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EV Company News For The Month Of October 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
Matt Bohlsen
Investment advisor, portfolio strategy, growth at reasonable price
Summary

Global electric car sales were down 8% YoY in September reaching 2.3% market share. China and US sales fell heavily, Europe sales were up 76%.

EV market news - Parkers study: "Electric cars travel three times as far as fossil-fuel counterparts for same price." Hong Kong to phase out fossil fuel vehicles.

Morningstar - "By 2030, we forecast that half of all new auto sales globally will be electrified in some form."

EV company news - Tesla delivers a surprise profit, Toyota/Lexus makes a big EV move, Mazda launches its first mass market EV, and Smart launches the EQ Fortwo electric micro-car.

Welcome to the October 2019 edition of Electric Vehicle [EV] company news. October saw September global electric car sales fall again, let down by China and the USA; suggesting lower subsidies, the trade war, and the global slowdown is hurting electric car sales. On a brighter note, Europe sales rose 76%.

October was jam-packed with news throughout the whole EV sector, including some promising e-plane news. Perhaps the biggest news for the month was the Tesla surprise Q3 profit result, sending the shares 30% higher in 2 days.

For the car and EV enthusiasts out there, this month has a record number of electric vehicle pics.

Global electric car sales as of end September 2019

Global electric car sales finished September 2019 with 183,000 sales for the month, down 8% in September 2018, with market share at 2.3% in September, and 2.3% YTD. At least September sales improved on August's 158,000 sales.

Of note 76% (August figure) of all global electric car sales were 100% battery electric vehicles [BEVs], the balance being hybrids.

China electric car sales were ~77,000 in September 2019, down 27% in September 2018, most likely as a result of the June 25 subsidy cut and the trade war significantly worsening in September. Other reports say the decline was 34.2%. Electric car market share in China for September was 4.0%, and 5.7% 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. It is currently under consideration to be increased (14% in 2021, 16% in 2022 and 18% in 2023). As to when China will ban ICE vehicles a report says proposed targets could be (subject to change): 20% e-cars by 2025, 40% by 2030: 60% by 2035 and China may announce this by end 2019.

Europe electric car sales were 59,000 in September 2019, 76% higher than in September 2018. Europe electric car market share was 4.6% in September and 3.0% YTD. Norway still leads the world with an incredible 65% market share.

US electric car sales were 33,000 in September 2019, down 25% in September 2018. US electric car market share is 1.9% 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 September 2019

Source: EV-Sales Blogspot

EV sales forecast to really take off from 2022 as affordability kicks in

The chart below aligns with my research that electric car sales will really take-off after 2022 when my model forecasts electric and ICE car price parity.

Source

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

Source: Bloomberg NEF 2019 Electric Vehicle Outlook

On October 28, SP Global reported:

Global electric-vehicle adoption rate around 10-12.5% by 2025: LME seminar. The global electric vehicle adoption rate should be around 10-12.5% by 2025, up from around 2% currently, was the view of an audience of metals industry participants at a seminar hosted by the London Metal Exchange on Monday. August's falling global electric vehicle sales are a reminder that technological shifts do not happen smoothly," independent analyst Matthew Turner told S&P Global Platts. "But I do not think it offers too many clues as to the future. The EV market remains small and still heavily dependent on subsidies, meaning sales trends are erratic. Sustained sales growth will come with new model launches, and there are plenty to come in 2020 and 2021.

EV market news for October 2019

An early 2019 Reuters report I came across this month reported:

A Reuters analysis of 29 global automakers found that they are investing at least $300 billion in electric vehicles, with more than 45 percent of that earmarked for China.

NB: A breakdown by car maker is included. E.g: Volkswagen leads at $91b as shown below.

On October 2, Traton announced:

TRATON CEO Renschler: "In the next ten to 15 years every third of our trucks and buses can have an alternative drivetrain, most of them fully electric"...... "Our goal is to become the leading provider of e-trucks and e-buses"....."By 2025, we plan to have spent a total of more than €1 billion in electro mobility," Renschler said.

