ELMSQ - EV Company News For The Month Of December 2023

2024-01-08 06:27:49 ET

Summary

• Global electric car sales Nov. 2023 up 31%YoY to 19% share. China sales up 39% to 42% share. Europe down 2% to 26% share. USA up 30.6% to 9.23% share.
• EV market news - Electric vehicle sales in US to hit record in 2023. U.S proposes Foreign Entity Of Concern ("FEOC") rules. Canada to ban ICE cars/trucks by 2035.
• EV company news - BYD Co hits target selling 3.01m units in 2023. Tesla expanding Giga Shanghai ready for $25,000 Model 2, confirms over 2m Cybertruck pre-orders, hits 1.8m target.
• Hyundai doubles down on shift to EVs. Ford cuts planned 2024 production of electric F-150 Lightning in half. Xiaomi unveils its first EV the Xiaomi SU7.

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

December saw a record result for November 2023 global EV sales and news from the two market leaders both hitting their yearly EV sales targets. So much for the 'weak demand' narrative. Almost 1 in 5 new cars sold globally nowadays is a plugin electric car.

Global electric car sales as of end November 2023

Global plugin electric car sales were 1,385,000 in November 2023, up 31% on November 2022 sales. Global plugin electric car market share in November was 19% , and ~16-17% YTD (not updated this month).

China plugin electric car sales were 872,000 in November 2023, up 39% on November 2022 sales. Plugin electric car market share in China for November was 42% , and 37% YTD.

Europe plugin electric car sales were ~274,000 in November 2023, down 2% YoY, reaching 26% market share and 23% YTD. Norway reached 90.6% share, Sweden 60.6% , Netherlands 46% , Germany 25.7% , France 29.7% , and UK 25.7%.

Note: Australia reached 8% market share in Nov. 2023.

USA plugin electric car sales were 112,421 (as reported by Argonne National Laboratory) in November 2023, up 30.6% on November 2022 sales. Plugin electric car market share in USA for November was 9.23% .

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 car auto groups Jan-Nov., 2023 ( source )

Top selling global plugin electric car auto groups market share Jan-Nov., 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: Trend Investing's updated forecast for 2023 is 13.5m sales (17% market share).

Global plugin electric car sales forecast to grow exponentially this decade

Seeking Alpha's Trend Investing forecasts exponential global electric plugin car sales from now to 2040. By end 2025 annual sales to reach ~23m pa (27% market share) and by end 2030 to reach ~48.5m pa (57% 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 sales forecasts keep being revised upwards (as of Sept. 2023) ( source )

Electric vehicles' share of global car sales forecast (as of Sept. 2023) ( source )

EV market news

On November 24 The Economic Times reported : "Electric vehicle sales in US to hit record in 2023."

On December 1 Energy.gov announced : "Department of Energy releases proposed interpretive guidance on Foreign Entity of Concern for public comment."

On December 5 Fastmarkets reported :

A Foreign Entity of Concern (FEOC) includes any foreign entity that is "owned by, controlled by or subject to the jurisdiction or direction of a government of a covered nation". Those countries that currently fall into this "covered nation" category are China, Russia, North Korea and Iran...Starting from next year, with a period of transition, companies that have a more than 25% ownership or control by a FEOC - including board seats, voting rights or equity - will not be eligible for tax credits available under the Inflation Reduction Act (IRA). "To strengthen the security of America's supply chains, beginning in 2024, an eligible clean vehicle may not contain any battery components that are manufactured or assembled by a FEOC, and, beginning in 2025, an eligible clean vehicle may not contain any critical minerals that were extracted, processed or recycled by a FEOC," the Department stated...

On December 5 The Guardian reported :

Australian EV sales have increased by 185% since 2022. Industry experts say electric cars sales figures could be higher if the government stops delaying fuel efficiency standards...

