EV Firm Information For The Month Of February 2022

EV Firm Information For The Month Of February 2022

aquaArts studio/E+ through Getty Photographs

Welcome to the February 2022 version of Electrical Car [EV] firm information. February reported very sturdy January 2022 world electrical automobile gross sales, led by China’s BYD Co.

The Russia-Ukraine battle has pushed up oil costs leading to a number of studies now rising that prime gasoline costs are beginning to enhance EV gross sales. It appears to be like like 2022 might be one other nice 12 months for EV gross sales following 2021’s 108% acquire.

World electrical automobile gross sales as of finish January 2022

World electrical automobile gross sales completed January 2022 with 603,000 gross sales for the month, up 87% on January 2021, with market share of 10% for January 2022, and 10% YTD.

Notice: ~2/3rds of all world electrical automobile gross sales in January 2022 have been 100% battery electrical autos [BEVs], the steadiness being hybrids.

China electrical automobile gross sales have been 372,000 in January 2022, up 115% on January 2021 gross sales. Electrical automobile market share in China for January was 17%, and 17% YTD.

Europe electrical automobile gross sales have been 156,000 in January 2022, up 39% YoY, reaching 19% market share and 19% YTD. Germany reached 22% share, France 18%, and Netherlands 23% share in January 2022.

US electrical automobile gross sales weren’t out there. Concerning 2021 USA EV gross sales Cox Automotive reported on January 25, 2022:

Robust End: EV gross sales mark new file in fourth quarter of 2021. gross sales of electrified autos proceed to surge. In all, practically 1.5 million electrified autos – the mixed complete of EVs, hybrids and plug-in hybrids – have been bought within the U.S. final 12 months. Within the fourth quarter, gross sales of pure battery-electric autos jumped 72% to a file 147,799 – the very best quarter ever for EVs…..The selection of pure EVs continues to enhance as nicely: The group at Kelley Blue Guide counted 25 totally different EVs with at the least one sale in This fall. Nonetheless, electrified autos accounted for 9.7% of all gross sales final 12 months; within the fourth quarter, 11.8% of gross sales have been electrified. On the EV aspect, Tesla remains to be the dominant participant, with 72% share of the EV market.

Notice: The above gross sales embrace mild industrial autos.

Notice: An acknowledgement to Jose Pontes and the group at CleanTechnica Sales for his or her work compiling all the electrical automobile gross sales quoted above and charts under.

World plugin electrical automobile gross sales by model (January 2022)

Global plugin electric car sales by brand (January 2022)

CleanTechnica

Source: CleanTechnica

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

The chart under aligns with my analysis that electrical automobile gross sales will actually take-off after 2022. It now appears to be like like electrical automobile gross sales already took off in 2021 with ~6.5m gross sales and 9% market share.

Global EV sales forecast

Mining.com

global EV sales forecast by drivetrain

Bloomberg Hyperdrive

Global passenger electric vehicle sales by region

Bloomberg Hyperdrive

Source: BloombergNEF

EV market information

On January 25 Nikkei Asia reported: “Tesla, BYD increase China costs on EV subsidy cuts and materials prices.”

On February 6 Reuters reported: “Volkswagen doesn’t see chip scarcity ending this 12 months – Automobilwoche.”

On February 11 Reuters reported:

U.S. unveils $5 bln plan to fund EV charging community. The Biden administration on Thursday unveiled its plan to award practically $5 billion over 5 years to construct 1000’s of electrical automobile charging stations. Congress accepted the funding to states as a part of a $1 trillion infrastructure invoice in November.

On February 13 CleanTechnica reported:

US electrical automobile gross sales surge as total automobile gross sales slip — A game-changing development?…… Final quarter, total auto gross sales within the US slipped, however EV gross sales surged. Kelley Blue Book studies that complete automobile gross sales fell by 21.3% in This fall 2021 in comparison with This fall 2020, whereas EV gross sales grew by 72%……As for the truth that EV gross sales soared, it could be extra correct to say that Tesla gross sales soared. Kelley tells us that some 72% of all EVs bought within the US final quarter sported Tesla’s cool cat’s-nose T on their hoods. Tesla additionally dominated the general luxurious market, outselling gasoline fashions from Audi, BMW, Lexus, and Mercedes.

On February 20 Tesmanian reported:

CATL formally begins constructing $440 Million manufacturing facility subsequent to Tesla Giga Shanghai. CATL has formally began constructing a $440 million manufacturing facility subsequent to Tesla Giga Shanghai. The challenge with a complete space of ​​about 350,000 sq. meters might be accomplished and put into operation inside a 12 months. On Saturday it grew to become identified that the development of the plant of the Chinese language battery big CATL close to Tesla Giga Shanghai formally started. That is anticipated to make it simpler to provide batteries to the manufacturing facility that produces electrical autos for the world.

On February 23 InsideEVs reported: “Europe: Electrical truck market nearly tripled in 2021. Volvo Vehicles sells greater than some other producer.”

On February 23 TopElectricSUV reported:

63 upcoming electrical automobiles to be unveiled/launched in 2022 – TES Prime Picks. The auto business is present process a paradigm shift as a result of carbon neutrality targets in North America, Europe, and China, and prime automakers are getting ready a large ZEV onslaught to carry down their common emissions. 2022 would be the 12 months with the very best variety of new electrical automobile ideas, world premieres and market launches. Greater than 60 manufacturing EVs are debuting or launching for patrons this 12 months, and unsurprisingly most are SUVs. Most of the new electrical automobiles 2022 will see debuting and/or coming to the showrooms might be fashions designed from the outset to run solely on electrical energy.

On February 24 TopElectricSUV reported:

10 Actual & Thrilling future electrical truck fashions (2022-2025)…..Research reveals 43% fascinated by proudly owning electrical pickups’ …..By mid-decade (2025), there are at the least ten absolutely electrified fashions of America’s favourite physique model, the pickup truck, which might be able to launch.

