gremlin/E Getty Images
Welcome to the December 2022 issue of Electric Vehicle [EV] corporate news.
In December 2022, global sales of plug-in electric cars were again very strong despite all the negative exposure around Tesla and China.
Global sales of plug-in electric cars ended in November 2022 with around 1 million sales (not yet updated) for the month, up 50% from November 2021, with an estimated market share of 16% (not updated) by November 2022, and 13% YTD (not updated).
Note: ~72% (not recently updated) of electric car sales so far this year are one hundred percent battery electric cars (BEVs), with the rest being hybrids.
Sales of plug-in electric cars in China were 625,000 sales in November 2022 (the second most productive month on record), up 50% from November 2021 sales. The share of electric car market in China in November was 35% and 30% year-on-year date.
Sales of plug-in electric cars in Europe were 281,000 in November 2022, up 26% year-on-year, reaching a market share of ~28% and 22% so far this year. Norway achieved a percentage of 89. 3%, Sweden 74. 6%, the Netherlands 35%, Germany 39. 4%, France 24% and the United Kingdom 27. 7% in November 2022.
Sales of plug-in electric cars in the U. S. UU. se reported via CleanTechnica, indicating that electric cars reached 6. 1% of U. S. car sales. U. S. in the third quarter of 2022. quarter 2022.
Note: Previous sales come with soft advertising vehicles.
Note: Thanks to Jose Pontes and the CleanTechnica Sales team for their work in compiling all the car sales indexed above and the charts below.
Global sales of plug-in cars through the automotive organization from January to November 2022 (source: CleanTechnica)
Clean technique
EV sales will take off from 2022 as affordability kicks in
The graph below aligns with our studies that electric car sales will take off after 2022.
Mining. com courtesy of DoI, me
2022 – BloombergNEF Forecast for Global Electric Car Sales
BloombergNEF
BloombergNEF
According to BloombergNEF forecasts (by mid-2022), “sales of plug-in electric vehicles will increase from 6. 6 million in 2021 to 20. 6 million in 2025” and “by 2025, plug-in electric cars will account for 23% of new passenger vehicle sales worldwide, just under 10% in 2021. “
2022: BloombergNEF’s long-term forecast for electric cars (global share of electric cars will exceed 70% by 2040)
BloombergNEF
BloombergNEF forecasts a share of the global passenger electric vehicle market of ~40. 4% in 2030 and 75. 3% in 2040 (published June 2022)
BloombergNEF
On the fifth of December, the Evening Standard reported: (on the UK car market)
The sharp increase in demand for electric cars is helping the new car market grow by 23. 5% in November. A surge in Tesla sales has helped electric cars succeed in a third of the overall car market.
On December 7, Bloomberg reported:
Apple is delaying the launch of the self-driving car. Apple has scaled back its ambitious autonomous driving plans for its long-endurance electric vehicle and pushed back the car’s target launch date by about a year to 2026, according to other people familiar with the matter.
On December 13, Reuters reported:
German automotive giants and the Asian kings of batteries: an alliance made in Hungary. . . Investment in Hungary’s automotive industry is governed by 3 countries: Germany, a champion car manufacturer, and China and South Korea, leaders in batteries for electric vehicles far ahead of Europe. “Cathodes, anodes, separators, junction lines, the total battery chain is there,” said Dirk Woelfer of the German-Hungarian Chamber of Commerce in Budapest. “It’s one foot on Europe’s doorstep. “
On December 14, Seeking Alpha reported:
Tesla, Rivian, FREYR and Ford stand out amid a bumpy trajectory for electric vehicles. . . For the electric vehicle sector, Morgan Stanley estimated global EV sales at 9. 7 million sets of electric vehicles and global EV penetration at 11. 8% in 2023e to 10. 1% in 2022. For the U. S. , the company expects EV sales of 750,000 sets of electric vehicles and U. S. EV penetration of 5. 0% in 2023, up from 4. 2% in 2022. Looking even further, EV forecasts for 2025-2030 have also been lowered.
On December 15, Automotive News reported:
California approves a $2. 9 billion investment to double the state’s car chargers. The investment will result in 90,000 new vehicle chargers across California, more than double the 80,000 chargers already installed, to boost the state’s vehicle charging and hydrogen refueling goals by 2025.
