Welcome to the August 2018 edition of Electric Vehicle [EV] company news. July global electric car sales were the fourth best month ever. August saw Tesla take the number 1 sales spot; London introduce a ban of petrol and diesel cars on nine streets in London during peak times; and the Philippines rollout their first 200 electric jeepneys, as part of a plan to rollout at least 180,0000 electric jeepneys over the next 3 years.
Global electric car sales as of end July 2018
Global electric car sales finished July 2018 with 145,000 sales for the month, up 62% on July 2017, and the fourth best month ever. Year to date sales are up 68% on last year, with 2018 year to date sales at 906,000, and market share at 1.7%. It is starting to look like 2018 will exceed 2m sales and 2% market share.
Of note, 63% of all global electric car sales so far in 2018 were pure electric.
China electric car sales were about 75,000 in July 2018, up 64% on July 2017. Electric car market share in China for July 2018 was 3.9%.
Current subsidies in China were reduced by 20% in 2017 and will be reduced by 40% in 2019 and 100% by 2021. China's Zero Emission Vehicle [ZEV] credit system was announced on September 28, 2017, and will begin in 2019 with 10% of credits (12% in 2020) required from new energy vehicles [NEVs]. That translates to ~4-5% of EV sales as market share for 2019. We are also expecting an announcement at some stage as to when China will ban ICE vehicles, noting BYD Chairman Wang thinks by 2030. Others think it will be 2035.
Europe electric car sales were 27,000 in July 2018, 30% higher than in July 2017. Europe electric car market share was 2.2% in July 2018. Norway still leads the world with an incredible 63% market share of electric cars (hybrids at 39% and full electric at 24%) sold in July.
US electric car sales were 29,000 for July 2018, 90% higher than July 2017. US electric car market share was 2.2% in July 2018, and the highest market share ever. Year to date market share sits at 1.5%.
Note: The above sales include light commercial vehicles.
Global electric car sales by manufacturer for July 2018
Electric vehicles sales surge - Q2, 2018 sales up 77 percent from a year earlier - led by China
On August 21 Bloomberg reported: "Surging demand for electric vehicles. Global sales of electric vehicles cracked the 400,000 barrier in the second quarter, rising 77 percent from a year earlier to 411,000, according to a report from Bloomberg NEF. China, with 225,000 units, not only maintained its lead but outsold the rest of the world combined. Europe accounted for 22 percent of EV sales in the quarter, with North America at 19 percent."
From a Bloomberg article I missed in May - "Electric vehicles on the road are set to triple in two years - Bloomberg. The global fleet of electric vehicles is likely to more than triple to 13 million by the end of the decade from 3.7 million last year, according to a report released Wednesday from the Paris-based institution (International Energy Agency). Sales may soar 24 percent each year on average through to 2030."
Forecast annual electric vehicle sales - 30m by 2030, 60m by 2040
Source: Bloomberg research
EV market news for August 2018
A recent Morgan Stanley report -
Auto industry braces for electric shock" is also a good read. One quote is: "By 2050, there may be one billion electric vehicles on the road worldwide, bringing opportunities—and challenges—for automakers and the supply chain." Fitch Ratings has stated: "It is not unreasonable to expect global EV stock by 2040 of over 1 billion, or more than half the vehicles on the road.
A CleanTechnica article in July I missed reported: Electric trucks are coming." This led me to a research report summary - "Executive analysis of electric truck market, forecast to 2025. Chinese thrust to propel global light-medium-heavy duty electric truck market to more than 2.5 million units in annual sales by 2025." Investors can read my recent article - "The Electric Truck Boom Is About To Begin."
On July 14 The Daily Tribune reported (Philippines):
200 e-jeeps to roll out during SoNA. The transportation department is seeking to launch around 3,000 units of the e-jeepneys by the end of the year. The target is at least 180,000 units in three years with the Development Bank of the Philippines [DBP] providing P1.5 billion to kick-start the program.
Philippine electric jeepneys
On August 10 CNBC reported: "Fully-electric tuk-tuks are changing the way people get around." The article refers to Thailand.
