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☆ Vanilla is the world's second-most expensive spice. So why do Madagascar's farmers live in poverty?
▼ + stars: | 2023-02-03 | by ( Robin Lindsay | Victoria Barranco | ) www.businessinsider.com time to read: 1 min

Vanilla is the world's second-most expensive spice. So why do Madagascar's farmers live in poverty? Read next Most Popular Videos Most Recent Videos

☆ I drove the new Nissan Z. It's a beautiful, $50,000 retro-modern sports car with a few pesky flaws.
▼ + stars: | 2023-02-03 | by ( Alanis King | ) www.businessinsider.com time to read: +10 min

The 2023 Nissan Z is the start of a new era for Nissan's famous "Z" sports car. The 2023 Nissan Z. Alanis KingThe Z has always been special. The 2023 Nissan Z. NissanBut the Z isn't just pretty — it's usable, especially for a two-door sports car. The 2023 Nissan Z. Alanis KingAll of this would have been fine at a lower cost. The 2023 Nissan Z. Alanis KingI think the Z is the right car for a lot of people.

☆ Tesla gets a big tax credit win as rules Elon Musk called 'messed up' get changed to include more vehicles
▼ + stars: | 2023-02-03 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

The US government walked back a controversial part of the new electric-car tax credit. The rule change means that more electric SUVs from Tesla and others qualify for the $7,500 incentive. Under the new federal EV tax credit included in Democrats' Inflation Reduction Act, it matters quite a lot, actually. On Twitter, Tesla CEO Elon Musk called the rules "messed up" and "bizarre." The seven-seat Tesla Model Y qualified for the $80,000 price cap, while the five-seat model did not.

☆ A Tesla driver says his steering wheel fell off his brand new Model Y only five days after getting the car
▼ + stars: | 2023-02-03 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Prerak Patel said his Tesla steering wheel fell of while he was driving down a New Jersey highway. The driver said he'd received the Model Y just five days prior to the incident. Pictures of the steering wheel appear to show the wheel entirely detached from the steering column, only hanging on by exposed wires. He'd always wanted to buy a Tesla, he said, and saw an opportunity when the company lowered its prices for its Model Y and Model 3 on January 13. In 2020, Tesla driver Jason Tuatara posted photos of a Model 3 steering wheel that had fallen off.

☆ Xiaomi demands payout from supplier after car designs leaked
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Feb 2 (Reuters) - China's Xiaomi <1810.HK) said on Thursday it had imposed a 1 million yuan ($149,000) penalty on a supplier after it leaked early design drafts of an upcoming car model. Xiaomi did not disclose the name of the company and Reuters could not identify it. As punishment, the smartphone-turned-car maker said it would impose "economic compensation" of 1 million yuan ($148,763) on the supplier. The spokesperson added it had instructed the supplier to strengthen its information security management, and develop plans to upgrade its confidentiality measures. The company has said it hopes to reach mass production of its cars in the first half of 2024.

☆ The era of health insurance disruptors is over
▼ + stars: | 2023-02-02 | by ( ) www.businessinsider.com time to read: +10 min

Today, they're mostly the poster children of just how challenging it is to break into the insurance industry. Clover Health; Bright Health; Oscar Health; Olivia Reaney/Business InsiderOscar, founded in 2012, and Bright, in 2015, set out to sell health plans to people buying coverage through the Affordable Care Act marketplace. Elevance Health, the parent company of Anthem health plans, is No. Health insurance remains overly complex and mind-numbingly frustrating. Established health insurers haven't been able to stem the rise in health costs, which are mostly determined by the prices for medical care.

☆ MoneyGram boss says no peak in sight for F1's U.S. growth
▼ + stars: | 2023-01-31 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

The number of female viewers was up 34% and averaged 28% of the audience, while significantly younger fans were also watching. "I have kids of college age and they have friends and those friends have watch parties on Sunday mornings. It’s not what I was doing in college, it really wasn’t there," MoneyGram's marketing head Greg Hall told Reuters. Holmes said MoneyGram's global business made Formula One a good fit to reach a younger, digitally-aware consumer demographic. "For us to push the brand as faster, more interesting, cooler... the association with Formula One makes a huge difference."

