EV Company News For The Month Of March 2019

|
Includes: AMZN, AUDVF, BCCMY, BMWYY, BYDDF, BYDDY, DDAIF, F, FCAU, FUJHY, GELYY, GM, GPVRF, HMC, HNDAF, HYMTF, KIMTF, KNDI, LYFT, MAHDY, MMTOF, MSBHY, MZDAY, NIO, NSANY, PEUGF, POAHF, RNSDF, SFTBF, SFTBY, SOLO, SZKMF, SZKMY, TM, TSLA, TTM, VOLVY
by: Matt Bohlsen
Summary

Global electric car sales were up 31% YoY in February, reaching 1.4% market share, a slowdown from January's excellent growth rate.

EV market news - 71% of UK car owners said they’d consider buying an electric vehicle as their next car.

EV company news - Tesla to build a vehicle and battery factory in China, launches Tesla Model Y. VW boosts electric car plans - 22 million EVs in 10 years.

Porsche Taycan has already sold out its first year's production of 20,000 cars in advance.

Welcome to the March 2019 edition of Electric Vehicle [EV] company news. March saw February sales slowdown somewhat after a stellar January, but still a solid result. Meanwhile, there was plenty of good EV news.

Global electric car sales as of end February 2019

Global electric car sales finished February 2019 with 110,000 sales for the month, up 31% on February 2018, with market share at 1.4% in February, or 1.7% YTD.

Of note, 70% of all global electric car sales in February were 100% battery electric vehicles [BEVs], the balance being hybrids.

China electric car sales were ~53,000 in February 2019, up 58% on February 2018. Electric car market share in China for February was 4.3%. Year to date market share is at 4.7%.

Current subsidies in China were reduced by 20% in 2017 and have been reduced by 50% 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 almost 33,000 in February 2019, 36% higher than in February 2018. Europe electric car market share was 2.8% in February. Norway still leads the world with an incredible 41% market share of fully battery electric cars (BEVs) sold in February 2019. Plug in EVs (BEVs + hybrids) reached 94%.

US electric car sales were 17,200 for February 2019, up just 2% on February 2018. Electric car market share in US for February was 1.4%. year to date market share is also 1.4%. EV Sales state: "This growth softening has to do with Tesla focusing the Model 3 deliveries in overseas markets."

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 February 2019

Source: EV-Sales

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

relates to How the Cobalt Market Fell Victim to Allure of Electric Cars

Source: Bloomberg

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

Source: Bloomberg research

EV sales around the world by location

Source: Courtesy Statista

EV market news for March 2019

On March 1, Auto Trader UK reported:

Nearly 75% of car buyers are considering an electric car as their next vehicle. Sales of electric and hybrid cars will overtake petrol and diesel by 2030, report claims. Searches for alternative fuel vehicles on Auto Trader up by 40% in 2018. The British public's appetite for electric vehicles is growing significantly, according to a new report published by Auto Trader. Almost three quarters (71%) of car owners said they'd consider buying an electric vehicle as their next car, which is a huge leap from the 25% who answered positively when asked the same question in 2017.

On March 5, CNBC reported:

A new $2 million all-electric 'hypercar' accelerates faster than an F-16 jet. An all-electric car is laying claim to be the world's fastest accelerating street-legal car, hitting 62 mph (100 kmh) in less than two seconds. The Pininfarina Battista has 10 times the power of a 5-series BMW. The car's maker Automobili Pininfarina is now owned by Indian multinational Mahindra Group.

Pininfarina Battista

A new Pininfarina SpA Battista luxury hypercar sits on display on the opening day of the 89th Geneva International Motor Show in Geneva, Switzerland, on Tuesday, March 5, 2019.

Source

On March 25, Green Car Reports reported:

Canada plans its first nationwide EV tax credit. Just as President Trump is threatening to eliminate the plug-in vehicle tax credit in the U.S. through his latest budget proposal, Canada is planning to implement its first nationwide tax credit for buyers of electric cars-one that may not apply to Tesla vehicles. Last summer, Tesla sales took off in Ontario when the company began shipping Model 3s to Canada. Then they collapsed a few weeks later, when a new Conservative government took power in the province and curtailed Ontario's $14,000 (Canadian) tax credit for electric-car purchases.

