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EV startups are a dime a dozen and the latest is California’s Elation Hypercars.

Created by Carlos Satulovsky and Mauro Saravia, Elation intends to become the first company to produce an electric luxury hypercar in America.

Elation’s first model is dubbed the Freedom and it was developed thanks to the “brightest minds in the Argentinean racing industry.” While that sounds slightly odd, the company said their team of engineers has worked in “Formula One, at the 24 hours of Le Mans, and several other European racing divisions.”

Also Read: Pininfarina’s Battista Is A 1,874 HP Electric Hypercar Gunning For Glory

The car certainly looks the part as it features a striking exterior which is vaguely reminiscent of the Lotus Evija. The company didn’t go into many specifics, but the renderings suggest the Freedom will have a carbon fiber front splitter, a ventilated nose and aerodynamic side skirts. We can also see gullwing doors, an active rear wing and a massive diffuser.

Moving into the cabin, there’s a “fighter-jet inspired cockpit” with a digital instrument cluster, a minimalist center stack and what appears to be exposed carbon fiber. The company also said customers can personalize the cabin with premium leather, precious metals and gemstones.

The Freedom is slated to ride on a carbon fiber monocoque chassis which weighs approximately 180 lbs (82 kg) and incorporates a T-shaped lithium-ion battery pack. The latter will be available with capacities of 100 and 120 kWh, they will allow for ranges of around 300 – 400 miles (483 – 644 km).

The base model is slated to have three electric motors that produce a combined output of 1,414 hp (1,054 kW / 1,434 PS). Elation also plans to offer a quad motor variant with around 1,903 hp (1,419 kW / 1,929 PS). One of these, presumably the latter, will be able to accelerate from 0-62 mph (0-100 km/h) in approximately 1.8 seconds before hitting a limited top speed of 260 mph (418 km/h).

If electric vehicles aren’t your thing, the company is also promising a Freedom Iconic with all-wheel drive and a 5.2-liter V10 engine which is paired to a seven-speed S-tronic dual-clutch gearbox. The powertrain is apparently sourced from Audi and the company says it will produce 750+ hp (559+ kW / 760+ PS) and 490 lb-ft (664 Nm) of torque. This setup will allegedly enable the car to hit 62 mph (100 km/h) in 2.5 seconds, before topping out at 240 mph (386 km/h).

The Freedom has a base price of $2 (£1.5 / €1.7) million, while the Freedom Iconic will begin at $2.3 (£1.7 / €1.9) million. Unfortunately, there’s no word on when the model will be launched and there’s no guarantee the Freedom will be anything more than some fancy renderings.

 

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GM’s OnStar has been keeping drivers and their vehicles safe for nearly 25 years, and now they’re branching off into the insurance business.

Dubbed OnStar Insurance, the new offering promises to leverage the company’s “unique understanding” of GM vehicles to provide a “secure, fair, personalized and easy-to-use digital insurance experience for drivers.”

The insurance will be launched later this year and initially available to GM employees who reside in Arizona. However, it be offered to additional customers and the general public in early 2021.

Also Read: GM Highlights Two Decades Of OnStar Connectivity

While GM is adopting a slow and cautious rollout, the company has big plans for OnStar Insurance in the future. In the next few years, they imagine policyholders who have an accident can be immediately connected to dealers who can provide “speed-of-light damage assessments, estimates and loaner car arraignments.” The ultimate goal is to get you back into your own car as soon as possible.

The company also envisions leveraging OnStar technology to promote safer driving habits. GM said this will include “proactive recommendations” which could potentially earn customers discounts.

This is one of the more interesting aspects about OnStar Insurance as the company can offer personalized plans based on your driving habits and how far you travel. The company alluded to this as they promised to take “biased judgement out of insurance shopping by focusing on factors within the customer’s control: individual vehicle usage and rewarding smart driving habits that benefit road safety.”

In a statement, OnStar Insurance Services President Andrew Rose said “We aim to be an industry leader, offering insurance in an innovative way.” Rose added, “GM customers who have subscribed to OnStar and connected services will be eligible to receive discounts, while also receiving fully-integrated services from OnStar Insurance Services.”

 

Tesla saw its market value rise by more than $40 billion after S&P Dow Jones Indices confirmed the carmaker’s addition to the S&P 500 Index from December 21.

Tesla’s shares gained 12 percent in value, giving the company a market capitalization of over $440 billion and making it potentially the biggest ever addition to the index.

This also boosted Elon Musk’s wealth by $15 billion to $117.5 billion, according to Bloomberg, putting the Tesla CEO on track to become the world’s third richest person, surpassing Facebook’s Mark Zuckerberg. It’s estimated that Musk gained $90 billion this year alone.

Read Also: Elon Musk Calls COVID-19 Tests ‘Bogus’ After Testing Twice Positive And Twice Negative On The Same Day

Tesla will join companies like Apple, Amazon, Google, Microsoft and Johnson & Johnson in the S&P 500 index. Market analysts said to Reuters that the run in to Tesla’s addition next month may see more speculative buying.

S&P DJI said that the company to be replaced by Tesla in the 500 index will be announced on a later date. The EV maker will join the S&P 500 as one of the 10 most valuable companies in December.

Tesla is expected to reveal the production version of the Cybertruck next month, which, according to Musk will feature “small improvements” over the prototype and will “look better”.

Over the weekend, Musk twitted that he most likely caught a moderate case of COVID-19 after questioning the validity of rapid antigen tests. He was quickly criticized for not knowing that these tests are known to be less accurate than the PCR tests.