TTM - EV Company News For The Month Of December 2022

Summary

• Global electric car sales Nov. 2022 were an estimated 1million+. China sales up 50% YoY to 35% share. Europe up 26% YoY to ~28% share. US ~6% share.
• EV market news - By 2029, electric vehicles could account for a third of the North American market and about 26% of vehicles produced worldwide.
• EV company news - BYD sold almost 230,000 plug-in cars in November 2022. It's the ninth consecutive monthly sales. Tesla China EV sales and exports surged in November 2022.
• Hyundai will sell only electric cars in Norway from 1 January 2023. Mercedes-Benz to double EV motor output at German plant to 1M units. GAC Aion's battery base starts construction with goal of meeting demand for 600,000 EVs pa.
• Ford F-150 Lightning named MotorTrend Truck of the Year. GM JV (General Motors & LG Energy Solution) has closed on a $2.5B federal loan to help finance 3 lithium-ion battery cell plants in USA. Lucid raises $1.515b and begins deliveries of Lucid Air Dream Edition to customers in Europe.

Welcome to the December 2022 edition of Electric Vehicle [EV] company news.

December saw November 2022 global plugin electric car sales perform very strongly again despite all the negative publicity around Tesla and China.

Global electric car sales as of end November 2022

Global plugin electric car sales finished November 2022 with an estimated 1 million+ ( not yet updated ) sales for the month, up an estimated 50% on November 2021, with market share of an estimated 16% (not updated) for November 2022, and 13% YTD (not updated).

Note: ~72% (not updated recently) of electric car sales YTD are 100% battery electric vehicles (BEVs), the balance being hybrids.

China plugin electric car sales were 625,000 sales in November 2022 (2nd best month ever), up 50% on November 2021 sales. Electric car market share in China for November was 35%, and 30% YTD.

Europe plugin electric car sales were 281,000 in November 2022, up 26% YoY, reaching ~28% market share and 22% YTD. Norway reached 89.3% share, Sweden 74.6% , Netherlands 35% , Germany 39.4% , France 24% , and UK 27.7% share in November 2022.

USA plugin electric car sales were reported by CleanTechnica stating : EVs reached 6.1% of US auto sales in Q3 2022." That's up from 5.1% in Q2 and 4.7% in Q1, 2022.

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.

Global plugin electric car sales by auto group for January-November 2022 (source: CleanTechnica)

EV sales forecast to really take off from 2022 as affordability kicks in

The chart below aligns with our research that electric car sales will really take off after 2022.

2022 - BloombergNEF forecasts for global electric car sales

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".

2022 - BloombergNEF long-term EV forecast (global EV share to exceed 70% by 2040)

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

EV market news

On December 5, Evening Standard reported :(regarding the UK car market)

Surge in EV demand helps new car market grow 23.5% in November. A jump in sales of Teslas helped EVs hit a one-third share of the total car market....

On December 7, Bloomberg reported :

Apple delays self-driving car launch. Apple has scaled back ambitious self-driving plans for its future electric vehicle and postponed the car's target launch date by about a year to 2026, according to people with knowledge of the matter.

On December 13, Reuters reported :

German car giants and Asian battery kings: a match made in Hungary.....Investment in the Hungarian auto industry is being dominated by three countries - Germany, a champion carmaker, plus China and South Korea, EV battery leaders way ahead of European rivals..... "Cathodes, anodes, separators, assembly lines, the full battery supply chain is here," said Dirk Woelfer of the German-Hungarian Chamber of Commerce in Budapest. "This is a foot in the door to Europe."

On December 14, Seeking Alpha reported :

Tesla, Rivian, FREYR and Ford seen standing out amid bumpy path for electric vehicles.......For the EV sector, Morgan Stanley estimated global EV sales of 9.7M EV units and global EV penetration of 11.8% in 2023e compared to 10.1% in 2022. For the U.S., the firm sees EV sales of 750K EV units and U.S. EV penetration of 5.0% in 2023 compared to 4.2% in 2022. Looking even further ahead, the EV forecasts for 2025-2030 were also reduced.

