- Major automakers have largely shunned India when it comes to investing in electric vehicle (EV) assembly plants and battery gigafactories.
- However, some leading industry players, including Tesla, Byd, Fisker Motors, Nissan, and Renault, have shown interest in manufacturing EVs and batteries in India.
- India has become the world's third-largest auto market and surpassed China as the most populous nation.
- The Indian government recently blocked Byd's proposal, potentially due to geopolitical tensions between India and China.
- Tesla CEO Elon Musk has expressed optimism about India's EV potential, stating that it has "more promise than any large country in the world."
Chinese electric car company Xpeng will acquire Didi's smart electric vehicle unit in a strategic partnership, with Xpeng's shares surging 16%, and plans to launch a new A-class model under the brand MONA to expand in the mass-market segment.
Chinese EV company BYD and Tesla are reporting strong earnings and are emerging as leaders in the electric vehicle industry.
Tesla has unveiled its updated Model 3 EV sedan in China, featuring a sportier exterior, improved battery range, and faster acceleration, although surprising many with a 12% price increase; the upgraded model is expected to boost sales and profit margins for the electric vehicle giant.
Chinese electric-vehicle makers NIO, Li Auto, and XPeng have achieved record-breaking delivery numbers, a positive development for both Tesla and BYD, as well as for investors in the EV sector.
German automaker BMW has unveiled its electric concept car, the "Vision Neue Klasse," which will serve as the foundation for the brand's next generation of electric vehicles, featuring improved battery cells that enhance charging speed and range, with plans to launch the first models in 2025.
Volkswagen is introducing the electric ID. GTI Concept at IAA Mobility 2023, a retro-themed hot hatchback that combines 48 years of GTI history with VW's electric future.
Mercedes-Benz unveiled an electric vehicle with a longer range than any Tesla model on the market, as the company intensifies its efforts to challenge Elon Musk and expand its presence in the luxury electric car market.
BMW and Mercedes are intensifying their efforts in the electric vehicle market, unveiling new platforms and concept cars in response to competition from Chinese automakers and Tesla, although they may still lag behind in certain aspects.
Europe's carmakers are facing a tough battle to catch up with China in the development of affordable and consumer-friendly electric vehicles, with Chinese EV makers already a generation ahead, according to industry analysts and executives at Munich's IAA mobility show.
Chinese electric vehicle maker Xpeng plans to expand into more European markets, including Germany, Britain, and France in 2024, following its successful entry into the Netherlands and Norway.
Chinese car makers BYD and XPeng saw their stock prices rise ahead of a major auto show where they will compete with Tesla, which is making its first appearance at the event in Munich.
Mercedes has unveiled concept vehicles at the IAA Mobility auto show in Munich, featuring a range of over 466 miles on a single charge, surpassing Tesla models, while BMW revealed an electric vehicle with improved range and faster charging.
Lucid is exploring the possibility of entering the Chinese electric car market, but has not yet set a timeline for its entry, according to a top executive at the company. Lucid recognizes China as the world's largest and fastest adopting EV market, but wants to ensure it enters on the right terms to avoid mistakes. The company is currently assessing the viability of entering the market and considering factors such as pricing and manufacturing strategy. Additionally, Lucid plans to expand its product range to include lower-priced vehicles, with a mid-sized car potentially being unveiled in 2026. However, entering the mass-market segment will take time and require a strong supply base and the right pricing.
Toyota has unveiled its first-ever Century SUV, while German brands are showcasing electric concepts at the IAA Mobility 2023 motor show in Munich.
Tesla and BYD are currently leading the Chinese electric-vehicle market, while Lucid is taking its time to enter the race.
Tesla has adjusted its plans for the next-generation electric vehicles, including the development of a fully autonomous Robotaxi and an affordable model, both to be produced on the next-generation platform; production of these vehicles will take place in Austin, Texas instead of Mexico due to the unwillingness of engineers to relocate.
Tesla is expected to benefit from European protectionist measures as regulators crack down on Chinese electric vehicle (EV) competition, causing stocks of Chinese EV companies like NIO and XPeng to plunge.
The European Commission has launched an investigation into whether to impose punitive tariffs on Chinese electric vehicle (EV) imports that it considers to be benefiting from state subsidies, as the Chinese share of the European EV market has reached 8% this year.
The European Union is investigating China's state support for electric vehicle makers due to concerns about the impact on European auto manufacturers, with Chinese companies already gaining a substantial market share in Europe through cheaper prices and subsidies.
The European Union and China are in a dispute over electric vehicles, which could potentially benefit auto stocks in the short term and have negative consequences for diplomatic relations.
The recent strike by auto workers at GM, Ford, and Stellantis will further advantage Tesla in the electric vehicle industry, as EVs require fewer parts and therefore fewer jobs compared to gas-powered vehicles.
Singapore-based startup Singauto Technology is set to enter the Chinese electric vehicle (EV) market with fully electric refrigerated trucks, which could become a lucrative niche as the cold-chain logistics market is currently dominated by internal combustion vehicles; the company has already received 20,000 pre-orders for its new truck model.
Americans' hesitations to buy electric vehicles (EVs) are largely due to concerns around charging, with surveys showing that a lack of charging stations is a significant barrier to purchase, but efforts are being made to expand and improve the U.S. charging landscape through major incentives, partnerships, and the development of a single charging standard like Tesla's NACS plug design.
