Trends

EV Company News For The Month Of February 2023

Trending 1 year ago
beritaja.com

Electric Car And Electric Vehicle Charging Station

sefa ozel

Welcome to nan February 2023 version of Electric Vehicle [EV] institution news.

February saw January world plugin electrical car income emergence 10% twelvemonth connected twelvemonth pinch nan accustomed seasonal slowdown occurring successful Q1, notably this twelvemonth successful China arsenic EV subsidies ended. It was a very engaged period of news from nan EV manufacturers starring up to nan March 1 Tesla 2023 Investor Day.

Global electrical car income arsenic of end January 2023

Global plugin electrical car income were 662,000 successful January 2023, up 10% connected January 2022 sales. Global plugin electrical car marketplace stock successful January was 11%, and 11% YTD.

China plugin electrical car income were 343,000 income successful January 2023, down 8% connected January 2022 sales. Electric car marketplace stock successful China for January was 26%, and 26% YTD.

Europe plugin electrical car sales were 158,000 successful January 2023, up 3% YoY, reaching 17% marketplace stock and 17% YTD. Norway reached 76% share, Sweden 52%, Netherlands 27%, Germany 15%, France 22%, and UK 20% stock successful January 2023.

USA plugin electrical car income were reported by CleanTechnica stating connected February 1, 2023: "Monthly income of caller plug-in electrical vehicles [PEV], including all-electric vehicles (EV) and plug-in hybrid electrical vehicles [PHEV], reached 7.4% of each light-duty income successful September 2022, exceeding a 7% stock for nan first time." Another caller report stated USA 'fully electric' car income successful 2022 averaged 5.7% marketplace share, rising by 65% connected 2021.

Regarding areas of awesome EV maturation CleanTechnica quoted:

The world marketplace kept connected growing, acknowledgment to markets for illustration nan USA (+118% YoY), Belgium (+75%), Japan (+104%!), India (+256%!!), and Australia (+352%!!!) being connected nan upswing.

Note: The supra income see ray commercialized vehicles.

Note: An acknowledgement to Jose Pontes and nan squad astatine CleanTechnica Sales for their activity compiling each nan electrical car income quoted supra and charts below. Also nan squad astatine EV-Volumes for their awesome work.

Top trading world car brands January 2023 (source)

Top trading world car brands January 2023

CleanTechnica

Global EV income forecasts successful nan years ahead

Global electrical car income reached 10.522m successful 2022 and 13% marketplace stock (source)

Global electrical car income reached 10.522m successful 2022 and 13% marketplace share

EV-Volumes

Note: 73% of electrical car income successful 2022 were 100% artillery electrical vehicles (BEVs), and 27% were being plugin hybrids.

Bloomberg breakdown of EV income by twelvemonth and region (source) - Forecasts 13.6m plugin electrical car income successful 2023

Bloomberg breakdown of EV income by twelvemonth and region

BloombergNEF

Note: Trend Investing's forecast for 2023 is astir 14.4m income (17.5% marketplace share).

Global plugin electrical car income forecast to turn exponentially this decade

Global EV income forecast

Mining.com

BloombergNEF forecasts (as of mid 2022), "plug-in electrical vehicles income emergence from 6.6 cardinal successful 2021 to 20.6 cardinal successful 2025" and "by 2025, plug-in electrical vehicles correspond 23% of caller rider vehicles income globally, up from conscionable nether 10% successful 2021".

2022 - BloombergNEF agelong word EV forecast (global EV stock to transcend 70% by 2040)

BloombergNEF agelong word EV forecast (global EV stock to transcend 70% by 2040)

BloombergNEF

BloombergNEF forecasts ~40.4% world rider EV marketplace stock successful 2030 and 75.3% successful 2040 (published June 2022)

BloombergNEF forecasts ~40.4% world rider EV marketplace stock successful 2030 and 75.3% successful 2040

BloombergNEF

EV marketplace news

On February 1 Investing News reported:

EV marketplace forecast 2023: Top trends that will impact EVs successful 2023...."A simplification successful subsidies/incentives successful cardinal countries, specified arsenic Germany, Norway and China, resulted successful beardown pre-buying earlier incentives were reduced successful nan caller year," Charles Lester of Rho Motion......EV-volumes.com income information shows that nan world full for past twelvemonth came successful astatine 10.5 cardinal units crossed BEVs and PHEVs. An awesome maturation of 55,4 percent successful a difficult conveyance marketplace arsenic a whole.......The world EV stock successful ray conveyance income is 13 percent for 2022......Rho Motion forecasts complete 14 cardinal world BEV and PHEV income successful 2023.....analysts astatine BloombergNEF.......expect 13.6 cardinal plug-in rider conveyance income successful full for this year, pinch astir 75 percent of those being afloat electric.......In nan US, nan preamble of nan Inflation Reduction Act is expected to support nan EV marketplace maturation successful nan country.......Looking moreover further ahead, Reuters notes that carmakers person plans to build 54 cardinal artillery EVs successful 2030......

Note: Bold accent by nan author.

On February 7 CleanTechnica reported:

Lotus spins disconnected EV section successful $5.4 cardinal SPAC deal. EV subsidiary of storied Lotus Cars, Lotus Technology, is being spun retired successful an first $5.4 cardinal SPAC merger!

