ELMSQ - EV Company News For The Month Of August 2023

2023-09-11 10:56:39 ET

Summary

• Global electric car sales July 2023 up 41% YoY to a 16% share. China sales are up 31% to a 38% share. Europe sales are up 48% to a 23% share. USA sales are up 53% to a 9% share.
• EV market news - The IEA is forecasting 14m global plugin electric car sales for 2023, S&P Global Commodity Insights 13.8m, Rho Motion 13.5m to 14m, and we forecast 13.77m.
• EV company news - BYD posts H1, 2023 profit increase of 204.68%, confident of hitting 3 million sales in 2023. Musk shows off "production candidate" Tesla Cybertruck.
• Lamborghini reveals its first 100% EV. BMW first half deliveries of fully-electric vehicles up 133%. Ford lowers EV targets for 2023, points to cost. Rivian meets Q2 targets and increases 2023 production goal.

Welcome to the August 2023 edition of Electric Vehicle [EV] company news.

August saw a strong month reported for July global EV sales and a very busy month of news.

Global electric car sales as of end July 2023

Global plugin electric car sales were 1,104,000 in July 2023, up 41% on July 2022 sales. Global plugin electric car market share in July was 16%, and 15% YTD.

China plugin electric car sales were 658,000 in July 2023, up 31% on July 2022 sales. Plugin electric car market share in China for July was 38%, and 36% YTD.

Europe plugin electric car sales were 234,000 in July 2023, up 48% YoY, reaching 23% market share and 22% YTD. Norway reached 89.9% share, Sweden 59.9% , Netherlands 38% , Germany 25.9% , France 23.3% , UK 24.1% , New Zealand 27% , and Australia 7% .

USA plugin electric car sales were 119,853 (as reported by Argonne National Laboratory) in July 2023, up ~53% on July 2022 sales. Plugin electric car market share in USA for July was 9.23%.

Note: Globally 100% battery electric cars represented 70% (not updated) market share YTD of all plugin electric cars sold.

Note: The above sales include light commercial vehicles.

Note: An acknowledgement to Jose Pontes and the team at CleanTechnica Sales for their work compiling all the electric car sales quoted above and charts below. Also the team at EV-Volumes for their great work.

Top selling global plugin electric car auto groups Jan-July, 2023 ( source )

Global EV sales forecasts in the years ahead

Global electric car sales reached 10.522m in 2022 and 13% market share ( source )

Note: 73% of electric car sales in 2022 were 100% battery electric vehicles (BEVs), and 27% were being plugin hybrids.

Bloomberg breakdown of EV sales by year and region ( source ) - Forecasts 13.6m plugin electric car sales in 2023

Note: Our forecast for 2023 is 13.77m sales (17% market share).

Global plugin electric car sales forecast to grow exponentially this decade

We forecasts exponential global electric plugin car sales from now to 2040. By end 2025 sales to reach 23.8m pa (28% market share) and by end 2030 to reach 49.3m pa (58% market share).

Global plugin electric car sales forecast to 2040 (green bars)

BloombergNEF forecasts (as of mid-2022), "plug-in electric vehicles sales rise from 6.6 million in 2021 to 20.6 million in 2025" and "by 2025, plug-in electric vehicles represent 23% of new passenger vehicles sales globally, up from just under 10% in 2021".

BloombergNEF forecasts ~40.4% global passenger EV market share in 2030 and 75.3% in 2040 (published June 2022)

EV market news

On August 15 Seeking Alpha reported :

Electric vehicle maker VinFast skyrockets in Nasdaq debut. Vietnamese electric vehicle maker VinFast (NASDAQ: VFS ) soared in early trading on Tuesday after the company closed its merger deal with special purpose acquisition Black Spade Acquisition Co in Asia's biggest M&A deal this year.

On August 16 CleanTechnica reported :

Electric vehicles make the mainstream news in Australia - 385% growth in pure EV sales!... Penetration of electric vehicles into the Australian market has hovered between 8% and 10% for the past 8 months.

On August 16 Investing News reported :

Electric vehicle market update: H1 2023 in review... The International Energy Agency is expecting new purchases to accelerate in the second half of this year, ultimately achieving a total of 14 million in sales by the end of 2023. The agency expects that around 18 percent of all cars sold worldwide in 2023 will be electric - up from just only 2.5 percent in 2019. "The increase in demand for electric vehicles is driving demand for batteries and related critical minerals," the IEA says in its Global Electric Vehicle Outlook 2023... When it comes to sales of electric vehicles in the first half of the year, there were 5.8 million sales of passenger car and light duty vehicle EVs, according to Rho Motion data... In 2023, S&P Global Commodity Insights forecasts that EV sales will reach 13.8 million, rising to over 30 million by 2030... Rho Motion also expects to see stronger sales in H2, predicting global final year sales between 13.5 and 14 million.