Notice: The article’s 10 electrical pickups coming are: RAM 1500 Electrical Truck, Tesla Cybertruck, Rivian R1T, GMC Hummer EV, Chevrolet Silverado Electrical truck, GMC Sierra electrical truck, Ford F-150 Lightning, 2025 Ford F-150 Lightning, Ford Ranger EV, Toyota Tacoma EV.

On February 25 The Australian reported:

Gas shock sparks EV gross sales. The spiralling value of gasoline in Australia helps speed up the shift to electrical autos, with automobile makers saying EV take-up is “taking place far faster than everybody thought”.

EV firm information

BYD Co. [SHE: 002594][HK:1211](OTCPK:BYDDY) (OTCPK:OTCPK:BYDDF)

BYD is at present ranked the #1 globally with 15.5% market share YTD. BYD is ranked #1 in China with ~25% market share YTD.

On February 7, BYD reported:

BYD begins sturdy in 2022 with passenger automobile gross sales of 95,180 models in January, together with 92,926 NEVs…..The NEV gross sales, particularly, reached 92,926 models, rising 367.6% YoY. BYD had a superb begin for 2022 and once more exceeded expectations after attaining an annual gross sales quantity of practically 600,000 models in 2021. Throughout the NEV market, BYD has been constantly selling the technique of growing each pure electrical autos and twin mode autos concurrently. Subsequently, BYD has achieved nice gross sales numbers in each area of interest markets. It bought 46,386 pure electrical autos in January, rising 220.7% YoY. In the meantime, BYD DM fashions bought 46,540 models, rocketing 760.6% YoY, due to its superior DM-i tremendous hybrid know-how.

On February 26 InsideEVs reported:

BYD receives US’ largest electrical truck order from Einride…… In complete, 200 Class 8 BYD 8TT battery-electric day cab vans to be deployed over the course of the approaching twelve months beginning in February. The entire autos might be assembled in Lancaster, California, the place BYD produces additionally electrical buses. In response to the press launch, the BYD 8TT might be outfitted with a 563 kWh battery (LFP) and provide a spread of as much as 200 miles. Quick charging energy peaks at 185 kW (CCS1 connector). Such a order is a giant win for BYD, which already bought over 200 vans within the US and greater than 10,000 globally (the overwhelming majority in China).

Tesla Inc. (NASDAQ:TSLA)

Tesla is at present ranked the quantity 2 globally YTD with 8.5% world market share. Tesla is quantity 4 in China with ~5% market share YTD. Tesla is ranked outside the top 7 in Europe. Tesla remains to be the #1 electrical automobile vendor within the US by far.

On February 2, Inexperienced Automotive Studies reported:

Tesla autos recalled for rolling previous cease indicators. Tesla is recalling 53,822 electrical automobiles to take away software program that enables automobiles to roll by cease indicators, violating most state legal guidelines and rising the potential for crashes.

On February 15 CNBC reported: “Elon Musk unloaded $22 billion of Tesla inventory — and nonetheless owns extra now than a 12 months in the past.”

On February 19 InsideEVs reported:

Tesla Giga Texas: GigaFest date introduced. Tesla’s CEO Elon Musk revealed at this time that the “GigaFest” occasion on the Tesla Giga Austin plant in Texas is scheduled for April 7 (he first mentioned April 1, and later corrected to April 7).

On February 21 Tesmanian reported:

Additional enlargement of Tesla Giga Berlin could also be delayed by the producer, in response to a German media report…..The corporate will give attention to launching the manufacturing of Mannequin Y and battery cells within the battery manufacturing facility. Tesla’s authentic plan in Germany was to construct a manufacturing facility able to producing 500,000 automobiles per 12 months. Within the plans, the producer offered a drawing displaying 4 buildings, the full manufacturing capability of which, as anticipated, must be two million automobiles per 12 months. In response to preliminary estimates, Tesla hoped to begin manufacturing at Giga Berlin in the summertime of 2021 however later pushed again the expectations to October.

On February 22 Tesmanian reported:

First main batch of Tesla Mannequin Y delivers within the UK. Official deliveries of Tesla Mannequin Y have been began within the UK. Tesla delivered greater than 1,000 compact SUVs to its prospects within the nation this previous weekend.

On February 24 Reuters reported:

Unique: Tesla plans new Shanghai plant to greater than double China capability – sources. Tesla Inc (TSLA.O) plans to begin work on a brand new plant in Shanghai as quickly as subsequent month as a part of a plan to greater than double manufacturing capability in China to fulfill rising demand for its automobiles within the nation and export markets, two individuals conversant in the matter advised Reuters. As soon as the brand new plant is absolutely operational, Tesla could have the capability to provide as much as 2 million automobiles per 12 months at its expanded Shanghai facility, the corporate’s essential export hub, in response to the individuals, who requested to not be recognized in discussing still-private plans. The brand new plant might be positioned within the neighborhood of its current manufacturing base in Lingang, Pudong New Space. Tesla declined to remark.

On February 28 CNBC reported:

Tesla shares rally on expectations that German manufacturing facility will open in March……Buyers have been cheering studies that its subsequent manufacturing facility, close to Berlin, Germany, is near receiving approval for industrial manufacturing.

On March 4 looking for Alpha reported: “Tesla wins approval for German Gigafactory.”

Notice: Rumors counsel a giga Berlin opening ceremony might be March 22 or 23.

Buyers can learn my June 2019 Weblog publish: “Tesla – A Look At The Positives And The Negatives”, the place I rated the inventory a purchase. It was buying and selling at USD 196.80 (publish 5:1 inventory cut up is equal to USD 39.36). Or my most up-to-date Tesla article on Development Investing – “A Transient Replace On Tesla And What Is A Truthful Valuation Right this moment Plus My PTs For The Years Forward.”

