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EV Company News For The Month Of August 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, VOLVY
by: Matt Bohlsen
Summary

Global electric car sales were up 3% YoY in July, reaching 1.9% market share. The slowdown was due to China's post subsidy slump.

EV market news - Norway hybrid cruise ship powers through the water on battery-power in world first. Indonesia aims for 20% EVs of total car production by 2025.

EV company news - China to exempt Tesla cars from 10% purchase tax. BYD's profit triples as China's electric car boom continues. Over 45,000 pre-orders for the Mini Electric.

Welcome to the August 2019 edition of Electric Vehicle company news. August saw July global electric car sales up just 3% YoY, pulled down by the post subsidy slump in China.

Put in context China's July slump of 7% is probably just a one off, and EV sales should start to recover in the seasonally stronger H2 2019. The one factor to consider is that China's conventional car sales have been contracting for 13 straight months which times in with the duration of the trade war. Eight of the 13 months have seen China conventional car sales fall by more than 10%.

August also saw some big firsts with Norway's hybrid cruise ship and the world’s "largest all-electric ferry" completing its maiden voyage in Denmark. We also had good progress with e-planes and e-semis. These are reminders that the EV movement is much bigger than just electric cars.

Global electric car sales as of end July 2019

Global electric car sales finished July 2019 with 148,000 sales for the month, up 3% on July 2018, with market share at 1.9% in July and 2.3% YTD.

Of note 76% of all global electric car sales in June (no July figures) were 100% battery electric vehicles (BEVs), the balance being hybrids.

China electric car sales were 70,000 in July 2019, down 7% on July 2018, as expected following the June 25 subsidy cut. Electric car market share in China for July was 4.6%, and 6.1% YTD.

Current subsidies in China were reduced by 20% in 2017 and have been reduced again in 2019 (took effect June 25, 2019), and are to be reduced 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. As to when China will ban ICE vehicles, BYD Chairman Wang thinks by 2030, while others think it will be 2035. A recent report says it won't be anytime soon.

Europe electric car sales were 36,000 in July 2019, 32% higher than in July 2018. Europe electric car market share was 2.8% in July, and 2.9% YTD. Norway still leads the world with an incredible 48% market share.

US electric car sales were not available on EV sales in July 2019. US electric car market share is 1.8% YTD in 2019.

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 July 2019

Source: EV-Sales Blogspot

Bloomberg's forecast annual electric vehicle sales - 10m by 2025, 28m by 2030, and 56m by 2040

Source: Bloomberg NEF 2019 Electric Vehicle Outlook

EV market news for August 2019

On July 4 New Atlas reported:

Hybrid cruise ship powers through the water on battery power in world first. The shiny new ship was cruising off the west coast of Norway on her maiden voyage when captain Kai Albrigtsen made the call to shut down the diesel engines and switch to electricity. At that point, the MS Roald Amundsen became the first cruise ship in the world to sail on only battery power.

The MS Roald Amundsen hybrid cruise ship

Source

On August 1 Reuters reported:

Indonesia plans incentives to boost electric vehicle industry. Southeast Asia’s largest economy wants EV manufacturers and battery makers to create a downstream industry for its supplies of nickel laterite ore, which is used in lithium batteries. Aiming to become a hub for Asia and beyond, Indonesia hopes companies will start EV production in 2022 and for the share of EV output to reach 20% of total car production by 2025.

On August 6 Bloomberg reported:

Battery-powered ships next up in battle to tackle emissions. Japanese group to build first zero-emission tanker by 2021...to operate in Tokyo Bay.

On August 12 the WSJ reported:

GM (NYSE:GM), Volkswagen (OTCPK:VLKAF) say goodbye to hybrid vehicles. General Motors Co. and Volkswagen AG are shifting the bulk of their future investment into fully electric cars, seeing hybrids, which save fuel by combining a gasoline engine with an electric motor, as only a stopgap to ultimately meeting tougher tailpipe-emissions requirements, particularly in China and Europe.

On August 19 CNBC reported:

The world’s "largest all-electric ferry" has completed its maiden voyage. The e-ferry Ellen crossed waters between the ports of Soby and Fynshav in the south of Denmark. An all-electric ferry capable of carrying roughly 30 vehicles and 200 passengers has completed its maiden voyage......He added that over the course of one year the ferry would stop the release of 2,000 tons of carbon dioxide, 2.5 tons of particulates and 1.4 tons of sulfur dioxide. In January 2020, the IMO will ban shipping vessels using fuel with a sulfur content higher than 0.5%, compared to levels of 3.5% at present......the Ellen is able to sail as much as 22 nautical miles (approximately 25.3 miles) between charges.