On December 15, Automotive News reported :

California approves $2.9B investment to double car chargers in state. The investment will result in 90,000 new EV chargers across California, more than double the 80,000 chargers already installed.....to accelerate the state's 2025 electric vehicle charging and hydrogen refueling goals.

On December 15, BNN Bloomberg reported : "Macron implores Europe to match Biden's green subsidy package."

On December 16, Reuters reported :

EVs confront the leap to the mass market.....The automobile industry is pouring more than $1 trillion into a revolutionary shift from combustion engines to electric vehicles guided by software.........European countries and California have set 2035 as the deadline for ending sales of new combustion passenger vehicles…Starting next year, a wave of new electric vehicles from pickup trucks to middle market SUVs and sedans will hit the world's major markets…Industry executives and forecasters do not agree on how rapidly electric vehicles could take over half the global vehicle market, let alone all of it… In China, the world's largest single automotive market, battery electric vehicles have captured about 21% of the market. In Europe, EVs account for about 12% of total passenger vehicle sales. But in the United States, EV market share is only about 6% ...Among the barriers to EV adoption, industry executives and analysts said, were a dearth of public fast-charging infrastructure, and the rising cost of EV batteries, driven by shortages of key materials and uncertainty over government subsidies that have buoyed EV purchases in major markets including the United States, China and Europe… By 2029, electric vehicles could account for a third of the North American market, and about 26% of vehicles produced worldwide , according to AutoForecast Solutions, a consultancy…By 2025, there could be 74 different electric vehicle models offered in North America, McCabe said.

Note: The above forecast appears to be for 100% EVs (BEVs) and not including hybrids. Trend Investing's forecast (BEVs + hybrids) is for 70% global 'plugin' EV market share by end 2029. Note China 'plugin' electric car sales are running at 29% YTD and Europe 'plugin' electric car sales are at 21% YTD.

On December 20, Bloomberg reported :

Electric Vehicle charging investment.......cumulative investment in EV charging hardware and installation will reach $62 billion at the end of this year, with $28.6 billion having been invested just in 2022, up 228% from the year before. Of the total investment in 2022, 61% is attributed to more than 600,000 public chargers built in China. Cumulative investment globally probably will pass the $100 billion mark in 2023 if China keeps up its relentless pace.

On December 21, National Post reported :

Canada moves to mandate electric vehicle sales starting in 2026..... One-fifth of all passenger cars, SUVs and trucks sold in Canada in 2026 will need to run on electricity under new regulations Environment Minister Steven Guilbeault is proposing Wednesday.......By 2030, the mandate will hit 60 per cent of all sales and by 2035, every passenger vehicle sold in Canada will need to be electric.

On January 2, Electrek reported :

This country plans to give free electric motorcycles to all current motorcycle riders......According to Museveni, the government will provide electric motorcycles as a trade-in for any Ugandans currently riding ICE-powered motorcycles. The Ugandan government won't have to fund the large program itself, as news reports quoted the president as attributing the capital to "investors".....

EV company news

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

BYD is currently ranked number 1 globally with 18.4% market share YTD (up to end Nov. 2022). BYD is ranked number 1 in China with 30.7% market share YTD.

On December 5, Reuters reported :

China's BYD to start selling EVs in Japan by early 2023......as the world's largest EV maker further steps up its plan to either sell or make its cars available across major markets.

On December 7, Bloomberg reported :

BYD considers US battery plant, refrains from selling EVs after Biden Inflation Act.....Li was speaking to Bloomberg from Chile, where BYD is in talks to enter into a mining project and applying for permits to process lithium into cathodes for batteries. BYD is also looking to invest in African lithium projects, although it recognizes the infrastructure shortfalls.

On December 8, BYD reported : "BYD leads electric vehicle deliveries in Israel in November."