Wuling Car JV (SAIC 51%, GM 44%, Guangxi 5.9%), SAIC Motor Company Restricted [SAIC] [CH:600104] (SAIC contains Roewe, MG, Baojun, Maxus), Beijing Automotive Group Co. (BAIC)(contains Arcfox) [HK:1958) (OTC:BCCMY)

SGMW (SAIC-GM-Wuling Automobile) is number 3 globally with 8.5% market share year to date. SAIC (excluding SGMW) is 6th with 3.5% market share.

On February 16 Electrive reported: “MG5 Electric to release in Europe in March.”

On February 24 Electrive reported:

MG wants to deliver ID.3 competitor this year. British SAIC brand MG Motor has announced a new electric model to be unveiled in the fourth quarter of this year. It will be a 4.3-meter hatchback called MG4, which is expected to compete with the VW ID.3, among others.

You can read my Trend Investing article: “SAIC Motor Looks To Be A Good Buy Near The 5 Year Low”.

Volkswagen Group [Xetra:VOW](OTCPK:VWAGY) (OTCPK:VLKAF)/ Audi (OTCPK:AUDVF)/ Lamborghini/ Porsche (OTCPK:POAHF)/ Skoda/ Bentley

‘Volkswagen Group’ is at present ranked the quantity 4 top-selling world electrical automobile producer with 8.4% market share YTD, and 1st in Europe with 20% market share YTD.

On February 3 Nikkei Asia reported:

Volkswagen to spice up Chinese language EV capability to 1m by 2023: model CEO. Incoming China chief Brandstaetter seeks ‘quicker, extra impartial’ native improvement.

On February 18 Volkswagen reported: “Welcome again: Volkswagen e-up! out there for order once more.” Highlights embrace:

  • “….e-up! in quantity two place for brand new registrations of all-electric autos in Germany in 2021.
  • Mannequin’s market success contributes to Volkswagen’s electrical offensive….”

Again once more: e-up! Type “Plus” out there from 26,895 euros.

Volkswagen e-up!

Volkswagen web site

Source: Volkswagen web site

On February 23, The Pushed reported:

Audi’s new e-tron GT and RS e-tron GT take electrical DNA from Porsche Taycan. The Audi e-tron GT and RS e-tron GT have been previewed at an occasion in Sydney, giving a primary have a look at the high-performance electrical grand tourers that tip the hat to their stablemate, the Porsche Taycan, in additional methods than one. Audi’s latest electrical choices are set to hit Australian roads in September 2022, and can begin from $181,700 for the e-tron GT quattro and $249,700 for its range-topping RS e-tron GT, all earlier than on-road prices and fees.

First Audi e-tron GT and RS e-tron GT will arrive in September 2022

First Audi e-tron GT and RS e-tron GT

Audi web site

Source: Audi web site

On February 24 Volkswagen reported: “Volkswagen to begin evaluation of Porsche AG IPO.” Highlights embrace:

  • “Administration Board and Supervisory Board conclude framework settlement and resolve to evaluate the feasibility of a possible IPO…..
  • Preliminary public providing of Porsche AG would mark subsequent step in Volkswagen’s transformation from model producer to a vertically built-in mobility Group, offering further flexibility to speed up Group’s NEW AUTO technique.
  • Itemizing would offer extra entrepreneurial freedom to Porsche AG, whereas crystalizing the corporate’s worth for Volkswagen shareholders.
  • Shareholders would obtain particular dividend of 49% of complete gross proceeds within the occasion of a profitable transaction.
  • Staff of Volkswagen AG would take part within the Group’s success with a one-time fee of two,000 Euros per worker.”

Geely Car Holdings Ltd (OTCPK:GELYY, HK:0175), Volvo Automobiles, Kandi Applied sciences Group (NASDAQ:KNDI), Proton, Lotus,

Geely/Volvo is at present ranked quantity 5 within the world electrical automobile producer’s gross sales rating with 6.2% world market share.

On February 1, Inexperienced Automotive Studies reported:

Lotus teases electrical sports activities automobile due in 2026, new “battery cell bundle”. “Lotus is delighted to be collaborating with Britishvolt to develop new battery cell know-how to showcase the thrilling efficiency {that a} Lotus EV sports activities automobile can ship”…..

On February 4, Electrek reported:

Volvo and Northvolt poach Tesla’s head of Gigafactory Berlin to steer new 50 GWh battery manufacturing facility in Sweden……with operations aimed to begin by 2025.

On February 8, Electrek reported:

Volvo Automobiles to speculate over $1 billion to improve Swedish plant with tech-like mega casting for its subsequent technology of BEVs…..

Stellantis N.V. (NYSE:STLA) (merger Fiat Chrysler Group (FCA) and the Peugeot Group (PSA)) Ferrari

Stellantis Group is at present ranked the quantity 7 within the world electrical automobile producer’s gross sales with ~5.1% world market share. Stellantis is ranked 2nd in Europe with 16% market share YTD.

On February 23 Stellantis N.V. reported:

Stellantis posts file leads to its first 12 months with 11.8% AOI Margin[1][2] and €13.4 Billion Internet Revenue(1), on a Professional Forma foundation.

BMW (OTCPK:BMWYY), Mini, Rolls-Royce

BMW Group is at present ranked the quantity 8 world electrical automobile producer with 3.9% world market share. BMW Group is ranked 4th in Europe with 11% market share YTD.

On February 4 BMW Weblog reported:

Rolls-Royce to interchange all present fashions with EVs by 2030. The very first all-electric Rolls-Royce would be the upcoming Spectre.

On February 4 BMW Weblog reported: “2023 BMW i7 teaser video reveals the 7 collection EV testing within the chilly.”

2023 BMW i7

bmw i7 7 series spy

BMW Weblog web site

Source: BMW Weblog web site

On February 11 BMW Group reported: “BMW Group strengthens partnership in China: Extension of Joint Enterprise contract till 2040 enters into power.”

