Global electric car sales for June 2020 down 22% on June 2019 (third best month in 18). June Europe electric car sales a new record and reached 8.2% market share.
EV market news – EV manufacturers stock prices surge led by Tesla. EU Euro 500b green plan. Joe Biden US$2 trillion plan to tackle climate change. Both plans include EVs.
EV company news – Tesla Q2 profits sets it up for S&P500 inclusion. Volkswagen to set up >150,000 public charging points across Europe by mid-August. Fisker pre-listing merges with SPAQ.
Welcome to the July 2020 edition of Electric Vehicle company news. July was a month of victories for EV leader Tesla (NASDAQ:TSLA), as they released their fourth consecutive profitable quarter thereby becoming eligible to join the S&P 500. Tesla is up 535% in the past year.
Volkswagen climbed two spots in June to the world’s second-largest distributor of electric cars. The other main story is two new directors in the United States for electric vehicles: the merger of Fisker with Spartan Energy Acquisition Corp. as a board in the United States, and the IPO of Li Auto Nasdaq.
Finally, it should be noted that the percentage of the electric car market is expanding rapidly. The June share of 5.5% in China and 8.2% in Europe. Hou the angels the angels the angels!
Worldwide sales of electric cars ended in June 2020 with 230,000 sales in the month (compared to 144600 in May 2020), with a decrease in June 22-2019 (but the third most productive result of the last 18 months), with a market percentage of 3.6% by June 2020 and 2.9% since the beginning of the year. YTD sales have fallen by 16% (conventional car sales have fallen by 28% YTD due to COVID-19).
It should be noted that 68% of all global sales of electric cars in June 2020 were one hundred percent cars with electric batteries (BEVs), the rest are hybrids.
China electric car sales were 91,000 in June 2020, down 6% on June 2019 but the best month so far in 2020 (down due to a high number in the June 2019 rush to beat subsidy cuts). Electric car market share in China for June was 5.5%, and 4.7% year-to-date. A December 2019 report from Reuters stated: “China wants new energy vehicle sales in 2025 to be 25% of all car sales.”
The Osborne effect: why new car sales will be completely electric in six years. In the long run, it is likely to happen when the “ticket price” of electric cars approaches that of their gasoline and diesel counterparts, through new emission standards, technological advances and visitor preferences.
Electric vehicle sales forecast: expect all new sales to BEV since 2026
Source: The Driven courtesy of Professor Ray Wills from Future Smart Strategies
On July 14, Bloomberg reported:
Tesla’s euphoria fuels the inventory boom of electric imitators … Companies whose inventories are being developed with Tesla are a cry for Elon Musk’s sales volume.
U.S.-listed electric-vehicle makers are having a banner year
Waiting in the wings
Joe Biden presents a competitive plan to combat climate change. Joe Biden unveiled Tuesday a proposal to rebuild the economy that focuses primarily on restoring U.S. leadership in the fight against global warming, directs the government’s stimulus efforts toward expanding blank power, and temporarily canceling the abandonment of the Trump administration’s climate efforts. The former vice president called for a major green jobs and environmental justice program that would invest $2 trillion in his first term in the structure of a new renewable energy infrastructure. The finish would move to the expansion of the high-speed railway, the structure of electric cars and the significant construction in the use of wind, sun and other renewable technologies to generate electricity, among other objectives. Under Biden’s plan, the United States would absolutely end the use of oil, coal, and other fossil fuels to generate electricity until 2035. It would return to the country at zero net greenhouse fuel emissions until 2050.
On July 21, Bloomberg reported:
The EU approves the largest green stimulus in history with a $572 billion plan. European governments have approved the most ambitious climate replacement plan to date, agreeing to make a contribution of more than 500 billion euros ($572 billion) to everything from electric cars to renewable energy and agriculture.
On July 22, Tampa Bay Times reported:
Florida moves ahead with more electric-vehicle plans…..Republican Gov. Ron DeSantis announced $8.5 million for new fast electric charging stations along Interstates 75, 4 and 95 earlier this month. The stations, to be built this summer, will span more than 1,200 miles and increase the number of publicly accessible fast chargers in Florida by more than 50%.