On December 12, InsideEVs reported :

BYD sold almost 230,000 plug-in cars in November 2022. It's the ninth consecutive monthly sales record. BYD does not slow down. In November, the automaker set its ninth consecutive monthly global wholesale sales record (and 10th record this year, as only February was a bit slower than January).

On December 15, Seeking Alpha reported :

BYD Company set to unveil new EV brand in 2023....The new brand is anticipated to fill a "professional and personal" niche, adding to the company's efforts in appealing to upscale auto buyers via Yangwang.

On December 16, CleanTechnica reported :

BYD may lead in EV deliveries & Tesla will pass Toyota.....Most expect Warren Buffett-backed BYD to sell roughly $84 billion worth of EVs in 2023, but it's only expected to earn an operating profit of $4.8 billion, with a free cash flow of $5.1 billion. Wall Street estimates put Tesla's 2023 total sales around $120 billion, while its free cash flow is forecasted to reach $14.1 billion. BYD delivered 113,915 pure EVs in November, representing an increase of 147% year over year from its 46,137 units delivered in the same month last year. The automaker also delivered 116,027 plug-in hybrid EVs in November.

On December 29, CarNewsChina reported :

New 2023 BYD Dolphin launched on China, price starts at 16,700 USD......The 2023 BYD Dolphin is equipped with a front permanent magnet synchronous motor.......with a corresponding pure electric cruising range of 420 km and 401 km. The 0 - 100 km/h acceleration times are 10.9 seconds and 7.5 seconds, respectively. The motor is mated to a 44.9 kWh BYD LFP Blade battery pack and supports 60kW fast charging.

Tesla Inc. ( TSLA )

Tesla is currently ranked number 2 globally with 13% global market share YTD. Tesla is number 3 in China with 7.6% market share YTD. Tesla is still the number 1 electric car seller in the US by far with ~65% market share.

On December 7, Seeking Alpha reported :

Tesla enters Thailand with two models going head-to-head against Japanese rivals.....The electric vehicle giant plans to start selling its EVs in Thailand through online channels, with deliveries scheduled to begin early in 2023.

On December 9, InsideEVs reported :

China: Tesla EV sales and exports surged in November 2022. The company's wholesale shipments exceeded 100,000 for the very first time in a single month.

On December 12, Tesmanian reported : "Tesla Giga Shanghai denies rumor of Model Y production halt for last week of December."

On December 23, Teslarati reported :

Tesla Megapack battery is sold out until Q3 2024.....According to Tesla's Q3 2022 Update Letter, the company's energy storage deployments increased by 62% year-over-year in Q3 to 2.1 GWh......Tesla noted in its Q3 2022 Update Letter. "Demand for our storage products remains in excess of our ability to supply. We are in the process of ramping production at our dedicated 40 GWh Megapack factory in Lathrop, California, to address the growing demand,".......

On December 26, Teslarati reported : "Tesla takes delivery of Kuka production line robots amid Cybertruck preparations."

On December 28, Teslarati reported :

Tesla China corrects January 2023 production shutdown claims: report.....In response to the recent reports, a representative from Tesla China shared a correction to local media outlet Caijing.com . According to Tesla China, the dates outlined in the recent reports were inaccurate, as Giga Shanghai's workers would only be getting an extra day off before and after the Chinese New Year. For context, the Chinese New Year for 2023 will fall on January 22, a Sunday, so workers would typically get January 21-27 off, as per China Highlights .

On December 29, Seeking Alpha reported :

Tesla could 'extend its lead' over EV competition in 2023 - Morgan Stanley......He cited "valuation, cash flow, innovation and cost leadership" as key reasons to maintain a Buy-equivalent rating.

Investors can read our past Trend Investing article: " Tesla - A Look At The Positives And The Negatives ", where we rated the stock a buy. It was trading at USD 250 (post 5:1 stock split and 3:1 split is equivalent to USD 16.67). Investors can also read the latest Tesla Trend Investing article (discusses the potential of Tesla's humanoid robot) here .

