EV Company News For The Month Of October 2018

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by: Matt Bohlsen

Summary

Global electric car sales - record global, China and US sales, Europe disappoints. Global electric car market share was 1.8% in September, up 68% YTD.

EV market news - European environment ministers agree 35 percent car emission cut by 2030. Li-ion battery trains have arrived in Scotland.

EV company news - Tesla hits 47% market share in the US, and is number 1 globally with 12% market share. BYD Co also doing very well in second place.

Welcome to the October 2018 edition of Electric Vehicle company news. October saw several sales records broken for September sales. We saw a new record sales figure by far for global electric car sales in September, shattering the previous record (174,000 units, in December '17). USA and China also had record sales in September. The sales surge was driven by Tesla Model 3 and continued strong China sales. Tesla also delivered positive earnings, well above expectations. What a month!

Global electric car sales as of end September 2018

Global electric car sales finished September 2018 with over 200,000 sales for the month, up 61% on September 2017, and the best month ever. Tesla (NASDAQ:TSLA) led the way with a record 38,771 deliveries in one month, thanks mostly to the Model 3. Year to date sales are up 68% on last year, with 2018 year to date sales at ~1.3m and market share at 1.8%, with three months left to be reported on. It is now looking like 2018 global electric car sales will be approaching 2m, and over 2% market share.

Of note, 65% of all global electric car sales so far in 2018 were pure electric.

China electric car sales were a record 104,900 in September 2018, up 66% on September 2017. Electric car market share in China for September 2018 was 5.2%, and are at 3.3% YTD.

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 32,700 in September 2018, 1% higher than in September 2017. Europe electric car market share was not disclosed in September 2018; however YTD it is 2.2%. Norway still leads the world with an incredible 60% market share of electric cars sold in September.

US electric car sales were a record 44,589 in September 2018, 110% higher than in September 2017. Electric car market share in US for September 2018 was a record 3.1%, with YTD market share at 1.8%.

Note: The above sales include light commercial vehicles.

Note: An acknowledgement to Jose Pontes of EV Sales and EV Volumes for his excellent work compiling all the electric car sales quoted above and below.

Global electric car sales by manufacturer for September 2018

Source: EVSales

Forecast annual electric vehicle sales - 30m by 2030, 60m by 2040

Projected global electric vehicle sales 2040

Source: Bloomberg research

EV market news for October 2018

On October 9 BBC News reported: "How Amsterdam's canal boats are going electric - at a cost. All of Amsterdam's boats must go electric by 2025."

On October 9 Reuters reported:

Israel aims for zero new gasoline, diesel-powered vehicles by 2030. Israelis will no longer be able to buy new gasoline or diesel-powered vehicles after 2030, the Energy Ministry said on Tuesday, unveiling a plan to replace them with electric cars and trucks that run on natural gas.

On October 10 CNBC reported:

European environment ministers agree 35 percent car emission cut by 2030. 28 European environment ministers have agreed a target reduction in carbon dioxide emissions from autos. European Union lawmakers have hammered out a deal to cut vehicle emissions by 35 percent by 2030, offering a further boon to the development of electric and hybrid cars.

On October 10 The Scotsman released a video: "Battery trains on track to cut emissions."

A good video. The Company is Vivarail and the train runs to 60mph. It charges at the station for 4 minutes and can then run for 40 miles (by next year). The company sees the lithium battery train as a replacement for diesel trains. Each carriage has a 100kWh battery, and the train uses regenerative breaking.

Vivarail's new battery powered electric train in Scotland

Source

The Boston Business Journal reported:

"GE partners with BNSF to develop all battery-electric locomotive. Two giants of the rail industry are working together to develop an all battery-electric locomotive." You can read more on this in another article here.

