EV Company News For The Month Of January 2024

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Global electric car sales Dec. 2023 up 40%YoY to 22% share. China sales up 46% to 37% share. Europe down 29% to 28% share. USA up 42% to 9.8% share.EV market news - A record 1.2 million BEVs were sold...

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USA up 42% to 9.8% share.EV market news - A record 1.2 million BEVs were sold...</p>\n\n<a href=\"https://seekingalpha.com/article/4667917-ev-company-news-for-the-month-of-january-2024\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>EV Company News For The Month Of January 2024</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEV Company News For The Month Of January 2024\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-02-07 04:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4667917-ev-company-news-for-the-month-of-january-2024><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Global electric car sales Dec. 2023 up 40%YoY to 22% share. China sales up 46% to 37% share. Europe down 29% to 28% share. USA up 42% to 9.8% share.EV market news - A record 1.2 million BEVs were sold...</p>\n\n<a href=\"https://seekingalpha.com/article/4667917-ev-company-news-for-the-month-of-january-2024\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LCID","symbol_name":"Lucid Group Inc","start_time":0,"source_url":"https://seekingalpha.com/article/4667917-ev-company-news-for-the-month-of-january-2024","article_id":"2409236244","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1662932717/image_1662932717.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2409236244","pubTimestamp":1707250632,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Global electric car sales Dec. 2023 up 40%YoY to 22% share. China sales up 46% to 37% share. Europe down 29% to 28% share. USA up 42% to 9.8% share.EV market news - A record 1.2 million BEVs were sold in the U.S. Britain ZEV mandate thresholds rise annually to an 80% share in 2030, 100% by 2035.EV company news - Global leader BYD Company Limited sells a record 3 million plus EVs in 2023 up 61.9% YoY. Tesla to launch mass-market EV in mid to late 2025.SAIC Motor sold a total of 1.12 million NEVs in 2023. Mercedes-Benz Passenger Cars BEV sales rise 73% in 2023. Hyundai-Kia surge past Ford, GM to take second in U.S. EV sales in 2023. 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China sales up 46% to 37% share. Europe down 29% to 28% share. USA up 42% to 9.8% share.EV market news - A record 1.2 million BEVs were sold in the U.S. Britain ZEV mandate thresholds rise annually to an 80% share in 2030, 100% by 2035.EV company news - Global leader BYD Company Limited sells a record 3 million plus EVs in 2023 up 61.9% YoY. Tesla to launch mass-market EV in mid to late 2025.SAIC Motor sold a total of 1.12 million NEVs in 2023. Mercedes-Benz Passenger Cars BEV sales rise 73% in 2023. Hyundai-Kia surge past Ford, GM to take second in U.S. EV sales in 2023. Ford cuts F-150 Lightning production as 'EV demand softens' (according to Ford!).   3alexd Welcome to the January 2024 edition of Electric Vehicle [EV] company news. Global plugin electric car sales for 2023 Global plugin electric car sales grew by 35% in 2023, to reach a record ~13.7m units and 16% market share. 2023 global plugin electric car sales by month Seeking Alpha Trend Investing The \"fake news\" of no EV demand is simply wrong  Despite all the \"fake news\" about no EV demand in late 2023, CleanTechnica reported a \"record result\" for December 2023 global plugin car sales and a record year in 2023. The one weak area in December 2023 was Europe, and in particular Germany, where subsidies ended in December 2023, but still EVs achieved a 25% market share. In late 2023, we have had several reports showing EV demand is booming. Here is a small sample:   Global - Global EV sales reach a 'new record' in 2023 of 13.7m sales, 16% market share, up 35%YoY.   USA - A 'record' 1.2 million BEVs were sold in the U.S. in 2023 (total plugin EV sales were 1.4 million with 80% EVs, 20% hybrids). Q4 EV sales increased by 40% YoY. U.S. Plug-in EV sales rose to 9.8% of auto sales in December. US auto industry rose 8% in 4th Quarter, while EV industry grew 29%. US plugin EV sales in December 2023 were up 42.4% YoY.   China - 2023 and December 2023 saw 'record' EV sales results, smashing all past records. EV penetration in China for 2023 was ~38%.  South America - BEV sales shoot past all expectations in Brazil in December, rise 700%!   Australia - Plugin EV sales December 2023 were up 161% YoY.   New Zealand - New Zealand exceeds 50% Electric Vehicle penetration in December 2023! Tesla - The Tesla Model Y was the best-selling car in the world in 2023.  BYD Co - BYD crowned China’s No. 1 selling car brand for 2023 over VW. BYD concludes 2023 with record 3 million annual sales, up 61.9% YoY, leading global NEV market.  (Sources: All through the article below.) Looking at the real facts, it is very hard to see where EV demand is collapsing!!! The global sales \"growth rate\" slowed in 2023 after the 2022 surge; however, the EV growth rate still remains very strong. Consumers don't want EVs. Really??? GM says consumers don't want EVs (source) Jalopnik Yet Tesla Model Y was the best selling vehicle in the world in 2023 (source) InsideEVs Tesla's Q4, 2023 Earnings Report screenshot (source) Tesla Screenshot taken from CleanTechnica World EV sales report for December 2023 (source) CleanTechnica Global plugin electric car sales grew by 35% in 2023 (source) CleanTechnica  Global plugin electric car sales as of end December 2023   Global plugin electric car sales were a new all-time record of over 1,550,000 in December 2023, up ~40% on December 2022 sales. Global plugin electric car market share in December was 22%, and 16% YTD (for 2023). China plugin electric car sales were a record 980,000 in December 2023, up 46% on December 2022 sales. Plugin electric car market share in China for December was ~37% (not updated this month), and 37% YTD. Europe plugin electric car sales were 294,200 in December 2023, down 29% YoY (as Germany EV subsidies were dramatically ended), reaching 28% market share and 24% YTD. Norway reached 89.6% share, Sweden 63.1%, Netherlands 52%, Germany 25%, France 30%, and UK 28.4% in December 2023. Note: Australia reached 8.2% market share in Dec. 2023 (up 161% YoY). USA plugin electric car sales were  141,055  (as reported by Argonne National Laboratory) in December 2023, up 42.4% on December 2022 sales. Plugin electric car market share in USA for December was 9.84%. Argonne state: \"Over 1.4M plug-in electric vehicles (PEVs) were sold in 2023, an increase of over 50% from 2022 sales. BEVs account for 80% of the PEV sales.\" Note: Globally 100% battery electric cars represented ~69% 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 cars Jan-Dec., 2023 (source) CleanTechnica Global EV sales forecasts in the years ahead Global electric car sales reached 13.7m in 2023 and 16% market share (source)  EV-Volumes Note: 69% of electric car sales in 2023 were 100% battery electric vehicles (BEVs), and 31% were plugin hybrids. Bloomberg forecasts 16.7m plugin electric car sales in 2024 (~20% market share (as of Jan. 2024) (source) BloombergNEF Seeking Alpha's Trend Investing global electric plugin car sales forecast (as of Jan. 2024)     Sales (million) Market share    2024 17 20%   2025 21.25 25%   2030 47 55%   2035 71 84%   Click to enlarge Trend Investing comment We are still only at the extremely early stage of the EV boom - We have still only electrified about 2.8% of the global fleet of 1.475 billion with a staggering ~97.2% still to go. Trend Investing's global plugin electric car sales forecast to 2040 (green bars) (as of Jan. 2024) Seeking Alpha Trend Investing Electric vehicles’ share of global car sales forecast (as of Sept. 2023) (source) CleanTechnica EV market news On January 4, This Is Money reported: Zero Emission Vehicle mandate to force an increase in electric car sales in Britain becomes law TODAY.  ZEV Mandate demands makers up share of electric car sales to 22% in 2024. Electric vehicles currently make up around just 18% of all registrations in the UK. Mandate thresholds rise annually to an 80% share in 2030 - and 100% by 2035.  Failure to meet the ZEV mandate sales targets can result in huge fines for auto makers of £15,000 per model below the required threshold. On January 9, Bloomberg reported: Electric vehicle market looks headed for 22% growth this year. BloombergNEF sees a slowdown in 2024 giving way to acceleration the following two years, when a slew of cheaper models are slated to arrive. On January 8, CleanTechnica reported: \"New Zealand exceeds 50% electric vehicle penetration in December 2023!\" On January 8, Bloomberg reported: Tesla and BYD will stay ahead of VW for years in global EV race  Bloomberg Intelligence sees the two staying on top until 2030 BI analysts expect Tesla to retain annual sales crown over BYD....  On January 9, Cox Automotive reported: A record 1.2 million EVs were sold in the U.S. in 2023, according to estimates from Kelley Blue Book...More specifically, 1,189,051 new electric vehicles (EVs) were put into service...In 2023, the EV share of the total U.S. vehicle market was 7.6%...Q4 EV sales increased year over year by 40%...Tesla remains the undisputed champion of EV sales in the U.S., capturing 55% of the EV market in 2023. On January 16, InsideEVs reported: The U.S. is deploying 125 new EV chargers every single day. That's 900 new EV chargers each week, or more than 46,000 per year. On January 18, CleanTechnica reported: \"U.S plug-in EV sales rose to 9.8% of auto sales in December.\" On January 23, Electrek reported: Electric materials handler from Volvo CE never needs recharging... This is made possible by a permanent grid connection (read: a wired plug)... On January 24, Bloomberg reported: Apple dials back car’s self-driving features and delays launch to 2028. After board meetings, car downgraded to Level 2+ autonomy. Company pushes back launch from 2026 to 2028 at the earliest... On January 25, CleanTechnica reported: BEV sales shoot past all expectations in Brazil in December, rise 700%!.. It’s clear that Brazil’s massive BEV growth comes mainly from one source: BYD. Or, specifically, BYD’s upcoming factory in Camaçari, in the Brazilian state of Bahia, which will start production in 2025. The promise of local production paired with the arrival of the BYD Dolphin in Brazil at 149,700 Brazilian reales ($30,385 USD) seems to have worked in two different ways: for one, it forced competition to lower its prices, making the EV market more competitive overall; for another, it gave BYD local recognition, allowing it to dominate the growing market in the latter half of 2023. On January 29, CleanTechnica reported: \"US auto industry rose 8% in 4th Quarter, while EV industry grew 29%.