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EV Company News For The Month Of September 2020

Summary

  • Global electric car sales for August 2020 were up 58% YoY, with 3.8% market share (3.1% YTD). Europe electric car sales surged 171% with 11% market share in August. Wow!
  • EV market news: California to ban new gasoline cars by 2035. Tesla Battery Day numbers were mind blowing.
  • Forbes - "Tesla’s $25,000 electric car means game over for gas and oil." BP: The era of oil-demand growth is over.
  • EV company news: Musk says Tesla plans new $25,000 EV in about three years. Toyota accelerates EV plans by five years, targets 5.5m EVs pa by 2025.
  • Groupe PSA and Total create a JV to manufacture batteries in Europe. Nikola and GM form strategic partnership. SAIC to have nearly 100 new EV models by 2025.
  • I do much more than just articles at Trend Investing: Members get access to model portfolios, regular updates, a chat room, and more. Get started today »

Welcome to the September 2020 edition of Electric Vehicle company news. September saw a great global EV sales result for August, boosted by a surge in Europe EV sales again.

By far the biggest news for September was Tesla's Battery Day where Elon Musk mapped out Tesla's new battery and terafactory plans. The numbers were mind blowing, yet many investors did not seem to get it.

Some facts from Tesla Battery Day included 3TWh battery capacity by 2030, enough to make 20 million Tesla EVs pa and energy storage products. 3TWh is about a 100x increase on Tesla's 2019 capacity of about 30GWh. There also was a 56% target reduction in battery costs leading to a possible US$55kWh cost, well below the US$100kWh needed to reach purchase price parity with ICE vehicles. That would allow Tesla to produce a profitable US$25,000 electric car three years from now.

Global electric car sales as of end August 2020

Global electric car sales finished August 2020 with 241,000 sales for the month, up 58% on August 2019, with market share 3.8% for August 2020, and 3.1% YTD.

Of note 67% of all global electric car sales in August 2020 were 100% battery electric vehicles (BEVs), the balance being hybrids.

China electric car sales were 100,000 in August 2020, up 6% on August 2019. Electric car market share in China for August was 5.7%, and 5.0% YTD. A September 2020 report from Bloomberg Green stated: "China's updated NEV target for 2025 is 15% to 25%. For 2035 the NEV target will be 50% to 60%."

Europe electric car sales were 97,000 in August 2020, 171% higher than in August 2019. Europe electric car market share was 11% in August, and 8.4% YTD.

US electric car sales were not reported by EV Sales in

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The Trend Investing group includes qualified financial personnel with a Graduate Diploma in Applied Finance and Investment (similar to CFA) and well over 20 years of professional experience in financial markets. Trend Investing searches the globe for great investments with a focus on "trend investing" themes. Some focus trends include electric vehicles and the lithium/cobalt/graphite/nickel/copper/vanadium miners, battery and plastics recycling, the online data boom, 5G, IoTs, AI, cloud computing, renewable energy, energy storage etc. Trend Investing was recently selected as the leading expert consultancy for a U.S government project on the EV supply chain and to the Board of Directors of the Critical Minerals Institute.

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Comments (71)

veridical profile picture
now , this is how you write an article ,

thanks
whaleshrimp profile picture
The longest report ever writen. Just a bit longer than the reports about the benefits of smoking tobacco 50 years ago. Very useful information and full of investment ideas.
Trend Investing profile picture
Some positive Fisker/SPAQ news just out - "Spartan Energy Acquisition Corp. and Fisker Inc. Announce October 28, 2020 Special Meeting to Approve Business Combination." www.globenewswire.com/...
S
@Matt Bohlsen

IMHO Fisker aint gonna make it. Their SUV/CUV being built on the VW MEB platform. I don't understand a startup with secret sauce why they would do this. So my guess they don't have any secret sauce or what they have is a ways off and just trying to hang on.