On February 18 Japan Instances reported:

BMW brings new EV to Japan as nation warms as much as electrical automobiles. BMW AG is rolling out its four-door i4 sports activities coupe in Japan, the place shoppers are displaying indicators of higher willingness to purchase electrical autos.

Daimler-Mercedes (OTCPK:DDAIF, OTCPK:DDAIY) (Good – 50% JV between Daimler & Geely) (NB: A proposal to rename Daimler to Mercedes Benz)

Daimler-Mercedes is ranked quantity 9 globally with 3.3% market share. Daimler-Mercedes is ranked fifth in Europe with 11% market share.

On February 7 Inexperienced Automotive Studies reported:

2023 Mercedes AMG EQE electrical sedan places the precedence on efficiency. The 2023 Mercedes-AMG EQE sedan was unveiled Tuesday because the second volume-produced all-electric mannequin from Mercedes-Benz’s AMG efficiency division. AMG already launched a sportier model of the Mercedes-Benz EQS, so now it is transferring on to the smaller EQE sedan, which is due this spring as a 2023 mannequin.

On February 22 Reuters reported:

Mercedes-Benz foresees EV-only manufacturing strains inside a couple of years. “Constructing a complete new battery-electric automobile manufacturing facility takes time. We’ve taken one other method,” Burzer mentioned. “We will definitely have some strains producing solely electrical autos within the subsequent few years…..we additionally see entire factories switching to electrical – that may be a matter for the second half of the last decade.”…..As of 2025, it expects electrical and hybrid electrical automobiles to make up 50% of gross sales, with all-electric automobiles anticipated to account for many of that.

On February 24 Mercedes-Benz Group reported:

Annual outcomes convention 2021: Transformation accelerates with electrical and luxurious focus. “2021 was a 12 months of strategic progress for Mercedes-Benz. Three numbers illustrate how this transformation is gaining traction: Prime-end automobile gross sales rose by 30%, gross sales of electrical automobiles surged 64%, and our adjusted EBIT elevated by 105%…..Other than the relentless give attention to value effectivity and provide chain administration, our strategic priorities are: Scaling electrical autos, accelerating our car-software plans and rising our luxurious enterprise.”

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

Hyundai is at present ranked quantity 11 within the world electrical automobile producer’s gross sales rating with 2.3% market share. Kia is ranked quantity 12 with 2.3% market share.

On February 4, Kia reported: “Kia publicizes January 2022 world gross sales outcomes.” Highlights embrace:

  • “January world gross sales at 212,819 models, down 5.7% y/y…..
  • Kia to speed up transition to sustainable mobility options supplier and create gross sales momentum by new fashions resembling EV6 and all-new Niro.”

On February 10, Hyundai reported: “Up to date IONIQ 5 will include new 77.4-kWh battery and digital mirrors.”

Hyundai IONIQ 5

Hyundai IONIQ 5

Hyundai web site

Source: Hyundai web site

On February 22, Kia reported:

Kia America collaborates with Electrify America to supply EV6 patrons with 1,000 kilowatt-hours charging at no further value.

On March 2 Electrek reported:

Hyundai Motor to speculate $80 billion in future electrification with 17 new BEVs and a brand new modular platform. Throughout its 2022 CEO Investor Day discussion board, Hyundai Motor Group outlined its electrification technique by 2030, which incorporates 17 new BEV fashions. The accelerated method to electrification contains an funding of practically $80 billion in {hardware} and software program applied sciences, as Hyundai Motor appears to be like to seize 7% of the worldwide EV market by the top of the last decade.

Nice Wall Motors [HK:2333] (OTCPK:GWLLF) (OTCPK:GWLLY) [Ora]

GWM is at present ranked quantity 15 within the world electrical automobile producer’s gross sales rating with 2.2% market share.

On February 24 AM-On-line reported:

Nice Wall Motors to launch Ora Cat compact EV in UK. The Chinese language automobile maker plans to determine a small community of outlets within the UK, together with boutique-style showrooms in procuring centres.Costs for the Cat are anticipated to begin at £25,000 – an internet site has been set as much as enable potential patrons to register their curiosity.

XPeng Inc. (Xiaopeng Motors) (XPEV) [HK:9868]

XPeng is at present ranked quantity 17 within the world electrical automobile producer’s gross sales rating with 2.2% market share.

On February 1 XPeng reported: “XPeng publicizes automobile supply outcomes for January 2022.” Highlights embrace:

  • “12,922 autos delivered in January 2022, a 115% improve year-over-year.
  • Cumulative deliveries exceeded 150,000 as of January 31, 2022.”

On February 8 XPeng reported:

XPeng publicizes inclusion of its shares within the Shenzhen-Hong Kong Inventory Join Program.

On February 11 CarNewsChina reported: “XPeng G9 pre-sale to begin in April, with first deliveries in Q3.”

On February 18 XPeng reported: “XPeng to be added to the Cling Seng TECH Index as a constituent inventory.”

You possibly can learn my Development Investing article on XPeng Motors right here and in addition a great latest Searching for Alpha article “XPeng Indicators A Massive Income Beat In 2022.” The article discusses XPeng’s enlargement plans in the direction of 600,000 EVs pa manufacturing within the subsequent ~2-3 years. Extra particulars within the hyperlink under.

Li-Auto (LI)

Li-Auto is at present ranked quantity 18 within the world electrical automobile producer’s gross sales rating with 2.0% market share.

On February 1 Li-Auto reported:

Li Auto Inc. January 2022 supply replace. Li Auto Inc., an innovator in China’s new power automobile market, at this time introduced that the Firm delivered 12,268 Li ONEs in January 2022, representing a 128.1% improve 12 months over 12 months. The cumulative deliveries of Li ONE reached 136,356 because the automobile’s market debut.

On February 25 Li-Auto reported: “Li Auto Inc. publicizes unaudited fourth quarter and full 12 months 2021 monetary outcomes.” Highlights embrace:

  • “Quarterly complete revenues reached RMB10.62 billion (US$1.67 billion).
  • Quarterly deliveries reached 35,221 autos.
  • Quarterly gross margin reached 22.4%.
  • Full 12 months complete revenues reached RMB27.01 billion (US$4.24 billion).
  • Full 12 months deliveries have been 90,491 autos.
  • Full 12 months gross margin reached 21.3%.”

