DOCSLIB.ORG

Alixpartners Automotive Electrification Index Q1 2020 ALIXPARTNERS AUTOMOTIVE ELECTRIFICATION INDEX Alixpartners Automotive Electrification Index

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Alixpartners Automotive Electrification Index Q1 2020 ALIXPARTNERS AUTOMOTIVE ELECTRIFICATION INDEX Alixpartners Automotive Electrification Index AlixPartners Automotive Electrification Index Q1 2020 ALIXPARTNERS AUTOMOTIVE ELECTRIFICATION INDEX AlixPartners Automotive Electrification Index E-Range in m miles / PHEV share Summary Q1 2020 -9% Global • After a rebound in Q4 ‘19, the Automotive Electrification Index 116 115 crashed by 28% in Q1 ’20 and is even below Q1 ’19 level, however 105 96 90 82 69 -28% 52 the EV market share was stable at 2.7%. 33 • Greater China with a massive e-Range drop in Q1 due to effect from mid 2019 subsidy stop and Covid-19 impact. Greater China’s e-Range Greater China eroded by 50% from 57m miles in Q4 ’19 to 28m miles in Q1 ’20. Also on a -42% twelve months basis Greater China’s e-Range has dropped by 42%. 60 65 57 49 44 27 32 28 • Europe is the only main region with growing e-Range in Q1 ’20 12 -50% showing a quarterly increase of 7%. On a twelve months basis, Europe’s e-Range has outperformed all other regions and increased by Europe 44%. +44% • North America’s e-Range has significantly decreased by 31% from +7% 23 23 25 30 33 10 11 11 16 22m miles in Q4 ‘19 to 15m miles in Q1 ‘20. On a twelve months basis, the e-Range has slightly increased by 5%. North America • The PHEV sales share has come back to 32% due to a stronger decline +5% of BEV sales China and US and its higher share in Europe. 23 25 24 • Tesla’s Model 3 continues to be the best selling EV with ~30% e- 11 14 21 22 15 8 -31% Range contribution. The majority of Model 3 produced is sold in North America (34%) followed by Europe (30%) and Greater China (27%). Model PHEV share [%] Y production has launched in January, first deliveries in March. 39 35 33 32 24 27 28 25 25 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 ’18 ’18 ’18 ’18 ’19 ’19 ’19 ’19 ’20 2 ALIXPARTNERS AUTOMOTIVE ELECTRIFICATION INDEX AlixPartners Automotive Electrification Index e-Range • By automaker, segment, region and country e-Range = • Note: e-Range does not include range from internal-combustion- engine (ICE) sources in plug-in hybrids – Only the battery range Sum of electric is included range of all electric • The e-Range attempts to rank the electrically driven range, and vehicles (EV) sold as such, does not include non-plug-in hybrids (HEVs) such as the standard Toyota Prius 3 ALIXPARTNERS AUTOMOTIVE ELECTRIFICATION INDEX AlixPartners Automotive Electrification Index • Goal: ‘e-Range’ as a more meaningful measure than currently exists in the public domain for tracking the progress of electrification in the auto industry globally by region, country, segment and particularly by Automaker • Transparency: Based on public available data and data validated directly by the Automakers • Sources: − IHS Markit Ltd.: for total sales data (all vehicle types) − EV-volumes.com: for electric ranges for battery-electric vehicles (BEVs), plug-in hybrid vehicles (PHEVs), fuel-cell electric vehicles (FCEVs) − Automaker- and government-published websites: ditto the above − Discussions with Automakers to validate ranges, with several