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Welcome to the September 2023 edition of Electric Vehicle [EV] company news.
September saw the continuation of a 2023 trend with the China EV sales 'growth rate' slowing and USA growth rate increasing. Of course, in raw numbers Chinese EV sales are much larger than USA.
Global plugin electric car sales were 1,238,000 in August 2023, up 45% on August 2022 sales. Global plugin electric car market share in August was 18%, and ~16% YTD (not updated this month).
China plugin electric car sales were 750,000 in August 2023, up 36% on August 2022 sales. Plugin electric car market share in China for August was 39%, and 36% YTD.
Europe plugin electric car sales were ~270,000 in August 2023, up 68% YoY, reaching 30% market share and 23% YTD. Norway reached 90% share, Sweden 60.1%, Netherlands 45%, Germany 37%, France 26%, UK 27.8%, and Australia 6.4%.
USA plugin electric car sales were 126,294 (as reported by Argonne National Laboratory) in August 2023, up 71.5% on August 2022 sales. Plugin electric car market share in USA for August was 9.51%.
Note: Globally 100% battery electric cars represented 70% market share YTD of all plugin electric cars sold.
Note: The above sales include light commercial vehicles.
Note: An acknowledgement to Jose Pontes and the team at CleanTechnica Sales for their work compiling all the electric car sales quoted above and charts below. Also the team at EV-Volumes for their great work.
Top selling global plugin electric car auto groups Jan-August, 2023 (source)
CleanTechnica
Global electric car sales reached 10.522m in 2022 and 13% market share (source)
EV-Volumes
Note: 73% of electric car sales in 2022 were 100% battery electric vehicles (BEVs), and 27% were being plugin hybrids.
Bloomberg breakdown of EV sales by year and region (source) - Forecasts 13.6m plugin electric car sales in 2023
BloombergNEF
Note: Trend Investing's updated forecast for 2023 is 13.4m sales (17% market share).
Global plugin electric car sales forecast to grow exponentially this decade
Mining.com courtesy DoI,I,S 
Seeking Alpha's Trend Investing forecasts exponential global electric plugin car sales from now to 2040. By end 2025 sales to reach 23.8m pa (28% market share) and by end 2030 to reach 49.3m pa (58% market share).
Global plugin electric car sales forecast to 2040 (green bars)
Trend Investing
BloombergNEF forecasts (as of mid 2022): "Plug-in electric vehicles sales rise from 6.6 million in 2021 to 20.6 million in 2025" and "by 2025, plug-in electric vehicles represent 23% of new passenger vehicles sales globally, up from just under 10% in 2021."
BloombergNEF forecasts ~40.4% global passenger EV market share in 2030 and 75.3% in 2040 (published June 2022)
BloombergNEF
On September 13 CleanTechnica reported (regarding USA):
54% of gas-powered vehicle drivers say they’re ready to make an EV their next purchase or lease.
On September 14 Charged EVs reported:
DOE announces $15.5 billion in funding to support legacy automakers’ transition to EVs. The US DOE has announced a $15.5 billion package of funding and loans primarily focused on retooling existing factories for the transition to EVs. This includes $2 billion in grants and up to $10 billion in loans to support automotive manufacturing conversion projects, along with $3.5 billion in funding to expand domestic manufacturing of batteries, battery materials and components for EVs and the electrical grid. Overriding objectives of these programs include building domestic supply chains to reduce dependence on overseas suppliers, and retaining and/or expanding high-quality jobs in the automotive industries.
On September 15 CleanTechnica reported:
EV sales growing faster than forecasted, oil demand peaked in 2019... There is a clear exponential growth pattern for EVs, as rising sales track along an S-curve. Led by Northern Europe and China, and driven by policy, it is taking around six years for EVs to go from 1% to 10% of new car sales. The next stage is quicker still: In leading countries, it is taking another six years to get to 80%...By 2030, EVs will dominate global car sales. If we continue to solve the challenges and sales continue up the S-curves, then EVs will make up between 62% and 86% of global car sales by 2030, with China enjoying an EV market share of at least 90%. Meanwhile, consensus sales forecasts are lagging and get upgraded every year.
