EV Company News For The Month Of April 2019

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

Global electric car sales were up 53% YoY in March, reaching 2.8% market share.

EV market news - BNEF - electric cars cheaper than petrol/diesel from 2022, as battery costs plummet. Volkswagen predicts EVs will go mainstream in 2022.

EV company news - BYD’s Q1 profit up 632%, Tesla becomes the No. 1 electric car seller in Europe.

Welcome to the April 2019 edition of Electric Vehicle company news. April saw a very strong result for March sales reaching 2.8% global market share, a massive volume of news and some new forecasts, and electric cars dominating the Shanghai Motor Show.

A key report from Bloomberg came out in April stating that electric cars will start to be cheaper than petrol/diesel from 2022 (previously Bloomberg said 2025), as battery costs plummet. This backs up what I have been forecasting for the past three years and the central theme in my recent Trend Investing article "EV Metals Demand - The Calm Before The Storm." The article discusses some of the implications if EV demand surprises to the upside, especially post 2022 when electric cars will start to become cheaper to buy, up to 10x cheaper to fuel, and up to 10x cheaper to maintain, and last up to 3x longer.

In April we also saw a huge representation of electric cars at the 2019 Shanghai motor show. Below is a brief guide only.

Electric cars at the 2019 Shanghai Motor Show

Source: JATO

Global electric car sales as of end March 2019

Global electric car sales finished March 2019 with 224,000 sales for the month, up 53% on March 2018, with market share at 2.8% in March, or over 2% YTD (+58% YoY).

Of note 74% of all global electric car sales in March were 100% battery electric vehicles, the balance being hybrids.

China electric car sales were ~110,000 in March 2019, up 86% on March 2018. Of interest the mainstream car market was down 7%. Electric car market share in China for March was 5.8%. Year to date market share is at 5.1%.

Current subsidies in China were reduced by 20% in 2017 and have been reduced in 2019 (takes effect June 25), and are to be reduced 100% by 2021. China's Zero Emission Vehicle (ZEV) credit system was announced on Sept. 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 also are expecting an announcement at some stage as to when China will ban ICE vehicles, noting BYD (OTCPK:BYDDY) Chairman Wang thinks by 2030. Others think it will be 2035.

Europe electric car sales were 60,000 in March 2019, 38% higher than in March 2018. Europe electric car market share was 3.5% in March, and 3.1% YTD. Norway still leads the world with an incredible 69% market share.

US electric car sales were 27,600 for March 2019, up 5% on March 2018. Electric car market share in US for March was 1.8%. 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 March 2019

Source: EV-Sales

Bloomberg's latest forecast annual electric vehicle sales - now at 70m by 2040 (up from 60m)

Source: Bloomberg

EV market news for April 2019

Some news from March that I missed.

On March 4 Electrive reported:

Germany releases extra €180M to fund electric buses. Overall funds for electric buses at 300 million euros for the years up to 2022.

On March 17 Car Buzz reported:

Volkswagen predicts EVs will go mainstream in 2022. VW’s first MEB platform EV, the I.D. hatchback, is slated to debut this year followed by the production version of the I.D. Crozz concept and the I.D. Buzz. VW also told us in Geneva that the electric Buggy will enter production in 2021.

On March 20 Electrive reported:

Canada to subsidise EVs with 5,000 CAD......The Canadian government intends to subsidize battery electric and H2 vehicles with up to 5,000 Canadian dollars, with a maximum list price of 45,000 dollars. (over the next 3 years).

On March 29 Equalocean reported:

Beijing cuts electric vehicle subsidies, winter is coming for the EV startups. The subsidies for the pure battery electric cars with a driving range of 400 kilometers and above will be cut by half, from CNY 50,000 to CNY 25,000. Battery-powered cars with a range of less than 250km will not be granted any subsidy, at all. There is a three-month "grace period" until June 25, firms can still apply for subsidies according to last year’s policies..... Depending upon the range, China’s Central Government has paid subsidies from CNY 20,000 to CNY 44,000 ($3,000 to $6,600) per vehicle, and most local governments have added between 15% to 50% onto that. Therefore, total government subsidies on the purchase of an EV with a range of 250 kilometres (150 miles) or greater have been approximately CNY 66,000.