On December 9 Seeking Alpha reported :

Electric vehicles 2024 and beyond: Why Tesla, BYD and Rivian may lap the field...Piper Sandler recently highlighted that the electric vehicle sector may be in better shape than believed..."Specifically, we still think the auto sector will eventually reach 100% EV penetration, and we disagree with the notion that EV demand is approaching exhaustion," he added. The previous electric vehicle forecast from Piper Sandler called for 33% electric vehicle penetration across the U.S., Europe, and China in 2025, and then rising to 67% by 2030. The firm's new forecast cuts those expectations by 600 - 700 basis points to imply 26% electric vehicle penetration in 2025, followed by 60% in 2030 . Notably, upward-sloping EV penetration is a function of the very bullish market share expectations for EV specialists like Tesla ( TSLA ), BYD Company (OTCPK: OTCPK:BYDDF ) (OTCPK:BYDDY), and Rivian Automotive (NASDAQ: RIVN )...

Note: Bold emphasis by the author.

On December 16 Reuters reported :

Germany to end e-vehicle subsidy programme. Germany's electrical vehicle subsidy programme will end prematurely on Monday after paying out some 10 billion euros since 2016, the Economics Ministry said, the latest sign of belt-tightening following the adoption of a revised 2024 budget this week. The new budget had to be slimmed down...The e-car subsidy was originally intended to apply until the end of 2024.

On December 19 the Canadian Government announced :

New Electric Vehicle Availability Standard will give Canadians better access to more affordable cars and cleaner air...The Standard will ensure that Canada can achieve a national target of 100 percent zero-emission vehicle sales by 2035. Interim targets of at least 20 percent of all sales by 2026, and at least 60 percent by 2030...

On December 21 Bloomberg reported :

US considering hiking tariffs on China EVs, solar products, WSJ reports. White House eyes completing tariff review early 2024: report.

On December 21 CarNewsChina reported : "CATL's CIIC skateboard chassis drives without body installed. Huawei might be the first customer."

On December 28 CNBC reported : "China's Xiaomi unveils its first EV as it looks to compete with Porsche, Tesla."

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% market share YTD (Jan-Nov. 2023). BYD is ranked number 1 in China with 36.1% market share in Oct. 2023.

On December 1 Electrek reported :

BYD surpasses Nissan amid record November sales as EV maker closes in on Tesla. China's leading EV maker, BYD, notched another sales record in November. BYD continues surging, with over 170,000 fully electric vehicles sold last month. The strong performance propelled the automaker past Nissan for the first time in sales. BYD sold a record 301,903 new energy vehicles in November, up 31% from last year. The figure includes plug-in hybrids (PHEV), but it was enough to surpass Nissan for the first time in monthly sales.

On December 15 CNEVPOST reported :

BYD officially launches Song L, starting price reduced by $4,250 from pre-sale. The Song L starts at RMB 189,800 and has received more than 28,000 pre-orders since pre-sales began on October 31.

On December 22 Seeking Alpha reported :

BYD Company secures deal to make electric vehicles in Europe...it plans to build its first European automobile manufacturing plant in Szeged, Hungary. The plant is expected to have capacity of around 200K vehicles. BYD ( OTCPK:BYDDF ) already has a presence in Hungary, with an electric bus plant in Komarom...will start the clock on a two-year to three-year timeline for production...

On December 27 Seeking Alpha reported :

BYD gets OK to test autonomous vehicle technology on Chinese highways...that makes BYD ( OTCPK:BYDDF ) the first company in China to receive the permission. The company added that while advanced, L3 is not yet fully self-driving technology.

On December 28 Bloomberg reported :

China's BYD takes Tesla's EV sales crown. During an appearance on Bloomberg Television in 2011, Elon Musk snickered at the suggestion that BYD Co. could compete with Tesla Inc. Now, the Chinese automaker is poised to surpass Tesla as the new worldwide leader in fully electric vehicle sales. When it does - likely in the current quarter - it will be both a symbolic turning point for the EV market and further confirmation of China's growing clout in the global automotive industry.

