EV Company News For The Month Of September 2021

Tucker Fahlen |


Global electric car sales as of end August 2021

Global electric car sales finished August 2021 with 516,000 sales for the month (third-best month ever), up 114% on August 2020, with a market share of 7.7% for August 2021, and 6.6% YTD.

Note 71% (67% YTD) of all global electric car sales in August 2021 were 100% battery electric vehicles [BEVs], the balance being hybrids.

China electric car sales were a record 286,000 in August 2021, up 186% on August 2020, and 22% higher than the past record month. Electric car market share in China for August was a record 19.0% and 12.4% YTD.

The SAIC-led Wuling JV (SGMW) and BYD lead China plugin sales YTD

Source: CleanTechnica & EV Volumes

Europe electric car sales were ~155,000 in August 2021, up 60% YoY, reaching an amazing 22% market share and 17% YTD. Netherlands reached 30% share, Germany reached 28% share, and France 20% in August 2021. Volkswagen Group (OTCPK:VWAGY) (OTCPK:VLKAF) leads the Europe YTD market share with 25% followed by Stellantis (NYSE:STLA) at 14%.

US electric car sales were not available.

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 below.

Global electric car sales by manufacturer for August 2021

100% EV ("BEV") Brand leaders YTD (Jan-August 2021)

Source: CleanTechnica

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

The chart below aligns with my research that electric car sales will really take off after 2022, when my model forecasts electric and ICE car purchase price parity.


BloombergNEF 2021 forecast for annual electric vehicle sales

Bloomberg forecasts, shown below under the economic transition scenario (no additional policy measures), ~18% by 2025 and 34% by 2030 (70% by 2040). Note the 2030 figure rises to almost 60% under BNEF's net-zero scenario (with incentives, etc. to get to zero emissions by 2050).

Note: My forecasts for new passenger & light commercial electric vehicles sales market share are 25% by end 2025 and 75% by end 2030.

BNEF 2021 forecasts: Passenger vehicle forecast - EVs rising

BNEF: Global EV fleet size forecast growth for each segment

The BNEF 2021 EV report also states:

Average battery pack prices go below $100/kWh on a volume-weighted average basis by 2024, driven by the introduction of new cell chemistries and manufacturing equipment and techniques.

2021 BNEF forecasts the number of EVs added to increase 11x

Source: BloombergNEF’s 2021 New Energy Outlook

EV market news

On September 8, The Globe and Mail reported:

Liberals, Conservatives suddenly agree on the need for EV sales quotas. How will they deliver post election? Canada is suddenly headed toward a national quota for electric vehicle sales...... The Liberals one-upped them when they announced their campaign platform last week, proposing a 50-per-cent target by the same date [2030].

On September 9, CNBC reported:

New York law phases out most gas-powered vehicles by 2035. New York Governor Kathy Hochul signed legislation on Wednesday that resembles California’s, and would effectively ban sales of new, internal combustion engine cars and trucks in the Empire state by 2035. The governor also asked her administration to roll out a new proposal for reducing air pollution from medium- and heavy-duty trucks.....In a blog post announcing the new law on Wednesday, the governor’s office said the moves support New York’s goal of reducing greenhouse gas emissions by 85% by 2050.

On September 11, Reuters reported:

U.S. Democrats propose dramatic expansion of EV tax credits that favors Big Three......The tax credit for up to $12,500 per vehicle for U.S.-made union-made zero emission models compares with a $7,500 incentive for most other electric cars - an amount that has not changed......The bill, however, does away with phasing out automakers' tax credits after they hit 200,000 electric vehicles sold, which would make General Motors Co. (NYSE:GM) and Tesla Inc. (NASDAQ:TSLA) eligible again. It would also create a new smaller credit for used EVs of up to $2,500......the new EV tax credit would cost an estimated $33 billion to $34 billion over a decade......The bill will face opposition in the Senate, which is evenly divided 50-50 between Republicans and Democrats.

On September 12, CNBC reported:

Chinese tech, EV stocks fall on regulatory fears.....Chinese electric vehicle stocks also fell after the country’s industry minister said consolidation in the sector is needed as there are “too many” EV makers in China.

On September 12, Kyodo News reported:

Global EV demand seen growing 11-fold by 2035 in zero-emission shift, eclipsing that of hybrids as soon as next year to become the largest segment among battery-powered automobiles, according to a market research firm.

On September 15, Power technology reported:

Electric vehicle sales surge in 2021. Electric vehicle sales have surged, with growth in all three top auto markets: China, the US, and Europe. Sales increased by 160% in the first half of 2021 from a year earlier, to 2.6 million units.....China remained the world’s top EV market, with 1.1 million vehicles sold in the first half, accounting for 12% of sales. In the US, EVs have been less popular. Only 250,000 units were sold, accounting for 3% of sales. Analysis from IDTechEx has forecast that sales of electric vehicles are on track to surpass five million units this year – counting only passenger cars. “If they do, it will mean an astonishing growth rate of ~86% CAGR since 2011,” the report reads.

Global electric passenger car sales surged 160% higher in H1 2021

Source: Power technology courtesy of Rho Motion

On September 17, CNEVPOST reported:

NIO's William Li expects China's NEV penetration rate to reach 20% next year.......Data released earlier this month by the China Passenger Car Association (CPCA) showed that China's retail penetration of NEVs reached 17.1 percent in August. In the January-August period, the rate was 11.6 percent, a significant increase from the 5.8 percent in 2020..... At the China Auto Chongqing Summit 2021, held June 13 in the southwestern Chinese city of Chongqing, Li said that China could reach 90 percent penetration of smart electric vehicles by 2030.