On March 26, Bloomberg reported:

China cuts electric-car subsidies, shares of top EV makers drop. Highest-level subsidy for new-energy vehicles reduced by half. Local governments urged to remove subsidies after grace period. China said it's scaling back subsidies on electric vehicles to encourage local manufacturers to rely on innovation rather than government assistance as the industry matures and costs fall. The subsidy for pure battery electric cars with driving ranges of 400 kilometers (250 miles) and above will be cut by half, to 25,000 yuan ($3,700) per vehicle from 50,000 yuan, the Ministry of Finance said in a statement Tuesday. To qualify for any subsidy, electric cars need to have a range of at least 250 kilometers, compared with 150 kilometers previously, the ministry said. BAIC BluePark said in a statement it may raise vehicle prices going forward amid "certain and even relatively huge" pressure on the industry. BYD issued a statement saying it has made full preparations for adapting to the new circumstances. Manufacturing scale and an edge in technology make the company resistant to risk, it said.

EV company news

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

BYD is currently ranked the number 1 globally, with 16% global market share, and is ranked number 1 in China with 27% market share.

On March 19, Automotive News China reported:

BYD shores up sales behind EV demand. BYD Co.'s sales rose 2.1 percent to 26,833 in February as robust demand for electrified vehicles more than offset an ongoing sharp decline in gasoline-powered car and light-truck deliveries. BYD delivered 14,429 plug-in hybrids and electric vehicles last month, a surge of 72 percent, according to company filings.

On March 29, Automotive News China reported:

BYD predicts sharp rise in profit. BYD Co. reported a 32 percent drop in 2018 net profit but said that it expects its first-quarter profit to jump by up to nearly 800 percent. The carmaker, which is Daimler's partner in China, said its electric vehicle models were selling well, prompting it to predict a 583 percent to 779 percent growth in net profit for the first three months of 2019, up from 102.4 million yuan over the same period last year.

Tesla Inc. (TSLA)

Tesla is currently ranked the number 2 globally with 9% global market share. Tesla is the number 1 electric car seller in the US, with ~47% market share.

On February 28, Green Car Reports reported:

Tesla Model 3 Standard Range arrives soon at $35,000 and 220 miles. Really. In 2016, Tesla created a fever pitch over its Model 3 promise: $35,000 with a range of 220 miles. The company claimed more than 450,000 reservations were made for the Model 3, at $1,000 each, in part because of that low price and high range. On Thursday, Tesla announced that its entry-level Model 3 is finally available and will be delivered to buyers in two to four weeks. Tesla CEO Elon Musk said the low-price Model 3 will be available for ordering outside the U.S. in three to six months. The Standard Range model, which costs $36,200 after a mandatory destination and documents fee, is listed with specifications that include a 130-mph top speed and a 0-60 mph acceleration time in 5.6 seconds.

On March 8, Bloomberg reported:

Tesla reaches China bank-loan agreement for Gigafactory. Tesla Inc. secured as much as $521 million in loans from Chinese banks to build a vehicle and battery factory in the country, putting the carmaker a step closer to producing Model 3 sedans at its first overseas plant.

On March 11, Green Car Reports reported: "Tesla will raise prices on all but $35k Model 3, keep more stores open."

On March 14, Green Car Reports reported: "2020 Tesla Model Y first details: 300-mile electric SUV, starting around $48k." A Model Y Standard Range model, starting at $40,200, will arrive in early 2021.

Tesla Model Y

Source

On March 18, Green Car Reports reported: "Tesla Model 3 Mid Range disappears from automaker's lineup."

On March 28, Green Car Reports reported: "$35,000 Tesla Model 3 deliveries still delayed. Tesla finally introduced its long-promised $35,000 Model 3 earlier this month, but it still isn't delivering them according to numerous media and owner reports."

Beijing Automotive Group Co. (BAIC) (OTC:BCCMY, HK:1958), Shanghai Automotive Industry Corp. [SAIC] (CH:600104) (SAIC includes Roewe, MG, Baojun, Maxus)

SAIC is global number 3 with 7% market share, and number 2 in China with 12% market share.

