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Xiaomi shares jump after Lei Jun’s announcement of EV release date

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After Lei Jun, CEO of Chinese smartphone giant Xiaomi, announced that the company would begin mass production of its own electric vehicles in the first half of 2024, Xiaomi stock has responded with a rise. Immediately after the release of this information, Xiaomi shares in Hong Kong jumped more than 5%. The market cap is $ 564 billion.

Back in March, Xiaomi announced that it plans to invest $ 10 billion in the auto business over the next 10 years. These plans were confirmed last month when Xiaomi officially registered its electric vehicle business, Xiaomi EV Inc. The new company now employs 300 employees, and Lei Jun personally heads the team, who said that he was ready to risk everything and very much believes in the success of this project.

The potential for the Chinese electric vehicle market is enormous. In this country, almost one in five cars registered in the last month can be recharged. Even the Chinese search giant Baidu launched its own electric car company in January.

Over the past few years, China’s electric vehicle sector has received favorable government assistance, which has boosted the industry’s growth. There will be 1.9 million electric vehicles sold in China in 2021, up 51% from last year, according to research firm Canalys.

When Xiaomi launches its own electric vehicles in 2024, it will face a lot of competition from companies like BYD, Nio and Xpeng, as well as, of course, Tesla.

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Electric Cars

I bought a Tesla – share with your friends. Tesla app highlights future car sharing features

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Tesla has long been talking about plans to introduce features related to the ability to share its cars. And now, hints of upcoming features appeared in the mobile application.

In the code of the new version of the Tesla app 4.3.1, three new features were mentioned:

  • Share your Tesla car with others
  • Vehicle sharing assets
  • Vehicle sharing endpoints

The functions themselves, apparently, are not in the application yet, but from the names we can understand what to expect from the upcoming updates. Tesla already allowed owners to add other users through a feature on its site last year. Tesla is now looking to integrate the same functionality into its mobile app.

Such a function will allow not only to easily and simply share a car with friends or family members, but also, for example, rent out your car for a short-term rental as part of a car-sharing service, which Tesla has talked about more than once.

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Electric Cars

In Norway, they practically stopped buying cars exclusively with internal combustion engines.

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At the end of November, Norway again demonstrated an incredible level of electrification of the car market.

73.8% of all new cars sold in November were fully electric. This is less than in September, when the indicator was 77.5%.

However, if we add hybrids to the calculations, then the figure in November will grow to 94.9% against 91.5% in September. That is, the share of electric vehicles has slightly decreased, and hybrids have grown significantly, and as a result, the share of electrified cars has grown in general.

In more detail, 356 gasoline vehicles, 416 diesel vehicles, 3,288 hybrid vehicles and 11,274 all-electric vehicles were sold in Norway in November. The shares of the above segments are respectively 2.3%, 2.7%, 21.1% and 73.8%. For comparison, a year earlier the corresponding indicators were 5.1%, 5.4% 33.3% and 56.1%.

Market leaders last month were:

  • Tesla Model Y (1,013 units)
  • Tesla Model 3 (771 units)
  • Volkswagen ID.4 (725 units)
  • Audi Q4 e-tron (661 units)
  • Nissan Leaf (655 units)

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Electric Cars

Toyota will move to electric vehicles as slowly as possible. At least in Western Europe

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Toyota is a fairly active opponent of the rapid transition to electric vehicles, but it has nowhere to go.

Recently, the European division of the company presented its 14-year development plan called Kenshiki (“discernment”). The main attention there is paid precisely to the transfer of cars to “green” energy sources.

In particular, the company expects that by 2030 in Western Europe, sales of ZEVs (electric vehicles and hydrogen cars) will reach at least 50%. The company also notes that it will be able to increase the production of such cars if there is demand.

Moving beyond 2030, we anticipate further increases in demand for ZEVs and Toyota will be poised to achieve a 100% reduction in CO2 emissions in all new vehicles in Western Europe by 2035 if sufficient infrastructure for hydrogen charging and refueling is in place by then. and the capacity of renewable energy sources will increase, which will require

At the same time, Toyota’s plans here clearly coincide with the European Green Deal program, which was announced in the summer. That is, Toyota is not going to be the fastest in this race, but intends to switch to such cars as carefully and slowly as the laws of a particular market will allow.

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