Welcome to the July 2022 edition of Electric Vehicle [EV] company news. July saw plenty of great news, including incredible China e-car sales (28% market share in June), BYD Co dominating China e-car sales, Tesla Model Y the leading e-car seller globally, big announcements from Ford & GM, and some big moves coming from the U.S government to support EVs.
June global electric car sales were a RECORD approaching 1 million units, and hitting an incredible 16% market share! More details below.
Global electric car sales finished June 2022 with 913,000 sales for the month, up 54% on June 2021, with market share of 16% for June 2022, and 12% YTD.
Note: ~72% (not updated recently) of electric car sales YTD were 100% battery electric vehicles (BEVs), the balance being hybrids.
China electric car sales were 565,000 in June 2022, up 132% on June 2021 sales. Electric car market share in China for June was 28%, and 26% YTD.
Europe electric car sales were 219,000 in June 2022, down 8% YoY, reaching 21% market share and 20% YTD. (Europe ICE vehicle sales in June were down 17%). Norway reached 90% share, Sweden 55%, Netherlands 34%, Germany 26%, France 20%, and UK 22% share in June 2022.
USA sales were not reported by CleanTechnica no paywall site; however another report stated: "In Q2, EV sales accounted for 5.6% of the total market, an increase from 5.3% in Q1 and a record high. EV share in Q2 2021 was 2.7%."
Note: The above sales include light commercial vehicles.
Note: An acknowledgement to Jose Pontes and the team at CleanTechnica Sales for their work compiling all the electric car sales quoted above and charts below.
The chart below aligns with our research that electric car sales will really take-off after 2022.
BloombergNEF now forecasts "plug-in electric vehicles sales rise from 6.6 million in 2021 to 20.6 million in 2025" and "by 2025, plug-in electric vehicles represent 23% of new passenger vehicles sales globally, up from just under 10% in 2021".
A team in China has developed the country's first pure solar-powered vehicle... The Tianjin solar vehicle recently made its debut at the sixth World Intelligence Conference and has started a new tour around mainland China. According to local media in China, the solar vehicle was jointly developed in just five months by 42 companies and three universities... The solar module area of this vehicle is 8.1 square meters, far more an SEV like the Lightyear), which is equipped with 5 square meters of cells... and that's a lot.
US crosses the electric-car tipping point for mass adoption. Once 5% of new-car sales go fully electric, everything changes - according to a Bloomberg analysis of the 19 countries that have made the EV pivot.
Vietnam's VinFast taps banks for $4 bln EV factory funding deal. Vietnam carmaker VinFast said it has tapped Credit Suisse (CSGN.S) and Citigroup (C.N) to raise at least $4 billion to build its planned electric vehicle factory in North Carolina and fund its U.S. expansion.
On July 15 Seeking Alpha reported:
Vertical Aerospace receives aircraft pre-order from FLYINGGROUP, forays into business aviation. Vertical Aerospace (NYSE:EVTL) announced that Europe-based FLYINGGROUP, business jet operators, has conditionally pre-ordered up to 50 VX4 aircraft. This is Vertical's first commercial agreement within the business aviation market which increases Vertical's conditional pre-order book to up to 1.4K aircraft with a total value of $5.6B.
Biden says he will act on climate after talks collapse in Senate... "If the Senate will not move to tackle the climate crisis and strengthen our domestic clean energy industry, I will take strong executive action to meet this moment," Biden said in a statement.
On July 20 Bloomberg reported: "India plans $10 billion electric bus contract to curb emissions."
On July 24 Inside EVs reported: "...The world's first fully electric jet ski has arrived."
Germany cuts electric-vehicle subsidies to target smaller cars. Support will end for pricier models in potential blow to Tesla. Mercedes, BMW likely also hit in program to support clean cars. The agreement cuts a cash bonus for e-vehicles costing less than 40,000 euros ($40,500) to 4,500 euros from 6,000 euros, the Economy Ministry said Tuesday in a statement. Cars with a price tag of more than 40,000 euros will get a smaller subsidy, while those sold above 65,000 euros will receive no bonus at all going forward... From 2024, the bonus will drop to 3,000 euros and will only be granted for cars costing less than 45,000 euros. Tesla's Model 3, its cheapest vehicle, starts at 49,990 euros in Germany.
