Welcome to issue number 17 of the Just Auto magazine
Battery electric vehicles (BEVs) on a roll
The US Battery Electric Vehicle (BEV) market closed 2022 with a 76% year-on-year growth rate and exceeded a 5% market share, nearly doubling the prior year’s share of 2.7%. However, a quick look at our data across the world shows that volumes are considerably larger in Europe and China. Our feature in the In Depth section of this magazine asks: How does the growing US EV market stack up against other major EV regions?
The first quarter of this year saw a number of important announcements from vehicle manufacturers that address the energy transition ahead, in terms of supply chains (notably batteries) as well as future product. Major strategic shifts are just beginning; there’s a long way to go over the next decade, but decisions are now being taken with a view to the industry’s increasingly clear direction of travel. Ford, for example, has decided to rebalance its European supply chain as well as invest in a new LFP battery plant for North America.
Ford is far from alone in facing the big challenge to reconfigure its supply chain and rebalance its manufacturing footprint for future electric vehicles. Read our comment piece on this in the Comment section: Ford’s need to bite the BEV bullet.
In this issue, we also explore Tesla’s need for a factory in Mexico and the possibility of smarter EV charging behaviour in a world of bidirectional chargers.
Look out also (see the In Data section) for the steady progress of Hon Hai Technology Group, better known as Apple Inc’s main manufacturing subcontractor Foxconn, in developing its automotive supply chain and capabilities. Hon Hai has been expanding aggressively in the global EV sector in the last few years as it looks to reduce its dependence on putting together iPhones for Apple.
Busy times (and set to get busier) in EVs and EV supply chains.
Dave Leggett, Editor