On January 1 Bloomberg reported :

China's best-selling car brand reported EV and hybrid sales of 340,178 in December - including 190,754 all-electric cars - aided by aggressive end-of-year discounting, according to an exchange filing Monday. In total, BYD sold 3.01 million units in 2023.

On January 2 CleanTechnica reported :

BYD shoots past Tesla in BEV sales - New #1!... In the 4th quarter of 2023, Tesla sold (aka delivered) 484,507 electric vehicles. In the same quarter, BYD sold 526,409 full battery-electric vehicles (BEVs).

Tesla Inc. (NASDAQ: TSLA )

Tesla is currently ranked the number 2 globally with 13.3% global market YTD (Jan-Nov. 2023). Tesla is number 2 in China with 7.5% market share in November 2023. Tesla is ranked 3rd in Europe with 12.0% market share in November 2023. Tesla is still the number 1 electric car seller in the US by far with ~50% market share YTD ( 54.5% in Q3, 2023).

On December 8 CarScoops reported :

Tesla expanding Giga Shanghai to get ready for $25,000 Model 2. The expanded Chinese factory will be capable of producing 2 million EVs each year...The Giga Shanghai site currently produces the Model 3 and Model Y and has an annual capacity of 1.1 million vehicles.

On December 15 Seeking Alpha reported : "Tesla bags incentives worth $153M for Mexico gigafactory."

On December 17 Teslarati reported : "Tesla has received over 2 million deposits for the Cybertruck: design head."

On December 22 Bloomberg reported :

Tesla acquires land for Shanghai Megapack battery factory...that will have capacity to produce 10,000 battery packs a year...plans to break ground at the site in the first quarter of 2024, with production starting in the fourth quarter, Tesla said in a statement on Friday.

On December 27 Bloomberg reported :

Tesla plans revamp of smash hit Model Y from China plant. Mass production of the refreshed model may start by mid-2024. Newest Model Y to have more obvious exterior, interior changes.

On January 3 Seeking Alpha reported :

Tesla tops Q4 deliveries expectations and ends 2023 with 1.81M vehicles moved. Tesla (NASDAQ: TSLA ) disclosed on Tuesday that it produced 494,989 vehicles in Q4 and delivered over 484,507 vehicles in comparison to the consensus estimate of 483K deliveries. Model 3 and Model Y deliveries accounted for 95% of the quarterly total. For the full year, vehicle deliveries grew 38% year-over-year to 1.81M while production grew 35% to 1.85M vehicles...

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% market share YTD, and 1st in Europe with 21.2% market share in Nov. 2023.

On December 9 Reuters reported :

VW considering cooperation with Renault on 20,000-euro electric car -Handelsblatt. Volkswagen (VOWG_p.DE) is speaking with potential partners, including France's Renault (RENA.PA) , about cooperating on the development of its 20,000-euro ($21,476) electric car...The German carmaker is interested in cooperating on a platform for the car that it hopes will make battery-powered vehicles affordable for the masses, Handelsblatt reported.

On December 21 WhichCar reported :

Porsche Macan to drop petrol power in Australia next year, electric coming. Porsche's most popular SUV will be sold in Australia in electric only guise after 2024...

On December 27 Car News China reported :

Volkswagen-backed JAC Yiwei EV powered by sodium-ion battery starts mass production in China...Editor's comment. Sodium-ion batteries are expected to play an essential role in the battery mix in the future. Their best-case use is stationary energy storage, two-wheelers, and entry-level EVs.

On December 29 Auto Evolution reported :

Audi recalls e-tron Quattro and e-tron Sportback Quattro for battery issue...An estimated 26,866 vehicles produced for the 2019 through 2022 model years are equipped with LG Energy Solution E61V battery modules that - in certain scenarios - may overheat and catch fire.

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% global market share YTD. Geely-Volvo is the number 4th ranked in China with 7.0% market share in Nov. 2023.

