Business News

Tesla

Tesla has submitted several documents to the Texas permit and regulatory department, seeking approval for a $717 million investment in expanding its factory in Texas. Additionally, according to Bloomberg, Tesla will establish its third overseas factory in Indonesia.

Tesla has released its financial report for the fourth quarter and full year of 2022. In the fourth quarter of 2022, Tesla’s total revenue reached $24.3 billion, marking a year-on-year increase of 37%. The total revenue for the full year of 2022 amounted to $81.5 billion, representing a growth rate of 51% compared to the previous year. The net profit reached $12.6 billion.

BMW

BMW Group has announced that it will deliver a total of 2.3996 million vehicles under the BMW, MINI, and Rolls-Royce brands in the global market by 2022. Among them, sales of pure electric models from the BMW and MINI brands have more than doubled compared to the previous year, reaching 215,800 units. Additionally, BMW Group is collaborating with Valeo to develop fully automated parking technology capable of achieving up to Level 4 autonomy.

Mercedes-Benz

Mercedes-Benz announced that it would deliver over 2.0439 million vehicles worldwide in 2022, representing a 1% decrease compared to the previous year. Among them, deliveries of new energy vehicles (including smart) are projected to reach 319,200 units, showing a remarkable increase of 19% year-on-year. Specifically, electric vehicle deliveries are expected to amount to 117,800 units, experiencing an impressive growth rate of 124%.

Volkswagen

Volkswagen has announced that it will deliver 4.56 million new vehicles worldwide in 2022, representing a decrease of 6.8% compared to the previous year. Among them, approximately 330,000 units will be pure electric vehicles, showing a remarkable increase of 23.6% year-on-year. Specifically, deliveries of the Volkswagen ID.4 reached around 170,000 units, with the Chinese market accounting for 143,100 units and experiencing an impressive growth rate of 102.9%.

Audi

Audi has announced that it will deliver over 1.61 million vehicles globally in 2022, which represents a decrease of 3.9% compared to the previous year. Among them, electric vehicle deliveries reached 118,100 units, showing an impressive increase of 44.3%. In China alone, Audi delivered a total of 642,500 vehicles, indicating a decline of 8.4% year-on-year; however, electric vehicle sales experienced significant growth of 9.8%.

Volvo

Volvo announced a revenue of SEK 330.1 billion for the fiscal year 2022, representing a YoY growth of 17%. The operating profit margin reached 6.8%, amounting to SEK 22.3 billion. Electric vehicle sales accounted for 11% of total sales, while in 2023, Volvo will commence production of the EX90 and introduce another compact all-electric SUV model.

Ford

Ford Motor Company has announced its plan to invest $3.5 billion in the construction of a battery plant in southwestern Michigan, United States. CATL (Contemporary Amperex Technology Co., Limited) will provide LFP battery technology and services, while Ford engineers will be responsible for cell-to-vehicle integration. The two parties have reached a cooperation agreement.

Toyota

Toyota’s newly appointed CEO, Hiroshi Sato, stated that the company would focus on enhancing its electric vehicle offerings through its luxury brand Lexus.

Cadillac

Ron Harvey, Cadillac’s Vice President of Global Sales, announced that Cadillac plans to launch three pure electric models this year and commence production by 2024.

Nissan

David Moss, Senior Vice President of Nissan Motor Co., has announced that Nissan plans to conduct limited pilot production of solid-state batteries by 2025 and launch the first electric vehicle equipped with mass-produced solid-state batteries by 2028.

Regional News

US

The Biden administration has issued final regulations stipulating that electric vehicle charging stations funded by the federal government must be manufactured in the United States. Additionally, starting from July 2024, the electric vehicle legislation requires that 55% of the charging station costs must come from American components.

Netherland

The Netherlands Vehicle Authority has issued a certificate of approval to Tesla, stating that the next-generation autonomous driving computing platform HW4.0 has been approved for use in Model S and Model X vehicles in Europe.

EU

The EU ban on combustion engines has been officially approved, which means that the sale of new gasoline and diesel-powered cars, light commercial vehicles, HEV hybrid vehicles, as well as PHEVs will be prohibited within the European Union by 2035.

Global

In 2022, the global deliveries of pure electric vehicles and plug-in hybrid electric vehicles reached 10.831 million units, a significant increase of 61.3% compared to the previous year. The European market accounted for a total of 2.635 million electric vehicle deliveries, showing an 11.2% growth from the 2.369 million units in 2021; however, its market share decreased from 35.3% to 24.3%. In North America, there were a total of 1.115 million deliveries of pure electric vehicles and plug-in hybrid electric vehicles last year, representing a remarkable growth rate of 49.8% compared to the previous year’s figure of 744 thousand units.

India

In 2022, India witnessed a phenomenal growth in electric vehicle (EV) sales, with an astonishing increase of 223%, resulting in the sale of 48,000 units. Prior to this, EVs accounted for only 1.3% of the Indian market share.