On July 22, AINonline reported:
Rethink of Aviation’s future boosts the case for electric aircraft. In the UK, Prime Minister Boris Johnson has gone on record in committing government support for the industry to make the move toward carbon-neutrality a key plank of its long-term survival strategy. On June 30, he pledged that the UK will lead efforts to get a long-haul, zero-emissions airliner in service by 2050 under an ill-defined project dubbed JetZero – At last count, about 250 companies have plans to develop eVTOL aircraft of various shapes and sizes. Others seek early adoption of electric aviation through new fixed-wing models that would offer greater range than the short hops promised by the eVTOL crowd.
Record sales of electric vehicles in Europe. In fact, this is a record performance, reaching the june add-on percentage at 8.2% (4.4% of all-electric cars /E&V), bringing the 2020 add-on percentage to 7.9% (4.3% for BEV only). The market share of 7.9% more than doubled the 3.6% result in 2019 and is very close to the 10% disruptive bar.
Tesla Inc. (NASDAQ: TSLA)
Tesla recently ranked No. 1 in the world with a 19% percentage of the world’s place of place. Tesla is number 1 in Europe with a 9% market place percentage, and number 2 in China with a 14% percentage market place. Tesla is supposed to remain the leading distributor of electric cars in the United States.
On July 2, Seeking Alpha reported:
Tesla is renewing its plan for Giga Berlin. Tesla’s plans for its German plant now exclude the manufacture of batteries and plastic parts, the German newspaper Sueddeutsche Zeitung reports, publicly presenting projects to be carried out.
On July 9, Bloomberg reported:
Musk says Tesla is “very close” to the progression of auto-self-driving cars: the CEO is confident that features will evolve this year.
On July 15, Business Insider reported:
Tesla will continue its monstrous career and jump 55% to $2322, the Wall Street corporate said. (Piper Sandler) Sandler raised his Tesla value target from $US939 to $US2,322, implying a potential 55% increase since Monday’s close. The company more than doubled its target of past value, from US$939 to US$2322 on Wall Street… Tesla can deliver only about four million cars by 2025, capturing only about 10% of the market share in the United States, Piper Sandler said.
The design of the Tesla German Gigafactory 4
Source: reference mineral intelligence
On July 22, Seeking Alpha reported:
Tesla: 6% after the quarter benefit prepares you for the inclusion of SP 500. Back in the second quarter, the automotive margin reached 25.4% of sales, only a slight first-quarter mark low of 25.5% and above the last year 18.9% mark. Automaker EV said it recorded a loose money flow of $418 million in the quarter. Tesla says it still aims to deliver 500,000 cars by 2020 and expects Tesla Semi deliveries to begin in 2021 … The production of our existing services continues to improve to meet demand, and we are adding more capacity. Later this year, we will build 3 plants on 3 continents simultaneously.
Tesla will build its next Gigafactory near Austin, Texas. It will be used to build the company’s Cybertruck, its Semi and Model 3 and Model Y for the eastern part of North America.
On July 22, the South China Morning Post reported: “Tesla is reducing chinese consumers’ deposits to $143.”
On July 23, Renew Economy reported:
Musk says Tesla battery and solar business could be worth more than EVs. Founder and CEO Elon Musk, however, says that these investors are overlooking one key part of his business – solar and battery storage – that he says could effectively double the value of the company. Or be worth as much, in itself, as the auto and e-mobility division.
On July 28, Green Car Reports reported:
Tesla sues Rivian over alleged trade-secret theft related to sales, charging network.
On July 29, Reuters reported:
Tesla’s Musk says open to supplying batteries to other automakers… Chief Executive Officer Elon Musk said on Tuesday that the company is open to licensing software and supplying powertrains and batteries.
On July 30, Renew Economy reported:
Tesla heads towards trillion-dollar valuation as Big Auto stalls on EVs. The stock market is making another major re-appraisal of the potential worth of electric car maker and energy storage developer, Tesla, as it dawns on analysts that this company can no longer be considered just a flash in the pan. Tesla, they now admit, is going to be a very, very big company.
Investors can read my June 2019 Blog post: “Tesla – A Look At The Positives And The Negatives”, where I rated the stock a buy. It was trading at USD 196.80.
Volkswagen Group [Xetra:VOW](OTCPK:VWAGY) (OTCPK:VLKAF)/ Audi (OTCPK:AUDVF)/ Lamborghini/ Porsche (OTCPK:POAHF)/ Skoda
Volkswagen factory produces last ever combustion engine car, shifts to EVs only. A factory owned by Volkswagen in Germany’s “City of Cars,” Zwickau, has produced its last ever combustion engine vehicle, closing a 116-year chapter on fossil-fuelled cars and switching to electric vehicle production, only.