Automakers updating ranges beyond what was publicly available • Vehicle scope: passenger cars and light trucks (GVW<6 tons), which coincides with IHS Market's ‘light vehicle’ definition • Sales allocation by automaker: based on IHS Markit’s method for allocating vehicle sales to brands (including for joint ventures, upfitters, post-production customizations, etc.) 4 ALIXPARTNERS AUTOMOTIVE ELECTRIFICATION INDEX 73 Countries in the Index (where EV sales have taken place/are recordable to date) AUSTRALIA FINLAND MALTA SLOVAKIA AUSTRIA FRANCE MEXICO SLOVENIA BAHRAIN GERMANY MONACO SOUTH AFRICA BELGIUM GREECE MOROCCO SOUTH KOREA BERMUDA HONG KONG NETHERLANDS SPAIN BRAZIL HUNGARY NEW ZEALAND SRI LANKA BULGARIA ICELAND NORWAY SWEDEN CANADA INDIA OMAN SWITZERLAND CHILE INDONESIA PANAMA TAIWAN CHINA IRELAND PERU THAILAND COLOMBIA ISRAEL POLAND TURKEY COSTA RICA ITALY PORTUGAL UKRAINE CROATIA JAPAN PUERTO RICO UAE CYPRUS JORDAN QATAR UK CZECH REP. LATVIA ROMANIA USA DENMARK LITHUANIA RUSSIA URUGUAY ECUADOR LUXEMBOURG SAUDI ARABIA EGYPT MACEDONIA SERBIA ESTONIA MALAYSIA SINGAPORE Sources: EV-volumes.com, Automaker responses, AlixPartners research 5 ALIXPARTNERS AUTOMOTIVE ELECTRIFICATION INDEX The global e-Range dropped significantly from 115m miles in Q4 ‘19 to 82m miles in Q1 (-28%) Q1 2013 AlixPartners Automotive-Electrification Index Q1 2020 200 Number of 120 Number of BEV, PHEV, BEV, PHEV, 180 FCEV sold: 110 FCEV sold: 41,023 160 100 462,351 140 90 e-Range: 80 e-Range: 120 3.5m miles 70 82.3m miles 100 (5.6m km) 60 (132.5m km) 80 50 Range (km, millions) (km, Range 40 - 60 millions) (miles, Range - Market e Market e 30 share: 40 share: 0.21% 20 2.69% 20 10 0 0 Average Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Average range: ’13’13’13’13’14’14’14’14’15’15’15’15’16’16’16’16’17’17’17’17’18’18’18’18’19’19’19’19’20 range: 84 miles 178 miles (136 km) (287 km) E-range: Electric miles sold Sources: IHS Markit, EV-volumes.com, AlixPartners research 6 ALIXPARTNERS AUTOMOTIVE ELECTRIFICATION INDEX The e-Range drop was mainly driven by weak BEV (-29%); PHEV less affected (-20%) Q1 2013 AlixPartners Automotive-Electrification Index Q1 2020 e-Range by propulsion Number Number vehicles sold 200 120 vehicles sold BEV 30,430 175 100 BEV 311,398 150 BEV PHEV 10,593 80 PHEV 149,165 125 PHEV FCEV - FCEV 1,788 100 60 FCEV 75 40 50 Market Range (km, millions) (km, Range 20 Range (miles, millions) (miles, Range Market - 25 - share: e share: e 0 0 BEV 1.8% BEV 0.16% Q1Q2 Q3Q4 Q1Q2 Q3Q4 Q1Q2 Q3Q4 Q1Q2 Q3Q4 Q1 Q2Q3 Q4Q1 Q2Q3 Q4Q1 Q2 Q3 Q4Q1 ’13’13’13’13’14’14’14’14’15’15’15’15’16’16’16’16’17’17’17’17’18’18’18’18’19’19’19’19’20 PHEV 0.9% PHEV 0.05% FCEV 0.0% Share of PHEVs within total number of electric vehicles sold 50% Average Average 40% e-Range e-Range 30% (miles): (miles): BEV 245 BEV 105 20% Overall weighted PHEV 35 PHEV 26 10% average 30% FCEV 377 0% Q1Q2 Q3Q4 Q1Q2 Q3Q4 Q1Q2 Q3Q4 Q1Q2 Q3Q4 Q1 Q2Q3 Q4Q1 Q2Q3 Q4Q1 Q2Q3 Q4Q1 ’13’13’13’13’14’14’14’14’15’15’15’15’16’16’16’16’17’17’17’17’18’18’18’18’19’19’19’19’20 Sources: IHS Markit, EV-volumes.com, AlixPartners research 7 ALIXPARTNERS AUTOMOTIVE ELECTRIFICATION INDEX Massive e-Range collapse in China (-50%); first time since Q1 ’17 below European level e-Range: regions by quarter (Q1 ’13 to Q1 ’20) 190 120 Change in e-Range by … 180 110 1 1 170 2018 2019 160 100 Europe 