EV Company News For The Month Of January 2019

|
Includes: AAPL, APTV, AUDVF, BABA, BCCMY, BIDU, BMWYY, BYDDF, BYDDY, DDAIF, F, FCAU, FUJHY, GELYY, GM, GOOG, GOOGL, GPVRF, HMC, HNDAF, HYMTF, INTC, KIMTF, KNDI, MAHDY, MMTOF, MSBHY, MZDAY, NIO, NSANY, NVDA, POAHF, QCOM, RNSDF, SOLO, SZKMF, SZKMY, TM, TSLA, TTM, VOLVY
by: Matt Bohlsen
Summary

Global electric car sales - December market share shocks to the high side, China hits 8%. 2018 sales pass 2 million, and 2.1% market share, up 72% YoY.

EV market news - BNEF reported "end of 2018 battery pack prices reached a record low at $176 per kWh."

EV company news - Tesla wins the 2018 sales race, with Tesla Model 3 by far the number 1 selling electric car.

Welcome to the January 2019 edition of Electric Vehicle [EV] company news. January saw the release of the 2018 year total sales figures which I discuss below. Needless to say records were smashed in 2018 in a year that saw electric cars become widely accepted and increasingly popular, especially in China, USA, and Europe.

Most notably Tesla had a brilliant year with Tesla Model 3 by far the number 1 selling global electric car, Model S at number 4, and Model X at number 5. Tesla also was the global number 1 manufacturer, followed closely by BYD, and BAIC. BMW, Nissan and SAIC (Roewe) followed.

Global electric car sales as of end December 2018

Global electric car sales finished December 2018 with 286,000 sales for the month, up 70% on December 2017, and the fourth record sales month in a row. Quite impressive! Year to date sales are up 72% on last year, with full 2018 year sales over 2 the million and market share at 2.1%.

A January 31, 2019 quote from Jose Pontes from EVsales.com:

(Jose's 2019 electric car sales forecast is) 3.5 million, and almost 4% share. And 7% in 2020? 12% in 2021? This would set the Big ICE Vehicle Crash two years from now.

My past forecasts for electric car market share are shown below:

2018 2019 2020 2021
2.2% (my ~1 year ago forecast) 3.5% 5% 7%

Of note, 69% of all global electric car sales in 2018 were 100% battery electric vehicles [BEVs].

China electric car sales were over 180,000 in December 2018, up 70% on December 2017 and yet another new record. Electric car market share in China for December 2018 was an amazing record breaking 8%, and ended 2018 at a record 4%.

Current subsidies in China were reduced by 20% in 2017 and are being reduced by 40% in 2019 and 100% by 2021. China's Zero Emission Vehicle [ZEV] credit system was announced on September 28, 2017, and has now begun 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 40,500 in December 2018, 23% higher than in December 2017. Europe electric car market share was 3.9% in December 2018 (YTD is 2.5%). Norway still leads the world with an incredible 49% market share of electric cars sold in 2018.

US electric car sales were close to 50,000 for December 2018, up 90% on December 2017. Electric car market share in US for December 2018 was 3.1%, with YTD market share at 2.1%.

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 December 2018 and all 2018

Global electric car sales by model for December 2018 and all 2018

The chart below shows Tesla Model 3 sales almost double (at 7%) its nearest competitors BAIC EC-Series and the Nissan Leaf.

Source: EVSales

Global light electric vehicle sales growing fast - Up 70% in 2018

Source: EV-Volumes

Electric car sales forecasts and new 2019 models

On January 16 Bloomberg NEF released: "Transition in Energy, Transport – 10 Predictions for 2019." BNEF stated:

Electric vehicle sales up by “only” 40%. We expect another 2.6 million to be sold in 2019. This will represent around a 40% growth rate, down from the 70% growth rate in 2018....... China’s market is in transition, and the recent annual doubling of sales every year looks unlikely to hold in 2019. We expect subsidies to be cut in February, but with a phase-out period that lasts until the end of 2Q. The ‘New Energy Vehicle’ quota takes effect this year but the requirements for 2019 are relatively modest. Broader macroeconomic factors (higher interest rates and slowing consumer spending) will also impact global sales. In markets like the U.S. and the U.K., direct purchase subsidies are already starting to wind down (for Li-ion battery packs)....Fierce competition and the recent easing of cobalt and lithium costs will push average prices below $150/kWh, undershooting the experience curve, while EV-only battery prices will be even lower than that. At the end of 2018, battery pack prices reached a record low at $176 per kWh.

