in his video, Prime Minister Trudeau claims that his capital gains tax hike will affect only the richest “0.13 per cent of Canadians” with an “average income of $1.4 million a year.”

But this is a misleading statement. Why? Because it creates a distorted view of who will pay these capital gains taxes. Many Canadians with modest annual incomes own businesses, second homes or stocks and could end up paying these higher taxes following a onetime sale where the appreciation of their asset equals at least $250,000.

Moreover, economic research finds that capital taxes remain among the most economically damaging forms of taxation precisely because they reduce the incentive to innovate and invest. By increasing them the government will deter investment in Canada and chase away capital at a time when we badly need it. Business investment, which is crucial to boost living standards and incomes for Canadians, is collapsing in Canada. This tax hike will make a bad economic situation worse.

Finally, as noted, in the video the prime minister claims that this tax increase will generate “almost $20 billion in new revenue.” But investors do not incur capital gains taxes until they sell an asset and realize a gain. A higher capital gains tax rate gives them an incentive to hold onto their investments, perhaps until the rate is reduced after a change in government. According to economists, this “lock-in” effect can stifle economic activity. The Trudeau government likely bases its “$20 billion” number on an assumption that investors will sell their assets sooner rather than later—perhaps before June 25, to take advantage of the old inclusion rate before it disappears (although because the government has not revealed exactly how the new rate will apply that seems less likely). Of course, if revenue from the tax hike does turn out to be less than anticipated, the government will incur larger budget deficits than planned and plunge us further into debt.

Contrary to Prime Minister Trudeau’s claims, raising capital gains taxes will not improve fairness. It’s bad for investment, the economy and the living standards of Canadians.