On December 4 Volvo Cars announced :

Volvo Cars reports 8 per cent sales growth in November...The share of Volvo Cars' Recharge line-up of chargeable Volvo models ended at 36 per cent during the month of November. Recharge is the overarching brand name for all chargeable Volvo models with a fully electric or plug-in hybrid powertrain. Sales of fully electric cars stood for 16 per cent of all Volvo cars sold globally.

On December 14 ZEEKR announced :

Introducing ZEEKR's new LFP EV Batteries that support ultra-fast charging and high energy density...ZEEKR will operate 1,000 ultra-fasting charging stations in 2024...

On December 27 ZEEKR announced : "The ZEEKR 007, a smart electric sedan, is officially launched." Highlights include:

• "ZEEKR received over 51,569 orders for the new ZEEKR 007 after debut at Auto Guangzhou 40 days ago.
• The ZEEKR 007 is the first model to carry ZEEKR's in-house ADAS system.
• Is the first model to have in-house-developed ZEEKR Sound audio system.
• The long-range variant, powered by CATL Qilin batteries, can support 870km [CLTC] of range.
• The standard range version with ZEEKR's in-house batteries can drive 688km [CLTC] between charges.
• 0-100km/h in 2.84 seconds in a rolling start scenario.
• Enhanced 800V electrical system brings rapid power delivery and charging speeds."

ZEEKR 007 ( source )

On December 29 Reuters reported :

China's Zeekr to begin selling EVs in Singapore in second half of 2024...Zeekr has previously announced plans to sell cars in Europe, the Middle East and some Asian markets.

On January 4 Electrek reported :

Volvo gets €420 million loan for a new EV platform...Volvo and the European Investment Bank (EIB), the EU's funding arm, signed a €420 million ($460M) financing agreement Thursday.

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 7.2% share in Nov. 2023.

On December 6 SAIC-GM-Wuling announced :

SAIC-GM-Wuling adds Wuling Xing Guang PHEV to its NEV portfolio. Following its presales kickoff at Auto Guangzhou 2023 in November, the Wuling Xing Guang plug-in hybrid electric vehicle (PHEV) family sedan was officially launched today, further enriching SAIC-GM-Wuling's new energy vehicle (NEV) portfolio in China. Two variants are priced at RMB 88,800 and RMB 105,800...The two variants have a pure electric range of 70 km and 150 km, and an ultra-low drag coefficient of 0.228Cd.

Wuling Xing Guang ( source )

On December 13 SAIC announced :

SAIC Motor's NEV monthly sales reach record high..Sales of new energy vehicles (NEVs) reached a record 151,000 units, a year-on-year increase of 16 percent, while its overseas sales totaled 118,000 units in November, a year-on-year increase of 6 percent and more than any other Chinese automaker. During the January-November period, SAIC Motor sold 904,000 NEVs, ranking second among Chinese automakers...

On December 15 Reuters reported :

Chinese EV maker MG Motors says new French subsidy rules likely to impact sales...France's revamped rules on consumer cash incentives for electric car purchases favour vehicles made in France and Europe over models manufactured in China, a government list of eligible car types showed. SAIC's MG4 is not part of the list of subsidised cars.

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% global market share YTD. Stellantis is ranked 2nd in Europe with 13.7% market share in Nov. 2023.

On December 7 Stellantis N.V. announced : "Stellantis and Ample establish partnership to leverage Ample's Modular Battery Swapping Technology for use in Stellantis Electric Vehicles."

On December 21 Stellantis N.V. announced : "Stellantis executes successful first employee share purchase plan."

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

BMW Group is currently ranked the number 7 global electric car manufacturer with 4.1% global market share YTD. BMW Group is ranked 4th in Europe with 10.1% market share in Nov. 2023.

On December 1 Carsales reported :

Mercedes-Benz and BMW to build EV Supercharging network... As part of the joint-venture, the German car-makers will build at least 1000 high-speed charging stations across China that will include more than 7000 charging points.