Last year Coconuts Bangkok reported:
Thai ministry announces plan to convert gas-powered tuk-tuks to electric vehicles. Thailand’s Ministry of Energy announced some big plans for the country’s humble tuk-tuks. Not only do they plan to export electric versions of the vehicles to three European countries, they also plan to convert the country’s 22,000 existing LPG (liquid petroleum gas) powered tuk-tuks to electric-powered over the next five years.
Thai electric tuk-tuks
On June 22 The Times of India reported: "‘E-rickshaw’ boom in Kolkata rides on ‘jugaad’." In April Tech Crunch reported, "Ola will add 10,000 electric rickshaws to its India fleet over the next year. The program, called “Mission: Electric,” is part of its ambitious plan to put one million electric vehicles on the road by 2021."
Indian electric rickshaws
On August 1 Small Caps reported:
Japan unveils plan for automotive industry to ‘go green’ by 2050, seeks stable cobalt supply. Japan is the latest country to join the race to zero emissions by committing to domestic production and sales of only electrified vehicles by the year 2050. The bold plan was announced this week by the central government’s economy ministry panel amid increasing global pressure for countries to “go green” as quickly as possible. Japan’s plan, while ambitious, is not a world first. Earlier this year, India’s Ministry of Power launched a program focused on electric vehicles achieving a domestic market share of more than 30% by 2030. Germany also wants to phase out gasoline vehicles by 2030, while France and the United Kingdom have announced separate bans on all non-electric cars by 2040. The commitment by the world’s third largest economy to adopt electric vehicle technology is believed by some corners to reflect Japan’s fears of lagging behind other major automotive hubs such as the United States, Britain and China which have all made greater progress to date.
On August 2 The New York Times reported:
Trump administration unveils its plan to relax car pollution rules. The Trump administration on Thursday put forth its long-awaited proposal to freeze antipollution and fuel-efficiency standards for cars, significantly weakening one of President Barack Obama’s signature policies to combat global warming. The proposed new rules would also challenge the right of states, California in particular, to set their own, more stringent tailpipe pollution standards. That would set the stage for a legal clash that could ultimately split the nation’s auto market in two. The administration’s plans immediately faced opposition from an unusual mix of critics — including not only environmentalists and consumer groups but auto-industry representatives as well as individual states — who are now launching efforts to change the plan before it is finalized.
On August 22 The China Daily reported:
China fast-tracks release of favorable policies for NEVs. China is releasing a package of policies more swiftly to enhance the competitiveness of its new energy vehicle [NEV] sector, the Economic Information Daily reported Monday. Policymakers are considering a new regulation on auto industry investment, the newspaper cited sources with the National Development and Reform Commission (NDRC) as saying. Under the new regulation, new manufacturers of electric vehicles are required to have a minimum annual production capacity of 100,000 units, and sustainable development capacity will be a must. Tighter restriction on diesel and petrol cars will be highlighted in the "most draconian" policy, including suspending new projects and limiting capacity expansion, according to the newspaper.
On August 22 The Times reported: "London’s electric avenues ban petrol and diesel cars. Motorists will have to pay £130 for driving any car other than electric and hybrid models on nine streets in London during peak times."
On August 22 BBC.com reported:
Norway's plan for a fleet of electric planes. By 2040, Norway has promised all of its short-haul flights will be on electric aircraft. It could revolutionise the airline industry. The electric aircraft market currently consists of small aircraft; the one the Norwegian pair flew barely has room for two fully grown adults to fly together (both Solvik-Olsen and Falk-Petersen said they went on strict diets before the flight). But Falk-Peterson says that will change very quickly. Norway wants those aircraft makers to come up with a 25-to-30-seat airliner powered by electric motors, with the first of them introduced into service as early as 2025. Electric-powered aircraft are enjoying a boom at the moment; last year, the consulting firm Roland Berger found there were more than 100 electric-powered aircraft projects underway around the world.