On September 21, Bloomberg Green released an excellent report:

There’s a fortune to be made in the obscure metals behind clean power. The transition could require as much as $173 trillion in energy supply and infrastructure investment over the next three decades, according to research provider BloombergNEF, and will reverberate from lithium-rich salt flats in Chile to polysilicon plants in China’s Xinjiang region. As electric vehicles supplant gas guzzlers, and solar panels and wind turbines replace coal and oil as the world’s most important energy sources, metals like lithium, cobalt and rare earths are on the brink of rapidly accelerating demand, along with more familiar industrial materials like steel and copper.

Bloomberg primary energy supply by source forecast to 2050 (green scenario)

Bloomberg forecast for key metals needed for lithium-ion batteries

Source: Bloomberg Green

On September 22, Bloomberg Green reported:

Biden doubles climate pledge in test to spur global action. U.S. is now offering $11.4 billion to fight climate change.

EV company news

Tesla Inc.

Tesla is currently ranked the number 1 globally YTD with 13% global market share. Tesla is number 3 in China with 10% market share YTD. Tesla is ranked 4th in Europe with 6% market share YTD. Tesla is still assumed to be the number 1 electric car seller in the US by far.

On September 3, Seeking Alpha reported:

Tesla further delays Cybertruck timeline to late 2022, Roadster delayed until 2023.....The automaker had raised the prices of its vehicles due to the rising cost of parts and raw materials amid recent supply chain pressures.

On September 3, Seeking Alpha reported:

Elon Musk talks $25K Tesla, Cybertruck delay, and 'crazy' deliveries...... Musk tells workers he's hoping to have a $25K car available sometime in 2023. The key, says Musk, is the company having a complete self-driving ready to go, and he suggests the "Model 2" may not come with a steering wheel or pedals.

On September 17, Electrek reported:

Tesla is expected to reach 1.3 million deliveries in 2022.....In a new note, Dan Ives, Wedbush Securities analyst, said that he now expects Tesla to deliver 900,000 vehicles this year and grow to 1.3 million vehicles in 2022.

Note: A March 2021 Torque News report quoted: "Elon Musk in a call with employees said Tesla will produce 1 million cars in 2021."

On September 23, Bloomberg Hyperdrive reported:

Tesla is building a new battery factory in California.....The plan is for a factory expansion to make Megapacks, the energy-storage product Tesla sells to utilities.

On September 26, Teslarati reported:

Tesla Giga Shanghai goes for its final Q3 2021 sprint.....According to local sources, Tesla Giga Shanghai is already producing 1,600 Model Y vehicles per day, a significant increase from last month. In August, Giga Shanghai reportedly started producing 1,000 Model Y units per day, officially exceeding its Model 3 production of 800 units per day.

On September 29, Tesmanian reported:

Tesla Giga Berlin receives preliminary permit for installation of parts of technical systems...... This all brings the manufacturer one step closer to starting production at Giga Berlin. Tesla's applications to install additional parts of the building's technical equipment, as well as to verify the operational reliability of other parts of the system, are still pending.

Investors can read my June 2019 Blog post: "Tesla - A Look At The Positives And The Negatives", where I rated the stock a buy. It was trading at USD 196.80 (post 5:1 stock split is equivalent to USD 39.36). Or my Tesla article on Trend Investing - "Tesla Just Put The Accelerator Down On The EV And Battery Boom."

Wuling Automobile JV (SAIC 51%, GM 44%, Guangxi 5.9%), SAIC Motor Corporation Limited [SAIC] (SAIC includes Roewe, MG, Baojun, Maxus), Beijing Automotive Group Co. (BAIC) (includes Arcfox) [HK:1958) (OTC:BCCMY)

SAIC Group (includes Wuling) is global number 2 with 12% market share. SAIC is number 4 in China (not counting SGMW) with 6% market share. SGMW (SAIC-GM-Wuling Automobile) is number 1 in China with 17% market share year to date.

On September 25, Inside EVs reported:

China: Wuling Hong Guang MINI EV sales exceed 40,000 in August. It might further expand in September to 45,000-50,000 units!

You can read my Trend Investing article: "SAIC Motor Looks To Be A Good Buy Near The 5 Year Low".

Volkswagen Group /Audi (OTCPK:AUDVF)/Lamborghini/Porsche (OTCPK:POAHF)/Skoda/Bentley

'Volkswagen Group' is currently ranked the number 3 top-selling global electric car manufacturer with 11% market share YTD, and 1st in Europe with 25% market share YTD.

On September 3, Bloomberg reported:

Audi’s electric sedan concept heralds fresh bid to counter Tesla.....The Grandsphere design concept marks the first vehicle developed by an engineering task force dubbed Artemis that was set up last year. It’s the precursor to a sedan slated for production in 2025 that will boast an all-new software stack capable of taking over the task of driving from humans under certain conditions.