NIO Inc. (NIO)

On February 1 NIO Inc. reported: “NIO Inc. offers January 2022 supply replace.” Highlights embrace:

  • “NIO delivered 9,652 autos in January 2022, rising by 33.6% year-over-year.
  • Cumulative deliveries of the ES8, ES6 and EC6 as of January 31, 2022 reached 176,722.”

Renault [FR:RNO] (OTC:RNSDF)/ Nissan (OTCPK:NSANY)/ Mitsubishi (OTCPK:MSBHY, OTCPK:MMTOF)

On February 8 Motor1 reported:

Nissan ending improvement of combustion engines, besides in USA: Report. As a substitute, the corporate will make investments closely in EV improvement.

On February 10 Renault Group reported:

Renault Group, Valeo and Valeo Siemens eAutomotive be part of forces to develop and manufacture a new-generation automotive electrical motor in France….

On February 18 Renault Group reported: “Renault Group exceeds its 2021 targets and accelerates its Renaulution technique.”

On February 18 Renault Group reported:

First teaser for the long run Renault concept-car. This distinctive idea interprets the Group’s sustainable improvement commitments and interprets them for the Renault model, within the service of sustainable, protected and inclusive mobility. Designed below the route of Gilles Vidal, Renault Design Director, this idea automobile is a part of the corporate’s not too long ago introduced goal of attaining a 100% electrical power combine by 2030.

First teaser for the long run Renault concept-car

Renault concept car

Renault Group web site

Source: Renault Group web site

Ford (NYSE:F)

On February 2 Bloomberg reported:

Ford to spend as much as $20 Billion reorganizing for shift to electrical automobiles. Automaker has mentioned partial spinoff of EV operations…..The hassle, led by a former Apple Inc. and Tesla government, requires Ford to spend a further $10 billion to $20 billion over the following 5 to 10 years changing factories worldwide to electric-vehicle manufacturing from making gasoline-powered automobiles, in response to individuals conversant in the plan. That may be on prime of the $30 billion Ford already has dedicated to EVs by 2025.

On February 5 Reuters reported: “Ford to droop or lower output at 8 of its factories because of chip scarcity.”

On February 16 Ford reported: “All-electric Ford E-Transit collects Gold Award from Euro NCAP for its superior driver help techniques.”

On February 23 CNBC reported: “Ford CEO says automaker has no plans to spin off its electrical automobile enterprise.”

On March 2 Bloomberg reported:

Ford reorganizes to run EV and engine companies individually….The brand new Ford Mannequin e unit will scale up the automaker’s EV choices and develop software program and connected-vehicle know-how and providers for all the firm. Ford Blue will give attention to combustion autos, chopping prices and simplifying operations.

Common Motors/Chevrolet (NYSE:GM)

On February 1 Common Motors reported: “GM Studies 2021 full-year and fourth-quarter outcomes, together with file earnings.”

On February 3 Inexperienced Automotive Studies reported:

GM goals for 400,000 EVs by 2023, confirms Silverado EV at greater than 110,000 reservations. We’ve the groups working to speed up the amount curves for all of those launches and to renew each EV and EUV manufacturing as quickly as doable,” Barra mentioned through the investor name. “And we now have set a goal to ship 400,000 EVs in North America over the course of 2022 and 2023.”

On February 14 Common Motors reported: “…Common Motors publicizes doubling of its local weather fairness fund.”

On February 16 Reuters reported:

GM plans to restart Chevy Bolt EV manufacturing April 4, as recall battery replacements proceed.

Toyota (NYSE:TM)/ Lexus

On February 24 Inexperienced Automotive Studies reported:

2023 Toyota bZ4X electrical SUV will embrace a 12 months of free fast-charging…. in any respect EVgo public fast-charging places. EVgo claims to be the one charging community powered by 100% renewable power. It operates 800 public DC fast-charging places, in addition to Stage 2 chargers as a part of its community, however Toyota specifies that the settlement focuses on fast-charging.

Rivian Automotive (RIVN)

On February 25, Reuters reported:

Rivian ‘making progress’ on manufacturing ramp-up, units market share aim. Rivian Automotive [RIVN.O] is “making progress” within the improve of manufacturing for electrical autos at its Regular, Illinois, meeting plant and is aiming to take 10% share within the EV market by 2030, Chief Government Officer R.J. Scaringe mentioned on Thursday.

Lucid Group (LCID)

On February 17 Lucid Group reported:

Lucid expands retail community with new studio in Quick Hills, New Jersey…..“This location is the primary in a collection of Studio and repair heart openings within the Northeast United States, increasing our presence past our flagship Studio in Manhattan.”

On February 25 MotorTrend reported:

2022 Lucid Air EV recalled over provider points. The recall entails the 203 Lucid Air Dream Version EVs delivered to prospects to this point. “Lucid Group, Inc. (Lucid) is recalling 203 2022 Lucid Airs due to the chance that the entrance strut dampers have been assembled improperly by a provider…..

Polestar Automotive Holding UK Restricted (PSNY) through SPAC Gores Guggenheim Inc. (GGPI)

On February 23 Polestar Automotive Holding UK Restricted reported:

Polestar 0 challenge: open name for collaboration round sustainability. The facility of a number of factors of view…..Greater than something, they foster innovation. Which is simply what it should take to understand our imaginative and prescient of a really climate-neutral automobile by 2030.

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

On February 3 Inexperienced Automotive Studies reported:

Jaguar will get its personal “completely bespoke” EV platform known as Panthera, CEO reveals…..Designers and engineers are aiming to offer Jaguar EVs distinct proportions to set them aside from these of sibling model Land Rover, and that is being baked into the platform from the beginning, he mentioned.