On Dec. 15, BNN Bloomberg reported, “Macron implores Europe to conform to Biden’s subsidy package. “
On December 16, Reuters reported:
Electric vehicles face mass-market leap. . . Auto industry invests more than $1 trillion in revolutionary shift from combustion engines to software-guided electric vehicles. . . European countries and California have set a 2035 deadline for end sales of new combustion passenger cars. . . Starting next year, a wave of new electric cars, from pickup trucks to mid-market SUVs and sedans, will hit major global markets. . . Industry leaders and forecasters disagree on how temporarily electric cars may take over part, let alone all of the global vehicle market… In China, the world’s largest auto market, battery-electric cars have captured around 21% of the market. In Europe, electric cars account for about 12% of total passenger car sales. But in the United States, the market share for EVs is only 6%. . . Among the barriers to EV adoption, industry executives and analysts said, a shortage of public fast-charging infrastructure and the emerging charging of electric vehicle batteries, driven by shortages of key fabrics and uncertainty around government subsidies that have spurred electric car purchases in major markets, including the United States. United States, China and Europe. . . By 2029, electric cars may make up just a third of the North American market and about 26% of cars produced worldwide, according to AutoForecast Solutions, a consulting firm. . . By 2025, the Array may only have another 74 electric vehicle models introduced in North America, McCabe said.
Note: The above forecast seems to be for 100% electric cars (BEVs) and they don’t come with hybrids. Trfinish Investing (BEV hybrid) forecasts are for a global market share of 70% of plug-in electric cars through the end of 2029. . Keep in mind that sales of plug-in electric cars in China are at 29% since the beginning of the year and that sales of plug-in electric cars in Europe are at 21% since the beginning of the year.
On December 20, Bloomberg reported:
Investment in electric vehicle charging . . . . . . . . Cumulative investment in electric vehicle charging appliances and services will reach $62 billion through the end of this year, adding $28. 6 billion invested in 2022 alone, up 228% from last year. Of the total investment in 2022, 61% is attributed to more than 600,000 public chargers built in China. Cumulative international investment is likely to surpass the $100 billion mark by 2023 if China maintains its relentless pace.
On December 21, the National Post reported:
Canada is preparing to order the sale of electric cars starting in 2026. One-fifth of all passenger cars, SUVs and trucks sold in Canada by 2026 will be required to run on electric power under new regulations proposed Wednesday by Environment Minister Steven Guilbeault. . . . . . By 2030, the mandate will succeed in 60% of all sales and by 2035, each and every passenger car sold in Canada will need to be electric.
On January 2, Electrek reported:
This country plans to give electric motorcycles loose to all existing motorcyclists. . . According to Museveni, the government will provide electric motorcycles in exchange for all Ugandans currently riding ICE-powered motorcycles. Uganda’s government will have to fund the big program itself, as reports have quoted the president allocating capital to “investors. “
BYD Company [ELLE: 002594][HK:1211](OTCPK:BYDDY) (BYDDF)
BYD recently ranked No. 1 globally with a market share of 18. 4% since the beginning of the year (until the end of November 2022). BYD ranked No. 1 in China with a market share of 30. 7% since the beginning of the year.
On December 5, Reuters reported:
China’s BYD will start promoting electric cars in Japan until early 2023. As the world’s largest electric vehicle maker ramps up its plan to sell or manufacture its cars in key markets.
On December 7, Bloomberg reported:
BYD plans a battery factory in the U. S. U. S. Refrains from Promoting Electric Cars After Biden’s Inflation Law. . . Li was speaking to Bloomberg from Chile, where BYD is in talks to enter a mining allowance and apply for permits to convert lithium into battery cathodes. BYD is also looking to invest in lithium allocations in Africa, acknowledging infrastructure gaps.
On December 8, BYD reported, “BYD leads vehicle deliveries to Israel in November. “
On December 12, InsideEVs reported:
BYD sold nearly 230,000 plug-in cars in November 2022. This is the ninth consecutive monthly sales record. BYD is not slowing down. In November, the automaker set its ninth consecutive monthly record for global wholesale sales (and its tenth record this year, as February alone was slightly slower than January).
On December 15, Seeking Alpha reported:
BYD Company is set to introduce a new electric vehicle logo in 2023. The new logo is expected to fill a “professional and personal” niche, bolstering the company’s efforts to attract buyers of high-end Yangwang cars.
On December 16, CleanTechnica reported:
BYD may lead EV deliveries and Tesla will overtake Toyota. Money of $ 5. 1 billion. Wall Street estimates put Tesla’s total sales in 2023 at around $120 billion, while its loose money is expected to reach $14. 1 billion. delivered in the same month last year. The automaker also delivered 116,027 plug-in hybrid electric cars in November.
On December 29, CarNewsChina reported:
New BYD Dolphin 2023 introduced in China, price starts at 16,700 USDArray. . . . . The BYD Dolphin 2023 is supplied with a frontArray permanent magnet synchronous motor. . . . . . with a corresponding natural electric cruise diversity of 420 km and 401 kilometers. Acceleration times from 0 to one hundred km/h are 10. 9 seconds and 7. 5 seconds respectively. The motor is mated to a 44. 9kWh BYD LFP Blade battery and supports 60kW fast charging.