Note: We recently lowered its 2023 global plugin electric car sales forecast to 13.77m from 13.94m. As the second chart below shows we are still at the very early stage of the EV boom.

Global plugin electric car sales in H1, 2023 ( source)

On August 22 CNN Business reported :

A new scooter every 90 seconds. India's EV revolution has begun. At a startup factory in Hosur, a southern Indian city not far from Bangalore, the assembly line is buzzing with lightning-fast activity. Here, workers in black uniforms churn out a brand-new electric scooter every 90 seconds, while executives review the company's skyrocketing sales. "Two-wheelers are going electric crazy fast," says Tarun Mehta. Mehta is the 33-year-oldCEO of Ather Energy, an electric scooter manufacturer that has enjoyed a recent explosion of demand. Three years ago, the company sold about 200 units a month, he said. Now, it easily clears about 15,000 units monthly. "Revenues are skyrocketing," Mehta told CNN... India is racing to go green, with a goal of having electric vehicles (EVs) account for a third of all private car sales and 80% of two- and three-wheeler sales by the end of the decade.

On August 24 CNEVPOST reported :

CPCA expects China Aug NEV retail sales to rise 9.2% MoM to 700,000... In August, retail sales of NEVs in China are expected to be around 700,000 units, up 31.5 percent year-on-year and up 9.2 percent from July, the CPCA's estimates released today showed.

On August 29 Bloomberg reported :

China reaches peak gasoline in milestone for electric vehicles... Chinese oil giant Sinopec made a surprise announcement that mostly flew under the radar. It's now expecting gasoline demand in China to peak this year , two years earlier than its previous outlooks... EV adoption rates in China are now soaring, with August figures likely to show plug-in vehicles hitting 38% of new passenger-vehicle sales. That's up from just 6% in 2020 and is starting to materially dent fuel demand. Fuel demand in two and three-wheeled vehicles is already in structural decline, with BNEF estimating that 70% of total kilometers traveled by these vehicles already switched over to electric. Fuel demand for cars will be the next to turn , since well over 5% of the passenger-vehicle fleet is now either battery-electric or plug-in hybrid. The internal combustion vehicle fleet is also becoming more efficient due to rising fuel-economy targets.

BloombergNEF research shows once 5% market share is reached it took only 10 years for market share to approach 90% ( source )

On September 1 Reuters reported :

US offers $12 billion to auto makers, suppliers for advanced vehicles. The Biden administration is offering $12 billion in grants and loans for auto makers and suppliers to retrofit their plants to produce electric and other advanced vehicles...

EV company news

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

BYD is currently ranked the number 1 globally with 21.8% market share YTD (Jan-July 2023). BYD is ranked number 1 in China with 37.3% market share in July 2023.

On August 8, BYD announced : "BYD unveils the BYD TANG in Costa Rica, enhancing the local NEV lineup...

BYD TANG ( source )

On August 9, CNEVPOST reported : "BYD sees 5 millionth NEV roll off line as it takes commanding lead in China."

On August 21, BYD announced : "BYD showcases 6 full-electric vehicles at IAA." Highlights include:

• "BYD brings 6 electric vehicles to the European market in less than a year, rapidly expanding its product portfolio.
• BYD also introduces new and innovative technologies: CTB (Cell-to-Body) technology and iTAC (Intelligent Torque Adaption Control).
• IAA Munich brings the European premiere of BYD's luxury sub-brand DENZA, with the DENZA D9 on display."

BYD SEAL, sleek and sporty D-segment sedan ( source )

On August 29, CNBC reported :

Shares of BYD jump after Chinese EV maker posts 200% surge in first half profit... Net profit in the first six months rose 204.68% to 10.95 billion yuan ($1.50 billion), as compared to 3.6 billion yuan a year earlier.

On August 30 Bloomberg reported : "BYD confident of hitting 3 million sales despite China weakness."

