Welcome to our latest EV charging news roundup, where we bring you the most exciting developments from the world of electric vehicles. From skyrocketing sales figures to groundbreaking moves by industry giants, the electric vehicle surge continues to reshape the automotive landscape globally.
In this edition, we’ll take you through the latest updates that highlight the growing momentum of the EV movement. Get ready to dive into stories that showcase how electric vehicles are no longer just a niche interest but a mainstay in mainstream news.
Electric Vehicle Surge Takes Center Stage in Australian Mainstream News with 385% Spike in Pure EV Sales!
EV Market Growth and Impact:
- Battery electric vehicle (BEV) growth in Australia is 385% higher than last year.
- Plugin hybrids (PHEVs) are up 24%, while plugless hybrids (HEVs) remain stable.
- Petrol drivetrains have grown 7%, and diesel is down 5%.
- Penetration of electric vehicles into the Australian market is around 8-10%.
- EV growth statistics are catching the attention of the financial sector and media.
Media Coverage and Advertising:
- Electric vehicles are featured in national finance reports on ABC News.
- Mainstream free-to-air TV in Australia is showing advertisements for various EV models.
- EVs are advertised during events like the FIFA Women’s World Cup.
Advocacy and Opinion:
- Alan Kohler, a respected finance journalist, champions electric vehicles and criticizes government strategies.
- There’s a shift in media and financial interest towards women’s sports and electric vehicles.
- Media and government attitudes towards EVs are discussed, including past “FUD” (Fear, Uncertainty, Doubt) spread by the media.
- The growth of EVs is portrayed positively, with increasing adoption, support from motoring groups, and improved affordability.
Range and Charging Infrastructure:
- Range anxiety as a concern for potential EV buyers.
- Investment in high-speed EV charging infrastructure, supported by RACQ and governments.
- Positive updates about the expansion of charging sites across various locations.
Public Education and Dispelling Myths:
- RACQ’s efforts to educate the public about EVs and counter misconceptions.
- Addressing concerns about battery explosions, towing capabilities, charging times, servicing, and grid capacity.
Government Involvement and Initiatives:
- State and federal government co-funding programs for EV charging infrastructure.
- Efforts to transition to cleaner transport and ensure access to sustainable transport options.
Plugin Cars Capture 45% of New Car Sales in the Netherlands
Market Statistics and Trends:
- Plugin registrations in the Netherlands increased to 18,792 units in June.
- The plugin vehicle (PEV) market reached 45% in the last month, contributing to a year-to-date score of 42%.
- The rise in plugin sales is mainly attributed to pure electric vehicles (BEVs), which had a substantial 89% YoY growth, accounting for 33% of new vehicle sales.
- The overall auto market saw a slower but still notable growth of 38% YoY, with 41,366 registrations.
Anticipated Growth and Transition:
- The projected final plugin share for 2023 is expected to be around 47%, indicating a potential completion of the EV transition before the end of the decade.
BEV vs. PHEV Breakdown:
- Pure electric vehicles (BEVs) represented 73% of total plugin sales in June and are expected to continue increasing their market share throughout the year, potentially reaching 80% by year-end.
- This shift suggests that plugin hybrid vehicles (PHEVs) might lose relevance in the market by 2025, with the market becoming more BEV-focused.
Top Electric Vehicle Models:
- The Tesla Model Y led the EV race and the overall auto market ranking in June with 1,778 registrations.
- The Peugeot e-208 EV secured the second position overall with a record 1,165 registrations, despite an upcoming refresh.
- The Tesla Model 3 had a strong performance in June with 860 deliveries, its best score since December 2021.
Competition and Market Movement:
- The rankings of EV models shifted, with the Lynk & Co 01 PHEV and Volvo XC40 losing their podium positions.
- Skoda Enyaq surged to the fifth position, closely followed by the MG ZS EV and MG4, which hit record results.
- European OEMs faced competition from MG, with the MG 5 station wagon achieving record deliveries, highlighting the absence of affordable BEV station wagons from European brands.
BYD's Bold Move in Brazil: Cabs, Factories & Affordable EV
Historical and Political Context:
- Mention of Gétulio Vargas and his influence on Brazil’s political and industrial landscape.
- Reference to protectionist policies and Brazil’s industrial expansion, particularly in the automotive manufacturing sector.
BYD's Entry into Brazil's EV Market:
- BYD’s acquisition of Ford’s Camaçari Plant and its plans to build 3 different factories for EV production.
- Investment amount, expected production start date, and special tax benefits received by BYD from Bahia State.
- BYD’s strategic move to enter the Brazilian EV market.
Cross-Border Implications:
- The significance of Brazil’s automotive market for the neighboring Argentinian market.
- The trade relationship between Brazil and Argentina in the context of low or zero tariffs for vehicle exports.
