EV Firm Information For The Month Of June 2024

Welcome to the June 2024 version of Electrical Automobile [EV] firm information.

The previous month noticed Might outcomes being the equal greatest month for EV gross sales in 2024. We additionally had some massive information on EV tariffs.

Plugin electrical automotive gross sales as of finish Might 2024

International plugin electrical automotive gross sales have been 1.3 million in Might 2024, up 23% on Might 2023 gross sales. International plugin electrical automotive market share in Might was 20%, and 17% YTD.

China plugin electrical automotive gross sales have been 816,000 in Might 2024, up 33% on Might 2023 gross sales. Plugin electrical automotive market share in China for Might was 47%, and 41% YTD.

Europe plugin electrical automotive gross sales have been 226,000 in Might 2024, down 10% YoY, reaching 21% market share and 21% YTD. Norway reached 82.3% share, Sweden 53.6%, Netherlands 47%, Germany 18.5%, France 24.1%, and UK 25.7% in Might 2024.

Observe: Australia battery electrical autos (“BEV”) market share is at 8% in Might 2024.

USA plugin electrical automotive gross sales have been 124,921 (as reported by Argonne Nationwide Laboratory) in Might 2024, up 3.2% on Might 2023 gross sales. Plugin electrical automotive market share within the USA for Might was 8.74%.

Observe: Globally, 100% battery electrical automobiles represented ~64% YTD (as of finish Might 2024) market share YTD of all plugin electrical automobiles offered. The above gross sales embody gentle industrial autos.

Observe: An acknowledgement to Jose Pontes and the group at CleanTechnica Gross sales for his or her work compiling all the electrical automotive gross sales quoted above and the charts under. Additionally, the group at EV-Volumes for his or her nice work.

Prime-selling international plugin gross sales by auto group, YTD to finish Might 2024 (supply)

International EV gross sales forecasts within the years forward

International electrical automotive gross sales reached 13.7m in 2023 and 16% market share (supply)

Bloomberg forecasts 16.7m plugin electrical automotive gross sales in 2024 (~20% market share) with a 22% YoY development charge (as of April 2024) (supply)

IEA International EV Outlook 2024 (as of April 2024) – Forecasts gross sales will attain 17m and 20% share in 2024 (supply)

Observe: On web page 106 the IEA state: “International electrical light-duty automobile gross sales are set to succeed in 40% in 2030 and nearly 55% in 2035 primarily based on present coverage settings.”

Searching for Alpha’s Pattern Investing international electrical plugin automotive gross sales forecast (as of Might 2024)

	Gross sales (million)	Market share
2024	17.1	~20%
2025	21.3	25%
2030	47	55%
2035	72	84%

Click on to enlarge

Pattern Investing remark

We’re nonetheless solely on the extraordinarily early stage of the EV growth – We now have nonetheless solely electrified about 4% of the worldwide fleet of 1.475 billion, with a staggering ~96% nonetheless to go.

Pattern Investing’s international plugin electrical automotive gross sales forecast to 2040 (inexperienced bars)

Electrical autos’ share of worldwide automotive gross sales forecast (as of Sept. 2023) (supply)

EV market information

On June 7, Bloomberg reported:

Lengthy-range EVs now value lower than the typical new automotive within the US…Not less than three producers – Tesla, Hyundai-Kia and Common Motors – now supply EVs with greater than 300 miles (480 kilometers) of vary for lower than the price of the typical new automobile offered within the US, in line with an evaluation by Bloomberg Inexperienced…

EVs move a key measure of ‘Value Parity’ in US (supply)

On June 12, Bloomberg reported:

EU to slap tariffs of as much as 48% on EV imports from China…SAIC’s tariffs are set to extend by 38.1% on prime of the present obligation of 10%. BYD must pay an extra 17.4% levy, and Geely – which owns Volvo Automotive AB – faces an additional 20% cost.

On June 18, InsideEVs reported:

EV gross sales plateau in Europe and North America, however China expands. The U.S. and Europe are making use of tariffs to defend their markets, which could have an effect on short-term development. However China is full pace forward.

On June 21, Searching for Alpha reported: “Canada mentioned to be eyeing tariffs on Chinese language EVs, following lead of U.S. and EU.”

On June 24, Searching for Alpha reported:

China, EU agree to carry talks on EV tariffs to keep away from commerce conflict…Beijing desires the EU to scrap its tariff choice earlier than July 4. “The EU’s more and more protectionist strikes will certainly set off countermeasures from the Chinese language facet, and an escalation in commerce frictions will lead solely to lose-lose outcomes,” they added.

On June 25, CNEVPOST reported:

CATL expects its batteries to energy electrical plane with as much as 3,000 km vary. CATL has efficiently check flown a 4-ton civil electrical plane and expects to launch an 8-ton electrical plane in 2027-2028…Up to date Amperex Know-how Co Ltd (CATL, SHE: 300750) has made progress in its electrical manned plane partnership challenge, which is anticipated to help a variety of about 2,000 to three,000 kilometers by 2027-2028, the battery maker’s chairman Robin Zeng mentioned.