Audi Grandsphere concept electric car

Source: Audi website

On September 6, Volkswagen reported: "A look ahead to entry-level electric mobility: world premiere of the ID. LIFE." Highlights include:

  • "....The ID. LIFE embodies sustainability, digital technology, timeless design, and an innovative interior.
  • The concept car is consistently focused on users and their needs and provides a glimpse of what urban mobility will look like in the future.
  • Volkswagen is speeding up the transformation to electric mobility with the ACCELERATE strategy: ID. family to be expanded with a new model in the small car segment from 2025 onwards."

Volkswagen ID. LIFE concept car

Source: Volkswagen website

On September 13, Volkswagen reported:

New battery laboratories: Volkswagen takes the next step towards developing and producing own battery cells.

On September 23, Volkswagen reported: "Volkswagen Group China builds battery system factory in Anhui to strengthen BEV value chain." Highlights include:

  • "New Group components plant in Hefei will deliver over 150,000 battery systems a year for Volkswagen Anhui’s all-electric models.
  • VW Anhui Components Company schedules start of production for the second half of 2023.
  • Volkswagen Group China to invest over EUR 140 million in the new plant and its facilities.
  • Volkswagen Group China CEO Stephan Wöllenstein: “With a significant increase of battery-electric vehicles in the years to come, we need to focus on keeping key components like battery systems in our own value chain. Our target is for our Volkswagen Group China fleet to reach over 40% NEVs by 2030....."


BYD is currently ranked the number 4 globally with 7.3% market share YTD. BYD was the global number one selling brand in August achieving 11.8% global share. BYD is ranked number 2 in China with 16% market share YTD.

On September 6, CNBC reported:

Warren Buffett-backed electric carmaker BYD sees August sales surge more than 300%. BYD sold 61,409 new energy vehicles in August, more than four times the amount sold a year ago.

On September 10, BYD reported:

Booming Sales! BYD sold 60,508 New Energy Vehicles in August.....an increase of 331.9% YoY. Four consecutive months of booming sales and a series of monthly sales records underscore BYD's successful strategic deployment and the widespread acceptance of its products in the market.

On September 13, BYD reported:

BYD Launches e-Platform 3.0 with the new concept car Ocean-X unveiled. With outstanding advantages in intelligence, efficiency, safety, and aesthetics, the e-platform 3.0 aims to promote NEVs' performance in safety and low-temperature driving range as well as improving intelligent driving experiences, to build more efficient and safer new intelligent EVs. Therefore, the new-generation BYD e-platform covers vehicles of varying sizes ranging from small to large and will still be open to the industry to facilitate the development of intelligent EVs worldwide.

BYD Ocean-X Concept Car

Source: BYD website

On September 23, BYD reported:

BYD hits major milestone as the 1000th Tang SUV sets sail for Norway. As the world’s leading New Energy Vehicle [NEV] manufacturer and pioneer in battery technology, BYD has recently shipped another batch, this being a further 450 units to fulfil customer demand for its pure-electric Tang SUV. BYD is planning for 1500 Tang SUVs to be delivered to Norway before the end of the year.

The 1000th BYD Tang SUV ready for delivery from Guangzhou Port

Source: BYD website

On September 23, BYD reported: "BYD makes first ever delivery of eBuses in Ancona, Italy."

On September 24, BYD reported: "New Leeds Park & Ride launched with five BYD ADL Enviro400EV electric double deckers."


BMW Group is currently ranked the equal number 5 global electric car manufacturer with ~5% global market share. BMW Group is ranked 3rd in Europe with 11% market share YTD.

On August 6, Bloomberg Hyperdrive reported:

BMW orders up $24 billion of batteries as EV demand grows.... EVs accounted for 11% of the company’s first-half deliveries.....BMW’s increased cell orders are spread across China’s Contemporary Amperex Technology Co. Ltd. and EVE Energy Co., South Korea’s Samsung SDI Co. and Sweden’s Northvolt AB.

On September 2, BMW Group reported: "Revolution, not evolution: BMW Group to reduce carbon footprint significantly by 2030 using innovative materials."

On September 8, BMW Blog reported: "BMW 3 Series and X3 to pave the way for the electric-first platform."

Note: A March 2021 article titled "Neue Klasse: BMW electric architecture is coming from 2025" gave the following details:

The Neue Klasse will be characterized by three key aspects: a completely redefined IT and software architecture, a new generation of high-performance electric drivetrains and batteries and a radically new approach to sustainability across the entire vehicle life cycle.

On September 25, BMW Blog reported: "Update: BMW says no electric range cap on its future electric vehicles."

On September 30, Stuff reported: "Rolls-Royce goes electric with the Spectre......as from 2030, all Rolls-Royces would be electric."

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

Stellantis Group is currently ranked the number 6 in the global electric car manufacturer's sales with ~5% (not updated) global market share. Stellantis is ranked 2nd in Europe with 14% market share YTD.

On September 1, Stellantis N.V. reported:

Stellantis to acquire first investors financial services group as key step to developing a captive financial services business in U.S. Market. [First Investors is] a leading independent auto finance company in the United States of America.

On September 24, Stellantis N.V. reported:

Stellantis and TotalEnergies welcome Mercedes-Benz as a new partner of Automotive Cells Company [ACC] and raise its capacity plan to at least 120 GWh by 2030.

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

Daimler-Mercedes is ranked number 7 globally with 4% (not updated) market share. Daimler-Mercedes is ranked 4th in Europe with 10% market share.