Tesla Inc. (TSLA)
Recently, Tesla ranked No. 2 in the world with a global market share of 13% since the beginning of the year. Tesla is No. 3 in China with a market share of 7. 6% since the beginning of the year. Tesla remains the largest distributor of electric cars in the United States with about 65% market share share.
On December 7, Seeking Alpha reported:
Tesla enters Thailand with two models facing Japanese rivals. . . The electric vehicle giant plans to start selling its electric cars on Thailand’s online channels, with deliveries set to begin in early 2023.
On December 9, InsideEVs reported:
China: Tesla EV and exports increased in November 2022. The company’s wholesale shipments topped 100,000 for the first time in a single month.
On December 12, Tesmanian reported, “Tesla Giga Shanghai denies rumor of a Model Y production shutdown during the week of December. “
On December 23, Teslarati reported:
Tesla’s Megapack battery is depleted until the third quarter of 2024 Array. . . According to Tesla’s Q3 2022 update letter, the company’s energy garage deployments grew 62% year-over-year in the third quarter to 2. 1 GWh. . . . Tesla noted in its Q3 2022 update letter: “Demand for our garage products continues to exceed our source capacity. We are ramping up production at our committed 40 GWh Megapack plant in Lathrop, California, to meet developing demand. “
On December 26, Teslarati reported, “Tesla receives the Kuka line robots in the midst of Cybertruck preparations. “
On December 28, Teslarati reported:
Tesla China Corrects January 2023 Production Shutdown Claims: January 2023 Production Closure Report. . . In reaction to recent reports, a Tesla China representative shared a correction with local media Caijing. com. According to Tesla China, the dates provided in recent reports were inaccurate, as Giga Shanghai staff would only have an extra day off before and after the Chinese New Year. For context, the Chinese New Year for 2023 will fall on January 22, a Sunday, so staff will have a holiday from January 21 to 27, according to China Highlights.
On December 29, Seeking Alpha reported:
Tesla may simply “extend its lead” at the electric vehicle festival in 2023: Morgan StanleyArray. . . He cited “valuation, cash flow, innovation and load leadership” as the main reasons for maintaining a buy rating.
Investors can read our previous article on investing in trends: “Tesla: A Look at the Positives and Negatives,” in which we evaluate inventory as a purchase. the split equals $16. 67). Investors can also read Tesla’s most recent article Trend Investing (which looks at Tesla’s humanoid robot perspective) here.
Volkswagen Group [Xetra: VOW] (OTCPK: VWAGY) (OTCPK: VLKAF)/ Audi (OTCPK: AUDVF)/ Lamborghini/ Porsche (OTCPK: POAHF)/ Skoda/ Bentley
The Volkswagen Group was recently ranked No. 3 among the world’s best-selling electric car brands with a market share of 8% since the beginning of the year and first in Europe with a market share of 20. 2% since the beginning of the year.
On December 1, the Volkswagen Group announced: “The Volkswagen Group and the launch site of PowerCo SE are for the first gigafactory in North America. “Highlights include:
On December 2, the Volkswagen Group announced:
The new ID. 3 is ready and ready to go. Volkswagen will present the new ID. 3 to the public next spring.
The new Volkswagen ID. 3 arrives in spring with a marked exterior design
Volkswagen Group
On December 7, the Volkswagen Group announced: “Volkswagen is accelerating the transformation of the Wolfsburg plant. “Highlights include:
On December 9, the Volkswagen Group announced: “Volkswagen AG is creating the charging network in Europe with Elli. “Highlights include:
On December 13, the Volkswagen Group announced: “Volkswagen and Enel X Way launch Ewiva to build Italy’s high-power charging network. . . “
On December 14, Carsales reported:
Volkswagen will sell more electric cars than ICE cars in Australia within five years. The German brand’s first electric car is still a year away, but it says its EV tipping point will come in 2028.
On December 20, Electrek reported:
Audi is converting all plants to produce electric cars while phasing out gasoline-powered cars.
Wuling Automobile JV (SAIC 51%, GM 44%, Guangxi 5. 9%), SAIC Motor Corporation Limited [SAIC] [CH:600104] (SAIC Roewe, MG, Baojun, Maxus)
SGMW (SAIC-GM-Wuling Automobile) is number four international with a market share of 7. 4% since the beginning of the year. SAIC/GM/Wulin JV (SGMW) plus SAIC is second in China with a share of 10. 8% since the beginning of the year.