On October 9, Discover Magazine reported:

NASA is building its first electric airplane. NASA is getting ready to test their first all-electric plane, the X-57 Maxwell, at the Armstrong Flight Research Center in Edwards, California......By exploring technology in electric aircraft, NASA hopes to take a step toward eliminating the carbon footprint from flights.

On October 11, Independent.co.uk reported:

Electric cars travel three times as far as fossil-fuel counterparts for same price. Petrol and diesel are being left way behind when it comes to efficiency. The (Parkers) study found the Kia e-Niro First Edition and the Renault Zoe 65kW are the most efficient models, capable of travelling 33.1 miles per pound [MPP] of electricity. This is more than three times as far as the most economical version of the Ford Fiesta (9.3mpp), the UK's best-selling vehicle, when using official testing figures.

On October 15, South China Morning Post reported:

Hong Kong's old private estates stand to benefit from HK$2 billion subsidy to upgrade parking facilities to enable charging of electric vehicles. The government's subsidy plan will cover 60,000 parking spaces in 4,000 car parks. The city now has more than 12,000 electric vehicles approved for road use.

On October 15, Gov UK announced:

UK to go further and faster to tackle climate change.....This is why, as well as agreeing to the CCC's recommendation on net zero by 2050, we have launched this ground-breaking plan to achieve net zero emissions across every single mode of transport.

On October 17, Reuters reported:

South Korea's LG Chem, one of the leading electric vehicle [EV] battery makers, expects global sales of EVs to grow more than five-fold from 2018 levels to account for about 15% of global vehicle sales in 2024.

Note: My forecast is for 16% by end 2025.

On October 18, Morningstar reported:

Harnessing the EV revolution, part 4: Next decade will be electric. The immediate future of the global auto industry is electric as it's expected that in just 10 years' time, half of all cars sold will be electrified in some form.....In short, China is leading the race; the EU is catching on; and the gas-guzzling US is yet to be fully converted.....The country's (China's) electric vehicle fleet size is currently 3 million.....A decade from now, this figure is forecast to hit 65 million".

On October 20, Green Car Reports reported:

Winnebago behind $60M funding of Motiv: Is the future of RVs fully electric? The recreational vehicle industry has grown steeply over the past decade, with RV sales nearly triple what they were ten years ago. Yet with signs of the RV boom flattening, companies are clearly interested in a new twist to keep the growth going. That twist could be going electric and embracing sustainability-and completely reformulating RVs in the near future. Medium-duty truck electrifier Motiv will use part of a $60 million injection from Winnebago and a private holding company in Colorado to open an engineering center in Detroit.

Winnebago custom electric RV on Motiv power electric chassis

Winnebago custom electric RV on Motiv power electric chassis

Source

On October 20, CNBC reported:

Electric vehicle prices finally in reach of millennial, Gen Z car buyers. The cost gap between electric vehicle models and traditional gas cars is beginning to shrink.

On October 22, The Verge reported:

Lilium's electric air taxi is finally actually flying in new video. German air taxi startup Lilium has completed its first phase of testing, with its five-seater 36-rotor electric prototype hitting speeds of 100 km/h (62 mph). The company has also completed its first manufacturing facility and has brought on a veteran aerospace executive to oversee its flight program. Lilium says it remains "on track" to launch passenger operations in several locations around the world by 2025.

Source: The Verge

On October 25, Science Mag reported:

The coming electric vehicle transformation. Electric vehicles are poised to transform nearly every aspect of transportation, including fuel, carbon emissions, costs, repairs, and driving habits.....Moreover, the operation and maintenance costs of electric vehicles are substantially lower than for gasoline cars. Today, for high-mileage cars such as taxis, which typically travel 70,000 miles/year, the total cost of ownership of an electric vehicle, including purchase price, insurance, fuel, and maintenance, is much lower than for a gasoline car....Projections of the year of cost parity for electric vehicles with gasoline cars globally range from 2022 to 2026. At that point, economics could well take over as the primary impetus for electrification, and electric vehicles would then be on a path to transportation dominance......The expected rapid increase in electric vehicle sales could threaten the supply chains for lithium, cobalt, and graphite in the short term because of the time required to ramp up new materials production and the relative scarcity of geographic sources.