On September 2, Mercedes Blog reported:

Mercedes teases the future EQE electric business saloon. The upcoming business saloon will find its way in the company’s portfolio right beneath the EQS range-topper. The model comes to confirm the CEO’s Ola Kallenius statement saying that every model range will include an electric variant by 2025.

On September 5, Mercedes Blog reported: "Mercedes-Maybach EQS is a luxury SUV and the first fully electric Maybach."

Mercedes-Maybach EQS

Source: Mercedes Blog

On September 25, Bloomberg Hyperdrive reported:

Mercedes-Benz plans $8.2 Billion European battery venture. Luxury-car maker buys 33% stake European cell venture. ACC is open for more partners to join battery consortium.

On September 26, Mercedes Blog reported:

Mercedes invest almost 1 billion euros in ACC Stellantis-TotalEnergies joint venture.....For this purpose, Mercedes needs a production capacity of more than 200 GWh. ACC plans to invest more than 7 billion euros by the end of this decade to reach an installed capacity of 120 GWh.

Geely Automobile Holdings Ltd (OTCPK:GELYY, HK:0175), Volvo Cars, Polestar, Kandi Technologies Group (NASDAQ:KNDI), Proton, Lotus, Polestar via SPAC Gores Guggenheim Inc. (GGPI)

Volvo is currently ranked the number 8 in the global electric car manufacturer's sales ranking with 3.5% (not updated) global market share.

On September 6, Geely Automobile Holdings Ltd. reported:

Geely Automobile Holdings Limited total sales volume for August 2021 was 88,348 units total sales volume down 22% yoy.....Of the total sales volume in August 2021, 8,201 units were new energy and electrified vehicles*, an increase of around 24% from the same period last year.

On September 23, Volvo Cars reported: "Volvo Cars to go leather-free in all pure electric cars as part of animal welfare ambitions."

On September 28, Reuters reported:

EV maker Polestar strikes $20-bln deal with Gores Guggenheim SPAC......The deal with Gores Guggenheim will provide Polestar cash proceeds of over $1 billion, including $800 million from the special purpose acquisition company [SPAC], and a PIPE, or private investment in public equity, of $250 million from institutional investors.......Polestar, founded in 2017 by Volvo Car Group and China's Zhejiang Geely Holding, also counts Hollywood actor Leonardo DiCaprio among its investors..... The premium EV maker's offering includes two models: a hybrid car known as Polestar 1 and a fully electric Polestar 2. It previously said it has another model in development called the Precept, which is a larger sedan. Polestar delivered about 10,000 vehicles globally last year and expects to sell about 290,000 vehicles per year by 2025. It predicts it will rake in $1.6 billion in revenue this year and double that number next year.

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

Hyundai is currently ranked number 11 in the global electric car manufacturer's sales ranking. Kia is ranked number 10. Both have ~2% market share each.

On September 1, Hyundai reported:

Hyundai Motor America reports August 2021 sales. Hyundai Motor America reported total August sales of 56,200 units, a 4% decrease compared with August 2020. Hyundai total car sales increased 8%, led by Sonata (+4%), Elantra (+20%) and Ioniq (+21%), while eco-friendly vehicles rose by 245%. Hyundai also set new August total sales records for Venue, Ioniq EV, Ioniq PHEV, Kona EV and Nexo.

On September 8, The Driven reported: "Hyundai shows off Ioniq 6, targets 100% electric sales in Europe by 2035."

Hyundai Ioniq 6 will be based off the Prophecy concept car shown below

Source: Hyundai website

On September 22, Hyundai reported: "Hyundai Motor, Genesis receive prestigious honors at 2021 IDEA International Design Excellence Awards." Highlights include:

  • "Hyundai IONIQ 5 wins the highest-level accolade, the Gold Award, in the Automotive and Transportation category...."

Hyundai Ioniq 5

Source: Hyundai website

On September 27, Hyundai reported: "Hyundai Motor to provide zero-emission mobility during All4Climate – Italy 2021 event."

On September 28, Hyundai reported: "Hyundai Motor Group starts '2021 EV Open Innovation Challenge' for charging infrastructure and service solutions."


Renault is currently ranked the number 12 in the global electric car manufacturer's sales ranking with about 2.0% market share.

On September 3, Nissan Motor Corporation reported:

Nissan and Waseda University in Japan testing jointly developed recycling process for electrified vehicle motors. New process efficiently recovers high-purity rare-earth compounds from motor magnets, practical application targeted for mid-2020s toward carbon neutral goal....

On September 29, Nissan Motor Corporation reported:

Nissan unveils e-POWER on Sylphy in China. “e-POWER is designed to bring a whole new driving experience to customers in China in their pursuit for high-quality mobility in the era of electrification.”

Source: Nissan Motor Corporation website

Toyota (NYSE:TM)/Lexus

Toyota is currently ranked number 13 in the global electric car manufacturer's sales ranking with ~2% (not updated) market share.

On September 7, Seeking Alpha reported:

Toyota looks to charge into electric vehicle battery market with eyes on solid-state. Toyota Motor Corporation says it expects to spend more than $13.5B by 2030 to develop batteries and a battery supply system as it looks to offer all-electric versions across its model lineup next year. With the huge investment, the Japanese automaker aims to reduce the cost of its batteries by 30% or more by working on the materials used and also improve power consumption.