A Tesla car battery "spontaneously" burst into flames on a California freeway Saturday, and firefighters needed 6,000 gallons of water to put it out. In 2021, the National Highway Transportation Safety Administration (NHTSA) declined to open an investigation into Tesla car battery fires, calling them "rare events." A handful of studies have shown electric vehicles are less likely to catch fire than gasoline or hybrid-electric vehicles — but that when they do, they burn hotter and longer. Tesla CEO Elon Musk has previously said only 0.01% of Teslas have ever caught fire. That compares with an annual rate of 0.08% for all passenger and heavy-duty vehicles in a given year, according to NHTSA and the National Fire Protection Association.

☆ See photos from the Tesla Model S that 'spontaneously' caught fire while driving down the highway
▼ + stars: | 2023-01-30 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

A Tesla Model S "spontaneously caught fire" on a California highway on Saturday. Metro Fire Sacramento said that it took about 6,000 gallons of water to put the fire out. No one was injured in the incident, and the driver was able to safely pull over to the side of the highway, the department said. It took the fire department about 6,000 gallons of water to put out the fire. In 2020, the National Transportation Safety Board said that EV battery fires can represent a risk to first responders, including electric shock and a reignited fire due to the "stranded" energy in a damaged EV battery.

☆ Should you warm your car up in the winter before driving? I spoke with more than 30 mechanics and couldn't get a straight answer.
▼ + stars: | 2023-01-29 | by ( Jessica Orwig | ) www.businessinsider.com time to read: +7 min

Car manufacturers don't have consistent advice on how long you should idle your car in the cold. Generally speaking, idling your car for about 30 seconds when it's cold can help it run smoothly. Others like Ford and Chevrolet recommended idling for no more than 30 seconds after starting. How much time is where mechanics diverge on the subject, but around 30 seconds is the general consensus for modern engines. What I can say is if you idle much longer than 30-60 seconds, you're just wasting gas and money.

☆ With tiny EV, City Transformer takes aim at Europe's urban markets
▼ + stars: | 2023-01-29 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

[1/5] An urban electric vehicle with range of 180 kilometres designed by Israeli startup City Transformer, is shown in this undated photo provided by City Transformer and obtained by Reuters on January 27, 2023. The additional funds the startup is raising should help speed up series production, Formoza added. The EV can fit two people sitting in tandem, or could be used for last-mile delivery or other businesses, the company said. The CT-2 will cost 16,000 euros ($17,400) before taxes and Formoza said major carmakers have created space for startups like City Transformer by shifting away from smaller cars. City Transformer is lobbying the EU for subsidies for smaller EVs like the CT-2 that are currently available for larger models, Formoza added.

☆ These are the 11 cheapest electric cars you can buy in 2023
▼ + stars: | 2023-01-27 | by ( Tim Levin | ) www.businessinsider.com time to read: +6 min

We've found the 11 cheapest new EVs you can buy in 2023. Chevrolet Bolt EVThe 2023 Chevrolet Bolt EV. ChevroletRetail price: $27,800EPA-estimated range: 247 milesQualifies for EV tax creditChevy recently introduced a big brother for the Bolt EV, the Bolt EUV. MazdaRetail price: $34,110EPA-estimated range: 100 milesMazda's first electric model disappoints in the all-important range department. KiaRetail price: $39,550EPA-estimated range: 253 milesThe Kia Niro gets bold new looks for the 2023 model year.

☆ Why the $7,500 EV tax credit may be tougher to get starting in March
▼ + stars: | 2023-01-25 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

The Inflation Reduction Act, a historic climate law President Biden signed in August, tweaked rules for an existing tax credit associated with the purchase of "clean" vehicles. The law, which extended the tax break through 2031, changed some requirements to get the full $7,500 value of the "clean vehicle credit." Some rules are on hold until the IRS issues guidanceSome of the tax credit rules took effect on Jan. 1. How the $7,500 clean vehicle tax credit worksWestend61 | Westend61 | Getty ImagesThe clean vehicle credit is a "nonrefundable" tax credit. The pending rules will tie the $7,500 credit amount to whether a new clean vehicle's battery meets a critical mineral and a battery component requirement.

