EV.Careers’ Post

Trend: EV Slowdown The automotive industry is observing a slower-than-expected adoption of electric vehicles (EVs), prompting companies like Ford and Volkswagen to delay their battery production plans. Ford has postponed the production at one of its Kentucky battery plants, and its Model e business has reported substantial losses. Similarly, Volkswagen has pushed back its fourth battery plant in Eastern Europe due to sluggish EV sales. General Motors has also scaled back its EV production goals. Amidst this trend, Panasonic is reducing its Japanese production of EV batteries due to decreased consumer demand. Despite these setbacks, the long-term outlook for EV adoption remains optimistic, with GlobalData forecasting significant growth by 2028. - Ford Delays Some EV Battery Production, Cites Lower-Than-Expected - Demand (https://lnkd.in/e9erku6f) - Volkswagen delays fourth EV battery plant over ‘sluggish’ sales (https://lnkd.in/eAxYt_H6) - Automakers Are Pumping The Brakes On The EV Transition (https://lnkd.in/ebZnNZ-9) - Panasonic reduces production of electric vehicle batteries (https://lnkd.in/eH342h6c) #autowist #automotive #automotivetech #tech #technology #weeklyroundup #EV #electricvehicles #autonomousdriving #autonomous #sdv #swdefinedvehicles #mobility #micromobility #connectivity #digital #digitalization #vc #venturecapital #tesla #panasonic #volkswagen #vw #ford

The Australian appetite for EVs is growing healthily. According to The Federal Chamber of Automotive Industries, over 87,000 EVs were delivered to Australia in 2023. Battery EVs accounted for 7.2% of sales with combined battery electric plug-in hybrid and hybrid vehicles making up 16.2% of sales in 2023. Now, they might become more affordable as the world's largest battery maker, CATL in China, has claimed it will reduce the cost of EV batteries by up to half as it improves battery technologies. Would you consider an EV purchase if its price matched that of petrol-fuelled cars? For more information: https://lnkd.in/guBcR8J7 #ElectricVehicles #Sustainability

Carmakers are faced with significant overcapacity to make EVs because of softening demand with many turning back to development plans for combustion-engine cars, according to French auto parts supplier OPmobility SE. US, German and French carmakers are producing EVs at levels currently 40% to 45% below initial expectations, “which means the capacity that had been put in place by our clients and by ourselves requires continuous adjustment,” OPmobility CEO Laurent Favre said. “We are adapting the way we work with our clients.” Europe’s EV shift has faltered due to high prices and the removal of subsidies by a number of governments. The setback is prompting companies like Mercedes-Benz Group AG to push out EV sales targets while battery makers are reviewing projects. OPmobility General Motors Ford Motor Company Stellantis Toyota Motor Corporation American Honda Motor Company, Inc. Hyundai Motor Company (현대자동차)    Blog – Analysis and Commentary – Automotive (ICE EV and Hybrid) – April 2024 - https://lnkd.in/gcve9aYp and https://lnkd.in/gn7WcKBu

As the EV market matures, it raises questions about their long-term advantages compared to thermal vehicles.  Battery reconditioning is a primary concern: "Many electric models have never been cheaper, as automakers splurge on financing deals and cash incentives to sway consumers who might be hesitant to give up their gas guzzlers. [...] On average, buyers paid about $1,500 more for nonluxury EVs than internal combustion engine vehicles, according to a July J.D. Power report. Just over a year ago, the average EV fetched $8,400 more.  In some cases, electric models that once came with a hefty premium are actually cheaper than their combustion-engine equivalents.  [...] On average, buyers paid about $1,500 more for nonluxury EVs than internal combustion engine vehicles, according to a July J.D. Power report. Just over a year ago, the average EV fetched $8,400 more.  In some cases, electric models that once came with a hefty premium are actually cheaper than their combustion-engine equivalents.  [...] For now though, most manufacturers are selling EVs at a loss, and deeper discounts are leading to more red ink.  [...] EV prices are falling even more sharply on the used lot. As recently as mid-2022, preowned electric cars were going for a roughly 80% premium relative to gas equivalents, according to Cox Automotive. Recently, used EVs were only 9% higher." #USA #China #EV #Discounts #SecondHand #Batteries