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

'Volkswagen Group' is currently ranked number 3 top-selling global electric car manufacturer with 8% market share YTD, and 1st in Europe with 20.2% market share YTD.

On December 1, Volkswagen Group reported : "Volkswagen Group and PowerCo SE launch site search for first gigafactory in North America." Highlights include:

• "Volkswagen Group and Canadian government agree to identify suitable sites for PowerCo cell factory in Canada......
• Battery company PowerCo and materials technology group Umicore intend to extend cooperation on cathode material to Canada."

On December 2, Volkswagen Group reported :

The new ID.3 is ready and raring to go. Volkswagen will be unveiling the new ID.3 to the public this coming spring.

The new Volkswagen ID.3 comes in spring with a sharpened exterior design

On December 7, Volkswagen Group reported : "Volkswagen accelerating transformation of Wolfsburg plant." Highlights include:

• Company making an initial investment of some €460 million to convert the Wolfsburg site into a highly productive e-mobility factory.
• Preparations for ID.3. production at the main plant are in full swing.
• Going forward, a further all-electric model for the high-volume compact SUV segment is to leave the assembly line in Wolfsburg.
• The Trinity vehicle project and SSP platform remain firmly anchored in Wolfsburg."

On December 9, Volkswagen Group reported : "Volkswagen AG creates the greatest charging network in Europe with Elli." Highlights include:

• "Milestone of 400,000 charging points reached - charging in 27 countries.
• 25,000 charging stations of Vattenfall and Fastned in Germany, the Netherlands and France, among other countries."

On December 13, Volkswagen Group reported : "Volkswagen and Enel X Way launch Ewiva to build Italy's largest high-power charging network....."

On December 14, Carsales reported :

Volkswagen to sell more EVs than ICE vehicles in Australia within five years. German brand's first electric car is still up to a year away, but it says its EV tipping point will come in 2028.

On December 20, Electrek reported :

Audi is converting all factories to produce EVs as it phases out gas cars.....To better compete in the new EV era and ease the transition, Audi will convert all exiting existing production factories to build electric vehicles by 2029.

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 4 globally with 7.4% market share YTD. SAIC/GM/Wulin JV (SGMW) plus SAIC is 2nd in China with 10.8% share YTD.

On December 12, GM's SAIC-GM-Wuling (SGMW) reported :

SAIC-GM-Wuling launches Wuling Air EV in China. GM's SAIC-GM-Wuling (SGMW) joint venture today added the all-new Wuling Air EV to its electrified portfolio in China, alongside the Wuling Hong Guang MINIEV, Wuling Nano EV and Baojun KiWi EV. Four variants, including two- and four-seat versions with an electric range of 300 km under CLTC conditions, are priced between RMB 67,800 and RMB 82,800.

SAIC-GM-Wuling launches Wuling Air EV in China ( source)

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

Geely/Volvo is currently ranked number 5 in the global electric car manufacturer's sales ranking with 5.9% global market share YTD.

On December 1, Geely Automobile Holdings Ltd. reported :

Unaudited delivery volume of ZEEKR in November 2022.....delivered 11,011 units of vehicles in November 2022, up approximately 447% year on year.

On December 2, Volvo Cars reported :

Volvo Cars reports sales of 59,154 cars in November.....Overall underlying demand for the company's cars continues to remain robust, especially for its Recharge range of pure electric and plug-in hybrid cars. The company's line of Recharge models represented 42.2 per cent of the sales last month, with fully electric vehicles accounting for 19.7 per cent of total sales.

On December 12, Geely Automobile Holdings Ltd. reported :

Non-exempt connected transaction in relation to the acquisition of Xi'an Geely and proposed non-exempt continuing connected transactions. On 12 December 2022 (after trading hours), Zhejiang Jirun, an indirect 99% owned subsidiary of the Company, entered into the Acquisition Agreement with Geely Manufacturing with regard to the acquisition of the entire equity interest of Xi'an Geely, for a cash consideration of RMB382.45 million.