On February 10 CNBC reported: "Vietnam's EV shaper VinFast is connected way to commencement accumulation successful nan U.S. successful 2024."

On February 11 Inside EVs reported:

California: Plug-in car income surged to 24% marketplace stock successful Q4 2022. The Tesla Model Y and Tesla Model 3 were nan 2 astir celebrated models successful nan authorities past year.

On February 19 CleanTechnica reported:

No much fossil-powered taxis successful Hamburg soon. Hamburg will beryllium nan first authorities successful Germany (and possibly much broadly) to prohibition fossil-powered vehicles from its taxi operations. The prohibition goes into effect successful 2025. The prohibition comes pinch week pinch nan transition of a caller ambiance law......While nan rule requires a complete changeover to fossil-free taxis nary later than 2025, immoderate operators, for illustration Best Taxi, are really trying to make nan modulation this year.

On February 23 CNEV Post reported:

Hina Battery becomes 1st artillery shaper to put sodium-ion batteries successful EVs successful China. The unveiling of nan Sehol E10X trial conveyance intends that sodium-ion batteries are starting to beryllium utilized successful rider cars, aft nan caller batteries were chiefly utilized successful electrical two-wheelers and for power storage......the Sehol E10X has 2 battalion capacities, 19.7 kWh and 31.4 kWh, pinch a scope of 200 km and 302 km, respectively. The higher capacity battalion has an power density of 141 Wh/kg. The Sehol E10X is presently disposable successful 7 versions pinch a guideline value scope of RMB 46,900 ($6,810) to RMB 76,400......

On March 1 Tesla held Tesla 2023 Investor Day. The arena discussed nan world move towards renewable power and EVs. The afloat magnitude video is here.

The descent beneath show nan simplification successful fossil fuels of each alteration - renewable power procreation (35%), move to electrical vehicles (21%), move to power pumps (22%) etc.

Tesla scheme to destruct fossil fuels

Tesla 2023 Investor Day

Electrification of nan world fleet will require 115TWh of batteries. A later descent shows to spell 100% renewable & EVs will require 240TWh of batteries (say 24 years of 10TWh pa accumulation needed). In 2022 nan world produced only 0.7TWh of lithium-ion batteries. So we request to move 14.3x faster to get to 10TWh pa, past do that for 24 years.

Switch to electrical vehicles

Tesla 2023 Investor Day

EV institution news

BYD Co. [SHE: 002594][HK:1211](OTCPK:BYDDY) (OTCPK:OTCPK:BYDDF)

BYD is presently classed nan number 1 globally pinch 22.7% marketplace stock YTD. BYD is classed number 1 successful China pinch 40.2% marketplace stock YTD.

On February 1 Car News China reported: "BYD sold 151,341 vehicles successful January, up 62% twelvemonth connected year."

On February 14 Reuters reported:

BYD to build $1.2 bln EV artillery works successful cardinal China - website..... FinDreams Technology, nan Chinese company's artillery unit, is aiming to build a installation pinch nan capacity to nutrient 40 gigawatt hours per twelvemonth of its Blade Battery successful nan metropolis of Zhengzhou successful Henan province, according to biology filings published connected nan Zhengzhou authorities website connected Friday seeking nationalist feedback connected nan project.

On February 16 Nikkei Asia reported:

China's BYD enters luxury EV marketplace pinch SUV priced up to $200,000. Carmaker looks to pat increasing people of able Chinese consumers....new luxury marque Yangwang....

On February 21 Car News China reported: "BYD became nan income champion of axenic electrical vehicles successful Thailand successful January 2023."

Tesla Inc. (NASDAQ:TSLA)

Tesla is presently classed nan number 2 globally pinch 15.2% world marketplace stock YTD. Tesla is number 2 successful China pinch 7.8% marketplace stock YTD. Tesla is number 5 successful Europe pinch 6.2% marketplace stock YTD. Tesla is still nan number 1 electrical car seller successful nan US by acold pinch ~65% marketplace share.

On February 1 Arena EV reported:

Tesla originates to unfastened up its Supercharger web to different EVs successful Australia. One by one, Tesla's Supercharger stations are opening up to vehicles from different makers. The institution started nan process past twelvemonth successful Europe, nan North-America is being delayed and now nan first stations successful Australia are welcoming electrical cars from different brands. Europe is acold up of different markets, pinch hundreds of locations already charging electrical cars from each EV brand. The scheme was to do nan aforesaid successful nan US and Canada, but nan rollout has been delayed and location is nary accusation erstwhile it will begin.

On February 18 Seeking Alpha reported: "Baron Funds - Tesla: Would scope $500 per stock successful 2025 and $1,500 by 2030."

On February 21 Bloomberg reported:

Tesla undercuts mean US car by almost $5,000 successful EV shakeout. Elon Musk's latest US value driblet brings Tesla's electric-vehicle premium to a grounds low.

On February 27 Reuters reported: "Tesla's German works hits 4,000 cars per week up of schedule."