On August 30 Bloomberg reported:
The first quieter megacity, thanks to electric vehicles. BYD is at the forefront of converting an entire city’s fleet of buses to plug-in electric vehicles. If Shenzhen is at the forefront of metropolis-scale replacement of the combustion engine, then BYD Co. is the new Ford of China’s electrified-motor city. The electric-vehicle maker, backed by big Chinese subsidies and a $232 million investment from Warren Buffett in 2008, has eclipsed Tesla Inc. as the leading maker of plug-in EVs. BYD almost single handedly electrified Shenzhen’s fleet of 16,000 buses and is now at work on the full-scale replacement of the city’s taxis and trucks.
An excellent video I came across this month - "The Rise of Electric Cars Worldwide is Unstoppable! The Future of Electric Vehicles in 19 Minutes."
EV company news
Tesla Inc. (NASDAQ:TSLA)
On August 3 Green Car Reports reported:
Tesla will roll out new Autopilot later this month. Tesla announced Wednesday that it would release a complete update to its Autopilot system later this month, including new self-driving capabilities. The new version, which Tesla owners and fans have long-awaited, will update the system with faster hardware as well as new optical software that CEO Elon Musk says will improve safety.
On August 3 Automotive News China reported: "Tesla to fund $5 billion Shanghai car, battery factory with local debt. Tesla Inc. plans to use mostly local debt to fund a new factory in Shanghai, its first outside the U.S."
On August 7 Green Car Reports reported: "Elon Musk announces he's considering taking Tesla private. Tesla CEO Elon Musk said Tuesday he is considering taking the electric car company private. The executive posted on Twitter, "Am considering taking Tesla private at $420 a share."
On August 13 Green Car Reports reported: "Tesla CEO Elon Musk reveals talks with Saudi fund to take Tesla private, others express doubt."
On August 22 Green Car Reports reported: "Lots of Teslas spill all over Northern California. Watching Tesla—and Teslas—has become practically a spectator sport, especially for those who live near the factory. As production of the company's most popular car, the Model 3, has ramped up that sport has become easier—at least for people in the San Francisco Bay Area."
On August 23 Green Car Reports reported: "Tesla push for 5,000 Model 3s per week left many unfinished."
On August 25 Green Car Reports reported: "Tesla's CEO Elon Musk announces company will stay public, abandons private push. "Given the feedback I’ve received, it’s apparent that most of Tesla’s existing shareholders believe we are better off as a public company," Musk wrote Friday. "Although the majority of shareholders I spoke to said they would remain with Tesla if we went private, the sentiment, in a nutshell, was 'please don’t do this."
On August 28 Reuters reported: "Tesla, Elon Musk win dismissal of lawsuit over Model 3 production. A federal judge in San Francisco dismissed a securities fraud lawsuit in which Tesla Inc. shareholders accused the electric car company and Chief Executive Elon Musk of misleading them about the progress of production of its Model 3 vehicle."
On August 13 Inside EVs reported:
Shenzhen companies ordered 500 BYD electric dump trucks. Shenzhen, the Chinese city with more than 16,000 fully electric buses, is now going to electrify dump trucks. The T10ZT trucks will be able to go 280 km (175 miles) collecting 10.6 cubic meters of stuff. DC fast charging stations will enable recharging of the batteries in around 90 minutes. The first BYD’s dump trucks were already delivered in July. The next application for electrification is to be a concrete mixer truck, that like dump trucks, causes emission equivalent to a total of 70 passenger cars.
On August 17 Automotive News China reported:
BYD lands EV orders from Atlanta and Georgia. BYD Co., China’s largest electrified vehicle maker, has won contracts to supply electric vehicles to the state of Georgia and the city of Atlanta. The company will supply four electric vans and four electric buses to Georgia for use by local government agencies, universities and public transport operators, BYD said this week. BYD also will supply four electric buses, three electric vans, three electric trucks and an unspecified number of electric taxis to Atlanta.
On August 24 Automotive News China reported: "BYD lands largest overseas contract for electric sedans in Thailand. BYD Co. won a contract from Thailand’s Land Transport Department to supply more than 1,100 e6 electric compact sedans to the Southeast Asian country. It is the largest order the Chinese company has secured overseas for EVs." The new EVs will serve as VIP taxis in Bangkok.