\" On January 29, CNEVPOST reported: Baidu-backed Jiyue to unveil 2nd model Jiyue 07 at Beijing auto show...and deliveries will begin in the second half of the year... Jiyue plans to make PPA (Point to Point Autopilot) smart driving available in more than 200 cities in China in 2024, the report said. EV company news BYD Co. [SHE: 002594][HK:1211](OTCPK:BYDDY) (OTCPK:OTCPK:BYDDF)  BYD is currently ranked the number 1 globally with ~22.1% (not updated this month) market share YTD (Jan-Dec. 2023). BYD is ranked number 1 in China with 35.5% market share in Dec. 2023. On January 3, BYD Co reported: BYD concludes 2023 with record 3 million annual sales, leading global NEV market...a total of 3,024,417 vehicles sold throughout the year, a substantial 61.9% surge from the previous year. On January 13, CarScoops reported: 2025 BYD Pickup: Everything we know about China’s electrified Ford Ranger rival. BYD’s electrified new truck could be a game-changer in the heavily contested mid-size pickup truck segment...BYD claims its DM-i Electric (Dual-Motor Intelligence) hybrid technology is a world-first exclusive. While details are thin, this innovative system is said to utilize a turbocharged 1.5-litre engine and two electric motors, with a total system output of around 365 kW (490 hp). They’re also bullish about a potential combined driving range of up to 1200 km (745 miles) with a full petrol tank and battery...While unavailable at launch, a pure-electric version is under development to showcase BYD’s commitment to diverse powertrain options. On January 16, Bloomberg reported: BYD plans $14 billion investment in smarter car features. EV maker will introduce system called Navigation on Autopilot. The company didn’t specify a time frame for the investment... On January 23, Bloomberg reported: BYD crowned China’s No. 1 selling car brand for 2023 over VW. BYD Co. overtook Volkswagen AG as China’s best-selling car brand in 2023, clear evidence its all-in bet on electric vehicles is paying dividends and helping it pass some of the world’s biggest legacy names. Shenzhen-based BYD tallied 2.4 million new domestic car insurance registrations last year, data from the China Automotive Technology and Research Center show, giving it a countrywide market share of 11%, up 3.2 percentage points. On January 24, Bloomberg reported: Indonesia says BYD to invest $1.3 billion to boost output. China’s BYD Co., the world’s largest maker of electric vehicles, will invest $1.3 billion in Indonesia, including in a production facility, according to a senior government official. The manufacturing plant will have a capacity of 150,000 units...Eagle Zhao, president director PT BYD Motor Indonesia, said the company is on track to start building its manufacturing facility later this year and is also targeting a sales network of as many as 50 locations in the country by the end of 2024...The company is also looking beyond Asia, recently signing up Hungary for its first European factory, which follows its first in South America by way of Brazil. On January 29, Reuters reported: China's BYD forecasts 2023 net profit to rise as much as 86.5% y/y...BYD forecast net profit for last year between 29 billion and 31 billion yuan ($4.04-4.32 billion), an increase of 74.46-86.49% from a year earlier, it said in a Shenzhen Stock Exchange filing. That growth will come in at a much slower pace than in 2022, when BYD posted a 446% net profit surge to 16.6 billion yuan. On January 31, CNEVPOST reported: BYD launches production at its plant in Uzbekistan...which is expected to support the Chinese NEV (NEV) maker's overseas sales... BYD signed a memorandum of understanding [MOU] with Uzavtosanoat JSC (UzAuto) in February 2022, agreeing to study the feasibility of co-producing electric passenger cars and electric buses in Uzbekistan... BYD is also building NEV plants in Thailand, Brazil and Hungary. In addition to manufacturing overseas, the company is increasing exports from China. Tesla Inc. (NASDAQ:TSLA) Tesla is currently ranked the number 2 globally with ~13.3% (not updated this month) global market YTD (Jan-Dec. 2023). Tesla is number 3 in China with 7.5% market share in December 2023. Tesla is ranked 3rd in Europe with 12.1% market share in December 2023. Tesla is still the number 1 electric car seller in the US by far with 56% market share in Q4, 2023. On January 5, Electrek reported: Tesla adjusts ranges across lineup due to new EPA rule. Tesla has adjusted its EPA estimated ranges across most of its lineup due to a new EPA rule that should make estimated ranges more realistic. Earlier today, we reported on Tesla updating Model Y ranges for its 2024 model year with roughly 6% lower range across the board...Model 3 ranges also remained unchanged, like with rear-wheel drive Model Y. On January 10, Seeking Alpha reported: \"Tesla launches upgraded Model 3 in North America at unchanged prices.