118% 44% Greater China 315% -42% Greater China 150 • E-Range drop from 57.3m miles in Q4 ’19 to 90 Japan/Korea 140 65% 13% 28.4m miles in Q1 ’20 (-50%) North America 70% 5% 130 • E-Range first time since Q1 ’17 below European 80 Global 171% -9% level 120 110 70 Europe 100 • Europe is leading e-Range ranking in Q1 ’20 60 with slightly increased e-Range from 30.4m 90 miles in Q4 ’19 to 32.5m miles in Q1 ‘20 80 50 Range (km, millions) (km, Range - 70 millions) (miles, Range North America - e e 40 60 • E-Range drop from 21.7m miles in Q4 ’19 to 15.0m miles in Q1 ’20 (-30%) 50 30 40 30 20 20 10 10 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 ’13 ’13 ’13 ’13 ’14 ’14 ’14 ’14 ’15 ’15 ’15 ’15 ’16 ’16 ’16 ’16 ’17 ’17 ’17 ’17 ’18 ’18 ’18 ’18 ’19 ’19 ’19 ’19 ’20 Key: Europe Greater China Japan/Korea North America Global 1 Change Q1 previous year to Q1 particular year Sources: IHS Markit, EV-volumes.com, Automaker responses, AlixPartners research 8 ALIXPARTNERS AUTOMOTIVE ELECTRIFICATION INDEX VW Group accelerates e-Range growth; BYD lost almost 2/3 of its e-Range since Q2 ‘19 e-Range: Major 5 OEMs by quarter (Q1 ’13 to Q1 ’20) e-Range: Major 5 countries by quarter (Q1 ’13 to Q1 ’20) Change in e-Range by … Change in e-Range by … 1 1 110 70 1 1 55 36 2018 2019 2018 2019 34 China 315% -44% Tesla 153% 40% 100 50 Renault/Nissan/Mitsubishi 46% 7% United States 60% 5% 32 60 Hyundai 276% 31% France 48% 124% 45 30 90 28 Volkswagen 78% 156% Germany 118% 44% BYD 538% -58% United Kingdom 52% 196% 40 26 80 50 24 35 70 22 40 30 20 BYD 60 18 • Massive drop in sales and e-Range due to subsidy cut and competitors 25 16 50 launching new models 30 Range (km, millions) (km, Range 14 - 20 millions) (miles, Range 40 - e Range (km, millions) (km, Range e - 12 millions) (miles, Range - e e 20 15 10 30 8 10 20 6 10 4 5 10 2 0 0 0 0 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 ’13 ’13 ’14 ’14 ’15 ’15 ’16 ’16 ’17 ’17 ’18 ’18 ’19 ’19 ’20 ’13 ’13 ’14 ’14 ’15 ’15 ’16 ’16 ’17 ’17 ’18 ’18 ’19 ’19 ’20 Key: Tesla Hyundai BYD Key: China France United Kingdom Renault/Nissan/Mitsubishi Volkswagen United States Germany 1 Change Q1 previous year to Q1 particular year Sources: IHS Markit, EV-volumes.com, Automaker responses, AlixPartners research 9 ALIXPARTNERS AUTOMOTIVE ELECTRIFICATION INDEX Despite a massive drop in e-Range, China and USA are still ranked #1 and #2 e-Range by country: Q1 2020 e-Range e-Range % of e-Range e-Range % of Rank Rank Rank (miles, (km, total e- Rank Rank Rank (miles, (km, total e- Q1 ’20 Q4 ‘19 Q1 ’19 Country millions) millions) Range Q1 ’20 Q4 ‘19 Q1 ’19 Country millions) millions) Range 1 1 1 China 27.35 44.02 33.2 21 21 37 Hong Kong 0.50 0.80 0.6 2 2 2 United States 13.12 21.11 15.9 22 24 17 Ireland 0.43 0.70 0.5 United Arab 3 6 5 France 6.13 9.86 7.4 23 53 41 0.36 0.58 0.4 Emirates 4 5 4 Germany 5.83 9.39 7.1 24 22 20 Finland 0.33 0.53 0.4 5 4 9 United Kingdom 5.18 8.34 6.3 25 29 25 Iceland 0.26 0.43 0.3 6 7 3 Norway 4.07 6.55 4.9 26 27 31 Israel 0.23 0.38 0.3 7 8 10 South Korea 2.66 4.28 3.2 27 31 22 Poland 0.13 0.20 0.2 8 3 7 Netherlands 1.94 3.12 2.4 28 23 26 New Zealand 0.12 0.20 0.2 9 12 11 Sweden 1.89
Load more

Recommended publications
  • Evergrande to Enter NEV Market Fast
