Top 5 Electric Vehicle News Stories of Week 24 2017
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TOP EV NEWS #1 – NEW EVs ANNOUNCED
This week saw the announcement of four new EV models by Audi, DS Auto, Tata Motors and Hyundai. The four brands will release electrified versions of existing model ranges as they rush to enter the market.
Audi announced its intentions to launch an electrified version of the Q2 SUV for the Chinese market. The Q2 will compete with the BMW Brilliance X1 which is also specifically produced for the Chinese EV market.
PSA Group’s luxury brand DS announced that it will release an all-electric vehicle or PHEV every year from 2019 starting with the DS7 Crossback. In other news, PSA Group and Changan deepened their relationship in China with the intent to jointly develop electric vehicles in a similar fashion as the VW JAC JV announced earlier this month.
Tata Motors will enter the India market with an electric version of the Tata Tiago hatchback. The Tiago will be Tata’s first production EV. In 2015 the market speculated that the Indian company was to bring the Tata Megapixel to market in 2016 as its first EV but market conditions did not favor EVs at the time. The Indian Government has since embarked on a drive to change to 100% EV in 2030.
Hyundai revealed its latest EV, an electric version of the Hyundai Kona SUV. The car is expected to reach the market late 2018 and will be unveiled at the Frankfort Auto Show in September 2017. Although no specifics has been revealed the Kona is expected to have a range of 217 miles from a 50kWh battery and will be priced below $40,000. In related news, the Korean company announced that it will increase production of the popular Hyundai Ioniq with 50%.
Honda announced that it will release the Honda Clarity Electric in Oregon and California later this year on a three-year lease for $269 per month.
TOP EV NEWS #2 – TESLA TALKS TO ENTER INDIA PROGRESSING
Tesla, now the 4th largest automaker in the world by market cap, has been in talks with the Indian Government to establish production facilities in the Asian country. Tesla CEO Elon Musk provided further incites in the company’s plans for entering the potential growth market by tweeting “In discussions with the government of India requesting temporary relief on import penalties/restrictions until a local factory is built.”
Tesla shares this week reached our target of $380 as per my forecast in Week 20, I hope you took advantage of the opportunity.
TOP EV NEWS #3 – CHINA NOT RELAXING EV REQUIREMENTS
In Week 22 we reported on concessions agreed between the German Chancellor and Chinese Premier to delay strict ZEV type mandates to allow German automakers some breathing space. This week the Chinese Legislative Affairs Office published draft legislation ignoring the concessions. The proposed legislation will require automakers to sell new energy vehicles equivalent to 8% of total sales in2018, increasing by 2% annually to reach 12% by 2020. Chinese lawmakers and the Calfornia Resource Board met in China last week to expand cooperation on accelerating the deployment of zero-emission vehicles. The delegation also included officials from Chinese vehicle and battery manufacturers such as BYD, BAIC, Great Wall, Geely, Dongfeng, Yangtze Motors and a half dozen other vehicle and battery companies.
TOP EV NEWS #4 – SALES UPDATE: GERMANY & CHINA
EV sales data for May 2017 published this week included data for Germany and China. I will do a complete breakdown of the sales again next month when June figures will allow me to do a deep dive at the halfway mark for the year. Headline data from Germany and China are as follows:
Germany: EV Sales keep powering ahead EV sales now nearly double that of the same period 2016. Total sales for the year to date stands at just over 17,000 units compared to 8,800 at May 2016. May 2017 EV sales in Germany was nearly treble that of May 2016 as 3,754 EV were added to the fleet compared to only 1,392 units in May 2016.
China: Chinese EV sales are recovering at a decent pace. EV sales in May showed a continuation of the trend started in March 2017. Chinese EV sales are now more than 50% higher than the same period a year ago. May EV sales of over 40,000 units bring the year-to-date sales to 134,000 units. Smaller cars like the Zhidou D2 and BAIC E180 still rules the roost. The new Chery eQ1 has also made the Top 20 list for the month.
TOP EV NEWS #5 – GM PRODUCES AUTONOMOUS BOLT EV
GM announced this week that it completed the equipment of 130 Chevrolet Bolt EVs with its next generation of self-driving technology. The vehicles will be added to its fleet of 50 current generation Bolt EVs testing the autonomous technology on public roads in San Francisco Scottsdale and Detroit. The company reported that the new generation technology features GM’s latest array of equipment, including LIDAR, cameras, sensors and other hardware designed to accelerate development of a safe and reliable fully autonomous vehicle.
In related news the California DMV permitted self-driving truck start-up, TuSimple, to test its artificial intelligence (AI)-based Level 4 autonomous driving system on 420-miles of public roads from San Diego to Tucson in Arizona.