Lucid has a chance...Fisker not so much
C
@Skip181sg That was their intention, but at this point there is no Volkswagen partnership. I wouldn't touch this with someone else's money. Fisker has nothing.
Trend Investing profile picture
Fisker error is now removed.
Trend Investing profile picture
@all - In this EV monthly news I accidentally included some Fisker news related to Fisker Surf, that was old news (2011), so I have asked for an edit to delete it as it does not apply to the new Fisker. My apologies for the error.
T
Great comprehensive article. I wonder how many players will around 5 years from now.
J
Toyota is NOT planning to sell 5 mil EVs. they are planning 5 million electrified vehicles, i.e. mostly HEVs
mattgru profile picture
I like FUV for FL. low speed golf carts are popular, but only can go 25 and are not allowed on 40+ roads. Arcimoto seems reasonable for $12k. BUT you need a motorcycle license. Sandy is trying to get Tesla to supply motors etc.
C
@mattgru taking a motorcycle test in a FUV would be a breeze. I like the Idea of using a FUV as a first responder in parks, a pizza delivery vehicle. I think they would work well for tourists in Key West and the like. My only hang up with FUV is the top 1/3 of the country has winter.
XMX2 profile picture
XMX2
04 Oct. 2020
I just want to say thank you for the comprehensive overview, good work.
Trend Investing profile picture
@XMX2 - Thank you. Probably over 10 hours of work.
achilleus profile picture
That airplane is incredible lol
g
"Tesla’s $25,000 electric car means game over for gas and oil... There won’t be any real reason to buy a car that runs on fuel derived from oil and gas anymore."

range ?, for 25k you can buy a new Awd suv instead of a compact toy scooter
s
What happens if all of this EV presser pushes gas $1.00 per gallon?
S
@surveyorM1 The Oil Companies will go bankrupt faster.
bynomeansrichenough profile picture
Still need oil to make plastic parts. don't kill them yet.
Apple Dan profile picture
@Skip181sg

Without oil, your EV is going to be using wood wheels, wood bumpers, wood dash, and no computer (unless they figure out how to mount silicon on wood or glass I guess). If this is what you wish, keep on cheering the end of the oil companies.
MyJourney profile picture
Matt, awesome work! A quick question. The y-o-y is units/$$? And if units, does a depot on an EV count as a sale?
Trend Investing profile picture
@MyJourney - Thank you. Yes YoY is based on units (car sales). Deposit does not count as a sale.
Too big and article to read and understand /digest. Grouping in to 3 to 4 parts would be easier.

Lot of work. Great effort. Keep educating us.
Trend Investing profile picture
@368275 - Thanks. Yes it has grown a lot the past 2 months...So I may look at splitting into two.
S
Someone, please let me know how we will charge all these cars? Where is the electricity coming from? All wind and solar? About the electric grid, strong enough to handle the demand?
D
@Stagecoachraider just need to redirect all the electricity needed to produce gas and diesel...
S
@Stagecoachraider

"Someone, please let me know how we will charge all these cars?"

Energy generation capacity will need to be expanded...but not for a long long time.

Most grids already curtail energy generation in off peak times so charging EV's during off peak is a way to 'drain' the grid of excess power generation rather than curtailment....its cheaper actually.

The UK already has a negative tariff at night when the Wind Farms generate too much power and its cheaper to pay people to draw more power than it is to curtail the power.
R
@Stagecoachraider that is why California requires all new homes to be equiped with solar.

Also,currently, if tell your electric provider you have an EV you are charged $0.145/kwh rather than $0,27/kwh in the daytime.
R
The only Vehicle company to beat out TESLA in sales is called Other!
B
Great in depth article 👏🏻 👏🏻 👏🏻
S
Wow... that is alot....Good work mate
s
With all of the EVs being charged at night, where is the electricity coming from?
R
New solar and wind farms and stored in batteries.
solarpluswindplusstorage profile picture
Of course!!
f
The day Tesla sells 25000-dollar EV cars other manufacturers will have done it before. If that day ever happens.
Ben Gee profile picture
Some Chinese EV are already at or below $25000.
R
@fredrik2109 Never doubt what Elon can and will achieve!
vooch profile picture
There are more than a dozen under $25,000 BEVs being sold right this very minute. Its no big deal.
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