Carmakers adjust electrification plans as EV demand slows
Sept 6 (Reuters) -Japan's Toyota Motor 7203.T has reportedly slashed its electric vehicle production plans for 2026 by a third, the latest automaker to roll back EV plans amid slowing demand.
The global sales of EVs - either fully electric or plug-in hybrid - rose 20% in the first half of 2024, slower than expected, data from market research firm Rho Motion showed. Europe saw only 1% growth in the same period.
Sales of hybrid electric cars, seen as a more affordable compromise between all-combustion and all-electric, have meanwhile increased.
These carmakers have recently tempered their expectations (in chronological order starting with the most recent):
TOYOTA 7203.T:
The world's biggest automaker plans to build 1 million EVs in 2026, compared with its earlier announced sales target of 1.5 million, the Nikkei business daily reported on Sept. 6.
Toyota said in a statement there was no change to its intention to produce 1.5 million EVs per year by 2026 and 3.5 million by 2030. It said, however, that the figures were not targets but benchmarks for shareholders.
VOLVO CARS VOLCARb.ST
The Swedish automaker scrapped on Sept. 4 its target of going all electric by 2030 and said it expected to still be offering some hybrid models at that time.
It aims for 90-100% of cars sold by 2030 to be pure EVs or plug-in hybrids, while up to 10% would be so-called mild hybrids.
VOLKSWAGEN VOWG_p.DE
Europe's biggest automaker by sales hasn't changed its 2030 targets for EVs to make up 70% of sales in Europe and 50% in the U.S. and China, despite repeatedly warning about slowing demand.
However, its group technology chief said in August VW's battery factory building plans were not set in stone and depended on the EV demand.
FORD F.N
Ford in August lowered the share of planned annual capital spending dedicated to pure EVs to about 30% from 40%, given its increasing emphasis on hybrids, and said it was killing a planned electric SUV and pushing back a new electric version of its best-selling pickup.
PORSCHE P911_p.DE
The German premium carmaker in July watered down its EV ambitions, saying it could only hit its previously communicated aim of 80% all-electric sales by 2030 if demand and developments in the EV sector warranted it.
RENAULT RENA.PA
In early 2022, CEO Luca De Meo guided for all the Renault brand's sales to be fully electric by 2030, but two years later the target was changed when the brand CEO Fabrice Cambolive said in an interview with ANE that Renault was seeing a dual strategy with both EVs and combustion-engine cars for the next 10 years, thus beyond 2030.
In July, De Meo also expressed doubts over the timeline for fully shifting its European production to EVs.
GENERAL MOTORS GM.N
In June, GM cut its EV production forecast for 2024 and in July it declined to reiterate its forecast to produce 1 million EVs in North America by the end of 2025.
MERCEDES-BENZ MBGn.DE
The German luxury carmaker said in February that sales of EVs, including hybrids, would account for up to 50% of the total by 2030, five years later than its forecast in 2021.
It has also slowed its battery cell capacity plans as the EV demand did not pick up.
BENTLEY MOTORS
Bentley had aimed for an all-EV lineup by 2030, but in March then-CEO Adrian Hallmark said hybrids would likely still be on sale after that.
ASTON MARTIN ALM.L
The British automaker in February delayed the launch of its first EV due low demand.
Reporting by Andrey Sychev, Greta Rosen Fondahn, and Agnieszka Olenska in Gdansk; editing by Milla Nissi
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إخلاء المسؤولية: تتيح كيانات XM Group خدمة تنفيذية فقط والدخول إلى منصة تداولنا عبر الإنترنت، مما يسمح للشخص بمشاهدة و/أو استخدام المحتوى المتاح على موقع الويب أو عن طريقه، وهذا المحتوى لا يراد به التغيير أو التوسع عن ذلك. يخضع هذا الدخول والاستخدام دائماً لما يلي: (1) الشروط والأحكام؛ (2) تحذيرات المخاطر؛ (3) إخلاء المسؤولية الكامل. لذلك يُقدم هذا المحتوى على أنه ليس أكثر من معلومات عامة. تحديداً، يرجى الانتباه إلى أن المحتوى المتاح على منصة تداولنا عبر الإنترنت ليس طلباً أو عرضاً لدخول أي معاملات في الأسواق المالية. التداول في أي سوق مالي به مخاطرة عالية برأس مالك.
جميع المواد المنشورة على منصة تداولنا مخصصة للأغراض التعليمية/المعلوماتية فقط ولا تحتوي - ولا ينبغي اعتبار أنها تحتوي - على نصائح أو توصيات مالية أو ضريبية أو تجارية، أو سجلاً لأسعار تداولنا، أو عرضاً أو طلباً لأي معاملة في أي صكوك مالية أو عروض ترويجية مالية لا داعي لها.
أي محتوى تابع للغير بالإضافة إلى المحتوى الذي أعدته XM، مثل الآراء، والأخبار، والأبحاث، والتحليلات والأسعار وغيرها من المعلومات أو روابط مواقع تابعة للغير وواردة في هذا الموقع تُقدم لك "كما هي"، كتعليق عام على السوق ولا تعتبر نصيحة استثمارية. يجب ألا يُفسر أي محتوى على أنه بحث استثماري، وأن تلاحظ وتقبل أن المحتوى غير مُعدٍ وفقاً للمتطلبات القانونية المصممة لتعزيز استقلالية البحث الاستثماري، وبالتالي، فهو بمثابة تواصل تسويقي بموجب القوانين واللوائح ذات الصلة. فضلاً تأكد من أنك قد قرأت وفهمت الإخطار بالبحوث الاستثمارية غير المستقلة والتحذير من مخاطر المعلومات السابقة، والذي يمكنك الاطلاع عليه هنا.