Beijing Automotive Group Co. (BAIC) (OTC:BCCMY, HK:1958), Shanghai Automotive Industry Corp. [SAIC] (CH:600104) (SAIC includes Roewe, MG, Baojun, Maxus)
BAIC is currently ranked the global number 3 with 7% market share. BAIC is the number 2 selling electric car manufacturer in China with 14% market share. SAIC is number 3 in China with 11% market share.
On July 31 4-traders reported: "SAIC Motor: Volkswagen to establish Audi division. SAIC Volkswagen Automotive Company, a joint venture between Shanghai-based SAIC Motor and Volkswagen, plans to set up a separate division for the production and sale of Audi models in China, according to local reports."
On August 6 4-traders reported: "BAIC Motor: Daimler, BJEV in talks to form new smart car venture. German luxury carmaker Daimler is in talks with a unit of Chinese partner BAIC Group to form a joint venture for the production of battery-powered Smart vehicles in China, Bloomberg reported on Monday. The talks are being held with Beijing Electric Vehicle Co, or BJEV, in which Daimler took a stake of 3.93 percent earlier this year, Bloomberg reported, citing people with direct knowledge of the matter."
On August 14 4-traders reported: "SAIC Motor: continues to climb the Fortune 500 List. SAIC Motor has achieved its highest ever position on the Fortune 500 list, ranking first among Chinese auto companies. Appearing on the prestigious list for a 14th consecutive year, SAIC Motor has been ranked No. 36 by US-based Fortune magazine, five places higher than the previous year. The accolade follows the brand achieving a sales revenue of 128.819 billion US Dollars and car sales of 6.93 million units in the 2017 financial year, a 6.8 percent increase on the previous year."
No EV related news for the month.
Nissan is currently ranked number 6 for global electric car sales with 6% market share, and Renault is ranked global number 11 with 3% market share. Nissan is ranked 3 in Europe and Renault is ranked 4.
On August 3 Reuters reported: "Nissan agrees to sell car battery unit to China's Envision Group for an undisclosed sum. The announcement comes after Nissan canceled a potential $1 billion sale of the unit to GSR Capital last month, saying the Chinese investment firm lacked the funds to make the purchase."
On August 6 Green Car Reports reported: "Nissan sells its battery business, 225-mile Leaf e-Plus to get LG Chem batteries."
On August 13 Nissan announced: "Dongfeng Motor Green Plan includes 20 electrified models by 2022. DFL plans to introduce 20 electrified (EV + e-POWER) models under its four brands by 2022, with Nissan e-Power technology available on core models. By 2022, 30% of DFL sales will be EV and e-POWER products. The company plans to localize 100% of key e-components within three years as Nissan technologies."
On August 29 Green Car Reports reported: "Nissan Leaf sedan: company builds Sylphy, first electric car for China. Nissan on Monday announced it had started production in China of a Nissan Leaf-based sedan called the Sylphy. The company first introduced the car at the Beijing auto show in April."
On August 3 Autobuzz.my reported:
All-electric Porsche Taycan can go 400 km with just 15 minutes of charging. Porsche has just released the technical details of their first ever electric vehicle [EV], the Porsche Taycan. Driven by two electric motors with 600 hp and over 500 km electric driving range, the soon to be launched Taycan seems to have the firepower to take on Tesla’s reign in the EV scene. Combined, the dual PSM electric motors generate over 600 hp, allowing the Taycan to sprint from 0 to 100 km/h in under 3.5 seconds. The 800-volt lithium-ion battery pack was designed to be lighter, more efficient and fast-charging ready. The biggest benefit from this innovation is to achieve high battery capacity for both charging and discharging over the entire temperature range, allowing the car to gain 400 km of range with just 15 minutes of charging.