On June 26, The Verge reported:

Waymo ditches the waitlist and opens up its robotaxis to everybody in San Francisco…Opening up the service to extra individuals who wish to pay cash to trip in its driverless autos is an important step towards the normalization of autonomous autos. And it is vital for Waymo – and its father or mother firm Alphabet (GOOG) – to show a traditionally money-losing operation into one that may break even or even perhaps be worthwhile.

On June 28, Teslarati reported:

Ford CEO Jim Farley calls on america to rally behind EVs…”We’re in a worldwide race to compete in a future the place electrical propulsion will undoubtedly be an enormous pressure in transportation. America can’t cede innovation management to China, Europe, or some other area,” Farley wrote.

EV firm information

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

BYD is at present ranked the #1 globally with 22.1% market share YTD (as of finish Might 2024). BYD is ranked number one in China with 31.9% market share in Might 2024.

On Might 23, BYD introduced: “BYD Brazil retains on increasing and celebrates the opening of its a hundredth dealership.”

On Might 29, BYD introduced: “BYD and YANGWANG announce thrilling debut at Goodwood Pageant of Pace 2024…going down from 11 to 14 July 2024.” (In England)

YANGWANG’s two fashions, U8 and U9 (supply)

On Might 30, BYD introduced: “BYD opens its first retailer within the Caribbean Area…positioned within the Republic of Trinidad and Tobago.”

On June 1, BYD introduced:

BYD’s EXPLORER NO.1 docks in Brazil, elevating sustainable logistics…its devoted roll-on/roll-off (ro-ro) provider, the EXPLORER NO.1, docked for the primary time within the Americas at Brazil’s Port of Suape.

On June 18, Autodrive reported:

China’s BYD to produce battery for Tesla. BYD’s FinDreams battery unit has landed a big contract to produce over 20% of the battery vitality storage methods (BESS) for Tesla’s manufacturing capability in China. Tesla’s BESS manufacturing in China will make the most of lithium iron phosphate (LFP) lithium-ion battery cells from each CATL and BYD, with the remaining 80% anticipated to come back from CATL.

On June 21, Bloomberg reported:

BYD Mexico plant will create 10,000 jobs, government says. Chinese language EV large is in last talks for Mexico manufacturing facility. In Might it held the worldwide launch of the Shark truck in Mexico…BYD had acquired proposals from some 23 Mexican states for its plant, Vallejo mentioned, and has narrowed it down to a few.

On June 24, CnEVPost reported:

Europe’s EV tariffs seen as minor pace bump for BYD. BYD acquired the lightest penalty in Europe’s new set of auto tariffs, to the reduction of traders, however the sector is already seeking to Southeast Asia as a development driver.

On June 25, Reuters reported:

China’s BYD launches third EV mannequin in Japan. The Shenzhen-based automaker mentioned it had began taking orders for its flagship Seal EV in Japan from Tuesday, setting the urged retail pricing for the rear-wheel-drive model of the automobile within the nation at 5.28 million yen ($33,111.75)…

On June 28, CNEVPOST reported:

BYD Uzbekistan plant sees 1st mass-produced automobiles roll off line. The primary section of BYD’s Uzbekistan plant will produce the plug-in hybrid fashions Music Plus DM-i and Chazor DM-i, with an estimated annual capability of fifty,000 models.

On July 2, Moomoo reported:

BYD Q2 electrical automotive gross sales hit a document excessive…Particular knowledge reveals that BYD offered 982,747 autos from April to June, together with 426,000 pure electrical autos.

On July 2, Searching for Alpha reported: “China’s BYD companions with French leasing agency to bolster European gross sales.”

Tesla, Inc. (NASDAQ:TSLA)

Tesla is at present ranked the quantity 2 globally with 11% international market YTD. Tesla is quantity 4 in China with 6.6% market share in Might 2024. Tesla is ranked quantity 5 in Europe with ~10.8% market share (not up to date this month) in Might 2024. Tesla is the #1 electrical automotive vendor within the U.S.

On June 13, Tesla had their ‘2024 Annual Stockholder Assembly‘. You may view the official video right here with Elon Musk speaking from the 45-minute mark. Key highlights have been that Musk mentioned that the robotaxi enterprise potential market cap for Tesla is US$5-7T and the Optimus humanoid robotic enterprise potential is US$25T. Additionally that Tesla Semi ‘quantity manufacturing’ has been authorized.

• Forbes: Elon Musk Says Tesla’s Optimus Robotic May Drive Firm To $25 Trillion Valuation – Here is What Specialists Assume

On June 14, Searching for Alpha reported: “Cathie Wooden places a $2,600 name on Tesla for 2029.”

On June 14, Searching for Alpha reported:

77% of Tesla shareholders vote in favor of $56B pay package deal…As for the opposite proposals, most have been authorized together with Proposal 3 to re-domesticate Tesla to Texas from Delaware…

On June 16, Searching for Alpha reported:

Tesla full-self driving check might have began in China – report…The most recent information comes after experiences late final month that Tesla was near registering its Full Self-Driving software program with authorities in China. FSD gross sales in China would open an important income for Tesla…

On June 17, Teslarati reported: “Elon Musk says he is engaged on Tesla Grasp Plan half 4.”