    CHINA DAILY | HONG KONG EDITION Monday, November 18, 2019 MOTORING | 19 profit could fall as much as 43 per­ cent this year. BJEV, the largest maker of elec­ Evergrande to tric cars in the world, also forecast a 2019 loss in a grim earnings update. Startups are facing an even more serious situation, jostling enter NEV for attention in an almost over­ crowded sector and trying to pro­ duce convincing arguments about future profitability. They raised just $783 million market fast from January to mid­June 2019, compared with $6 billion for the Chinese property development company will same period last year, according invest 45 billion yuan in auto sector by 2021 to Reuters, citing data from Pitch­ Book. For 2018, the total funds raised stood at $7.7 billion. By LI FUSHENG Nio, once hailed as Tesla of Chi­ [email protected] na, failed last month in its attempt For core technology to get local government funding. Chinese property developer In the first 10 months this year, Evergrande has rolled out grand — and companies the startup that has burned if not grandiose — plans for elec­ available to be through more than $5 billion in tric vehicles at a time when estab­ four years delivered less than lished carmakers in the country purchased, we’ll buy 15,000 vehicles. are seeing sales slumps and start­ them all. For those we By the end of the third quarter, ups are jostling for attention of Nio had cut its workforce to 7,800 investors. couldn’t buy, we’d from 9,900 employees in January, The company will invest a total like to join hands with and its shares have dropped more of 45 billion yuan ($6.4 billion) by than 70 percent this year, accord­ 2021 in electric vehicles, said its them through ing to Bloomberg.
    [Show full text]
  • Guangzhou Automobile Group
    China / Hong Kong Company Guide Guangzhou Automobile Group Version 6 | Bloomberg: 2238 HK Equity | 601238 CH Equity | Reuters: 2238.HK | 601238.SS Refer to important disclosures at the end of this report DBS Group Research . Equity 7 May 2019 Japanese JCEs leading growth H: BUY Last Traded Price (H) ( 7 May 2019):HK$8.14(HSI : 29,363) More clarity on JVs future strategy. Guangzhou Auto (GAC) and its Price Target 12-mth (H):HK$9.60 (17.9% upside) (Prev HK$17.86) Japanese JCE partners have agreed on key priorities to grow the business. The medium-term plans include capacity expansion and new A: HOLD model development (both traditional and new energy vehicles). Last Traded Price (A) ( 7 May 2019):RMB11.61(CSI300 Index : 3,721) Price Target 12-mth (A):RMB11.30 (2.7% downside) (Prev RMB21.71) Another key factor is that both partners have agreed to maintain the current shareholding structure, hence removing uncertainties. The Analyst Rachel MIU+852 36684191 [email protected] Japanese auto brands have gained market share from 15.6% in December 2016 to 19% in February 2019 aided by their product What’s New range, pricing, and proactive business strategy. Despite the tough • More clarity on development of Japanese JCEs, key 1Q19 auto market, GAC’s Japanese JCEs managed to chalk up strong earnings driver in the future volume sales growth and decent profit contributions to the group. • Self-brand going through short-term adjustment and Where we differ? We expect normalisation of Trumpchi sales to have should start to normalise in 2H19 a meaningful impact on earnings, on anticipation of a recovery in • Maintain BUY, TP revised down slightly to HK$9.60 the PV market in 2H19.
