EVTL - EV Company News For The Month Of July 2022

• Global electric car sales for June 2022 - Up 54% YoY reaching 16% share. China sales up 132% YoY to 28% share. Europe sales down 8% YoY to 21% share.
• EV market news - US crosses the electric-car tipping point for mass adoption. Reconciliation Bill has $369 billion to fight climate change, includes EV point of sale credits.
• EV company news - BYD Seal started sales in China. Tesla aims to produce 40,000 vehicles a week by end 2022, Model Y top seller globally. Hyundai IONIQ 6 debuts.
• BMW begins production of fully electric i7. Ford on track to ramp EV production to 600k run rate by ’23 and 2m+ by ’26. Ford expects a CAGR for EVs to top 90% through 2026. GM on course to reach 1 million EV capacity by 2025.
• Toyota plans $1.8 bln Indonesia investment to build EVs. Baidu unveils autonomous vehicle without steering wheel.

Welcome to the July 2022 edition of Electric Vehicle [EV] company news. July saw plenty of great news, including incredible China e-car sales (28% market share in June), BYD Co dominating China e-car sales, Tesla Model Y the leading e-car seller globally, big announcements from Ford & GM, and some big moves coming from the U.S government to support EVs.

June global electric car sales were a RECORD approaching 1 million units, and hitting an incredible 16% market share ! More details below.

Global electric car sales as of end June 2022

Global electric car sales finished June 2022 with 913,000 sales for the month, up 54% on June 2021, with market share of 16% for June 2022, and 12% YTD.

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

China electric car sales were 565,000 in June 2022, up 132% on June 2021 sales. Electric car market share in China for June was 28% , and 26% YTD.

Europe electric car sales were 219,000 in June 2022, down 8% YoY, reaching 21% market share and 20% YTD. (Europe ICE vehicle sales in June were down 17% ). Norway reached 90% share, Sweden 55% , Netherlands 34% , Germany 26% , France 20% , and UK 22% share in June 2022.

USA sales were not reported by CleanTechnica no paywall site; however another report stated : "In Q2, EV sales accounted for 5.6% of the total market, an increase from 5.3% in Q1 and a record high. EV share in Q2 2021 was 2.7%."

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 brand for June 2022

Global plugin electric car sales by brand YTD in 2022

Top plugin electric car sales YTD by auto group

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.

Source : BloombergNEF

Bloomberg Electric Vehicle Outlook 2022 (published May 2022)

BloombergNEF now forecasts "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 long term EV forecast (global EV share to exceed 70% by 2040)

Source : BloombergNEF

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

Source : BloombergNEF

EV market news

On July 8 Electrek reported :

A team in China has developed the country's first pure solar-powered vehicle... The Tianjin solar vehicle recently made its debut at the sixth World Intelligence Conference and has started a new tour around mainland China. According to local media in China, the solar vehicle was jointly developed in just five months by 42 companies and three universities... The solar module area of ??this vehicle is 8.1 square meters, far more an SEV like the Lightyear), which is equipped with 5 square meters of cells... and that's a lot.

On July 9 Bloomberg reported :

US crosses the electric-car tipping point for mass adoption. Once 5% of new-car sales go fully electric, everything changes - according to a Bloomberg analysis of the 19 countries that have made the EV pivot.

Source : BloombergNEF

On July 13 Reuters reported :

Vietnam's VinFast taps banks for $4 bln EV factory funding deal. Vietnam carmaker VinFast said it has tapped Credit Suisse (CSGN.S) and Citigroup (C.N) to raise at least $4 billion to build its planned electric vehicle factory in North Carolina and fund its U.S. expansion.

On July 15 Seeking Alpha reported :

Vertical Aerospace receives aircraft pre-order from FLYINGGROUP, forays into business aviation. Vertical Aerospace (NYSE: EVTL ) announced that Europe-based FLYINGGROUP, business jet operators, has conditionally pre-ordered up to 50 VX4 aircraft. This is Vertical's first commercial agreement within the business aviation market which increases Vertical's conditional pre-order book to up to 1.4K aircraft with a total value of $5.6B.

