Plus, stay tuned because later in the show I’ll tell you which Japanese car maker is the latest to adopt the Tesla NACS plug
But first…
Battery-Powered Cars Claim 20% of California’s Sales
– Battery-operated cars represent 1 in 5 vehicle sales in California, recent registration statistics reveal.
– From January to September 2023, electric vehicles (EVs) made up 21.5% of total car sales in the state.
– This rate has seen a surge, doubling in just the past two years.
EVs Dominate Sweden’s October Sales; Volkswagen ID.4 Shines
– In October, plug-in EVs constituted 60.6% of car sales in Sweden. EV sales increased by 14% during this period.
– The Volkswagen ID.4 emerged as the top-selling EV for October. There was a modest rise in PHEV sales volume at 7% year-on-year, lagging behind the broader auto market growth primarily driven by BEVs.
– Due to monthly logistical issues affecting 2023’s leading EV, the Tesla Model Y, Volkswagen’s ID.4 took the limelight with sales of 994 units. Interesting that the Model Y being made in Berlin doesn’t always smooth out that see saw effect from the cars coming in from China like the Model 3.
BYD Nears Tesla in EV Sales with Stellar Month
– BYD registered record sales for battery-electric and plug-in hybrid vehicles, closing the gap with Tesla in terms of quarterly pure-EV sales. In October, BYD sold 301,095 full-electric and plug-in hybrid passenger vehicles, marking a 38% year-on-year increase.
– BYD’s full-electric car sales for the month stand at 165,505 units. If BYD maintains an average sale of 158,642 units over three months, they could rival Tesla’s quarterly sales, impacting Tesla’s 1.8 million annual sales as being the global leader in EVs.
– BYD is on its path to achieve its annual sales goal of 3 million plug-in hybrids and EVs, with the October figures pushing their year-to-date sales to 2.37 million. BYD indicates a pricing strategy shift, announcing price reductions for some models, including their best-selling ones, for November. The company posted a record third-quarter profit of 10.4 billion yuan ($1.4 billion), surpassing expectations. Worth remembering the average transaction price of a BYD, which I don’t know, is likely far lower than Tesla.
Volvo Teases EM90 Minivan’s Luxe Interior Ahead of Launch
– Volvo unveils a sneak peek of the EM90’s interior, coined as the “Scandinavian living room.”
– A while back, the exterior design of the Volvo EM90 was leaked online. The EM90’s design bears resemblances to the ZEEKR 009, and both vehicles share several design elements. Volvo’s upcoming electric minivan is built on the Geely’s SEA platform, the same foundation as the Polestar 4.
– The minivan is powered by a 272 hp rear electric motor, and a four-wheel drive variant seems probable. ZEEKR’s 009 comes with a 116 kWh battery pack that offers around 436 miles (700 km) CLTC range or choose the 140 kWh variant that boasts a range of up to 510 miles (822 km).
– Volvo says EM90 has the roomiest and most adaptable interior they’ve ever created. The interior boasts a luxurious 6-seat arrangement, ensuring individual space and comfort for all passengers. Some of the deluxe features include massaging seats, personal heating and ventilation, and integrated tables and cupholders. The minivan also showcases zero-gravity cushions on the second-row lounge seats. The EM90 is scheduled for its official unveiling on November 12, and the same day will see the commencement of pre-orders in China.
Tesla Joins New IRS EV Tax Credit Portal
– The U.S. Department of the Treasury and IRS have started registering car dealers for the IRS Energy Credits Online portal, with Tesla among them. This portal is dedicated to the Electric Vehicle point of sale rebate.
– Starting January 1, 2024, consumers can redirect their new clean vehicle credits, which can go up to $7,500. The online platform aims to revolutionize how car dealerships handle the electric vehicle tax credit. Dealers can promptly register sales details of qualifying green vehicles, making the verification of consumer tax credit eligibility (up to $7,500) more efficient, as outlined in the Internal Revenue Code Section 30D.
-This all-digital system is designed to speed up dealer payments and embed essential program integrity checks during dealer registration and sales report submissions. Research indicates a preference among consumers for the “point of sale” rebate, citing the immediate benefit versus the prolonged wait linked with standard tax returns. After a dealer enters the time-of-sale details into the portal, the IRS is set to issue a tax credit advance payment within a 72-hour window.
