Electric Vehicle Sector Updates

The electric vehicle (EV) sector continues to advance with various developments noted globally A Porsche designer has envisioned an M2-sized EV for BMW's lineup Tesla has resolved cable length issues at its NACS Supercharger stations, making its network accessible to Ford F-150 Lightning and Mustang Mach-E, with plans to include Rivian, General Motors, Volvo, and Polestar vehicles. Additionally, Tesla introduced an incentive offering 5,000 miles of free Supercharging for select trade-ins, alongside a temporary $1,000 discount on Model Y orders The company has also launched online service and owner's manuals for its upcoming Cybertruck Meanwhile, Kia has developed a new 'kid hauler' based on the same electric architecture as the EV9, adhering to Hyundai's Seven platform. BYD's February sales saw a decrease but the company expanded with the launch of the Atto 3 SUV in Japan, opening the 22nd showroom in the country, and by introducing their flagship model, the BYD Seal, in Bangladesh Korean demand for minerals necessary for EV production is expected to rise sharply, in correlation with EV market growth Despite no current electrified version, Dacia's Sandero leads sales, and plans for electrification are underway.

On the global material supply side, improvements in battery performance and affordability are shifting the market India's drive towards EV adoption is accelerated by Servotech Power Systems acquiring a major order from Indian Oil Corporation Limited for fast chargers Hyundai Motor America reported increased sales, including a 40% jump in U.S.

EV sales EV battery innovation is also progressing, with LG Energy Solution and Honda erecting the final beam at their joint venture battery production facility in Ohio Furthermore, Li Auto has updated existing models, introducing a new battery electric vehicle, the Li Mega MPV, as its most expensive and first BEV, starting at around $77,770..