On October 16 Green Car Reports reported:

Judge approves Tesla SEC settlement. A federal judge in New York gave final approval Tuesday to the $40 million settlement between Tesla, its chief executive officer Elon Musk, and the SEC over Musk's tweets about plans to take the company private. The approval comes following Musk's tentative settlement on Sept. 29, in which he agreed to step down as chairman of Tesla's board of directors for three years and pay a $20 million fine. Tesla agreed to pay an additional $20 million and to install two new outside directors on the board. Musk will remain as CEO.

On October 23 Electrek reported:

Dyson decides to build its electric vehicles in Singapore, solid-state batteries become less likely. Dyson, best known for its vacuums, is still moving forward with its multi-billion-dollar plan to launch several new electric vehicles. The British company has now announced that it will build the cars in Singapore and those vehicles are unlikely to be equipped with solid-state batteries. They aim to break ground on the new factory later this year and they want the first car to roll off the production line in 2021.

EV company news

Tesla Inc. (NASDAQ:TSLA)

Tesla is currently ranked the number 1 globally with 12% global market share. Tesla is the number 1 electric car seller in the US, with 47% market share.

On October 2 Green Car Reports reported:

Tesla Model 3 is fifth bestselling car in U.S., production still short of profitability goal. Tesla announced Tuesday that it delivered 55,843 Model 3s between July and September, confirming reports that the company's mass-market electric is the fifth bestselling car model in the United States.

On October 7 Tesla announced: "Model 3 achieves the lowest probability of injury of any vehicle ever tested by NHTSA."

On October 8 Green Car Reports reported:

Tesla rolls out new Version 9 software–without full-self-driving features. Tesla chief executive Elon Musk on Friday announced that the company released its long-awaited Version 9 software update, but without the full-self-driving features that he promised back in June. Instead, the new software now rolling out to all Model 3's, Model Ss, and Model Xs makes improvements to the navigation system and the user interface.

On October 17 CNBC reported:

Tesla buys new plot for China factory for $140 million. Tesla acquired a plot in Shanghai’s Lingang area for the electric car maker’s new factory. Tesla expects the factory to produce its first cars in three years, according to an earnings release in August.

On October 24 Green Car Reports reported:

Lower-cost Tesla Model 3: Does 260 miles, $46K before incentives split the difference? UPDATE: Tesla originally rolled out the Model 3 Mid Range at a base price of $45,000 on 10/18. Less than six days later it's raised the price $1,000, and we've adjusted the numbers in this piece to reflect that. “We made a slight adjustment to our pricing for Model 3 following the introduction of the Mid Range Battery last week," said a Tesla spokesperson. "We will honor the lower pricing for all in-progress orders.”

On October 24 Green Car Reports reported: "Tesla Model 3 range-efficiency edge is a serious market strength."

On October 25 Bloomberg reported:

Tesla blows away profit estimates on Model 3 breakthrough. Tesla reported adjusted net income of $2.90 a share, soundly beating analysts’ average estimate for a small loss. Free cash flow was about $881 million.

BYD Co. (OTCPK:BYDDY), (OTCPK:OTCPK:BYDDF) HK:1211

BYD is currently ranked the number 2 globally with 11% global market share, and is ranked number 1 in China with 19% market share.

On October 29 4-traders reported:

China's BYD expects 2018 profit to fall by a third as competition rises. Chinese electric carmaker BYD Co Ltd, which is backed by U.S. investor Warren Buffett, said on Monday it expected full-year net profit to drop almost a third as competition heats up in the world's largest auto market. The Shenzhen-based firm posted a 1.9 percent fall in third quarter net profit to 1.05 billion yuan ($150.97 million), down from 1.07 billion yuan a year earlier. That was the smallest quarterly drop since the end of 2016, but it said 2018 profit would be between 2.73 billion yuan and 3.13 billion yuan, down as much as 32.94 percent.

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 13% market share. SAIC is number 3 in China with 11% market share.

On October 22 BAIC announced: "Announcement of the operating results of the company for the third quarter ended September 30, 2018." You can also read a good summary here.

