Electric Vehicle (EV) Supply and Demand Issues Not Slowing Worldwide Interest and Sales
February 10, 2022 at 08:31 AM EST
Palm Beach, FL – February 10, 2022 – FinancialNewsMedia.com News Commentary – The consumer demand for Electric Vehicles (EV) has manufactures gearing up production at an amazing rate. Factors such as growing demand for low emission commuting and governments supporting long range, zero emission vehicles through subsidies & tax rebates have compelled the manufacturers to provide electric vehicles around the world. This has led to a growing demand for electric vehicles in the market. Countries around the world have set up targets for emission reductions according to their own capacity. Increasing investments by governments across the globe to develop EV charging stations and Hydrogen fueling stations along with incentives offered to buyers will create opportunities for OEMs to expand their revenue stream and geographical presence. The market in Asia Pacific is projected to experience steady growth owing to the high demand for lower cost-efficient and low-emission vehicles, while the North American and European market is fast-growing markets due to the government initiatives and growing high-performance. A report from MarketsAndMarkets projected that the global Electric Vehicle Market size is projected to grow from 4,093 thousand units in 2021 to 34,756 thousand units by 2030, at a CAGR of 26.8%. The report said that the Asia Pacific EV market is led by countries like China, Japan and South Korea. China being the world’s largest EV producer and user has a dominance in the EV industry in the region. Active EV stocks in news today include: Jiuzi Holdings, Inc. (NASDAQ: JZXN), Li Auto Inc. (NASDAQ: LI), XPeng Inc. (NYSE: XPEV), Tesla, Inc. (NASDAQ: TSLA), Rivian Automotive, Inc. (NASDAQ: RIVN).
MarketsAndMarkets said: “Passenger vehicle segment. However, the low presence of EV charging stations and hydrogen fuel stations, higher costs involved in initial investments, and performance constraints could hamper the growth of the global electric vehicle market. Due to the COVID-19 pandemic, many countries had imposed a complete lockdown of more than two months, which, in turn, has impacted vehicle production. Manufacturing units around the world were shut down, and vehicle sales have taken a huge hit. However, the majority of the automakers resumed vehicle production with limited production and necessary measures. Conditions improved in the latter months, but overall EV manufacturers did not suffer much as demand for zero emission vehicles increased during the latter months of 2020. This led to an overall increase in demand for electric vehicles in the market. Overall, there wasn’t much of a loss for the electric vehicle market during the pandemic due to its increase in demand. Countries around the world have set up targets of around 2050 to reduce vehicle emissions. They have started promoting the development and sales of EV’s and related charging infrastructure.”
Jiuzi Holdings, Inc. (NASDAQ:JZXN) BREAKING NEWS – Jiuzi Holdings, Inc. Signs Strategic Cooperation Agreement with Distributor of Zhejiang Geely New Energy Commercial Vehicle Group – Jiuzi Holdings, Inc. (the “Company”; Jiuzi New Energy), a new energy vehicles franchisor and retailer under the brand name “Jiuzi” in China, today announced that, on December 25, 2021, the Company, through its wholly-owned subsidiary, Zhejiang Jiuzi New Energy Vehicles Co., Ltd. (“Zhejiang Jiuzi”), has entered into a two-year strategic cooperation agreement (the “Agreement”) with Zhejiang Farizon Zhitong Technology Co. Ltd. (“Farizon Zhitong”). Farison Zhitong is a domestic new energy commercial vehicles distributor wholly owned by Zhejiang Geely New Energy Commercial Vehicle Group Co. Ltd., which is a commercial vehicle maker owned by China Zhejiang Geely Holding Group (“Zhejiang Geely”), a leading privately operated auto manufacturer.
Pursuant to the Agreement, Zhejiang Jiuzi and Farizon Zhitong will jointly explore the application of new energy delivery vehicles to promote the idea of green via new energy vehicles within the network of China’s top express delivery companies, such as ZTO Express, YTO Express, Yunda Express, STO Express and Best Express.