Senate deal includes EV tax credits sought by Tesla, Toyota. Extension win for capped-out companies like GM, Tesla, Toyota... It will allow carmakers to continue offering $7,500 in tax credits for the purchase of new "clean cars" with some conditions: they will need to be built with minerals that are extracted or processed in a country the US has a free trade agreement with, and have a battery that includes a large percentage of components that were manufactured or assembled in North America... Car buyers would also be eligible to receive $4,000 for used clean cars for the first time... Proposed legislation removes prior requirements that called for qualified vehicles to have solely plug-in electric drive motors and a prior 200,000-vehicle per manufacturer cap... The deal also includes a cap on the suggested retail price of eligible vehicles of $55,000 for new cars and $80,000 for pickups and SUVs. Credits would be capped to an income level of $300,000 for a single filing taxpayer and $150,000 for joint filers for new vehicles and $75,000 and $150,000 for used cars... The Senate is set to vote on the proposed legislation next week, after which it will go to the Democrat-controlled House of Representatives.
On July 28 CNBC reported: "Schumer-Manchin reconciliation bill has $369 billion to fight climate change - here are the details." Note: The used EV credit is US$4,000 not US$3,000...
Note: More details here on Twitter including: "This is a big one: Commercial vehicles that weigh OVER 14,000 lbs are eligible for a $40,000 tax credit or 30% of cost of the vehicle (whatever is less). This means the @Tesla Semi will qualify."
BYD is currently ranked the number 1 globally with 15.4% market share YTD. BYD is ranked number 1 in China with 26.9% market share in YTD.
On July 5 Teslarati reported: "BYD "overtakes" Tesla as world's biggest EV maker in 1H22, but there's a catch."
On July 15 Seeking Alpha reported:
Goldman Sachs expects BYD Company's profitability to expand in 2H22... Goldman Sachs maintained BYD's shares traded in Hong Kong on its Conviction Buy list with a price target of HK$405, implying ~38% upside vs. it's last closing price of HK$294.20.
BYD awarded the first ever order for 13-metre low-entry eBuses in Iberia. BYD, the world's leading manufacturer of New Energy Vehicles (NEVs) and power batteries, has recently been awarded an order for 15 electric buses from Empresa de Blas y Cia. S.A.
On July 18 The Driven reported: "BYD to open new "experience centres" for Atto 3, despite delivery delays..."
BYD enters the Japanese passenger vehicle market with three EV models... Three BYD models debuted at the conference - BYD ATTO 3, BYD DOLPHIN, and BYD SEAL.
On July 21 Reuters reported: "China's BYD to start selling electric vehicles in Japan next year..."
China's BYD was written off by Elon Musk. Now it's beating Tesla. The Shenzhen-based electric carmaker sold more than 641,000 vehicles in the first half of 2022.
BYD Seal started sales in China with 530 HP and starting price of 31,200 USD... The Seal is an electric sedan with up to 700 km of range... The main rival of the Seal is the Tesla Model 3.
BYD Sea Lion SUV, Chinese competitor to Tesla Model Y, spotted. Set to be launched in Q3 of 2022, the Sea Lion is a pure electric SUV with a range touted to be above 700 km.
Tesla is currently ranked the number 2 globally with 13.6% global market share YTD. Tesla is number 3 in China with 8.3% market share YTD, noting in June 2022 Tesla Model Y was the number 1 selling EV model in China, UK, and also in Europe. Tesla is still the number 1 electric car seller in the US by far.
On July 4 Electrek reported: "Tesla unveils solar range extender trailer with SpaceX Starlink internet terminal."
On July 20 Seeking Alpha reported:
On July 20 Seeking Alpha reported:
Tesla aims for record production in back half of the year. Elon Musk said on the Tesla earnings call that the automaker aims to produce 40,000 vehicles a week by the end of this year. That level of production would mark a 25% jump from a recent high of about 30,000 vehicles a week.
Note: 40,000 per week suggests 2023 sales can exceed 2 million. Our model current forecasts Tesla to produce 2.1 million EVs in 2023. Details here.
Tesla Giga Shanghai output expected to reach ~3,000 vehicles per day after factory upgrades... Tesla China finished upgrading the Model Y assembly line on July 16. It is currently completing upgrades to the Model 3 production line.
Investors can read our past article: "Tesla - A Look At The Positives And The Negatives", where we rated the stock a buy. It was trading at USD 250 (post 5:1 stock split is equivalent to USD 50). Investors can also read the latest Tesla Trend Investing Tesla article here.
SGMW (SAIC-GM-Wuling Automobile) is number 3 globally with 8.6% market share YTD. SAIC/GM/Wulin JV (SGMW) is 2nd in China with 13.4% share YTD.