Observe: Learn additionally “Elon Musk says Tesla Grasp Plan 4 will likely be epic.“

On June 25, Searching for Alpha reported:

Tesla remembers hundreds of Cybertrucks over questions of safety…Tesla (Tesla) is recalling 11,688 Cybertruck electrical pickup vehicles as a consequence of a windshield wiper failure…the entrance windshield wiper motor controller might cease functioning as a consequence of electrical overstress to the gate driver element, lowering visibility in sure working situations.

On June 26, Searching for Alpha reported:

Tesla attracts a brand new bull as Stifel factors to multi-year development potential. Stifel launched protection on Tesla (NASDAQ:TSLA) for the primary time, with a Purchase score and worth goal of $265…Gengaro additionally thinks Tesla’s (TSLA) full-self driving initiative can convey worth by way of gross sales, licensing, and the potential RoboTaxi alternatives.

On July 2, Searching for Alpha reported:

Tesla rallies after its Q2 deliveries tally tops the beaten-down expectations. Tesla (NASDAQ:TSLA) reported 443,956 deliveries for Q2 to beat the consensus estimate for a tally of 439,302 autos.

Geely Vehicle Holdings Ltd. (OTCPK:GELYY, HK:0175), Volvo Vehicles, Kandi Applied sciences Group (NASDAQ:KNDI), Proton, Lotus, Zeekr, Lynk. (Observe: Volvo Group is a separate firm that makes e-trucks & e-buses)

Geely-Volvo is at present ranked quantity 3 within the international electrical automotive producer’s gross sales rating with 7.9% international market share YTD. Geely-Volvo is the quantity 2 ranked in China with 8.3% market share in Might 2024. Geely-Volvo is 4th ranked in Europe with 10.7% market share in Might 2024.

On June 4, Kandi Applied sciences Group introduced: “Kandi debuts enhanced 10K Excessive-Clearance Electrical UTV…”

On June 5, Volvo Vehicles introduced:

Volvo Vehicles’ international gross sales up 13 per cent in Might…The gross sales improve was primarily pushed by a robust efficiency in Europe in addition to the corporate’s totally electrical small SUV, the EX30. The corporate’s gross sales of electrified fashions, totally electrical and plug-in hybrid fashions, grew 37 per cent in comparison with the identical interval final yr and accounted for 48 per cent of all automobiles offered throughout Might. The share of totally electrical automobiles constituted 25 per cent of all automobiles offered for the month.

On June 9, Bloomberg reported: “Volvo is shifting EV manufacturing to Belgium from China.” Highlights embody:

• “The transfer comes as EU prepares to impose tariffs on Chinese language EVs.
• Manufacturing of some automobiles certain for the UK can also be moved.”

On June 12, Bloomberg reported:

Geely’s Proton unveils Malaysia’s first native electrical automotive…Proton introduced its EV model, e.MAS, on Wednesday in Kuala Lumpur, with the primary automobiles anticipated to roll off the manufacturing line by the tip of 2025. The autos will likely be made at Proton’s current manufacturing facility in Perak, north of the capital, which itself is reworking into an EV hub with a $10 billion funding from Geely.

On June 12, Kandi Applied sciences Group introduced:

Kandi Applied sciences Group unveils new lineup of electrical Go-Karts within the US. Kandi Applied sciences Group, Inc. (NASDAQ GS: KNDI) (“Kandi” or the “Firm”), a number one producer of all-electric private transportation and utility autos, immediately introduced the launch of three new electrical go-karts by way of its wholly-owned subsidiary, Kandi America.

On June 20, Kandi Applied sciences Group introduced: “Kandi launches Extremely-Excessive Capability AA Battery within the U.S…”

On June 20, CnEVPost reported: “Zeekr set to ship 200,000th Zeekr 001 on Jun 21.”

On June 27, Reuters reported: “Focus: Zeekr’s gross sales soar as Chinese language dominate Russian EV market.” Highlights embody:

• “Chinese language manufacturers now make up over half of automotive gross sales in Russia.
• Zeekr dominates EV sector regardless of missing official presence.
• Lack of charging stations, plentiful oil hinder EV market development.
• Electrical automobiles nonetheless account for lower than 2% of Russian market.”

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

‘Volkswagen Group’ is at present ranked the quantity 4 top-selling international electrical automotive producer with 6.3% market share YTD, and 1st in Europe with 20.1% market share in Might 2024.

On June 7, Bloomberg reported: “Porsche’s EV targets face investor pushback over slowdown.” Highlights embody:

• “Carmaker’s rivals are strolling again EV rollouts as gross sales wane.
• CEO Blume sees new electrical Macan SUV bolstering gross sales.”

On June 28, Yahoo Information reported: “VW faucets Rivian in $5B EV deal and the combat over Fisker’s belongings.”