Tesla Inc. (NASDAQ: TSLA )

Tesla is currently ranked the number 2 globally with 14.5% global market YTD (Jan-July 2023). Tesla is number 2 in China with 8.4% market share in July 2023. Tesla is ranked 3rd in Europe with 12.3% market share in July 2023. Tesla is still the number 1 electric car seller in the US by far with ~60% market share in H1, 2023.

On August 3, Reuters reported : "Tesla's China-made EV sales in July down 31% mth/mth..."

On August 17, Drive reported :

Updated Tesla Model 3 imminent, as orders open overseas - report. Tesla showrooms in China have begun taking orders for the updated Tesla Model 3, which has reportedly commenced production ahead of its unveiling in the coming weeks.

On August 20, Yahoo Finance reported : "Texas mandates new EV charging stations use the Tesla NACS plug."

On August 23, InsideEVs reported :

Elon Musk shows off "production candidate" Tesla Cybertruck, big smile. "I think this is our best product ever," Tesla's CEO said after driving the Cybertruck.

On August 25, Seeking Alpha reported : "Tesla's Supercharger business is seen growing to be a $20B revenue monster."

On August 29 Electrek reported : "Tesla battery longevity not affected by frequent Supercharging, study says."

On August 30, Drive reported :

Tesla opens 30 Superchargers to rival electric cars in Australia. Almost half of Tesla's Supercharger network in Australia can now recharge electric vehicles from rival car brands, with its pilot program now extended to nearly every mainland jurisdiction.

On September 1 InsideEVs reported : "Tesla significantly cuts Model S/Model X prices, removes standard range trim."

On September 2 Reuters reported :

Tesla releases refreshed Model 3 with longer driving range in China... The vehicle is being built at Tesla's Shanghai plant and comes with a starting price that is 12% higher than the previous, base model in China. It will also be exported to other markets in Asia, Europe and the Middle East... The higher range is the result of taking weight out and improving the car's profile so it faces less wind resistance, the person added...

The refreshed Tesla Model 3 ( source )

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

'Volkswagen Group' is currently ranked the number 3 top-selling global electric car manufacturer with 7.4% market share YTD, and 1st in Europe with 20.3% market share in July 2023.

On August 6, Automotive News announced :

Audi to begin swapping in its EVs. Audi will cull models and alter its vehicle naming system as it begins adding electric vehicles to its lineup...

On August 18, Electrek reported :

Lamborghini officially reveals the commanding Lanzador EV, its first 100% electric vehicle... The Lamborghini Lanzador EV will feature a high-power electric motor on each axle with over one megawatt of peak power, according to the automaker... The energy will be provided by a "new generation high-performance battery" with long-range capabilities.

Lamborghini Lanzador EV concept car planned for 2028 ( source )

On August 24, Reuters reported : "Volkswagen strikes direct supply deals for chips to avoid global shortage."

On August 24, Volkswagen announced :

The new all-electric ID.7 is now available to order... customers will initially be able to order the model in the Pro specification package with a range of up to 621 kilometres (WLTP) at a price of €56,995...

The new all-electric ID.7 ( source )

Geely Automobile Holdings Ltd (GELYY , HK:0175), Volvo Cars, Kandi Technologies Group (KNDI), Proton, Lotus, Zeekr, Lynk. (Note: Volvo Group is a separate company that makes e-trucks & e-buses)

Geely-Volvo is currently ranked number 4 in the global electric car manufacturer's sales ranking with 6.1% global market share YTD. Geely-Volvo is ranked 5th in Europe with 8.7% market share in July 2023.

On August 3, Volvo Cars announced :

Volvo Cars sales up 21 per cent in July... Volvo Cars' Recharge line-up of chargeable models, with a fully electric or plug-in hybrid powertrain, almost doubled compared to July last year. Recharge models accounted for 35 per cent of all Volvo cars sold globally during the month.

On August 10, Reuters reported : "China EV brand Zeekr to launch its first luxury sports car..."

On August 22, Bloomberg reported :

Geely first-half profit beats estimates as price war rages on. Automaker says it's confident about the transition to EVs. China's weak economy and rising competition creates challenges. Net income rose 1% to 1.57 billion yuan ($215 million) in the six months ended June 30... Revenue climbed 26% to 73.18 billion yuan.

On August 23, Reuters announced : "China EV maker Zeekr to start investor tour ahead of $1 bln US IPO -sources."

On August 24, Volvo Cars announced :

Coming soon: the Volvo EM90, our first ever fully electric premium MPV... The Volvo EM90 will make its global debut on 12 November 2023. Pre-order will start for customers in China on the same date.