On February 28 Bloomberg reported:

Tesla pauses rollout of driving package taxable to US recall. Tesla Inc. has temporarily stopped rolling retired its $15,000 driver-assistance strategy until it addresses issues that led nan carmaker to callback almost 363,000 vehicles......The characteristic known arsenic FSD Beta whitethorn allows Tesla vehicles to transcend velocity limits aliases recreation successful unlawful aliases unpredictable ways that summation clang risk, nan US National Highway Traffic Safety Administration said connected Feb. 16.......Tesla said successful its recall report that it expected to deploy an over-the-air package hole to its vehicles "in nan coming weeks."

On March 1 The Street reported:

Elon Musk confirms Tesla's 5th mill successful Mexico....... "We're excited to denote that that nan adjacent Tesla Gigafactory will beryllium successful Mexico adjacent Monterrey [city]," Musk announced.

On March 1 CNBC reported:

Tesla banal falls much than 5% aft hours arsenic Investor Day falls short connected specifics......The position was agelong connected imagination and a reappraisal of anterior achievements, but short connected specifics astir immoderate caller Tesla products aliases services.

Investors tin publication our past Trend Investing article: "Tesla - A Look At The Positives And The Negatives", wherever we rated nan banal a buy. It was trading astatine USD 250 (post 5:1 banal divided and 3:1 divided is balanced to USD 16.67). Investors tin besides publication nan latest Tesla Trend Investing article (discusses nan imaginable of Tesla's humanoid robot) here.

Volkswagen Group [Xetra:VOW](OTCPK:VWAGY) (OTCPK:VLKAF)/ Audi (OTCPK:AUDVF)/ Lamborghini/ Porsche (OTCPK:POAHF)/ Skoda/ Bentley

'Volkswagen Group' is presently classed nan number 3 top-selling world electrical car shaper pinch 7.5% marketplace stock YTD, and 4th successful Europe pinch 7.7% marketplace stock YTD.

On February 20 Volkswagen Group reported: "Volkswagen Group Technology develops complete thrust strategy for electrical cars." Highlights include:

  • "In summation to nan artillery and electrical motor, successful early nan exertion powerhouse of nan Group will besides create beat inverters and thermal guidance systems.
  • The improvement of a complete thrust offers ratio and costs advantages, up to 20 percent much ratio done nan optimal operation of individual components....."

On February 21 Volkswagen Group reported: "Wolfsburg plant: Volkswagen will train 22,000 accumulation labor for e-mobility by 2025....."

On February 22 Bently Motors reported:

......Bentley announces coming that it will cease accumulation of its 12-cylinder petrol motor successful April 2024......The determination comes arsenic portion of Bentley's acceleration towards a sustainable early done its Beyond100 strategy which will spot nan company's full exemplary statement afloat electrified by nan commencement of nan adjacent decade.....

On February 23 The Driven reported: "Porsche has all-electric Cayenne successful useful for 2026....."

Geely Automobile Holdings Ltd (OTCPK:GELYY, HK:0175), Volvo Cars, Kandi Technologies Group (NASDAQ:KNDI), Proton, Lotus, ZEEKR. (Note: Volvo Group is simply a abstracted institution that makes e-trucks & e-buses)

Geely/Volvo is presently classed number 4 successful nan world electrical car manufacturer's income ranking pinch 5.8% world marketplace stock YTD. Volvo is classed 3rd successful Europe pinch 7.8% marketplace stock YTD.

On February 1 Geely Automobile Holdings announced:

Unaudited transportation measurement of ZEEKR....delivered 3,116 units of vehicles successful January 2023, down astir 12% twelvemonth connected year.

On February 13 Nikkei Asia reported:

China's Geely raises $750m for Zeekr EV brand.....with nan world's biggest lithium ion artillery shaper among nan investors.

On February 24 Geely reported: "Geely Auto looks to Geely Yinhe for electrical future." Highlights include:

  • "Geely Auto launches caller premium electrified merchandise bid - Geely Yinhe.
  • Yinhe bid to attraction connected premium agelong scope hybrid and axenic electrical vehicles.......
  • Fully electrical high-end Geely Yinhe E exemplary to travel successful Q4."

Wuling Automobile JV (SAIC 51%, GM 44%, Guangxi 5.9%), SAIC Motor Corporation Limited [SAIC] [CH:600104] (SAIC includes Roewe, MG, Baojun, Maxus)

SGMW (SAIC-GM-Wuling Automobile) is number 5 globally pinch 5.1% marketplace stock YTD. SAIC/GM/Wulin JV (SGMW) positive SAIC is 3rd successful China pinch 7.1% stock YTD.

On February 9 SAIC Motor reported:

SAIC Motor sets eager extremity to waste 6m units this year.....The carmaker reported 76, 600 vehicles successful overseas markets, up 17. 1 percent from nan aforesaid clip past twelvemonth arsenic its New Energy smart-car proved celebrated successful some home and overseas markets......In January, astir 5, 000 MG4 Electrics, nan first accumulation exemplary developed connected SAIC Motor's dedicated electrical MSP platform, were delivered to Europe.

BMW (OTCPK:BMWYY), Mini, Rolls-Royce

BMW Group is presently classed nan number 6 world electrical car shaper pinch 4.8% world marketplace stock YTD. BMW Group is classed 1st successful Europe pinch 8.6% marketplace stock YTD.