On July 26 SAIC Motor Corporation Limited reported:
SAIC Motor's new EV model to debut in Europe. The first batch of SAIC Motor's new EV model - MG4 ELECTRIC - departed from Haitong port in Shanghai on a ro-ro ship, and headed to Europe on July 21. MG4 ELECTRIC was unveiled by SAIC Motor, China's largest auto maker, and is built with the carmaker's new MSP platform that is designed solely for all-electric cars. It sports the company's One Pack battery with an energy density that can reach 180 Wh/kg. Equipped with an active safety system and a data security protection system... The new model also features a "zero thermal runaway" system to prevent it from catching fire or overheating. MG4 ELECTRIC has reached the international top level in terms of design, safety, environmental protection, and quality, and is expected to be launched in Europe in fall of this year.
Source: SAIC Motor Corporation Limited website
'Volkswagen Group' is currently ranked the number 4 top-selling global electric car manufacturer with 8% market share YTD, and 1st in Europe with 18.6% market share YTD.
On July 7 Volkswagen reported: "Ground breaking in Salzgitter: Volkswagen enters global battery business with "PowerCo"." Highlights include:
VW and Audi to recycle EV batteries through Tesla cofounder's company... Redwood Materials, Tesla cofounder JB Straubel's battery recycling company... Redwood estimates it can recover over 95% of the high-value metals in those lithium-ion packs, including nickel, cobalt, lithium and copper.
On July 15 Seeking Alpha reported: "Volkswagen battery unit PowerCo reportedly ramping up production ahead of IPO."
On July 15 Volkswagen reported: "Volkswagen Group delivers 27 percent more all-electric vehicles in first half year." Highlights include:
Porsche believes it can make more profit selling electric cars. The German sports-car maker planning to list this year expects more price power for its EVs.
On July 22 Electrek reported: "Volkswagen Group CEO Herbert Diess is stepping down, Porsche's Blume to take over."
On July 26 Volkswagen reported: "Volkswagen starts U.S. assembly of all-electric ID.4 flagship in Chattanooga, Tennessee."
Geely/Volvo is currently ranked number 5 in the global electric car manufacturer's sales ranking with 5.6% global market share YTD.
On July 1 Volvo Cars reported:
Volvo Cars gears up for long-term sustainable growth with new Slovakia electric car manufacturing plant... The new state-of-the-art plant will be climate neutral and build only electric cars, underpinning the company's ambition to become fully electric by 2030 and climate neutral by 2040,
On July 4 Volvo Cars reported:
Volvo Cars reports sales of 49,904 cars in June. Volvo Cars today reported sales of 49,904 cars in June, down 26.9 per cent compared with the same month last year. Demand for the company's cars remains robust, especially for its Recharge line-up of electrified cars.
Stellantis Group is currently ranked the number 6 in the global electric car manufacturer's sales with 5.5% global market share YTD. Stellantis is ranked 2nd in Europe with 16.6% market share YTD.
On July 15, Stellantis N.V. reported: "Stellantis and Dongfeng agree on a share repurchase framework."
On July 18, Stellantis N.V. reported:
Stellantis implements asset-light approach to grow Jeep® brand in China and negotiates termination of local Joint Venture with GAC Group.
On July 28, Stellantis N.V. reported:
Stellantis posts record first half 2022 results with 14.1% AOI margin(1), €8.0 billion net profit and €5.3 billion industrial free cash flows(2); Global BEV sales up nearly 50%, among leaders in EU30 BEV sales... Global BEV sales up nearly 50% y-o-y to 136k units.
Hyundai-Kia Group is currently ranked number 7 in the global electric car manufacturer's sales ranking with 5.4% market share YTD. Hyundai-Kia Group is ranked 3rd in Europe with 11.5% market share YTD.
Kia announces June 2022 global sales results. Kia to continue creating sales momentum and enhancing profitability through new models, such as the Kia EV6.
On July 13 Hyundai reported: "Hyundai IONIQ 6 electrified streamliner debuts with extended range and innovative personal space." Highlights include:
Hyundai unveils new model of cult EV that's taking on Tesla... Ioniq 6 prices for customers in South Korea start at $42,000."
Hyundai Motor's N brand unveils two rolling Lab concepts, signaling high-performance vision for electrification era... N Vision 74 is a high-performance hydrogen fuel cell hybrid model...
On July 18 Hyundai reported: "Hyundai Motor Group's Supernal unveils eVTOL Vehicle Cabin Concept at 2022 Farnborough International Airshow."