On October 19 China Automotive News reported:

SAIC Volkswagen sees groundbreaking of NEV plant in Anting, Shanghai. On October 19, SAIC Volkswagen (SAIC VW)'s NEV (new energy vehicle) plant started construction in Anting Town of Shanghai's Jiading District. Involving a total investment of RMB17 billion, the new NEV plant will be put into operation in 2020 with a planned annual capacity of 300,000 vehicles.

BMW (OTCPK:BMWYY)

BMW is currently ranked the number 4 global electric car manufacturer with 7% global market share. BMW is number 1 in Europe with 17% market share.

On October 12 Green Car Reports reported:

BMW recalls chargers for 2018, 2019 plug-in models. BMW issued a recall for the charge cords of virtually all the 2018 and 2019 plug-in vehicles it has built for sale in the U.S. According to the recall notice on the NHTSA's website, capacitors in the charge cords could fail, resulting in a shock hazard or a fire.

On October 19 Green Car Reports reported:

BMW sets up end-to-end battery recycling in Europe. Teaming with a new Swedish battery supplier and a Belgian recycling company (Umicore), BMW is aiming to build a fully sustainable future battery supply chain.

On October 22 Green Car Reports reported:

BMW says 85 percent of cars will still have engines in 2030. Once a leader in electric cars, BMW now says it expects 85 percent of its cars still to have internal combustion engines by 2030.

On October 26 Green Car Reports reported: "BMW recalling 44,000 diesel vehicles for fire risk."

Renault (OTC:RNSDF) / Nissan (OTCPK:NSANY) / Mitsubishi (OTCPK:MSBHY, OTCPK:MMTOF)

Nissan is currently ranked number 6 for global electric car sales with 5% 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 October 17 Green Car Reports reported:

Documents: 60-kwh Nissan Leaf pricing aligned with Chevy Bolt EV. Even before the second-generation Leaf was introduced last year, it was an open secret that Nissan planned an extended-range, 60-kwh version of the Leaf.

2018 Nissan Leaf SL

2018 Nissan Leaf SL

Source

General Motors/Chevrolet (NYSE:GM)

GM/Chevrolet is currently ranked the number 8 global electric car manufacturer, with 3% market share. They are the number 2 ranked electric car seller in the US with 11% market share.

On October 24 Green Car Reports reported:

GM confirms it will reach EV tax credit ceiling this year—then phase out begins. Beginning next April, buyers of General Motors’ electric vehicles and plug-in hybrids won’t be getting the same break on their purchase as those who buy those vehicles from any other brand. Any other brand but Tesla, that is. GM has confirmed to Green Car Reports that it will reach 200,000 deliveries of vehicles eligible for the federal electric vehicle tax credit by the end of this quarter."

On October 26 Green Car Reports reported:

GM wants Trump administration to consider national electric-vehicle mandate. GM is launching an effort to propose a 50-state solution for electric vehicles, including a national version of California’s Zero Emissions Vehicle mandate.

Volkswagen Group (OTCPK:VLKAY) / Audi (OTCPK:AUDVF) / Porsche (OTCPK:POAHF)

Volkswagen is currently ranked the number 9 top-selling global electric car manufacturer with 3% market share. In Europe Volkswagen is the number 2 electric car seller with a 13% market share.

On October 4 Automotive News Europe reported: "

VW forms task force with battery cell supplier LG Chem ahead of EV launch. Volkswagen has formed a biweekly task force with South Korean battery cell supplier LG Chem to ensure the security of VW’s supply chain for electric-vehicle batteries. Using its new EV architecture known as MEB, the VW brand plans to launch 18 full-electric vehicles throughout the world by the end of 2022 as part of its Roadmap E electrification strategy.

On October 5 Green Car Reports reported: "VW confirms it’s planning for solid-state batteries by 2025."

On October 9 Green Car Reports reported:

Report: Audi e-tron GT electric sport coupe will fast-charge in 12 minutes. Audi revealed last month that its e-tron GT, which is described as a “highly dynamic coupe,” will make its debut at the Los Angeles auto show in November.