On December 12, GM’s SAIC-GM-Wuling (SGMW) reported:
SAIC-GM-Wuling launches Wuling Air EV in China. La joint venture of GM SAIC-GM-Wuling (SGMW) added the new Wuling Air EV to its electrified portfolio in China, along with Wuling Hong Guang MINIEV, Wuling Nano EV and Baojun KiWi EV. Four variants, adding two- and four-seater versions with a 300 km electric travel in CLTC conditions, are offered at a price between RMB 67,800 and RMB 82,800.
SAIC-GM-Wuling launches Wuling Air EV in China (source)
Wuling
Geely Automobile Holdings Ltd (OTCPK: GELYY, HK: 0175), Volvo Cars, Kandi Technologies Group (KNDI), Proton, Lotus, ZEEKR. (Note: Volvo Group is a separate company that manufactures trucks and buses)
Geely/Volvo was recently ranked number five in the global sales rating of electric car brands with a global market share of 5. 9% since the beginning of the year.
On December 1, Geely Automobile Holdings Ltd. reported:
Zeekr unaudited delivery volume in November 2022. . . It delivered 11,011 sets of cars in November 2022, an increase of approximately 447% year-over-year.
On 2 December, Volvo Cars announced:
Volvo Cars announces sales of 59,154 cars in November. . . Overall underlying demand for the company’s cars remains strong, with its diversity of purely electric cars and plug-in hybrid charging. The company’s Recharge style line accounted for 42. 2% of sales last month, with all-electric cars accounting for 19. 7% of total sales.
On December 12, Geely Automobile Holdings Ltd. reported:
Non-exempt transaction related to the acquisition of Xi’an Geely and similar ongoing non-exempt transactions proposed. acquisition agreement with Geely Manufacturing to obtain the total stake of Xi’an Geely for a monetary attention of RMB 382. 45 million.
On Dec. 12, Seeking Alpha reported, “Geely-owned Chinese vehicle manufacturer Zeeker has reportedly filed a $1 billion initial public offering application in the United States. “
On January 2, Car News China reported: “2023 Zeekr 001 with more than 1,000 km of diversity introduced in China, the value starts at 43,500 USD. “
Stellantis N. V. (STLA) (merger Fiat Chrysler Group (FCA) and Peugeot Group (PSA) (OTCPK:PEUGF)) Ferrari (Jeep, Chrysler, Dodge and RAM are owned by FCA)
The Stellantis Group recently ranked No. 6 in sales of the global electric car manufacturer with a global market share of 4. 7% since the beginning of the year. Stellantis is ranked 2nd in Europe with a market share of 15. 2% since the beginning of the year.
On December 2, Stellantis N. V. said, “Stellantis and Qinomic are teaming up to expand the electric modernization of soft advertising vehicles. “
On December 19, Stellantis N. V. said: “Engine production is accelerating to more than one million in France until 2024. “Highlights include:
On December 22, Stellantis N. V. announced, “Stellantis completes acquisition of aiMotive to drive autonomous travel. . . “
On December 23, Stellantis N. V. reported:
Stellantis plans to secure a stake in Symbio, a hydrogen company owned by Faurecia Michelin and a leader in mobile fuel technologies for the mobility industry.
Hyundai (OTCPK: HYMTF), Kia (KIMTF)
Hyundai-Kia Group recently ranked No. 7 in the global sales rating of electric car brands with a market share of 4. 7% since the beginning of the year. The Hyundai-Kia Group ranks third in Europe with a market share of 10. 7% since inception. of the year.
On December 1, Kia reported:
Kia announces international sales effects for November 2022. Year-to-date, EV6 sales have recorded 73,167 units, more than triple the EV6 sales figure in 2021.
On December 1, Kia reported:
Kia America records November sales in its history. . . Sales of Kia’s electric models, which posted double- to triple-digit gains over the past five months, also contributed to record functionality with a 133 percent year-over-year increase. . a one-year increase.
On December 27, Hyundai reported:
A major milestone for Hyundai in the Norwegian market, where from January 1, 2023 the logo will sell electric cars. . . “
BMW (OTCPK: BMWYY), Mini, Rolls-Royce
The BMW Group recently ranked No. 8 among global electric car brands with a global market share of around 3. 5% (not updated this month) since the beginning of the year. The BMW Group ranks fourth in Europe with a market share of 10. 7%. since the beginning of the year.
On December 2, the BMW Group announced:
The BMW Group launches the production of a hydrogen style in small series. Production of the small series of BMW iX5 Hydrogen at the pilot plant of the Research and Innovation Center in Munich. The fleet will enter international service from spring 2023.