Note: Bold emphasis by the author.
Electric vehicles’ share of global car sales forecast (source)
CleanTechnica courtesy Rocky Mountain Institute
On September 16 CleanTechnica reported: "EVs to surpass ⅔ of global car sales by 2030, putting at risk nearly half of oil demand."
On September 19 Shell reported:
Shell opens its largest EV charging station in China. Shell has opened its largest electric vehicle (EV) charging station globally in Shenzhen, China. The charging station is located about 2.5 kilometres from the Shenzhen Airport Terminal and features 258 public fast-charging points.
Shell opens its largest EV charging station in China with 258 public fast-charging points (source)
Shell
On September 19 South China Morning Post reported: "Top Chinese EV makers like BYD poised for global expansion by 2030 thanks to ‘overwhelming’ cost advantages: UBS." Highlights include:
On September 21 CleanTechnica reported:
The EV Revolution in 5 Charts. The exponential growth of electric vehicles marks the end of the ICE age, putting half of oil demand at risk...
1. EV Sales are growing exponentially up S-curves...
2. Forecasters keep underestimating the speed of EV growth...
3. The drivers of change are getting stronger...
4. Exponential growth will continue...
5. The growth of EVs pushes the ICE fleet and oil demand for cars into terminal decline...
EV Sales are growing exponentially up S-curves (source)
CleanTechnica
CleanTechnica
Exponential growth will continue (source)
CleanTechnica
On September 22 CleanTechnica reported:
US Electric Car Sales Up 147% Since 2021 — CleanTechnica Report.....the BEV market now accounts for 7% of US auto sales.
On September 23 CleanTechnica reported:
Electric Vehicle sales in US hit the accelerator pedal — Even beyond California. With more electric vehicle choices than ever, EV sales in the US are hitting new heights. In just the first half of 2023, over 670,000 EVs were sold with over 80 percent of those fully-electric battery electric vehicles (BEVs). It took 8 years for the first million EV sales – but now more than a million have been sold in just the past 12 months.
On September 27 CNN reported:
Autoworkers union may expand its strike again. The United Auto Workers union is preparing to announce a possible expansion of its strike against General Motors, Stellantis and maybe Ford this Friday if there isn’t more progress in talks.
On September 28 the UK Government announced:
Government sets out path to zero emission vehicles by 2035. 80% of new cars and 70% of new vans sold in Great Britain set to be zero emission by 2030, increasing to 100% by 2035.
BYD Co. [SHE: 002594][HK:1211](OTCPK:BYDDY, OTCPK:BYDDF)
BYD is currently ranked the number 1 globally with 21.8% market share YTD (Jan-Aug. 2023). BYD is ranked number 1 in China with 35.2% market share in Aug. 2023.
On September 13 Car News China reported:
BYD takes over BMW, Mercedes, Aston Martin stores in China. BYD’s high-end brand, Fang Cheng Bao (FCB), announced in August it is building 100 stores in 60 cities in China.
On September 19 Reuters reported: "China's BYD rides on partnerships to expand EV sales in Southeast Asia..."
On September 20 CNEVPOST reported: "BYD Yangwang's 1st model U8 officially launched for $150,600."
BYD Yangwang U8 - Priced at 1,098,000 RMB with deliveries to start Oct. 2023 (source)
BYD website
On September 28 Car News China reported: "BYD became the world’s fourth best-selling car brand in August, surpassing Ford in sales."
Tesla Inc. (NASDAQ:TSLA)
Tesla is currently ranked the number 2 globally with 14.4% global market YTD (Jan-Aug. 2023). Tesla is number 2 in China with 8.4% market share in August 2023. Tesla is ranked 3rd in Europe with 12.3% market share in August 2023. Tesla is still the number 1 electric car seller in the US by far with ~60% market share YTD.
On September 9 CleanTechnica reported: "Tesla to build next-generation vehicle in Austin before Mexico!"
On September 13 Teslarati reported:
Tesla lands EU funding for V4 Supercharger installations and expansions. Tesla has landed nearly €149 million in funding from the European Union to support the update and expansion of its Supercharger network in Europe. It appears the funding will be used to install or upgrade over 7,000 Superchargers to the new V4.