On October 16 Bloomberg reported:

VW's Audi unit settles Munich diesel probe for $926 Million. Volkswagen AG’s Audi unit agreed to pay an 800 million-euro ($926 million) fine for its role in the diesel-cheating scandal that has disrupted the car industry for more than three years and landed Audi’s longtime leader in jail.

On October 25 Electrive.com reported:

VW and SK Innovation looking at battery manufacturing. Volkswagen may be preparing their entry into mass production of battery cells for EVs, according to a German news magazine. They would be cooperating with a Korean partner, SK Innovation, to set up and operate multiple battery cell “Gigafactories” in Europe. There has been no final decision, however, as the negotiations have not concluded, according to the report.

Toyota (NYSE:TM)

Toyota is currently ranked the number 10 in the global electric car manufacturer's sales ranking, with 3% global market share.

On October 5 Green Car Reports reported:

Report: Volvo's parent company in talks with Toyota over hybrid systems. Toyota revealed on Thursday that it is in talks with Chinese automaker Geely, which owns Volvo, about cooperation on hybrid vehicle technology.

Geely Automobile Holdings Ltd (OTCPK:GELYY, HK:0175), Volvo Group (OTCPK:VOLVY), Kandi Technologies Group (NASDAQ:KNDI), Proton, Lotus

On October 25 CNBC reported:

Volvo buys a stake in electric charging firm FreeWire. Volvo describes FreeWire as a “pioneer in flexible fast charging technology for electric cars. In January 2018, BP Ventures announced it was investing $5 million in FreeWire." FreeWire Technologies is a California-based electric car charging business.

Daimler-Mercedes (OTCPK:DDAIF, OTCPK:DDAIY) (Smart)

On October 10 Green Car Reports reported:

Mercedes breaks ground on US battery factory (Updated). Mercedes-Benz broke ground Friday on a new battery factory in the U.S.—right next door to its SUV factory in Alabama. The move is an indication that the company plans to build its upcoming all-electric EQC electric SUV in Alabama. The EQC is expected to go on sale in the U.S. as a 2021 model.

On October 15 Green Car Reports reported: "2020 Mercedes-Benz GLE plug-in hybrid to have 60 miles of electric range?."

On October 16 The Driven announced:

Daimler says 25% of models will be all-electric by 2025, but ICE here for a "long time." The remaining 75% will continue to run on fossil fuel, but with “electrified” options. Mercedes-Benz is pouring more than €10 billion ($A16 billion) into developing the all-electric EQ range, while Mercedes-AMG is also working on a “performance hybrid” concept known as Project ONE, which plugs into the wall but as the Daimler executive says, “not exclusively.”

On October 23 Green Car Reports reported:

Mercedes invests in pilot program to keep fuel cells alive. Mercedes-Benz is launching a new trial for fuel-cell cars in Germany, with aims to study real-world use patterns. Mercedes will begin leasing its GLC F-Cell fuel-cell SUVs to fleet customers in Germany for $917 a month, according to a report in Automotive News Europe.

Ford (NYSE:F)

On October 26 Automotive News reported:

VW, Ford are mulling self-drive tie-up as talks broaden, report says. Talks between Volkswagen Group and Ford Motor Co. on forming an alliance have broadened to include potential collaboration on autonomous driving and arrangements to make vehicles for one another, people familiar with the matter told Bloomberg.

Fiat Chrysler (NYSE:FCAU)

On October 9 Green Car Reports reported:

FCA announces production Jeep Renegade plug-in hybrid in Italy. Jeep said Monday that it laid the groundwork to begin production of a plug-in hybrid version of its small Renegade at the factory in southern Italy where it's produced alongside the Fiat 500X. The model is expected to go on sale in early 2020, though it's not clear whether it is intended for the U.S.

2019 Jeep Renegade

Source

On October 22 Bloomber reported:

Fiat to sell Magneti Marelli to KKR's Calsonic. Fiat Chrysler agreed to sell its high-tech car-parts unit, Magneti Marelli, to KKR & Co.'s Calsonic Kansei in a 6.2 billion-euro ($7.1 billion) transaction, marking the first major deal for the Italian-American carmaker.