Source

My view: The table below gives the USD breakdown. Of course since the last subsidy cut in January 2017 lithium-ion battery prices have dropped about 30%, so the impact of the subsidy cuts won't be as bad as what it first appears. One can argue the average subsidy drop of ~USD2,500-3,000 would be the same or less than the past 2 years drop in battery prices. The Chinese EV manufacturers such as BYD have not been sold down heavily on the news.

Source

On April 5 Reuters reported:

Exclusive: United States sets sights on China in new electric vehicle push. U.S. government officials plan to meet with executives from automakers and lithium miners in early May as part of a first-of-its-kind effort to launch a national electric vehicle supply chain strategy, according to three sources familiar with the matter. As part of the effort, Murkowski is expected to introduce standalone legislation aimed at streamlining the permitting process for lithium and other mines, bolstering state and federal studies of domestic supplies of critical minerals and encouraging mineral recycling, among other topics, according to a source familiar with the matter.

On April 10 Reuters reported:

Exclusive: U.S. bill to boost electric car tax credits could rev GM and Tesla. A bipartisan group of U.S. lawmakers introduced legislation on Wednesday to expand the electric vehicle tax credit by 400,000 vehicles per manufacturer, a provision that would give a boost to Tesla Inc and General Motors Co before the existing credit comes to an end for them...... The bill dubbed the “Driving America Forward Act” would grant each automaker a $7,000 tax credit for an additional 400,000 vehicles on top of the existing 200,000 vehicles eligible for $7,500 tax credits. It would shorten the phase-out schedule to nine months.

On April 13 Bloomberg reported:

Electric car price tag shrinks along with battery cost. Choosing an electric car over its combustion-engine equivalent will soon be just a matter of taste, not a matter of cost....The crossover point — when electric vehicles become cheaper than their combustion-engine equivalents — will be a crucial moment for the EV market. The crossover point, per the latest analysis, is now 2022 for large vehicles in the European Union. For that, we can thank the incredible shrinking electric vehicle battery, which isn’t so much shrinking in size as it is shrinking — dramatically — in cost.

On April 16 JATO reported:

Shanghai 2019: Chinese EV demand boosted by cheaper cars. The focus of this year’s Shanghai motor show is confirmation of the electrification of the Chinese car market. The Chinese government continues to push car makers to accelerate the shift from combustion engines to new energy vehicles. JATO’s figures show that there's a big price gap between China and Europe and the US. The average retail price (excluding any kind of incentive) of EVs sold in Europe and the USA in 2018 was 58% and 52% higher than in China, respectively. This is a huge difference that partly explains the EV penetration in each market.

On April 16 Aljezeera reported:

Shanghai motor show: Electric vehicles take centre stage. The race for electric vehicle dominance in China will come down to whose batteries last the longest.

Note - The report gives a good video update on the show and the China EV market.

On April 17 CNBC reported:

Traditional automakers are making China their launch pad for electric vehicles. Some of the world’s largest automobile companies unveiled flagship electric vehicles at the Shanghai Auto Show this week. Many of those cars will only be available in China, where government subsidies and policies favor electric vehicles. As the largest market globally for autos and a manufacturing hub, the Asian giant is becoming a center for electric vehicle development.

On April 17 Bloomberg reported:

A $255 billion EV debate is raging among the world’s biggest automakers. Collectively, carmakers will spend $255 billion making electric autos by 2022, according to consulting firm Alix Partners.

On April 17 The Driven reported (quoting from the Bloomberg report above):

Electric cars cheaper than petrol/diesel from 2022, as battery costs plummet. New analysis from Bloomberg New Energy Finance suggests that from 2022, the cost of electric cars will start to drop below that of internal combustion engine - ICE) vehicles....In this year’s bottom-up analysis, the figures indicate that as soon as 2022, large EVs in the EU will be cheaper than their ICE equivalents. The reason behind this is by and large due to falling battery prices.....Market analysis and research firm Deloitte, says that with 21 million EVs predicted to be on the road by 2030, the total cost of ownership for EVs could be on par with ICE equivalents as soon as 2021 in the UK, and globally by 2022.

On April 19 Reuters reported:

German ministry wants to extend electric car subsidies: Document. Germany’s economy ministry wants to extend subsidies for new electric cars until the end of 2020 in an effort to increase sales, draft guidelines seen by Reuters on Thursday showed.