\" On January 23, ArenaEV reported: Tesla releases FSD Beta v12.1.2 promising a step forward in autonomy... Unquestionably, the most significant change in FSD Beta 12.1.2 is the adoption of an end-to-end neural network, a departure from the previous explicit C++ coding. This neural network, trained on a vast dataset of video clips, promises to enhance Tesla's Advanced Driver Assist System (ADAS). On January 24, Seeking Alpha reported: Tesla is expected to launch a new mass-market EV in 2025... The new electric vehicle has the code name \"Redwood\" and is expected to be manufactured as early as the middle part of 2025 based on bids sent to suppliers. The report indicates that the mass market vehicle, described as a compact crossover, could see weekly production of 10K vehicles. On January 24, Seeking Alpha reported: \"Tesla Non-GAAP EPS of $0.71 misses by $0.03, revenue of $25.17B misses by $590M.\" Note: Quoted from Tesla's Q4, 2023 Earnings Report: In 2023, we delivered over 1.2 million Model Ys, making it the best-selling vehicle, of any kind, globally. For a long time, many doubted the viability of EVs. Today, the best-selling vehicle on the planet is an EV. Tesla Model Y was the best selling vehicle globally in 2023 (source) Tesla Q4, 2023 Earnings Report On January 26, Electrek reported: The Tesla Model Y was the best-selling car in the world in 2023. It’s the first time an all-electric car topped the yearly global car sales charts. On January 29, Electrek reported: Tesla plans to spend $10 billion this year to achieve next growth phase.\" On January 30, Seeking Alpha reported: \"Tesla CEO Elon Musk's $55B pay package voided by judge.\" 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% (not updated this month) market share YTD, and 1st in Europe with 21.2% market share in Dec. 2023. On January 5, Automotive News reported: Audi looks to build off record 2023 with more EVs. Audi of America President Daniel Weissland is confident 2024 will be another strong year for the luxury brand. On January 9, Volkswagen Group announced: Around 4.87 million vehicles worldwide: Volkswagen brand increases deliveries in 2023...Volkswagen handed over about 394,000 fully electric vehicles to customers worldwide in 2023, which corresponds to an increase of 21.1 per cent compared to the previous year. On January 25, Porsche announced: Macan sets new standards: the first all-electric SUV from Porsche. Porsche is launching its second all-electric model: the new Macan with powertrains of up to 470 kW (639 PS) delivers E-Performance on any terrain and a high level of day-to-day usability. Sports-car-like performance figures are matched by high-performance fast charging at up to 270 kW... The all-electric Macan (source) Porsche On January 25, The Driven reported: Audi recalls top-of-the-range electric vehicles due to fire risk...Audi’s recall affects 222 models sold between 2022 and 2023, and involves the sealing around vehicle batteries. On January 30, Bloomberg reported: VW places battery unit IPO on backburner. Carmaker said to face doubts on making batteries competitively. IPO for PowerCo remains a tangible option, Volkswagen says... 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 ~6.8% (not updated this month) global market share YTD. Geely-Volvo is the number 4th ranked in China with 7.1% market share in Dec. 2023. On January 5, Volvo Cars announced: Volvo Cars reports new global sales record in 2023...Volvo Cars also saw a significant increase in sales for its electrified cars. Last year, Volvo Cars sold 113,419 fully electric cars, an increase of 70 per cent compared to 2022, and 152,561 plug-in hybrid cars, which was a 10 per cent increase compared to 2022. Sales of fully electric cars accounted for 16 per cent of all Volvo cars sold globally during 2023. On January 8, Reuters reported: Geely's Zeekr aims to double its EV deliveries in 2024. Zeekr is aiming to deliver 230,000 cars in 2024, double its deliveries in 2023...Zeekr started delivery of its fourth model, the Zeekr 007 sedan, in December and wants to increase sales in Europe while selling into more markets in the Middle East and Asia this year, the company said. On January 20, Car News China reported: New Zeekr 001 entry models may launch in Q1 2024 with an 800V platform. Earlier this month, the new Zeekr 001 electric hatchback entry models were declared by the Chinese Ministry of Industry and Information Technology (MIIT), available in single and dual-motor versions. The price may start from 250,000 yuan (35,000 USD) and the launch date may be in the first quarter of this year. SAIC Motor Corporation Limited [SAIC] [CH:600104] (SAIC includes Roewe, MG, Baojun, Maxus), Wuling Automobile JV (SAIC 51%, GM 44%, Guangxi 5.9%) SGMW (SAIC-GM-Wuling Automobile) is number 5 globally with 5.6% (not updated this month) market share YTD. SAIC/GM/Wulin JV [SGMW] plus SAIC is 2nd in China with 7.5% share in Dec. 2023. On January 8, GM Authority reported: \"GM’s Wuling Bingo EV Mickey Edition launches in China.\" On January 8, SAIC announced: ...SAIC Motor achieved record feats in 2023 in the areas of new energy vehicles (NEVs) and overseas sales. After surpassing the milestone of selling over 1 million NEVs in 2022, SAIC Motor sold a total of 1.12 million NEVs in 2023, a year-on-year increase of 4.6 percent and ranking second among domestic automakers... On January 23, CnEVPost reported: \"SAIC-GM-Wuling aims to sell 700,000 NEVs in 2024...