The world’s "largest all-electric ferry"

Source

On August 29 The South China Morning Post reported:

Beaten down car stocks to rev up as Chinese policymakers take steps to boost dwindling sales. The State Council, China’s cabinet, said this week that it would gradually ease or waive restrictions on car buying and support purchases of new-energy vehicles in some regions as part of a 20-point guideline to bolster consumption.

On August 29 Inside EVs reported:

Quantum Air signs up for 26 Bye Aerospace electric airplanes. Bye Aerospace already received a three-digit number of pre-orders for eFlyer electric aircraft, expected on the market in 2021.

Bye Aerospace electric planes are selling very well

Source

EV company news

Tesla Inc. (NASDAQ:TSLA)

Tesla is currently ranked the number 1 globally with 15% global market share. Tesla is the number 1 electric car seller in the US, with 57% market share, and number 1 in Europe with 17% market share.

On August 6 Green Car Reports reported:

Tesla brings back free supercharging to juice high-end sales of Model S and Model X. Tesla announced Saturday it is bringing back free Supercharging on its high-end Model S and Model X.

On August 8 Green Car Reports reported: "Tesla hiking prices for Full Self-Driving by $1,000 for some owners."

On August 9 Green Car Reports reported: "Tesla faces lawsuit over software that cut range from some cars."

On August 26 Green Car Reports reported:

Report: Tesla picks LG Chem to supply batteries in China. In a first for the automaker, Tesla has agreed to buy batteries from Korean battery supplier LG Chem for models produced at its new Chinese factory. The news was first reported by Bloomberg, citing people familiar with the negotiations. The agreement would bring to an end Tesla's exclusive supply relationship with Panasonic, which was widely expected. The contract will also not be exclusive to LG Chem, so other battery suppliers may eventually supply the Chinese factory as well.

On August 29 Green Car Reports reported: "Tesla launches insurance product—only in California."

On August 30 Reuters reported:

China to exempt Tesla cars from 10% purchase tax. Tesla sees China as one of its most important growing markets, and the exemption from a 10% purchase tax could reduce the cost of buying a Tesla by up to 99,000 yuan ($13,957.82), according to a post on Tesla’s social media WeChat account. Sixteen variants - all the Tesla models sold in the country - are listed on a document issued by MIIT on its website, including Model S, X and 3.

Tesla pickup truck launch expected late 2019 - Latest image

Source: Inside EVs

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

BYD is currently ranked the number 2 globally with 12% global market share, and is ranked number 1 in China with 23% market share.

On August 21 4-traders reported:

BYD's profit triples as China's electric car boom continues. Chinese electric car maker BYD Co Ltd posted a 203.6% rise in first-half profit on Wednesday, as China's new energy vehicle market continues to surge. BYD posted net profit of 1.45 billion yuan ($205.29 million), up from 479.10 million yuan a year earlier. BYD sold 145,653 so-called new energy vehicles (NEVs) between January and June, up 94.5% from a year earlier. It also sold 82,419 fuel cars, down 44.9%. Overall sales of NEVs in China rose 49.6% in the first six months of this year from a year earlier, but those sales fell 4.7% in July, the first drop in more than two years, as China cut subsidies on such vehicles from July. China's Association of Automobile Manufacturers has trimmed its forecast rise for NEV sales this year to 1.5 million from 1.6 million. BYD will launch models such as e2, e3 and a revamped Qin in the second half of this year, and expects the new models will further drive sales growth and support the leading position of the group in the industry, the filing said.

On August 26 Automotive News China reported:

BYD expects Q3 profit to slump after robust first half. China’s slumping new-vehicle market and a steep cut in government subsidies for electrified vehicles are behind the profit warning, the company said in its 2019 interim financial report.

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 6% market share. BAIC is number 2 in China with 10% market share.

SAIC is global number 4 with 6% market share, and number 3 in China with 8% market share.

On August 16, 4-traders reported:

SAIC Motor: Building cloud computing and big data center China. Shanghai-based auto manufacturer SAIC Motor Corp started building a cloud computing and big data center in Zhengzhou.

BMW (OTCPK:BMWYY), Mini

BMW is currently ranked the number 5 global electric car manufacturer with 5% global market share. BMW is number 2 in Europe with 13% market share.

On August 6 DriveTribe reported:

Over 45,000 Pre-orders for the Mini Electric.... there are already over 45,000 "registered customers" for the new model. The (not so mini) Mini EV will hit the showrooms in early 2020. The Mini Cooper SE, as it is officially going to be called, is equipped with a 32.6-kWh battery pack based on the ones used in the BMW i3. The top speed of the Cooper SE will be limited to 93 mph (150 kph). And with a range of about 150 miles.