On October 29, China Daily reported:

China's 1st four-seat electric aircraft makes successful flight. Zhao Tienan, vice-president of Liaoning General Aviation Research Institute, said the takeoff weight of RX4E is 1,200 kilograms and its endurance time 1.5 hours. Its maximum range reaches 300 kilometers with a cruise speed of 200 kilometers per hour. Public information shows that, as of June, there were about 170 electric aircraft research projects around the world, and that number is expected to reach 200 by the end of the year....Zhao said that Liaoning General Aviation Research Institute will take the RX4E aircraft as a platform for further development of seaplanes and hybrid-powered aircraft.

China's 1st four-seat electric aircraft RX4E makes a successful flight

Source: (video)

On October 29, The South China Morning Post reported:

Hong Kong to phase out fossil fuel cars and go all electric over next 20 years, says environment chief. Hong Kong plans to phase out all fossil fuel vehicles over the next 10 to 20 years and switch to electric modes of commercial and public transport to improve air quality, according to the city's environment chief. Buses, taxis and ferries will also move over to a more sustainable fuel source, he says.

EV company news

Tesla Inc. (NASDAQ:TSLA)

Tesla is currently ranked the number 1 globally with 16% global market share. Tesla is the number 1 electric car seller in the US, with 57% market share, and number 1 in Europe with 22% market share.

On October 2, South China Morning Post reported:

Tesla's US$2 billion China factory said to start production this month amid uncertainty over output targets.

On October 6, Green Car Reports reported: "Tesla already topped half a million Smart Summons."

On October 14, Green Car Reports reported:

Tesla Pickup still on track for November reveal. Tesla CEO Elon Musk says the Tesla pickup truck is still on track for a November reveal, as promised.

On October 17, Seeking Alpha reported:

Tesla cleared to start manufacturing cars in China.....Tesla plans to produce at least 1,000 of its Model 3s per week from the Chinese factory, which reportedly could be up and running within weeks.

On October 23, Al Jazeera reported:

Tesla shares soar: CEO Elon Musk announces surprise profits. Tesla earned $1.86 a share in the third quarter, beating analysts' average estimate for a 24-cent loss.....Revenue fell to $6.3 billion in the third quarter, missing analysts' estimates.

On October 23, Green Car Reports reported:

Tesla confirms Model Y ahead of schedule, launch in summer 2020. In a company update released Wednesday to investors, Tesla formally confirmed the launch of the Model Y electric crossover has been moved up to summer 2020. To meet that timeline, production of the Y could begin as soon as early 2020, versus the summer to fall 2020 timeline (with first deliveries before the end of 2020) that Tesla had originally suggested.

On October 30, Green Car Reports reported:

Tesla Model 3 is approved for NYC yellow cab duty. Your next yellow cab ride in New York City might be a little bit greener. New York City has officially approved the Tesla Model 3 for taxi duty.

BYD Co. (OTCPK:BYDDY) (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 19% market share.

On October 23, Inside EVs reported: "BYD e2 Debuts on Chinese market with over 2,000 Sales."

BYD e2

Source

On October 27, Inside EVs reported:

BYD already sold over 1,000 electric buses in Europe. At 2019 Busworld, the company unveiled the latest upgraded versions of the 12-meter model. BYD continues its expansion in the electric bus segment in Europe, reaching cumulative sales of 1,000 buses (delivered or ordered). It's just a few percent of the more than 50,000 buses sold by BYD globally (mostly in China), but considering the market size, BYD is one of the biggest players in Europe.

On October 30, Bloomberg reported (video):

BYD 3Q net income drops 89%. China's biggest electric vehicle maker BYD reported an 89% slump in 3Q net income as demand slows in the world's largest car market.

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 a 7% market share. BAIC is number 2 in China with a 13% market share.

SAIC is global number 4 with 6% market share and number 3 in China with 10% market share.

On October 31, Magnet Marelli reported:

BAIC Group launches "Beijing" car brand in China. The Group said the Beijing brand will be its most important passenger car platform and will be used for conventional internal combustion engine vehicles as well as new energy vehicles.

NB: You can read more on the above news here. Also a recent SAIC report here.

BMW (OTCPK:BMWYY), Mini

BMW is currently ranked the number 5 global electric car manufacturer with 6% global market share. BMW is number 2 in Europe with 14% market share.