On August 14 Green Car Reports reported: "2019 Audi e-tron prototype first ride: Soothingly familiar. At 5 o’clock in the morning, the only sound heard at the summit of Pikes Peak, 14,114 feet above sea level, is the ceaseless whipping of the wind. Inside the Audi e-tron electric crossover SUV prototype, I hear almost no sound at all."
Audi e-tron electric crossover SUV
On August 21 Electrek reported:
VW receives massive order of 1,600 all-electric trucks. VW has received what could very well be the largest order of all-electric trucks to date. Ambev, an important Brazilian brewery, has committed to electrify its delivery fleet and placed an order for 1,600 all-electric trucks with Volkswagen. Last year, VW announced plans for a $1.7 billion investment to bring electric trucks and buses to market. The vehicle was developed by Volkswagen Caminhões e Ônibus, VW’s Brazilian division, and unveiled last year. It features a 170 kWh battery pack, which enables up to 200 km (124 miles) of range on a single charge. Ambev, which is behind popular brands like Skol, Brahma, Antarctica and Guaraná, believes that it is sufficient for a vast number of its delivery routes and ordered 1,600 electric trucks to convert 1/3 of its delivery fleet by 2023. The ‘VW e-Delivery’ is officially going into production in 2020, but VW says that it will deliver the first vehicles to Ambev for a pilot program by the end of the year. The entire fleet should be delivered to Ambev by 2023.
On August 26 Green Car Reports reported: "Audi reveals PB18 e-tron concept in Monterey–with moveable cockpit and solid-state batteries. On Friday, Audi revealed its PB18 e-tron. Although it's a concept car, intended to combine the ideas from last year's self-driving Audi Aicon concept with the company's LeMans-winning R-18 e-tron Quattro hybrid race car."
General Motors/Chevrolet (NYSE:GM)
On August 5 Green Car Reports reported: "The first Volt from GM was also a plug-in hybrid, but it was built in 1980. Chevrolet's Volt wasn't the original, or even the first Volt from GM. Electric Auto Corporation receives that distinction for their car built in 1980, at the height of America's second gas crisis. It built the Silver Volt, a plug-in hybrid based on a contemporary Buick station wagon—16 years before the GM EV1."
On August 15 Green Car Reports reported: "Chevy Bolt EV road trip, GM patents, charger disruptions, resources report. GM files patents for three new active aerodynamic aids. A reader's family finds enough charging outlets to make a 2,000-mile road trip in a Chevy Bolt EV. Our readers report they often find electric-car chargers that don't work. And a report draws some surprising conclusions about electric cars' impact on natural resources."
On August 27 Green Car Reports reported: "2019 Chevy Volt gets higher prices with more equipment."
Toyota is currently ranked the number 10 in the global electric car manufacturer's sales ranking, with 3% global market share.
On August 10 Automotive News China reported: "Toyota to build electrified vehicles in Tianjin. Toyota Motor Corp. will renovate one of its assembly plants in the north China port city of Tianjin to build electrified vehicles. The 1.8 billion yuan ($263 million) renovation project was approved by the Tianjin city government’s economic planning agency, according to the Tianjin Construction Project Information website, which invites bids for the project."
On August 22 China Automotive News reported: "Geely Automobile Holdings says first-half net profits leap 54%. Geely Auto saw its Jan-to-June sales leap 44% over the same period last year to 766,630 units, completing 49% of its 1.58 million-unit annual sales target. It is worth mentioning that the majority of new models are planned to be launched in the second half of the year."
On August 25 Electric Vehicle News reported: "Mercedes-Benz EQ silver arrow EV concept. At Pebble Beach in California, Mercedes-Benz is unveiling the Vision EQ Silver Arrow show car during Monterey Car Week, which is being held from 18 to 26 August 2018."
On August 20 Green Car Reports reported:
2019 Ford Fusion Energi gets longer electric range. Ford is boosting the battery size and electric range of its Fusion Energi plug-in hybrid sedan for 2019. The new battery will store 9 kwh, up from 7 kwh, to give the 2019 Fusion Energi a range of 25 electric miles, up from 21 miles. The bigger battery should make the Fusion Energi more competitive with alternatives such as the Toyota Prius Prime, which also has 25 miles of electric range, as well as the Hyundai Sonata Plug-In Hybrid, with 28 miles, and the Kia Optima Plug-In Hybrid with 29 miles.