Rolls-Royce & Hyundai Motor Group sign MOU to lead the way in the advanced air mobility market using all-electric propulsion and hydrogen fuel cell technology.
Hyundai plans a new small electric car for less than $20,000... However, it sounds like only European markets might get access to it.
Hyundai Motor announces 2022 Q2 business results. Hyundai's Q2 full-electric model sales jumped 49% year on year to 53,126 units.
Kia announces 2Q 2022 business results. 2Q all-electric model sales nearly doubled to 44,000 units with overall eco-friendly vehicle sales increasing 79% to 133,000 units year-on- year...
BMW Group is currently ranked the number 8 global electric car manufacturer with 3.8% global market share YTD. BMW Group is ranked 4th in Europe with 11.2% market share YTD.
On July 6 The Driven reported:
BMW begins production of fully electric i7... The BMW Group has invested over €300 million to modify the BMW Group Plant Dingolfing into a BMW iFactory where it can manufacture the BMW 7 Series, billed as the first luxury sedan in the world to offer customers a choice between all-electric, ICE, and hybrid drive.
On July 8, BMW Group reported: "At the forefront of electromobility: BMW Group doubles global sales of fully-electric vehicles in first half-year." Highlights include:
Daimler-Mercedes is ranked number 9 globally with 3% market share.
On July 11 Mercedes Blog reported:
Sales of Mercedes-EQ Electric Models increased by 90% in Q2 of 2022... to 23,500 units, despite a challenging economic climate. In contrast, total sales fell by 16% in both the second quarter and the first half of 2022.
On July 12 Mercedes Blog reported: "New base version Mercedes EQE 300 starting at 66,402 euro..."
On July 15 Mercedes Blog reported:
Aston Martin to use Mercedes Electric Platform for its first electric model planned for 2025... Aston Martin's intention is to use this platform for more electric models and wants all its mainstream models to go electric by 2030.
Daimler Truck starts production of second electric truck, the eEconic... The vehicle will be produced at the same site as the truck and bus maker's first electric model, the heavy-duty truck eActros, in Woerth, Rhineland-Palatinate.
GAC Group is ranked number 11 globally with 2.4% market share YTD.
On July 4 Batteries News reported:
GAC Group releases new battery technology. GAC Group unveiled its next-generation super-energy lithium iron battery, based on microcrystalline technology. Cailian Press learned from sources familiar with the matter that the technology would be installed in the latest GAC AION models as early as next year. Compared with the current mass-produced lithium iron phosphate cells on the market, super-energy lithium iron battery increases the cell mass energy density by 13.5%, the volume energy density by 20%, and the -20°C low temperature capacity by about 10%.
On July 27 Gasgoo reported: "GAC AION announces establishment of energy subsidiary."
On July 1 XPeng Inc. reported: "XPeng announces vehicle delivery results for June and second quarter 2022." Highlights include:
On July 12 Great Wall Motors reported:
...GWM is actively exploring the European market. Recently, ORA FUNKY CAT and WEY COFFEE 01 PHEV appeared at the 35th International Electric Vehicle Symposium (EVS35) in Norway, and released the brand concept to show the advantages of GWM in the field of electric transportation. EVS35 symbolized the starting point for GWM to enter the market of Norway. Meanwhile, WEY COFFEE 01 PHEV has also embarked its journey into the market of Germany... GWM is taking practical actions to demonstrate Chinese new energy and intelligent automobile products to potential users of high-end markets in Europe.
On July 12 Car News China reported: "Great Wall Motors enters Malaysia; Will focus on EVs..."
Ford Otosan takes Ford plant in Craiova into electric future... Ford Otosan to continue producing the Ford Puma, and the new all-electric Puma in 2024.
On July 21 Ford reported: "Ford releases new battery capacity plan, raw materials details to scale EVs; On track to ramp to 600k run rate by '23 and 2m+ by '26, leveraging global relationships." Highlights include:
Ford reassures investors it has the battery supplies it needs for ambitious EV goals... Ford will begin offering lower-cost LFP batteries in its Mustang Mach-E and F-150 Lightning. Chinese battery giant Contemporary Amperex Technology will help it get to a rate of 2 million EVs per year by 2026.
Li Auto Inc. June 2022 delivery update. Li Auto Inc... a leader in China's new energy vehicle market, today announced that the Company delivered 13,024 Li ONEs in June 2022, up 68.9% year over year. This brought the Company's second quarter deliveries to 28,687, representing a 63.2% year-over-year increase. The cumulative deliveries of Li ONE have reached 184,491 since the vehicle's market debut in 2019.
