Latest news with #carsharing
CNA
04-06-2025
- Automotive
- CNA
Dutch car sharing firm adds Renault EVs capable of powering local grid
LONDON/PARIS :Dutch car sharing firm MyWheels will plug in the first of 500 grid-connectable Renault EVs to its fleet in the Netherlands this week, expanding the number of vehicles in Europe capable of strengthening the power grid as the technology gains traction. Vehicle-to-grid technology, known as V2G, allows electric vehicles to store power and provide it to the electricity grid at times of peak demand. The technology has been available for several years but only recently became commercially viable after the introduction of smart charging technology and batteries able to sustain intensive usage. The rollout by MyWheels will be the largest V2G car-sharing scheme in Europe and the largest addition of V2G-enabled cars in the region. It follows growing concern about grid stability after a major blackout in Spain and Portugal this year, and sabotage to power supply in southern France during this year's Cannes film festival, which have triggered more interest in a technology that can help balance fluctuating supply and demand, said Kees Koolen, an investor in We Drive Solar, the Dutch producer of the special chargers used in the project. 'It feels like we're at a tipping point,' said Koolen, who estimated that the project in the Dutch city of Utrecht has cost around 100 million euros ($114 million) to develop. The global V2G market was worth $3.4 billion in 2024, according to Global Market Insights, and is expected to grow by 38 per cent annually between 2025 and 2034 to reach $80 billion. The Netherlands is an early adopter of V2G technology due to ambitious plans to electrify its transport and heating systems while also moving to renewables. Japan's Nissan has also recently supplied dozens of V2G-enabled Leaf and Ariya models to France and Spain. MyWheels says 500 of Renault's V2G-compatible cars, including its electric R5, will be on the road by next year. When not driving, the cars will be plugged into We Drive Solar's bidirectional chargers and the scheme's operators will be paid for electricity absorbed and sold to the grid. Grids have become increasingly unstable with growing electrification and as more intermittent renewable energy is fed into the system. 'Our research shows that vehicle-to-grid technology could allow the growing electric vehicle fleet to become a significant asset to the grid, with vast storage potential locked up in electric vehicles,' said Madeleine Brolly, advanced transport analyst at Bloomberg New Energy Finance. A key challenge ahead will be standardisation across manufacturers, which will be needed for it to be adopted at scale, she added.
Reuters
04-06-2025
- Automotive
- Reuters
Dutch car sharing firm adds Renault EVs capable of powering local grid
LONDON/PARIS, June 4 (Reuters) - Dutch car sharing firm MyWheels will plug in the first of 500 grid-connectable Renault EVs to its fleet in the Netherlands this week, expanding the number of vehicles in Europe capable of strengthening the power grid as the technology gains traction. Vehicle-to-grid technology, known as V2G, allows electric vehicles to store power and provide it to the electricity grid at times of peak demand. The technology has been available for several years but only recently became commercially viable after the introduction of smart charging technology and batteries able to sustain intensive usage. The rollout by MyWheels will be the largest V2G car-sharing scheme in Europe and the largest addition of V2G-enabled cars in the region. It follows growing concern about grid stability after a major blackout in Spain and Portugal this year, and sabotage to power supply in southern France during this year's Cannes film festival, which have triggered more interest in a technology that can help balance fluctuating supply and demand, said Kees Koolen, an investor in We Drive Solar, the Dutch producer of the special chargers used in the project. 'It feels like we're at a tipping point,' said Koolen, who estimated that the project in the Dutch city of Utrecht has cost around 100 million euros ($114 million) to develop. The global V2G market was worth $3.4 billion in 2024, according to Global Market Insights, and is expected to grow by 38% annually between 2025 and 2034 to reach $80 billion. The Netherlands is an early adopter of V2G technology due to ambitious plans to electrify its transport and heating systems while also moving to renewables. Japan's Nissan has also recently supplied dozens of V2G-enabled Leaf and Ariya models to France and Spain. MyWheels says 500 of Renault's V2G-compatible cars, including its electric R5, will be on the road by next year. When not driving, the cars will be plugged into We Drive Solar's bidirectional chargers and the scheme's operators will be paid for electricity absorbed and sold to the grid. Grids have become increasingly unstable with growing electrification and as more intermittent renewable energy is fed into the system. 'Our research shows that vehicle-to-grid technology could allow the growing electric vehicle fleet to become a significant asset to the grid, with vast storage potential locked up in electric vehicles,' said Madeleine Brolly, advanced transport analyst at Bloomberg New Energy Finance. A key challenge ahead will be standardisation across manufacturers, which will be needed for it to be adopted at scale, she added.
