EV's

BP has collaborated with electric vehicle leader, Tesla, in a pivotal partnership to expand the EV charging infrastructure in the US. The partnership involves BP's $100 million investment in Tesla's advanced V4 superchargers. While Tesla will provide the hardware and software, BP will handle the installation, branding the chargers under its name. This move is part of BP's broader goal to invest $1 billion in the US EV charging infrastructure by 2030. The alliance is indicative of a broader industry trend, with companies choosing Tesla's reliable and cost-effective charging technology for infrastructure development.

Toyota Australia's delayed entry into the EV market, marked by its recent bZ4X launch, stands in stark contrast to the advancing global shift towards electric mobility. The company's preference for hybrids, citing affordability and inadequate charging infrastructure, is challenged by the success of competitively priced EVs like the BYD Dolphin and Tesla's Model Y in Australia. Despite a reasonable charging network, Toyota's hesitation seems a bid to retain market share until they unveil more EVs by 2026 or 2027. However, with competitors like Hyundai and the VW group already phasing out ICE vehicles in some regions, Toyota's cautious approach could potentially cost them in the fast-evolving automotive landscape, particularly if their future EV offerings don't match up to the competition.

The article discusses the apparent confusion within BMW's strategic approach towards the electric vehicle (EV) transition, led by its CEO, Oliver Zipse. His conflicting statements regarding EV infrastructure and the phase-out of combustion engines have reportedly muddled BMW’s narrative. Despite having appealing EVs, BMW faces stiff competition from companies like Tesla, which has outperformed BMW significantly in specific markets. Unlike its competitors, BMW has not committed to phasing out combustion engines, sending mixed signals to its customers and stakeholders. The article suggests that this ambiguous stance could derail BMW from the global shift towards electric mobility, urging a recalibration of its strategic direction towards sustainability.

Tesla's recent price cuts in the US, aimed at making electric vehicles more affordable, highlight its long-term vision of promoting sustainable energy. Unlike other automakers like Lucid Motors who heavily invest in advertising, Tesla has achieved remarkable sales growth with minimal advertising. Despite the price cuts, Tesla's Average Selling Price in 2023 remains relatively high at $44,203, yet the anticipation for the forthcoming $25,000 car is expected to broaden Tesla's market reach significantly. The company's continuous efforts in reducing costs and managing supply chains efficiently reflect a balanced approach between maintaining profitability and promoting affordability, aligning with its mission towards a sustainable automotive future.

The Big Three—General Motors, Ford, and Stellantis—face a dual challenge as they navigate a costly transition to electric vehicles (EVs) amidst a financially draining strike by the United Auto Workers (UAW). The UAW’s demand for a 35-40% wage hike amidst this pivotal transition exacerbates the financial strain, with Ford's CEO warning of potential bankruptcy. The strike has already caused a $5.5 billion loss across the Big Three, illustrating a precarious balance between honoring workforce demands and ensuring corporate survival in the competitive EV market.

Ford showcased a notable growth in electric vehicle (EV) sales in Q3, marking its best quarter for EVs due to Mustang Mach-E and E-Transit's performance. However, when compared to Tesla and Rivian, Ford's progress seems less impressive. Tesla's Model Y vastly outsells the Mach-E, while Rivian's production, though lower than Ford's total, is noteworthy with fewer models. Ford's F-150 Lightning experienced a dip in Q3, further exacerbated by labor issues leading to order cancellations in Canada. As Q4 2023 approaches, with Tesla’s Cybertruck and Rivian’s continued ascent, Ford faces a crucial period to accelerate its EV production to stay competitive in the rapidly evolving market.

In Q3 2023, GM reported its delivery numbers for electric vehicles (EVs), showing signs of gradual progress in EV production. While the Bolt, Hummer EV, and Cadillac Lyriq achieved increased sales, these figures remain relatively modest. GM's introduction of the Blazer EV and Silverado EV also indicates a diversifying lineup. However, with only 3% of Q3 sales being EVs, GM's claims of EV leadership contrast with the small market share they currently hold. The report highlights GM's slow but discernible momentum in the EV race, emphasizing the need for more substantial growth to compete effectively in the EV market.

Tesla's recent Q3 production and delivery numbers showed a slight dip compared to Q2, aligning with their previous predictions. With 435,059 units delivered, the figures were closer to individual estimates than Wall Street's. Despite the short-term view some might take on these numbers, Tesla's growth over the past few years is undeniable. In the first three quarters of 2023, they surpassed their entire 2022 delivery count. Moreover, their production rate for 2023 is nearly matching the full year of 2022, with one quarter still to go. Critics, like Gordon Johnson, who claim Tesla's growth has plateaued, are challenged by these robust figures. Tesla's strategy to prioritize volume over immediate profits, banking on future software services, seems to be paying off. Even with challenges like high vehicle prices and new factory ramp-ups in 2022, the company managed to maintain competitive production costs. To meet their 2023 goal of 1.8 million deliveries, Q4 will be crucial. While discussions will center around these Q3 figures, it's essential to recognize Tesla's consistent and remarkable growth over the years, expecting the trend to continue.

Volkswagen's (VW) journey towards electric vehicle (EV) production faces hurdles as a recent IT glitch halts production, adding to previous challenges of part shortages and transport issues. While Tesla thrives, reducing debt and increasing production, VW's debt surges and its EV production lags behind targets. The delay of VW's Trinity platform and a new factory till 2029 further hampers its progress in the EV race against Tesla, reflecting a contrast in operational efficiency and fulfillment of promises between the two automakers.