Volvo EM90 teaser image ( source )

Wuling Automobile JV (SAIC 51%, GM 44%, Guangxi 5.9%), SAIC Motor Corporation Limited [SAIC] [CH:600104] (SAIC includes Roewe, MG, Baojun, Maxus)

SGMW (SAIC-GM-Wuling Automobile) is number 5 globally with 5.6% market share YTD. SAIC/GM/Wulin JV [SGMW] plus SAIC is 3rd in China with 7.5% share in July 2023.

On August 14, SAIC Motors announced :

SAIC Motor sells 400,000 vehicles in July... The company sold 91,000 new energy vehicles (NEVs) and 97,000 cars overseas that month, hitting the high for the year...

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 4.7% global market share YTD. Stellantis is ranked 2nd in Europe with 14.1% market share in July 2023.

On August 5, Bloomberg announced : "Stellantis plans sub-€25,000 Panda EV to take on Renault, BYD..."

On August 17, Stellantis N.V. announced :

Stellantis invests in CTR to strengthen low emissions U.S. lithium production... Sustainable lithium hydroxide supply will support Stellantis' U.S. product offensive and Dare Forward 2030 plan of having more than 25 all-new battery electric vehicle (BEV) launches and 50% BEV sales by 2030.

On August 23, Bloomberg reported : "Stellantis weighs tie-up with EV maker to expand in China, sources say." Highlights include:

• "Carmaker has explored partnership with firms such as Leapmotor.
• Firm halted China production of Jeep brand last year."

BMW (BMWYY), Mini, Rolls-Royce

BMW Group is currently ranked the number 7 global electric car manufacturer with 4.2% global market share YTD. BMW Group is ranked 4th in Europe with 9.6% market share in July 2023.

On August 3, BMW Group announced : "BMW Group upgrades FY guidance after strong first half-year." Highlights include:

• "...Deliveries of fully-electric BMW vehicles up 133%.
• Zipse: "Economic success during the transformation"."

On August 4, BMW Blog reported :

BMW making "Massive" investments in batteries, spending more on EVs... Automotive News Europe cites Walter Mertl saying BMW is "investing more than originally planned in the global ramp-up of e-mobility" and that investments in batteries are "massive." BMW has the numbers to back up this statement as expenditures related to R&D increased by almost a fifth in the second quarter of the year, reaching €1.84 billion or about $2 billion at current exchange rates.

On August 25, BMW Group announced : "BMW Group to build logistics centre for high-voltage batteries in north of Leipzig..."

On August 29, Drive reported :

New electric Mini Cooper and Countryman to be revealed this week. Mini's new-generation Cooper and Countryman will be revealed in full this week, ahead of an arrival in Australian showrooms in 2024.

On September 2 CNBC reported :

BMW unveils Vision Neue Klasse concept car as it touts the dawn of a new EV era... The first electric vehicles based on the Neue Klasse - or new class - architecture are set to enter production in 2025.

Hyundai (HYMTF), Kia (KIMTF)

Hyundai-Kia Group is currently ranked number 8 in the global electric car manufacturer's sales ranking with 4.2% market share YTD.

On August 1, Hyundai announced :

Hyundai Motor America reports record-breaking retail July 2023 sales. All-time monthly retail sales records for July led by EV Vehicles. BEV sales climb; Represent 10% of retail sales up 98%...

On August 8, Hyundai announced :

Georgia Tech and Hyundai announce multi-decade partnership. The partnership will focus on sustainable mobility, hydrogen economy, and workforce development. Hyundai is currently building a new $5.54 billion EV manufacturing plant in Georgia...

On August 8, Electrek reported :

Hyundai targets key EV market with plans for five electric models... The automaker plans to introduce five EV models by 2032 while expanding the number of charging stations to 439 by 2027.

On August 16, Hyundai announced : "Hyundai Motor India signs 'Asset Purchase Agreement' for acquisition of identified assets at GM India Talegaon Plant..."

On August 23, Hyundai announced : "Made in Europe, for Europe: All-new KONA Electric begins production in Czech Republic."

On August 25, Kia announced : "All-electric Kia EV5 eclipses compact SUV standards for design and comfort."

All-electric Kia EV5 Eclipses Compact SUV ( source )

On August 29, Electrek reported :

Kia EV5 will start much cheaper than expected, undercutting Tesla's Model Y in China... The EV5 will have a starting price of roughly $22,000 (159,800 yuan), Kia's Chinese joint venture announced Tuesday (via The Korean Car Blog ). It will be available November 17 in China.