On December 21 Reuters reported :

BMW aims to deliver half a million EVs in 2024, CEO tells Focus...the abrupt end of a state-funded scheme for electric vehicles this month "does not change our global plans."

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% market share YTD. GAC Group is ranked 5th in China with 6.8% market share in Nov. 2023.

On December 5 CnEVPost reported :

GAC Aion enters Cambodian auto market with launch of Aion Y Plus. GAC Aion, the electric vehicle ( EV ) subsidiary of GAC Group, has entered the Cambodian automotive market, the second international market it has entered after Thailand.

On December 29 Car News China reported : "GAC Aion's one-millionth vehicle rolled off production line, world's fastest vehicle brand to do so..."

On December 29 Gasgoo reported :

GAC Energy plans to build 10 thousand 1,000V supercharging terminals in 2024...The plan aims to surpass one million private charging station users by 2024, ensuring orderly charging, constructing an energy trading platform, and promoting the use of new energy for electric vehicles.

Hyundai ( OTC:HYMTF ), Kia

Hyundai-Kia Group is currently ranked number 9 in the global electric car manufacturer's sales ranking with 3.8% market share YTD. Hyundia-Kia Group is ranked 5th in Europe with 8.4% market share in Nov. 2023.

On December 1 Kia announced :

Best-ever November sales sends Kia America past its all-time annual sales record in under eleven months...Electric models post 120% year-over-year increase...

On December 5 Kia announced :

Combined six rows of success: all-new Kia EV9 and Telluride named to Car and Driver's 2024 10 Best Trucks and SUVs...

On December 5 Hyundai announced : Hyundai IONIQ 6 Tops Edmunds quickest EV charging test."

On December 11 Kia announced : "Hyundai Motor Group affiliates listed in 2023 Dow Jones Sustainability™."

On December 21 Electrek reported : "Hyundai doubles down on shift to EVs with plans to shut down two engine parts plants..."

On January 2 Electrek reported : "Hyundai patents an all-solid-state EV battery system in the US."

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.

On December 18 Mercedes-Benz announced :

Mercedes-Benz obtains approval for conditionally automated driving test license in Beijing to advance in the Chinese market...

On December 29 Mercedes Blog reported : "Mercedes C-Class electric will arrive in 2025..."

Li-Auto ( LI ) [HK:2015]

Li-Auto is ranked 7th in China with 4.6% market share in Nov. 2023.

On December 1 Li-Auto announced :

Li Auto Inc. November 2023 delivery update...delivered 41,030 vehicles in November 2023, representing an increase of 172.9% year over year...

On January 1 Seeking Alpha reported : "Li Auto delivers 50,353 vehicles in December, ninth consecutive record-breaking month..."

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

On December 4 Great Wall Motors announced : "GWM launches ORA 07 at the 40th Thailand Auto Expo...."

On December 5 Drive reported :

GWM's electric car recalled due to risk of electrocution while charging. A fault in the GWM Ora's software could result electrocution for those who unplug the electric car while it's being charged...

On December 8 Great Wall Motors announced :

GWM's sales soar to new heights in November...GWM new energy models sold 31,248 units (including new energy commercial vehicles) in November, a year-on-year surge of 142.93%, achieving year-on-year growth for the eighth consecutive month.

Ford (NYSE: F )

On December 11 CNBC reported :

Ford cuts planned 2024 production of electric F-150 Lightning in half...Ford executives have recently said the automaker will match production to demand, as the company cancels or postpones $12 billion in upcoming EV investments...Automakers are working to cut costs of producing all-electric vehicles, while rethinking production and product plans for the years ahead.

NIO Inc. ( NIO )

On December 1 NIO Inc. announced : "NIO Inc. provides November 2023 delivery update." Highlights include:

• "NIO delivered 15,959 vehicles in November 2023, increasing by 12.6% year-over-year.
• NIO delivered 142,026 vehicles year-to-date in 2023, increasing by 33.1% year-over-year.
• Cumulative deliveries of NIO vehicles reached 431,582 as of November 30, 2023."