On July 8, Green Car Reports reported: “Report: Audi A9 EV due in 2024 could be a high-efficiency flagship.”
On July 21, The Star reported:
Volkswagen to set up over 150,000 public charging points across Europe… by mid-August. The app would provide information on charging prices and the availability of charging points. Additionally, the app would also show charging points that operate on green power only.
On July 23, Green Car Reports reported:
The VW ID.4 electric crossover is expected to be delivered until the end of 2020, with production in the U.S. In 2022. Despite the ongoing coronavirus pandemic, the Volkswagen ID.4 electric crossover is expected to begin delivery later this year. An expansion of the VW plant in Chattanooga, Tennessee, is also planned, which will allow the construction of ID.4 later, by 2022.
Note: Volkswagen ID.3 deliveries are expected to begin in early September 2020.
BMW (OTCPK: BMWYY), Mini
BMW is currently ranked the number 3 global electric car manufacturer with 6% global market share. BMW is number 2 in Europe with 9% market share.
On July 3, Medium.com reported: “BMW has partnered with the State Grid EV Service, an EW partner, to expand the cargo infrastructure.”
On July 16, Green Car Reports reported:
Northvolt of Sweden will earn $2.3 billion in electric car batteries for BMW. While accelerating the production of electric cars, BMW has signed a battery deal with the Swedish Northvolt. BMW plans to buy 2 billion euros ($2.3 billion) of batteries in Northvolt from 2024 …..
BYD recently ranked no. four in the world with a 6% share of the world market and No. 1 in China with a 16% share of market location.
On July 1, BYD reported:
BYD unveils Tang EV to Norway passenger car market…..BYD is also reaffirming its commitment to a wider European expansion program when it will bring pure-electric van and truck models to selected commercial vehicle markets.
BYD Tang EV compact SUV in Norway
The source
On July 2, BYD reported:
The first BYD eBus for Vy Buss went on the road in Norway. Array… This first installment, starting a primary fleet renewal program that adds 55 eBus BYDArray …
On July 3, BYD reported:
BYD accelerates eBus deliveries when Unibuss 23 is released. BYD, Europe’s leading eBus manufacturer, has reaffirmed its commitment to public transport consumers after the delivery of 23 new 12-metre BYD EBus to Unibuss, one of Norway’s leading public transport providers.
12-meter EBus BYD in Oslo (Image source: Unibuss)
BYD Han EV’s flagship series is officially on sale. The new EV series is BYD’s flagship that provides the world-class array of luxury sedans. The Han EV will be sold in China in first Array.
The Han series sets new criteria for international cars with their safety, functionality and luxury.
Beijing Automotive Group Co. (BAIC) [HK: 1958) (OTC: BCCMY), SAIC Motor Corporation Limited [SAIC] [CH: 600104] (SAIC Roewe, MG, Baojun, Maxus)
SAIC is global number 5 with 5% market share, and number 3 in China with 10% market share.
BAIC recently ranked 17th in the world with a market share of 2%.
On July 9, SAIC announced: “SAIC Motor promotes the integration of automobiles and AIArray. SAIC Motor has sold more than 1.7 million cars connected to the Internet.”
On July 28, Just Auto reported: State Grid, BAIC, joined forces in the electric vehicle charging network. “
Nissan bets on new Ariya electric SUV to symbolize its revamp, but sales plans modest…..Featuring Nissan’s latest self-driving technologies, the Ariya has a driving range comparable to Tesla models and will sell from around 5 million yen ($47,000). The long-range version of the Ariya will be able to travel up to 610 kilometres on a single charge, Nissan estimates. That is longer than the Model Y’s 505 kilometres.
Nissan Ariya BEV – Sale in Japan since mid-2021
The source
Geely Automobile Holdings Ltd (OTCPK:GELYY, HK:0175) (includes Polestar), Volvo Cars (OTCPK:VOLVY), Kandi Technologies Group (NASDAQ:KNDI), Proton, Lotus
Volvo recently ranked seventh in the sales ranking of electric car brands with a market share of 4%.
On July 29, Businesswire reported:
Kandi introduces america’s top electric vehicles, announcing a virtual occasion on August 18 to launch pre-sales. The automaker presents “Kandi. Auto EVolution for everyone. Crusade and EV gift.