The Government’s proposed New Vehicle Efficiency Standard (NVES) will introduce targets to reduce tailpipe emissions of new vehicles by 60% between 2024 and 2029. In the long term, the NVES sends a strong signal to vehicle manufacturers to supply greater number of low-emission vehicles into Australia. The biggest question, in our view, will be whether vehicle manufacturers pass on the credits and debits (or penalties) to consumers.  Pure battery electric vehicle (BEV) brands like Tesla, BYD and Polestar will receive credits. If credits are passed on to consumers through discounted EV prices, this will create further incentives for greater EV uptake amongst the passenger car and SUV segments.  Lower upfront costs will help tilt the dial favourably to EV ownership. In our view, the biggest short-term challenge for the NVES will be in vehicle segments where (i) EV uptake is low, (ii) low emissions vehicles have a large price premium, and (iii) consumer demands for EVs are untested. This is clearly the case for utes within the light commercial vehicle segment. Each vehicle manufacturer has a variety of levers to respond to the NVES. At the end of the day, all eyes will be on each vehicle manufacturer who will respond to the NVES with an optimal sales strategy. For further analysis, please read our latest note attached. Please feel free to reach out for any discussion with the contact details provided on the note. CommBank Business and Institutional

"Cheap and cheerful evs tend to offer better value for money. But in America it is hard to find a set of electric wheels for less than $30,000. American carmakers have followed Tesla, the ev pioneer, in focusing first on higher-margin premium models rather than evs for the masses. gm and Honda, a Japanese giant, recently dropped their joint $5bn plan to build an affordable ev. Inexpensive and decent-quality Chinese evs from companies such as BYD have turned China into the world’s biggest ev market and are now flooding Europe. They are, however, all but excluded from America by high tariffs and other barriers. All this leaves America’s car industry circling a roundabout. Consumers’ unwillingness to splurge on expensive evs is forcing carmakers to offer steep discounts to shift inventory. Tesla has slashed its prices several times in the past year. Carmakers are offering average discounts of almost 10% on their evs, more than twice as generous as for petrol cars. But this is making it even harder for the companies to make money from battery power. Ford’s electric division is losing about $62,000 for every vehicle it sells, in contrast to a net profit of $2,500 apiece for the company’s petrol cars. Continued losses in turn may temper car firms’ appetite to invest in a broader electric offering that would appeal to buyers." Is America’s EV revolution stalling? https://lnkd.in/eqhQtCYF from TheEconomist (Subscription Required) #evcars #usevs

USA Automotive News 30-07-2024 - Part 3: EV and Fleet News ⚡ 👉 Canoo Announces Commercial Fleet Order from Go2 Delivery - Fleet News Daily: Canoo Inc. has signed a definitive agreement with Go2 Delivery to purchase five fully-electric commercial delivery vans, with the potential to purchase up to 90 more. The electric vans will be used for last-mile healthcare deliveries, aligning with Go2 Delivery's commitment to sustainable logistics. https://lnkd.in/gFcVQ_2Z 👉 How Innovative Is China in the Electric Vehicle and Battery Industries? - Information Technology and Innovation Foundation: The Information Technology and Innovation Foundation explores China's advancements in electric vehicle and battery industries. The report highlights China's innovative strategies and their impact on the global market. https://lnkd.in/gWVWaW3t 👉 US Breaks Wireless EV Charging Record with 270-KW System - Interesting Engineering: The United States has set a new record in wireless EV charging with a 270-kW system. This breakthrough could significantly enhance the convenience and efficiency of charging electric vehicles, promoting wider adoption. https://lnkd.in/gfFKGrZA 👉 Buick Delays First EV Model In The US Market - AutoSpies.com: Buick has announced a delay in the release of its first electric vehicle model in the U.S. market. The delay is attributed to various strategic and production considerations. https://lnkd.in/g5xUsxCC 👉 Hybrids Play Vital Role in Transition Towards a Fully-Electric Fleet- FleetNews: FleetNews reports that hybrid vehicles are crucial in the transition to a fully-electric fleet. Hybrids provide a practical solution for reducing emissions while overcoming current limitations of fully-electric vehicles. https://lnkd.in/gzGcNesj Keep up with Automotive News in just 5 Minutes 💹 Join 10k+ Automotive Professionals for One Daily Email with bite-sized summaries 👉 https://lnkd.in/gerYXFAa #automotive #Dealership #EV #ElectricVehicles #Auto #Media #News #Australia #ANZ #fleet

