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The electric vehicle market has set a record: more than half a million cars were sold in just a month, of which 50% were bought in China

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As reported by TheElec with reference to EV Volumes, the total sales of electric vehicles in August exceeded half a million units. More precisely, it is said about 510 thousand cars, including countries for which data were not available.

It also reported that total sales doubled from the same month a year ago. Interestingly, more than half of all electric vehicles sold (about 260 thousand units) in August were registered in China. In Germany, about 52 thousand electric vehicles were sold, while sales in the US market amounted to about 44 thousand units.

In France in August of this year, 17,000 electric vehicles were sold, in Norway – 14,000 vehicles, in South Korea, sales reached 9,600 units, which is 172% more compared to the same period last year.

EV Volumes also clarified that the launch of the Tesla Model Y and Hyundai Ioniq 5 in new markets spurred sales in August. Tesla Model 3 was the most popular electric vehicle, with global monthly sales of 282,000, and EV Volumes predicts total sales of electric vehicles this year to reach 6.41 million.

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Electric Cars

Huawei and BAIC electric vehicle with HarmonyOS, HiSilicon Kirin and Arcfox Alpha S self-driving system to go on sale this year

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Earlier this year, Huawei unveiled its new Arcfox Alpha S electric vehicle, co-developed with BAIC and powered by the HarmonyOS operating system. The company has now officially announced that the first Arcfox Alpha S vehicles will go on sale in the fourth quarter of this year.

The Arcfox Alpha S is the result of a partnership between the Chinese tech giant and the automotive brand to create an advanced vehicle with autonomous driving capabilities. The Alpha S was preceded by an investment of over a billion dollars in research and development of electric vehicles for self-driving technology.

Despite the fact that Arcfox is produced under the BAIC trademark, the main features of the new electric car are HarmonyOS and the Huawei Inside system, which means that the car can move without the help of a driver. It also has a Huawei HiSilicon Kirin SoC.

Huawei has already demonstrated its L4 self-driving technology when the Arcfox Alpha S drove 1,000 kilometers through a busy Chinese city without any human intervention. The car managed to achieve this with the help of laser rangefinders, two dozen different radars and 12 cameras.

The car is offered at prices ranging from $ 60,000 to $ 66,000 in various trim levels.

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Electric Cars

Historic moment in the electric vehicle market: Hertz buys 100,000 Tesla vehicles for $ 4.2 billion

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Hertz Global Holdings Inc has ordered 100,000 Tesla electric vehicles, actively pursuing the electrification of its rental car fleet. The deal is worth $ 4.2 billion. It is the largest purchase of electric vehicles in history. Cars will be delivered within the next 14 months.

Bloomberg points out that the cost of the order implies that Hertz is paying for Tesla’s list prices, meaning it does not receive the discount on its large order that car rental companies usually get from automakers.

Bloomberg writes that the Tesla Model 3 will be available for rent from Hertz offices in major US markets and parts of Europe from early November. Customers will, of course, have access to Superchargers, and Hertz is also building its own infrastructure for charging electric vehicles.

The electrification plan, which will eventually cover nearly all of Hertz’s half a million cars and trucks worldwide, is the company’s first major initiative since bankruptcy in June. And it shows that the new owners of Hertz, Knighthead Capital Management and Certares Management, intend to shake up an industry dominated by a handful of big players who are usually slow to change.

Bloomberg

The face of the new ad campaign is NFL star Tom Brady.

Tesla shares rose 4-5% in response to the news and the upgrade from Morgan Stanley.

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Electric Cars

Tesla capitalization exceeded $ 1 trillion

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At the end of last week, Tesla published its financial report for the third quarter, after which the value of one Tesla share in just one day rose by $ 10 and crossed the psychological mark of $ 900, setting a historic record. As a result, Tesla’s market capitalization has surpassed the $ 908 billion mark.

Today, growth continued, and when it became known about the receipt of a large order from the car rental company Hertz, Tesla’s capitalization exceeded $ 1 trillion.

Usually, car manufacturers do not advertise deals with car rental companies, as they usually sell relatively unpopular models at a discount. But in Tesla’s case, Hertz’s decision to order 100,000 EVs by the end of 2022 showed investors that EVs are no longer a niche product and could dominate the mainstream car market in the near future.

“Electric vehicles are mainstream right now and we are just starting to see an increase in global demand and interest,” Hertz interim CEO Mark Fields told Reuters.

Tesla CEO Elon Musk has set a goal of increasing sales by an average of 50% annually, eventually reaching 20 million a year. This will be more than double that of current sales leaders Volkswagen AG and Toyota Motor.

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