On September 15 Electrek reported: "Tesla might have 2 million Cybertruck reservations, tally says."
On September 18 CNEVPOST reported:
Tesla's 5 millionth vehicle rolls off line at Shanghai plant...It took Tesla 12 years to see its one millionth vehicle roll off the line, and just 18 months to produce its second millionth vehicle, according to the company. It took Tesla a shorter 11 months to go from its 2 millionth to 3 millionth car off the line. It took seven months to go from 3 million to 4 million, and six months from the 4 millionth to the 5 millionth, it said.
On September 21 Seeking Alpha reported: "Tesla expands EV ambitions in India with proposal to make battery storage systems."
On October 2 Seeking Alpha reported:
Tesla reports sequential drop in deliveries due to factory downtime...Tesla (NASDAQ:TSLA) disclosed on Monday that it produced 430,488 vehicles and delivered 435,059 vehicles during Q3. The electric vehicle maker said a sequential decline in volumes was caused by planned downtimes for factory upgrades...
Note: Tesla's 2023 volume target of around 1.8 million vehicles remains unchanged.
On October 2 Seeking Alpha reported: "Tesla rolls out updated Model Y in China; starting price unchanged."
Volkswagen Group [Xetra:VOW](OTCPK:VWAGY) (OTCPK:VLKAF)/ Audi / Lamborghini/ Porsche (OTCPK:POAHF)/ Skoda/ Bentley
'Volkswagen Group' is currently ranked the number 3 top-selling global electric car manufacturer with 7.3% market share YTD, and 1st in Europe with 20.4% market share in Aug. 2023.
On September 3 Volkswagen announced:
Sporty, electric, emotive: Volkswagen presents the ID. GTI Concept show car...by 2027, Europe’s largest automotive manufacturer will launch eleven new all-electric models and thus offer the widest electric vehicle range of all manufacturers – from a compact car priced as less than 25,000 euros through to a family saloon...
Sporty, electric, emotional: the ID. GTI Concept (source)
Volkswagen
On September 4 Reuters reported:
"Audi sees small 2023 sales lift ahead of big 2024 EV push...Audi is belatedly working to catch up with German rivals BMW and Mercedes in the transition to electric.
On September 8 Volkswagen announced:
Volkswagen presents the concept car ID.X Performance in Locarno. All-wheel-drive vision of an all-electric sports limousine with 411 kW (558 PS)...
The all-new ID.X Performance at the ID. Treffen in Locarno. (source)
Volkswagen
On September 18 Electrek reported:
Volkswagen to stop EV production at German plant where ID.3 models are built. The fate of Volkswagen’s plant in Dresden, Germany, is up in the air after a new report claims the automaker plans to halt production at the facility. Volkswagen’s Dresden plant built thousands of ID.3 electric models last year, employing around 300 full-time workers...
On September 24 Automotive News reported:
Bentley takes its first crack at EVs in 2026. Bentley's push for full electrification by 2030 will result in its first full EV in the U.S. market in 2026...
On September 27 Reuters reported:
Volkswagen to temporarily cut production of two EV models due to weaker demand -spokesperson. Volkswagen (VOWG_p.DE) will suspend production of ID.3 and Cupra Born electric cars at its Zwickau and Dresden plants in Germany in the first two weeks of October due to weaker demand, a spokesperson for the carmaker said on Tuesday. Due to the current market situation, vehicle production will be reduced during the autumn holidays in Saxony from Oct. 2 to Oct. 13 at Volkswagen's Zwickau plant, the spokesperson said. Germany's dpa news agency first reported the news.
Geely Automobile Holdings Ltd (OTCPK:GELYY, HK:0175), Volvo Cars, Kandi Technologies Group (NASDAQ:KNDI), Proton, Lotus, Zeekr, Lynk. (Note: Volvo Group is a separate company that makes e-trucks & e-buses)
Geely-Volvo is currently ranked number 4 in the global electric car manufacturer's sales ranking with 6.1% global market share YTD. Geely-Volvo is ranked 5th in Europe with 8.1% market share in Aug. 2023.