On October 23, Green Car Reports reported:

BMW i3 not dead yet, will get another range boost. The BMW i3, which always seems to be on the precipice of discontinuation, is slated for yet another battery upgrade-even in the middle of re-positioning its electrical models as more mainstream-friendly offerings.

On October 29, Green Car Reports reported:

Mini Cooper SE electric car could sell below $19k after incentives in some US markets. Mini's new battery-electric Cooper SE will start at $30,750 when it goes on sale next spring, the company announced Monday. That includes the $850 destination charge, and it doesn't include the $7,500 federal EV tax credit or any other state or local incentive. Mini notes that the SE could be had for as little as $18,750 (incl. destination) in some markets, thanks to local EV incentives.

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 14 with 2% market share. Note Renault jumped 3 places last month.

On October 2, Green Car Reports reported: "Nissan IMk electric minicar concept is so very Japanese, suggests new small EV platform."

Nissan IMk concept

Source

On October 9, Bloomberg reported:

Renault plans bigger electric car to rival Tesla and VW. The [City] K-ZE low-cost car it built for China, partly based on the Indian Kwid model, could eventually be used to build a European affordable all-electric vehicle, he said. Demand for the new 24,000-euro Zoe is expected to be strong, Bouvier said, with Renault pursuing plans to have eight electric models in its lineup by 2022.

On October 23, Green Car Reports reported:

Nissan Ariya previews electric crossover concept at Tokyo auto show. The first mainstream automaker to jump into the electric-car fold now is among the last to confirm a production crossover that runs purely runs on electric power.

Nissan Ariya Concept

Source

Investors can read my recent Trend Investing article: "The Era Of The Truly Affordable Electric Car Is Finally Arriving Soon Helped By Renault."

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

On October 9, Green Car Reports reported:

Pricing and more details for Polestar 2, performance pack version. The biggest divide in EU pricing is in Germany, where the Polestar 2 will start at 58,800 euros (vs. 54,800 euros for the Model 3 Long Range AWD); the gap in The Netherlands and Belgium is a bit smaller (around 1,000 euros). In the UK, Polestar's 49,900-British-pound price tag is 2,000 pounds dearer than the Tesla's.

On October 10, Green Car Reports reported:

Volvo and Geely merging development for engines, still needed in hybrids. Volvo will offload its development of internal combustion engines to a new joint project with parent company Geely, the two companies announced Monday, allowing Volvo's in-house propulsion engineers to concentrate exclusively on electric powertrains.

On October 16, Green Car Reports reported:

All-electric 2021 Volvo XC40 Recharge crossover debuts, aims for more than 200 miles of range. The first all-electric Volvo is also the first Volvo that will continue to improve, the automaker said Wednesday. Volvo rolled out the all-electric XC40 Recharge compact crossover in Los Angeles and said the electric vehicle will have two 150-kw electric motors, one on each axle, that combine to make 402 net horsepower and will be powered by a 78-kwh lithium-ion battery pack. That battery will manage 248 miles of range, measured on the more optimistic WLTP standard. Volvo said we should expect more than 200 miles in the U.S.....On a fast-charger, Volvo says the XC40 Recharge will replenish its battery from zero to 80 percent in about 40 minutes.

2021 Volvo XC40 Recharge

Source

On October 17, Green Car Reports reported: "Volvo is paying plug-in hybrid drivers for all the electricity they use."

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

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

On October 4, Green Car Reports reported:

Audi details Q4 E-tron electric crossover, teases future sedan, performance models. Audi this week has officially confirmed that its Q4 E-tron electric crossover will be built on Volkswagen's modular mass-market electric vehicle platform, termed MEB, reaching the market in early 2021.

On October 11, Green Car Reports reported:

Porsche and Boeing developing "premium urban air mobility vehicle". Porsche and Boeing signed a memorandum of understanding to explore the developing of flying cars, the companies announced Thursday. The notion of a "premium personal urban air mobility vehicle" may sound vague, the new joint venture, Aurora Flight Sciences, is tasked with building a "fully electric vertical takeoff and landing vehicle," which would put them in the running with other firms that are working toward similar offerings intended for urban ride-sharing.

