https://www.profitconfidential.com/green-energy/china-dominates-ev-market-america-will-narrow-gap/ China Dominates EV Market But America First Push Will Narrow the Gap George Leong, B.Comm. Profit Confidential 2021-04-13T07:30:01Z 2021-04-13 06:59:03 EV market green energy electric vehicle EV EV stock The push by the world toward carbon neutrality will drive green energy solutions over the next few decades. This means opportunities for investors. The area we re extremely bullish on is the electric vehicle (EV) market, where the U.S. could rapidly grow. Green Energy https://www.profitconfidential.com/wp-content/uploads/2021/04/power-supply-plugged-into-an-electric-car-being-charged-alternative-eco-energy-fuel-energy-battery t20 gLZ3ax-300x200.jpg
Race to Beat China Will Drive U.S. Electric Vehicle Strategy
As several carmakers bleed in the US and beyond, Tesla is profitable and according to Elon Musk, his electric car company and Ford are the only two carmakers in the US which have not gone bankrupt.
Tesla reported another profitable quarter as revenue hit $10.74 billion in the fourth quarter of 2020. In last year, Tesla achieved free cash flow of nearly $2.8 billion after spending more than $3 billion on building new factories and other expenditures. US automaker Ford last month announced to more than double its investment in electric and autonomous vehicles to $29 billion. The automaker had previously committed to spend $11.5 billion on electrifying its vehicle lineup through 2022.
Murugappa Group s Tube Investments India (TII) has said that it partnered with a Korean firm to design electric three wheeler. The Rs 38,000 crore Murugappa Group intends to enter complete automobile manufacturing through its group company TII, which is planning to make and sell electric three-wheelers. During an analyst call, Vellayan Subbiah, managing director, TII said that the company will start manufacturing and selling electric three wheelers by December to January time-frame. The technology for the EV three-wheeler, for which a prototype has already been developed, would be a combination of in-house as well as design support from a Korean company, he said without disclosing the company s name.
Read more about Matter bets on Indian EV market, targets $1 billion turnover by 2025 on Business Standard. "We are expecting the same thing that happened with 4G, the rate of adoption of 4G exploded above everyone s expectations, and that is what we are expecting with EVs as well," Matter Founder, CEO said
evTS Announces Agreement to Manufacture and Distribute Its FireFly® ESV in the United Kingdom ev Transportation Services, Inc.
BOSTON, Feb. 17, 2021 (GLOBE NEWSWIRE) via InvestorWire – ev Transportation Services Inc. (“evTS”), an electric vehicle manufacturer focused on the essential services and urban e-mobility markets, today announced it has entered into a cooperative agreement to have its FireFly
® ESV vehicles manufactured and distributed in the United Kingdom by Evtec Automotive, a U.K.-based electric vehicle technology group and part of the Stetford Group.
The agreement calls for assembly and distribution of 5,000 FireFly vehicles over the next 3 years in the U.K. and further grants Evtec rights to expand its distribution network to markets in Western Europe.