On September 7 Lotus announced:
Lotus unveils Emeya, its first Hyper-GT...Emeya is the new electric grand tourer [GT] from Lotus, designed for the drivers...Emeya is one of the fastest electric GTs in the world, with acceleration of 0-62mph (0-100km/h) in under 2.8 seconds. Production is slated to begin in 2024. Emeya will join as a flagship model in the Lotus line-up of luxury performance electric vehicles.
Lotus Emeya Hyper GT (source)
Lotus
On September 8 Electrek reported:
Volvo preps for an all-EV future with plans to shift US and Canadian workforce. Volvo Cars is preparing to go all-electric by 2030. To do so, Volvo is shifting US and Canadian operations as part of an $88 million restructuring effort to boost the brand’s competitiveness in the future...According to sources, Volvo is trimming over 10% of its white-collar workforce in the US and Canada...
On September 14 Reuters reported: "Indonesia asks China's Geely to help build homegrown EV by 2026..."
On September 19 Volvo Cars announced:
Volvo Cars declares the end of diesel at Climate Week NYC – our last diesel car will be produced in early 2024...By 2030 we plan to sell only fully electric cars and by 2040 we aim to be a climate neutral company. That clear roadmap towards all-out electrification represents one of the most ambitious transformation plans of any legacy car maker. To underline our commitment to those ambitions, today at Climate Week NYC we announce the end of production of all diesel-powered Volvo Car models by early 2024. In a few months from now, the last diesel-powered Volvo car will have been built, making Volvo Cars one of the first legacy car makers to take this step.
On September 25 Bloomberg reported: "Chinese EV Maker Zeekr Sweeps Into Europe Amid Spat." Highlights include:
On September 27 Business Wire reported:
Kandi America acquires new distribution center to accommodate planned Growth. Kandi America (“Kandi” or the “Company”), a leading distributor of all-electric personal transportation and utility vehicles, a.k.a. SC Autosports, LLC, a fully owned subsidiary of Kandi Technologies Group, Inc., (Nasdaq: KNDI), today announces the acquisition of a state-of-the-art distribution center (“DC”) in suburban Dallas, Texas. This DC to be operated by Kandi reflects the necessity to accommodate steadily accelerating momentum in its U.S. all-electric sport vehicle business.
On September 27 Lotus announced: "New Lotus flagship brand centre opens in luxury district of Paris." Highlights include:
Wuling Automobile JV (SAIC 51%, GM 44%, Guangxi 5.9%), SAIC Motor Corporation Limited [SAIC] [CH:600104] (SAIC includes Roewe, MG, Baojun, Maxus)
SGMW (SAIC-GM-Wuling Automobile) is number 5 globally with 5.4% market share YTD. SAIC/GM/Wulin JV [SGMW] plus SAIC is 4th in China with 5.6% share in Aug. 2023.
No electric vehicle related news for the month.
Stellantis N.V. (NYSE:STLA) (merger Fiat Chrysler Group (FCA) and the Peugeot Group (OTCPK:PEUGF) Ferrari (Jeep, Chrysler, Dodge, and RAM are all owned by FCA)
Stellantis Group is currently ranked the number 6 in the global electric car manufacturer's sales with 4.6% global market share YTD. Stellantis is ranked 2nd in Europe with 14% market share in Aug. 2023.
On September 8 Stellantis N.V. announced: "Stellantis celebrates opening of its First Battery Technology Center in Italy."
On September 11 Stellantis N.V. announced: "Stellantis announces launch of third tranche of its Share Buyback Program....covering up to €1.5 billion..."
BMW (OTCPK:BMWYY), Mini, Rolls-Royce
BMW Group is currently ranked the number 7 global electric car manufacturer with 4.1% global market share YTD. BMW Group is ranked 4th in Europe with 9.7% market share in Aug. 2023.
On September 11 BMW Group reported:
MINI Plant Oxford goes Electric: £600m investment for all-electric MINI production in the UK. Investment will transform MINI Plant Oxford to an all-electric production site from 2030. Production of two new electrified models – MINI Cooper 3-door and MINI Aceman - will start in the UK in 2026...