On December 12, Seeking Alpha reported : "Chinese EV maker Zeekr, owned by Geely, reportedly files for $1B US IPO."

On January 2, Car News China reported : "2023 Zeekr 001 with over 1,000km cruising range launched in China, price starts at 43,500 USD."

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

Stellantis Group is currently ranked number 6 in the global electric car manufacturer's sales with 4.7% global market share YTD. Stellantis is ranked 2nd in Europe with 15.2% market share YTD.

On December 2, Stellantis N.V. reported : "Stellantis and Qinomic team up to develop electric retrofitting of light commercial vehicles."

On December 19, Stellantis N.V. reported : "Electric motors production ramp up to reach more than 1 million in France by 2024." Highlights include:

• "Production of electric motors has begun in Trémery, France, at Emotors, a joint venture between Nidec Leroy-Somer Holding and Stellantis.
• State-of-the-art electric motor will equip the New DS 3 E-TENSE, the new Peugeot e-208, the Jeep® Avenger and the Opel Mokka electric in early 2023.
• Production of electric motors in France as part of the integration plan of Stellantis' electrification value chain, which includes batteries and e-transmissions."

On December 22, Stellantis N.V. reported : "Stellantis completes acquisition of aiMotive to accelerate autonomous driving journey....."

On December 23, Stellantis N.V. reported :

Stellantis plans to acquire stake in Symbio, a Faurecia Michelin hydrogen company and leader in fuel cell technologies for mobility industry.

Hyundai (HYMTF), Kia ((KIMTF))

Hyundai-Kia Group is currently ranked number 7 in the global electric car manufacturer's sales ranking with 4.7% market share YTD. Hyundai-Kia Group is ranked 3rd in Europe with 10.7% market share YTD.

On December 1, Kia reported :

Kia announces November 2022 global sales results. Year to date EV6 global sales recorded 73,167 units, more than triple the EV6 sales figure for 2021.....

On December 1, Kia reported :

Kia America posts best-ever November sales.....Sales of Kia's electrified models - which have posted double or triple-digit gains in the past five months - also contributed to the record-breaking performance with a 133-percent year-over-year increase.

On December 27, Hyundai reported :

Major milestone for Hyundai in the Norwegian market - where from 1 January 2023, the brand will sell only electric cars....."

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

BMW Group is currently ranked number 8 global electric car manufacturer with ~3.5% (not updated this month) global market share YTD. BMW Group is ranked 4th in Europe with 10.7% market share YTD.

On December 2, BMW Group reported :

BMW Group commences production of small-series hydrogen-powered model. Manufacture of small-series BMW iX5 Hydrogen at the Research and Innovation Centre's pilot plant in Munich. Test fleet will go into service worldwide from spring 2023.

On December 10, BMW Blog reported :

Envision AESC to invest $810 million in battery factory for BMW's Neue Klasse EVs. BMW announced in mid-October plans to invest $1.7 billion in its facilities in Spartanburg to prepare for the new wave of electric vehicles. $1 billion will be spent to add at least six electric vehicles to the assembly lines in South Carolina by the end of the decade. The remaining $700 million will go into a new battery assembly facility in Woodruff, SC.

On December 19, BMW Blog reported : "BMW Neue Klasse EVs to get Tesla-like short and long range versions: Report....."

On December 21, Bloomberg reported :

BMW broadens partnership with battery-maker Solid Power. BMW AG is deepening its partnership with Solid Power Inc. as it seeks to lock in an emerging battery technology that could help lower the cost of its electric vehicles. BMW will pay Solid Power $20 million through June 2024 for the proprietary technology, including its solid-state electrode design and manufacturing expertise.....