On February 3 BMW Group reported: "BMW Group steps up accumulation of electrical vehicles successful world accumulation network: NEUE KLASSE will besides beryllium built astatine Plant San Luis Potosí successful Mexico." Highlights include:

  • "Investment of € 800 cardinal successful Mexican accumulation tract for integration of fully-electric models of NEUE KLASSE and building of section high-voltage artillery assembly......"

On February 24 CNEVPOST reported: "BMW recalls complete 90,000 EVs successful China owed to package issues."

Stellantis N.V. (NYSE:STLA) (merger Fiat Chrysler Group (FCA) and nan Peugeot Group (OTCPK:PEUGF)) Ferrari (Jeep, Chrysler, Dodge, and RAM are each owned by FCA)

Stellantis Group is presently classed nan number 7 successful nan world electrical car manufacturer's income pinch 4.8% world marketplace stock YTD.

On February 22 Stellantis N.V. reported:

Stellantis delivers grounds afloat twelvemonth 2022 results; Global BEV income up 41% progressing accelerated connected situation guardant 2030 execution.

On February 22 Stellantis N.V. reported: "Stellantis labor rewarded pinch grounds €2 cardinal worldwide linked to afloat twelvemonth 2022 performance."

On February 22 Stellantis N.V. reported:

Stellantis approves stock buyback program. The Stellantis Board of Directors approved a stock buyback programme of up to €1.5 cardinal (total acquisition value excluding ancillary costs), to beryllium executed connected nan marketplace pinch nan intent to cancel nan communal shares acquired done nan stock buyback program. The shares will beryllium purchased complete a play ending December 31, 2023 connected NYSE / Euronext Milan / Euronext Paris.

Daimler-Mercedes (OTCPK:MBGAF, OTCPK:MBGYY) (Smart - 50% JV betwixt Daimler & Geely) (NB: A connection to rename Daimler to Mercedes Benz)

Daimler-Mercedes is classed number 8 aliases 9 globally pinch ~2.9% (not updated) marketplace stock YTD. Mercedes Group is classed 2nd successful Europe pinch 8.2% marketplace stock YTD.

No electrical conveyance related news for nan month.

Hyundai (OTC:HYMTF), Kia (OTC:KIMTF)

Hyundai-Kia Group is presently classed astir number 8 aliases 9 successful nan world electrical car manufacturer's income ranking pinch ~4.7%(not updated) marketplace stock YTD.

On February 1 Hyundai reported:

Hyundai Motor America reports record-breaking January 2023 sales. Hyundai group full income records successful January for Venue (+7%), Elantra HEV (+574%), IONIQ 5 (+57%), Santa Fe HEV (+191%), Palisade (+6%), Kona EV (+334%) and Kona N (+49%).......

On February 1 Kia reported: "Kia announces January 2023 world income results." Highlights include:

  • "January world income astatine 232,437 units, up 9.0% y/y......
  • Kia to proceed its modulation to sustainable mobility solutions supplier done caller models including EV9."

On February 21 Hyundai reported: "Hyundai Motor America announces pricing for highly anticipated 2023 IONIQ 6 EV." Highlights include:

  • "53-kWh Battery Pack Standard Range Trim Level Announced for U.S. Market.
  • MSRP Starts astatine $41,600 for IONIQ 6 SE Standard Range Trim, Available this Summer.
  • IONIQ SE Long Range Trim pinch an EPA-estimated 361 Miles of Range Starts astatine $45,500....."

Hyundai IONIQ 6

Hyundai IONIQ 6

Hyundai

GAC Group (Guangzhou Automobile Group Co. Ltd.)

On February 2 CNEVPOST reported: "GAC Aion sees income driblet 66% month-on-month, starts offering car-buying incentives....."

Great Wall Motor [HK:2333] (OTCPK:GWLLF) (OTCPK:GWLLY) [ORA]

On February 14 Great Wall Motor reported:

Great Wall Motor celebrates 2nd day successful Thailand, fresh to motorboat TANK 500, TANK 300 and ORA Grand Cat successful 2023 while resuming reservations of ORA Good Cat to underline xEV Leadership successful Thailand.....Having achieved full income of 11,616 units successful 2022, GWM will proceed to underscore its xEV activity pinch 4 proactive strategies: branding, products, sales, and aftersales services, while preparing to bring 5 xEV models to nan Thai marketplace this year......

Great Wall Motor Celebrates 2nd Anniversary successful Thailand, Ready to Launch TANK 500, TANK 300 and ORA Grand Cat successful 2023 while Resuming Reservations of ORA Good Cat to Underline xEV Leadership successful Thailand

Great Wall Motor

Ford (NYSE:F)

On February 8 Ford reported:

Ford opens caller 3D Printing Centre to support accumulation of its first all-electric conveyance to beryllium built successful Europe.....Ahead of this year's motorboat of its first European-built, all-electric model, Ford is utilizing a caller 3D printing centre to summation ratio and value successful accumulation processes.