On September 10, Great Wall Motor reported:

GWM unveils its new cars at IAA Mobility 2021 to seize the New Energy Market in Europe with first-mover advantage.....GWM exhibited its new energy models such as WEY Coffee 01 PHEV and ORA 01CAT.

Great Wall Motor ORA CAT electric car to take on Europe

Source: Great Wall Motor website

Ford (NYSE:F)

Ford is currently ranked number 16 in the global electric car manufacturer's sales ranking with ~2% market share.

On September 24, Fastmarkets reported: "Ford in closed-loop EV battery recycling JV with Redwood Materials...."

On September 27, CNBC reported:

Ford and SK Innovation to spend $11 billion, create 11,000 jobs on new U.S. EV and battery plants.....Ford is building twin lithium-ion battery plants in central Kentucky.....The campus will include another a battery plant built with SK along with a supplier park, recycling center and a new assembly plant for electric F-Series trucks..... Production at the plants, aside from one of the battery plants in Kentucky, is expected to begin in 2025, the company said. The second battery plant in Kentucky is expected to come online in 2026, according to Ford.

NIO Inc. (NIO)

On September 1, NIO Inc. reported: "NIO Inc. provides August 2021 delivery update and prudently adjusts third quarter guidance." Highlights include:

  • "NIO delivered 5,880 vehicles in August 2021, increasing by 48.3% year-over-year.
  • NIO prudently adjusts the delivery outlook to the range of 22,500 to 23,500 vehicles in the third quarter of 2021, due to supply chain constraints.
  • Cumulative deliveries of the ES8, ES6, and EC6 as of August 31, 2021 reached 131,408."

On September 7, NIO Inc. reported:

NIO Inc. announces At-The-Market Offering of American Depositary Shares.....up to an aggregate of US$2,000,000,000 of its American depositary shares (“ADSs”).....

XPeng Inc. (Xiaopeng Motors) (XPEV)

On September 1, XPeng Inc. reported: "XPeng announces vehicle delivery results for August 2021." Highlights include:

  • "7,214 vehicles delivered in August 2021, a 172% increase year-over-year.
  • 6,165 P7s delivered in August 2021, a record month and a 209% increase year-over-year.
  • 45,992 total vehicles delivered year-to-date, a 334% increase year-over-year."

On September 10, XPeng Inc. reported:

XPeng P5 Smart Family EV Sedan to launch on 15 September. Pre-sale of P5, the world's first mass-produced LiDAR-equipped smart car, kicked off in mid-July at a price range from RMB160,000 to 230,000 post subsidies. Pre-sale has already received enthusiastic responses from customers in China.

XPeng P5 Smart Family EV Sedan

Source: XPeng Inc. website

You can read my Trend Investing article on XPeng Motors here.

Li Auto (LI)

On September 1, Li Auto reported:

Li Auto Inc. August 2021 delivery update. Li Auto Inc., an innovator in China’s new energy vehicle market, today announced that the Company delivered 9,433 Li ONEs in August 2021, increasing 248.0% year over year and 9.8% month over month, breaking the Company’s monthly delivery record again. Total deliveries in the first eight months of 2021 and cumulative deliveries of Li ONEs reached 48,176 and 81,773 respectively. As of August 31, 2021, the Company had 114 retail stores in 69 cities, as well as 194 servicing centers and Li Auto-authorized body and paint shops operating in 143 cities.

On September 20, Li Auto reported:

Li Auto Inc. updates third quarter delivery outlook. Due to the COVID-19 pandemic in Malaysia, the production of chips dedicated for the Company’s millimeter-wave radar supplier has been severely hampered. As the recovery of the chip supply has been slower than expected, the Company now expects its vehicle deliveries to be approximately 24,500 vehicles for the third quarter of 2021, revised from the previous outlook of vehicle deliveries between 25,000 and 26,000 units.....

General Motors/Chevrolet (NYSE:GM)

On September 18, Electrek reported:

Cadillac Lyriq sells out in 19 minutes – automakers still underestimate EV demand. Cadillac opened reservations for their upcoming 2023 Lyriq electric vehicle at 1 p.m. today, and, in a completely unsurprising turn for our readers, the car sold out almost immediately. By 1:19 p.m., Cadillac stated that all 2023 Lyriq “Debut Edition” vehicles had been reserved. Other 2023 model year Lyriq trim levels will still be available, but so far, Debut Edition reservations are the only ones that have opened (and 19 minutes later, closed).

On September 20, General Motors reported: "Chevrolet Bolt EV battery production resumes." Highlights include:

  • "LG battery cell and module production resume with updated manufacturing processes.
  • Battery module replacements to begin in October.
  • GM to introduce new advanced diagnostics software."

On September 21, General Motors reported:

GM reveals all-new EV motors to power an all-electric future. Motors designed and developed in-house with GM propulsion software....

On September 28, General Motors reported:

BrightDrop completes record-setting build of its first electric light commercial vehicle; Unveils new vehicle and inks deal with Verizon.

Tata Motors (TTM) group (Jaguar, Land Rover)

On September 15, Tata Motors reported: "Tata Motors announces commercial launch of the ‘XPRES T EV’ for fleet customers with FAME subsidy pricing."

The new XPRES-T Electric Sedan range pricing starts at Rs. 9.54 lakhs

Source: Tata Motors website

On September 24, Tata Motors reported: "Tata Motors celebrates 10,000 EV customers."