On July 14 Bloomberg reported: "Li Auto's heady EV sales target rests on winning over chipmakers." Highlights include:
Supply chain is one of 'biggest challenges,' co-founder says."
On July 1 NIO Inc. reported: "NIO Inc. provides June and second quarter 2022 delivery update." Highlights include:
Company achieved record-high monthly deliveries
On July 12 Renault Group reported: "Renault Group continues to pursue a sales policy focused on value creation through the renewal and electrification of its product ranges." Highlights include:
On July 12 Renault Group reported: "Renault Group and Vitesco Technologies join forces to develop power electronics for electric and hybrid powertrains."
On July 15 Go Auto reported: "Nissan Leaf to be phased out..."
On July 18 Renault Group reported: "Renault Group and Phoenix Mobility launch the electric retrofit of commercial vehicles at the Re-Factory in Flins..."
On July 29 Renault Group reported: "2022 first half results - Renault Group upgrades its 2022 financial outlook and accelerates its transformation."
On July 1 GM reported: "GM continued to gain U.S. market share and extended its truck leadership in the second quarter." Highlights include:
On July 8 GM reported: GM delivers 484,000 vehicles in China in the second quarter." Highlights include:
GM and pilot company to build out coast-to-coast EV fast charging network. Powered by EVgo eXtend, this network will help enable long-distance electric travel across the U.S... This network of 2,000 charging stalls, co-branded "Pilot Flying J" and "Ultium Charge 360", will be powered by EVgo eXtend and open to all EV brands at up to 500 Pilot and Flying J travel centers.
GM reveals electric Chevrolet Blazer priced starting at $45,000. The 2024 Blazer EV is expected to arrive in showrooms beginning next summer...
GM chosen to provide hummer EV to US army for demo and testing. EVs may be a good option for police departments and the military, and the Hummer EV could be a top choice for military use.
On July 25 Seeking Alpha reported:
US Energy Dept. set to announce $2.5B loan to GM, LG Energy for battery production- Reuters... the new loan to Ultium will mark the first loan offered specifically for battery cell manufacturing... The Lansing factory is set to open in late 2024. A timeline for the new facilities funded by the Department of Energy was not disclosed.
GM signs agreements with suppliers, on course to reach 1 million EV capacity by 2025. General Motors Co said on Tuesday it had signed multi-year agreements with LG Chem Ltd and Livent Corp to secure key raw materials used in manufacturing batteries for electric vehicles. With the latest deals, GM said it had lined up supplies for all battery raw materials, including lithium, nickel, cobalt and cathode active material, and was on course to reach its goal of producing 1 million EVs annually in North America by end-2025...
Toyota plans $1.8 bln Indonesia investment to build electric vehicles. Japanese carmaker Toyota Motor Corp (7203.T) plans to invest 27.1 trillion rupiah ($1.80 billion) in Indonesia in the next five years to produce electric vehicles (EVs), Indonesia's economics ministry said on Wednesday. The Southeast Asian country aims to become a global hub for producing and exporting EVs through processing its rich supplies of nickel laterite ore for use in lithium batteries.
On July 18 Arana EV reported: "Arcfox Alpha-S is the first production car with "Huawei Inside"..."
Rivian confirms it's on track to build 25,000 electric vehicles this year. Electric-vehicle startup Rivian Automotive said it produced more than 4,000 vehicles in the second quarter...
On July 21 ElectricCarsReport reported: "Amazon's electric delivery vehicles from Rivian roll out across the U.S."
Rivian CEO eyes expansion into broader range of commercial electric vehicles. Rivian Automotive Inc is planning a broader range of electric commercial vehicles in a variety of shapes and sizes, and expects to be building millions of EVs a year at multiple plants after 2030, Chief Executive R.J. Scaringe said.
No significant news for the month.
Polestar reports 125% sales increase for first half of 2022 and reaffirms sales guidance for full year. The Swedish company, which listed on the Nasdaq New York stock exchange in late June, delivered approximately 21,200 cars in the first six months of 2022, more than doubling deliveries from 9,510 cars in the same period in 2021 - an increase of almost 125%.
On July 1 Tata Motors reported:
Tata Motors registered total sales of 2,31,248 units in Q1 FY23, Grows by 101% over Q1 FY22... Electric vehicle sales attained new heights with quarterly sales of 9,283 in Q1 FY23 and highest-ever monthly sales of 3,507 units in June'22...
