July- Another Strong Month On The EV Front

July was another strong month for EV sales. In Norway, where all-electric cars make up almost two-thirds of all new registrations, new EV sales were up 33% more than a year ago. Porsche Automobile Holding POAHY revealed it sold 45 Taycans in July, bringing its year-to-date total to 414 whereas MG sold 130 ZS EVs in June, bringing its total for the year to 859 vehicles. German giant Volkswagen Group VWAGY delivered 5,800 VW ID series electric vehicles in China over the month, up from June's nearly 3,000. But it is Nio Inc NIO, and Xpeng Inc XPEV that did all the talking in the previous month.

Norway

8,897 new passenger plug-in electric cars were registered in the country, which is 33% more than a year ago and making up 84.7% of the total car market. The best-selling models of the months were the Ford Motors' F Mustang Mach-E with 898 sold units and Volkswagen-owned Skoda Enyaq iV behind with 558.

NIO

NIO reported that it sold 7,931 EVs in July, which is a 125% YoY increase, which is near its June record of over 8,000. By the looks of it, Nio has been operating at its maximum manufacturing capacity during recent months. Moreover, it seems there is still more room to run. NIO sold almost 50,000 electric cars in China this year. Over the last 12 months, this accumulates to 125,528 electric cars and over 75,900 falls. Time will tell if NIO can sell 100,000 units this year.

Reports from China reveal NIO's power swap stations have been equipped with 100 kWh battery packs, upgrading from 70 kWh and 84 kWh. The wide battery swap station network is one of its main differentiators from Tesla Inc TSLA, Boyd Gaming Corporation BYD, and Xpeng. NIO ES8 launch is also due in Europe with the first deliveries to customers expected in September.

Xpeng's EV Sales Reach New Record

In July, Xpeng's volume exceeded NIO's, achieving the second monthly record in a row. Moreover, a new model is scheduled to enter the market very soon. It reported 8,040 electric car deliveries, 228% more than a year ago. Xpeng's portfolio consists of two models: the G3 crossover/SUV and the P7 sedan. Both models have experienced consistently improving sales. Xpeng P7 improved 269% YoY and G3 was up 145% YoY, together making up a YoY increase of 228%. Over the recent 13 months, 40,612 units were sold.

After introducing the lithium iron phosphate battery options for both models, Xpeng will refresh the G3 with a new G3i mid-phase facelift version in the near future. Customer deliveries are also scheduled for September.

EV Sales Are Speeding Up

With the world's first electric pickup coming soon, these figures are bound to continue accelerating, even in the US whose favorite vehicle is the pickup. Ford Motor is preparing the electric version of its beloved F-150, General Motors GM confirmed a new electric truck and a van this week without stating the exact date, and then there are startups. Amazon.com, Inc. AMZN-backed Rivian is one of the candidates expected to deliver the world's first electric pickup even before Tesla Inc's Cybertruck.

There are also Atlis Motor Vehicles and Hercules Electric Vehicles who will deliver tech-sophisticated and luxurious models, respectively, next year. Both models will be equipped with Worksport Ltd's WKSP intellectual property technology, the revolutionary TerraVis that brings solar power to the EV table.

All in all, we're in for many blockbusters on the EV repertoire.

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