On July 16 Reuters reported :

Biden says he will act on climate after talks collapse in Senate... "If the Senate will not move to tackle the climate crisis and strengthen our domestic clean energy industry, I will take strong executive action to meet this moment," Biden said in a statement.

On July 20 Bloomberg reported : "India plans $10 billion electric bus contract to curb emissions."

On July 24 Inside EVs reported : "...The world's first fully electric jet ski has arrived."

On July 27 Bloomberg reported :

Germany cuts electric-vehicle subsidies to target smaller cars. Support will end for pricier models in potential blow to Tesla. Mercedes, BMW likely also hit in program to support clean cars. The agreement cuts a cash bonus for e-vehicles costing less than 40,000 euros ($40,500) to 4,500 euros from 6,000 euros, the Economy Ministry said Tuesday in a statement. Cars with a price tag of more than 40,000 euros will get a smaller subsidy, while those sold above 65,000 euros will receive no bonus at all going forward... From 2024, the bonus will drop to 3,000 euros and will only be granted for cars costing less than 45,000 euros. Tesla's Model 3, its cheapest vehicle, starts at 49,990 euros in Germany.

On July 28 Bloomberg reported :

Senate deal includes EV tax credits sought by Tesla, Toyota. Extension win for capped-out companies like GM, Tesla, Toyota... It will allow carmakers to continue offering $7,500 in tax credits for the purchase of new "clean cars" with some conditions: they will need to be built with minerals that are extracted or processed in a country the US has a free trade agreement with, and have a battery that includes a large percentage of components that were manufactured or assembled in North America... Car buyers would also be eligible to receive $4,000 for used clean cars for the first time... Proposed legislation removes prior requirements that called for qualified vehicles to have solely plug-in electric drive motors and a prior 200,000-vehicle per manufacturer cap... The deal also includes a cap on the suggested retail price of eligible vehicles of $55,000 for new cars and $80,000 for pickups and SUVs. Credits would be capped to an income level of $300,000 for a single filing taxpayer and $150,000 for joint filers for new vehicles and $75,000 and $150,000 for used cars... The Senate is set to vote on the proposed legislation next week, after which it will go to the Democrat-controlled House of Representatives.

On July 28 CNBC reported : "Schumer-Manchin reconciliation bill has $369 billion to fight climate change - here are the details." Note: The used EV credit is US$4,000 not US$3,000...

Note: More details here on Twitter including: "This is a big one: Commercial vehicles that weigh OVER 14,000 lbs are eligible for a $40,000 tax credit or 30% of cost of the vehicle (whatever is less). This means the @Tesla Semi will qualify."

EV company news

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

BYD is currently ranked the number 1 globally with 15.4% market share YTD. BYD is ranked number 1 in China with 26.9% market share in YTD.

On July 5 Teslarati reported : "BYD "overtakes" Tesla as world's biggest EV maker in 1H22, but there's a catch."

On July 15 Seeking Alpha reported :

Goldman Sachs expects BYD Company's profitability to expand in 2H22... Goldman Sachs maintained BYD's shares traded in Hong Kong on its Conviction Buy list with a price target of HK$405, implying ~38% upside vs. it's last closing price of HK$294.20.

On July 18 BYD announced :

BYD awarded the first ever order for 13-metre low-entry eBuses in Iberia. BYD, the world's leading manufacturer of New Energy Vehicles (NEVs) and power batteries, has recently been awarded an order for 15 electric buses from Empresa de Blas y Cia. S.A.

On July 18 The Driven reported : "BYD to open new "experience centres" for Atto 3, despite delivery delays..."

On July 21 ElectricCarsReports reported :

BYD enters the Japanese passenger vehicle market with three EV models... Three BYD models debuted at the conference - BYD ATTO 3, BYD DOLPHIN, and BYD SEAL.

On July 21 Reuters reported : "China's BYD to start selling electric vehicles in Japan next year..."

On July 28 Aljazeera reported :

China's BYD was written off by Elon Musk. Now it's beating Tesla. The Shenzhen-based electric carmaker sold more than 641,000 vehicles in the first half of 2022.