The fully electric Mini Cooper SE - over 45,000 pre-orders

Source

On August 9 Green Car Reports reported:

Report: Next-generation Minis to go all electric. According to a Tuesday report from Automobile, Mini's overseers at BMW have may have nixed all future gas engines for the brand and simultaneously pared its future lineup to just three models. The remaining models, to come in 2023 or later, will include a replacement for the new electric Mini Cooper S E hardtop (which debuted in July as a 2020 model), a smaller urban Mini for China based on the brand's 2011 Rocketman concept, and a crossover vehicle, most likely an electric version of the Mini Countryman.

On August 15 Green Car Reports reported: "2020 BMW 330e plug-in hybrid gets more electric range, XtraBoost performance."

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

Nissan is currently ranked number 6 for global electric car sales with 4% market share, and Renault is ranked global number 17 with 2% market share.

On August 8 Green Car Reports reported:

Nissan, EVgo plan more 100-kw fast chargers. Nissan is expanding its partnership with charging network EVgo to install 200 more DC fast-chargers across the U.S. The new chargers will each dispense up to 100 kw, which can deliver up to 150 miles of range in less than half an hour, and will have both a CHAdeMO plug to charge the Leaf and a CCS Combo plug to charge most other (non-Tesla) EVs as well. Teslas can also use the chargers with a CHAdeMO adapter.

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

Geely is currently ranked the number 7 in the global electric car manufacturer's sales ranking with 4% global market share.

On August 7 Marketwatch reported: "Kandi JV company received approval to be pure electric vehicle production manufacturer by MIIT."

On August 21 4-traders reported: Geely Automobile: China's Geely posts 40% slump in first-half profit, sees uncertain demand outlook."

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

Volkswagen is currently ranked the number 8 top-selling global electric car manufacturer with 4% market share.

On August 2 Green Car Reports reported:

Shorter range Audi E-tron planned for Europe. Audi is already introducing a new version of its E-tron quattro electric SUV in Europe with smaller batteries. The short-range model will have a 71-kilowatt-hour battery pack in place of the original's 95-kwh battery pack.

2019 Audi E-tron - first drive report - California, May 2019

Source

On August 13 Green Car Reports reported:

The fastest Porsche SUV ever is a plug-in hybrid. As Porsche ramps up for the launch of its Taycan electric sedan late this year, today it has a new cheerleader for the performance boost of electric motors at the top of its SUV lineup: the 2020 Porsche Cayenne Turbo S E-Hybrid. With a total output of 670 hp and 663 lb-ft of torque, the Turbo S E-Hybrid can hit a top speed of 183 mph and accelerate to 60 mph in 3.6 seconds.....it’s Porsche’s fastest, quickest, and most powerful SUV ever.

2020 Porsche Cayenne Turbo S E-Hybrid

Source

On August 15 Green Car Reports reported:

First drive review: VW ID Buggy heads for the hills with MEB sharable electric car platform. VW gave Green Car Reports a small test Thursday in California of its production-ready MEB platform, which will eventually underpin 10 million cars worldwide, riding underneath its ID Buggy concept vehicle. The electric dune-buggy concept, which made its debut at the 2019 Geneva motor show, was the first vehicle driven on U.S. shores underpinned by a complete and series-built MEB platform that was not entirely handmade or a prototype.

VW ID Buggy Concept first drive

Source

On August 19 Green Car Reports reported:

For VW, focus groups highlight EV-adoption challenges beyond price. Volkswagen has been targeting affordability all along with its upcoming electric cars and the modular MEB platform they’re built on. Leading up to the launch of the first models to arrive, starting with the ID 3 at the start of 2020 for Europe and a crossover for the U.S. later in 2020, VW executives haven’t stopped discussing the price points. They continue to state that once the carmaker’s global push for mass-market electric cars picks up the pace, they’ll reach price parity with comparable gasoline vehicles.

On August 20 Green Car Reports reported: "Porsche shows Taycan interior in Apple Music announcement."

On August 21 Green Car Reports reported: "Porsche Taycan electric car covers 2,100 miles in 24 hours."

On August 26 Green Car Reports reported:

Volkswagen ID 4X spy shots reveal production direction for Crozz electric crossover. The model that’s leading Volkswagen’s electric-car push—and what Volkswagen has called the replacement for the e-Golf, the city-focused ID 3 hatchback, isn’t coming to America.