On December 10, BMW Blog reported:
Envision AESC will invest $810 million in a battery plant for BMW’s Neue Klasse electric cars. In mid-October, BMW announced plans to invest $1. 7 billion in its Spartanburg facility to prepare for the next wave of electric cars. $1 billion will be spent to charge at least six electric cars to production lines in South Carolina by the end of the decade. The remaining $700 million will go to a new battery production facility in Woodruff, South Carolina.
On December 19, BMW’s blog reported: “BMW Neue Klasse cars will get short- and long-range versions similar to Tesla’s: Report. . . “
On December 21, Bloomberg reported:
BMW is expanding its partnership with battery manufacturer Solid Power. BMW AG is deepening its partnership with Solid Power Inc. as it seeks to block an emerging generation of batteries that can lessen the charge on its electric vehicles. BMW will pay Solid Power $20 million by June 2024 for its own generation, adding its expertise in the design and production of solid-state electrodes.
Daimler-Mercedes (OTCPK:DDAIF, OTCPK:DDAIY) (Smart – 50% JV between Daimler
Daimler-Mercedes is ranked number nine in the world with a market share of around 2. 9% (not updated this month). The Mercedes Group ranks fifth in Europe with a market share of 9. 3% since the beginning of the year. .
On Dec. 6, Reuters reported, “Mercedes opens its world’s first car dealership in Japan. “
On December 7, Electrek reported: “Mercedes-Benz will double engine production at its German plant to 1 million units. . . “
On Dec. 9, Bloomberg reported, “Mercedes-Benz commits to producing cars in Thailand. . . “
On December 12, the Mercedes-Benz Group announced:
Milestone in electric transformation: Mercedes-Benz Vans reorganises its production network in Europe. . . The long-term vision of the Mercedes-Benz Vans plants in Europe is underpinned. New plant is committed to the production of one hundred percent electric vans based on platform vans. EA.
On December 14, the Mercedes-Benz Group announced: “100%: explanation of the Mercedes-Benz production configuration for powertrains. “Highlights include:
On December 20, MercedesBlog reported:
Mercedes-Benz is going electric, factories will build electric car parts. . . Mercedes-Benz is moving towards a long-term electric and the resolution they are taking to convert the company’s factories is evidence of this. Factories such as Kamenz and Bruhl in Germany, Jawor in Poland or Sebes in Romania are being transformed. Starting in 2024, those production centers will leave the meeting lines in different parts than those they are working on lately. Mercedes is preparing for an electric diversity in the markets that can allow such an evolution. Still to be achieved, the high-end automaker is targeting a portfolio in which each style has an all-electric version.
Groupe GAC (Guangzhou Automobile Group Co. Ltd. )
GAC Group is ranked No. 11 globally with a market share of around 2. 7% (not updated this month) since the beginning of the year.
On December 12, CNEVPOST reported: “GAC Aion battery base structure begins with the aim of assembling the call for 600,000 cars corresponding to the year. . . “
On December 26, CNEVPOST reported:
GAC Aion teases the Hyper GT, the 2d style of its Hyper brand. The Hyper GT will debut at the Guangzhou Auto Show on December 30 and could cost around RMB 300,000 ($43,110).
XPeng Inc. (Xiaopeng Motors) (XPEV) [HK:9868]
On November 30, Bloomberg reported:
XPeng’s electric vehicle sales contract again, the outlook is darkening. Fourth quarter deliveries may fall only 52% year-over-year. Revenue may fall as much as 44% in 3 months to December 31.
On December 1, XPeng Inc. reported:
XPeng announces vehicle delivery effects for November 2022. 5,811 cars delivered in November 2022,109,465 cars delivered cumulatively in the first 11 months of 2022.
Great Wall Locomotive [HK: 2333] (OTCPK: GWLLF) (OTCPK: GWLLY) [ORA]
On December 6, S
Ford (F)
On December 1, Ford announced: Ford will increase its investment in Halewood to expand its electric vehicle portfolio. Highlights include:
On December 5, Electrek reported, “Ford Pro is advancing DHL’s electric vehicle deployment with more than 2,000 E-Transit electric pickups. . . by the end of 2023. “
On December 8, Which Car announced, “The Ford Puma EV will debut in 2024. . . “
On December 13, CNN reported: “Ford F-150 Lightning Named MotorTrend Truck of the Year, Consecutive Moments Collection. “
Li-Auto (LI) [HK:2015]
On December 1, Li-Auto reported:
Li Auto Inc. November 2022 delivery update. Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI; HKEX: 2015), leader in China’s new electric vehicle market, announced that the Company delivered 15,034 cars in November 2022, achieving record monthly deliveries and representing a year-on-year increase of 11. 5%. Cumulative deliveries of Li Auto cars reached 236,101 at the end of November.