GreenPower Motor Company Inc. (GP)

GreenPower is headquartered in Vancouver, British Columbia, with primary manufacturing and fleet operations in Porterville, California. Electric bus and commercial vehicle sales are just beginning to ramp from low levels. In Feb. 2021, Berkshire Hathaway (NYSE:BRK.B) (NYSE:BRK.A) company (Forest River) made a purchase agreement for up to 150 GreenPower EV Star Cab and Chassis.

On September 13, GreenPower Motor Company Inc. reported:

GreenPower announces first delivery of all-electric BEAST School Bus to Santa Maria Joint Union High School District.

On September 23, GreenPower Motor Company Inc. reported: "GreenPower delivers 10 all-electric cab and Chassis to WeShip."

Investors can also read my Trend Investing article on GreenPower here.

Workhorse Group Inc. (WKHS)

On September 15, Workhorse Group Inc. reported: "Workhorse Group announces withdrawal of USPS Bid Protest."

On September 22, Workhorse Group Inc. reported:

Workhorse Group provides update on review of operating and commercialization plans. “Our new leadership team is taking decisive and necessary actions as we conduct our comprehensive operational review of the business,” said Workhorse CEO Rick Dauch. “We have identified a number of opportunities to improve our C-1000 series vehicles and are committed to getting these previously delivered vehicles back on the road. Importantly, we remain on track to communicate our new, long-term strategic roadmap to enhance our trucks and operational capabilities on our third quarter earnings call.....

Rivian Automotive (RIVN) (private)

On September 14, Seeking Alpha reported:

Rivian wins the electric pickup truck race as first vehicle rolls off Illinois assembly line. Rivian becomes the first automaker to produce an electric pickup truck, beating out Tesla, Ford, and General Motors after multiple delays. The cofounder and CEO of Rivian, RJ Scaringe, tweeted out a picture Tuesday afternoon of the company's first customer vehicle driving off the assembly line at Rivian's Illinois plant.

Rivian's first customer electric pickup truck rolls off the Illinois assembly line

Source: Twitter post by Rivian CEO and Founder R J Scaringe

On October 1, Seeking Alpha reported:

EV maker Rivian files for initial public offering..... the company - backed by Amazon.com and Ford Motor - is looking to raise up to $8 billion, which would mean a valuation of $80 billion, Reuters reported.

Lucid Group (LCID)

On September 14, Seeking Alpha reported:

Lucid Group falls off after Morgan Stanley warns on only 'modest' market share. Morgan Stanley assigns a price target of $12 to LCID to rep ~40% downside potential.

On September 16, Lucid reported:

Lucid Air officially EPA-rated at 520 miles of range. Lucid Air Dream Edition R is the longest-range electric vehicle ever rated by the EPA; Lucid Air Dream Edition P and Lucid Air Grand Touring also achieve EPA ranges far beyond any other EV.

Lucid Air EPA range of 520 miles (~836 kms)


Source: Lucid

On September 28, Seeking Alpha reported:

Lucid rolls first EV off assembly line, will begin deliveries in late October. Lucid Group drove its first customer-quality Lucid Air electric sedans off the assembly line today at its AMP-1 factory in Arizona. The company expects customer deliveries for the most expensive Dream edition to begin in late October and ramp up thereafter. There are over 13,000 reservations for the Lucid Air which starts at $77,400 and has a maximum range of 520 miles, over 100 miles more than its closest competitor. Lucid has increased planned production of the initial Dream edition to 520 vehicles because of the demand.

On September 28, Lucid reported: "Lucid starts production of the groundbreaking Lucid Air in Arizona; Customer deliveries to begin in October."

Near-term potential EV producing companies

Lordstown Motors (RIDE)

On September 30, Lordstown Motors reported:

Lordstown Motors and Hon Hai Technology Group announce agreement in principle. The Agreement provides as follows:

  • "Lordstown Motors and Foxconn will use commercially reasonable best efforts to negotiate a definitive agreement pursuant to which Foxconn would purchase the Lordstown facility, excluding Lordstown Motors’ hub motor assembly line, battery module and packing line assets, certain intellectual property rights and other excluded assets, for $230 million.
  • Both entities would also negotiate a contract manufacturing agreement, which would be a condition to closing the facility purchase, whereby Foxconn would manufacture Lordstown Motors’ Endurance full-size pickup truck at its Lordstown facility. Lordstown Motors would also agree to provide Foxconn with certain rights with respect to future vehicle programs.
  • Concurrently, with the closing under the definitive agreements, Lordstown Motors would issue warrants to Foxconn that are exercisable until the third anniversary of the closing for 1.7 million shares of common stock at an exercise price of $10.50 per share.
  • The parties have agreed to explore licensing arrangements for additional pickup truck programs.
  • Following the closing under the definitive agreements, Lordstown Motors would enter into a long-term lease for a portion of the existing facility for its Ohio-based employees, and Foxconn would offer employment to agreed upon Lordstown operational and manufacturing employees."

Faraday Future Intelligent Electric Inc. (FFIE)

On September 7, Faraday Future reported: "Faraday Future [FF] announces Eco-O2O direct sales strategy and confirms active search for permanent locations of its first two flagship stores in the United States."