Groupe PSA (owner of Peugeot)

No news for the month.

Honda (HMC, OTCPK:HNDAF)

On October 29 Green Car Reports reported:

Honda joins GM, others in heated opposition to Trump's EPA fuel-economy freeze. Honda joined General Motors on Friday and called on the EPA to abandon its proposed fuel-economy rollback, asking federal officials to negotiate with states like California to offer a single, comprehensive update to federal fuel-economy standards. Honda filed its comment Friday, the last day for public comments, on the Trump administration's plan, and said a negotiated plan that doesn't freeze fuel-economy standards at 2020 levels would be "a better path." “The industry is united in its request that the agencies work out an agreement with California,” Honda wrote.

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

On October 5 Green Car Reports reported:

One size won't fit all for future Kia EVs. For an automaker that’s pitching itself toward the fun side of the Hyundai Motor Group, the tone for the automaker’s sizable electric push soon sounds altogether like pants. “It’s all about what fits,” said Michael Winkler, director of powertrains for Kia in Europe. By the end of next year, Kia will offer in the U.S. all-electric versions of both the boxy Soul and the hatchback Niro.

2019 Kia Niro EV

2019 Kia Niro EV

Source

On October 15 Green Car Reports reported: "2019 Hyundai Kona Electric, Tesla board, long-range Mercedes plug-in: Today's Car News."

2019 Hyundai Kona Electric

2019 Hyundai Kona Electric

Source

Mazda (OTCPK:MZDAY)

On October 2 The Sydney Morning Herald reported:

Mazda picks up the pace in electric vehicles. Mazda Motor Corp laid out plans to revamp its product line-up, saying that all its vehicles will come with electric power by 2030. Five per cent of the cars would be fully battery-powered by that year, and 95 per cent would combine an electric motor with an internal-combustion engine, the Japan-based company said on Tuesday.

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

On October 12 AutoCar reported: "Jaguar considers transformation to EV-only brand. JLR top brass are considering making all Jaguars electric-powered within the next decade."

On October 14 Green Car Reports reported:

British company resurrects classic MGB and Jaguar XKSS as electrics. First, it was the Porsche 911, then the Jaguar E-Type. Now it's the MGB. Converting classic old cars into electrics has become the rage across Europe. The latest comes from RBW Classic Electric Cars in the UK, which isn't taking classic MGBs and modifying them, but recreating new classic MGBs with electric powertrains.

On October 16 Green Car Reports reported:

Jaguar delivers first I-Pace electric crossover in North America. Jaguar confirmed its first retail delivery of the I-Pace electric crossover Monday, a few weeks ahead of the company’s early November target for retail sales. The I-Pace isn’t late, but a vehicle like it has been a long time coming. It’s the first of what we can rightfully call a rival to the Tesla Model S fastback sedan and Model X crossover, more than six years since deliveries of the Tesla Model S began, and about three years since an overdue Model X, Falcon-wing doors and all, reached first customers.

On October 18 Green Car Reports reported:

2019 Jaguar I-Pace gets official range, MPGe ratings. Now that it has finally delivered the first retail example of its I-Pace, Jaguar has released official range and MPGe estimates for this new luxurious electric crossover. As we reported on Monday, the I-Pace is rated at 234 miles of range, a little short of the 240 that Jaguar indicated it was aiming for in earlier press drives.

Nio Inc. (formerly NextEV) (NIO)

On October 16 Inside EVs reported: "NIO ES8 Sales Hit 1,766 In September, Over 3,000 YTD. The new Chinese all-electric car manufacturer - NIO - happily announced that in September it delivered 1,766 ES8 SUVs, an electric 7-seater."

Faraday Future (private)

On October 11 Green Car Reports reported:

"Does Faraday have a Future? Latest financing disrupted—again?. Faraday's Future has hit another snag, in a dispute with the company's latest investors. The development of the luxury electric Faraday Future FF91, has been a roller-coaster ride of winning financing, running into disputes, delaying the car, and finding new investors." You can read more here.