BAIC is currently ranked the global number 11 with 3% market share. BAIC is struggling so far in 2019 in China with 5% market share.

On March 8, Automotive News China reported:

BAIC sets sights on Europe with electric supercar, crossover. Chinese automaker and EV specialist Beijing Auto will enter Europe soon with its electric Arcfox brand, the company's chairman said. The automaker, which has joint ventures in China with Daimler and Hyundai, will first sell an electric supercar and is investigating following that with an electric crossover, BAIC Chairman Xu Heyi told journalists on the sidelines of the Geneva auto show.

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

Nissan is currently ranked number 4 for global electric car sales with 5% market share, and Renault is ranked global number 15 with 3% market share. Nissan is ranked equal 2nd in Europe, and Renault is also ranked equal 2nd in Europe, both with 10% market share each.

On March 1, Green Car Reports reported:

226-mile 2019 Nissan Leaf Plus costs $37,445 to start. When it arrives in dealers this month, the longer-range 2019 Nissan Leaf S Plus will cost $37,445, including destination, the automaker said Friday. That's in line with what we expected from documents leaked earlier this year, and drives the net price of the compact hatchback close to $30,000, if federal rebates are maxed.

2019 Nissan Leaf

2019 Nissan Leaf

Source

On March 7, Green Car Reports reported:

Mitsubishi Engelberg SUV concept may preview Outlander PHEV replacement. The Mitsubishi Engelberg Tourer concept unveiled at the Geneva auto show on Tuesday looks a lot like the preview of a replacement for Mitsubishi's bestselling model, the Outlander.

The Engelberg Tourer concept

https://static.seekingalpha.com/uploads/2019/3/28/37628986-15537878704896326.png

Source

On March 8, Green Car Reports reported:

Nissan Leaf crosses 400,000 cumulative global sales.

BMW (OTCPK:BMWYY)

BMW is currently ranked the number 5 global electric car manufacturer with 5% global market share. BMW is number 1 in Europe with 13% market share.

On March 8, Automotive News China reported:

BMW plan to export EVs from China on hold amid trade talks.

On March 8, Green Car Reports reported:

BMW X3 xDrive 30e builds out plug-in hybrid lineup. BMW has recently announced that it will upgrade two mainstays of its plug-in hybrid lineup in the U.S. with the new 2020 X5 xDrive 45e and an updated 530e for 2019.

On March 21, Green Car Reports reported:

BMW plans 12 all-electric models by 2025. At its annual shareholders meeting in Munich on Wednesday, BMW laid out plans to bring 12 new all-electric cars to market by 2025, including five in the next two years. Along with the company's existing i3, the first five will include the Mini Electric, due on sale later this year, the iX3 SUV next year, and the i4 sedan and iNext SUV in 2021. Alongside the 12 electric cars by 2025, the company said it will sell 13 plug-in hybrids, which will include upcoming longer-range plug-in versions of the 3-Series, 7-Series, X3, and X5.

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 6 in the global electric car manufacturer's sales ranking with 4% global market share.

On March 5, Green Car Reports reported: "Volvo taking on Tesla with Chinese-built Polestar 2 electric car: details and photos."

Polestar 2

Source

On March 6, Green Car Reports reported:

Volvo's US Polestar electric-car plans are in flux over China tariffs. Higher tariffs placed on cars made in China won't impact Polestar's future plans for the U.S. but could affect the future price of its cars, the brand said Wednesday. Responding to reports that its CEO suggested that the nascent electric carmaker, which is owned by Volvo, might pull the plug on cars in the U.S., a Polestar spokesman confirmed that their cars would be sold in the States.

On March 26, Green Car Reports reported:

Volvo to boost plug-in hybrid production to 25 percent of fleet. While other automakers are moving away from plug-in hybrids to electric powertrains, Volvo is finding unexpected success with its lineup of plug-in hybrids.

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

Volkswagen is currently ranked the number 7 top-selling global electric car manufacturer with 3% market share.

On March 5, Green Car Reports reported: "Audi Q4 e-tron previews brand's first affordable electric SUV."