Porsche Boeing premium urban air mobility vehicle

Source

On October 14, Green Car Reports reported:

2020 Porsche Taycan 4S: Lower-priced version might offer longest range. Porsche Monday announced that soon after the introduction of the 2020 Porsche Taycan, a Taycan 4S model will slot below the Taycan Turbo S and Taycan Turbo.

2020 Porsche Taycan 4S

Source

On October 21, Green Car Reports reported:

VW CEO says ramping up EVs won't affect profit margins. Volkswagen has spent billions investing in its shift from diesel powertrains to battery-electric, but when it comes to profitability, its executives say, what's under the hood doesn't really matter. "We do not expect a deterioration in margins. Our advantage is that all our brands have the same platform for electric products and the same batteries that we buy in China," VW CEO Herbert Diess told la Repubblica, Reuters reports.

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 and has 3% market share.

On October 17, Green Car Reports reported:

Official: Kia Soul EV delayed until 2021. Kia confirmed Thursday that its next-generation all-electric Soul EV won't arrive for the 2020 model year, but instead will be delayed until 2021. Kia spokesman Neil Dunlop confirmed the news to Green Car Reports. Dunlop said the delay was due to limited battery supply and electric motor shortages. Dunlop said the Soul EV is slated to arrive sometime in 2021 at the earliest, although that may change.

General Motors/Chevrolet (NYSE:GM)

On October 19, Reuters reported:

Electric Hummer could be part of GM's move into EV trucks, SUVs - sources. General Motors Co (GM.N) plans to build a new family of premium electric pickup trucks and sport-utility vehicles at its Detroit-Hamtramck plant beginning in late 2021. The so-called BT1 electric truck/SUV program is the centerpiece of a planned $3 billion investment in the Detroit-Hamtramck plant to make electric trucks and vans, and part of a broader $7.7 billion investment in GM's U.S. plants over the next four years. GM's BT1 program includes an electric pickup for the GMC brand and an electric SUV for Cadillac, both due in 2023.

On October 15, Green Car Reports reported:

2020 Chevrolet Bolt EV: How GM's only electric car stacks up after 3 years. It's almost a surprise that the Bolt EV is now in its fourth model year. Last week, Chevrolet released a slightly updated version of its only electric car, the Bolt EV.....Its range has risen from 238 to 259 miles, from a battery pack whose energy capacity is up from 60 to 66 kilowatt-hours, due to the use of a new and more energy-dense lithium-ion cell from LG Chem.

2020 Chevrolet Bolt EV charging at Electrify America site, Kelso, Washington

Source

Daimler-Mercedes (OTCPK:DDAIF, OTCPK:DDAIY) (Smart - 50% JV between Daimler & Geely)

In September Car Advice reported:

2020 Smart EQ Fortwo.....The all-electric micro car range will debut in Frankfurt, offering around 150km of range.....All Smart EQ models are powered by a 60kW/160Nm synchronous electric motor, hooked up to a 17.6kWh battery pack.

The 2020 Smart EQ Fortwo electric micro car

Peugeot [PA:PEUP] (OTCPK:PEUGF)

On October 7, Carscoops reported:

Peugeot e-208 EV takes 25 percent of new model's pre-orders. Peugeot started selling its all-new 208 in Europe this month and the first signs are promising, especially for the fully-electric e-208 variant. "Of the 40,000 qualified leads we received, half were for the e-208. A quarter of the pre-orders we got are for the e-208," Peugeot CEO Jean-Philippe Imparato told Autonews Europe.

2020 Peugeot e-208

Source

Toyota (NYSE:TM)

On October 10, Green Car Reports reported:

Lexus teases design of upcoming city-sized electric car. Lexus has released a teaser shot-and video burst-for a new electric-car concept, due to be revealed later this month at the Tokyo Motor Show.

Lexus LF-SA concept, 2015 Geneva Motor Show

Source

On October 10, Green Car Reports reported: "2021 Toyota RAV4 plug-in hybrid confirmed for LA auto show debut."

On October 11, Bloomberg reported: "Toyota plans 10-fold boost to hydrogen bet with restyled sedan."

