This week, we have news from Honda, Toyota, Global EV Sales, and US States following California's lead. Here's our top EV News for the week of September 2, 2022.
Check out the full newsletter for the week which includes more Electric Vehicle News, and also news about Autonomous Vehicles.
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Honda and LG Energy are partnering to build a $4.4 billion EV battery plant in the United States. Honda and LG will join GM, Ford, Rivian, and Hyundai in targeting battery manufacturing on American soil. A specific location hasn’t been announced yet, but sources expect the plant to begin production of advanced lithium-ion battery cells by the end of 2025. The trend is to locate near other manufacturing facilities, which makes sense. In that case, Honda has manufacturing facilities in Ohio, Alabama, and Indiana. What’s your guess?
Toyota announced that the company is investing $5.27 billion in Japan and the US to manufacture batteries for electric vehicles. This is an additional $2.5 billion for manufacturing in the US, now totaling a $3.8 billion investment in its NC operations. Between 2024-2026, Toyota’s battery production capacity is estimated to increase by 40 gigawatt-hours. Add Toyota to the list above. We see you, Honda.
Battery Electric Vehicles made up 10% of new vehicle sales globally in July with global plugin registrations up 61%. There is an expectation that September will be record-breaking with one million EV registrations in the month.
Globally, BYD takes the top spot for sales in July, with three models in the top five. Wuling and Tesla round out the top five manufacturers for sales in July. September is going to be a great month. Expected 1 million EVs registered, my birthday, and the first full month of college football. Life is good.
As most of you know by now, California is set to phase out gas-powered vehicles completely by 2035. All sales of new cars, pickups, and SUVs will be electric, as mandated by law. With this news, several other states, like Virginia, Massachusetts, Oregon, and Washington, will follow in California’s footsteps. In total, 15 states will phase out gas-powered vehicles by 2035. The future is electric.
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