Volkswagen ID 3 and ID 4 (NYSEARCA:CROP) - S. Baldauf/SB-Medien

Source

On August 29 Automotive News Europe announced: "Audi may buy EV batteries from BYD amid supply constraints."

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

Hyundai is currently ranked number 9 for global electric car sales with 3% market share. Kia is ranked global number 10.

On August 22 Green Car Reports reported:

Hyundai 45 EV concept for Frankfurt show to highlight new design language. Hyundai announced last week that it will show a concept car “envisioning its future EV design direction” at next month’s Frankfurt auto show. And now today the brand added that it will step into that future while looking back at the past—to the brand's first model from the 1970s, 45 years on.

Toyota (NYSE:TM)

On August 26 Green Car Reports reported:

Lexus to reveal upcoming electric car at Tokyo auto show. Lexus is reportedly working on a new electric model to unveil at the Tokyo motor show in October. The car will be a small city electric car, based on an updated version of the company's 2015 LF-SA concept, according to a report in British car magazine Autocar. Quoting Lexus chief Koji Sato, the report says the car will be a "tall, boxy, hatchback." Last month, Sato also announced that the brand is developing a new dedicated electric platform for a future model, and that it plans to "electrify" its entire model lineup with either hybrid, plug-in hybrid, or fully-electric powertrains by 2025.

On August 26 Green Car Reports reported: "Toyota will use "full line-up of electrified vehicles" at 2020 Olympics."

General Motors/Chevrolet (NYSE:GM)

GM/Chevrolet is the number 2 ranked electric car seller in the US with 8% (June figure) market share. They are ranked 19th globally.

On August 23 Green Car Reports reported:

2020 Chevrolet Bolt EV gets 259 miles of range, nudges past Kona Electric. For 2020, Chevrolet boosted the range of the Bolt EV to 259 miles—from 238 miles in 2019 and earlier models. According to the company, small tweaks in the chemistry of its battery cells accommodated the new range, though it says the capacity remains the same at 60 kilowatt-hours.

On August 27 Green Car Reports reported:

GM wins US grant to develop solid-state batteries. General Motors is the latest automaker reported to be working on solid-state lithium batteries, thanks to a $2 million grant from Uncle Sam.

On August 29 Green Car Reports reported: "EV tax credit will drop again for Chevrolet Bolt EV October 1."

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

On August 14 Green Car Reports reported:

Quiet launch: Daimler builds first electric heavy-duty semis for fleet test. Tesla might have been the first to generate a lot of fanfare over an all-electric Semi, but it’s not the first to actually place an electric Semi with customers for full-time use. That nod would go to Daimler Trucks North America. The initial two Freightliner eCascadia semis were built this week for its Electric Innovation Fleet—funded by a $16 million California grant—and they’ll be placed into duty later this month by the Southern California operations of two companies: Penske Truck Leasing and NFI.

Freightliner eCascadia electric semi

Source

On August 29 China Automotive News reported:

Mercedes to build 3 new models in China this year. Mercedes-Benz will assemble its first full-electric vehicle, first AMG performance car and an additional gasoline crossover at its joint venture with BAIC Motor Co. this year. The three vehicles are the EQC electric crossover, the elongated AMG A35 and the GLB crossover.

Ford (NYSE:F)

On August 21 Green Car Reports reported:

Multiple Ford and Lincoln electric SUV models to arrive by 2023. In addition to a Mustang-inspired electric performance SUV, potentially named Mach E, Ford is planning two more mid-size electric SUVs to sell alongside the Ford Edge and Lincoln Nautilus. The new vehicles were revealed by three sources familiar with the plans in a report in trade journal Automotive News (subscription required) on Monday.

Note: Ford plans an $11 billion investment, which will include 16 fully electric vehicles and 40 electrified vehicles, globally, through 2022.

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

On July 31 Zigwheels reported:

Tata Motors readying four all-electric cars for India. Tata Motors is planning to up its EV game by introducing four new all-electric vehicles in India within the next 12 to 18 months.....(Tata) revealed that the four EVs in the pipeline are the Nexon EV, Altroz EV, the new Tigor EV with better range and a fourth yet undisclosed model.....the Altroz EV was showcased in Geneva. The hatchback is said to pack a range of 250-300km along with fast-charging capabilities, enabling the battery to be recharged to up to 80 per cent in just 60 minutes.