On July 29 CarNewsChina reported :

BYD Seal started sales in China with 530 HP and starting price of 31,200 USD... The Seal is an electric sedan with up to 700 km of range... The main rival of the Seal is the Tesla Model 3.

On July 29 CarNewsChina reported :

BYD Sea Lion SUV, Chinese competitor to Tesla Model Y, spotted. Set to be launched in Q3 of 2022, the Sea Lion is a pure electric SUV with a range touted to be above 700 km.

BYD Seal, Atto 3, Dolphin

BYD is dominating China electric car sales in 2022

Source : CleanTechnica

Tesla Inc. (NASDAQ: TSLA )

Tesla is currently ranked the number 2 globally with 13.6% global market share YTD. Tesla is number 3 in China with 8.3% market share YTD, noting in June 2022 Tesla Model Y was the number 1 selling EV model in China, UK , and also in Europe . Tesla is still the number 1 electric car seller in the US by far.

On July 4 Electrek reported : "Tesla unveils solar range extender trailer with SpaceX Starlink internet terminal."

Tesla aims for record production in back half of the year. Elon Musk said on the Tesla earnings call that the automaker aims to produce 40,000 vehicles a week by the end of this year. That level of production would mark a 25% jump from a recent high of about 30,000 vehicles a week.

Note: 40,000 per week suggests 2023 sales can exceed 2 million. Our model current forecasts Tesla to produce 2.1 million EVs in 2023. Details here .

On July 26 Teslarati reported :

Tesla Giga Shanghai output expected to reach ~3,000 vehicles per day after factory upgrades... Tesla China finished upgrading the Model Y assembly line on July 16. It is currently completing upgrades to the Model 3 production line.

Investors can read our past 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 is equivalent to USD 50). Investors can also read the latest Tesla Trend Investing Tesla article here .

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 3 globally with 8.6% market share YTD. SAIC/GM/Wulin JV (SGMW) is 2nd in China with 13.4% share YTD.

On July 26 SAIC Motor Corporation Limited reported :

SAIC Motor's new EV model to debut in Europe. The first batch of SAIC Motor's new EV model - MG4 ELECTRIC - departed from Haitong port in Shanghai on a ro-ro ship, and headed to Europe on July 21. MG4 ELECTRIC was unveiled by SAIC Motor, China's largest auto maker, and is built with the carmaker's new MSP platform that is designed solely for all-electric cars. It sports the company's One Pack battery with an energy density that can reach 180 Wh/kg. Equipped with an active safety system and a data security protection system... The new model also features a "zero thermal runaway" system to prevent it from catching fire or overheating. MG4 ELECTRIC has reached the international top level in terms of design, safety, environmental protection, and quality, and is expected to be launched in Europe in fall of this year.

SAIC Motor's new EV model - MG4 ELECTRIC

Source : SAIC Motor Corporation Limited website

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

'Volkswagen Group' is currently ranked the number 4 top-selling global electric car manufacturer with 8% market share YTD, and 1st in Europe with 18.6% market share YTD.

On July 7 Volkswagen reported : "Ground breaking in Salzgitter: Volkswagen enters global battery business with "PowerCo"." Highlights include:

• "...start of construction for the Group's first cell factory in Salzgitter.
• PowerCo to be responsible for global battery activities of the Volkswagen Group; investment of more than €20 billion, sales potential of €20 billion and 20,000 jobs in Europe planned.
• Salzgitter cell factory to be blueprint and starting point for global battery offensive - with six cell factories in Europe and the prospect of further factories in North America in the future.
• Sustainable mobility: PowerCo committed to green unified cell, produced with green electricity and a recycling rate of more than 90% as part of a raw materials cycle..."

On July 12 Forbes reported :

VW and Audi to recycle EV batteries through Tesla cofounder's company... Redwood Materials, Tesla cofounder JB Straubel's battery recycling company... Redwood estimates it can recover over 95% of the high-value metals in those lithium-ion packs, including nickel, cobalt, lithium and copper.