On September 21 Motor Authority reported: "BMW may change model designations with Neue Klasse EV launch..."
Hyundai (OTC:HYMTF), Kia
Hyundai-Kia Group is currently ranked number 8 in the global electric car manufacturer's sales ranking with 4.1% market share YTD.
On September 1 Kia announced: "The Kia EV9 wins Luxury Category in German Car of the Year 2024 Awards..."
On September 27 Kia announced:
All-new 2024 Kia EV9 starts at $54,900...Standard 800V architecture permits DC fast charging; 10 to 80 percent state-of-charge in under 25 minutes. Standard seating for up to seven passengers. In 2024, EV9 is expected to be the first EV for Kia to be assembled in North America.
GAC Group (Guangzhou Automobile Group Co. Ltd.)
GAC Group is currently ranked number 9 in the global electric car manufacturer's sales ranking with 4% market share YTD. GAC Group is ranked 3rd in China with 6.6% market share in Aug. 2023.
On September 12 Just Auto reported:
GAC Aion to build EVs in Thailand. Began shipping Aion Y Plus to establish presence before production. AC Aion, the electric vehicle (EV) unit of Chinese state-owned automaker Guangzhou Automobile (GAC), said it would begin assembly of electric vehicles (EVs) in Thailand by June 2024.
Mercedes-Benz Group [GER:MBG] (OTCPK:MBGAF, OTCPK:MBGYY) (Smart - 50% JV between Mercedes-Benz Group & Geely) (NB: Daimler was renamed to Mercedes-Benz Group)
Mercedes-Benz Group is ranked number 10 globally with 2.8% market share YTD.
On September 4 Mercedes-Benz announced:
The Mercedes-Benz Concept CLA Class unveiled at IAA Mobility 2023 in Munich, Germany, offers a close-to-production insight into the upcoming family of vehicles that stands at the gateway to the brand.
Mercedes-Benz Concept CLA Class at IAA Mobility 2023 (source)
Mercedes-Benz
On September 4 Reuters reported: "Mercedes boss: EV costs will remain higher for foreseeable future..."
On September 5 Reuters reported: "Mercedes-Benz: Europe likely won't be ready for all-electric sales by 2030..."
Li-Auto (LI) [HK:2015]
Li-Auto is ranked 5th in China with 4.5% market share in Aug.2023.
On September 1 Li-Auto announced:
Li Auto Inc. August 2023 delivery update...the Company delivered 34,914 vehicles in August 2023, up 663.8% year over year, with monthly deliveries for each of the three Li L series models exceeding 10,000 vehicles. The cumulative deliveries of Li Auto vehicles in 2023 reached 208,165 as of the end of August...
Great Wall Motors [SHE:601633] [HK:2333] (OTCPK:GWLLF, OTCPK:GWLLY) [ORA]
On September 7 Great Wall Motors announced:
GWM achieves record-breaking overseas sales in August...GWM’s NEV models recorded sales of 26,301 units, reflecting a substantial YoY increase of 119.83%...
Ford (NYSE:F)
On September 26 Reuters reported:
Ford pauses work on $3.5 bln battery plant in Michigan...citing concerns about its ability to competitively operate the plant at a time when it remains locked in broader contract negotiations.
NIO Inc. (NIO)
On September 1 NIO Inc. announced: "NIO Inc. provides August 2023 delivery update." Highlights include:
On September 25 NIO Inc. announced: "NIO Inc. announces closing of US$1 billion convertible senior notes Offering..."
On September 25 NIO Inc. announced: "NIO Inc. responds to market speculations."
XPeng Inc. (Xiaopeng Motors) (XPEV) [HK:9868]
On September 1 XPeng Inc. announced: "XPENG announces vehicle delivery results for August 2023." Highlights include:
General Motors (GM), Chevrolet
On September 28 CNBC reported:
Automakers grow frustrated over pace of UAW negotiations as new strike deadline looms...GM and Stellantis have grown increasingly frustrated by a lack of participation from Fain and what they say are delays in receiving counter proposals from the union, sources said.