\" On January 25, CnEVPost reported: SAIC-GM-Wuling launches battery pack for commercial NEVs. The battery pack, called \"Wuling Red 1\", is 148 mm thick, which SAIC-GM-Wuling said is the thinnest battery for commercial vehicles. Stellantis N.V. (NYSE:STLA) (merger Fiat Chrysler Group (FCA) and the Peugeot Group (PSA) 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 ~4.3% (not updated this month) global market share YTD. Stellantis is ranked 2nd in Europe with 13.1% market share in Dec. 2023. On January 12, Stellantis N.V. announced: \"Stellantis ventures invests in Tiamat and affordable sodium-ion battery technology.\" On January 19, Stellantis N.V. announced: Stellantis unveils BEV-native STLA large platform with 800 Km/500 mile range and the ultimate flexibility to cover a wide spectrum of vehicles... Vehicles designed on STLA Large will be produced and sold globally with eight vehicle launches across five brands planned from 2024-2026... BMW (OTCPK:BMWYY), Mini, Rolls-Royce BMW Group is currently ranked the number 7 global electric car manufacturer with ~4.1% (not updated this month) global market share YTD. BMW Group is ranked 4th in Europe with 10.4% market share in Dec. 2023. On January 8, BMW Blog reported: \"BMW electric vehicles set to lose tax credits beginning January 2024...\" On January 9, BMW Group announced: \"...BMW Group BEV sales at 15%, with growth across all sales regions worldwide.\" On January 11, Reuters reported: \"BMW retools Munich headquarters for all-electric production from 2027...\" GAC Group (Guangzhou Automobile Group Co. Ltd.) GAC Group is currently ranked number 8 in the global electric car manufacturer's sales ranking with ~3.9% (not updated this month) market share YTD. GAC Group is ranked 5th in China with 6.5% market share in Dec. 2023. On January 30, Yahoo Finance reported: GAC AION launches in Hong Kong, marking a new chapter in GAC Group's global expansion...the brand launch event in Kowloon Bay featured the introduction of new energy vehicles, including AION Y Plus, Hyper SSR, and Hyper HT, presenting a technological feast of 'Tech GAC'...the company will invest in 1000V ultra-fast charging stations to combat charging infrastructure shortages, targeting 300 public charging stations by 2028. Hyundai (OTC:HYMTF), Kia  Hyundai-Kia Group is currently ranked number 9 in the global electric car manufacturer's sales ranking with ~3.8% (not updated this month) market share YTD. On January 4, Kia announced: \"All-new Kia EV9 named “Best car to buy 2024” by the Car Connection and Green Car Reports.\" On January 9, Kia announced: Kia launches Platform Beyond Vehicle business at CES 2024 to go ‘Beyond Mobility’...Concept EV3, Concept EV4 and EV6 GT and EV9 production models showcase an ‘EV Life for Everyone’... On January 10, Electrek reported: Hyundai-Kia surge past Ford, GM to take second in US EV sales in 2023... Hyundai and Kia accounted for 8% of passenger EVs sold in the US last year, with around 117,000 handed over...\" On January 16, Hyundai announced: \"Hyundai IONIQ 6 Named a 2024 EV Pulse Editor's Choice.\" On January 17, Kia announced: \"Kia America prepping Super Bowl Campaign for all-Electric EV9 Flagship SUV...\" On January 29, CarScoops reported: Boo, It’s Casper! Hyundai’s new tiny electric crossover for Europe. Hyundai plans to introduce the Casper in Europe with an electric powertrain and an entry price below €20,000... 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% (not updated this month) market share YTD. Mercedes-Benz Group is ranked 5th in Europe with 8.4% market share in Dec. 2023. On January 11, Mercedes-Benz announced: ...Mercedes-Benz Passenger Cars (MBPC) battery electric vehicle (BEV) sales rise 73% in 2023; BEV and hybrid sales account for 19% of overall passenger car sales. On January 24, Drive reported: \"Baby Mercedes-Benz G-Class to be electric-only, due in 2026...\" Li-Auto (LI) [HK:2015]  On December 31, Li-Auto announced: Li Auto Inc. expects to launch Li MEGA on March 1, 2024. Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI; HKEX: 2015), a leader in China’s new energy vehicle market, today announced an update on the rollout plan of its high-tech flagship family MPV, Li MEGA. The Company currently expects to officially launch Li MEGA on March 1, 2024 and to commence deliveries in early March 2024. On January 1, Li-Auto announced: Li Auto Inc. December 2023 delivery update....the Company delivered 50,353 vehicles in December 2023, up 137.1% year over year... Great Wall Motors [SHE:601633] [HK:2333] (OTCPK:GWLLF) (OTCPK:GWLLY) [ORA] On January 15, Great Wall Motors announced: \"GWM makes history as the first Chinese OEM to mass-produce EV overseas...\" On January 23, Great Wall Motors announced: GWM signs the MOU of EV 3.5 policy in Thailand...becoming one of the first car brands in Thailand to receive government approval for the EV 3.5 policy... Ford (NYSE:F)  On January 20, Reuters reported: \"Ford cuts F-150 Lightning production as EV demand softens...