Audi Q4 e-tron concept

Source

On March 6, CNBC reported:

The VW dune buggy is back but this time it's all-electric. I.D. Buggy is the latest vehicle from Volkswagen designed to show off the capabilities of VW's new battery-powered platform that will underpin a range of battery-electric vehicles the company plans to bring to market.....The updated dune buggy houses a strong nod to the future with a 62-kWh lithium-ion battery and 201-horsepower electric motor. On roads, the buggy can sprint from zero to 62 miles per hour (100 kmh) in 7.2 seconds but maximum speed is electronically limited to 99 mph. Based on Europe's new performance benchmark, the I.D. Buggy will give a 155-mile range on one charge. Diess added however that the car won't come to a wider market unless it can be produced more efficiently.

VW all-electric dune buggy

Geneva Motor Show - VW Group Evening

Source

On March 8, Bloomberg Technology reported:

Porsche is boosting production for its first electric car. Porsche AG will increase production of the Taycan after more than 20,000 potential buyers registered to purchase the brand's first electric car, matching the entire annual output initially earmarked for the four-door sedan. "The overwhelming interest in the Taycan shows us that our customers and fans are just as excited about the first Porsche electric athlete as we are," Porsche sales chief Detlev von Platen said Friday in a statement. "We've therefore increased our production capacities. Interested Taycan buyers are required to make a down payment of 2,500 euros in Europe to register."

On March 13, Green Car Reports reported:

VW boosts electric car plans with more models, 22 million EVs in 10 years. VW has been busy putting logistics in place to build as many as 15 million examples of 50 new electric models (across its portfolio of brands) by 2028. At its annual conference at its headquarters in Wolfsburg Tuesday, the company upped that commitment to 22 million cars among 70 new electric models in a second wave of models based on its new MEB electric-car architecture, which is designed to be affordable. "Volkswagen will change radically," said CEO Herbert Diess. "We are taking on responsibility with regard to the key trends of the future-particularly in connection with climate protection."

2020 Audi e-tron Sportback prototype

Source

On March 15, Green Car Reports reported:

Audi plans to put old EV batteries to work in factory tugs. Factory tugs in Audi's Ingolstadt factory now sport the latest in second-hand lithium-ion batteries. With automakers on the hook in jurisdictions around the world to take back and properly reuse or recycle all the batteries they install in electric cars, various automakers are experimenting with different ways to reuse the depleted batteries that come back from their old electric cars-from using them in new charging stations to selling them to wind farms, to installing them on the roofs of solar-powered apartment complexes.

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

Hyundai is currently ranked number 8 for global electric car sales with 3% market share. Hyundai is currently equal 2nd in Europe with 10% market share.

On March 5, Green Car Reports reported:

Kia EV concept showcases brand's future, more electrified design direction. With its "Imagine by Kia" concept car revealed today at the Geneva Motor Show, Kia aims to show that electric cars don't have to look boring-that, actually, they can look exciting and emotional. The concept is, as Kia puts it, "a visual embodiment of Kia's desire to move forward in the exciting world of electrification."

On March 18, Green Car Reports reported: "Amazon (AMZN) hooks Kia owners up with easier home-charger installation."

General Motors/Chevrolet (NYSE:GM)

GM/Chevrolet is the number 4 ranked electric car seller in the US with ~6% market share.

On March 22, Green Car Reports reported:

Chevrolet Bolt EV to get electric sibling, with Michigan plant investment. General Motors announced on Friday that it will build a second electric car for Chevrolet, alongside the Chevy Bolt EV. The new model is widely expected to be a somewhat larger crossover SUV, though GM would not confirm that at this point.

On March 28, Automotive News reported:

GM: No Chevy Bolt price cuts as tax credit for EVs drops.

Honda (HMC, OTCPK:HNDAF)

On March 5, Auto Express reported:

Honda to go full-electric by 2025. As well as revealing its all-electric e Prototype at the Geneva Motor Show, Honda has also announced plans to electrify its entire European product range by 2025. The Japanese company is accelerating its electrification plans, as it has previously announced that two-thirds of sales would be electrified by 2025. The new target is part of Honda's plans to have a global electric range by the year 2030.