EV company news

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

BYD is currently ranked the No. 1 globally with 14% global market share, and is ranked No. 1 in China with 24% market share.

On April 28 CNBC reported:

Chinese electric car maker BYD’s Q1 profit up 632 pct, sees H1 profit up, buoyed by strong demand for its new energy vehicles. Profit surged to 749.73 million yuan ($111.4 million), up from just 102.4 million yuan a year ago, when its earnings fell sharply due to cuts to subsidies for electric vehicles. BYD said it expected half-year net profit to rise to 1.45 billion yuan to 1.65 billion yuan, versus 479.1 million yuan in the same period last year. The company sold 117,578 vehicles in the first three months this year, up 5.2 percent from a year earlier. BYD, whose popular models include its Tang-series electric cars, has said it aims to sell 650,000 vehicles in 2019.

Tesla Inc. (NASDAQ:TSLA)

Tesla is currently ranked the No. 2 globally with 13% global market share. Tesla is the No. 1 electric car seller in the US, with 49% market share. Surprisingly Tesla has hit No. 1 in Europe with 18% market share. That should shake up the German manufacturers.

On April 3 Green Car reports reported:

Tesla reports sales down, citing delivery challenges in China and Europe. Tesla claims that its Model 3 electric sedan again in the first quarter of the year outsold all other mid-size sedans from what it considers premium brands — selling 60 percent more units than the closest runner-up.

On April 11 Green Car reports reported:

Report: Panasonic pumps brakes on Tesla Gigafactory expansion plans. Battery-giant Panasonic put a damper its planned investment of hundreds of millions of dollars to expand Tesla's Gigafactory site in Nevada, raising concerns that slowing investment could slow the pace of progress for EVs. Media reports indicated that Panasonic was reportedly considering investments of up to $1.3 billion for battery production to extend the facility's capacity by 50%. Those plans have been put on hold until 2020 or later.

On April 16 Green Car reports reported:

Tesla launches battery recycling at Nevada Gigafactory.....Now, as the earliest Modelhas reached seven years old, and the company is starting to receive some batteries back after use in those early cars, it's setting up its own battery recycling facility.

On April 24 Green Car Reports reported:

Tesla Model S and X get big range boost, and standard range versions return. Tesla announced a 10-percent improvement to the top driving range for both its Model S fastback and Model X crossover Tuesday—resulting in what it claims will be EPA-official ranges of up to 370 miles and 325 miles for the two models, respectively. The 370-mile rating will be the highest EPA-rated range for any U.S.-market electric vehicle ever. Rated range is currently at 335 miles for the Model S and up to 295 miles for the Model X.

On April 24 Green Car Reports reported:

Tesla Model Y might be made in California after all. Tesla hasn’t yet decided on a production location for its Model Y crossover that it plans to deliver in fall 2020. In Wednesday’s quarterly financial call, CEO Elon Musk revealed that it was considering building the Model Y at the one place that he’d previously ruled out: the company’s Fremont, California plant that already assembles all of its other vehicles, including the Model 3, which shares many components with the Model Y.

On April 30 Automotive News China reported:

Tesla China plant takes shape. Tesla CEO Elon Musk said last week that production in Shanghai could reach a rate of 2,000 vehicles a week by the end of the year. A Shanghai government official said in March that he expected the factory’s assembly shop to be completed in May.

Tesla China plant under construction in Shanghai

Source

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 No. 3 with 6% market share, and No. 2 in China with 8% market share.

BAIC is currently ranked the global No. 4 with 5% market share. BAIC is No. 3 in China with 7% market share.

On March 22 ET Auto reported:

Daimler taps Goldman to raise China BAIC shareholding: Sources. Daimler's discussions with BAIC are at an early stage and its plan to increase the stake in BAIC's Hong Kong-listed entity has not been finalised and could change later. Daimler holds 30.4 percent of BAIC's Hong Kong-listed shares, representing a 9.55 percent overall stake in its Chinese partner, according to BAIC's June 2018 interim report.

BMW (OTCPK:BMWYY)

BMW is currently ranked the No. 5 global electric car manufacturer with 5% global market share. BMW is No. 2 in Europe with 12% market share.

On March 21 Green Car reports reported:

BMW plans 12 all-electric models 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.

