Tesla releases Q3 financial results reporting 39% YoY growth

Ford Motor Company said today it reached an agreement with Tesla Motors that will provide Ford electric vehicle customers access to more than 12,000 Tesla Superchargers across the U.S. and Canada, doubling the number of fast-chargers available to Ford EV customers starting Spring 2024. A Tesla-developed adapter will provide Ford F-150 Lightning, Mustang Mach-E and E-Transit vehicles fitted with the Combined Charging...

26 May 2023

At the Tesla 2023 Shareholders Meeting Elon Musk made several key announcements. Here's a brief recap of what he said. Next Gen Drive Unit. The announcement of the next-gen drive unit was the first more noteworthy one among a few. As already stated before, during the development stage, this next-gen drive unit uses zero rare earth materials. It requires 75% less Silicon Carbide and reduces gigafactory footprint by...

17 May 2023

Panasonic has released its financial results for the year 2023 so far and expectations for 2024. In the expansive document, there's a section depicting the areas where the company expects growth and one of them is automotive batteries. In order to take advantage of this expected growth, Panasonic mentions three key areas: Enhancing supply capabilities in the USA - the mass production of 2170 cells from the Kansas...

11 May 2023

CNBC reports that Elon Musk has broke ground on a Tesla lithium refinery that is planned to be built in Corpus Christi, Texas. Gov. Greg Abbott also attended the ceremony. Tesla will invest USD 3.75 million in this project as one of the company's steps to secure a domestic supply of lithium hydroxide for its batteries. The report cites Elon Musk who said that this refinery should provide enough lithium for Tesla to...

9 May 2023

In the first quarter of this year, Tesla produced over 440,000 vehicles and delivered over 422,000 vehicles. The company continues to transition towards a more even regional mix of vehicle builds, including Model S/X vehicles in transit to EMEA and APAC. Tesla will post its financial results for the first quarter of 2023 after the market close on Wednesday, April 19, 2023.

4 April 2023

Tesla's 2023 Investor Day offered several interesting pieces of information. For starters, during the time for vehicle design, Tesla presented in detail how it optimized the manufacturing process starting from design to the assembly resulting in decreasing the "nothing-to-do" time and more than 40% reduction in manufacturing footprint. Thus the company will build factories faster, with less CapEx and more output per...

3 March 2023

The Global Battery Alliance (GBA), the world's largest multi-stakeholder organization to establish a sustainable battery value chain by 2030, today launched the proof of concept for its Battery Passport at the World Economic Forum’s Annual Meeting in Davos. The Battery Passport is key to facilitating the rapid scaling of sustainable, circular, and responsible battery value chains to meet the targets of the Paris...

18 January 2023

According to Digitimes Research reported by Digitimes Asia, the global sales of electric vehicles have reached 9.78 million units in 2022. The projected growth for this year is 49% to 14 million units sold globally. Of those, 9 million are expected to be sold in China only. Even now, China's share of the global EV sales is higher than 60%. For comparison, Europe sales account for 24% of the total sales, and USA...

11 January 2023

The latest Coutnerpoint research of the EV market noted down that Tesla is clearly leading the US EV market, and ts Q3 2022 "eclipsed the next 15 brands combined." The overall US EV sales grew by almost 52% YoY during Q3 2022 despite macroeconomic headwinds. BEV sales grew by more than 78% YoY during Q3 and constituted over 80% of the total US EV sales. Tesla sales in the US grew by more than 56% YoY during the...

5 January 2023

Tesla has announced its fourth-quarter results for 2022. In this period, the company has produced over 439,000 vehicles and delivered over 405,000 vehicles. In 2022, vehicle deliveries grew by 40% YoY to 1.31 million while production grew by 47% YoY to 1.37 million. Tesla continued to transition towards a more even regional mix of vehicle builds which again led to a further increase in cars in transit at the end of...

3 January 2023

In a short press release announcement, Tesla revealed it will host its 2023 Investor Day on March 1. The event will be live-streamed from the brand's Gigafactory Texas, with the option for some of its institutional and retail investors to attend in person (details to follow). The investors will be able to see Tesla's most advanced production line as well as discuss long-term expansion plans, the generation 3...

3 January 2023

Europe's passenger EV sales increased by 16% YoY in Q2 2022, according to the latest research from Counterpoint's Global Passenger Electric Vehicle Model Sales Tracker. Battery electric vehicles (BEVs) accounted for 55% of total EV sales during the quarter. Germany, with a 28% share, remained the European EV market leader, followed by France with 16%, and the UK with 14%. Among other European nations, Spain and the...

14 October 2022

Market research agency Counterpoint reports that the global passenger EV sales grew 61% YoY to reach 2.18 million units in Q2 2022. In total EV sales, battery electric vehicles (BEVs) accounted for almost 72%, and plug-in hybrid electric vehicles (PHEVs) for the rest. China remained the market leader in EV sales, followed by Europe and the US. China's EV sales increased by almost 92% YoY in Q2 2022 to reach 1.24...

29 August 2022

Yesterday, LG Energy Solution said that it will invest 730 billion won in its Ochang facility to expand the production capacity of cylinder batteries. 580 million won of those will go to the site's second factory, increasing the 4680 batteries' annual capacity by 9 GWh. The rest of the investment will be used in the first factory for increasing by 4 GWh the annual capacity of the 2170 batteries. The production...

14 June 2022