☆ Orange bitcoin Mercedes owner at Davos hits back at critics, says not his car's fault people lost money
▼ + stars: | 2023-01-19 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

The orange Mercedes was parked along the Promenade in Davos. Nobody in the vicinity saw who parked it there. DAVOS, Switzerland — The mystery of the orange bitcoin car, that was first spotted by CNBC on Monday at the Alpine resort of Davos, Switzerland, has been solved and the owner is not impressed with its critics. But since the crypto market slide of 2022, there are far fewer crypto firms with flashy store fronts at Davos. CNBC asked people in the vicinity on Monday whose car it is but nobody saw who parked it.

☆ Watch two moments from a 2016 Tesla self-driving ad that are totally staged, according to a senior engineer
▼ + stars: | 2023-01-18 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +3 min

A senior Tesla engineer testified in a deposition that the company staged a 2016 self-driving ad. In Tesla's self-driving ad from 2016, the car is able to stop at a red light. In the self-driving video, the Tesla is able to accelerate forward when the traffic light turns green. Tesla's Autopilot system is an "advanced driver assistance system" that "reduces your overall workload as a driver," according to the company website. The electric carmaker's autopilot system has come under scrutiny from regulators and customers.

☆ Madagascar solar firm secures funding to connect 50,000 households
▼ + stars: | 2023-01-17 | by ( Duncan Miriri | ) www.reuters.com time to read: +2 min

NAIROBI, Jan 17 (Reuters) - Madagascar's WeLight, an off-grid solar company, has secured 19 million euros ($20.57 million) to connect 50,000 households to electricity in the next two years, it said on Tuesday. Off-grid solar power, spearheaded by a variety of start-ups, has gained in popularity in Africa because it can affordably connect millions of homes which are left off mainstream electricity grids to clean power. The project is being financed by the European Investment Bank (EBI), EDFI ElectriFI and Triodos Investment Management, WeLight said in a joint statement. WeLight, which is owned by Madagascar's Axian Group, Norwegian investment fund Norfund and Sagemcon, already provides solar power to 9,000 rural Malagasy households. WeLight builds small solar power plants, storage units, distribution lines and installs a meter at each customer's premises, offering round the clock electricity, it said.

According to the document, Aramco's investment would be used to support development of decarbonization technologies for gasoline engines. SUBJECT TO BOARD APPROVALSThe oil company's deal with Geely and Renault still needs approval by the boards of the automakers, one of the people said. For Geely, the deal with Renault extends its pattern of building partnerships to expand beyond China. In that kind of arrangement, gasoline engines could be designed to operate in an "exceptionally efficient mode," one of the sources said. Geely has a previously announced a hybrid gasoline engine development deal with Mercedes-Benz (MBGn.DE) and holds a stake in the German automaker.

☆ Taliban officials praise Afghanistan's first sports car. It has an engine from a 2000 Toyota Corolla.
▼ + stars: | 2023-01-16 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

The car's power relies on a modded 2000 Toyota Corolla engine, according to a Tolo News report. The Taliban's spokesperson shared a video of the car, called Mada 9, doing donuts in the snow. There are no videos of the car moving at high speeds or making difficult maneuvers outside of the video shared by the Taliban's spokesperson. Mohammad Riza Ahmadi, the designer of Mada 9, told Tolo News that he hopes the car will be a beacon for the embattled country. Ahmadi, the car designer, told Tolo News that the car has received offers but is not for sale.

☆ Health insurance upstarts that grew fast while bleeding money now say they want to turn a profit. They're raising premiums, exiting markets, and leveraging their size to get there.
▼ + stars: | 2023-01-13 | by ( ) www.businessinsider.com time to read: +6 min

Newly public health insurers Bright, Clover, and Oscar historically have prioritized fast growth. Now that it's become harder to raise capital from investors, the insurers Bright Health, Clover Health, and Oscar Health have shifted their strategies toward making money. Bright Health, in particular, was forced to take extreme measures that will see it cover members in just one state this year, after serving people in 17 states in 2022. Here's what Bright, Clover, and Oscar said they're doing to reach a profit, from raising the premiums of their health plans to exiting the markets they once bet big on. Clover slashed its participation in a federal programClover Health CEO Andrew Toy Clover HealthClover also slashed its footprint in a major program to bring down costs.