On July 15 Seeking Alpha reported : "Volkswagen battery unit PowerCo reportedly ramping up production ahead of IPO."

On July 15 Volkswagen reported : "Volkswagen Group delivers 27 percent more all-electric vehicles in first half year." Highlights include:

• "Despite ongoing supply bottlenecks and Covid-related lockdowns in China, 217,100 all-electric vehicles (BEVs) have been handed over to customers by the end of June (H1 2021: 170,900).
• Strong demand: BEV order intake in Western Europe up by 40 percent.
• Growth driver: BEV deliveries in China increase more than three-fold to 63,500 units amid Covid restrictions (H1 2021: 18,300)..."

On July 21 Bloomberg reported :

Porsche believes it can make more profit selling electric cars. The German sports-car maker planning to list this year expects more price power for its EVs.

On July 22 Electrek reported : "Volkswagen Group CEO Herbert Diess is stepping down, Porsche's Blume to take over."

On July 26 Volkswagen reported : "Volkswagen starts U.S. assembly of all-electric ID.4 flagship in Chattanooga, Tennessee."

Geely Automobile Holdings Ltd ( OTCPK:GELYY , HK:0175), Volvo Cars (VLVOF), Kandi Technologies Group (NASDAQ: KNDI ), Proton, Lotus,

Geely/Volvo is currently ranked number 5 in the global electric car manufacturer's sales ranking with 5.6% global market share YTD.

On July 1 Volvo Cars reported :

Volvo Cars gears up for long-term sustainable growth with new Slovakia electric car manufacturing plant... The new state-of-the-art plant will be climate neutral and build only electric cars, underpinning the company's ambition to become fully electric by 2030 and climate neutral by 2040,

On July 4 Volvo Cars reported :

Volvo Cars reports sales of 49,904 cars in June. Volvo Cars today reported sales of 49,904 cars in June, down 26.9 per cent compared with the same month last year. Demand for the company's cars remains robust, especially for its Recharge line-up of electrified cars.

Stellantis N.V. (NYSE: STLA ) (merger Fiat Chrysler Group ( FCA ) and the Peugeot Group ( PSA )) Ferrari (RACE)

Stellantis Group is currently ranked the number 6 in the global electric car manufacturer's sales with 5.5% global market share YTD. Stellantis is ranked 2nd in Europe with 16.6% market share YTD.

On July 15, Stellantis N.V. reported : "Stellantis and Dongfeng agree on a share repurchase framework."

On July 18, Stellantis N.V. reported :

Stellantis implements asset-light approach to grow Jeep® brand in China and negotiates termination of local Joint Venture with GAC Group.

On July 28, Stellantis N.V. reported :

Stellantis posts record first half 2022 results with 14.1% AOI margin(1), €8.0 billion net profit and €5.3 billion industrial free cash flows(2); Global BEV sales up nearly 50%, among leaders in EU30 BEV sales... Global BEV sales up nearly 50% y-o-y to 136k units.

Hyundai ( OTC:HYMTF ), Kia ( OTC:KIMTF )

Hyundai-Kia Group is currently ranked number 7 in the global electric car manufacturer's sales ranking with 5.4% market share YTD. Hyundai-Kia Group is ranked 3rd in Europe with 11.5% market share YTD.

On July 1 Kia reported :

Kia announces June 2022 global sales results. Kia to continue creating sales momentum and enhancing profitability through new models, such as the Kia EV6.

On July 13 Hyundai reported : "Hyundai IONIQ 6 electrified streamliner debuts with extended range and innovative personal space." Highlights include:

• "Hyundai Motor's next all-electric vehicle engineered to be a special place to be in.
• 77.4-kWh battery is mated to an aerodynamically sculpted silhouette to provide WLTP-estimated over 610 km of all-electric range on a single charge.
• With WLTP-estimated energy consumption under 14 kWh/100 km, IONIQ 6 to be one of the most energy-efficient EVs in the market.
• Mindful of passengers' needs, IONIQ 6 to offer an ergonomic interior on a 2,950-mm wheelbase with purposeful features that elevate the electric mobility experience.
• Dual Color Ambient Lighting with speed-synchronization, EV Performance Tune-up to enhance IONIQ 6's personalized driving experience.
• Hyundai Motor Group's Electric-Global Modular Platform to enable 800-V ultra-fast charging from 10 to 80 percent in just 18 minutes.
• Advanced driver assistance and Over-the-Air (OTA) software updates are available.
• Hyundai to unveil IONIQ 6 digital world premiere film under 'Awaken Your World' concept."