On February 17 Enterprise Right this moment reported: “Tata Motors eyes file sale in This fall FY22 backed by its EV, CNG automobiles….”

GreenPower Motor Firm Inc. [TSXV:GPV] (GP)

On February 1 GreenPower Motor Firm Inc. reported:

GreenPower Motor Firm unveils West Virginia Workforce Improvement & Coaching Partnership prematurely of latest manufacturing facility opening. Collaboration with BridgeValley Group and Technical School & native Workforce Improvement Board will assist supply staff to fabricate all-electric faculty buses by mid-2022.

On February 11 GreenPower Motor Firm Inc. reported: “GreenPower studies fiscal third quarter 2022 monetary outcomes.” Highlights embrace:

  • “Generated revenues of $5,313,352 within the fiscal third quarter, a rise of 121.5% over the income of $2,398,781 for the comparable quarter within the earlier fiscal 12 months.
  • Gross revenue of 27.8% of revenues a rise from the gross revenue of 21.5% over the past quarter…..”

Buyers also can learn my Development Investing article on GreenPower right here.

Workhorse Group Inc. (WKHS)

No important information for the month.

Electrical Final Mile Options Inc. (“ELMS”) (ELMS)

On February 1 Electrical Final Mile Options Inc. reported:

Electrical Final Mile Options publicizes management transition and monetary replace. ELMS Board Member Shauna McIntyre Named Interim CEO and President; Brian Krzanich, ELMS Board Member and CEO of CDK World, to Function Non-Government Chairman of the Board. Transition Follows Resignation of CEO and President James Taylor and Chairman Jason Luo. Firm Advises Non-Reliance on Monetary Statements, Which Shall be Restated.

Lion Electrical (LEV)

On February 21 Lion Electrical reported:

Lion electrical companions with cox automotive mobility to supply nationwide on demand buyer assist.

On February 25 Yahoo Way of life reported: “Lion Electrical publicizes fourth quarter and financial 2021 outcomes.” Highlights embrace:

  • “Supply of 71 autos, a rise of 25 autos, as in comparison with the 46 delivered in the identical interval final 12 months.
  • Income of $22.9 million, up $9.4 million, as in comparison with $13.5 million in This fall 2020.
  • Gross revenue of $2.2 million, down $0.5 million, as in comparison with $2.5 million in This fall 2020.
  • Internet earnings of $28.3 million in This fall 2021, as in comparison with a web lack of $53.0 million in This fall 2020. Internet earnings for This fall 2021 embrace a $46.6 million acquire associated to non-cash lower within the honest worth of share warrant obligations and a $5 million cost associated to non-cash share-based compensation, in comparison with a $31.9 million cost associated to non-cash share-based compensation in This fall 2020……
  • As of December 31, 2021, Lion had $241.7 million in money….

Enterprise Replace

  • “…..Car order e-book[2] of two,325 all-electric medium- and heavy-duty city autos as of February 24, 2022, consisting of 300 vans and a pair of,025 buses, representing a mixed complete order worth of roughly $575 million based mostly on administration’s estimates….”

Nikola Company (NKLA)

On February 22 Nikola Company reported: “Michael Lohscheller named Nikola Motor President.”

On February 24 Nikola Company reported: “Nikola Company studies fourth quarter and full 12 months 2021 outcomes.” Highlights embrace:

  • “Delivered first Nikola Pre-Collection Tre BEVs to prospects and sellers.
  • Executed further buyer LOIs, together with with Heniff Transportation Methods, USA Truck, Saia LTL Freight, and Covenant Logistics Group.
  • Tre FCEV alphas delivered to Anheuser-Busch for pilot testing.
  • Coolidge, Arizona manufacturing facility Section 1 anticipated completion by the top of Q1 2022.
  • Nikola Tre BEV HVIP approval for as much as $150,000 voucher incentive per truck.”

On February 25 Forbes reported:

Nikola shifting to electrical semi manufacturing, constructing first hydrogen gasoline plant. Manufacturing of battery-electric Tre BEV semis begins in late March, and Nikola desires to ship as many as 500 this 12 months—if it may well get sufficient lithium-ion cells and different elements. Longer-range hydrogen vans are to be constructed from 2023.

Close to time period potential EV producing corporations

Faraday Future Clever Electrical Inc. (FFIE)

On February 9, Faraday Future reported: “Faraday Future publicizes partnership with Myoung Shin for FF 81 manufacturing; Asset-Mild Settlement units path to profitability by 2025.” Highlights embrace:

  • “South Korean-based Myoung Shin to fabricate future FF 81 EVs, Faraday Future’s second automobile and first mass-market EV.
  • Begin of Manufacturing (“SOP”) anticipated in 2024, following the launch of FF’s flagship automobile, FF 91, focused for Q3 2022.
  • Excessive quantity, low-capital mannequin leverages world provide chain benefits.”

Lordstown Motors (RIDE)

No important information for the month.

Arrival (ARVL)

On February 7, The Instances reported:

Electrical van maker Arrival’s huge plan to begin small. UK producer is constructing microfactories in unlikely locations to offer itself a head begin.

Hyliion Holdings (HYLN)

On February 23 Hyliion Holdings reported: “Hyliion Holdings studies fourth quarter and full 12 months 2021 monetary outcomes.” Highlights embrace:

  • “Obtained orders from a number of fleets totaling 100 models backed by deposits to safe Hypertruck ERX manufacturing slots.
  • Obtained reservations for a further 325 models of the Hypertruck ERX.
  • Started recognizing income on the Firm’s Hybrid eX powertrain resolution.
  • Launched “Trip and Drive” buyer expertise occasion collection for the Hypertruck ERX…..”

Fisker Inc. (FSR)

On February 3 Fisker Inc. reported: “Fisker Ocean all-electric SUV will make its European debut at Cell World Congress.”