D aimler-Mercedes ( OTCPK:DDAIF , OTCPK:DDAIY) (Smart - 50% JV between Daimler & Geely) (NB: A proposal to rename Daimler to Mercedes Benz)

Daimler-Mercedes is ranked number 9 globally with ~2.9% (not updated this month) market share. Mercedes Group is ranked 5th in Europe with 9.3% market share YTD.

On December 6, Reuters reported : "Mercedes opens its first EV-only dealership in the world in Japan."

On December 7, Electrek reported : "Mercedes-Benz to double EV motor output at German plant to 1M units....."

On December 9, Bloomberg reported : "Mercedes-Benz commits to making electric vehicles in Thailand....."

On December 12, Mercedes-Benz Group reported :

Milestone for electric transformation: Mercedes-Benz Vans reorganizes production network in Europe.....Future vision for Mercedes-Benz Vans plants in Europe agreed upon. New plant dedicated to producing all-electric vans based on VAN.EA platform.

On December 14, Mercedes-Benz Group reported : "100% electric: Mercedes-Benz production setup defined for electric drive systems." Highlights include:

• "Battery network: German battery plants in Kamenz and Brühl and China's Beijing plant to start producing batteries for new EQ models from 2024. Battery production planned in Kölleda subject to support from the Thuringian state government.
• Electric drive units: Untertürkheim, Sebes (Romania) and Beijing locations to start ramping up highly efficient electric powertrains from 2024......"

On December 20, MercedesBlog reported :

Mercedes-Benz shifts to electric, plants will build electric cars components..... Mercedes-Benz is marching towards an electric future and the move they are making on converting the company's plants stands proof of it. Factories such as Kamenz and Bruhl in Germany, Jawor in Poland, or Sebes in Romania are transforming. Starting in 2024, these production centers will roll off the assembly lines different components from those they are currently working on. Mercedes is thus getting ready for an electric lineup in markets that can allow such a move. Yet to be achieved, the premium carmaker is targeting a portfolio in which every single model has an all-electric version.

GAC Group (Guangzhou Automobile Group Co. Ltd.)

GAC Group is ranked number 11 globally with ~2.7% (not updated this month) market share YTD.

On December 12, CNEVPOST reported : "GAC Aion's battery base starts construction with goal of meeting demand for 600,000 EVs per year....."

On December 26, CNEVPOST reported :

GAC Aion teases Hyper GT, 2nd model of its Hyper brand. The Hyper GT will make its debut at the Guangzhou auto show on December 30 and could be priced at around RMB 300,000 ($43,110).

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

On November 30, Bloomberg reported :

XPeng's electric vehicle sales contract again, outlook dims. Fourth-quarter deliveries could plunge 52% year-on-year. Revenue may decline as much as 44% in three months to Dec. 31.

On December 1, XPeng Inc. reported :

XPeng announces vehicle delivery results for November 2022. 5,811 vehicles delivered in November 2022. 109,465 vehicles delivered cumulatively in the first eleven months of 2022.

Great Wall Motor [HK:2333] ( GWLLF ) ( GWLLY ) [ORA]

On December 6, S&P Global Auto Tech Insight reported : "Great Wall Motor to almost double EV investments in Thailand....."

Ford ( F )

On December 1, Ford reported : Ford to increase investment at Halewood to scale up electric vehicle portfolio." Highlights include:

• "Halewood Plant's transition to electric vehicle (EV) components benefits from £150 million investment, raising total to £380 million.
• Halewood is integral to Ford's European electrification plan, centered on zero-emission car sales by 2030, followed by all vehicles including vans by 2035....."

On December 5, Electrek reported : "Ford Pro advances DHL's EV rollout with over 2,000 E-Transit electric vans....by the end of 2023."

On December 8, Which Car reported : "Ford Puma EV to debut in 2024....."

On December 13, CNN reported : "Ford F-150 Lightning named MotorTrend Truck of the Year, the second electric pickup in a row."