SAIC Motor Company Restricted [SAIC] [CH:600104] (SAIC consists of Roewe, MG, Baojun, Maxus), Wuling Vehicle JV (SAIC 51%, GM 44%, Guangxi 5.9%)

SGMW (SAIC-GM-Wuling Vehicle) is quantity 5 globally with 5.4% market share YTD. SAIC/GM/Wulin JV [SGMW] plus SAIC is third in China with 7.7% share in Might 2024.

On June 20, SAIC Motor Company introduced:

SAIC Motor maintains its industry-leading place with breaking gross sales… The New Triad of Development Drivers – comprising self-owned manufacturers, new vitality autos (NEVs), and abroad markets – continues to drive the corporate’s robust efficiency. In Might…terminal deliveries of recent vitality autos amounted to 97,000 models, a year-on-year improve of 27.4 %; and terminal deliveries to the abroad market have been 99,000 models, a year-on-year improve of 20.1 %, sustaining {industry} management.

On June 27, Reuters reported:

Carmakers SAIC and Volkswagen signal vitality expertise cooperation agreements…The businesses anticipate that quite a lot of collectively developed plug-in hybrid and pure electrical fashions will likely be launched from 2026, SAIC Volkswagen mentioned in an announcement.

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

BMW Group is at present ranked the quantity 6 international electrical automotive producer with 3.9% international market share YTD. BMW Group is ranked third in Europe with 10.9% market share in Might 2024.

On June 21, CarExpert reported:

BMW calls off $3.2 billion EV battery deal – report. BMW has reportedly cancelled a 2 billion euro (A$3.2 billion) order for battery cells for its electrical autos (EVs) with Swedish battery provider Northvolt, following delays within the latter fulfilling the carmaker’s orders.

Chongqing Changan Vehicle [SHE:000625] (“Changan”)

Changan is at present ranked the quantity 7 within the international electrical automotive producer’s gross sales with 3.9% international market share YTD. Changan is fifth in China with 6.5% share in Might 2024.

On June 7 ChinaEVs reported: “Changan and GAC signal Strategic Cooperation Framework Settlement.”

Stellantis N.V. (NYSE:STLA) (merger Fiat Chrysler Group and the Peugeot Group) Ferrari (Jeep, Chrysler, Dodge, and RAM are all owned by FCA)

Stellantis Group is at present ranked the quantity 8 within the international electrical automotive producer’s gross sales with 3.9% international market share YTD. Stellantis is ranked 2nd in Europe with 11.7% market share in Might 2024.

On June 4, Bloomberg reported: “Mercedes and Stellantis press pause on EV battery factories.” Highlights embody:

• “Carmakers reassess plans for Automotive Cells Firm enterprise.
• Crops in Germany and Italy might pivot to lower-cost batteries.”

On June 5, Bloomberg reported: “Stellantis might drop some suppliers to chop EV prices, CEO says.”

On June 13 Stellantis N.V. introduced: “Stellantis reiterates 2024 monetary steerage and H1/H2 colour. Up to date capital framework helps robust returns.”

On June 25, Bloomberg reported: “Stellantis threatens to tug out of UK over EV gross sales mandate.” Highlights embody:

• “Carmaker says present targets would pressure discounted gross sales.
• Greatest-selling van maker has turned UK website into EV-only plant.”

Hyundai-Kia Group – Hyundai (OTC:HYMTF), Kia

Hyundai-Kia Group is at present ranked quantity 9 within the international electrical automotive producer’s gross sales rating with 3.5% market share YTD.

On June 1, Hyundai introduced: “Hyundai Motor America experiences Might 2024 gross sales.” Highlights embody:

• “Complete gross sales up 12% in Might; YTD whole gross sales improve 2%.
• Greatest Might for IONIQ 5, IONIQ 6, Tucson HEV, Santa Fe HEV, Palisade and Santa Cruz…
• Might EV gross sales up 42% YOY.”

On June 11, Hyundai introduced: “Hyundai ranks highest in J.D. Energy 2024 U.S. OEM EV Cellular App Report.”

On June 18, Hyundai introduced: “Hyundai Motor Group Metaplant America broadcasts first manufacturing automobile to be 2025 Hyundai IONIQ 5.” Highlights embody:

• “Award-winning electrical SUV manufacturing begins in This autumn.”
• $7.59B Metaplant to create 8,500 direct jobs in Georgia.”

On June 24, Hyundai introduced: “Hyundai Motor’s IONIQ 5 N units benchmark for crossover EVs at Pikes Peak Worldwide Hill Climb.”

On June 25, Kia introduced: “Kia EV9 wins Midwest Automotive Media Affiliation’s [MAMA] favourite plug-in automobile award.”

On June 26, Electrek reported: “Kia to launch inexpensive EV4 electrical sedan subsequent yr with an bold manufacturing purpose.”

On June 27, Hyundai introduced: “Hyundai INSTER: New A-segment sub-compact EV delivers distinctive design with segment-leading vary and flexibility.” Highlights embody:

• “Hyundai Motor unveils all-electric INSTER, the brand new A-segment sub-compact city EV with as much as 355 km of focused driving vary in line with WLTP…
• INSTER will launch this summer season with extra mannequin to affix the household.”