On October 16, Green Car Reports reported:

Toyota LQ concept looks far out, teases tech that could arrive soon for Lexus. Toyota's LQ concept may be a study in future mobility, but the name may hint at something far more practical from luxury subsidiary Lexus. The LQ concept is the latest iteration of Toyota's Concept-i autonomy showcase, which debuted at CES in 2017.

Toyota LQ concept car

Source

On October 17, Car Advice reported:

2020 Toyota ultra-compact BEV unveiled. The new Toyota Ultra-Compact EV, which will be displayed at the 2019 Tokyo motor show later this month, is one of the first vehicles from the company's pivot toward electric cars, with 10 EVs now due by the early 2020s.....Range on a fully charged battery is said to be 100 kilometres. Charging time is claimed to about five hours using a standard 200V plug. The Ultra-Compact BEV is slated to go on sale in Japan from late 2020.

2020 Toyota Ultra-Compact BEV

Source

On October 22, Green Car Reports reported: "Toyota Yaris Hybrid revealed: Will the Prius C return?"

On October 23, Reuters reported:

Toyota's luxury Lexus brand plans battery EV launch in 2020. Toyota Motor's (7203.T) Lexus will launch its first all-battery electric vehicle next year, as the luxury brand races to market a battery-operated car amid growing competition to develop zero-emissions vehicles..... the goal is for sales of Lexus electric vehicles, including battery electrics and gasoline hybrids, to outpace sales of the luxury brand's gasoline vehicle models by 2025.

On October 23, Green Car Reports reported: "Lexus LF-30 Electrified concept shows brand's vision for an EV in 2030."

Lexus LF-30 Electrified concept

Source

On October 23, Green Car Reports reported: "Lexus confirms first electric car for November intro, plug-in hybrid soon after."

Ford (NYSE:F)

On October 17, Popular Mechanics reported:

Ford is planning a huge North American electric charging network. Ford will launch the largest electric charging network in North America and any electric car will be able to use it. Once complete, the network will nearly triple the number of Tesla charging stations currently available in the same area. [Ford] will be building out 12,000 places to charge electric cars and over 35,000 charge plugs. Ford's major investment in electric vehicles is only beginning: The company hopes to spend $11.5 billion on the technology through 2022.

On October 28, Automotive News China announced: "Ford, Lincoln to build 3 more models in China."

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

On October 9, Green Car Reports reported:

Tata Nexon EV gives India an affordable domestic-brand electric car. The Nexon is the first Tata to employ the company's modernized EV powertrain tech, dubbed Ziptron.....Nexon EV will be available for personal buyers in India from Q4 (Jan-Mar) FY19-20.

On October 25, Motor1.com reported:

Jaguar Vision Gran Turismo is a slinky, all-electric virtual racer.....The Jaguar Vision Gran Turismo, a low-slung all-electric coupe destined for the racing game Gran Turismo Sport.

Jaguar Vision Gran Turismo

Source

Nio Inc. (formerly NextEV) (NIO)

On October 10, Automotive News China announced:

Nio Q3 sales top company forecast. Electric vehicle startup Nio's third-quarter deliveries jumped 35 percent to 4,799, exceeding the company's expectations. Driving the growth was the company's second product, the five-seat Nio ES6 crossover, which went on sale in June.

Rivian Automotive (private)

On October 3, Green Car Reports reported:

Rivian considers subscription model for direct-sales end run. EV upstart Rivian may use a subscription service to give customers more flexibility in their vehicle ownership experience and open up a direct-sales path to customers without running afoul of dealer franchise laws.

Mazda (OTCPK:MZDAY)

On October 23, Automotive News Europe reported:

Mazda extends MX name to new MX-30 electric crossover. Mazda's first mass-production electric vehicle will be a compact crossover called the MX-30 that gets suicide doors and a toned-down slit for a grille. Deliveries of the EV will begin in Europe next year. Media reports said the car may launch in the U.S. in 2021.

Mazda MX-30 electric crossover with a 35.5-kWh battery

Source

Honda (HMC, OTCPK:HNDAF)

On October 7, Green Car Reports reported: "2020 Honda Fit Hybrid with two-motor system likely for Japan and Europe, not the US."