On February 11 Bloomberg reported:

Ford plans to build EV artillery works successful Michigan pinch Chinese partner...... Ford Motor Co. and Contemporary Amperex Technology Co. Ltd. scheme to build a artillery works successful Michigan......Ford is moving up pinch nan task contempt uncertainty astir really nan US Treasury Department will interpret requirements successful President Joe Biden's signature ambiance package, nan Inflation Reduction Act. The rule is designed to withhold user taxation credits for EVs made pinch a definite magnitude of China-linked materials successful their batteries.

On February 14 CNBC reported: "Ford to trim 3,800 jobs successful Europe successful displacement to electrical conveyance production."

On February 14 CNBC reported: "Ford halts F-150 Lightning accumulation owed to imaginable artillery issue."

On February 16 Ford reported: "LFP Batteries to grow powertrain prime for Mustang Mach-E arsenic Ford increases artillery accumulation capacity." Highlights include:

  • "Ford is adding LFP batteries to its EV line-up this twelvemonth starting pinch Mustang Mach‑E.
  • LFP batteries are exceptionally durable, utilizing less high-demand, precocious costs materials and offering enhanced accelerated charging capability.
  • Ford besides is investing $3.5 cardinal to build an LFP artillery works successful Michigan, U.S., portion of nan company's $50 billion+ world push to lead nan EV revolution."

On February 21 Ford reported:

Ford, LG Energy Solution, and Koç Holding to found a associated task to nutrient artillery cells arsenic Ford prepares to bring much EVs to customers successful Europe.

On February 24 CNBC reported:

Ford suspends electrical F-150 Lightning accumulation for different week pursuing artillery fire. "The teams worked quickly to place nan guidelines origin of nan issue," Ford said successful a connection Friday. "We work together pinch SK's recommended changes successful their instrumentality and processes for SK's compartment accumulation lines.

Li-Auto (LI) [HK:2015]

On February 1 Li-Auto reported:

Li Auto Inc. January 2023 transportation update.....the Company delivered 15,141 vehicles successful January 2023, up 23.4% twelvemonth complete year.

On February 8 Li-Auto reported: "Li Auto Inc. launches Li L7, a five-seat flagship family SUV."

Li Auto Inc. Li L7

Li L7

Li-Auto

On February 27 Li-Auto reported: "Li Auto Inc. announces unaudited 4th fourth and afloat twelvemonth 2022 financial results." Highlights include:

  • "Quarterly full revenues reached RMB17.65 cardinal (US$2.56 billion).
  • Quarterly deliveries reached 46,319 vehicles.
  • Full twelvemonth full revenues reached RMB45.29 cardinal (US$6.57 billion).
  • Full twelvemonth deliveries were 133,246 vehicles."

NIO Inc. (NIO)

On February 1 NIO Inc. reported: "NIO Inc. provides January 2023 transportation update." Highlights include:

  • "NIO delivered 8,506 vehicles successful January 2023.
  • Cumulative deliveries of NIO vehicles reached 298,062 arsenic of January 31, 2023."

On February 21 Reuters reported:

EV shaper NIO to build 1,000 battery-swap stations successful China successful 2023.....NIO will build 400 battery-swapping stations on highways and 600 successful municipality areas pinch a attraction connected nan country's third- and fourth-tier cities and counties, Li said successful a station connected NIO's societal media platform.

On February 21 Reuters reported: "NIO to build mill successful China for fund EVs - sources."

XPeng Inc. (Xiaopeng Motors) (XPEV) [HK:9868]

On February 1 XPeng Inc. reported:

XPENG announces conveyance transportation results for January 2023.....XPENG delivered 5,218 Smart EVs successful January 2023. January deliveries included 2,249 Flagship G9 SUVs. Vehicle deliveries for nan period reflected seasonal slowdown during nan Chinese New Year vacation play which began successful mid-January. The Company will soon unveil nan caller type of nan P7 smart sedan.

Renault [FR:RNO] (OTCPK:RNSDF)/ Nissan (OTCPK:NSANY)/ Mitsubishi ([[MSBHF]], OTCPK:MMTOF)

On February 13 Nissan Motor Corporation reported: "Renault and Nissan renew committedness to Indian operations done caller finance and vehicles."

On February 16 Mitsubishi Motors reported:

Mitsubishi Motors originates accumulation of Minicab-MiEV, a Kei-Car Class Commercial EV, successful Indonesia successful 2024, nan first section accumulation of nan conveyance extracurricular Japan.

Minicab-MiEV (Indonesia International Motor Show 2023)

Minicab-MiEV (Indonesia International Motor Show 2023)

Mitsubishi Motors

On February 27 Nissan Motor Corporation reported:

Nissan further accelerates electrification strategy. Through Nissan Ambition 2030, its semipermanent imagination announced successful 2021......

General Motors (GM)/Chevrolet

On January 31 General Motors reported:

GM and Lithium Americas to create U.S.-Sourced lithium accumulation done $650 cardinal equity finance and proviso agreement....."

