Car manufacturer unveils electric transformation of iconic vintage model: 'This project has been years in the making'
Restomods are a growing part of the electric vehicle market. For those with the means, it's possible to combine the rugged aesthetics of classic cars with the energy efficiency and high performance of an electric vehicle.
Two companies are joining forces to launch a limited run of revamped Ford Broncos. As one of the makers, Icon, explained in the launch video, "this project has been years in the making." It was a combination of waiting for technology to reach that "sweet spot" and years of research and development.
As Inside EVs reports, with a sticker price of $449,000, it's not for the mass market yet, but it could lay the foundations for future developments. The futuristic look of an EV is not everyone's cup of tea, so restoring classic cars is a good way to broaden the appeal. It also shows that consumers can still have the best of both worlds.
While cost may be an issue for this particular car's potential customers, EVs are actually much cheaper and easier to run than a standard gas-powered vehicle. EVs require very little maintenance and cost, much less to charge as opposed to filling up with gas.
The extent of the savings will depend on several factors, but the U.S. Department of Energy suggests an average of up to $2,200 per year. Of course, those savings will be even higher if charged with solar. EnergySage's guide shows how to get the best deal, and could help you save up to $10,000 in installation costs.
The other massive plus for electric vehicles is the reduced environmental impact compared to gas-powered cars. Though the manufacture of an EV involves lithium mining and has a slightly larger initial pollution footprint, that evens out within the first year. A report by Reuters suggests that the break-even comes after about 13,500 miles. The longer the car stays on the road, the bigger the savings in harmful emissions. Adding more customizable options like this will only help speed up EV adoption in the long run.
If you were going to purchase an EV, which of these factors would be most important to you?
Cost
Battery range
Power and speed
The way it looks
Click your choice to see results and speak your mind.
Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
20 hours ago
- Yahoo
Department of Energy cancels 24 awards issued to businesses
Downtown Birmingham viewed from Red Mountain. Two companies in the area will lose $75 million each after their grant funding was eliminated by the U.S. Department of Energy. (John Coletti/The Image Bank) The U.S. Department of Energy announced Friday the cancellation of 24 awards issued by the Office of Clean Energy Demonstrations that impacts two businesses in Alabama. American Cast Iron Pipe Company and United States Pipe and Foundry Company, LLC were both set to receive $75 million in grant money from the Department of Energy but will no longer receive the funding in light of the grants getting canceled. 'While the previous administration failed to conduct a thorough financial review before signing away billions of taxpayer dollars, the Trump administration is doing our due diligence to ensure we are utilizing taxpayer dollars to strengthen our national security, bolster affordable, reliable energy sources and advance projects that generate the highest possible return on investment,' said U.S. Secretary of Energy Chris Wright said in a DOE press release. 'Today, we are acting in the best interest of the American people by cancelling these 24 awards.' A message was left with both companies Friday seeking comment. According to a press release, American Cast Iron Pipe Company made it to the negotiation stage of the awards process and was planning to use the funding to replace single cupola furnaces with four coreless induction furnaces. This would have reduced the facility's CO2 emissions by an estimated 62% and the melting/holding process CO2 emissions by 95%. The U.S. Pipe and Foundry Company said in a press release that they planned to use the money for Phase 1 of U.S. Pipe's Iron Electric Induction Conversion project. The project involved replacing a coke-fired furnace with electric induction melting furnaces and would have resulted in an 'estimated 73% reduction in carbon intensity at the Alabama Works ductile iron pipe production facility.' Of the 24 awards given, nearly 70% were signed between Election Day last year and Jan. 20. By cancelling the awards, the Department of Energy is generating $3.6 billion in savings for Americans. The DOE said the awards have been terminated because they 'failed to advance the energy needs of the American people, were not economically viable and would not generate a positive return on investment of taxpayer dollars.'
Axios
a day ago
- Axios
DOE scuttles $1B in Texas clean energy funding
The U.S. Department of Energy has canceled $3.7 billion in clean energy projects nationwide, including more than $1 billion tied to facilities in Texas. Why it matters: The elimination of the 24 projects created under the 2021 bipartisan infrastructure law is among the biggest and most specific cases yet of Trump 2.0 officials pulling the plug on the Biden administration's unprecedented subsidies for low-carbon energy. Context: The department was aiming to close the Office of Clean Energy Demonstrations and terminate nearly half its awarded funding, Axios Pro reported last month. Driving the news: The terminated support was aimed mostly at carbon capture and various other "decarbonization initiatives," DOE said in a statement. DOE alleged that Biden officials "failed to conduct a thorough financial review" and noted that 16 of the awards were "signed" between the election and President Trump's inauguration. Zoom in: Texas saw four projects terminated, including three near Houston: Calpine Texas CCUS Holdings, Baytown – $270 million. Exxon Mobil Corporation, Baytown – $331.9 million. Orsted Star P2X, Chambers County – $99 million. Eastman Chemical Company, Longview – $375 million. What they're saying: "Today, we are acting in the best interest of the American people," U.S. Secretary of Energy Chris Wright said in the announcement. The DOE said in the statement the projects "were not economically viable and would not generate a positive return on investment of taxpayer dollars." The other side:"The abrupt termination of $3.7 billion in clean energy investment is shortsighted and malicious," said Rep. Marcy Kaptur, the top Democrat on the House Appropriations Committee's energy panel. What we're watching: Other projects that could be on the chopping block.
Yahoo
a day ago
- Yahoo
ICON Public Limited Company's (NASDAQ:ICLR) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
ICON (NASDAQ:ICLR) has had a rough three months with its share price down 31%. But if you pay close attention, you might find that its key financial indicators look quite decent, which could mean that the stock could potentially rise in the long-term given how markets usually reward more resilient long-term fundamentals. In this article, we decided to focus on ICON's ROE. Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Put another way, it reveals the company's success at turning shareholder investments into profits. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. ROE can be calculated by using the formula: Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity So, based on the above formula, the ROE for ICON is: 8.0% = US$758m ÷ US$9.5b (Based on the trailing twelve months to March 2025). The 'return' is the profit over the last twelve months. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.08. Check out our latest analysis for ICON Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes. When you first look at it, ICON's ROE doesn't look that attractive. Yet, a closer study shows that the company's ROE is similar to the industry average of 8.9%. Particularly, the exceptional 24% net income growth seen by ICON over the past five years is pretty remarkable. Considering the moderately low ROE, it is quite possible that there might be some other aspects that are positively influencing the company's earnings growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio. We then compared ICON's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 3.8% in the same 5-year period. Earnings growth is a huge factor in stock valuation. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Has the market priced in the future outlook for ICLR? You can find out in our latest intrinsic value infographic research report. ICON doesn't pay any regular dividends currently which essentially means that it has been reinvesting all of its profits into the business. This definitely contributes to the high earnings growth number that we discussed above. Overall, we feel that ICON certainly does have some positive factors to consider. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