On July 12 Tata Motors reported: "Tata Motors introduces NEXON EV PRIME with exciting new intelligent features."
On July 22 Tata Motors reported: "Tata Motors bags prestigious order of 1500 electric buses from Delhi Transport Corporation under the CESL tender..."
On July 25 Tata Motors reported: "Tata Motors signs an MoU with EC Wheels India Pvt Ltd for the biggest EV fleet deployment in Eastern India..."
On July 1 GreenPower Motor Company Inc. reported: "GreenPower reports revenue of $17.2 million for fiscal year ended March 31, 2022, an increase of 30% over last year." Highlights include:
On July 8 GreenPower Motor Company Inc. reported: "GreenPower acquires Lion Truck Body adding capacity for EV Truck Bodies and reducing delivery times."
On July 20 GreenPower Motor Company Inc. reported: "GreenPower vehicles eligible for up to $150,000 in funding from transport Canada's iMHZEV Program."
Investors can also read our Trend Investing article on GreenPower here.
No significant news for the month.
No significant news for the month.
No significant news for the month.
On July 28 Car Expert reported:
2024 Honda Prologue EV teased. The Prologue electric SUV has been teased in clay form ahead of its 2024 launch. It'll be the first model from Honda's GM partnership.
No news for the month.
No significant news for the month.
No significant news for the month.
Fisker announces Fisker finance℠, providing seamless financing options for customers; reaffirms nomination of retail financing partners.
Fisker will showcase the all-electric Fisker Ocean at the 2022 Pebble Beach Concours d'Elegance... Fisker is on track to start production of the Fisker Ocean in November 2022.
You can read a Trend Investing article on Fisker Inc. here, or the European reveal of Fisker Ocean video here.
Arcimoto announces second quarter 2022 vehicle production & deliveries... Arcimoto delivered 41 customer vehicles and produced 41 vehicles for commercial pilot programs and marketing use. The company also produced 20 rental vehicles... "We continue to target 1,000 vehicles produced for the year."
No news for the month.
Other EV companies I am following include 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 & Mahindra (OTC:MAHDY), Mazda (OTCPK:MZDAY), Niu Technologies (NIU), Proterra (PTRA), Qiantu Motor, Sono Group N.V (SEV), (Subaru (OTCPK:FUJHY), Suzuki Motor Corp. [TYO: 7269] (OTCPK:SZKMY) (OTCPK:SZKMF), Tata Motors (TTM) group (Jaguar, Land Rover), WM Motor, and Zhi Dou (private).
The list of countries and cities banning (or planning to ban) petrol and diesel vehicles include at least:
Note: Wikipedia has an excellent list showing the phase out of fossil fuels in various cities and countries.
Source: Lake Resources newsletter courtesy BloombergNEF
On July 21 Reuters reported: "GM, Ford seek U.S. OK to deploy self-driving vehicles without steering wheels."
Baidu unveils autonomous vehicle without steering wheel... with plans to put it to use for its robotaxi service in China next year... "This massive cost reduction will enable us to deploy tens of thousands of AVs across China," Baidu's chief executive Robin Li... "We are moving towards a future where taking a robotaxi will be half the cost of taking a taxi today."... The new vehicle will possess autonomous Level 4 capabilities that need no human intervention, with 8 lidars and 12 cameras alongside the car... Tesla's chief executive Elon Musk said in a conference with investors in April that the company aims to start mass production of its robotaxi without a steering wheel or pedals in 2024.
June 2022 global electric car sales were a new record, up 54% YoY and reached 16% global market share; 28% share in China, 21% in Europe, and no data for June (May was 6.1%, Q2 was 5.6%) for the USA.
Highlights for the month were:
As usual all comments are welcome.
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The Trend Investing group includes qualified financial personnel with a Graduate Diploma in Applied Finance and Investment (similar to CFA) and well over 20 years of professional experience in financial markets. Trend Investing searches the globe for great investments with a focus on "trend investing" themes. Some focus trends include electric vehicles and the lithium/cobalt/graphite/nickel/copper/vanadium miners, battery and plastics recycling, the online data boom, 5G, IoTs, AI, cloud computing, renewable energy, energy storage, space tourism, 3D printing, personal robots, and autonomous vehicles. Trend Investing also hosts a Marketplace Service called Trend Investing for professional and sophisticated investors. The service is information only and does not offer advise or recommendations. See Seeking Alphas Terms of use. https://seekingalpha.com/page/terms-of-use
Disclosure: I/we have a beneficial long 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, BOUGHT VIA WEFUNDER) either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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