Bloomberg's forecast annual electric vehicle sales - 30m pa by 2030, 60m pa by 2040

Source: Bloomberg research

Bloomberg's forecast annual electric vehicle sales showing market share - 11% by 2025, 28% by 2030, 43% by 2035, 55% by 2040

Note in the chart below Bloomberg is expecting Battery Electric Vehicles [BEVs] to grow by far the most.

Source: Bloomberg research

In 2019 we will see several new electric models come out such as the Audi e-tron 2019, Mercedes-Benz EQC 2019, Mini Electric 2019, Porsche Taycan, Kia Niro EV (64 kWh battery), Volvo all-electric XC40; and several upgrades such as the BMW i3 2019 (42 kWh battery), and Nissan Leaf 2019 (60 kWh battery). If Nissan are reading I would be interested to hear from Nissan when the Nissan Leaf 60kWh will be entering Australia. Looks like it will be very popular if priced reasonably.

Nissan Leaf 2019 (60 kWh battery)

Source

EV market news for January 2018

On January 8 Green Car Reports reported:

No more rumble: Harley-Davidson LiveWire electric motorcycle arrives in August, costs more than $30,000. On its website, the company announced Monday that the LiveWire will be available for $29,799, not including mandatory delivery charges, at Harley-Davidson dealerships starting in August.

On January 21 Deloitte announced:

21 million more electric vehicles expected worldwide by 2030. Ownership cost of battery electric vehicles to match petrol and diesel in the UK by 2021 and globally by 2022"" but left me a bit confused also stating....."Deloitte predicts that by 2024, the cost to own a BEV will be on par with that of a petrol or diesel vehicle, which could boost demand further.

Note: My model has been forecasting BEV price parity with ICE being reached by 2022.

On January 24 Reuters reported:

BP invests in Chinese electric vehicle charging platform. BP said on Thursday it had invested in Chinese start-up PowerShare, which links electric vehicle drivers to charging points and helps power suppliers balance distribution.

On January 24 Technology News reported:

Bosch buys out Daimler's stake in electric motor joint venture. German auto supplier Robert Bosch [ROBG.UL] said on Thursday it had bought out partner Daimler’s stake in EM-Motive GmbH, a joint venture set up to make motors for electric and hybrid cars. The factory in Hildesheim, Germany will be expanded to meet growing demand for electric and hybrid vehicles as regulators crack down on emissions from combustion-engined vehicles. Bosch anticipates that about 20 percent of all cars will be either hybrid or electric vehicles by 2020.

On January 26 Reuters reported:

Volkswagen to manufacture mobile electric car recharging stations. Volkswagen will manufacture electric car batteries and charging stations in its home region in Germany, as it prepares to mass produce electric vehicles and overhaul its components division, which makes engines and steering parts..... Volkswagen (VW) said on Friday it would invest 870 million euros ($985 million) by 2020 to developing e-vehicle components, adding the batteries business would manufacture battery cells and packs as well as overseeing recycling of old cells.

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 53% market share.

On January 2 Green Car Reports reported:

Tesla cuts prices $2,000, almost hit 250,000 vehicles in 2018. Tesla and its CEO Elon Musk made a multi-layered end-of-year push, focused on Tesla's final days and weeks of $7,500 federal EV tax credit eligibility. And with more than 90,000 vehicle deliveries in the fourth quarter of the year—a new record for the California electric-car maker—it appears to have worked. According to Tesla, it delivered 90,700 vehicles in Q4 2018—8 percent more than in Q3. That included 63,150 deliveries of its mass-market sedan, the Model 3.