Hyundai INSTER (supply)

Li Auto (LI) [HK:2015]

Li Auto is at present ranked quantity ~10 (not up to date this month) within the international electrical automotive producer’s gross sales rating, with ~2.7% market share YTD.

On June 5, Automotive Information China reported:

Li Auto lowers annual gross sales goal for the second time as Li Mega gross sales proceed to disappoint. Li Auto lowers its annual gross sales purpose for 2024 for the second time in a row, Chinese language outlet LatePost experiences. Initially, this automaker aimed to promote 800,000 models in 12 months this yr. After the unsuccessful launch of the Li Mega, the gross sales goal was lowered to 560,000 – 640,000 models. The deliberate gross sales purpose was now sliced to 480,000 automobiles in response to Li’s market efficiency and technique change. Li Mega is the corporate’s first all-electric automotive, as Li Auto has beforehand centered on EREVs solely.

Mercedes-Benz Group [GER:MBG] (OTCPK:MBGAF) (OTCPK:MBGYY) (Sensible – 50% JV between Mercedes-Benz Group & Geely) (NB: Daimler was renamed to Mercedes-Benz Group)

Mercedes-Benz Group is ranked sixth in Europe with 9.5% market share in Might 2024.

On June 4, Bloomberg reported: “Mercedes and Stellantis press pause on EV battery factories.” Highlights embody:

• “Carmakers reassess plans for Automotive Cells Firm enterprise.
• Crops in Germany and Italy might pivot to lower-cost batteries.”

On June 30, Bloomberg reported: “Mercedes to roll out new mannequin offensive after electrical missteps.” Highlights embody:

• “Carmaker to spice up spending on gasoline guzzlers as EV shift slows.”
• CEO flags potential to promote €10.5 billion Daimler Truck stake.”

GAC Group (Guangzhou Vehicle Group Co. Ltd.)

On June 24, GAC Motors introduced:

Chinese language Automotive Firm GAC arrives in Brazil…”Within the subsequent 5 years, GAC, together with its provide chain, plans to take a position $1 billion in Brazil, together with plans to ascertain factories, analysis and improvement middle and warehouses for spare elements.” mentioned Feng.

NIO Inc. (NIO)

On June 1 NIO Inc. introduced: “NIO Inc. gives Might 2024 supply replace. Firm achieved new record-high month-to-month deliveries.” Highlights embody:

• “NIO delivered 20,544 autos in Might 2024, growing by 233.8% year-over-year.
• NIO delivered 66,217 autos year-to-date in 2024, growing by 51.0% year-over-year.
• Cumulative deliveries of NIO autos reached 515,811 as of Might 31, 2024.”

On June 6 NIO Inc. introduced: “NIO Inc. experiences unaudited first quarter 2024 monetary outcomes…

Monetary Highlights for the First Quarter of 2024

• “Automobile gross sales have been RMB8,381.3 million (US$1,160.8 million)i within the first quarter of 2024, representing a lower of 9.1% from the primary quarter of 2023 and a lower of 45.7% from the fourth quarter of 2023.
• Automobile margin was 9.2% within the first quarter of 2024, in contrast with 5.1% within the first quarter of 2023 and 11.9% within the fourth quarter of 2023.
• Complete revenues have been RMB9,908.6 million (US$1,372.3 million) within the first quarter of 2024, representing a lower of seven.2% from the primary quarter of 2023 and a lower of 42.1% from the fourth quarter of 2023.
• Gross revenue was RMB487.7 million (US$67.6 million) within the first quarter of 2024, representing a rise of 200.5% from the primary quarter of 2023 and a lower of 61.9% from the fourth quarter of 2023.
• Gross margin was 4.9% within the first quarter of 2024, in contrast with 1.5% within the first quarter of 2023 and seven.5% within the fourth quarter of 2023.
• Loss from operations was RMB5,394.1 million (US$747.1 million) within the first quarter of 2024, representing a rise of 5.5% from the primary quarter of 2023 and a lower of 18.6% from the fourth quarter of 2023…
• Internet loss was RMB5,184.6 million (US$718.1 million) within the first quarter of 2024…
• Money and money equivalents, restricted money, short-term funding and long-term time deposits have been RMB45.3 billion (US$6.3 billion) as of March 31, 2024.”

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

On June 1 XPeng Inc. introduced:

XPENG broadcasts automobile supply outcomes for Might 2024. 10,146 autos delivered in Might 2024, a 35% improve year-over-year.

On June 27 XPeng Inc. introduced:

XPeng introduced seller partnership in Thailand to construct stronger community for complete model service….

Xiaomi [HK:1810] (OTCPK:XIACF)

On July 1 CNEVPost reported: “Xiaomi EV says SU7 deliveries exceeded 10,000 models in June…”

Nice Wall Motor [SHE:601633] [HK:2333] (OTCPK:GWLLF) (OTCPK:GWLLY) [ORA]

No electrical automobile information for the month.