On December 5 NIO Inc. announced :

NIO Inc. reports unaudited third quarter 2023 financial results. Quarterly total revenues reached RMB19,066.6 million (US$2,613.3 million). Quarterly vehicle deliveries were 55,432 units.

On December 18 NIO Inc. announced :

NIO Inc. announces US$2.2 billion strategic equity investment from CYVN...an investment vehicle based in Abu Dhabi...Following the completion of the December Investment Transaction, CYVN will beneficially own approximately 20.1% of the Company's total issued and outstanding shares.

On December 27 NIO Inc. announced : "NIO Inc. announces closing of US$2.2 billion strategic equity investment from CYVN..."

On January 1 Seeking Alpha reported : "NIO December deliveries of 18,012 increased for a third straight month."

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

On December 1 XPeng Inc. announced :

XPENG announces vehicle delivery results for November 2023. New monthly record of 20,041 vehicles delivered in November 2023, a 245% increase year-over-year.

On December 6 XPeng Inc. announced :

XPENG announces the closing of new shares issuance pursuant to share purchase agreement and development under technical framework agreement with Volkswagen...The total purchase price for all the Subscription Shares is approximately US$705.6 million.

On December 18 XPeng Inc. announced : "XPENG to launch X9 Ultra Smart large seven-seater on January 1, 2024."

On January 1 Seeking Alpha reported : "XPeng announces record delivery of 20,115 in December."

On January 1 XPeng announced :

XPENG launches X9 Ultra Smart large seven-seater in China...Priced in the range of RMB 359,800 - 419,800 (China only) with immediate deliveries...

XPENG X9 ( source )

General Motors ( GM ), Chevrolet

On December 14 Reuters reported : "GM still planning to end gas-powered vehicle sales by 2035 -- CEO..."

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

On December 11 Reuters reported :

Renault to pick partner for new Twingo EV by early 2024 -sources. Renault aims to pick a partner to develop its new Twingo electric vehicle by early next year, two sources close to the matter said, with Volkswagen among those in the running...

On December 15 Mitsubishi announced :

Mitsubishi Motors to begin production of the new Minicab EV Electric Commercial Vehicle in Indonesia, the first local production of the vehicle outside Japan.

On December 17 Reuters reported : "Nissan to export China-developed EVs to global markets..."

On December 18 Renault announced : "Renault lifts another corner of the veil on Renault 5 E-Tech electric ahead of its reveal at the 2024 Geneva International Motor Show." Highlights include:

• "Renault will be staging the world premiere of Renault 5 E-Tech electric on 26 February at the Geneva International Motor Show.
• Renault 5 E-Tech electric will sell with two battery options, including one with a capacity of 52 kWh, for a range of up to 400 km WLTP..."

Polestar Automotive Holding UK Limited ( PSNY )

On December 20 Drive reported :

Polestar 3 electric SUV to get $17,000 price rise months after first deliveries in Australia - update. The Polestar 3 will be hit with price hikes of more than $17,000 on some models within months of first local deliveries, as costly option packs will no longer be included in the base price.

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

On December 1 Caixin Global reported : "Hozon EV Unit kicks off production at first overseas plant in Thailand..."

On December 29 Bloomberg reported : "Electric car companies from China are flocking to Hong Kong." Highlights include:

• "Cell maker CATL, Hozon have set up in the Asian financial hub.
• Firms repatriating funds out of mainland subject to inspection."

Rivian Automotive ( RIVN )

On December 14 Rivian Automotive announced : "AT&T and Rivian team up to reduce CO2 emissions and enable smart, connected vehicles..."

Lucid Group ( LCID )

On December 14 Reuters reported : "Lucid has assembled near 800 cars in Saudi plant, focused on training -VP..."

For further details see:

EV Company News For The Month Of December 2023