On September 20, Faraday Future reported: "Faraday Future hosts 919 Futurist Day Co-Creation Celebration and announces new business initiatives as well as positive progress on FF 91 production and vehicle delivery." Highlights include:

  • "919 Futurist event participants gathered on Sunday to celebrate co-creation activities, exotic cars, and a toy drive with support from the Purist Group
  • FF held a special business update on September 19th where FF leadership announced FF 91 production and delivery updates, significant progress made in the areas of product capability enhancement, product testing, supply chain, manufacturing, sales, and new talent recruitment
  • FF announced technology partnership with Geely Holdings whereby both parties have made substantial progress and completed the phase one technology cooperation and the planning for development of FF China business
  • FF announced a formal partnership with Palantir (NYSE:PLTR) to accelerate FF’s mission to transform vehicle mobility and to leverage Palantir Foundry to develop disruptive products and services for the U.S. and EU."

Arrival (ARVL)

On September 15, Arrival reported:

Arrival to expand presence in Europe. Arrival, pioneer of a unique new method of design and production of affordable electric vehicles [EVs] by local Microfactories, today reveals its best-in-class Van has arrived in Amsterdam, Netherlands. Presenting the van to key audiences, the Arrival European Roadshow will allow the public to see the distinctive and innovative van when it visits fifteen European cities between September 2021 and March 2022. Arrival is expanding its presence across Europe and is taking the Arrival Van to nine countries in four months including Germany, France, Italy, Spain, Portugal, Switzerland, Norway, Netherlands, and Sweden.

Hyliion Holdings (HYLN)

No news for the month.

Fisker Inc. (FSR)

No significant news for the month.

You can read my Trend Investing article on Fisker Inc. here.

Lion Electric (LEV)

On September 3, Lion Electric reported: "Lion Electric trucks hit the road with Day & Ross in NACFE run on less – electric."

On September 3, Lion Electric reported: "Lion Electric highlights the benefits of Zero-Emission Vehicles at its Flagship Experience Centre in Terrebonne, Quebec."

Nikola Corporation (NKLA)

On September 1, Nikola Corporation reported: "Nikola expands sales and service coverage in Southern California."

On September 2, Nikola Corporation reported: "Nikola announces strategic agreements with Bosch for Fuel-Cell Manufacturing."

On September 15, Nikola Corporation reported: "IVECO and Nikola inaugurate joint-venture manufacturing facility for electric heavy-duty trucks in Ulm, Germany."

On September 27, Nikola Corporation reported: "Nikola executes second purchase agreement with Tumim Stone Capital, bringing the total to $600 million."

Canoo Inc. (GOEV)

No news for the month.

Proterra (PTRA)/ArcLight Clean Transition Corp.

On September 28, Proterra reported: "Proterra selected by Capital Metro in one of the largest electric transit bus procurements in North America." Highlights include:

  • "Capital Metro to acquire 26 Proterra ZX5 Max electric transit buses.
  • Contract contains options for Capital Metro to purchase up to 126 additional 40-foot electric buses and EV charging over five years."

Mahindra & Mahindra (OTC:MAHDY)

On September 29, Bloomberg Hyperdrive reported: "Mahindra is said to weigh electric supercar unit funding options."

Byton (private)

On September 15, Nikkei Asia reported:

Apple supplier Foxconn's EV project with China's Byton halted. Taiwanese company turns focus elsewhere as Chinese startup hits financial snag.

EV fleet purchasing & financing

Ideanomics Inc. (IDEX)

On September 13, Ideanomics Inc. reported: "Ideanomics Mobility subsidiaries continue business growth in September 2021."

On September 15, Ideanomics Inc. reported: "Ideanomics to increase stake in Italian electric motorcycle maker Energica Motor Company (OTC:EICAF)."

On September 20, Ideanomics Inc. reported: "Ideanomics to fuel growth of Energica Motor Company's Electric Motorcycle Dealer Network in U.S."

On September 22, Ideanomics Inc. reported: "WAVE by Ideanomics and AVTA finalize a follow-on purchase order of 28 additional wireless chargers."

On September 28, Ideanomics Inc. reported: "Ideanomics subsidiary WAVE to collaborate with Kenworth on 1-megawatt wireless charging pads."

Three-wheel EV companies

Arcimoto Inc. (FUV)

No news for the month.

You can read my Arcimoto Trend Investing article here, and my CEO interview here.

Electrameccanica Vehicles Corp. (SOLO)

On September 15, Electrameccanica Vehicles Corp. reported:

ElectraMeccanica to launch customer deliveries of Flagship SOLO EV. The Company will officially begin delivering keys to customers at a special launch event scheduled for October 4th in Los Angeles with a select group of early reservation holders along with the company’s first fleet owners. Deliveries to other reservation holders and customers will steadily increase as production continues to ramp.....

Electric Vehicle ETFs

  • The Amplify Lithium & Battery Technology ETF (BATT) is a broad-based EV-related fund worth considering. It is currently trading on a PE of 25.5. On their website they state: "BATT is a portfolio of companies generating significant revenue from the development, production and use of lithium battery technology, including: 1) battery storage solutions, 2) battery metals & materials, and 3) electric vehicles.

To read more about the electric vehicle ETFs, you can read my Trend Investing article "A Look At 6 ETFs That Cover The Electric Vehicles Trend."