Ford (NYSE:F)

On June 4 Ford introduced: “Mass manufacturing of recent all-electric explorer begins at Ford’s EV Meeting Plant in Cologne.” Highlights embody:

• “The all-electric Ford Explorer, the primary automobile off the manufacturing line within the new Ford Cologne Electrical Automobile Heart, is on its option to prospects throughout the area.
• A second EV, a brand new sports activities crossover, will likely be revealed shortly with manufacturing in Cologne beginning later this yr.
• Ford’s historic plant in Cologne was reworked as a part of a $2 billion funding right into a state-of-the-art Electrical Automobile Heart to make sure high-quality EV manufacturing.
• Ford’s new EV Heart is a key aspect of Ford’s Street to Higher plan focusing on carbon neutrality throughout its European manufacturing footprint of services, logistics and direct suppliers by 2035.”

On June 17 Ford introduced: “Ford F-150 Lightning SuperTruck is newest EV to tackle Pikes Peak.”

On July 3 Ford introduced:

Greatest-selling F-Sequence, vans lead in Q2; Hybrids develop 56%, EVs up 61%… Electrical automobile gross sales elevated 61 % within the second quarter with 23,957 offered and are up 72 % for the yr. With 44,180 whole EVs offered for the primary half of the yr, Ford model electrical autos path solely Tesla…Gross sales of America’s No. 1 promoting electrical truck, the F-150 Lightning, totaled 15,645 by way of June of this yr. F-150 Lightning gross sales for Q2 totaled 7,902, up 77 % from a yr in the past.

Common Motors (GM), Chevrolet

On June 11 Bloomberg reported:

GM approves $6 billion buyback on development in EV enterprise… We’re rising and enhancing the profitability of our EV enterprise and deploying our capital effectively…

On June 11 CNBC reported:

GM trims 2024 EV forecast amid slower-than-expected demand…the corporate now expects manufacturing of 200,000 to 250,000 EVs this yr, down from a beforehand introduced vary of 200,000 to 300,000. The Detroit automaker is in the midst of launching its latest EVs, together with its new entry-level Chevrolet Equinox EV.

On June 12 Reuters reported: “GM cuts EV manufacturing forecast, approves $6 billion share buyback…”

On June 13 CarExpert reported:

GM cuts EV targets, throws more cash at embattled robotaxi enterprise. Cooling EV demand has led Common Motors to readjust its manufacturing plans because it struggles to catch as much as Tesla, and it is also investing extra in robotaxis.

On June 25 Common Motors introduced: “GM protection gives battery electrical expertise for future army platforms.”

On June 27 GM Authority reported: “Chevy Bolt EV, Bolt EUV recalled once more for incorrectly put in battery fireplace detection software program…”

On June 30 GM Authority reported: “2024 Chevy Blazer EV recalled for danger of proper entrance decrease management hyperlink fracture.”

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

On June 11 Nissan Motor Company introduced:

2025 Nissan LEAF on-sale now beginning at $28,140…Nissan LEAF presents two battery choices so prospects can choose the driving vary and configuration that most accurately fits their wants. LEAF S comes with a 40-kWh lithium-ion battery with an EPA-estimated vary of as much as 149 miles, whereas SV PLUS has a 60-kWh battery and as much as 212 miles of vary…

On June 13 Mitsubishi Company introduced: “Honda and MC to ascertain new firm, ALTNA Co., Ltd…

• Optimization of the EV utilization value.
• Enhancement of the lifetime worth of batteries, which include varied restricted assets, and enchancment of useful resource circulation inside Japan.
• Lodging of the growing demand for adjustment capacities by way of grid storage batteries towards a rise within the proportion of renewable vitality within the vitality combine in Japan.”

On June 25 Reuters reported:

Nissan to start out producing EVs for Dongfeng Motor by year-end, Nikkei experiences…Nissan Motor will produce electrical autos for its Chinese language joint-venture accomplice Dongfeng Motor at its Wuhan manufacturing facility by year-end, the Nikkei newspaper reported on Tuesday, an indication of strain on the automaker’s China enterprise. By producing EVs for Dongfeng, Nissan goals to cut back mounted prices and improve the working charge of the manufacturing facility, which has been declining due to slumping gross sales, Nikkei mentioned.

On June 28 Reuters reported:

Renault-backed BeyonCa plans to construct Hong Kong’s first EVs. Premium EV maker BeyonCa, backed by Renault and Dongfeng Motor, mentioned on Friday it plans to arrange a last meeting plant and its worldwide headquarters in Hong Kong, creating the territory’s first automotive model…Soh mentioned the corporate aimed to promote 100,000 EVs yearly with three to 5 fashions accessible by “a number of years after 2025″…

Hozon New Power Vehicle Co. (personal) (owns Neta)

On June 27 Caixin International reported:

EV-Maker Hozon plans Hong Kong IPO. Chinese language electric-vehicle [EV] maker Hozon New Power Vehicle Co. Ltd. has filed for an IPO in Hong Kong because it seeks new financing to help its international enlargement. The Shanghai-based carmaker plans to make use of a part of the proceeds to develop into abroad markets to reinforce the worldwide presence of its EV model Neta Auto, in line with a submitting with the Hong Kong Inventory Alternate on Wednesday.