Tata's Altroz EV

Source

On August 14 Green Car Reports reported:

Jaguar targets Tesla owners with I-Pace discounts. Jaguar’s widely available I-Pace electric luxury crossover needs some kind of boost here in the U.S. market, where it still isn’t selling well. For now, that’s arrived in the form of a series of special promotions, one of which looks directly to Tesla owners. The promotions include a $5,000 dealer discount plus a $7,000 Allowance Credit that isn’t applicable to leases and is only good for in-stock 2019 I-Pace models. Tesla owners can get an additional $3,000 Tesla Conquest incentive.

2019 Jaguar I-Pace

Source

Nio Inc. (formerly NextEV) (NIO)

On August 12 Green Car Reports reported:

Nio looks to shed other businesses to keep building cars. After laying off 70 workers and closing an office in the U.S., Chinese automaker Nio is searching its cupboards for cash. EV sales have foundered in China this year after generous subsidies expired and several companies have delayed or abandoned expansion plans.....Nio's power unit is on track to operate 1,100 charging stations and 1,200 power delivery vans by 2020 in cities across mainland China, and it aims for the launch of an independent app for Nio Power in the next two months.

On August 29 Green Car Reports reported:

Nio is providing a fully charged battery in 3 minutes for free, in China. The Chinese electric vehicle maker Nio, in a bid to win over new customers, is waiving the fees for something that could be a real selling point in the increasingly tight Chinese EV market: Battery swapping. The company had installed 80 battery swap stations in China in 2018 and now has well over 100 of them. It had planned to install 1,100 of them across China by 2020.

Rivian Automotive (private)

On August 14 Green Car Reports reported:

Rivian might build upcoming Ford electric SUV. Rivian could be entrusted to build an upcoming Ford electric SUV—due within the next few years—at the startup’s former Mitsubishi assembly plant in Normal, Illinois.

Other EV companies

Other EV companies I am following include Atlis Motors, Byton (private), Chery Automobile Co. Ltd. (private), Didi Chuxing, Dyson (private), Electrameccanica Vehicles Corp. (SOLO), Faraday Future (private), Fiat Chrysler (NYSE:FCAU), Fisker (private), Great Wall Motors, GreenPower Motor Company Inc. [TSXV:GPV] (OTCQX:GPVRF), Guangzhou Automobile Group Co., Honda (HMC, OTCPK:HNDAF), Lamborghini, Lucid Motors (formerly Atieva) (private), 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 Amsterdam 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 August 4 Green Car Reports reported:

BMW reveals steering wheel for self-driving iNext electric SUV. BMW says that in the iNext the driver is no longer required to take care of the task of driving but can still actively take command at any time.

On August 27 Automotive News reported:

Toyota to partner with Chinese AV startup Pony.ai. Pony.ai and Toyota are teaming up on a pilot project as they attempt to accelerate the development and deployment of self-driving vehicles. The companies will start the pilot in September on public roads in Beijing and Shanghai, using Lexus RX vehicles and Pony.ai's autonomous driving system, said Toyota spokesman Maki Niimi.

Conclusion

July 2019 global electric car sales were up 3% YoY. Electric car market share for July reached 4.6% in China, 2.8% in Europe, and 1.8% (YTD, as no July figure) in the US.

Highlights for the month were:

  • Norway hybrid cruise ship powers through the water on battery-power in world first.
  • The world’s "largest all-electric ferry" has completed its maiden voyage in Denmark.
  • Japan plans battery-powered ships next up in battle to tackle emissions. Japanese group to build first zero-emission tanker by 2021.
  • Indonesia plans incentives to boost electric vehicle industry. Aims for 20% EVs of total car production by 2025.
  • China's State Council, China’s cabinet, said this week they intend to support NEVs to boost sales.
  • Quantum Air signs up for 26 Bye Aerospace electric airplanes.
  • Tesla brings back free supercharging to juice high-end sales of Model S and Model X. Tesla picks LG Chem to supply batteries in China. China to exempt Tesla cars from 10% purchase tax.
  • BYD's profit triples as China's electric car boom continues.
  • BMW now has over 45,000 pre-orders for the Mini electric Cooper SE. Next-generation Minis to go all electric.
  • China's Geely posts 40% slump in first-half profit, sees uncertain demand outlook.
  • GM and Volkswagen are shifting the bulk of their future investment into fully electric cars.
  • Audi may buy EV batteries from BYD amid supply constraints.
  • Toyota to partner with Chinese AV startup Pony.ai to test autonomous vehicles. Lexus plans to "electrify" its entire model lineup with either hybrid, plug-in hybrid, or fully-electric powertrains by 2025.
  • Daimler builds first electric heavy-duty semis for fleet test.
  • Tata Motors readying four all-electric cars for India within the next 12 to 18 months.
  • Rivian might build upcoming Ford electric SUV.

As usual all comments are welcome.

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