The EV disruption continues to roll on…
An update on the EV sector and a look at the latest electric cars from the Canadian International AutoShow in Toronto
The electric vehicle (EV) roller coaster ride has continued the past few months with near-record December 2019 sales followed by a coronavirus led sales slump in January 2020. Meanwhile, more governments have moved to ban the Internal Combustion Engine (ICE) vehicles, and tougher emissions standards have now come into force in Europe and China motivating car manufacturers to sell more electric cars.
The latest EV news
- 2019 global electric car sales were ~2.2m, up ~10% on 2018. Tesla Model 3 was the electric car sales leader by far, selling almost 3x its nearest competitor.
- China announced that “China will not cut NEV subsidies in July 2020.”
- Indonesian President Jokowi announced: “Only green vehicles for Indonesia’s new capital.”
- The UK announced: “Britain will ban sales of new gasoline and diesel cars from 2035 — five years earlier than planned.”
- Yesterday Reuters reported: “Singapore aims to phase out petrol and diesel vehicles by 2040.”
- Toyota (TM) makes a new A$571.18 million bet on electric flying taxis, and Hyundai Uber electric air taxi service is planned to launch by 2023.
- Tesla in talks to use CATL’s cobalt-free batteries in China-made cars – sources.
Hyundai Uber electric air taxi service is planned to launch by 2023
The latest electric cars from the 2020 Canadian International AutoShow in Toronto
InvestorIntel has been busy at the show checking out all the latest electric cars to show our readers.
InvestorIntel CEO Tracy Weslosky was there and had this to say:
“The love affair with the car continues if crowds are any indication. Genuinely impressed by the BMW i8 aesthetically, I am told that it’s ‘barely’ electric so that places me back standing at the Porsche. This said, while electric cars were front and center stage and everyone is in the game, my Father who accompanied me — wanted to look at the Buicks. I liked the bike with sneakers.”
Some of the cars on show in Toronto this week
Lexus LF-30 electric concept car
The BMW Vision iNext incorporates Autonomous driving, Connectivity, Electrification and Services (ACES)
BMW i8 hybrid with a small range – production may end soon
Audi Q5 hybrid
GM Bolt – 100% EV
Porsche e-mobility (Porsche Taycan 100% EV)
The sneakers bike that Tracy liked
Nobody said a revolution was easy. The EV revolution (or “evolution”) is certainly happening, but with plenty of associated dramas. As usual, Tesla is at the center of attention with its genius leader Elon Musk. In the past few months, Tesla’s stock price has rocketed from below USD$ 200 to above USD$ 800 at present, “burning the shorts” as they lost billions of dollars, with Elon left smiling and even dancing in Shanghai.
The EV disruption continues to roll on despite short term setbacks and is in for an amazing ride ahead with sales likely to rise as much as 10 fold in the 2020’s decade.
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Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>