    [Show full text]
  • Automotive Industry Weekly Digest
    Automotive Industry Weekly Digest 12 Apr – 16 Apr 2021 IHS Markit Automotive Industry Weekly Digest - Apr 2021 WeChat Auto VIP Contents [OEM Highlights] GMC reveals Hummer electric SUV, ahead of early 2023 availability 3 [OEM Highlights] Xiaomi to invest up to USD10 bil. in EV production 6 [Sales Highlights] GM to unveil Envision Plus SUV on 18 April, reports sales growth of 69% y/y in China during Q1 8 [Sales Highlights] BYD posts sales growth of 33% y/y during March 9 [Shanghai Motor Show 2021] MG to unveil Cyberster sports car 11 [Shanghai Motor Show 2021] Xpeng to unveil P5 electric sedan 11 [GSP] Greater China Sales and Production Commentary -2021.03 13 [Supplier Trends and Highlights] HKT uses 5G standalone network with network slicing for trials of C-V2X applications 15 [Supplier Trends and Highlights] Commsignia combines cloud and V2X messaging in 4G, 5G V2N solution 15 Confidential. ©2021 IHS Markit. All rights reserved. 2 IHS Markit Automotive Industry Weekly Digest - Apr 2021 WeChat Auto VIP [OEM Highlights] GMC reveals Hummer electric SUV, ahead of early 2023 availability IHS Markit perspective Implications GMC has revealed the GMC Hummer electric SUV, debuted during a college basketball championship tournament on 3 April. The new EV is due in early 2023 as a 2024 model year product. Outlook Between the October 2020 reveal of the GMC Hummer electric pick-up and the Hummer electric SUV, GM has continued to push forward with announcements relative to investment and plans for an all-electric light-vehicle range by 2035. The GMC Hummer electric SUV and pick-up both are to set expectations on delivery of high levels of capability and performance.
    [Show full text]
  • 200218 EV Volumes Monthly Xev Sales Tracker
    Global xEV This is a sample version of our ~ 90 page Global xEV Sales Tracker. Sales Tracker The price is 7 500€ / year and includes 12 updates. December and Full Year 2019 Data Center subscribers have 20 % lower price Contact [email protected] for info EVVOLUMES.COM Table of Contents Executive Summary 3 World 6 China 29 USA 36 Europe 43 Norway 51 UK 58 France 65 Germany 72 Japan 79 About EV-volumes 86 xEV Sales Tracker December & FY 2019 2 19-02-2020 EVVOLUMES.COM 2.2 million EVs were sold in 2019, growing by only 11% compared to last year and still representing less than 3% of PV sales. USA were down, China stable and Europe significantly up. Countries • China – 1.2 million EVs (5.2% penetration) - up 6% - 80% BEV – BJEV EU-Series = most solD EV • Europe – 565k EVs (3.1% penetration) - up 45% - 64% BEV – Tesla MoDel 3 = most solD EV • U.S.A. – 320k EVs (1.9% penetration) - down 12% - 73% BEV – Tesla MoDel 3 = most solD EV • Germany – 106k EVs (2.9% penetration) - up 60% - 64% BEV – Renault Zoé= most solD EV • Norway – 79k EVs (56% penetration) - up 9% - 76% BEV – Tesla MoDel 3 = most solD EV • UK – 75k EVs (3.2% penetration) – up 24% - 51% BEV – Tesla MoDel 3 = most solD EV • France – 62k EVs (2.8% penetration) - up 35% - 70% BEV – Renault Zoé = most solD EV • Japan – 44k EVs (1% penetration) - down 18% - 53% BEV – Nissan Leaf = most solD EV OEMs • Tesla won the OEM crown once again in front of BYD anD BAIC with more than 360k EVs solD • VW Group is finally serious about EVs and will overtake BMW Group in 2020 to become the 1st European OEM Models • Tesla MoDel 3 won the EV crown once again with more than 300k units solD • More than 50k Tesla MoDel 3 were solD in December while there wasn’t any European EV in Top 10 xEV Sales Tracker December & FY 2019 3 19-02-2020 EVVOLUMES.COM China represented 58% of global BEV market in December while Europe kept its lead on PHEVs with 46% market share and South Korea on FCEVs with 55% market share (300 units).