On January 4 Green Car Reports reported: "Tesla plans to begin Model 3 deliveries to China in March. Tesla has confirmed that it plans to start making deliveries of its Model 3 sedan to China in March."

On January 7 Green Car Reports reported:

Tesla breaks ground on China factory for Model 3 and Model Y. Tesla CEO Elon Musk announced on Twitter Sunday night that the company would break ground on its new Chinese factory on Monday. Musk said the plant, known as Gigafactory 3, will produce up to 500,000 Model 3 and Model Y vehicles for China and other nearby markets when it is completed in 2020.

On January 8 Green Car Reports reported.

Leading the way: Tesla trounces luxury competitors in year-end sales tally. In the third quarter, Tesla made a point of noting that, with the Model 3 approaching full production, it became the fifth bestselling—non-SUV—car model in America. On New Year’s Day, the company reported it delivered 63,150 Model 3s from October to December. That’s up 13 percent from 55,840 from July through September.

On January 20 Green Car Reports reported: "Tesla Model 3 owns the EV market, outsells all other plug-ins combined in the fourth quarter race."

On January 22 Green Car Reports reported: "Tesla may use new battery supplier for cars made in China factory. Tesla is reportedly exploring the idea of buying local batteries for its factory in China, from a supplier other than Panasonic."

Tesla Model 3 - The clear global leader in electric car models in 2018

Source

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 20% market share.

On January 21 Automotive World reported:

BYD rolls out its 50,000th pure electric bus. BYD boasts the world’s largest selection of battery electric buses, and a clientele that spans across 300 cities around the world...... In addition, BYD has also gradually grown its international customer base for pure electric buses since the first batch of 35 electric buses was exported to Amsterdam Schiphol airport in 2013. These include Transport for London, Los Angeles Public Transport Co., Sydney Airport, Stanford University and Facebook.

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 8% market share. BAIC is the number 2 selling electric car manufacturer in China with 15% market share. SAIC is number 3 in China with 7% market share.

On January 4 SAIC announced:

SAIC Motor sells 7.05m vehicles in 2018. Great results have been made during the company's pursuit of its new targets: Electrification, Intelligent Connectivity, Sharing and Globalization, with more than 140,000 of its new-energy-vehicles [NEVs] having been sold out in the period, doubling its NEV sales of the previous year for the fifth consecutive year.

BMW (OTCPK:BMWYY)

BMW is currently ranked the number 4 global electric car manufacturer with 6% global market share. BMW is number 1 in Europe with 15% market share.

On January 9 Green Car Reports reported: "2020 Mini Cooper S E: Speedy electric hatchback due for Mini's 60th birthday."

2020 Mini Cooper S E

https://images.hgmsites.net/med/mini-electric-concept-2017-frankfurt-auto-show_100619539_m.jpg

Source

On January 21 Green Car Reports reported: "BMW plans to tone down styling of its electric cars"

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

Nissan is currently ranked number 5 for global electric car sales with 5% market share, and Renault is ranked global number 9 with 3% market share. Nissan is ranked 3 in Europe and Renault is ranked 4.

On January 8 Green Car Reports reported.: "2019 Nissan Leaf Plus revealed: 226-mile range, quicker acceleration. Nissan unveiled Tuesday a new version of the 2019 Leaf electric car, called the Leaf Plus or Leaf e+, that can go well over 200 miles on a charge."

On January 14 Green Car Reports reported: "Nissan elevates the sedan with IMs electric-car concept. At the Detroit auto show, Nissan today revealed the IMs concept, a vision that sees the sedan as existing in a quite different, all-electric “elevated” form."

On January 15 Green Car Reports reported:

Nissan electric crossover due in 2020 closely follows IMx concept. Despite its bold, early moves into the mass production of electric cars with the Nissan Leaf, which originally reached the market in late 2010, Nissan has taken a long, long time to release a true electric-car Second Act.