Fiat Chrysler (NYSE:FCAU)
No EV related news for the month.
No EV related news for the month.
On August 21 Green Car Reports reported:
2019 Hyundai Kona Electric rated at class-leading 258 miles of range by EPA. The 2019 Hyundai Kona Electric boasts the greatest range of any electric car built by a full-range automaker: 258 miles, according to the EPA. That bests the Nissan Leaf's 151 miles and Chevrolet Bolt EV's 238 miles, and it nearly ties the Tesla Model S 75D's 259-mile range.
On August 21 Green Car Reports reported:
2020 Kia Soul EV captured in spy photos. Kia has announced it will build an all-electric version of its Niro hatchback for 2019, but that apparently isn't stopping the company from planning an update for the Soul EV the following year. A spy photographer has captured images of an electric version of the redesigned 2020 Soul testing in Europe. The official range rating is even longer than the 250 miles that Hyundai estimated when it unveiled the car last spring at the Geneva Motor Show.
2020 Kia Soul EV
Tata Motors (TTM) group (Jaguar, Land Rover)
On August 9 Green Car Reports reported: "2019 Land Rover releases pricing for Range Rover P400e plug-in hybrid. By 2024, Land Rover will have a whole new lineup of hybrid and electric luxury SUVs. As we learned yesterday, that lineup will include plug-in hybrid and electric versions of its small Evoque crossover SUV."
On August 23 Green Car Reports reported: "Royal couple's electric Jaguar E-type Zero coupe will go into production."
Jaguar E-Type Zero
Mahindra & Mahindra (OTC:MAHDY)
Some news from last month I missed:
Mahindra Electric and Zoomcar collaborate to offer e2oPlus in Pune for self-drive and subscription. Mahindra Electric, part of the USD 20.7 billion Mahindra Group and Zoomcar, India’s largest shared mobility platform, today announced the extension of their unique service of offering EVs as shared mobility solution in Pune. The companies are set to offer 50 e2oPlus in Pune, on both the self-drive rental as well as ZAP subscribe program. ZAP Subscribe is a revolutionary way to get a personal car, without the hassles of do wn-payment, service & insurance; and the e2oPlus will be available on it at an affordable price of 9999/-per month.
That is about US$145 per month.
An image from Mahindra's website showing their commitment to EVs
No EV related news for the month.
Nio (formerly NextEV)
On August 14 Reuters reported:
NIO seeks to raise $1.8 billion in biggest U.S. listing by China automaker. Chinese electric vehicle start-up NIO on Monday filed for a $1.8 billion initial public offering of its American depositary shares, the biggest U.S. listing by a Chinese automaker. The company, backed by Chinese tech heavyweight Tencent Holdings Ltd, applied for a float of up to $1.8 billion, according to its filing with the Securities and Exchange Commission. It plans to go public on the New York Stock Exchange under the symbol “NIO”.
On August 28 Seeking Alpha reported: "Details on NIO's IPO plans. The Chinese premium electric vehicle automaker plans to offer 160M shares on the New York Stock Exchange in a range of $6.25 to $8.25 per share. In the filing, NIO says it plans to launch a second volume manufactured electric vehicle, the ES6, by the end of 2018 and start initial deliveries in the first half of 2019.
Faraday Future (private)
On August 28 Green Car Reports reported: "Faraday Future factory completes its first full car (updated). The Faraday Future factory is up and running. It produced its first complete pre-production electric car on Tuesday, after building its first production body late last month."
Autonomous Driving/Connectivity/Onboard entertainment/Ride sharing
For autonomous vehicles currently Alphabet Inc. (GOOG, GOOGL) and General Motors are leaders. Tesla, Baidu (BIDU), Apple (NASDAQ:AAPL), Daimler, Aptiv (APTV), Ford, Volkswagen, Renault Nissan, and BMW are also doing well.