Honda e Prototype - 120 miles of range

Source

On March 7, Green Car Reports reported:

Honda Tomo updates Urban EV concept for active lifestyles, and the Geneva show.

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

On March 1, Green Car Reports reported:

Mercedes joins forces with BMW to build an electric ecosystem. Making electric cars accessible to more people requires developing an ecosystem that would help drivers charge, and occasionally get to destinations that might not yet be ideal for an electric car-like a long road trip.

On March 4, Green Car Reports reported: "Mercedes-Benz EQ Silver Arrow Formula E electric racing car debuts in special livery."

Mercedes-Benz EQ Silver Arrow 01 Concept

Source

On March 29, Automotive News China reported:

Daimler to recast Smart with Geely as China-based EV brand. Daimler will build its next generation of Smart electric vehicles in China through a joint venture with Geely as a way to increase economies of scale in a market segment that is struggling to turn a profit. China's Geely built a stake of almost 10 percent in Daimler last year, saying it wanted to forge an alliance to develop electric and self-driving vehicles to better compete with new competitors such as Uber and Google.

Ford (NYSE:F)

On March 21, Green Car Reports reported:

Ford plans to revamp Michigan plant for 2023 electric car production. Ford Motor Company yesterday announced a plan to build future electric vehicles at a Michigan plant that currently makes the Ford Mustang. Ironically, the plant won't be where Ford will ramp up production next year of its Mustang-influenced all-electric performance SUV; but the move represents an important shift for Ford.

NIO Inc. (formerly NextEV) (NIO)

On March 1, Green Car Reports reported:

NIO aiming to innovate with battery cooling, patents suggest. As it works toward an entry in the U.S. and works on a next generation of vehicles that may be sold here, China's NIO is thinking a lot about batteries getting hot-more specifically, how to avoid the issue altogether.

Fiat Chrysler (NYSE:FCAU)

On March 8, Green Car Reports reported:

Fiat Concept Centoventi electric car opens Mopar toolbox, looks beyond 500e. The Centoventi blends Italian design with a "less is more" concept and what Fiat terms "rugged, compact, almost monolithic proportions, with dimensions that make the most of every space."

Fiat Concept Centoventi concept

Source

On March 11, Green Car Reports reported:

Jeep announces two more plug-in hybrids, for Europe. Last week, Fiat Chrysler announced plans, along with a $4.5 billion investment, to expand its lineup of plug-in hybrids, including plans to build two new plug-in hybrid Jeeps in the U.S., including the Grand Cherokee and new versions of the Jeep Wagoneer and Grand Wagoneer planned to roll out in 2020.

On March 12, Green Car Reports reported: "Next Fiat 500 to arrive in 2020 only as electric car, executive confirms."

Mazda (OTCPK:MZDAY)

On March 14, Green Car Reports reported:

Mazda range-extended electric car may help the rotary live on. The Wankel rotary, the peculiar pistonless internal combustion engine design that Mazda built so much of its heritage around, may see a resurgence after all.

Fisker (private)

On March 18, Green Car Reports reported:

Fisker slots $40k electric SUV ahead of delayed EMotion flagship. Fisker says that the model will be priced under $40,000, and it plans to launch the vehicle (and start deliveries) in the second half of 2021.

Teaser for Fisker electric SUV

Teaser for Fisker electric SUV

Source

On March 21, Green Car Reports reported: "Fisker solid-state batteries won't arrive until at least 2022."

Faraday Future (private)

On March 22, Green Car Reports reported:

Faraday Future posts "For Sale" signs, as Evergrande backer announces first EV. The company announced last week that it is seeking a buyer for its original factory site in Las Vegas, where it announced at the 2017 Consumer Electronics Show that it would build its future FF91 and FF81. It also announced then that it had sold its Gardena, California, headquarters in a lease-back deal with a real-estate company.