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

Nissan is currently ranked No. 6 for global electric car sales with 5% market share, and Renault is ranked global No. 14 with 2% market share. Nissan is ranked equal third in Europe and Renault also is ranked equal 3rd in Europe, both with 9% market share each.

On April 10 Reuters reported:

Nissan brand Infiniti aims to launch first electric car in three years, made in China. The first electric car for Nissan Motor Co’s premium brand Infiniti will be a sporty sedan produced in China.

Nissan Infiniti Qs Inspiration

Source

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

Geely is currently ranked the No. 7 in the global electric car manufacturer's sales ranking with 4% global market share.

On April 15 Green Car reports reported:

Geely's Geometry electric-car brand shows Tesla Model 3 rival for China. Chinese automaker Geely is launching a new electric-car brand in China designed to take on Tesla. Geely already owns Volvo, but plans to open a new electric car brand called Geometry with lower priced model designed first for China. It calls the first model the Geometry A, a small sedan the size of the Tesla Model 3 with a choice of two battery sizes 51.9 kilowatt-hours or 61.9 kwh, with ranges of 250 or about 300 miles, on the extra-generous old New European Drive Cycle.

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

Volkswagen is currently ranked the No. 8 top-selling global electric car manufacturer with 3% market share.

On April 4 Green Car reports reported:

2019 Audi e-tron EPA range revealed: Nothing to brag about, but aiming for the real world? Audi of America said Thursday that the EPA rating for the 2019 e-tron will be just 204 miles. But it’s caging that announcement with some distinguishing factors that it sees as making this fully electric vehicle better in day-to-day use than vehicles with higher rated ranges. The key to that is a “precisely developed battery” that’s engineered to only utilize 88 percent (83.6 kwh) of its 95-kwh cell capacity, according to Audi.

On April 10 Reuters reported:

Exclusive: Volkswagen eyes big stake in China partner JAC, taps Goldman - sources. Volkswagen AG is exploring purchasing a big stake in its Chinese electric vehicle joint venture partner JAC Motors and has tapped Goldman Sachs as an adviser on the plan, people with direct knowledge of the matter said.

On April 12 Green Car reports reported: "2019 Audi E-tron ads take aim at electric myths."

On April 15 Motortrend reported:

Volkswagen ID Roomzz EV concept Is VW's answer to the Tesla Model X SUV....Featuring upholstery made from apple waste, it goes on sale in China in 2021.

Volkswagen ID Roomzz EV Concept

On April 22 Green Car Reports reported: "Report: Battery shortages lead to Audi E-tron production delays."

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

Hyundai is currently ranked No. 9 for global electric car sales with 3% market share. Kia is ranked global No. 12.

On April 9 Green Car Reports reported: "2020 Kia Soul EV first drive review: 243 electric miles in the box."

Kia Soul EV

Source

On April 10 Green Car Reports reported:

2019 Hyundai Kona Electric costs $500 more than it did last month....The automaker hiked the starting price for a 2019 Kona Electric SEL to $37,995, up from $37,495, including $1,045 mandatory destination charges.

General Motors/Chevrolet (NYSE:GM)

GM/Chevrolet is the No. 2 ranked electric car seller in the US with 11% market share.

On April 19 Green Car Reports reported:

Future Chevrolet Bolt EV sibling could be called EUV. Last month, when General Motors announced a $300 million investment in the factory that builds the Chevy Bolt EV, it also left a mystery about what else it might build at the plant. Now a new trademark filing, first revealed by GM Authority gives a hint. General Motors said it would use the factory investment to build a new electric car to sell alongside the Bolt. Based on previous GM presentations, that vehicle was likely to be a small electric SUV, although GM hasn't confirmed that those plans are still on.

Honda (HMC, OTCPK:HNDAF)

On April 19 Green Car Reports reported: "Electric Honda HR-V and plug-in hybrid Kia Forte debut in Shanghai."

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

On April 18 Green Car Reports reported:

Mercedes-Benz EQC Edition 1886 electric SUV kicks off a new era. Against the bustling backdrop of the New York auto show, Mercedes-Benz introduced a vehicle that it says celebrates its humble roots—in 1886, when Karl Benz is credited with inventing the first automobile. The Mercedes-Benz EQC 1886 Edition is positioned to show off the extensive range of features offered in this new fully electric model, while looking a little bit sharper.....The EQC now once again marks a new era. An era in which electric mobility is reliable, simple, and at the same time exciting," said Mercedes-Benz sales chief Britta Seeger, in a release.