Lucid Motors (formerly Atieva) (private)

Last month Lucid closed a $1 billion deal with Saudi Arabia to fund electric car production.

On October 2 Tech Company News released; "A recent interview with Peter Rawlinson, CTO at Lucid Motors."

Fisker (private)

On October 29 Green Car Reports reported:

Fisker gets Caterpillar investment for solid-state battery tech. Henrik Fisker has been sketching out big plans—well beyond cars—for the solid-state battery technology being developed by a Fisker Inc. team. And now it appears that the heavy-equipment maker Caterpillar has given it some vote of confidence. On Oct. 22, both companies announced that a Caterpillar-owned venture group invested in the nascent automaker's battery tech. The amount of the investment wasn't made public.

Fisker EMotion EV

Fisker EMotion

Source

Dyson (private)

On October 23 Clean Technica reported:

Dyson to begin construction of Singapore electric car factory in December, production begins in 2021. James Dyson says he became interested in building an electric car 25 years ago when he discovered how much pollution was spewing out of the tailpipes of diesel-powered cars in the UK. Whatever the Dyson electric car turns out to be, it is certain to be well engineered and another important step forward in the clean transportation revolution.

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.

On the software side Nvidia (NASDAQ:NVDA) is the leader, with Intel (INTC) and Qualcomm (QCOM) also involved in this area.

For connectivity and onboard entertainment ("smart car") Tesla has the Model 3s 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 October 9 Bloomberg reported: "Daimler to work with Geely on ride-hailing service in China. Daimler, Chinese shareholder Geely weighing a 50:50 venture. New China business would take on industry leader Didi Chuxing."

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 Byton (private), Chery Automobile Co. Ltd. (private), Didi Chuxing, Great Wall Motors, Fisker (private), GreenPower Motor Company Inc. [TSXV:GPV] (OTCQX:GPVRF), Honda (HMC, OTCPK:HNDAF), Lamborghini, Mahindra & Mahindra (OTC:MAHDY), Subaru (OTCPK:FUJHY), Suzuki Motor Corp. [TYO: 7269] (OTCPK:SZKMY) (OTCPK:SZKMF), 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), Israel (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."

Conclusion

September 2018 electric car sales broke records globally, in China, and in the US. Electric car market share for September reached 2.2% YTD in Europe, 5.2% in China, and 3.1% in the USA. Year to date global electric car market share is now at 1.8%.

Highlights for the month were:

  • Global electric car sales - Record Global, China and US sales, Europe disappoints. Global electric car market share was 1.8% in September.
  • US electric car sales were a record 44,589 in September 2018, hitting 3.1% market share.
  • European environment ministers agree 35 percent car emission cut by 2030 - offering a further boon to the development of electric and hybrid cars.
  • Israel aims for zero new gasoline, diesel-powered vehicles by 2030.
  • Vivarail - Battery trains on track to cut emissions, and GE partners with BNSF to develop all battery-electric locomotive.
  • Tesla hits 47% market share in the US. Tesla blows away profit estimates. Tesla reported adjusted net income of $2.90 a share, soundly beating analysts’ average estimate for a small loss. Tesla buys new plot for China factory for $140 million.
  • Daimler says 25% of models will be all-electric by 2025. Mercedes breaks ground on US battery factory.
  • Converting classic old cars into electrics has become the rage across Europe.
  • Jaguar considers transformation to EV-only brand.
  • Volvo buys a stake in electric charging firm FreeWire.
  • Dyson to begin construction of Singapore electric car factory in December, production begins in 2021.

As usual, all comments are welcome.

Disclosure: I am/we are long BYD CO (HK:1211), ALPHABET GOOGLE (GOOG). ALIBABA (BABA).

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.

Additional disclosure: The information in this article is general in nature and should not be relied upon as personal financial advice.

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