GAC Group (Guangzhou Automobile Group Co. Ltd.)

GAC Group is currently ranked number ~9 in the global electric car manufacturer's sales ranking with ~3.5% (not updated this month) market share YTD. GAC Group is ranked 4th in China with 6.9% market share in July 2023.

On August 30, Technode reported :

Chinese automaker GAC Group plans to accelerate international expansion. On August 29, Guangzhou Automobile Group (GAC Group) announced a new goal of selling 500,000 vehicles annually in its overseas market by 2030. In the coming years, GAC will introduce its electric vehicle models to Europe, with a focus on Western European markets. In the Asia-Pacific region, the company expects to sell fuel-powered (including hybrid) and pure electric vehicles and establish production bases in Malaysia, Thailand, and Myanmar...

Mercedes-Benz Group [GER:MBG] (MBGAF) (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 ~ 2.9% (not updated this month) market share YTD.

On August 28 Mercedes-Benz announced : "Mercedes-Benz to open its first high-power charging stations worldwide this fall." Highlights include:

• "...Mercedes-Benz plans to expand its global fast charging network to over 2,000 fast charging points by the end of 2024.
• Global reach by end of decade: more than 10,000 high-power chargers in North America, Europe, China and other core markets."

On September 3 Electrek reported :

Mercedes-Benz CLA concept is the long-range entry-level EV we've been waiting for... The electric CLA will be the first to use Mercedes' next-gen Modular Architecture (MMA) platform. Mercedes expects the new EV drive system to produce over 466 miles (750 km) WLTP range... The new in-house drivetrain is derived from the ultra-efficient VISION EQXX , consisting of an 800V platform, battery with "exceptional energy density," and highly efficient electric drive unit. Two different battery chemistries will be offered. The top level features an anode design with silicon-oxide content, while the entry variant uses lithium-iron-phosphate (LFP).

Li-Auto ( LI ) [HK:2015]

Li-Auto is ranked ~7th in China with 4.4% market share in July 2023.

On August 1, Li-Auto announced :

Li Auto Inc. July 2023 delivery update... the Company delivered 34,134 vehicles in July 2023, representing an increase of 227.5% year over year.

On August 8, Li-Auto announced :

Li Auto Inc. announces unaudited second quarter 2023 financial results. Quarterly total revenues reached RMB28.65 billion (US$3.95 billion). Quarterly deliveries reached 86,533 vehicles.

Great Wall Motors [SHE:601633] [HK:2333] (GWLLF) (GWLLY) [ORA]

On August 9, Great Wall Motors announced :

Sales of GWM new energy vehicles and overseas markets hits record high... In July of this year... the sales of new energy vehicles reached 28,920 units, accounting for 26.51% of the total sales, all reaching new highs...

On August 29, Great Wall Motors announced :

GWM powers up new energy lineup at the Chengdu Auto Show. GWM made a grand statement at the Chengdu Motor Show, showcasing over 30 models from its five major brands: HAVAL, WEY, ORA, TANK, and GWM Pickup...

Ford (NYSE: F )

On August 1, Green Car Reports reported :

Ford lowers EV targets for 2023, points to cost. Ford is lowering its 2023 EV production targets, pointing to vehicle prices as a reason for the slowdown. The automaker now expects to be building 600,000 EVs a year sometime in 2024, Ford CEO Jim Farley said Monday in a discussion of the automaker's quarterly earnings report . Ford has been saying since 2021 (when it doubled EV targets ) that it would attain that rate by the end of this year...

On August 3, Yahoo Finance reported :

Ford will lose $4.5 billion on electric vehicles - Will prices drop further as a result?... Ford Motor estimates its electric vehicle (EV) division, Ford Model e, will lose $4.5 billion this year . That's $1.5 billion more than the projected $3 billion, and over twice as much as the section lost in 2022 ($2.1 billion), per Fox Business... According to the news release, Ford has increased its full-year adjusted earnings forecast to between $11-$12 billion after global demand for Ford trucks, SUVs and commercial vans drove second-quarter revenue up 12% to $45 billion and generated $1.9 billion in net income...

On August 17 Electrek reported :

Ford and SK announce new massive battery cathode factory in Quebec's battery valley. Ford and SK, a Korean battery manufacturer, have announced a plan to build a new $1.2 billion battery cathode factory in Becancour, known as Quebec's battery valley.

