Business News

Tesla

Elon Musk, the CEO of Tesla, unveiled the third chapter of Tesla’s “Master Plan” during Investor Day – a comprehensive shift towards sustainable energy with the goal of achieving 100% renewable energy by 2050.

Porsche

Porsche announced a revenue of 37.6 billion euros in 2022, representing a year-on-year increase of 13.6%. The company aims to achieve an 80% sales volume from pure electric vehicles by 2030, while also investing in cutting-edge high-performance battery technology and enhancing the charging network.

BMW

BMW Group announced its financial report for 2022, with a total annual revenue exceeding €14.26 billion (approximately ¥1.05 trillion), representing a year-on-year increase of 28.2%. The sales volume of pure electric vehicle models reached 215,752 units, showing significant growth of 107.7% compared to the previous year and accounting for approximately 9% of the group’s global total sales.

Furthermore, BMW has announced its new generation vehicle product plan: the production of new generation vehicles will commence in 2025, with a minimum of six models set to be launched within a span of 24 months. Initially, there will be a sporty multi-purpose vehicle and an all-electric sedan version of the BMW 3 Series. By 2030, the BMW Group plans to deliver over 10 million pure electric vehicles to customers worldwide.

Volkswagen

Volkswagen Group has released its financial report for the fiscal year 2022, revealing a net profit of €22.5 billion, representing a 13% YoY increase. Total deliveries have decreased by 7% to 8.3 million vehicles, with pure electric vehicle deliveries reaching 572,100 units, showing a growth of 26%.

The second battery factory in Europe for Volkswagen officially began construction in Valencia, Spain at the same time. It is expected to be operational by 2026 with an initial annual production capacity of 40GWh. Volvo CEO Jim Rowan stated that Volvo plans to manufacture and export its new electric vehicles in China for the European and Japanese markets this year. He also mentioned that sales of pure electric vehicles will surpass those of gasoline-powered cars by 2026.

Toyota

The Toyota Motor Corporation has recently introduced its inaugural electric vehicle model under the Lexus brand in Japan. Furthermore, the company will offer complimentary installation of home battery chargers for owners of Lexus electric vehicles.

Regional News

US and Japan

The United States and Japan have reached a trade agreement on key minerals such as lithium, cobalt, and nickel used in the production of electric vehicle batteries. This agreement between the US and Japan aims to relax specific provisions within the IRA. The IRA includes a $369 billion subsidy for new energy technologies, which will take effect in 2023.

UK

Britain is on the verge of an ‘electric revolution’ as a new report predicts that by 2027, half of all new car sales will be electric vehicles, with an annual sale of 1.3 million cars.