Pricing and Market Response:
- The shockingly low pricing of the BYD Dolphin in Brazil compared to other markets in the region.
- The competitive impact of BYD’s pricing strategy, triggering price reductions from other companies.
- High demand for the BYD Dolphin, with reservations and sales projections exceeding other BEVs in Brazil.
Partnerships and Fleet Adoption:
- Collaboration between 99, an urban mobility app, and BYD to provide 300 BYD D1 electric cabs for rental work vehicles.
- The impact of converting cabs to EVs on oil demand and environmental sustainability.
Prospects and Acceleration:
- The idea that BYD’s presence and initiatives in Brazil could accelerate the country’s electric vehicle market growth.
- The potential positive effects on neighboring Latin American markets that rely on Brazilian imports for their automotive sectors.
VinFast Surpasses Ford and GM in Stock Market Valuation
Introduction and Market Positioning
- Vietnamese electric vehicle (EV) maker VinFast’s stock market valuation surpasses Ford and General Motors (GM) on its trading debut.
- VinFast’s shares close above $37 each in New York, with a stock market valuation of $85 billion.
- Competition among established motor industry giants and newer manufacturers in the booming EV market.
Founder's Wealth and Ownership Structure
- VinFast’s chairman and founder, Pham Nhat Vuong, becomes Vietnam’s richest man, gaining around $39 billion from the listing.
- Vuong controls 99% of the company’s shares through Vingroup JSC, Vietnam’s largest conglomerate.
- Limited available shares for trading lead to potential price fluctuations.
Investor Beliefs and Future Outlook
- Investors anticipate a competitive future for EVs, with belief in emerging low-cost East Asian countries like Vietnam.
- Comparison to China as a competitor in the US market; investors see potential in Vietnam’s emergence.
VinFast's Public Listing Method
- VinFast opts for a special purpose acquisition company (Spac) to expedite its public listing process.
- Explanation of Spac concept: merging a non-listed company with a publicly traded one.
Challenges and Competitors in the EV Market
- Some EV start-ups using Spacs (e.g., Lordstown Motors, Faraday Future) faced significant stock value losses after mergers.
- VinFast’s potential difference due to Vingroup’s backing and established growth record.
- Intense competition from market leaders such as Tesla and BYD, which use price cuts to boost sales.
VinFast's Performance and Outlook
- VinFast delivers 11,300 EVs in the first half of the year, while Tesla delivers over 889,000 vehicles in the same period.
- Acknowledgment of Tesla’s continued leadership in EVs; expectation of multiple successful companies in the market.
- Positive assessment of VinFast’s foundation for success in the EV sector.
EV sales in Thailand to hit 50,000 despite auto loan regulations
Introduction and EV Sales Projections
- Anticipation of a surge in electric vehicle (EV) sales in Thailand to reach 50,000 units despite challenges.
- Challenges include diminishing purchasing power, household debt, and stricter auto loan regulations.
Factors Driving EV Popularity
- Government incentive packages contributed to the popularity of EVs in Thailand.
- Tax breaks and subsidies introduced to boost EV production and consumption.
Optimism for the Automotive Industry
- Kriengsak Wongpromrat, TAI’s president, expresses optimism for the Thai automotive industry, particularly the EV sector.
- Anticipation of steady EV sales in the current year.
Market Dynamics and Import Trends
- High consumer spending drives companies to import new EV models in the latter half of the year.
- Increasing imports of EVs from China due to the robust potential EV market in Thailand.
- Projection of a rise in market share for Chinese EV manufacturers.
Transition to Electric Mobility
- TAI partners with car companies, academic institutions, and EV engineers to train Thai auto parts manufacturers on EV-related issues.
- Efforts to accelerate the transition from internal combustion engine (ICE) technology to electric mobility technology.
Investment Promotion and Domestic EV Industry
- The Board of Investment awards investment promotion benefits to battery EV (BEV) manufacturers.
- Anticipated annual production capacity of 276,640 BEVs from 14 manufacturers.
- Obligation for manufacturers to establish EV assembly plants in Thailand, leading to locally made BEVs.
Resilience Amid Auto Loan Regulations
- Despite tighter auto loan criteria causing a revision in car production targets, Kriengsak remains confident.
- Asserts that the change in lending regulations won’t necessarily have serious repercussions for the automotive industry.
The latest developments in the world of EVs paint a dynamic and promising picture for the future of transportation. As EV sales surge in unexpected corners of the globe, established automakers and emerging players alike are embracing innovation and sustainability. These stories illustrate how electric vehicles are no longer confined to the periphery; they’re commanding attention on mainstream news platforms and redefining the way we approach mobility.
As we wrap up this edition of our EV charging news roundup, it’s evident that the electric vehicle surge is more than a trend—it’s a transformative movement shaping the future of transportation worldwide. Stay tuned for more exciting updates as the EV journey accelerates into uncharted territory.