Rivian Automotive (RIVN)

On June 25, Rivian Automotive introduced:

Rivian and Volkswagen Group announce plans for three way partnership to create industry-leading automobile software program expertise and for strategic funding by Volkswagen.

On June 25 Searching for Alpha reported: “Rivian soars after new three way partnership accomplice Volkswagen invests $5B.”

On June 28 Reuters reported: “Rivian says lower-cost second era EVs to assist in push for profitability.”

Lucid Group (LCID)

On June 29 Yahoo Finance reported:

Lucid Group, Inc and Gravity, Inc. attain settlement relating to trademark dispute. The settlement permits for Lucid’s use of the “Lucid Gravity” model with out impinging on Gravity’s pre-existing trademark, avoiding a dispute between the 2 corporations.

Beijing Automotive Group Co. (BAIC)(consists of Arcfox) [HK:1958) (OTC:BCCMY)

On June 19 CnEVPost reported: “CATL, BAIC form partnership on skateboard chassis and battery swap.”

Fisker Inc. (FSR)

On June 18 Bloomberg reported: “EV maker Fisker files for bankruptcy after its glitchy SUV flops.”

Toyota (NYSE:TM)/ Lexus

On June 28 CnEVPost reported: “Toyota seeks to build EV plant in Shanghai, hoping for Tesla-like treatment…to produce Lexus’ EVs, according to Bloomberg.”

On June 28, Reuters reported: “Toyota to launch first EV with advanced self-driving system for China in 2025…”

Honda [TYO:7267] (HMC) (OTCPK:HNDAF) AFEELA (Sony Honda Mobility JV)

On June 6 Honda introduced: “Honda advances hydrogen technique with manufacturing launch of gas cell electrical automobile in Ohio…”

On June 13 Honda introduced:

Honda and MC to ascertain new firm, ALTNA Co., Ltd. Honda Motor Co., Ltd. (Honda) and Mitsubishi Company [MC] immediately introduced plans to ascertain a brand new 50/50 three way partnership (JV) firm, ALTNA Co., Ltd. (ALTNA), in July 2024. The brand new JV is predicated on the memorandum of understanding (MoU) the 2 corporations signed in October 2023 to start discussions towards the creation of recent companies in gentle of anticipated development within the electrical automobile [EV] market towards a decarbonized future society.

On June 13 Honda introduced:

Honda to start gross sales of recent N-VAN e: Industrial-use Mini-EV in Japan. Beginning full-fledged EV gross sales in Japan with standard commercial-use gentle van mannequin.

N-VAN e: (supply)

On June 29 Yahoo Information reported:

Honda bets its electrical future on ‘skinny, gentle’ 0 Sequence EVs at CES 2024…At CES 2024, the automaker teased two idea autos, the Saloon and House-Hub, and mentioned the primary industrial mannequin in its 0 Sequence EV lineup will launch in North America in 2026.

Mazda (OTCPK:MZDAY)

No electrical automobile information for the month.

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

On June 11 Tata Motors introduced:

Magenta Mobility deepens collaboration with Tata Motors. Deploys over 100 models of Tata Ace EV – India’s most superior, zero-emission small industrial automobile.

On June 13, Tata Motors introduced: “Punch.ev is India’s first and most secure EV, receives 5-star security rankings with the very best ever scores from Bharat-NCAP.”

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

On June 5 GreenPower Motor Firm Inc. introduced:

GreenPower unveils the EV Star REEFERX a brand new fashionable, all-electric refrigerated medium-duty truck. The all-new EV Star REEFERX contains a customizable design with versatile field configurations together with multi-temperature zones and a lighter physique that permits for an elevated payload capability of as much as 5,500 lbs. for varied industries and purposes.

On June 27 GreenPower Motor Firm Inc. introduced:

GreenPower delivers first BEAST produced in West Virginia Manufacturing Facility and gives replace on order for 37 BEASTs to be delivered in 2024 to College Districts in West Virginia.

On June 28 GreenPower Motor Firm Inc. introduced: “GreenPower experiences income of $39.3 million for fiscal 2024.”

Workhorse Group Inc. (WKHS)

On June 12 Workhorse Group Inc. introduced:

Kingsburg truck gross sales bolsters Workhorse partnership as Workhorse sharpens industrial EV focus…An integral a part of the collaboration is Kingsburg’s dedication to buy 141 models of the Workhorse W4 CC Class 4 battery-electric cab chassis vehicles that are anticipated to be delivered in 2024…

On June 26 Workhorse Group Inc. introduced: “Workhorse expands licensed seller community with Eco Auto of North Boston…”

On June 27 Workhorse Group Inc. introduced: “Workhorse expands product providing with Upfit Options from Surefitters.”

Lion Electrical (LEV)

On June 13 Lion Electrical introduced: “Lion Electrical broadcasts profitable last certification of its Lionbattery HD battery pack…”

EV & battery ETF

• The Amplify Lithium & Battery Know-how ETF (BATT) is a broad primarily based EV associated fund price contemplating. On their web site they state: “BATT is a portfolio of corporations producing vital income from the event, manufacturing and use of lithium battery expertise, together with: 1) battery storage options, 2) battery metals & supplies, and three) electrical autos.