Kandi. Auto EVolution for all
The source
Hyundai (OTC:HYMTF), Kia (OTC:KIMTF)
Hyundai is currently ranked number 9 in the global electric car manufacturer’s sales ranking with 4% global market share.
Hyundai launches its first electric minibus. The 7,710-mm-long County Electric is equipped with a high-efficiency and high-power 128-kWh lithium-ion-polymer battery that provides a range of 250 km on a full charge.
On July 17, The Driven reported, “Hyundai reaches the 100,000 mark of Kona Electric’s sales.”
On July 29, Green Car Reports reported, “Report: Hyundai can give more flavor to electric vehicle production after Tesla Model 3 sold Kona Electric in Korea.”
Group PSA – Peugeot SA [FR:UG][PA:PEUP](OTCPK:PEUGF) (OTCPK:PEUGY)/Citroen, Fiat Chrysler (NYSE:FCAU)
On July 6, Green Car Reports reported:
Stylish Citroën ë-C4 electric car detailed, positioned for Europe. Citroën is launching an all-electric version of its C4 compact hatchback as part of a redesign of the model…..The electric Citroën ë-C4 swaps the internal-combustion engines for an electric motor, which drives the front wheels, and a 50-kwh battery pack.
Citroën ë-C4
The source
Daimler-Mercedes (OTCPK:DDAIF, OTCPK:DDAIY) (Smart – 50% JV between Daimler and Geely)
On July 21, The Driven reported:
Daimler says new luxury EQS electric vehicle will have more than 700km range. The high-end, yacht-inspired Mercedes-Benz EQS may not only be one of the most luxurious EVs to grace the market, but also have one of the longest driving ranges. The EQS will be the German luxury car maker’s flagship electric vehicle, and will join the EQC luxury electric SUV as part of its EQ series that was first unveiled in Australia in 2018.
Mercedes-Benz VISION EQS
Toyota’s semiconductor battery generation is scheduled for production in 2025, an executive said. Toyota continues to be on track for semiconductor battery production for electric cars in 2025
Concepts presents a review of the progression of battery-powered electric cars at Toyota
The source
General Motors / Chevrolet (NYSE: GM)
On July 13, Green Car Reports reported:
2022 GMC Hummer EV SUT and SUV: everything we know before the full revelation. In the fall of 2021, GM will bring back Hummer, a logo that was once denounced by environmentalists, with a set of zero-emission electric cars for weekend adventurers.
On 16 July, the GM Authority reported:
Chevrolet EV future plans, top points revealed. The revelations come from GM’s 2019 Sustainability Report, which was published Thursday. The report examines several facets of GM electric vehicle boost, adding an imminent entry of long-term Chevrolet EV products. Among these, a new intermediate SUV, which rolls on the new BEV3Array platform..
On July 17, The Driven reported:
General Motors aims to sell five million electric vehicles by 2030. U.S. automaker General Motors expects global sales of electric vehicles to succeed by one million by the middle of this decade, however, new studies suggest that if the company meets only a portion of that target until 2026, it will see sales of electric vehicles jump to five million until 2030.
On July 19, CleanTechnica reported: “GM Says 12 new EVs coming, including full size pickup truck with 400 mile range.”
On July 29, Techcrunch reported:
GM starts construction on the cornerstone of its EV strategy. Steel construction has begun on the nearly 3-million-square-foot factory that will mass produce Ultium battery cells and packs, the cornerstone of General Motors’ strategy to bring 20 electric vehicles to market by 2023. The Ultium Cells LLC battery cell manufacturing facility in Lordstown, Ohio is part of a joint venture between GM and LG Chem that was announced in December. At the time, the two companies committed to invest up to $2.3 billion into the new joint venture, as well as establish a battery cell assembly plant on a greenfield manufacturing site in the Lordstown area of Northeast Ohio that will create more than 1,100 new jobs. The factory will be able produce 30 gigawatts hours of capacity annually.
Jaguar Land Rover fuel-cell project to counter “diminishing returns” of batteries in big SUVs.
Jaguar XJ teaser photo
Source
Honda (HMC, OTCPK: HNDAF)
On July 11, Clean Technica reported:
Is Honda Waking Up? Honda has formed a “comprehensive strategic alliance” with CATL, one of the world’s top three EV battery producers. This is not just a contract for batteries, but a rather deep and broad partnership.