On January 31 General Motors reported:

GM Releases 2022 fourth-quarter and full-year results, and 2023 guidance. General Motors Co. (NYSE: GM) coming reported fourth-quarter 2022 gross of $43.1 billion, nett income attributable to stockholders of $2.0 cardinal and EBIT-adjusted of $3.8 billion. GM's full-year 2022 gross was $156.7 billion, nett income attributable to stockholders was $9.9 cardinal and EBIT-adjusted was a grounds $14.5 billion. Results were astatine nan high-end of nan company's revised EBIT-adjusted guidance range......

On February 9 General Motors reported:

GlobalFoundries and GM denote semipermanent nonstop proviso statement for U.S. accumulation of semiconductor chips.

On February 17 Bloomberg reported: "GM's beardown motortruck income are backing this year's EV income Blitz, Barra says...."

On February 18 Bloomberg reported:

General Motors digs into mining business to lead title for EV metals...... The US automaker is competing for a liking successful Vale's guidelines metals unit, group acquainted pinch nan matter said this month. A woody whitethorn springiness GM entree to nan Brazilian mining giant's copper and nickel resources that are cardinal to making EV batteries......Last month, it bought a $650 cardinal stake successful Lithium Americas to thief create Nevada's Thacker Pass mine......In October, GM invested $69 cardinal successful Australia's Queensland Pacific Metals, a shaper of nickel and cobalt...... "We'll proceed to activity pinch galore group successful nan industry, particularly successful lithium and nan different captious minerals," CEO Mary Barra said.

Polestar Automotive Holding UK Limited (PSNY)

On February 1 Polestar reported: "Vitesco, Stora Enso and six different caller partners subordinate Polestar 0 project."

On February 22 Polestar reported:

New year, caller me: Polestar 2 exemplary twelvemonth 2024.....New batteries connection longer scope and quicker charging. A complete drivetrain overhaul includes nan adjacent procreation of electrical motors pinch much power, improved capacity and for nan single-motor versions, rear-wheel thrust (RWD). A first successful a Polestar.....

Polestar 2 Model Year 2024

Polestar 2 Model Year 2024

Polestar

Beijing Automotive Group Co. (BAIC)(includes Arcfox) [HK:1958) (OTC:BCCMY)

On February 1 BAIC reported: "BAIC GROUP and Bosch signed a strategical practice agreement."

On February 8 BAIC reported: "ARCFOX charging heap won nan Gold Award of International Design Awards [IDA]."

Lucid Group (LCID)

On February 9 Lucid Group reported: "Lucid announces $7,500 EV in installments connected nan acquisition of prime Lucid Air models."

On February 22 Lucid Group reported: "Lucid announces 4th fourth and afloat twelvemonth 2022 financial results, exceeds yearly accumulation guidance pinch 3,493 vehicles successful Q4 and 7,180 successful nan afloat twelvemonth 2022." Highlights include:

  • "3,493 vehicles produced successful Q4, up 53 percent sequentially.
  • 7,180 vehicles produced successful 2022, exceeding yearly accumulation guidance of 6,000 to 7,000 vehicles.
  • Q4 gross of complete $257M and yearly gross of complete $608M.
  • Ended nan 4th pinch astir $4.9B full liquidity.
  • 2023 accumulation guidance of 10,000 to 14,000 vehicles."

Rivian Automotive (RIVN)

On February 2 Reuters reported: "Exclusive: EV shaper Rivian to trim 6% of jobs amid value warfare -internal memo."

On February 28 Rivian Automotive reported:

Q4 2022 Rivian Shareholder Letter.....Production and deliveries: Total revenues for nan 4th fourth 2022 were $663 million, driven by nan transportation of 8,054 vehicles. For fiscal twelvemonth 2022, full revenues were $1,658 million, supported by 20,332 full conveyance deliveries. We produced 10,020 vehicles during nan 4th fourth of 2022 and 24,337 vehicles for fiscal twelvemonth 2022.

On February 28 Rivian Automotive reported:

Rivian R1T earns highest restitution ranking of immoderate conveyance successful 2023 J.D. Power U.S. Electric Vehicle Experience Ownership Study.

On March 1 Reuters reported:

Rivian shares autumn arsenic proviso concatenation snarls hamper accumulation forecast. Rivian......forecast 2023 accumulation good beneath analysts' estimates arsenic it grapples pinch lingering proviso concatenation bottlenecks, and announced a callback of much than 12,700 vehicles, sending its shares down much than 8%.

Toyota (NYSE:TM)/ Lexus

On February 21 Reuters reported:

Toyota will commencement electrical SUV accumulation successful US arsenic early arsenic 2025 -Nikkei.....Toyota Motor Corp (7203.T) will statesman producing mid- to large-sized electrical sports inferior vehicles (SUVs) astatine its Kentucky works arsenic early arsenic successful summertime 2025, aiming for monthly output of much than 10,000 by nan year's end, nan Nikkei business regular reported connected Tuesday.

Tata Motors (TTM) group (Jaguar, Land Rover)

On February 20 Tata Motors reported:

Tata Motors and Uber motion an MOU for XPRES-T EVs. 25,000 EVs to beryllium inducted into Uber India's Premium Category service.

On February 23 Reuters reported: "India's Tata Motors successful talks to raise $1 bln via liking waste successful EV business - Report."