Different EV or EV associated corporations

Different EV corporations we’re following embody Atlis Motors, Ayro (AYRO), Blue Chicken Company (BLBD), Blink Charging (BLNK), Byton (personal), Canoo (GOEV), Chery Vehicle Co. Ltd. (personal), Chongqing Changan Vehicle [SHE:000625], Didi Chuxing, Dongfeng Motor Group Firm Restricted [HK:0489] (OTCPK:DNFGF), Envirotech Automobiles (EVTV), Ferrari NV (RACE), Guangzhou Vehicle Group Co., Hyliion Holdings (HYLN), Ideanomics Inc. (IDEX), Mahindra & Mahindra (OTC:MAHMF), Niu Applied sciences (NIU), 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 Zhejiang Leapmotor Know-how Co. [HKG:9863].

The listing of nations and cities banning (or planning to ban) petrol and diesel autos embody at the least:

• Norway (2025); Netherlands, Denmark, Sweden, Iceland, Greece, Eire, Israel (2030); Scotland (2032); Hong Kong (2030-40); UK, EU, Germany, 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).

Observe: Wikipedia has a wonderful listing exhibiting the section out of fossil fuels in varied cities and nations.

ICE automobile section out goal dates

Observe: Nice Britain is now 100% EVs by Authorities units out path to zero emission autos by 2035, noting additionally they have an 80% EVs goal by 2030.

Conclusion

Might 2024 international plugin electrical automotive gross sales have been 1.3 million up 23% YoY and reached 20% international market share; 47% share in China, 21% in Europe, and eight.74% in USA.

Highlights for the month have been:

• Bloomberg: EVs move a key measure of ‘Value Parity’ in US – Lengthy-range EVs now value lower than the typical new automotive within the US.
• EU to slap tariffs of as much as 48% on EV imports from China.
• EV gross sales plateau in Europe and North America, however China expands.
• Canada mentioned to be eyeing tariffs on Chinese language EVs, following lead of U.S./EU.
• China, EU agree to carry talks on EV tariffs to keep away from commerce conflict.
• CATL expects its batteries to energy electrical plane with as much as 2-3,000 km vary.
• Waymo ditches the waitlist and opens up its robotaxis to everybody in San Francisco.
• Ford CEO Jim Farley calls on america to rally behind EVs.
• BYD Brazil celebrates the opening of its a hundredth dealership. BYD opens its first retailer within the Caribbean Area. BYD to produce battery for Tesla battery vitality storage methods. BYD is in last talks for Mexico manufacturing facility. BYD Q2 electrical automotive gross sales hit a document excessive.
• 77% of Tesla shareholders vote in favor of $56B pay package deal. Cathie Wooden places a $2,600 name on Tesla for 2029. Tesla ‘2024 Annual Stockholder Assembly’ – Musk lays out his Tesla targets saying the Tesla Robotaxi enterprise market cap potential is US$5-7T and the Optimus humanoid robotic enterprise market cap potential is US$25T.
• Geely – Zeekr’s gross sales soar as Chinese language dominate Russian EV market. Chinese language manufacturers now make up over half of automotive gross sales in Russia. Geely’s Proton unveils Malaysia’s first native electrical automotive. Volvo is shifting EV manufacturing to Belgium from China.
• SAIC and Volkswagen signal vitality expertise cooperation agreements.
• Mercedes and Stellantis press pause on EV battery factories. Stellantis threatens to tug out of UK over EV gross sales mandate.
• BMW calls off $3.2 billion EV battery deal – report.
• New Hyundai Inster is a tiny electrical crossover for the lots. Kia to launch inexpensive EV4 electrical sedan subsequent yr.
• Li Auto lowers annual gross sales goal for the second time as Li Mega gross sales proceed to disappoint.
• Chinese language Automotive Firm GAC arrives in Brazil.
• NIO delivered 20,544 autos in Might 2024, growing by 233.8% year-over-year.
• Xiaomi EV says SU7 deliveries exceeded 10,000 models in June.
• Ford – Mass manufacturing of recent all-electric explorer begins at Ford’s EV Meeting Plant in Cologne. Ford EV gross sales up 61% in Q2.
• GM approves $6 billion buyback. Trims 2024 EV gross sales forecast to 200-250,000 EVs this yr.
• 2025 Nissan LEAF on-sale now beginning at $28,140.
• EV-Maker Hozon plans Hong Kong IPO.
• Rivian soars after new three way partnership accomplice Volkswagen invests $5B.
• CATL, BAIC kind partnership on skateboard chassis and battery swap.
• Fisker information for chapter.
• Toyota seeks to construct EV plant in Shanghai to supply Lexus EVs.
• GreenPower unveils the EV Star REEFERX a brand new fashionable, all-electric refrigerated medium-duty truck.

As ordinary, all feedback are welcome.

Editor’s Observe: This text discusses a number of securities that don’t commerce on a significant U.S. trade. Please concentrate on the dangers related to these shares.