– Mike Stanton, NADA’s President and CEO, lauds the portal, calling it “a significant and positive step toward enabling dealers to offer clean vehicle tax credits to consumers at the point of sale.” He also stressed the commitment of franchised auto and truck dealers to gear up for vehicle electrification and champion the uptake of zero-emission vehicles.
Volkswagen Passes on Czech Gigafactory Due to Low EV Battery Demand
– Volkswagen decides against establishing additional European gigafactories for EV batteries. CEO Oliver Blume cites the slower progression of the EV market in Europe as the primary reason for not pursuing more factories in the region.
– Despite the Czech Republic’s offer, Blume mentioned that there’s currently no commercial incentive to select extra European sites. Volkswagen and PowerCo have already pinpointed three locations for battery cell production: Salzgitter in Germany, Valencia in Spain, and St. Thomas in Canada.
– The combined production capacity of these three locations is estimated at 200 GWh annually. The Czech Republic proposed a site located in the western part of the country for Volkswagen. Electromobility investments are vital for the Czech Republic since the automotive sector makes up about 10% of the nation’s GDP and directly provides jobs for over 180,000 individuals.
Stellantis Teams with Leapmotor for Budget EVs in Europe
Stellantis announced its intention to unveil affordable battery-electric vehicles (BEVs) in Europe through a partnership with Leapmotor by the end of the upcoming year. This collaboration comes on the heels of Stellantis acquiring a stake in Leapmotor, a Chinese EV manufacturer. Stellantis now offers an additional brand directed towards budget-conscious consumers. The company’s CFO, Natalie Knight, highlighted this by labeling Leapmotor as the “15th brand” under the Stellantis umbrella. Leapmotor International, registered in the Netherlands, will be dedicated to distributing Leapmotor’s models outside China.
The joint venture also opens up the possibility of manufacturing Leapmotor vehicles within Europe. This move could be especially crucial if the European Union chooses to impose high tariffs on cars made in China, as pointed out by Knight in yesterdays Q3 results conference. The company also registered a 37% increase in global BEV sales during Q3, a surge credited to models like the Jeep Avenger BEV SUV and the Citroen e-Berlingo.
They are on track to exceed 300,000 global BEV sales this year, Here in Europe they outsold Tesla. While Tesla slipped to the third spot, the VW Group maintains its leadership position. In preparation for the future, Stellantis is all set to introduce the Citroën ë-C3, an economical EV equipped with a 44kWh battery, promising a range of roughly 320 km. This model comes with a competitive price tag starting at €23,300. ] Stellantis recently inaugurated a state-of-the-art Battery Technology Center situated at the Mirafiori complex in Turin, Italy.
World’s Largest EV Charging Station Opens in Merklingen
– A massive EV charging park has been inaugurated at the “Park-and-Ride-Platz” located at the Merklingen railway station. The facility can accommodate and charge 259 electric vehicles simultaneously, a capacity touted as the largest globally by the operators.
– Power for the charging station is sourced from a solar panel setup built like a massive carport over the parking spaces. Any excess electricity produced is fed back into the power grid.
– Local residents can charge their EVs at this location and then commute via train to either Ulm or Stuttgart on a new railway line. The EV charging park project, costing over five million euros, was funded with state grants.
Subaru Joins Hands with Tesla for North American Charging
– Subaru Corporation has partnered with Tesla, Inc. to implement the North American Charging Standard (NACS) for Subaru’s future battery electric vehicles (BEVs) in North America from 2025.
– Subaru will offer adapters to facilitate NACS charging starting in 2025. This will be for Subaru BEVs with the Combined Charging System (CCS).
– Owners of NACS-compatible Subaru BEVs will benefit from increased charging options, with access to over 15,000 Tesla Superchargers spread throughout North America.
Freightliner Kickstarts eM2 Production in Portland
– Freightliner kicked off serial production of its eM2 medium-duty battery-electric truck at the Daimler Truck North America’s plant located in Portland, Oregon. The eM2 is tailored for pickup and delivery roles.
– Two eM2 configurations are available: Class 6 single-motor model boasting up to 190 continuous horsepower, powered by a 194-kWh battery, and an average range of 180 miles on a full charge.
– Class 7 dual-motor variant offering up to 255 continuous horsepower, utilizing a 291-kWh battery, and averaging 250 miles on one charge.
Prior to its official production, the eM2 covered over 1.5 million miles in testing, operating with nearly 50 different fleets across the West Coast, New Jersey, and Canada.
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