Byton (private)

On October 1, Green Car Reports reported:

Byton M-Byte might bypass China tariff with Korean assembly for the US. China's Future Mobility Corp, parent company of Byton, has inked a deal with South Korea's Myongshin to build the electric M-Byte CUV at the latter's former General Motors facility, potentially allowing the company to bypass U.S. and European tariffs.

On October 25, Inside EVs reported:

Byton starts pre-production Of M-Byte Electric SUV. Globally, the company received more than 50,000 reservations for the M-Byte.....The company expects first customer deliveries in the home market from mid-2020, followed by Europe and North America.

Faraday Future (private)

On October 14, Interesting Engineering reported: "Faraday Future founder files for Chapter 11 with $3.6 billion in debts."

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), Fiat Chrysler (NYSE:FCAU), Fisker (private), Great Wall Motors, GreenPower Motor Company Inc. [TSXV:GPV] (OTCQX:GPVRF), Guangzhou Automobile Group Co., Lucid Motors (formerly Atieva) (private), Mahindra & Mahindra (OTC:MAHDY), 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 October 15, Reuters reported:

Keen to develop self-driving cars, Hyundai Motor Group unveils $35 billion investment plan. Hyundai Motor Group said it plans to invest 41 trillion won ($35 billion) in mobility and other auto technologies by 2025, part of which will be directed to an ambitious effort to become more competitive in self-driving cars that has also received government backing.

2019 electric car sales are looking to be slower growth than 2018

Source: Benchmark Mineral Intelligence & Rho Motion

Conclusion

September 2019 global electric car sales were down 8% YoY. China and US sales were down significantly; however, Europe sales were up 76%. Electric car market share for September reached 4.0% in China, 4.6% in Europe, and 1.9% (YTD, as no September figure) in the USA.

Highlights for the month were:

  • LME seminar participants: Global electric-vehicle adoption rate around 10-12.5% by 2025.
  • Reuters (early 2019) - "29 global automakers are investing at least $300 billion in electric vehicles."
  • Morningstar - "By 2030, we forecast that half of all new auto sales globally will be electrified in some form... In short, China is leading the race; the EU is catching on; and the gas-guzzling US is yet to be fully converted.
  • New report by car reviews and advice website Parkers - "Electric cars travel three times as far as fossil-fuel counterparts for same price. Petrol and diesel are being left way behind when it comes to efficiency."
  • UK announces ground-breaking plan to achieve net zero emissions across every single mode of transport.
  • China's 1st four-seat electric aircraft RX4E makes a successful flight.
  • Hong Kong plans to phase out all fossil fuel vehicles over the next 10 to 20 years and switch to electric modes of commercial and public transport to improve air quality.
  • Tesla achieves a surprise profit in Q3, 2019, shares jump 30% in 2 days. Tesla pickup truck is still on track for a November reveal. Tesla cleared to start manufacturing cars in China.
  • BYD 3Q net income drops 89%.
  • BAIC Group launches "Beijing" car brand in China.
  • BMW's Mini Cooper SE electric car could sell below $19k after incentives in some US markets.
  • Volvo launches first-ever fully electric car, the 2021 Volvo XC40 Recharge crossover.
  • Porsche and Boeing developing "premium urban air mobility vehicle".
  • Volkswagen CEO says ramping up EVs won't affect profit margins.
  • Kia Soul EV delayed until 2021 due to limited battery supply and electric motor shortages.
  • GM plans to build a new family of premium electric pickup trucks and sport-utility vehicles.
  • Smart's (Daimler & Geely JV) trendy 2020 EQ Fortwo electric micro car to debut soon in Germany.
  • Peugeot e-208 EV takes 25 percent of the new model's pre-orders.
  • Toyota plans 10-fold boost to hydrogen bet with restyled sedan. Toyota's luxury Lexus brand plans 100% battery EV launch in 2020.
  • Ford is planning a huge North American electric charging network.
  • Mazda launches its first mass-production electric vehicle the Mazda MX-30 electric crossover.

As usual, all comments are welcome.

Disclosure: I am/we are long BYD CO (HK:1211), TESLA (TSLA), RENAULT [FR:RNO]. 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.