    [Show full text]
  • Stanphyl Capital Management LLC Stanphyl Capital GP, LLC Stanphyl Capital Partners LP
    Stanphyl Capital Management LLC Stanphyl Capital GP, LLC Stanphyl Capital Partners LP Friends and Fellow Investors: For June 2018 the fund was down approximately 13.8% (no that is not a misprint- please see the paragraph below) net of all fees and expenses. By way of comparison, the S&P 500 was up approximately 0.6% while the Russell 2000 was up approximately 0.7%. Year-to-date the fund is down approximately 16.2% while the S&P 500 is up approximately 2.6% and the Russell 2000 is up approximately 7.7%. Since inception on June 1, 2011 the fund is up approximately 67.4% net while the S&P 500 is up approximately 134.7% and the Russell 2000 is up approximately 113.7%. Since inception the fund has compounded at approximately 7.6% net annually vs 12.8% for the S&P 500 and 11.3% for the Russell 2000. (The S&P and Russell performances are based on their “Total Returns” indices which include reinvested dividends.) As always, investors will receive the fund’s exact performance figures from its outside administrator within a week or two; meanwhile I continue to waive the annual management fee until the entire fund regains its high- water mark. The fund was absolutely massacred this month, and it was primarily due to our large short position in Tesla, to which I added on each new piece of negative news, much of which was indicative of the kind of outright fraud (see below) that would immediately send a “normal stock” into a death spiral, and yet for most of the month Tesla’s stock kept levitating.
    [Show full text]
  • The Electric Vehicle and Charging Infrastructure Development in China
    ___________________________________________________________________________ 2018/EWG/WKSP1/012 The Electric Vehicle and Charging Infrastructure Development in China Submitted by: PetroChina Planning and Engineering Institute APEC Electromobility Workshop Santiago, Chile 1-2 February 2018 The EV and Charging Infrastructure Development in China Workshop on Electromobility: Infrastructure and Workforce Development 1 & 2 February 2018 Santiago, Chile Yue Xiaowen PetroChina Planning and Engineering Institute 1 Content EV development Charging infrastructure development Case study Conclusion 2 EV development 2016－2020 2011－2015 2001 2009 China has The EV demonstration launched the city plan has been It was the initial major research EV application will implemented. stage of projects on EV. be scaled up and industrialization EVs will strive to of EVs. have the market competitiveness for BEV: Battery Electric Vehicle (BEV) commercialized EV here promotion. PHEV: Plug-in Hybrid Electric Vehicle ( PHEV) 3 EV development • Since 2015 China has become the largest EV sales in China (thousands) 800 electric car market in the world. PHEV BEV • In 2017, the EV sales in China achieved 600 nearly 800 thousand with a 2.7% market 400 share. The EV stock reached 1.7 million, accounting for 0.8% of total motor vehicles 200 in circulation in China. 0 EV market share in China (%) 2011 2012 2013 2014 2015 2016 2017 3.0 EV stock in China (thousands) 1800 2.5 PHEV 1500 2.0 BEV 1200 1.5 900 1.0 600 0.5 300 0.0 0 2011 2012 2013 2014 2015 2016 2017 2011 2012 2013 2014 2015 2016 2017 http://www.caam.org.cn/ 4 EV development Top 10 models in China as of November 2017 (thousands) BAIC EC-Series Zhidou D2 EV BYD Song PHEV JAC iEV6S/E BYD e5 53% market share Geely Emgrand EV Chery eQ SAIC Roewe eRX5 PHEV BYD Qin PHEV Zotye E200 https://evobsession.com/ 0 5 10 15 20 25 30 35 40 45 50 55 60 65 5 EV development • It has been basically formed a complete industrial chain, including raw material supply, power battery production, vehicle control unit design, etc.