On March 26, Automotive News China reported:

Chinese online game developer to invest in Faraday Future. The9, a Shanghai online game developer and operator, has come to the rescue of cash-strapped Faraday Future, the electric vehicle startup founded by Chinese entrepreneur Jia Yueting in Los Angeles. The two companies signed a deal Sunday to set up a 50-50 joint venture in China, with The9 agreeing to invest up to $600 million (4 billion yuan) in a partnership that will produce EVs to sell in China, Faraday Future said.

WM Motor

On March 12, Automotive News China reported:

EV startup WM Motor raises another 3 billion yuan. WM Motor, an electric vehicle startup founded by former Volvo Car Corp. China President Freeman Shen, secured investment of 3 billion yuan ($446 million) from three domestic companies last week. VM Motor plans to use the capital for r&d and enhancing customer experience. The three investors are technology giant Baidu and two private equity firms -- Taihang Industry Investment Fund and Linear Venture. WM said it has raised 23 billion yuan from external investors.

Other EV companies

Other EV companies I am following include Atlis Motors, Byton (private), Chery Automobile Co. Ltd. (private), Didi Chuxing (DIDI), Dyson (private), Electrameccanica Vehicles Corp. (SOLO), Great Wall Motors, GAC Motor Co., GreenPower Motor Company Inc. [TSXV:GPV] (OTCQX:GPVRF), Lamborghini, Lucid Motors (formerly Atieva) (private), Mahindra & Mahindra (OTCPK:MAHDY), Peugeot [PA:PEUP] (OTCPK:PEUGF), Qiantu Motor, Rivian Automotive (private), Subaru (OTCPK:FUJHY), Suzuki Motor Corp. [TYO: 7269] (OTCPK:SZKMY) (OTCPK:SZKMF), Tata Motors (TTM) group (Jaguar, Land Rover), Toyota (TM), 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 February 26, Autonomous Vehicles Technology released a good article titled "The road ahead: How autonomous mobility will drive assistance for disability."

On March 29, Business Insider reported: "Lyft (LYFT) jumps more than 10% in its historic trading debut - and is now valued at $27 billion."

Further Reading

Conclusion

February 2019 global electric car sales were up 31% YoY. Electric car market share for February reached 4.3% in China, ~2.8% (not reported) in Europe, and 1.4% in the USA.

Highlights for the month were:

  • 71% of UK car owners said they'd consider buying an electric vehicle as their next car. Sales of electric and hybrid cars will overtake petrol and diesel by 2030, report claims.
  • A new $2 million all-electric 'hypercar' accelerates faster than an F-16 jet. An all-electric car is laying claim to be the world's fastest accelerating street-legal car, hitting 62 mph (100 kmh) in less than two seconds.
  • Porsche Taycan has already sold out its first year's production of 20,000 cars in advance; plans to boost production.
  • China cuts subsidies similar as expected for 2019 - The subsidy for pure battery electric cars with driving ranges of 400 kilometers (250 miles) and above will be cut by half, to 25,000 yuan ($3,700) per vehicle from 50,000 yuan. To qualify for any subsidy, electric cars need to have a range of at least 250 kilometers, compared with 150 kilometers previously.
  • Tesla releases Tesla Model Y small size SUV. The 2020 Tesla Model Y first details: 300-mile electric SUV, starting around $47k.
  • Volvo to boost plug-in hybrid production to 25 percent of fleet.
  • BMW plans 12 all-electric models by 2025, including 5 in the next 2 years.
  • The VW dune buggy is back, but this time, it's all-electric. The car won't come to a wider market unless it can be produced more efficiently. VW boosts electric car plans with more models, 22 million EVs in 10 years.
  • Chevrolet Bolt EV to get electric sibling, probably an SUV.
  • Honda to go full-electric by 2025.
  • Mercedes joins forces with BMW to build an electric ecosystem (charging etc.)
  • Ford plans to revamp Michigan plant for 2023 electric car production.
  • Jeep announces two more plug-in hybrids, for Europe.
  • Fisker releases an electric SUV for 2021.
  • Faraday Future to form a 50-50 joint venture in China, with The9 agreeing to invest up to $600 million (4 billion yuan) in a partnership that will produce EVs to sell in China.
  • Ride sharing app developer Lyft jumps more than 10% in its historic trading debut - and is now valued at $27 billion.

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.