☆ How to set up your home to charge an electric car — and what you should expect to pay
▼ + stars: | 2023-01-12 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

People new to the world of electric cars may wonder what it takes to set up home charging. You can charge a car at home in just a few hours by adding a Level 2 charger to your garage. This article is part of a series called Getting Ready for Electric, a practical guide to buying your next EV. Going electric introduces a whole new element to car ownership: home charging. When it comes to choosing a charger, Sapp says going with the model recommended by the auto manufacturer is "a safe bet."

☆ Oscar Health CEO Mario Schlosser shares how the health-insurance upstart plans to finally turn a profit after years of losses
▼ + stars: | 2023-01-12 | by ( ) www.businessinsider.com time to read: +7 min

Oscar Health has bled money since it was founded more than a decade ago. Oscar Health, the 10-year-old health insurer, has never turned a profit. In an interview with Insider in November, Schlosser said Oscar had already done the legwork to turn a profit. Oscar is doing a better job at lowering patients' medical costs and is raising the prices of its health plans, he said. In 2013, Oscar met with outside actuaries to price its first health plans, Schlosser said.

☆ Canada, Mexico win auto rules trade dispute with U.S.
▼ + stars: | 2023-01-11 | by ( Steve Scherer | ) www.reuters.com time to read: +3 min

"The decision is good for Canada and Mexico," said Flavio Volpe, president of Canada's Automotive Parts Manufacturers' Association. The decision is "disappointing," said Adam Hodge, a spokesperson for the United States Trade Representative's office, adding that the decision could result in "fewer American jobs". The USTR will now "engage Mexico and Canada on a possible resolution to the dispute," Hodge said. The decision was announced amid a separate USMCA dispute centered on energy that has pitted the United States and Canada against Mexico. The United States said "core part" content should not be rounded up when determining the content of the entire car.

☆ BMW latest concept car looks straight out of a cartoon
▼ + stars: | 2023-01-08 | by ( Aaron Mok | ) www.businessinsider.com time to read: 1 min

Using the controls on the panel, drivers can select up to five windshield displays, from driving-related information all the way to graphics that cover the car's surroundings to "gradually fade out reality." BMW did not say whether it'll work while the car is in motion. By adjusting the car's sensor panels, drivers can choose to display a mixed reality simulation through the windows. Courtesy of BMW. Source: BMW

☆ Tesla owners in China protest against surprise price cuts they missed
▼ + stars: | 2023-01-07 | by ( ) www.reuters.com time to read: +5 min

[1/3] People protest at a Tesla showroom in Chengdu, Sichuan, China, released January 6, 2023 in this picture obtained by Reuters from social media. After Friday's surprise discounts, Tesla's EV prices in China are now between 13% and 24% below their September levels. 'RETURN THE MONEY'Other videos appearing to be of Tesla owners protesting were also posted to Chinese social media platforms on Saturday. Tesla does not plan to compensate buyers who took delivery before the most recent price cut, a spokesman for Tesla China told Reuters on Saturday. Analysts have been positive about the potential for Tesla's price cuts to drive sales growth at a time when it is a year from announcing its next new vehicle, the Cybertruck.

☆ A Tesla owner said self-driving mode got him home 'flawlessly' when he was 'probably drunk'
▼ + stars: | 2023-01-07 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

The owner of a Tesla said he used Full-Self Driving mode to get him home just after Christmas. On Twitter Spaces, he admitted being drunk and claimed the system drove him home "flawlessly." "I admitted the other day, I was a little bit tipsy after Christmas," the driver, whose Twitter handle is @denguyen73, said during a Twitter Spaces called "$TSLA - Musk Metldown Marathon." The probe is considering whether Tesla's claim to offer "full-self driving capabilities" defrauds consumers. These incidents often appear to occur when drivers use Tesla's Autopilot, which automatically accelerates, brakes, and steers on highways.

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