Hyundai IONIQ 6 Electrified Streamliner

On July 14 Bloomberg reported :

Hyundai unveils new model of cult EV that's taking on Tesla... Ioniq 6 prices for customers in South Korea start at $42,000."

On July 14 Hyundai reported :

Hyundai Motor's N brand unveils two rolling Lab concepts, signaling high-performance vision for electrification era... N Vision 74 is a high-performance hydrogen fuel cell hybrid model...

On July 18 Hyundai reported : "Hyundai Motor Group's Supernal unveils eVTOL Vehicle Cabin Concept at 2022 Farnborough International Airshow."

Hyundai Motor eVTOL Vehicle Cabin Concept

On July 18 Hyundai reported :

Rolls-Royce & Hyundai Motor Group sign MOU to lead the way in the advanced air mobility market using all-electric propulsion and hydrogen fuel cell technology.

On July 20 Electrek reported :

Hyundai plans a new small electric car for less than $20,000... However, it sounds like only European markets might get access to it.

On July 21 Hyundai reported :

Hyundai Motor announces 2022 Q2 business results. Hyundai's Q2 full-electric model sales jumped 49% year on year to 53,126 units.

On July 22 Kia reported :

Kia announces 2Q 2022 business results. 2Q all-electric model sales nearly doubled to 44,000 units with overall eco-friendly vehicle sales increasing 79% to 133,000 units year-on- year...

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

BMW Group is currently ranked the number 8 global electric car manufacturer with 3.8% global market share YTD. BMW Group is ranked 4th in Europe with 11.2% market share YTD.

On July 6 The Driven reported :

BMW begins production of fully electric i7... The BMW Group has invested over €300 million to modify the BMW Group Plant Dingolfing into a BMW iFactory where it can manufacture the BMW 7 Series, billed as the first luxury sedan in the world to offer customers a choice between all-electric, ICE, and hybrid drive.

On July 8, BMW Group reported : "At the forefront of electromobility: BMW Group doubles global sales of fully-electric vehicles in first half-year." Highlights include:

• "Group half-year sales reach 1,160,443 units.
• 75,891 all-electric BMW and MINI vehicles sold..."

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

Daimler-Mercedes is ranked number 9 globally with 3% market share.

On July 11 Mercedes Blog reported :

Sales of Mercedes-EQ Electric Models increased by 90% in Q2 of 2022... to 23,500 units, despite a challenging economic climate. In contrast, total sales fell by 16% in both the second quarter and the first half of 2022.

On July 12 Mercedes Blog reported : "New base version Mercedes EQE 300 starting at 66,402 euro..."

Mercedes EQE 300

Source : Mercedes Blog

On July 15 Mercedes Blog reported :

Aston Martin to use Mercedes Electric Platform for its first electric model planned for 2025... Aston Martin's intention is to use this platform for more electric models and wants all its mainstream models to go electric by 2030.

On July 22 Reuters reported :

Daimler Truck starts production of second electric truck, the eEconic... The vehicle will be produced at the same site as the truck and bus maker's first electric model, the heavy-duty truck eActros, in Woerth, Rhineland-Palatinate.

GAC Group (Guangzhou Automobile Group Co. Ltd.)

GAC Group is ranked number 11 globally with 2.4% market share YTD.

On July 4 Batteries News reported :

GAC Group releases new battery technology. GAC Group unveiled its next-generation super-energy lithium iron battery, based on microcrystalline technology. Cailian Press learned from sources familiar with the matter that the technology would be installed in the latest GAC AION models as early as next year. Compared with the current mass-produced lithium iron phosphate cells on the market, super-energy lithium iron battery increases the cell mass energy density by 13.5%, the volume energy density by 20%, and the -20°C low temperature capacity by about 10%.