The Independent
02-06-2025
- Automotive
- The Independent
Space freed up by car clubs could nearly cover Hyde Park, analysis finds
Space almost equivalent to the size of London's Hyde Park is freed up by short-term car rental schemes, according to a report. Analysis by shared transport charity CoMoUK found non-corporate users of UK car clubs last year said they had sold or deferred purchasing a total of nearly 120,000 vehicles since they joined. Based on the typical size of parking spaces, these private cars would have occupied an area exceeding 138 hectares. Hyde Park is about 142 hectares. The analysis also found each car club vehicle replaces an average of 27 private cars. UK car clubs open to the public had 307,437 active users last year, up 1% from 2023. Their fleet size in 2024 was 4,383 vehicles, a 3% decrease from the previous 12 months. The schemes give people access to cars without the costs or other obligations of ownership. Most operate on a membership basis with annual or monthly fees, plus per mile and per hour charges for using cars on a pay as you go basis. Separately, some companies give their employees access to corporate car clubs for business and personal travel. CoMoUK chief executive Richard Dilks said: 'Car clubs provide hassle-free, inclusive and affordable access to cars for journeys when they are really needed, so it is no wonder that they are proving more and more popular. 'Our research shows that car clubs replace private cars with a much smaller number of more efficiently-used vehicles. 'As well as improving air quality and cutting traffic congestion, the reduced need for private car storage frees up an astonishing amount of space which can be used for other purposes. 'In London, for example, this space could be used to provide homes for approximately 6,000 people.' Mr Dilks added that 'much more could be done to encourage car clubs to thrive', and he called on governments and local authorities to 'go further to foster environments where car clubs can grow'.
Independent Singapore
30-05-2025
- Automotive
- Independent Singapore
Shared car was being driven to repair shop when it caught fire: GetGo
SINGAPORE: A shared car that caught fire along Upper Changi East Road on Thursday (29 May) was not available for public rental at the time of the incident, car-sharing company GetGo clarified in a statement today (30 May). The grey vehicle, which bore GetGo's branding, was seen engulfed in flames near a bus stop, prompting concern among members of the public and users of the popular car-sharing platform. According to a video shared by SG Road Vigilante, the car's trunk was open and heavy smoke and flames were visible. The driver's side of the vehicle appeared extensively burned. In response to media queries, GetGo confirmed that the vehicle involved was not listed for rental on its platform. Instead, the car was being driven by a staff member from an authorized repair shop at the time of the fire. The vehicle had been undergoing servicing. No one was injured in the incident, a GetGo spokesperson confirmed, adding that investigations into the cause of the fire are currently underway. The Singapore Civil Defence Force (SCDF) said it was alerted to the incident at around 11:05am on 29 May. Firefighters were deployed to the scene and successfully extinguished the blaze using water jets. Founded in 2021, GetGo is one of Singapore's largest car-sharing platforms, offering users access to vehicles through a mobile app. Its pay-per-use model appeals to drivers who prefer not to bear the high costs of car ownership in Singapore, including the steep Certificate of Entitlement (COE) prices. As Singapore moves toward a 'car-lite' future, platforms like GetGo have grown rapidly. These services offer flexibility, especially for residents who require occasional access to a car without the commitment of long-term ownership. While Wednesday's incident may have alarmed some, GetGo's swift clarification has helped to reassure users that the vehicle was not in circulation for customer use.