\" NIO Inc. (NIO) On January 1, NIO Inc. announced: \"NIO Inc. provides December, fourth quarter and full year 2023 delivery update  \"NIO delivered 18,012 vehicles in December 2023, increasing by 13.9% year-over-year... NIO delivered 160,038 vehicles in 2023 in total, increasing by 30.7% year-over-year...\"  XPeng Inc. (Xiaopeng Motors) (XPEV) [HK:9868] On January 1, XPeng Inc. announced: \"XPENG announces vehicle delivery results for December and fourth quarter 2023.\" Highlights include:  \"Deliveries in December 2023 reached a new record of 20,115 units, a 78% increase year-over-year... 141,601 units delivered for the full year of 2023, a 17% increase year-over-year.\"  On January 1, XPeng Inc. announced: \"XPENG launches X9 Ultra Smart large seven-seater in China.\" Highlights include:  \"Unveiling new flagship MPV built on XPENG’s SEPA2.0 architecture. Redefining smart driving, interior space, maneuverability and safety for large 7-seater Smart EV. Fusing tech-powered comfort, agile handling and versatile space. Priced in the range of RMB 359,800 - 419,800 (China only) with immediate deliveries.\"  XPENG X9 Large 7-Seater MPV (source) XPeng Inc. General Motors (GM), Chevrolet On January 30, GM Authority reported: \"GM plans to build 200,000 to 300,000 ultium-based EVs in North America this year...\" On January 31, Yahoo Finance reported: General Motors eyes strong 2024 as earnings top estimates. The company expects 2024 capital spending of $10.5-$11.5 billion, which is somewhat lower than earlier estimates as it slows some electric vehicle projects and pivots its Cruise autonomous vehicle venture to address safety concerns. On EVs, Barra noted that GM would boost production of autos such as the Cadillac Lyriq and would introduce new models to showrooms in 2024, including the Chevrolet Equinox EV... On January 31, Reuters reported: GM shares jump as CEO Barra promises shareholders more cash.... GM expects overall EV sales will rise this year to 10% of the U.S. market from 7% in 2023... Renault [FR:RNO] (OTC:RNSDF)/ Nissan (OTCPK:NSANY)/ Mitsubishi (OTCPK:MMTOF) On January 18, Nissan announced: \"Nissan unveils the new Ariya NISMO at Tokyo Auto Salon 2024.\" Nissan Ariya NISMO flagship EV (source) Nissan On January 29, Renault reported: \"Renault Group decides to cancel Ampere’s IPO and confirms its EV and software strategy...\" On January 30, Nikkei Asia reported: Nissan to produce cheaper EV batteries for emerging markets...The Japanese automaker plans to produce lithium iron phosphate (LFP) batteries, which are about 20% to 30% cheaper to make than conventional lithium-ion batteries containing nickel, cobalt and manganese (NCM)... The company is considering making the battery in-house at its Yokohama plant and other facilities. The LFP batteries are expected to be used in EVs in 2026 or later. In addition to collaborating with multiple battery makers, Nissan is exploring the potential for procurement from outside the group. Polestar Automotive Holding UK Limited (PSNY) On January 11, Polestar announced: Polestar announces global volumes for the fourth quarter, including a strong start to Polestar 4 deliveries...Polestar delivered approximately 12,800 cars in the fourth quarter, including 880 Polestar 4 in China, taking its global deliveries for the year to approximately 54,600 cars, a growth of 6% compared to 2022... On January 26, CNBC reported: \"Electric vehicle maker Polestar to cut around 450 jobs globally...\" Hozon New Energy Automobile Co. (private) (owns Neta) On January 5, Yahoo Finance reported: Chinese EV maker Hozon predicts fivefold jump in overseas sales as growth slows in hyper-competitive domestic market. Chinese electric vehicle [EV] start-up Hozon New Energy Automobile expects its sales outside mainland China to jump five-fold in 2024 as the country's increasingly confident carmakers look to international sales to counter slowing growth at home. The Shanghai-based maker of Neta-branded cars, aims to deliver a total 100,000 units in 60 overseas markets this year, mainly in Southeast Asia, as it starts operations of assembly plants in Thailand and Indonesia, according to vice-president Zhou Jiang. At that level, overseas sales would account for a third of Hozon's total deliveries in 2024, which are likely to hit 300,000 units, he said. Rivian Automotive (RIVN) On January 3, Reuters reported: EV maker Rivian's quarterly deliveries miss expectations, shares tank. Rivian Automotive missed market estimates for fourth-quarter deliveries as tough competition and high interest rates weighed on demand for its electric vehicles, sending the company's shares down nearly 10% on Tuesday. The company handed over 13,972 vehicles in the last three months of 2023, 10% lower than the previous quarter, and below estimates of 14,430, per 13 analysts polled by Visible Alpha. Lucid Group (LCID)  On January 11, Lucid Group announced: Lucid announces Q4 production & deliveries, sets date for fourth quarter 2023 results. Lucid Group, Inc. (NASDAQ: LCID)...Lucid produced 2,391 vehicles during Q4 and delivered 1,734 vehicles during the same period.* On a full year basis in 2023, the company produced 8,428 vehicles and delivered 6,001 vehicles. On January 13, Reuters reported: \"EV maker Lucid recalls over 2,000 luxury sedans due to faulty component...