The FT writes, a combination of still high interest rates and concern over inadequate charging infrastructure has chilled buyers’ enthusiasm for battery EVs, prompting a rebound in sales of hybrid vehicles that most of the industry had long regarded as nothing more than a stop-gap. Tapping the resurgent demand for hybrids is now a priority, execs from General Motors Motors, Nissan, Hyundai, Volkswagen and Ford say. “We have to invest heavily in the future of plug-in hybrids,” said Mark Reuss, the president of General Motors. “We have to be agile. We have a global tool chest of technical things that we can deploy fairly rapidly.” Electric car sales growth slowed so much in the US and Europe last year, prompting carmakers to offer discounts. Industry execs have already acknowledged the market has lost some momentum as future sales growth increasingly depends on demand from mainstream buyers rather than early adopters. At the same time, there are concerns over whether governments might backtrack on previous plans to force a rapid transition away from petrol-based cars. Ford Motor Company’s European boss Martin Sander said that the pace of the transition in Europe was “down to the consumer”, and that its group was prepared to continue selling hybrid models into the next decade. “We want to make sure that we are setting up our business model so that we are flexible enough” to address shifts in demand, Sander told the summit. “Our whole business and life cycle planning is much more dynamic now.” General Motors, which had largely eliminated plug-in hybrids from its range, said in January that it would reintroduce the technology. According to SCHMIDT AUTOMOTIVE INC, Chinese brands like BYD as well as brands such as Polestar that manufacture in China accounted for almost 10 per cent of the fully electric cars registered in western Europe in March. That is up from just over 4 per cent two years ago. The threat from Chinese companies has only heightened carmakers’ focus on hybrids, which typically have double-digit margins compared with often lossmaking fully electric vehicles. For many carmakers, the slower switch is allowing them to continue to squeeze profits from traditional engines while also providing more financial firepower to develop EV technology. #EVs #transportation #mobility 🚘 🔌 👀

China is leading the electric vehicle (#EV) charge ahead of traditional automotive juggernauts such as Germany and Japan. Over half the electric cars on roads worldwide can be found in China, and Chinese EV giant #BYD even sold more EVs than #Tesla in Q4 2023. INSEAD professor Chengyi Lin delves into what Chinese automakers have done differently to get to this point and what other companies looking to scale up their innovations can learn from their approach. #ElectricVehicles #SustainableTransport #Strategy

Europe losing interest in EVs while hybrids gain popularity ◾ According to Data Bridge Market Research , the global hybrid vehicle market is expected to grow in the period from 2022 to 2029. It is believed that the average annual growth rate of the hybrid vehicle market will be 12.83% during this period. In Europe, this figure will be 6.25%. ◾ Citing top executives from General Motors, Nissan, Hyundai, Volkswagen, and Ford, The Financial Times recently noted that due to the declining demand for electric vehicles, well-known car manufacturers are now focusing on hybrid vehicles. ◾ According to the publication, the still weak infrastructure of charging stations and high interest rates on loans have reduced buyer activity regarding fully electric vehicles, revitalizing hybrid vehicle sales. ◾ General Motors, which previously almost excluded plug-in hybrids from its model row, announced in January of this year that it would resume using this technology. Car manufacturers have to adjust their plans amid growing competition from Chinese companies and existing concerns that governments may change the announced plans for transitioning to electric vehicles and abandoning fossil fuel-powered vehicles. ◾ Competition from Chinese companies has only increased the focus of car manufacturers on hybrids, the profitability of which is usually expressed in double digits, while the production of electric vehicles is often associated with losses. As a result, according to the European Automobile Manufacturers' Association (ACEA), in February 2024, the demand for hybrid vehicles has increased by 29%. Against this backdrop, a decline in electric vehicle sales was recorded on Europe's largest market — Germany. ◾ By 2050, Europe aims to achieve climate neutrality. However, the European market has yet to achieve the level of development at which electric vehicles become much cheaper and easier to charge. For this reason, hybrids are still preferred here. ◾ Facing huge costs in reorienting their business towards the production of electric vehicles, high sales of petrol cars, and shareholders demanding profitability, the European automotive industry cannot yet decide whether hybrids are a bridge to a fully electric future or a dead end. As long as the abovementioned problems exist, the current situation works in favour of maintaining hybrids on the market.  The source: News.AZ #energyticslimited #energyefficiency #renewableenergy #hybridcars #evcars