    [Show full text]
  • China Autos Asia China Automobiles & Components
    Deutsche Bank Markets Research Industry Date 18 May 2016 China Autos Asia China Automobiles & Components Vincent Ha, CFA Fei Sun, CFA Research Analyst Research Analyst (+852 ) 2203 6247 (+852 ) 2203 6130 [email protected] [email protected] F.I.T.T. for investors What you should know about China's new energy vehicle (NEV) market Many players, but only a few are making meaningful earnings contributions One can question China’s target to put 5m New Energy Vehicles on the road by 2020, or its ambition to prove itself a technology leader in the field, but the surge in demand with 171k vehicles sold in 4Q15 cannot be denied. Policy imperatives and government support could ensure three-fold volume growth by 2020, which would make China half of this developing global market. New entrants are proliferating, with few clear winners as yet, but we conclude that Yutong and BYD have the scale of NEV sales today to support Buy ratings. ________________________________________________________________________________________________________________ Deutsche Bank AG/Hong Kong Deutsche Bank does and seeks to do business with companies covered in its research reports. Thus, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. DISCLOSURES AND ANALYST CERTIFICATIONS ARE LOCATED IN APPENDIX 1. MCI (P) 057/04/2016. Deutsche Bank Markets Research Asia Industry Date China 18 May 2016 Automobiles & China
    [Show full text]
  • Automotive Industry Weekly Digest
    Automotive Industry Weekly Digest 25-29 January 2021 IHS Markit Automotive Industry Weekly Digest - Jan 2021 WeChat Auto VIP Contents [OEM Highlights] Great Wall to reshape brand image with new models 3 [OEM Highlights] VW begins sales of ID.4 CROZZ in China 4 [Sales Highlights] Chinese new vehicle sales contract 2% during 2020; demand rebound expected in 2021 6 [Sales Highlights] VW Group reports sales decline of 9.1% in China during 2020 8 [Technology and Mobility Highlights] Huawei develops smart roads in Wuxi that communicate with driverless vehicles 10 [Technology and Mobility Highlights] Geely teams up with Tencent to develop smart car technologies 10 [Supplier Trends and Highlights] DENSO collaborate with AEVA to develop next-generation FMCW lidar system 12 [Supplier Trends and Highlights] Freudenberg Sealing Technologies develops new DIAvent valves for safer lithium-ion batteries 12 [GSP] India/Pakistan Sales and Production Commentary -2020.12 14 [VIP ASSET] Stellantis: Scale Creates Opportunity 16 [VIP ASSET] Stellantis expects scale to support strong brand stable, investment into new tech 17 Confidential. ©2021 IHS Markit. All rights reserved. 2 IHS Markit Automotive Industry Weekly Digest - Jan 2021 WeChat Auto VIP [OEM Highlights] Great Wall to reshape brand image with new models IHS Markit perspective Implications Great Wall has delivered satisfactory sales results during 2020 despite the disruption from the coronavirus disease 2019 (COVID-19) pandemic. The automaker's sales rose by 5% to more than 1.11 million vehicles during 2020 on the back of strong demand for its new models, including the Haval H6 and the Pao pickup. The sales volumes of 1.11 million units exceeded the company’s target set for the year, which was 1.02 million units.
    [Show full text]
  • 2020 Annual Results Announcement
    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. GUANGZHOU AUTOMOBILE GROUP CO., LTD. 廣 州 汽 車 集 團 股 份 有 限 公 司 (a joint stock company incorporated in the People’s Republic of China with limited liability) (Stock Code: 2238) 2020 ANNUAL RESULTS ANNOUNCEMENT The Board is pleased to announce the audited consolidated results of the Group for the year ended 31 December 2020 together with the comparative figures of the corresponding period ended 31 December 2019. The result has been reviewed by the Audit Committee and the Board of the Company. - 1 - CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Year ended 31 December Note 2020 2019 RMB’000 RMB’000 Revenue 3 63,156,985 59,704,322 Cost of sales (60,860,992) (57,181,363) Gross profit 2,295,993 2,522,959 Selling and distribution costs (3,641,480) (4,553,402) Administrative expenses (3,850,327) (3,589,516) Net impairment losses on financial assets (55,110) (53,831) Interest income 304,233 290,694 Other gains – net 4 1,379,690 2,620,340 Operating loss (3,567,001) (2,762,756) Interest income 127,551 171,565 Finance costs 5 (439,567) (516,481) Share of profit of joint ventures and associates 6 9,570,978 9,399,343 Profit before income tax 5,691,961 6,291,671 Income tax credit 7 355,990
    [Show full text]
  • GREAT WALL MOTOR COMPANY LIMITED (A Joint Stock Company Incorporated in the People’S Republic of China with Limited Liability) (Stock Code: 2333)
    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. 長 城 汽 車 股 份 有 限 公 司 * GREAT WALL MOTOR COMPANY LIMITED (a joint stock company incorporated in the People’s Republic of China with limited liability) (Stock Code: 2333) ANNOUNCEMENT OF AUDITED ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2019 The board of directors (the “Board”) of Great Wall Motor Company Limited (the “Company”) is pleased to announce the audited results of the Company and its subsidiaries for the year ended 31 December 2019. This announcement, containing the full text of the 2019 Annual Report of the Company, is prepared with reference to the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited in relation to preliminary announcements of Annual Results. The Company’s 2019 Annual Report will be available for viewing on the websites of The Stock Exchange of Hong Kong Limited at www.hkexnews.hk and of the Company at www.gwm.com.cn. Printed version of the Company’s 2019 Annual Report will also be delivered to the Company’s shareholders. By order of the Board Great Wall Motor Company Limited Xu Hui Company Secretary IMPORTANT NOTICE I. The Board, the Supervisory Committee and the directors, supervisors and senior management of the Company warrant that the contents of this annual report are true, accurate and complete and do not contain any false representations, misleading statements or material omissions, and jointly and severally take legal liability for its contents.