Renault [FR:RNO] (OTC:RNSDF)/ Nissan (OTCPK:NSANY)/ Mitsubishi (OTCPK:MMTOF)
On September 6 CarExpert reported:
Renault Australia keen to take the Scenic route to new electric SUV. No longer a small MPV, the latest Renault Scenic has a more SUV-like shape and a choice of two electric powertrains with up to 620km of range...
On September 26 Nissan Motor Corporation announced: "Nissan counts down to electric-only sales in Europe." Highlights include:
On September 27 Reuters reported: "Mitsubishi Motors to exit from China production, Nikkei reports."
On September 26 Repairer Driven News reported: "Nissan to go all-electric in Europe by 2030 as OEMs ramp up EV plans."
On October 3 Nissan announced:
Nissan reveals all-electric Nissan Hyper Urban concept toward Japan Mobility Show. First in series of exciting EV concepts aimed to meet diverse aspirations...
Nissan all-electric Hyper Urban concept (source)
Nissan
Polestar Automotive Holding UK Limited (PSNY)
On September 26 Polestar announced:
...Development of Polestar 3 continues at pace and is nearing completion, after two weeks of extreme hot weather testing in the United Arab Emirates. With production planned to start in the first quarter of 2024, Polestar will soon have three models on the road, including the two new SUVs, Polestar 3 and Polestar 4.
Polestar 3 Concept (source)
Polestar
Hozon New Energy Automobile Co. (private) (owns Neta)
On September 1 Reuters reported: "China EV maker Hozon Auto appoints banks for $1 billion Hong Kong IPO, sources say..."
On September 27 Car News China reported:
Chinese EV maker Hozon Neta plans three new models by 2025. The Zhejiang manufacturer, Hozon Neta, plans to release three new models in the next three years. All of the models will be priced below the threshold for luxury cars, 300,000 yuan (41,000 USD).
Rivian Automotive (RIVN)
On September 8 Reuters reported: "Rivian to benefit next year as EV battery material prices ease, CFO says..."
Lucid Group (LCID)
On September 27 Lucid Group announced:
Lucid Group makes history in Saudi Arabia as it opens country’s first-ever car manufacturing facility...The AMP-2 facility has begun semi knocked-down (SKD) assembly and is expected to have an annual capacity of 5,000 cars. The initial operation re-assembles Lucid Air vehicle ‘kits’ that are pre-manufactured at the company’s U.S. AMP-1 Manufacturing Facility in Casa Grande, Arizona. Lucid aims to transition AMP-2 to complete build unit [CBU] production after the middle of the decade, with an additional annual capacity of 150,000 cars.
Beijing Automotive Group Co. (BAIC)(includes Arcfox) [HK:1958) (OTC:BCCMY)
On September 8 Reuters reported: "China EV adviser sees tech tie-ups resolving EU trade conflicts..."
On September 21 Car News China reported:
ArcFox Kaola launched in China as a car designed for mothers with babies...After the pre-sales starts, Kaola attracted over 5,000 orders. And now, it is ready for the deliveries in four trims with 164 hp, 500 km of CLTC range and a starting price of 131,800 yuan (18,100 USD)...
Fisker Inc. (FSR)
On September 26 Fisker Inc. announced: "Fisker expects to ramp deliveries to 300 vehicles per day; Company has manufactured 5,000 Fisker Ocean All-electric SUVs." Highlights include:
Toyota (NYSE:TM)/ Lexus
On September 14 Electrek reported:
Toyota promises new EVs coming in 2026 with nearly 500 miles of range...At a technical briefing in June, Toyota revealed several new innovations, including advanced battery plans, improvements in aerodynamics, and manufacturing upgrades as it looks to boost EV sales with its next-gen electric models...
On September 22 Reuters reported:
Toyota to speed up EV production, aims for over 600,000 vehicles in 2025, Nikkei reports. Toyota declined to comment on the report. The company has previously said it targets sales of 1.5 million EVs annually by 2026 and 3.5 million, or about one-third of current global volume, by 2030.