On July 27 Gasgoo reported : "GAC AION announces establishment of energy subsidiary."

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

On July 1 XPeng Inc. reported : "XPeng announces vehicle delivery results for June and second quarter 2022." Highlights include:

• "5,295 vehicles delivered in June 2022, a 133% increase year-over-year.
• 34,422 vehicles delivered in 2Q 2022, a 98% increase year-over-year.
• 68,983 total vehicles delivered in the first six months of 2022, a 124% increase year-over-year."

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

On July 12 Great Wall Motors reported :

...GWM is actively exploring the European market. Recently, ORA FUNKY CAT and WEY COFFEE 01 PHEV appeared at the 35th International Electric Vehicle Symposium (EVS35) in Norway, and released the brand concept to show the advantages of GWM in the field of electric transportation. EVS35 symbolized the starting point for GWM to enter the market of Norway. Meanwhile, WEY COFFEE 01 PHEV has also embarked its journey into the market of Germany... GWM is taking practical actions to demonstrate Chinese new energy and intelligent automobile products to potential users of high-end markets in Europe.

On July 12 Car News China reported : "Great Wall Motors enters Malaysia; Will focus on EVs..."

Ford (NYSE: F )

On July 5 Ford reported :

Ford Otosan takes Ford plant in Craiova into electric future... Ford Otosan to continue producing the Ford Puma, and the new all-electric Puma in 2024.

On July 21 Ford reported : "Ford releases new battery capacity plan, raw materials details to scale EVs; On track to ramp to 600k run rate by '23 and 2m+ by '26, leveraging global relationships." Highlights include:

• "Ford has added battery chemistries and secured contracts delivering 60 gigawatt hours [GWH] of annual battery capacity to deliver global 600,000 EV run rate by late 2023.
• Lithium iron phosphate battery packs coming for Mustang Mach-Es sold in North America next year and F-150 Lightnings in early 2024, creating more capacity for high-demand products.
• Ford already has sourced 70% of battery capacity to support 2 million+ annual EV global run rate by 2026; plans to localize 40 GWh per year of lithium iron phosphate capacity in N.A. in 2026; new deal with CATL on strategic cooperation for global battery supply; and direct-sourcing battery raw materials in U.S., Australia, Indonesia - and more.
• Company expects compound annual growth rate for EVs to top 90% through 2026; more than double forecasted global industry EV growth.
• Ford's Cologne Electrification center in Europe updated with new energy efficient solutions that will save more than 2,000 tons of CO2 and more than 2,600 MWh of electric energy per year."

On July 21 CNBC reported :

Ford reassures investors it has the battery supplies it needs for ambitious EV goals... Ford will begin offering lower-cost LFP batteries in its Mustang Mach-E and F-150 Lightning. Chinese battery giant Contemporary Amperex Technology will help it get to a rate of 2 million EVs per year by 2026.

Li Auto ( LI ) [HK:2015]

On July 1 Li-Auto reported :

Li Auto Inc. June 2022 delivery update. Li Auto Inc... a leader in China's new energy vehicle market, today announced that the Company delivered 13,024 Li ONEs in June 2022, up 68.9% year over year. This brought the Company's second quarter deliveries to 28,687, representing a 63.2% year-over-year increase. The cumulative deliveries of Li ONE have reached 184,491 since the vehicle's market debut in 2019.

On July 14 Bloomberg reported : "Li Auto's heady EV sales target rests on winning over chipmakers." Highlights include:

• "Chinese EV upstart aims to ship 2 million cars a year by 2025

• Supply chain is one of 'biggest challenges,' co-founder says."

NIO Inc. ( NIO )

On July 1 NIO Inc. reported : "NIO Inc. provides June and second quarter 2022 delivery update." Highlights include:

Company achieved record-high monthly deliveries

For further details see:

EV Company News For The Month Of July 2022