    [Show full text]
  • Powering the Electric Vehicle with a Dynamo Using Wind Energy
    JOURNAL OF CRITICAL REVIEWS ISSN- 2394-5125 VOL 7, ISSUE 19, 2020 POWERING THE ELECTRIC VEHICLE WITH A DYNAMO USING WIND ENERGY Mr. Kamalpreet Singh1, Dr. Harbinder Singh2, Dr. Harpal Singh3, Dr. Mohit Srivastava4 1Computer Science Engineering, Chandigarh Engineering College, Landran, Mohali, India. 2,3,4Electronics and Communication Engineering Department, Chandigarh Engineering College, Landran, Mohali, India. E-mail: [email protected], [email protected], [email protected], [email protected] Received: 14 March 2020 Revised and Accepted: 8 July 2020 ABSTRACT: The main objective of this paper is to represent a method for powering the electric car with a dynamo using wind energy. We want to solve the major disadvantage faced by an electric vehicle that is the discharge of the battery in case there is no power source. In case there is no power station nearby then electric vehicle can’t reach its desired destination. To solve this problem dynamo can be used. Dynamo is a device that converts mechanical energy into electric energy. Hence by using this property of a dynamo, this problem can be solved. The description of this technique is placing a dynamo behind the radiator and fan in front of the radiator. A hole is created at the centre of the radiator to connect the dynamo with the fan using a shaft. Due to locomotion of a car fan will rotate and current will be produced with the help of a dynamo. This technique has one more benefit that is efficiency of heat dissipation from the radiator will increase with the help of a fan.
    [Show full text]
  • ELECTRIC VEHICLES: Ready(Ing) for Adoption
    ELECTRIC VEHICLES Ready(ing) for Adoption Citi GPS: Global Perspectives & Solutions June 2018 Citi is one of the world’s largest financial institutions, operating in all major established and emerging markets. Across these world markets, our employees conduct an ongoing multi-disciplinary conversation – accessing information, analyzing data, developing insights, and formulating advice. As our premier thought leadership product, Citi GPS is designed to help our readers navigate the global economy’s most demanding challenges and to anticipate future themes and trends in a fast-changing and interconnected world. Citi GPS accesses the best elements of our global conversation and harvests the thought leadership of a wide range of senior professionals across our firm. This is not a research report and does not constitute advice on investments or a solicitations to buy or sell any financial instruments. For more information on Citi GPS, please visit our website at www.citi.com/citigps. Citi GPS: Global Perspectives & Solutions June 2018 Raghav Gupta-Chaudhary is currently the European Autos Analyst. He has been an Analyst for seven years and joined Citi's London office in July 2016 to cover European Auto Parts. Raghav previously worked at Nomura from 2011 to 2016, where he started off on the Food Retail team and later transitioned to cover the Automotive sector. He has an honours degree in Mathematics with Management Studies from UCL and is a qualified chartered accountant. +44-20-7986-2358 | [email protected] Gabriel M Adler is a Senior Associate in the Citi Research European Autos team. He is currently based in the London office and started with Citi in October 2017.
    [Show full text]