GreenPower Motor Company Inc. [TSXV:GPV] (GP)

On February 14 GreenPower Motor Company Inc. reported:

GreenPower reports grounds gross of $12.8 cardinal and 101 conveyance deliveries for fiscal 3rd 4th 2023.....

On February 22 GreenPower Motor Company Inc. reported:

GreenPower all-electric vehicles eligible for commercialized cleanable conveyance in installments of up to $40,000 nether nan Inflation Reduction Act.....

Workhorse Group Inc. (WKHS)

No important news for nan month.

Lion Electric (LEV)

On February 13 Lion Electric reported:

Lion Electric announces North American Agreement pinch Mitsubishi HC Capital Canada and ENGS Commercial Finance Co. to supply financing for all-electric buses and medium- and heavy-duty trucks done LionCapital Solutions.....

Nikola Corporation (NKLA)

On February 7 Nikola Corporation reported:

Nikola Tre FCEV receives CARB HVIP inducement eligibility. Fleets eligible for $240,000 to $288,000 successful California incentives per truck.....This support will now alteration customers of Nikola's Tre FCEV to entree a point-of-sale inducement starting astatine $240,000 and ranging up to $288,000 per truck, successful 2023. Customers will besides beryllium eligible for a $40,000 cleanable commercialized conveyance taxation in installments from nan national authorities owed to nan transition of nan Inflation Reduction Act.

On February 22 Nikola Corporation reported:

Nikola and E.ON motion collaboration statement pinch Richter Group to decarbonize their heavy-duty fleet successful Germany.

On February 23 Nikola Corporation reported: "Nikola Corporation reports 4th fourth and afloat twelvemonth 2022 results." Highlights include:

    • "Reported GAAP nett nonaccomplishment per stock of $0.46 and non-GAAP nett nonaccomplishment per stock of $0.37 for Q4 2022......
    • On way to beryllium first to marketplace and commercialize substance compartment electrical vehicles (FCEVs) pinch deliveries expected successful Q4 2023. Received Tre FCEV orders for up to 75 from Plug Power and 15 from Biagi Brothers......

Honda [TYO:7267] (HMC) (OTCPK:HNDAF) AFEELA (Sony Honda Mobility JV)

On February 27 Honda reported:

Honda and Ascend Elements scope basal statement to collaborate toward unchangeable procurement of recycled lithium-ion artillery resources successful North America.....

On March 1 Honda reported: "LG Energy Solution and Honda break crushed for caller associated task EV Battery Plant successful Ohio." Highlights include:

  • ".....New renderings connection first look astatine nan caller EV artillery facility, an first $3.5 cardinal finance projected to scope $4.4 cardinal overall.
  • Construction group to quickly standard up truthful that nan installation tin beryllium completed by nan extremity of 2024 successful support of nan commencement of wide accumulation astatine nan extremity of 2025......"

Lordstown Motors (RIDE)

On February 23 Lordstown Motors reported:

Lordstown Motors announces accumulation and transportation region to reside value issues, voluntary recall....

Mazda (OTCPK:MZDAY)

No electrical conveyance news for nan month.

Fisker Inc. (FSR)

On February 10 Seeking Alpha reported:

Fisker banal falls arsenic cardinal supplier warns connected costs......key supplier Magna International (NYSE:MGA) warned that proviso concatenation issues persist and margins stay nether pressure...... semiconductor proviso constraints......Our business is facing further inflationary input costs impacts compared to 2022, particularly successful labour and power arsenic good arsenic little scrap revenue." He added that inefficiencies successful European accumulation hampered profit performance.

On February 23 Fisker reported: "Fisker announces ChargePoint arsenic North American partner for nationalist charging solutions."

On February 27 Fisker reported: "Fisker Inc. announces 4th fourth and fiscal twelvemonth 2022 financial results." Highlights include:

  • "Q4 2022 and full-year 2022 operational results amended than expectations; full-year 2022 full spending of $702 million, beneath nan $715 cardinal to $790 cardinal anticipated range.
  • Over $736 cardinal rate equilibrium astatine twelvemonth extremity 2022, up of expectations, excluding astir $28 cardinal of VAT receivables delayed to 2023.
  • Consumer marque consciousness continues to build. Fisker Ocean reservations and orders proceed to increase, totaling astir 65,000 arsenic of February 24, 2023.
  • .....Consumer deliveries should commence soon aft certification is received.
  • Since SOP, Fisker built 56 vehicles including 15 vehicles for Magna's fleet, successful usage for information collection, improvements and validating further features to beryllium added successful months to come.
  • Provided 2023 forecasts to suppliers, placed patient orders for nan components for nan first 300 vehicles, and partial 2Q long-lead components.
  • European and US location delivery, service, trade-in, and nationalist charging partners nominated. Over 20 showrooms, Centers+ (showroom, service, deliveries), conveyance processing centers, and work and pickup locations are either secured aliases successful negotiations successful Europe and US.
  • First drivable Fisker PEAR prototype completed up of scheme successful December 2022. $29,900 guidelines value connected target.
  • Forecast 8-12% yearly gross separator and perchance affirmative EBITDA for 2023. 2023 non-GAAP SG&A, R&D, and superior expenditure guidance initiated astatine $535-$610 cardinal reflecting benefits of asset-light exemplary and prudent liquidity management."

