NIO - December EV Updates
Recently, South Korean automaker Hyundai announced that it will have 23 global electric vehicles under its belt by 2025. This announcement is impressive, and it echoes the same vibe as old-school US automaker General Motors’ (NYSE: GM) plan which is planning to produce 30 EVs by 2025. Even premium carmakers like BMW (OTC: BMWYY) and Daimler (OTC: DDAIF) have boarded the train, with the former pledging nine EVs by 2025 and the latter working on six electric vehicles as we speak.
But, when it comes to EVs, it’s more about ground-breaking quality of the technology than the quantity. For this reason, newbies are taking all the spotlight with the ground-breaking technologies they are bringing to the table.
Worksport
Worksport (OTC: WKSP) will be presenting at the Benzinga Global Small Cap Conference taking place on December 8 th and 9 th , 2020. This event is gathering a rapidly growing base of micro-caps, with its essence being about networking, deal-making and discovery. After a decade of positioning itself as a producer of highest quality tonneau covers for pick-up trucks with its recent launch of TerraVis solar technology that will allow current and future EV truck owners alike, to benefit from the power of renewable energy, the timing for Worksport to share its story to micro-cap investors is perfect. Additionally, Worksport has recently been granted its Regulation-A Public Offering so it’s a perfect opportunity for the public to get to know this innovative yet well-established player on the EV field.
Ideanomics is going full speed ahead into EVs
There are electric buses, trams, trains and there are e-tractors. Ideanomics’ (NASDAQ: IDEX) saw its stock skyrocket 239.5% in November and one factor that contributed to this gain is its announcement of increasing its investment in the electric-tractor company Solectrac. Moreover, the company just announced that its subsidiary, Tree Technologies Sd. Bhd., which owns the Treeletrik brand, has hired Former Director of Group Finance Controlling at Volkswagen Group (OTC: VWAGY) Malaysia, Richard Teoh, as its Chief Financial Officer effective immediately. His valuable experience and industry insights coming from the leading EV manufacturer in the ASEAS region, will be of immense value for the supply chain and battery development alike.
Avoiding Chinese stocks is mission impossible, in any EV scenario
Chinese EV stocks erased big early losses Wednesday as Li Auto (NASDAQ: LI) joined rivals Nio (NYSE: NIO) and Xpeng (NYSE: XPEV) in reporting a jump in November sales. Li Auto reported deliveries of Li One EVs rose 25.8% from October. On Tuesday, Nio revealed it delivered 109% more EVs compared to the same period last year as it is heavily focused on speeding up production capacity expansion to handle the increase in orders. Xpeng deliveries of smart electric vehicles increased 342% YoY with its smart sports sedan, the P7, leading the gains as it competes directly with Tesla’s Model 3, which is also made-in-China.
Outlook
When it comes to EVs, 2020 has already entered history as the starter pistol. Goldman Sachs Group Inc (NYSE: GS) predicted that electric vehicle penetration in China would reach 20% by 2025, up from 5% this year. This figure is expected to reach 53% in 2035 and 80% in 2050. The EV industry is poised to become one of the fastest growing segments in the world, and many companies are getting ready to capitalize on this trend. Yet, only time will tell if they will live up to the market expectations and deliver on their promise.
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