On January 16 Green Car Reports reported: "Nissan e-Power hybrids for the US will aim for performance, not just mpg."

On January 17 CNBC reported:

Nissan challenges Tesla in massive shift to electric with 'complete reinterpretation' of the car.".....Starting in 2021, all products will be electrified. In an interesting move Nissan plan to have "range-extending gas engines on board, but if they fire up they only serve as generators, sending power to the electric motors that actually drive the wheels.

Nissan IMs electric sports sedan

The Nissan IMs electric sports sedan at the 2019 North American International Auto Show in Detroit on Monday, Jan. 14, 2019.

The Infiniti QX Inspiration

The Infiniti QX Inspiration at the 2019 North American International Auto Show in Detroit on Monday, Jan. 14, 2019.

Source

General Motors/Chevrolet (NYSE:GM)

GM/Chevrolet is currently ranked the number 7 global electric car manufacturer with 3% market share. They are the number 2 ranked electric car seller in the US with 10% market share.

On January 11 Green Car Reports reported:

Cadillac to become “lead electric vehicle brand” for GM to rival Tesla (Updated). General Motors’ Cadillac brand has fought to restore its luster as a brand for technology and innovation, with repeated attempts that fell short of a resounding success. Finally, it appears that Cadillac might be turning toward a future that may have a better chance of restoring the brand’s glory days: electric luxury cars.

On January 11 Green Car Reports reported:

Socket to me: MyChevy app tells Bolt EV drivers where to charge.....Now General Motors has forged an agreement with two of the largest charging networks in the U.S., ChargePoint and EVgo, along with Greenlots, to provide real-time data about what charging stations are available and provide it to Chevrolet Bolt EV drivers to tell them what chargers are open and available.

On January 14 Green Car Reports reported:

Long-range Cadillac SUV to lead GM's next electric-car push, in 3 years. On Sunday night, General Motors showed renderings of a future long-range, all-electric SUV to be offered roughly three years hence by its Cadillac luxury brand.

On January 14 Green Car Reports reported:

GM president dashes hopes of future Volt, says no more hybrids. Following news in late November that General Motors would kill off the Chevrolet Volt, one of the pioneers of modern plug-in cars, a senior GM executive has hinted—strongly—that it won't be back.

On January 25 Green Car Reports reported:

GMC could join electric-pickup tailgate party. General Motors has remained mum on its plans for making its pickups all-electric—until now. It's something of a fait accompli, really, since GM's CEO Marry Barra has said the company plans to move to a 100 percent electric lineup, eventually.

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

Volkswagen is currently ranked the number 10 top-selling global electric car manufacturer with 3% market share. In Europe Volkswagen is the number 2 electric car seller with a 12% market share.

On January 2 Green Car Reports reported:

Volkswagen tests mobile DC fast charging station for urban network gaps. Automakers face some daunting challenges in selling electric vehicles to urban apartment-dwellers, who are often without a home charging point. As a partial response, Volkswagen has shown a portable DC fast charging unit aimed at urban environments or temporary use at events or in parking lots—and it could be a very useful part of a strategy to help provide enough backup options for making electric-car ownership in big cities work.

On January 8 Green Car Reports reported.

Volkswagen buys wireless car service from Volvo. In automotive electronics news that doesn't come from this week's CES, Volkswagen announced late last month that it is buying wireless automotive technology from Volvo.

On January 11 Green Car Reports reported:

Audi e-tron electric SUV buyers can leave the charger installation to Amazon. With its e-tron electric SUV arriving in dealerships this spring, Audi is one of the first automakers to partner with a retailer consumers probably already trust to keep it all organized and on a tight timeline: Amazon.

On January 14 Green Car Reports reported: "Charging ahead: VW follows Tesla into power business."

On January 15 Green Car Reports reported:

Volkswagen will make electric cars in Tennessee, at expanded plant. Volkswagen today announced that it would use Chattanooga, Tennessee as its North American base for assembling electric cars. The decision to expand its Chattanooga facility means that many, if not all, of the vehicles that will be sold in the U.S. under Volkswagen’s new electric vehicle initiative will also be built in the U.S., not Mexico.