Li-Auto ( LI ) [HK:2015]

On December 1, Li-Auto reported :

Li Auto Inc. November 2022 delivery update. Li Auto Inc. ("Li Auto" or the "Company") (Nasdaq: LI; HKEX: 2015), a leader in China's new energy vehicle market, today announced that the Company delivered 15,034 vehicles in November 2022, achieving record-high monthly deliveries and representing a 11.5% year-over-year increase. The cumulative deliveries of Li Auto vehicles reached 236,101 as of the end of November.

On December 9, Li-Auto reported :

Li Auto Inc. announces unaudited third quarter 2022 financial results. Quarterly total revenues reached RMB9.34 billion (US$1.31 billion). Quarterly deliveries reached 26,524 vehicles

NIO Inc. ( NIO )

On December 1, NIO Inc. reported : "NIO Inc. provides November 2022 delivery update. Company achieved new record-high monthly deliveries." Highlights include:

• "NIO delivered 14,178 vehicles in November 2022, increasing by 30.3% year-over-year.
• NIO delivered 106,671 vehicles year-to-date 2022, increasing by 31.8% year-over-year.
• Cumulative deliveries of NIO vehicles reached 273,741 as of November 30, 2022."

On December 20, NIO Inc. reported : "NIO Inc. promptly responds to data leakage....."

On December 27, NIO Inc. reported :

NIO Inc. prudently adjusts fourth quarter 2022 delivery outlook.....In December 2022, the Company has been facing challenges in deliveries and productions, together with certain supply chain constraints, caused by the outbreak of the Omicron coronavirus variant in major cities in China.....The Company now expects to deliver 38,500 to 39,500 vehicles in the fourth quarter of 2022, adjusted from previously released outlook of 43,000 to 48,000 vehicles.....

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

On November 30, Nissan reported : "Nissan signs 200 billion yen green loan for zero-emission mobility investments....."

On December 1, Car Expert reported :

Renault and Airbus to work on long-range EV tech. Renault Group has signed an agreement with Airbus to research and develop new energy management systems and more energy-dense batteries.

On December 2, Renault reported : "Renault Group launches the first industrial metaverse."

On December 21, Nissan reported : "Nissan to share a part of design and development of electrified powertrains with JATCO....."

General Motors ( GM )/Chevrolet

On December 6, Reuters reported :

GM's BrightDrop signs first customer in Canada, unveils country's first large EV factory. The first electric delivery trucks rolled off production lines at BrightDrop's new factory in Canada on Monday, when the upstart unit of General Motors Co (GM.N) also announced DHL Express Canada (DPWGn.DE) as its first customer outside the United States.

On December 12, AP News reported :

GM joint venture gets $2.5B loan to build battery plants. A joint venture between General Motors and South Korean battery company LG Energy Solution has closed on a $2.5 billion federal loan to help finance three lithium-ion battery cell plants in Ohio, Tennessee, and Michigan. The Department of Energy awarded the loan to the venture, called Ultium Cells....The loan was first announced in July .

On December 14, Bloomberg reported :

GM will go to unusual lengths to secure EV battery minerals. GM will go all the way down to mine site procurement. Traditionally, automakers have negotiated steel and aluminum.

On December 20, Autocar reported :

GM delays electric vehicle targets as chip shortage bites. General Motors originally planned to produce 400,000 EVs by the end of 2023.

On December 23, Reuters reported : "GM recalls 140,000 Chevrolet Bolt EVs over fire risks....."

On December 28, GM Authority reported :

2024 Chevy Blazer EV PPV prototype spied testing: Photos. The 2024 Chevy Blazer EV PPV is intended to be the first pursuit-rated all-electric Chevrolet ever produced. Designed to meet or exceed the Michigan State Police annual vehicle testing, the vehicle includes a bevy of police-related content like underbody skid plates, all the necessary electronics, as well as vinyl seats and flooring.

For further details see:

EV Company News For The Month Of December 2022