Electric Vehicle Sector Update

Aston Martin has announced that it will delay the launch of its first electric vehicle until 2026 due to lower-than-expected EV demand The company initially aimed to introduce the EV in 2025 but will now focus on plug-in hybrid vehicles (PHEVs) Aston Martin's decision comes with a plan to blend EVs and PHEVs from 2025 to 2030, also scrapping plans to rebrand Lagonda as a competitor to Bentley. The chairman, Lawrence Stroll, notes that plug-in hybrids are more in demand at their luxury price point, offering traditional features with electrification In contrast, Li Auto is setting the pace with its new Mega minivan in China, which demonstrates rapid charging speeds, reaching 80% battery in just over 10 minutes Li Auto's CEO, Li Xiang, hints at strong pre-order numbers for their first BEV, with ambitious delivery targets set for 2024, while the U.S. investigates the national security risks of foreign-made EVs, with concerns centered around Chinese manufacturers like BYD and Geely On the infrastructure front, a report from iSeeCars.com indicates that cities like Louisville and states like Mississippi are lagging in public charging availability, while Los Angeles and California excel as EV-friendly locations, with Vermont topping the stats as the most EV-friendly state Helping to bridge such gaps, Boston commits to installing 250 curbside chargers with the help of Itselectric and Greenspot under the 'Recharge Boston' program, and Apple has sparked discussions following the shutdown of 'Project Titan', marking a strategic shift towards AI and software development.

In other news, Red Bull Motorsports impresses with a video of a drone, made by Dutch Drone Gods and tuned by Red Bull Advanced Technologies, that can keep up with an F1 car, while Agratas plans to establish the UK's largest battery gigafactory, bringing substantial employment and innovative opportunities to Somerset.