On January 18 Green Car Reports reported:

Smaller electric SUVs coming from Audi, Mercedes-Benz. German luxury automakers Audi and Mercedes-Benz plan to be in the vanguard in launching new electric SUVs in 2019. For the U.S, the long-awaited Audi e-tron quattro is slated to roll out by June, while the Mercedes-Benz EQC is planned to go on sale in early 2020.

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

Geely is currently ranked the number 14 in the global electric car manufacturer's sales ranking with 2% global market share.

On January 16 Green Car Reports reported:

Geely announces first electric car aimed at global markets. In time with the Detroit auto show, Chinese automaker Geely announced its first electric car planned to go on sale worldwide. Called the GE11, Geely's first global electric car is a sedan about the size of a Honda Civic or Insight, with a similar sloping fastback design. The company did not specify a battery size or range, but said that the car will have a 174-horsepower electric motor sourced from CATL.

On January 25 Automotive News China reported: "Geely to roll out 6 new models in 2019, report says."

On January 18 China Automotive News reported:

Lotus cars to be 'Made in China' at new Geely plant. Geely and Lotus said in a joint statement that while Norfolk was Lotus's manufacturing home, a key part of the firm's strategy to revive the brand was expanding the brand's manufacturing footprint globally.

Geely's FY11 is expected to compete with Tesla's Model 3

Source

Toyota (NYSE:TM)

Toyota is currently ranked the number 16 in the global electric car manufacturer's sales ranking with 2% global market share.

On January 22 Green Car Reports reported:

Toyota and Panasonic to jointly make electric-car batteries, explore solid-state tech (Updated). Toyota and Panasonic held a joint press conference in Japan on Tuesday to confirm details of the new joint venture. The two companies will contribute a total of 3,500 employees to the new entity, which will produce prismatic lithium-ion batteries at two Panasonic factories, one in Japan and the other in China.

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

On January 18 Green Car Reports reported:

2020 Hyundai Ioniq: First look at refreshed interior, new features. Although the Hyundai Ioniq lineup of hybrid, plug-in hybrid, and fully electric models has only been for sale in the U.S. for about two years, this rival to the Toyota Prius is already due for some significant changes later this year, for what will be its third model year.

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

On January 23 Green Car Reports reported:

Mercedes-Benz moves to build battery supply chain in Europe. A key obstacle to getting more electric cars on the road at the moment may be building up a big enough supply of batteries to power them. So far, the only automaker with a large enough supply of batteries to produce electric cars in large volumes is Tesla. Volkswagen has also announced a $10 billion investment in electric-car batteries, but those factories have not yet borne full fruit. On Tuesday, Polish Prime Minister Mateusz Morawiecki announced that Mercedes-Benz will invest $230 million (200 million Euros) in the Polish town of Jawor. That factory will contribute to Mercedes-Benz's plans to eventually purchase $23 billion worth of batteries for its new lineup of electric cars. Mercedes already operates an engine factory in the town.

Ford (NYSE:F)

On January 15 Green Car Reports reported:

VW, Ford plan to cooperate on electric cars; they just won't say how. A day after Volkswagen announced that it will bring production of its electric cars to its U.S. factory in Chattanooga, Tennessee, the company announced that it plans to sign a memorandum of understanding to work with Ford to jointly develop electric cars and self-driving cars.

On January 15 Reuters reported:

Ford plans $11 billion investment, 40 electrified vehicles by 2022. Ford Motor Co (F.N) will significantly increase its planned investments in electric vehicles to $11 billion by 2022 and have 40 hybrid and fully electric vehicles in its model lineup...... Of the 40 electrified vehicles Ford plans for its global lineup by 2022, 16 will be fully electric and the rest will be plug-in hybrids.....Ford Chief Executive Jim Hackett told investors in October the automaker would slash $14 billion in costs over the next five years and shift capital investment away from sedans and internal combustion engines to develop more trucks and electric and hybrid cars.