On February 15 Fisker Inc. reported: “Fisker Inc. now accepting reservations for its second product, the Revolutionary Fisker PEAR.” Highlights embrace:

  • Fisker opens reservations for its second product, the PEAR, the Private Electrical Automotive Revolution.
  • Beginning value of $29,900 within the US earlier than taxes and incentives for the five-passenger, all-electric automobile.
  • The agile city EV will begin deliveries in 2024.”

On February 16 Fisker Inc. reported: “Fisker inc. publicizes fourth quarter and financial 12 months 2021 monetary outcomes.” Highlights embrace:

  • Q42021 and 12 months finish 2021 working outcomes inline with expectations, additional establishing Fisker’s monitorfile of spending visibility and self-discipline……
  • Ocean reservations complete greater than 30,000 as of February 14, 2022, together with 1,600 fleet reservations. 2022 YTD retail reservation tempo has elevated greater than 400% versus FY2021.
  • PEAR reservations now open to retail prospects following sturdy buyer outreach and potential for a close totime period order from a big industrial buyer.

On February 18 Searching for Alpha reported:

Fisker remains to be a purchase at Morgan Stanley regardless of slower manufacturing ramp…… Analyst Adam Jonas: “It is an thrilling time for FSR and the potential upside for fairness holders is important, in our view. Nonetheless, traders should additionally steadiness this with the fact that ramping an EV, even with the assistance of Magna, would require important quantities of liquidity to de-risk.” The agency lower its value goal on FSR to $30 because it takes a extra conservative method to expectations with the manufacturing timeline to permit for execution dangers, continued provide chain tightness and historic precedent for a non-linear ramp. Jonas and group additionally famous that Fisker (FSR) reiterated confidence in delivering 45K to 50K models in FY23, however lower FY22 quantity steering to 200 models.

On February 24 Bloomberg reported:

Fisker racks up reservations for an EV it hasn’t even proven to patrons. Fisker Inc. racked up roughly 1,500 reservations inside days for its second electrical automobile, which hasn’t been proven and received’t be delivered till 2024, Chief Government Officer Henrik Fisker mentioned. The Danish-American automobile designer’s second EV firm has taken deposits for the Pear — which is able to begin at about $30,000 within the U.S.

Notice: A 2020 Reuters article quoted: “Fisker is focusing on preliminary gross sales of 8,000 SUVs in 2022, 51,000 in 2023 and 175,000 in 2024.”

You possibly can learn my Development Investing article on Fisker Inc. right here.

Canoo Holdings (GOEV)

No information for the month.

Proterra (PTRA)

No information for the month.

Mahindra & Mahindra (OTC:MAHDY)

On February 1 Mahindra & Mahindra reported: “Tech Mahindra Q3’22 revenues up 18.7% YoY.”

On February 12 Livemint reported: “Mahindra publicizes electrical automobiles, to problem Tata Motors, launch in July 2022.”

EV fleet buying & financing

Ideanomics Inc. (IDEX)

On February 2, Ideanomics, Inc. reported: “US hybrid awarded order for 19 ADA Compliant Electrical Automobiles from AVTA to increase their electrical fleet.”

Three wheel EV corporations

Arcimoto Inc. (FUV)

On February 22, GlobeNewswire reported:

Arcimoto begins operations in new RAMP Manufacturing Facility. U.S. Congressman Peter Defazio, Eugene Mayor Lucy Vinis, and Arcimoto Founder Mark Frohnmayer formally lower the ribbon on the RAMP, which has a goal manufacturing capability of fifty,000 autos per 12 months in 2025.

On February 22, GlobeNewswire reported: “Arcimoto and Faction reveal the D1 next-generation driverless supply automobile.”

On February 24, GlobeNewswire reported:

Arcimoto unveils the Imply Lean Machine. Utilizing Arcimoto’s patented tilting know-how, the Imply Lean Machine is a first-of-its-kind tilting e-trike powered by three hub motors and a pedal generator with no chain, no belt, and no grease.

Electrameccanica Automobiles Corp. (SOLO)

On February 2 Electrameccanica Automobiles Corp. reported:

ElectraMeccanica to start supply of SOLO Cargo EV to fleet and industrial prospects in second quarter of 2022.

Electrameccanica SOLO EV

ElectraMeccanica to Begin Delivery of SOLO Cargo EV to Fleet and Commercial Customers in Second Quarter of 2022

Electrameccanica Automobiles Corp. web site

Source: Electrameccanica Automobiles Corp. web site

On February 7 Electrameccanica Automobiles Corp. reported:

ElectraMeccanica offers industrial fleet replace with 20 autos delivered to fifteen distinctive prospects.

On February 15 Electrameccanica Automobiles Corp. reported:

ElectraMeccanica launches Autonomous SOLO EV Pilot by partnership with Faction Know-how.

Electrical Car ETFs

  • The Amplify Lithium & Battery Technology ETF (BATT) is a broad based mostly EV associated fund value contemplating. It’s at present a buying and selling on a PE of 22.6. On their web site they state: “BATT is a portfolio of corporations producing important income from the event, manufacturing and use of lithium battery know-how, together with: 1) battery storage options, 2) battery metals & supplies, and three) electrical autos.

Different EV or EV associated corporations

Different EV corporations I’m following embrace Envirotech Automobiles (OTCQB:EVTV) (previously ADOMANI Inc., Atlis Motors, Ayro, Inc. (AYRO), Blue Chicken Company (BLBD), Blink Charging (BLNK), Byton (personal), China Evergrande New Power Car Group [HK:3333], Chery Car Co. Ltd. (personal), Didi Chuxing, Dyson (personal), Guangzhou Car Group Co., Honda [TYO:7267] (HMC) (OTCPK:HNDAF), Mazda (OTCPK:MZDAY), Niu Applied sciences (NIU), Qiantu Motor, Sono Group N.V (SEV), (Subaru (OTCPK:FUJHY), Suzuki Motor Corp. [TYO: 7269] (OTCPK:SZKMY) (OTCPK:SZKMF), Tata Motors (TTM) group (Jaguar, Land Rover), WM Motor, and Zhi Dou (personal).