On December 9, Li-Auto reported:
Li Auto Inc. announces unaudited currency effects for the third quarter of 2022. Total quarterly profit reached RMB 9340 million (USD 1310 million). Quarterly deliveries reached 26,524 vehicles
NIO Inc. (NIO)
On December 1, NIO Inc. reported, “NIO Inc. is providing an update on November 2022 deliveries. The company has achieved a new record for monthly deliveries. “Highlights include:
On December 20, NIO Inc. reported, “NIO Inc. temporarily responds to knowledge leaks. . . “
On December 27, NIO Inc. reported:
NIO Inc. carefully adjusts the delivery outlook for the fourth quarter of 2022. . . In December 2022, the company faced delivery and production challenges, as well as some supply chain constraints, caused by the emergence of the Omicron variant of the coronavirus in major cities in China. The company now expects to deliver between 38,500 and 39,500 cars in the fourth quarter of 2022, after adjusting from the previously published perspective of 43,000 to 48,000 cars.
Renault [FR:RNO] (OTC:RNSDF)/ Nissan (OTCPK:NSANY)/ Mitsubishi (OTCPK:MSBHY, OTCPK:MMTOF)
On November 30, Nissan announced: “Nissan presents a green loan of two hundred billion yen for investments in zero-emission mobility. . . “
On December 1, Car Expert reported:
Renault and Airbus will work on long-range EV technology. Groupe Renault has signed an agreement with Airbus for the development and development of new energy control systems and more energy-dense batteries.
On December 2, Renault reported: “The Renault organization launches the first commercial metaverse. “
On December 21, Nissan announced, “Nissan will share part of the design and progression of electrified powertrains with JATCO. . . “
General Motors (GM)/Chevrolet
On December 6, Reuters reported:
GM’s BrightDrop showcases Canada’s first visitor and introduces the country’s first primary electric vehicle plant. The first electric delivery trucks rolled off the production lines at BrightDrop’s new plant in Canada on Monday, when the unit arrived from General Motors Co (GM. N) also announced that DHL Express Canada (DPWGn. DE) is its first visitor outside the United States.
On December 12, AP News reported:
GM’s joint venture gets a $2500 million loan to build battery plants. A joint venture between General Motors and South Korean battery company LG Energy Solution secured a $2500 million federal loan to help finance 3 mobile lithium-ion battery plants in Ohio, Tennessee and Michigan. The Ministry of Energy granted the loan to the corporation, called Ultium Cells. . . The loan was first announced in July.
On December 14, Bloomberg reported:
GM will go to extraordinary lengths to protect minerals from electric vehicle batteries. GM will go so far as to supply mining sites. Traditionally, automakers traded metal and aluminum.
On 20 December, Autocar reported:
GM is pushing back EV targets as chip shortages are felt. General Motors first planned to produce 400,000 electric cars by the end of 2023.
On Dec. 23, Reuters reported: “GM is recalling 140,000 Chevrolet Bolt electric cars due to fire hazards. . . “
On December 28, GM Authority reported:
Spy test of the 2024 Chevy Blazer EV PPV prototype: photos. The 2024 Chevy Blazer EV PPV is intended to be the first all-electric Chevrolet ever produced. Designed to meet or pass Michigan State Police’s annual vehicle tests, the vehicle includes a wealth of police-related content, such as underbody license plates, all electronic devices, and vinyl seats and flooring.
Polestar Automotive Holding UK Limited (PSNY)
Nº of the month.
Beijing Automotive Group Co. (BAIC) (including Arcfox) [HK:1958) (OTC:BCCMY)
On December 16, BAIC reported, “ARCFOX αS, the all-new HI model, won the Xuanyuan Award for its remarkable ADAS performance. . . “
Lucid group (LCID)
On December 13, Lucid Group reported:
Panasonic Energy and Lucid Group have announced an agreement for lithium-ion batteries for Lucid Air luxury electric vehicles. Global leader in lithium-ion batteries, Panasonic Energy, has agreed batteries for Lucid’s full diversity of vehicles, adding the Lucid Air and the upcoming Gravity SUV.
On December 15, Lucid Group reported:
Lucid announces the opening of the first retail and service centre in the Netherlands, having achieved a five-star rating on Euro NCAP’s safety score.
On December 19, Lucid Group announced, “Lucid Group, Inc. announces successful fundraising of approximately $1. 515 billion. . . “
On December 21, Lucid Group reported:
Lucid kicks off deliveries of Lucid Air Dream Edition to consumers in Europe, confirming the official WLTP of up to 883 km.