On January 17 Green Car Reports reported:

Ford confirms future all-electric F-Series truck, holds details close. Ford Group Vice President for Marketing and Sales Jim Farley confirmed that the company will build an all-electric version of its top-selling F-Series pickup. "We're going to be electrifying the F-Series—battery electric and hybrid," he said at a presentation at the Deutsche Bank Global Automotive Conference in Detroit on Wednesday, according to a report in the Detroit Free Press.

On January 17 Green Car Reports reported: "Ford Mustang–inspired electric crossover will spawn “elegant” Lincoln EV."

Byton (private)

On January 8 Reuters reported:

EV startup Byton aims to raise $500 mln to fund growth: sources. Byton is keen to primarily attract foreign investors in its latest fundraising and the proceeds will be mainly used to finance the mass production of its first premium electric SUV vehicle - Byton M-Byte and research and development.

On January 7 Green Car Reports reported:

Byton brings its big-screen electric SUV back to CES, a step closer to production. The China-based electric vehicle maker Byton brought a close-to-production prototype version of its M-Byte SUV to the 2019 Consumer Electronics Show this week. The debut of the vehicle, still headed for a starting price of around $45,000 and an available driving range of up to 325 miles, marks another step toward production for what was one of the surprise stars of last year's CES show.

Atlis Motors

On January 13 Top Gear reported:

The Atlis XT is a new electric pickup truck with 800km of range - Coming in 2020. With up to 500 miles (over 800km) of range and a maximum payload capacity of 5,000lbs (2,268kg), the XT ticks all the right boxes.....Plug it into one of the company’s ‘Motor Vehicles Advanced Charging stations,’ and you can expect it to be topped up in just 15 minutes. Top speed is pegged at 193kph, and it will hit 60mph (97kph) in just five seconds.

The Atlis XT - All electric pickup truck with 800km of range

Source

GAC Motor Co.

On January 17 Green Car Reports reported:

GAC Motor shows electric three-row minivan concept, delays US brand launch to 2020. China’s GAC Motor introduced a California-designed electric concept vehicle called the Entranze earlier this week in Detroit, at the 2019 North American International Auto Show.

Source

Mahindra & Mahindra (OTC:MAHDY)

On January 16 Mahindra announced:

Mahindra Electric launches NEMO Life. Celebrates over 100 million e-kilometres on Indian roads. Mahindra Electric, a leader in the development and manufacturing of electric vehicles [EV] & technologies and a part of the USD 20.7 billion Mahindra Group, today launched the all new ‘Next-Generation Mobility app’–NEMO Life. This announcement coincides with the completion of over 100 million electric kilometres by Mahindra EVs on Indian roads.

Other EV companies

Other EV companies I am following include Byton (private), Chery Automobile Co. Ltd. (private), Didi Chuxing, Dyson (private), Electrameccanica Vehicles Corp. (SOLO), Great Wall Motors, Faraday Future (private), Fiat Chrysler (NYSE:FCAU), Fisker (private), GreenPower Motor Company Inc. [TSXV:GPV] (OTCQX:GPVRF), Honda (HMC, OTCPK:HNDAF), Lamborghini, Nio Inc. (formerly NextEV) (NIO), Lucid Motors (formerly Atieva) (private), Mazda (OTCPK:MZDAY), Qiantu Motor, Rivian Automotive, Subaru (OTCPK:FUJHY), Suzuki Motor Corp. [TYO: 7269] (OTCPK:SZKMY) (OTCPK:SZKMF), Tata Motors (TTM) group (Jaguar, Land Rover), 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), Ireland (2030), Israel (2030), Scotland (2032), UK (2040), France (2040), Taiwan (2040), Japan (2050); Rome (2024), Athens (2025), Paris (2025), London, Stuttgart, Mexico City (2025), Madrid (2025), and Brussels (2030). Added to this are countries pushing hard to become 100% EV - Norway and India (30% by 2030).