The Sun
19-05-2025
- Automotive
- The Sun
Pay-as-you-go car insurance and is it CHEAPER than normal cover? Your questions answered
DRIVERS are increasingly taking out pay-as-you-go style car insurance - but how does it work and is it worth it financially? Temporary car insurance policies let you insure a vehicle for a shorter period of time - and their use is on the rise. 1 A host of temporary car insurance providers have seen sales spike since 2020. GoShorty said it saw a 50% increase in take up of these types of policies between 2023 and 2024. Cuvva said it saw a rise of 30% on average year-on-year for the last five years and Veygo by Admiral a 28% hike between 2023 and 2024. Meanwhile, price comparison site GoCompare also found the number of searches for temporary car insurance on its website soared by 262% between March 2021 and March 2025. Drivers will often share vehicles with friends or family and just pay for insurance on a pay as you go basis. Tom Banks, car insurance spokesperson for GoCompare, said: "There are a number of factors which could be contributing to this rise - typically people take out temporary car insurance policies when they are buying or selling a car, taking one for a test drive, or borrowing a vehicle from a family member or friends. "In recent years, the cost of living crisis has also played a role, with car-sharing among friends or family members a popular way to save money while still having access to a car." But how exactly does temporary car insurance work and is it always the best option? Here, we take you through everything you need to know. What is temporary car insurance? Temporary car insurance, also known as short-term car insurance, offers you short-term cover for driving your vehicle or someone else's. Five ways to cut your insurance costs You can buy policies covering you for as little as an hour, while some will cover you for up to a month. Some will cover you for longer. A host of insurers offer temporary cover including Cuvva, Day Insure by Aviva and Tempcover. You set the length of your cover on a temporary car insurance policy when you take it out. Once it expires, you won't be able to legally drive the vehicle on a public road. However, most insurers will let you extend the length of the policy for a fee. Temporary car insurance policies usually offer you fully comprehensive cover, which means your car and yourself are protected, as well as other drivers' and their vehicle in case of an accident. However, some only cover you for third party, fire and theft while others offer just third party protection. Third party protection is the legal minimum level of of car insurance cover required. It covers any damage you cause to someone else, their car or property but not yourself or your own vehicle. How much you pay for a temporary car insurance policy depends on the same variables that apply when buying all car insurance, like your age, occupation and where you live. Temporary car insurance typically won't cover you to drive a hired or rented vehicle either. What are the pros and cons? The obvious pro to temporary car insurance is that it gives you cover for a smaller period of time and you don't have to pay for an annual policy. This is ideal if you need to borrow someone's car for the weekend or are looking to go away on a short road trip. However, there are some cons that come with them, says Iwan Doherty, senior researcher at Fairer Finance, starting with cost. He said: "A two-week trip can often cost 25% of an annual premium, depending on the driver, so affordability over a long period is a major disadvantage." Two other pitfalls to these types of car insurance are cover limits and excesses. A cover limit is the maximum monetary sum the insurer will pay out for a claim. The excess is the amount you agree to pay out of your own money towards the cost of a claim. Iwan added: "Short-term car insurance won't provide features like a courtesy car, and a significant proportion of the market offers no personal accident cover or cover for stolen or lost keys. "An annual policy will provide more cover. "Short-term policies have high excesses, so in the event of a crash, you will pay a significant amount of money out of your pocket. "£500 is a standard excess for short-term policies, though it varies in both directions." Put simply, short-term car insurance is worthwhile for one-off uses of a vehicle over a short period. How does temporary car insurance compare to an annual policy? We analysed how much someone would pay for a month's cover through a temporary car insurance policy compared to the monthly cost if paying for a standard policy annually. We used the same car registration and personal details including job title and address, with an excess of £250, when applying for quotes. We received a quote from the temporary car insurance arm of a major insurer, for 30 days coverage, of £245. Meanwhile, a week's worth of temporary car insurance cover was £84 - or £336 a month. However, an annual quote from the same firm, for the most basic level of cover was £426 - £35.50 a month. Of course, the differences in cost you will pay for temporary compared to annual cover will vary. But, the analysis shows you will likely have to fork out much more if you're taking out temporary cover multiple times throughout the year as opposed to taking out an annual policy. What are the alternatives? Pay-per-mile policies are one option - these charge based on the actual number of miles you drive. They will only really be worth your time if you're likely to keep mileage down though. Iwan explained: "For sharing a car with your partner or housemate across the year, pay-as-you-go insurance is probably not the best option. "The market average premium for a policy with two drivers is only around £200 higher than the average premium for those with one driver, according to Consumer Intelligence, meaning even limited usage across multiple periods will be cheaper by adding a 2nd driver to an existing car insurance policy." What is car insurance? Consumer Reporter Sam Walker reveals all you need to know about the basics... Car insurance pays out if your vehicle is stolen, damaged, catches on fire or is involved in an accident. As a minimum, it protects you against any damage you case to other road users, the public or their property - these are called third parties. You only need to claim on your car insurance when an accident is your fault. If another motorist is to blame, their insurance should pay out instead. Car insurance, unlike home insurance, is a legal requirement and if you don't have it you can be fined up to £1,000. You can also have your vehicle seized and destroyed. However, you don't need to insure your car if it is classed as "off-road", or holds a statutory off road notification (SORN). The vehicle has to be kept on private land and not a public highway though.