NIO Inc. ( NIO )

On August 1, NIO Inc. announced : NIO Inc. announces that deliveries in July 2023 reached 20,462 vehicles. Company achieved new record-high monthly deliveries." Highlights include:

• "Deliveries of ES6 exceeded 10,000 in July 2023.
• NIO delivered 20,462 vehicles in July 2023, increasing by 103.6% year-over-year.
• NIO delivered 75,023 vehicles year-to-date in 2023.
• Cumulative deliveries of NIO vehicles reached 364,579 as of July 31, 2023."

On August 29, NIO Inc. announced :

NIO Inc. reports unaudited second quarter 2023 financial results. Quarterly total revenues reached RMB8,771.7 million (US$1,209.7 million). Quarterly vehicle deliveries were 23,520 units.

On August 29, CNBC reported : "Nio reports wider second-quarter loss amid China slowdown and product line revamp." Highlights include:

• "Nio lost $835 million in the second quarter, more than twice its year-ago loss.
• Deliveries were down in the period as it transitioned to new models amid China's economic slowdown.
• But deliveries rebounded in July as new and revamped models began shipping."

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

On August 1, XPeng Inc. announced :

XPENG announces vehicle delivery results for July 2023. 1,008 vehicles delivered in July 2023. More than 3,900 G6s delivered in the first month of customer deliveries...

On August 18, XPeng Inc. announced : "XPENG reports second quarter 2023 unaudited financial results." Highlights include:

• "Cash and cash equivalents, restricted cash, short-term investments and time deposits were RMB33.74 billion (US$4.65 billion) as of June 30, 2023.
• Quarterly total revenues were RMB5.06 billion, a 25.5% increase quarter-over-quarter.
• Quarterly gross margin was negative 3.9%, a decrease of 5.6 percentage points quarter-over-quarter."

On August 28, XPeng Inc. announced : "XPENG to expand in A-class Smart EV Segment through Strategic Partnership with DiDi."

On August 28, CNBC reported :

Chinese EV startup Xpeng shares soar 13% after announcing $744 million deal with Didi... With the strategic partnership and new assets from Didi, Xpeng said it plans to develop an electric car for launch next year under a new mass market brand. Didi itself has tried to develop robotaxis and electric vehicles, amid business setbacks in the last two years.

General Motors ( GM ), Chevrolet

On August 2, General Motors announced :

EVgo and General Motors Open 1,000th DC Fast Charging Stall as Part of Metropolitan Charging Collaboration. Milestone installation marks progress in shared goal of expanding public charging access and accelerating EV adoption.

On August 8, General Motors announced :

BrightDrop EVs are headed to Mexico... The first two products coming to Mexico are BrightDrop's flagship electric vans: the BrightDrop Zevo 400 and BrightDrop Zevo 600...

On August 9, Engadget reported :

Cadillac's first Escalade EV has a 450-mile range and starts at $130,000. The lavish 2025 Cadillac Escalade IQ goes into production next summer.

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

On August 24, The Driven reported :

Renault returns to Australia EV market with all-electric Megane. French car maker Renault has announced that a fully electric version of the Megane will be available in Australia later this year, marking its return to the Australian EV market since pulling the underperforming Zoe electric car in 2020...

On August 25 InsideEVs reported :

Nissan to launch 19 new EVs by 2030, shows new Leaf to dealers. The Japanese automaker told dealers that a solid-state battery capable of fast charging to 100 miles in 15 minutes is coming.

On September 4 Bloomberg reported : "Renault to resume marketing drive for EV IPO: Munich update."

Polestar Automotive Holding UK Limited ( PSNY )

On August 25, Car Expert reported :

Polestar rejects Tesla's electric car 'price war' and discounts. Polestar isn't worried about the fact its updated 2 is now close to $10,000 more expensive than the entry-level Tesla Model 3...

Hozon New Energy Automobile Co. (private) (owns Neta)

On August 30, South China Morning Post reported : "Chinese EV start-up Hozon raises US$960 million in pre-IPO financing, looks to expand footprint at home and abroad." Highlights include:

• "Shanghai-based carmaker did not name the investors in the crossover funding round, its first capital raise since July 2022.
• Hozon, also known as Neta Auto, is also seeking to raise US$1 billion via a Hong Kong IPO, according to sources."

For further details see:

EV Company News For The Month Of August 2023