Nio Inc. (formerly NextEV) (NIO)
On July 19, Nikkei Asian Review announced:
For electric-vehicle maker Nio, government tie-up has its benefits. Chinese electric-car maker Nio Inc. said it had secured credit lines worth 10.4 billion yuan ($1.48 billion) from six domestic banks, just months after inking a cooperation deal with a city government, as the company hunts for funding amid concerns of tightening liquidity.
Nikola Corporation (NKLA)
On June 29, Business Insider announced: “Nikola has gone up 7% as the company opens $5,000 in bookings for his truck.” Highlights include:
Lucid Air has claimed to be the luxury car with maximum effective aerodynamics … Lucid Motors says its next electric car will be the world’s top aerodynamic luxury car when it goes into production later this year. The Air has reached a drag coefficient of 0.21 in recent wind tunnel tests, which is greater than 0.23 of the Tesla Model S. However, this has not yet been demonstrated for the production edition of the Air, as Lucid is recently running with “beta” prototypes.
Lucid Air Wind Tunnel Testing
The source
On July 8, Green Car Reports reported:
Ev. The manufacturer Lucid will have a national service network, 20 retail stores open until the end of 2021.
Rivian Automotive (private)
On July 13, Green Car Reports reported:
After moving to electric trucks, Rivian has raised $5.3 billion since the birth of 2019. Electric vehicle company Rivian has not yet delivered a single vehicle, but the company has raised about $5.3 billion since early 2019. Rivian said Friday that he had just closed $2.5 billion investment cycle, the first in 2020. Funding was conducted through the budget and accounts requested through T. Rowe Price Associates, Inc., Rivian said in a press release. The new finance circular follows a series of investments in 2019, born with a $700 million financing circular directed through Amazon in February this year. Rivian then signed an agreement to build 100,000 power-delivery trucks for Amazon.
Rivian R1S
Rivian electric trucks: R1T and R1S delayed in the summer of 2021. This is a delay of approximately six months from its original due date. The announcement and timeline are not surprising; In an April update, Rivian announced that the truck launch schedule would be adjusted due to the pandemic and its effects on plant preparation. Money is not the problem …
Fisker (private) / Spartan Energy Acquisition Corp. (SPAQ) (fusion)
On July 11, Bloomberg reported:
The corporate blank check subsidized through Apollo (SPAQ) has gone up 71% in a imaginable Fisker deal. Spartan Energy has become a kind of overnight feel after Reuters announced that it was waging a bidding war for car manufacturer Fisker Inc. and reflected the meteoric rise of Nikola Corp.
Xpeng Engines
On July 20, Seeking Alpha reported:
Xpeng Motors raises more cash to push EV. Chinese electric vehicle manufacturer Xpeng Motors said it raised about $500 million in its new funding round. Investors in the C funding cycle come with Aspex, Coatue, Hillhouse and Sequoia Capital China. Alibaba (NYSE: BABA) is one of the first investors. Xpeng Motors has reached several milestones this year, adding the launch of its current Smart EV style and the license of its utterly owned plant in Zhaoqing, Guangdong Province.
The XPeng G3 BEV SUV with a diversity of 520 km NEDC
The source
Li-Auto (LI)
On July 31, The Verge reported:
Chinese new company Li Auto is going public in the United States and raises $1.1 billion. It is time for the start-up of a Chinese electric vehicle at a publicly traded company in the United States, following Nio’s IPO in 2018 and the new York Stock Exchange board. Another, XPeng, would be next.
Tesla has been hailed as a leader in self-driving risking Uber and Lyft. Ark Research considers Tesla (NASDAQ: TSLA) a risk to Uber (NYSE: UBER) and Lyft (NASDAQ: LYFT) with its competitive load design and the ability to create a recurring profit business style with software-like margins. ARK estimates that Tesla’s ride-sharing service can provide EBITDA margins of approximately 50%, a premium for Uber in its dominating cities and, on average $1 consistent with the global mile, its addressable market would be about $50 billion.
Tendency to invest
Thank you for reading the article. If you need to sign up for Trend Investing for my most productive investment ideas, the latest trends, exclusive interviews with the CEO, a chat room for me and other complicated investors. You can take advantage of the paints I’ve made, especially in the electric vehicle and electrical metals sector. You can learn more by reading “The Difference in Trend Reversal”, “Subscriber Comments on Trend Reversal” or signing here.