\" Beijing Automotive Group Co. (BAIC)(includes Arcfox) [HK:1958) (OTC:BCCMY) On January 25, Car News China reported: \"BAIC launched additional Arcfox Alpha S & Alpha T variants...\" On January 29, KED Global reported: Hyundai, BAIC join hands to develop China-only EV brand. South Korea’s No. 1 carmaker is seeking to regain ground in China after plunging sales in the world’s largest car market... Fisker Inc. (FSR) On January 4, Fisker Inc. announced: \"Fisker introduces new dealer partnership model in strategic transformation for company.\"  On January 23, Fisker Inc. announced: \"Fisker provides update on recent business activities.\" Highlights include:  \"The recently announced Dealership Partner model is gaining momentum; over 100 dealers in the United States, Canada, and Europe have expressed interest in becoming a Fisker Dealer partner. The company will host a dealer event at its headquarters the week of January 29. Based on a combination of direct sales and the new dealer initiative, Fisker expects to sell all its remaining 2023 vehicles before the end of the first quarter. A delivery update will be provided in February. During the first quarter 2024, Fisker expects to generate significant cash from the sale of existing 2023 production vehicles that are largely paid for... Flexibility to pursue strategic collaborations was enhanced by a recent amendment to Fisker’s 2025 senior convertible notes related to liens on certain intellectual property. Outstanding debt under the 2025 convertible notes has been significantly reduced by $185.5 million reflecting the conversion of a portion of the notes to equity. Fisker held the largest meetup in company history, with approximately 2,500 owners and prospective owners gathering in 24 US locations and at six locations in Europe.\"  On January 29, Fisker Inc. announced: \"Fisker to hold dealer open house on January 30 in Los Angeles to advance dealer partnership strategy.\"  Toyota (NYSE:TM)/ Lexus On January 9, Toyota reported: 2024 Toyota bZ4X: Engineered for electrifying exhilaration... The 2024 Toyota bZ4X will have a starting Manufacturer’s Suggested Retail Price of $43,070 on the XLE grade and $47,180 on the Limited grade, excluding Dealer Processing and Handling fee. Models are expected to start arriving at U.S. Toyota dealerships in January 2024. On January 11, Reuters reported: \"Toyota to roll out solid-state battery EVs globally in a couple of years...\" On January 23, Bloomberg reported: \"Toyota Chairman predicts battery electric cars will only reach 30% share.\" Highlights include:  \"Carmaker is betting on multiple technologies to reduce carbon. Akio Toyoda has rebuffed criticism of being late to EV shift.\"  Tata Motors (TTM) group (Jaguar, Land Rover) On January 12, Tata Motors announced: Tata Passenger Electric Mobility commences production at its state-of-the-art new facility in Sanand, Gujarat...\"...With existing capacities near saturation, this new facility will unlock an additional state-of-the-art manufacturing capacity of 300,000 units per annum which is scalable to 420,000 units per annum.\" On January 17, Tata Motors announced: Tata Passenger Electric Mobility launches its first Pure EV Punch.ev, powered by acti.ev. Available at an introductory starting price of INR 10.99 Lakh... Tata Passenger Electric Mobility Punch.ev, Powered by Acti.ev (source) Tata Motors Xiaomi [HK:1810] (OTCPK:XIACF) On January 15, Car News China reported: \"Xiaomi applied for Gigafactory and EV Hyperfactory trademarks in China...\" GreenPower Motor Company Inc. [TSXV:GPV] (GP) On January 11, GreenPower Motor Company Inc. announced: GreenPower announces delivery of 10 EV Star Cab and Chassis to global retailer in Canada... Workhorse Group Inc. (WKHS) On January 3, Workhorse Group Inc. announced: Workhorse Group receives HVIP approval from California Air Resources Board for the W56... On January 11, Workhorse Group Inc. announced: \"Workhorse Group receives second fleet order for W56 step van...\" Lion Electric (LEV) On January 10, Lion Electric announced: Lion awarded $38 million as part of the EPA’s latest round of clean school bus program funding...With this latest round of awards, the EPA has more than doubled the funding amount initially announced in April 2023, thereby allocating nearly $1 billion to 67 applicants. Based on the EPA, these awards are expected to facilitate the purchase of over 2,700 clean school buses in 280 school districts serving over 7 million students across 37 states... On January 25, Lion Electric announced: \"Lion Electric initiates deliveries of LionD, a new all-electric school bus model...\" Honda [TYO:7267] (HMC) (OTCPK:HNDAF) AFEELA (Sony Honda Mobility JV) On January 6, Drive reported: Sony and Honda join forces for new Afeela electric-car brand. The first production prototype from the joint venture between Japanese electronics giant Sony and car giant Honda has been revealed, with deliveries promised for 2026 in North America. On January 10, Honda announced: \"Honda presents world premiere of the “Honda 0 Series” represented by two new global EV concept models at CES 2024.\" Honda 0 Series concept model Saloon (source) Honda Honda 0 Series concept model Space-Hub (source) Honda On January 12, Reuters reported: \"Canada finance minister, Honda met on potential EV project...