Arrival (ARVL)

On February 21 Arrival reported: "Arrival announces a $50m equity superior committedness and exchanges $121.9m of indebtedness for equity."

Three instrumentality EV companies

Arcimoto Inc. (FUV)

On February 21 GlobeNewswire reported:

Arcimoto to statesman 2023 conveyance accumulation for outpouring deliveries. 2023 conveyance deliveries to commencement successful March pinch caller features and improvements.

Electrameccanica Vehicles Corp. (SOLO)

On February 17 Electrameccanica Vehicles Corp. reported:

Electrameccanica announces voluntary recall.....approximately 428 SOLO (G3) vehicles, exemplary years 2021, 2022 and 2023.

EV & artillery ETF

  • The Amplify Lithium & Battery Technology ETF (BATT) is simply a wide based EV related money worthy considering. It is presently a trading connected a PE of 15.05. On their website they state: "BATT is simply a portfolio of companies generating important gross from nan development, accumulation and usage of lithium artillery technology, including: 1) artillery retention solutions, 2) artillery metals & materials, and 3) electrical vehicles.

Other EV aliases EV related companies

Other EV companies we are pursuing see Envirotech Vehicles (EVTV), 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 & Mahindra (OTC:MAHDY), Niu Technologies (NIU), Proterra (PTRA), Qiantu Motor, Sono Group N.V (SEV), Subaru (OTCPK:FUJHY), Suzuki Motor Corp. [TYO: 7269] (OTCPK:SZKMY) (OTCPK:SZKMF), Vinfast, WM Motor, and Zhi Dou (private).

The list of countries and cities banning (or readying to ban) petrol and diesel vehicles see astatine least:

  • Norway (2025); UK, Netherlands, Denmark, Sweden, Iceland, Greece, Ireland, Israel (2030); Scotland (2032); Hong Kong (2030-40); EU, Germany, Japan, Canada (2035); France, Spain, Egypt, Taiwan, Singapore, India, New Zealand and Poland (2040).
  • Rome (2024); Athens, Paris, London, Stuttgart, Mexico City, Madrid (2025); Amsterdam, Brussels, Hainan (2030); California, New York, Quebec Province (2035); Sao Paolo, Seoul (2040).

Note: Wikipedia has an fantabulous database showing nan shape retired of fossil fuels successful various cities and countries.

ICE conveyance phase retired target dates

ICE conveyance shape retired target dates

BloombergNEF

Conclusion

January 2023 world plugin electrical car income were 662,000 up 10% YoY and reached 11% world marketplace share; 26% stock successful China, 17% successful Europe, and nary information for January (Sept. 2022 was 7.4%) for nan USA.

Highlights for nan period were:

  • Rho Motion forecasts complete 14 cardinal world BEV and PHEV income successful 2023.....BloombergNEF expect 13.6 cardinal plug-in rider conveyance income successful full for this year.
  • Lotus spins disconnected EV section successful $5.4 cardinal SPAC deal.
  • Vietnam's VinFast is connected way to commencement accumulation successful nan U.S. successful 2024.
  • California plug-in car income surged to 24% marketplace stock successful Q4 2022.
  • Hamburg to prohibition fossil-powered vehicles from its taxi operations successful 2025.
  • Hina Battery becomes 1st artillery shaper to put sodium-ion batteries successful EVs successful China. The Sehol E10X has a starting value of RMB 46,900 (US$6,810).
  • BYD sold 151,341 vehicles successful January, up 62% YoY. Plans $1.2 bln EV artillery works successful cardinal China. BYD enters luxury EV marketplace pinch Yangwang SUV priced up to $200,000.
  • Tesla 2023 Investor Day was agelong connected imagination and a reappraisal of anterior achievements, but short connected specifics astir immoderate caller Tesla products aliases services. The adjacent Tesla Gigafactory will beryllium successful Mexico.
  • Geely Auto launches caller premium electrified merchandise bid - Geely Yinhe.
  • Stellantis delivers grounds afloat twelvemonth 2022 results; Global BEV income up 41%. Approves stock buyback programme of up to €1.5 billion.
  • BMW Group finance of € 800m successful Mexican accumulation tract for BEVs.
  • Ford to build EV artillery works successful Michigan pinch Chinese partner. Adds LFP batteries. Suspends F-150 Lightning accumulation owed to a artillery fire.
  • Li Auto Inc. launches Li L7, a five-seat flagship family SUV.
  • GM and Lithium Americas to create U.S.-sourced lithium production.
  • Rivian to trim 6% of jobs amid value warfare -internal memo.
  • Toyota will commencement electrical SUV accumulation successful US arsenic early arsenic 2025.
  • Honda & LGES break crushed for caller associated task EV Battery Plant successful Ohio.
  • Fisker Ocean reservations ~65,000. Fisker PEAR prototype completed up of plan, $29,900 guidelines value connected target.

As accustomed each comments are welcome.

Editor's Note: This article discusses 1 aliases much securities that do not waste and acquisition connected a awesome U.S. exchange. Please beryllium alert of nan risks associated pinch these stocks.

Editor: Naga



Read other contents from Beritaja.com at
More Source
close