Tata Motors (TTM) group (Jaguar, Land Rover)
On September 14 Reuters reported: "Tata Motors tests export markets for EVs, to roll out EV-only dealerships in India..."
On September 22 Tata Motors announced:
Tata Motors charges up Nepal with the game-changing Ace EV. The first fleet of zero-emission, e-cargo solution was delivered to customers in Kathmandu...
GreenPower Motor Company Inc. [TSXV:GPV] (GP)
On September 26 GreenPower Motor Company Inc. announced:
GreenPower highlights key findings from all-electric School Bus Pilot Program and resulting vehicle orders...
On September 28 GreenPower Motor Company Inc. announced:
GreenPower completes delivery of 10 EV Stars for Last Mile Passenger Transportation in Boston Market...
Workhorse Group Inc. (WKHS)
On September 7 Workhorse Group Inc. announced:
Workhorse begins production of W56 Chassis...The W56 provides a unique blend of high reliability, quality, and serviceability. The zero emission delivery work van is designed to meet the challenging demands of the commercial vehicle industry...Workhorse expects to begin production of full W56 step vans later in September and to have production quality demo units delivered to major fleets early in the fourth quarter.
On September 12 Workhorse Group Inc. announced:
Workhorse receives IRS Approval for Commercial Clean Vehicle Credit... With this approval, Workhorse customers are eligible to receive up to a $40,000 credit for deliveries of all Workhorse vehicles in 2023 and beyond...
Lion Electric (LEV)
No news for the month.
Honda [TYO:7267] (HMC) (OTCPK:HNDAF) AFEELA (Sony Honda Mobility JV)
On September 7 Honda announced:
Honda to adopt North American Charging Standard (NACS) for its EV Models in North America. Honda Motor Co., Ltd. today announced that it has reached an agreement with Tesla, Inc. to adopt Tesla’s North American Charging Standard (NACS) for the charging port of its EV models that will go on sale in North America starting from 2025...
On September 12 Honda announced:
BMW, Ford and Honda agree to create ChargeScape, a New Company focused on optimizing Electric Vehicle Grid Services.
On September 22 Electrek reported:
Honda JV becomes the first foreign partnership to launch a new EV brand in China...new electric vehicle brand, “Lingxi,” this week...
On September 29 Honda announced:
Stylish, sporty, spacious and all-electric: Honda Prologue SUV available early next year with anticipated EPA range rating of 300 miles.
Mazda (OTCPK:MZDAY)
No electric vehicle related news for the month.
Other EV companies we are following include Arrival (ARVL), Atlis Motors, Ayro Inc. (AYRO), Blue Bird Corporation (BLBD), Blink Charging (BLNK), Byton (private), Canoo Holdings (GOEV), Chery Automobile Co. Ltd. (private), Chongqing Changan Automobile [SHE:000625], Didi Chuxing, Electric Last Mile Solutions Inc. ("ELMS") (OTC:ELMSQ), Envirotech Vehicles (EVTV), Ferrari NV (RACE), Guangzhou Automobile Group Co., Hyliion Holdings (HYLN), Ideanomics Inc. (IDEX), Mahindra & Mahindra (OTC:MAHMF), Nikola Corporation (NKLA), Niu Technologies (NIU), Proterra (PTRA), Qiantu Motor, Sono Group N.V (SEV), Subaru (OTCPK:FUJHY), Suzuki Motor Corp. [TYO: 7269] (OTCPK:SZKMY) (OTCPK:SZKMF), VinFast (NASDAQ:VFS), WM Motor, and Zhi Dou (private).
The list of countries and cities banning (or planning to ban) petrol and diesel vehicles include at least:
Note: Wikipedia has an excellent list showing the phase-out of fossil fuels in various cities and countries.
ICE vehicle phase out target dates
BloombergNEF
Note: Great Britain is now 100% EVs by 2035, noting they also have an 80% EVs target by 2030.
August 2023 global plugin electric car sales were 1,238,000 up 45% YoY and reached 18% global market share; 39% share in China, 30% in Europe, and 9.51% in USA.
Highlights for the month were:
As usual, all comments are welcome.
Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.