Rivian Automotive (RIVN)
On December 5, Rivian reported, “Rivian’s symptoms reach agreement with Apex Clean Energy for Illinois Manufacturing. . . “
On December 12, CNBC reported, “Rivian suspends plans to manufacture vans in Europe with Mercedes-Benz. “Highlights include:
On December 20, Seeking Alpha reported:
Rivian’s inventory increases as Cantor orders a hot hotspot. . . Sheppard on Tuesday began covering inventory with a rating equivalent to purchase, mentioning its “differentiated product offering,” Amazon (AMZN) and its efforts to identify a cargo network as tailwinds. “We think this can be a smart access point for new investors,” Sheppard advised. It assigned a $30 target to inventories along with the start of overweight.
Toyota (TM)/Lexus
On December 12, Electrek reported:
Toyota is looking for suppliers for a new strategy to better compete with electric vehicle leaders. After seeing the luck and demand from automakers like Tesla and BYD with electric vehicles, Toyota is reportedly looking for its share. prepared to make significant changes to its EV strategy at its next supplier assembly next year.
Tata Motors Group (TTM) (Jaguar, Land Rover)
On December 14, Tata Motors reported:
Tata Motors signed a memorandum with Everest Fleet Private Limited for the delivery of 5,000 XPRES-T electric vehicles. As part of this contract, one hundred vehicles were delivered to the company for its taxi services.
On December 16, Tata Motors reported:
The Bengaluru Metropolitan Transport Corporation announces a definitive agreement with Tata Motors subsidiary for the operation of 921 buses in Bangalore.
On December 23, Tata Motors reported:
Delhi Transport Corporation announces a definitive agreement with Tata Motors subsidiary for the operation of 1500 buses.
GreenPower Motor Company Inc. [TSXV:GPV] (GP)
On December 1, GreenPower Motor Company Inc. reported:
GreenPower announces a successful finishing touch to the first all-electric school bus pilot assignment circular in West Virginia.
On December 7, GreenPower Motor Company Inc. reported:
GreenPower announces an enhanced collaboration with Gemilang International and an order for all-electric right-hand drive vans and vehicles.
Workhorse Group Inc. (WKHS)
On December 28, Workhorse Group Inc. stated, “Workhorse Group offers an update. Highlights include:
Electric lion (LEV)
On Dec. 19, Lion Electric reported, “Lion Electric delivers its first subsidized bus to the U. S. Environmental Protection Agency’s Clean School Bus program. “UU. . . “
On December 21, Lion Electric reported, “Lion announces the production of the first lithium-ion battery at its battery production plant. . . “
Nikola Corporation (NKLA)
On December 1, Nikola Corporation reported:
The Phoenix Hydrogen Hub LLC assignment was invited to participate in Phase II of the U. S. Department of Energy’s $1. 3 billion loan application process. UU. . .
On December 15, Nikola Corporation reported:
Nikola and Plug announce a strategic collaboration to advance the hydrogen economy. Plug will purchase up to 75 Nikola Tre hydrogen fuel mobile electric cars for green hydrogen delivery. Nikola will acquire a 30-metre liquefaction formula consistent with Plug’s day for hydrogen center allocation in Arizona.
On December 20, Nikola Corporation reported:
LAX takes delivery of the first heavy-duty truck as the airport transitions to a full fleet. Los Angeles World Airports took delivery of its first Class 8 heavy-duty vehicle, a Nikola Tre battery vehicle.
On December 21, Nikola Corporation said, “Nikola and E. ON announce CO2 savings plans of 560,000 metric tons consistent with the year to 2027. “
On December 22, Nikola Corporation reported, “Nikola Tre FCEV receives the order from CARB. Eligibility for California’s HVIP incentive program is ongoing. “
Honda [TYO: 7267] (HMC) (OTCPK: HNDAF)
On December 20, Acura announced:
Acura ZDX will outline S-type functionality for the electrified era. Development paints on Acura’s first all-electric models, the 2024 ZDX and ZDX Type S functionality variants, continue at a steady rate as testing expands to real-world conditions. Accelerating toward an electrified future, Type S models will continue to prioritize the drivepower experience and exemplify Acura’s unwavering commitment to delivering on the promise of the Precision Crafted Performance logo.
2024 Acura ZDX Prototype
Acura
Lordstown Engines (RIDE)
On November 29, Lordstown Motors reported:
Lordstown Endurance™ pickup truck gets full certification; earned EPA and CARB certification; The first visiting cars to leave the Foxconn EV Ohio plant for delivery Array. . . Lordstown Motors is pleased to announce that our EnduranceTM battery-powered electric pickup truck has achieved full certification. The certification was obtained from EPA and CARB. we have situations to start sales to visitors. The first units, from our initial batch of 500, leave the Foxconn EV Ohio plant for visitor delivery. As stated above, the production volume will slowly accumulate and increase as we get chain constraints.