Autonomous Driving/Connectivity/Onboard entertainment/Ride sharing

On January 28 CNBC reported:

China's Didi just announced a new joint venture to work on electric and hybrid vehicle projects. Didi Chuxing, China's largest ride-hailing company, said Monday it had entered into a joint venture with an affiliate of state-owned autos holding company BAIC. The joint venture, called BAIC-Xiaoju New Energy Auto Technology, will work to develop "next-generation connected-car systems" through projects related to new energy vehicles and artificial intelligence.

Further Reading

Conclusion

December 2018 electric car sales were yet another record reaching 286,000 sales for the month, up 70% on December 2017. Electric car market share for December reached 3.9% in Europe, 8.0% in China, and 3.1% in the USA. 2018 global electric car market share ended at 2.1%, with over 2 million sales, up 72% on 2017.

What I have learnt in the later half of 2018 is that if EV manufacturers can bring lower priced BEVs with reasonable range to market then they will sell very well. As a result electric car market share is surging as lower price models arrive. This bodes very well for 2019 and 2020 as prices fall further with greater competition. I expect by 2021 and 2022, with prices approaching ICE cars (but near zero running and maintenance costs), we may see a situation where EV manufacturers cannot meet demand for BEVs, and market share goes through the roof. Perhaps Jose Pontes's targets of "7% in 2020? 12% in 2021?" will be right. If true this will place an enormous demand pull on the EV metal miners.

Also in 2019 it will be interesting to see how the 2019 new and upgraded models perform (Eg: Audi e-tron 2019, Mercedes-Benz EQC 2019, Mini Electric 2019, Porsche Taycan, Kia Niro EV (64 kWh battery), Volvo all-electric XC40, BMW i3 2019 (42 kWh battery), and Nissan Leaf 2019 (60 kWh battery). Can anyone catch Tesla Model 3?

Finally it is looking like "hydrids" are on the way out and BEVs (perhaps with range extenders) are taking over judging by the 2018 BEV share of 69%, GM's move of "no more hybrids", and Nissan's move to BEVs with gas range extenders. I have thought for sometime this was the obvious way to go, as why build (and pay for) two power systems when one can do. Clearly Elon Musk also thought this many years ago.

Highlights for the month were:

  • 2018 global electric car sales pass the 2 million mark and reach 2.1% market share, up 72% YoY. Wow! December market share shocks to the high side as China hits 8% market share.
  • BNEF reported "end of 2018 battery pack prices reached a record low at $176 per kWh." BNEF forecasts EV sales growth to slow from 70% in 2018, to 40% in 2019.
  • BP invests in Chinese electric vehicle charging platform PowerShare.
  • Harley-Davidson LiveWire electric motorcycle arrives in August, costs more than $30,000.
  • Several new BEVs arriving in 2019 will bring some more competition.
  • Tesla breaks ground on China factory for Model 3 and Model Y....Tesla plans produce up to 500,000 Model 3 and Model Y vehicles for China and other nearby markets when it is completed in 2020.
  • BYD rolls out its 50,000th pure electric bus.
  • BMW launches the 2020 Mini Cooper S E - A speedy electric hatchback.
  • Nissan makes a wise move - "Starting in 2021, all products will be electrified." The Company will offer on board gas generators as range extenders.
  • GM says says no more hybrids.
  • Smaller electric SUVs coming from Audi, Mercedes-Benz.
  • Geely announced its first electric car (the GE11) planned to go on sale worldwide.
  • Mercedes-Benz moves to build battery supply chain in Poland Europe
  • Ford awakens - Plans $11 billion investment, 40 electrified vehicles by 2022.
  • Atlis Motors introduces an all electric pickup truck with 800km of range.
  • GAC Motor shows electric three-row minivan concept.
  • Didi-BAIC announced a new joint venture to work on electric and hybrid vehicle projects.

As usual, all comments are welcome.

Disclosure: I am/we are long BYD CO (HK:1211). 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.

Editor's Note: This article covers one or more microcap stocks. Please be aware of the risks associated with these stocks.