The list of countries and cities banning (or planning to ban) petrol and diesel autos embrace at the least:

  • Norway (2025); UK, Netherlands, Denmark, Germany, Sweden, Iceland, Greece, Eire, Israel, Europe (2030); Scotland (2032); Hong Kong (2030-40); Japan, Canada (2035); France, Spain, Egypt, Taiwan, Singapore, India, New Zealand and Poland (2040).
  • Rome (2024); Athens, Paris, London, Stuttgart, Mexico Metropolis, Madrid (2025); Amsterdam, Brussels, Hainan (2030); California, New York, Quebec Province (2035); Sao Paolo, Seoul (2040).

Notice: Wikipedia has an excellent list showing the phase out of fossil fuels in numerous cities and international locations.

ICE automobile part out goal dates

ICE vehicle phase out target dates

BloombergNEF

Source: Lake Assets e-newsletter courtesy BloombergNEF

Autonomous Driving/Connectivity/Onboard leisure/Trip sharing [TaaS]/ EV leasing/renting

On February 2 Reuters reported:

Self-driving automobile corporations zoom forward, leaving U.S. regulators behind…..Cruise, Tesla, Alphabet Inc’s Waymo and Aurora Innovation Inc are amongst many corporations aiming to deploy absolutely autonomous automobile know-how in the US inside the subsequent two to 3 years, whether or not or not federal regulators give them a transparent authorized framework for doing so. Autonomous automobile startups and automakers are below stress to begin producing income from billions of {dollars} of engineering funding over the previous decade.

On February 27 IOTWorldToday reported:

Mercedes-Benz to roll out Automated Driving System in US…..Mercedes-Benz obtained Stage 3 autonomous driving system approval in December from the German Federal Motor Transport Authority, a transfer anticipated to pave the best way for worldwide rollouts. The corporate was the primary producer to place conditionally automated driving into manufacturing in Germany.

On March 1 CleanTechnica reported:

Waymo to begin charging robotaxi passengers in San Francisco……Waymo is on the verge of taking one other step towards profitability (even when that’s nonetheless far, far away) and can cost riders within the San Francisco space real-life cash to get a journey. A part of the delay commencing non-free rides is that Waymo needed to get a particular allow from the California Public Utilities Fee (CPUC) to cost prospects for its service. That has reportedly been secured…… Waymo has lengthy had no security drivers in its autos in Phoenix, and I’m certain it will likely be wanting to get to that stage in San Francisco as soon as sufficient knowledge are collected…..We don’t but know what the worth of Waymo rides might be in San Francisco.

BNEF 2020 forecasts by fleet kind

BNEF 2020 forecasts by fleet type

BloombergNEF

Source: BloombergNEF 2020 EV report

Conclusion

January 2021 world electrical automobile gross sales have been up 87% YoY and reached 10% world market share; 17% share in China, 19% in Europe, and no figures for the USA.

Highlights for the month have been:

  • USA 2021 gross sales – Electrified autos accounted for 9.7% of all gross sales final 12 months; Tesla remains to be the dominant participant, with 72% share of the EV market.
  • USA This fall 2021 – US electrical automobile gross sales surge as total automobile gross sales slip — A game-changing development?
  • Volkswagen to spice up Chinese language EV capability to 1m by 2023, doesn’t see chip scarcity ending this 12 months, evaluation of Porsche IPO.
  • U.S. unveils $5 bln plan to fund EV charging community over 5 years.
  • Europe: Electrical truck market nearly tripled in 2021.
  • 10 totally different electrical pickups coming to the USA by 2025.
  • Gas shock sparks EV gross sales.
  • CATL formally begins constructing $440 Million manufacturing facility subsequent to Tesla Giga Shanghai.
  • Tesla plans new Shanghai plant to greater than double China capability – sources. Capability to extend to 2 million pa. Tesla declined to remark. Tesla “GigaFest” occasion at Giga Austin plant in Texas scheduled for April 7. Tesla wins approval for German Gigafactory.
  • SAIC MG5 Electrical to launch in Europe in March.
  • Volkswagen to spice up Chinese language EV capability to 1m by 2023.
  • BYD begins sturdy in January 2022 with 92,926 NEV passenger automobile gross sales. BYD receives US’ largest electrical truck order from Einride.
  • Rolls-Royce to interchange all present fashions with EVs by 2030.
  • Mercedes-Benz foresees EV-only manufacturing strains inside a couple of years.
  • Lotus teases electrical sports activities automobile due in 2026, new “battery cell bundle”.
  • Volvo Automobiles to speculate over $1 billion to improve Swedish plant with tech-like mega casting for its subsequent technology of BEVs.
  • Hyundai Motor to speculate $80 billion in future electrification with 17 new BEVs and a brand new modular platform, by to 2030.
  • Nissan ending improvement of combustion engines, besides in USA: Report. As a substitute, the corporate will make investments closely in EV improvement.
  • Ford to spend a further as much as $20B reorganizing for shift to electrical automobiles. Ford to droop or lower output at 8 of its factories because of chip scarcity. Ford reorganizes to run EV and engine companies individually.
  • XPeng’s EV manufacturing capability to develop to 600,000pa by ~2024.
  • GM goals to ship 400,000 EVs in North America over the course of 2022 and 2023.
  • Jaguar will get its personal “completely bespoke” EV platform known as Panthera, CEO reveals.
  • Nikola delivers first Nikola Pre-Collection Tre BEVs to prospects and sellers.
  • Fisker Ocean reservations complete >30,000 as of February 14, 2022. Now accepting reservations for its second product, revolutionary Fisker PEAR.
  • Self-driving automobile corporations zoom forward, leaving U.S. regulators behind.
  • Waymo to begin charging robotaxi passengers in San Francisco.

As standard all feedback are welcome.