For connectivity and onboard entertainment ("smart car") Tesla has the Model 3's equipped with Wifi. Alibaba (BABA) has teamed up with SAIC to make an "internet car", as well as supplying its AI and car systems to Daimler, Audi and Volvo. Apple is doing well with Apple Play, as is Google with Android Auto. Ford China and Hyundai have both teamed up with Baidu (BIDU) for AI, infotainment systems and digital services.
For ride sharing - Currently all of these app companies (Uber, Lyft, Didi Chuxing, Grab Taxi, Ola, Gett, Mytaxi, and DriveNow) are private companies, and are not accessible to most investors.
On August 27 CNBC reported: "
Toyota is investing $500 million in Uber at a valuation reported at $72 billion. In June, Toyota invested $1 billion in Southeast Asian Uber-rival Grab. Under the deal, the companies will incorporate self-driving technology into vehicles based on Toyota's Sienna minivans, and the companies plan to begin piloting the program in 2021, they said. Toyota has dubbed the platform "Autono-MaaS," standing for "autonomous mobility as a service."
Investors may also like to read my articles "Companies to benefit from the future smart car boom", and "How To Benefit From The Autonomous Vehicles Trend Starting As Soon As 2019."
Other EV companies
Other EV companies I am following include Chery Automobile Co. Ltd. (private), Didi Chuxing, Great Wall Motors, Fisker (private), GreenPower Motor Company Inc. [TSXV:GPV] (OTCQX:GPVRF), Groupe PSA (owner of Peugeot), Honda (HMC, OTCPK:HNDAF), Lamborghini, Lucid Motors (formerly Atieva) (private), Mazda (OTCPK:MZDAY), Rivian (private), Subaru (OTCPK:FUJHY), WM Motor, Xiaopeng Motors, and Zhi Dou (private).
The list of countries and cities banning (or planning to ban) petrol and diesel vehicles include at least - Norway (2025), Netherlands (2030), China (?2030/35), Germany (?2030), UK (2040), France (2040), Japan (2050); Paris (2030), London, Stuttgart, Mexico City, Madrid, and Athens. Added to this are countries pushing hard to become 100% EV - Norway and India (30% by 2030).
Investors can also read my article "The EV Boom Just Keeps Getting Bigger."
July 2018 light electric vehicle sales were up 62% on July 2017. Electric car market share for July reached 2.2% in Europe, 3.9% in China, and 2.2% in the USA. Year to date global electric car market share is now at 1.7% having accelerated in Q2 (Q2, 2018 EV sales up 77% YoY). August saw another huge month of EV achievements.
My highlights for the month were:
- US electric car sales in July hit 2.2% - the highest market share ever for the US. Tesla Model 3 sales drive the result. Tesla reaches 38% market share in the US.
- IEA - Electric vehicles on the road are set to triple by the end of the decade (from 2017 levels).
- Morgan Stanley - "Auto industry braces for electric shock." "By 2050, there may be one billion electric vehicles on the road worldwide, bringing opportunities—and challenges—for automakers and the supply chain." Fitch Ratings forecast global EV stock by 2040 of over 1 billion (half the global fleet).
- Philippines plans to have 180,000 electric jeepneys in three years.
- India - Ola will add 10,000 electric rickshaws to its India fleet over the next year.
- Thailand (2017 news) plans to convert the country’s 22,000 existing LPG (liquid petroleum gas) powered tuk-tuks to electric-powered over the next five years.
- Chinese thrust to propel global light-medium-heavy duty electric truck market to more than 2.5 million units in annual sales by 2025.
- Shenzhen, the Chinese city with more than 16,000 fully electric buses, is now going to electrify dump trucks.
- London’s electric avenues ban petrol and diesel cars on nine streets in London during peak times.
- VW receives massive order of 1,600 all-electric trucks from Ambev.
- BYD receives an order for 1,100 e6 electric cars from Bangkok, Thailand.
- Toyota to build electrified vehicles in Tianjin. Toyota is investing $500 million in Uber.
- Faraday Future factory completes its first full car.
As usual, all comments are welcome.
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