Mazda (OTCPK: MZDAY)
There is no automobile-like news for the month.
Arrival (ARVL)
Nº of the month.
Fisker Inc. (FSR)
On December 1, Fisker Inc. reported:
Fisker does not verify any bank guarantee with Magna and owns the intellectual assets of the Fisker Ocean EV platform. . . Fisker said, “Fisker does Inc. no have a bank guarantee with Magna, and Fisker owns the intellectual assets of Fisker Ocean Platform. The Ocean platform does not have 80% of the portions transferred from the platform. “
You can read an article about Trend Investing at Fisker Inc. Here.
Arcimoto Inc. (FUV)
There is no news for the month.
Electrameccanica Vehicles Corp. (SOLO)
On Dec. 5, Electrameccanica Vehicles Corp. reported:
ElectraMeccanica appoints a new CEO to drive commercialization and commercialization. Susan Docherty, an experienced expansion manager, serves as executive director and interim chief operating officer. Kevin Pavlov and Joe Mitchell resign effective immediately.
On Dec. 12, Electrameccanica Vehicles Corp. reported, “ElectraMeccanica celebrates the commissioning of the new production plant and headquarters in Mesa. “
On December 22, Electrameccanica Vehicles Corp. announced, “ElectraMeccanica Announces Relief Projects to Streamline and Boost Onshore Manufacturing. . . “
Other electric vehicle corporations are limited to coming with Envirotech Vehicles (EVTV) (formerly ADOMANI Inc. , Atlis Motors, Ayro, Inc. (AYRO), Blue Bird Corporation (BLBD), Blink Charging (BLNK), Byton (private), Canoo Holdings (GOEV), China Evergrande New Energy Vehicle Group [HK:3333], Chery Automobile Co. Ltd. (private), Didi Chuxing, Dyson (private), Electric Last Mile Solutions Inc. (“ELMS”) (ELMS), Ferrari NV (RACE), Guangzhou Automobile Group Co. , Hyliion Holdings (HYLN), Ideanomics Inc. (IDEX), Mahindra
The list of countries and cities that ban (or plan to ban) gasoline and diesel cars includes at least:
Note: Wikipedia has a correct list showing the phase-out of fossil fuels in cities and countries.
Target dates for phasing out ICE vehicles
BloombergNEF
On December 2, Seeking Alpha reported:
Autonomous trucks drive in Texas while Aurora and Uber check the peak holiday freight transport season. Aurora Innovation (AUR) and Uber Freight (UBER) announced the expansion of their autonomous pilot with a new advertising direction between Fort Worth and El Paso.
On Dec. 6, Seeking Alpha reported, “Apple is delaying the launch of the autonomous car until 2026, but it’s still a major disruption for the electric vehicle industry. “
On December 16, Baidu (BIDU) announced, “Robo-Taxi Deployment Update: Baidu Apollo Day 2022. “You can watch an update video on how Baidu now has a robotic taxi service in China without a driving force in the car.
On December 24, Bloomberg reported:
December brought good news for autonomous vehicles, a sector that has not been popular with investors lately. GM’s Cruise expanded to Phoenix and Austin, Texas, while Alphabet’s Waymo implemented the latest permit it wants to sell driverless rides and opened trips to Phoenix Airport to the public. While Ford and Volkswagen buried their autonomous corporate Argo AI this year and Tesla’s robotaxis are still missing, Cruise and Waymo will try to figure out they can create viable businesses in 2023.
BNEF 2020 Forecasts by Fleet Type
BloombergNEF
Global sales of plug-in electric cars in November 2022 increased by approximately 50% year-on-year and reached an estimated global market share of 16% (not updated); Percentage of 35% in China, 28% in Europe and no knowledge for November (Q3 around 6%) for the US. U. S.
The highlights of the month were:
As always, everyone is welcome.
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Disclosure: I have/have a long advantageous position in the shares of TESLA (TSLA), BYD CO (HK:1211), SAIC MOTOR [SHA:600104], XPENG [HKG:9868], FISKER (FSR), GREENPOWER MOTOR [TSXV: GPV], BATT, VERTICAL AEROSPACE (EVTL), LILIUM N. V. (LILM), APTERA MOTORS (PRIVATE, PURCHASED VIA WEFUNDER) or through equity, features or other derivatives. This article I wrote myself and expresses my own opinions. . I don’t get any refunds for this (other than Seeking Alpha). I have no business relationship with a company whose actions are discussed in this article.
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