Ford (NYSE:F) and Rivian Automotive (private)

On April 4 Green Car reports reported:

Ford electric SUV could meet 300-mile target, and then some. Ford has been teasing even promising a new Mustang inspired high-performance electric SUV, perhaps called Mach E or Mach 1, that it says will have a 300-mile range. Now the company has announced that the model has earned a 370-mile range rating in the generous European WLTP driving cycle.

On April 8 Green Car Reports reported: "Ford Explorer Plug-In Hybrid released for Europe."

Ford Explorer Plug-In Hybrid

Source

On April 24 Electrek reported:

Ford invests $500 million in electric pickup startup Rivian, will make an EV together. Ford announced today that it's investing $500 million in electric pickup startup Rivian and the automaker will use the startup’s platform to make an all-electric vehicle. Just two months ago, Rivian, an electric vehicle startup better known for developing an electric pickup, announced that it raised a $700 million round of investment led by Amazon (NASDAQ:AMZN). Along with the investment, Ford confirmed that it will use Rivian’s electric platform to develop a Ford-branded all-electric vehicle. Ford confirmed that it is still independently developing an electric F-150 and its Mustang-inspired electric crossover.

On April 28 Green Car Reports reported:

Ford electric vehicles and hybrids: Here are some of the many models arriving soon....Ford said in March 2018 that globally it will be creating 16 fully electric vehicles and 40 electrified vehicles through 2022.

Toyota (NYSE:TM)

On April 3 Green Car Reports reported:

Toyota shores up against electric-car threat, by sharing hybrid tech. As some of the industry appears to be leapfrogging directly past hybrid vehicles, in favor of battery electrics—GM with its canceled Volt, for example—Toyota is making no such move. This morning it’s announced that it will open up its banks of patents related to hybrid systems, royalty-free until 2030.

On April 6 Electrek reported:

Toyota debuts all-electric C-HR/IZOA models prior to 2020 China launch. The models are set to hit the Chinese market in 2020." Toyota stated: "Beginning with the China debut of the electrified C-HR and IZOA vehicle models, Toyota plans to roll out more than ten BEV models globally during the first half of the 2020s, and is moving steadily forward to popularize electrified vehicles, setting a sales target of more than 5.5 million electrified vehicles globally by 2030."

Toyota's all-electric C-HR and IZOA models

Source: Electrek

On April 16 Green Car Reports reported: "2020 Toyota Highlander Hybrid arrives, promises 34 mpg combined."

Toyota's C-HR electric SUV model

Source

On April 26 Automotive News China reported:

Lexus plans its first EV for China, Europe. Declaring that an electric vehicle is necessary for China and Europe, Lexus International President Yoshihiro Sawa said last week that the luxury brand is working on its first EV.

Nio Inc. (formerly NextEV) (NIO)

On April 4 Green Car reports reported:

Nio teases sleek ET7 coupe, to include next-generation power system. Nio, one of a handful of Chinese electric carmakers aiming to be Tesla competitors, just teased its next mass-market car, expected to debut at the Shanghai auto show later this month.

On April 17 Green Car Reports reported:

Nio unveils ET Preview electric sedan in Shanghai. After a supercar, a race car, and two SUVs, Chinese automaker Nio plans a sporty fastback sedan for its next model. Nio unveiled the ET Preview at the Shanghai auto show on Tuesday, following a teaser with the ET7 Concept earlier this month. The company released few details but said the ET will have more than 250 miles of range and will offer all-wheel drive with electric motors on each axle.

Nio ET Preview concept

https://images.hgmsites.net/lrg/nio-et-preview-concept_100698221_l.jpg

Source

Rivian (private)

On April 22 Green Car Reports reported:

Report: Rivian plans six new models by 2025. Rivian has been taking, not just the electric-car world, but the car world in general by storm with its planned all-electric pickup and SUV. But its plans don't stop there. CEO RJ Scaringe told Bloomberg last week that the company will bring six new all-electric models to market by 2025.

Note: See above under Ford for details on the Ford/Rivian EV deal.