Furthermore, Zhejiang Jiuzi will make use of its existing partnership with companies associated with these leading courier companies to promote sales and brand recognition of Farizon branded vehicles in the network. Farizon Zhitong, in return, will offer a preferential purchase policy for Zhejiang Jiuzi and its major clients’ orders of new energy vehicles, such as commercial minivan, van body truck and traditional truck, among other models.
The two parties will also work together proactively to propose new initiatives for the cooperation in order to fulfill their respective strategic plans and business goals. For example, Farizon Zhitong will be tasked with providing up-to-date catalogue of the brands, prices and models of its new energy commercial vehicles to Zhejiang Jiuzi.
Mr. Shuibo Zhang, CEO of Jiuzi Holdings, Inc., commented: “We are thrilled to announce this partnership with Farizon Zhitong and to join the network of top automaker, Zhejiang Geely, in new energy commercial vehicle and green logistic/delivery services. Since our recent alliance with leading e-commerce and retail platform Shanghai Zhongtongji E-Commerce Co. Ltd., this new collaboration marks our consistent strategic approach in clean energy vehicles and represents another major achievement for our business strategy in the logistics and express delivery segments. It is an important recognition of Jiuzi’s industry position and brand image in domestic new energy vehicle retail market. We expect the cooperation to bring significant financial contributions to Jiuzi going forward.” CONTINUED… Read this full press release for JZXN by visiting: https://www.financialnewsmedia.com/news-jzxn/
In other EV news of note:
Tesla, Inc. (NASDAQ: TSLA) released its financial results for the fourth quarter and full year ended December 31, 2021 by posting an update on its Investor Relations website. Please visit http://ir.tesla.com to view the update. Webcast: http://ir.tesla.com (replay)
Tesla reported it achieved production of more than 305,000 vehicles and deliveries of over 308,000 vehicles. In 2021, the company delivered over 936,000 vehicles.
Rivian Automotive, Inc. (NASDAQ: RIVN) recently announced its fourth quarter and full year 2021 financial results will be released on March 10, 2022, after market close.
Rivian will host an audio webcast to discuss its results and provide a business update at 2:00pm PT / 5:00pm ET the same day. The live webcast will be available at https://edge.media-server.com/mmc/p/axwnsoak and a replay will be available for four weeks at www.rivian.com/investors following the webcast.
Li Auto Inc. (NASDAQ: LI), an innovator in China’s new energy vehicle market, recently announced that the Company delivered 12,268 Li ONEs in January 2022, representing a 128.1% increase year over year. The cumulative deliveries of Li ONE reached 136,356 since the vehicle’s market debut.
“Li Auto would like to wish everyone a happy Chinese New Year. I am very pleased, on such a day, to share with you the exciting news that we have delivered over 10,000 Li ONEs for the third consecutive month, achieving a new record for domestic branded premium vehicles priced above RMB300,000 in China. This accomplishment comes from our users’ recognition, and we deeply appreciate their continued support. During a recent third-party Autonomous Emergency Braking (AEB) test, Li ONE was ranked No. 1 and was the only assessed model capable of accurately identifying crossing vehicles and two-wheelers, demonstrating our strong ADAS research and development capabilities. So far, more than 70,000 users have enjoyed a safer and easier driving experience enabled by our full-stack self-developed NOA. Looking ahead, we will remain committed to investing in research and development to provide our users with products and services that offer greater safety, convenience, and comfort,” said Yanan Shen, co-founder and president of Li Auto.
XPeng Inc. (NYSE: XPEV) has recently upgraded its auto-grade voice assistant using Microsoft custom neural voice capability, based on Neural Text-to-Speech (TTS), a feature of Azure AI.
XPENG installed the new voice assistant functionality via a major over-the-air (OTA) upgrade for its P7 smart sedan customers in China.
Microsoft research breakthroughs in speech, natural language and machine translation have helped significantly advance the fluency, quality, fidelity and naturalness of voice assistant technology over the past several years. These innovations have been integrated into commercially-available speech and language capabilities within Azure Cognitive Services and other Microsoft products, so that companies like XPENG can bring richer, more engaging experiences to their customers.
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