Other EV or EV-related companies

Other EV companies I am following include ADOMANI Inc. (OTCQB:ADOM), Atlis Motors, Ayro, Inc. (AYRO), Blue Bird Corporation (BLBD), Blink Charging (BLNK), Byton (private), China Evergrande New Energy Vehicle Group (OTCPK:EVGRF) , Chery Automobile Co. Ltd. (private), DiDi Chuxing (NYSE:DIDI), Dyson (private), Evergrande, Guangzhou Automobile Group Co. (OTCPK:GNZUF) (OTCPK:GNZUY), Honda (HMC(OTCPK:HNDAF), Mazda (OTCPK:MZDAY), Niu Technologies (NIU), Qiantu Motor, Subaru (OTCPK:FUJHY) (OTCPK:FUJHF), Suzuki Motor Corp. (OTCPK:SZKMY) (OTCPK:SZKMF), Tata Motors group (Jaguar, Land Rover), WM Motor, and Zhi Dou (private).

The list of countries and cities banning (or planning to ban) petrol and diesel vehicles include at least:

  • Norway (2025), UK (2030), Netherlands (2030), Denmark (2030), Germany (2030), Sweden (2030), Iceland (2030), Hong Kong (2030-40), Ireland (2030), Israel (2030), Scotland (2032), Europe (2030), Japan (2035), Canada (2035), France (2040), Spain (2040), Egypt (2040), Taiwan (2040), Singapore (2040).
  • Rome (2024); Athens, Paris, London, Stuttgart, Mexico City, Madrid (2025); Amsterdam, Brussels, Hainan (2030); California, New York, Quebec Province (2035).

Note: Wikipedia has an excellent list showing the phase-out of fossil fuels in various cities and countries.

Autonomous Driving/Connectivity/Onboard entertainment/Ride sharing [TaaS]/EV leasing/renting

On September 15, CNBC reported: "Walmart (NYSE:WMT) to test self-driving cars in multiple cities with Ford and Argo AI."

On September 23, General Motors reported: "GM Invests $300 million in Momenta to deliver next-generation self-driving technologies in China."

On September 25 CNBC reported: "Tesla drivers can now request Full Self-Driving Beta with the press of a button, despite safety concerns."

BNEF 2020 forecasts by fleet type

Source: Bloomberg New Energy Finance [BNEF] 2020 EV report


August 2021 global electric car sales were up 114% YoY and reached 7.7% global market share; 19.0% share in China, 22% in Europe, and no figures for the USA.

Highlights for the month were:

  • Canada is suddenly headed toward a national quota for EV sales.
  • New York law phases out most gas-powered vehicles by 2035.
  • Global electric passenger car sales surged 160% higher YoY in H1 2021 to 2.6 million units led by China and Europe. On track to surpass five million units this year. If they do, it will mean an astonishing growth rate of ~86% CAGR since 2011.
  • U.S. Democrats propose dramatic expansion of EV tax credits that favors Big Three.
  • NIO's William Li expects China's NEV penetration rate to reach 20% next year.
  • Tesla further delays Cybertruck timeline to late 2022, Roadster delayed until 2023. Musk hoping to have a $25K car available sometime in 2023. Tesla is building a new battery factory in California to make Megapacks.
  • Booming Sales! BYD sold 60,508 NEVs in August, up 331% YoY. BYD Launches e-Platform 3.0.
  • BMW orders up $24 billion of batteries as EV demand grows. Rolls-Royce goes electric with the Spectre. All Rolls-Royces to be electric from 2030.
  • Mercedes invest almost 1 billion euros in ACC Stellantis-TotalEnergies (NYSE:TTE) joint venture.
  • EV maker Polestar strikes $20b deal with Gores Guggenheim SPAC.
  • Hyundai's August total global car sales increased 8%, while eco-friendly vehicles rose by 245%. Targets 100% electric sales in Europe by 2035.
  • Ford and SK Innovation to spend $11 billion, create 11,000 jobs on new U.S. EV and battery plants, by 2025 and 2026.
  • NIO delivered 5,880 vehicles in August 2021, cuts back forecast due to supply constraints.
  • XPeng delivered 7,214 vehicles in August 2021, launches P5 Smart Family EV Sedan.
  • Li Auto delivered 9,433 Li ONEs in August 2021.
  • GM Cadillac 2023 'Debut Edition' Lyriq sells out in 19 minutes – automakers still underestimate EV demand. GM says Chevy Bolt EV battery production has resumed, defect leading to fire risk is fixed.
  • Toyota expects to spend >$13.5B by 2030 to develop batteries and a battery supply system as it looks to offer all-electric versions across its model lineup next year.
  • Rivian wins the electric pickup truck race with first customer delivery of an electric pickup truck in the USA. Rivian files for an IPO.
  • Lucid rolls first EV off assembly line, will begin deliveries in late October.
  • Lordstown Motors and Hon Hai Technology Group (Foxconn) announce agreement in principle.
  • Proterra - Capital Metro to acquire 26 Proterra ZX5 Max electric transit buses, option for up to 126 more over 5 years.
  • Electrameccanica to launch customer deliveries of Flagship SOLO EV.

Content in this material is for general information only and is not a recommendation to buy or sell any security mentioned herein. Past performance does not guarantee future results. To determine which investment is appropriate for you, please consult your financial professional prior to investing. Investing involves risk including loss of principal. No strategy assures success or protects against loss.