\" On January 22, Honda announced: Honda to make organizational changes (Effective April 1, 2024) to further accelerate the transformation toward electrification business... On January 25, Honda announced: \"All-electric 2024 Honda Prologue earns Class-Leading Standard Range Rating; Starts arriving at dealers this spring priced at $47,400.\" 2024 Honda Prologue Elite (source)   Honda Mazda (OTCPK:MZDAY) On January 17, Mazda announced: \"Mazda adopts North American Charging Standard (NACS) for North American BEVs...\" On January 27, Drive reported: Mazda to use artificial intelligence to accelerate electric-car development. The Japanese car maker has strengthened ties with a Cambridge-based tech company to use AI to reduce electric-vehicle development times... EV & battery ETF  The Amplify Lithium & Battery Technology ETF (BATT) is a broad based EV related fund worth considering. On their website they state: \"BATT is a portfolio of companies generating significant revenue from the development, production and use of lithium battery technology, including: 1) battery storage solutions, 2) battery metals & materials, and 3) electric vehicles. Other EV or EV related companies 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\") (ELMS), 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), 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:  Norway (2025); Netherlands, Denmark, Sweden, Iceland, Greece, Ireland, 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 City, Madrid (2025); Amsterdam, Brussels, Hainan (2030); California, New York, Quebec Province (2035); Sao Paolo, Seoul (2040).  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 as Government sets out path to zero emission vehicles by 2035, noting they also have an 80% EVs target by 2030. Conclusion Global plugin electric car sales grew by 35% in 2023, to reach a record ~13.7m and 16% market share. EV sales continue to surge and surpass records each month, while GM and Ford spread \"fake news\" saying that \"consumers don't want EV\" and \"demand softens.\" Of course we all know demand is incredibly strong for those selling compelling EVs such as Tesla, BYD and others. December 2023 global plugin electric car sales were a record 1,550,000 up ~40% YoY and reached 22% global market share; ~37% share in China (not updated in Dec.), 28% in Europe, and 9.84% in USA. Highlights for the month were:  Britain ZEV mandate thresholds rise annually to an 80% share in 2030 - and 100% by 2035. Bloomberg NEF forecasts electric vehicle market looks headed for 22% growth in 2024, slightly below the 2023 growth rate. Bloomberg predicts Tesla and BYD will stay ahead of VW for years in global EV race. A record 1.2 million EVs were sold in the U.S. in 2023. Q4 EV sales increased by 40% YoY. U.S. Plug-in EV sales rose to 9.8% of auto sales in December. The U.S is deploying 900 new EV chargers/week, or more than 46,000/year. Apple dials back car’s self-driving features and delays launch to 2028. BEV sales shoot past all expectations in Brazil in December, rise 700%! US auto industry rose 8% in 4th Quarter, while EV industry grew 29%. BYD Co sells a record 3 million plus EVs in 2023 up 61.9% YoY, leading the global NEV market. BYD plans a 2025 BYD Pickup truck (initially a hybrid EV). BYD reveals a $14 billion investment in smarter car features. BYD crowned China’s No. 1 selling car brand for 2023 over VW. BYD to build new auto manufacturing plant in Indonesia for 150,000 units pa. BYD launches production at its plant in Uzbekistan. Tesla releases FSD Beta v12.1.2 promising a step forward in autonomy. Tesla is expected to launch a new mass-market EV in 2025 (mid or H2, 2025). The Tesla Model Y was the best-selling car in the world in 2023. Porsche releases its first all-electric SUV, Macan. Geely's Zeekr aims to double its EV deliveries in 2024. New Zeekr 001 entry models may launch in Q1 2024. SAIC Motor sold a total of 1.12 million NEVs in 2023, up 4.6% YoY. Stellantis unveils BEV-native STLA large platform with 800 Km/500 mile range. MW retools Munich headquarters for all-electric production from 2027. Hyundai-Kia surge past Ford, GM to take second in US EV sales in 2023. Hyundai plans to introduce the Casper in Europe with an electric powertrain and an entry price below €20,000. Mercedes-Benz Passenger Cars BEV sales rise 73% in 2023. Li Auto delivered 50,353 vehicles in December 2023, up 137.1% YoY. Ford cuts F-150 Lightning production as EV demand softens. NIO delivered 160,038 vehicles in 2023 in total, increasing by 30.7% YoY. XPeng delivered 141,601 units delivered for the full year of 2023, a 17% YoY. GM plans to build 200-300,000 ultium-based EVs in North America in 2024. Nissan unveils the new Ariya NISMO at Tokyo Auto Salon 2024. Polestar to cut around 450 jobs globally. Fisker introduces new dealer partnership model in strategic transformation for company. Tata Passenger Electric Mobility launches its first Pure EV Punch.ev. Sony and Honda join forces for new Afeela electric-car brand. Honda to make organizational changes in April 2024 to further accelerate the transformation toward electrification business. Mazda adopts North American Charging Standard (NACS) for North American BEVs.  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. 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