Faraday Future (private)

On April 5 Green Car Reports reported:

Faraday Future joint venture to create electric MPV based on FF91. Last month the troubled electric car hopeful Faraday Future was given (another) new lease on life, via a new joint venture with The9, a Chinese online game company, that will produce a new model for the Chinese market based on Faraday’s nearly mothballed FF91. It’s now a lot clearer what that vehicle, to be produced as soon as next year, is. It isn’t a version of the FF91 but a van-like MPV—that Faraday Future teased in a photo released yesterday.

Byton (private)

On April 2 Green Car Reports reported: "Byton M-Byte electric SUV tackles cold-weather testing, nears production."

Byton M-Byte-winter testing, Inner Magnolia

Source

Lucid Motors (formerly Atieva) (private)

On April 5 Green Car Reports reported:

Lucid Motors gets real as Saudi funding comes through. The company, which announced a $1 billion deal with the Saudi Arabian Public Investment Fund last September, confirmed on Thursday that the investment is complete. That could make Lucid the most realistic competitor to Tesla yet, as it plans to bring its nearly fully developed Lucid Air to production next year and now has the funding to do so.

Other EV companies

Other EV companies I'm following include Atlis Motors, Chery Automobile Co. Ltd. (private), Didi Chuxing, Dyson (private), Electrameccanica Vehicles Corp. (SOLO), Fiat Chrysler (NYSE:FCAU), Fisker (private), Great Wall Motors, GAC Motor Co., GreenPower Motor Company Inc. [TSXV:GPV] (OTCQX:GPVRF), Lamborghini, Mahindra & Mahindra (OTC:MAHDY), Mazda (OTCPK:MZDAY), Peugeot [PA:PEUP] (OTCPK:PEUGF), Qiantu Motor, 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 April 22 Seeking Alpha reported:

Tesla aims for robotaxis next year. Tesla CEO Elon Musk said during today's autonomy event that he expects the company to roll out autonomous taxis next year in some parts of the U.S. The service will allow Model 3 owners to add their cars to a Tesla network. Musk calls the service a combination of Uber (UBER) and Airbnb and offered his most detailed description of the robotaxi, indicating the current cost would be $0.18 per mile but would head lower over time. "We will have more than 1M robotaxis on the road," says Musk of the Tesla network.

Further Reading

Conclusion

March 2019 global electric car sales were up 53% YoY. Electric car market share for March reached 5.8% in China, 3.5% in Europe, and 1.8% in the US.

Highlights for the month were:

  • BNEF - Electric cars cheaper than petrol/diesel from 2022, as battery costs plummet.....As soon as 2022, large EVs in the EU will be cheaper than their ICE equivalents.
  • Deloitte - The total cost of ownership for EVs could be on par with ICE equivalents as soon as 2021 in the UK, and globally by 2022.
  • Volkswagen (OTCPK:VLKAF) predicts EVs will go mainstream in 2022.
  • Bloomberg: "Collectively, carmakers will spend $255 billion making electric autos by 2022, according to consulting firm Alix Partners."
  • Germany releases extra €180M to fund electric buses. Overall funds for electric buses at 300 million euros for the years up to 2022. German ministry wants to extend electric car subsidies.
  • Beijing cuts electric vehicle subsidies (by June 25), winter is coming for the EV startups.
  • Chinese EV demand boosted by cheaper cars. Put simply because China is selling cheaper cars their sales volumes are higher than US and Europe.
  • Exclusive: United States sets sights on China in new electric vehicle push. The US may increase electric car tax credits by 400,000 vehicles per manufacturer.
  • BYD’s Q1 profit up 632%.
  • Tesla becomes the No. 1 electric car seller in Europe. Tesla: China output may hit 2,000 a week in 2019. Tesla aims for robotaxis next year.
  • BMW plans 12 all-electric models by 2025, including five in the next two years.
  • Geely is launching a new electric-car brand in China called Geometry.
  • Volkswagen eyes big stake in China partner JAC.
  • Mercedes-Benz EQC Edition 1886 electric SUV kicks off a new era.
  • Ford invests $500 million in electric pickup startup Rivian, will make an EV together. Ford said in March 2018 that globally it will be creating 16 fully electric vehicles and 40 electrified vehicles through 2022.
  • Toyota plans to roll out more than ten BEV models globally during the first half of the 2020s.
  • Rivian plans six new models by 2025.
  • Lucid Motors completes US$1b Saudi financing deal.

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.