Lordstown Motors and Hon Hai Precision partner for EV production
Welcome to The Fly’s latest edition of “Charged,” where we look back at some recent analysts’ notes, news and activity in the electric vehicle and clean energy space.
Q3 DELIVERIES: Tesla (TSLA) announced that in the third quarter, the company produced 237,823 vehicles and delivered 241,300. Model S/X production was 8,941 and deliveries were 9,275. Model 3/Y production was 228,882 and deliveries were 232,025. The total subject to operating lease accounting was 7%. Tesla said, “Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more.”
SEPTEMBER DELIVERIES: Li Auto (LI) announced that the company delivered 7,094 Li ONEs in September, up 102.5% year over year. The company’s deliveries for the third quarter were 25,116, up 190.0% year over year. Total deliveries of Li ONEs in the first nine months of 2021 reached 55,270 and the cumulative deliveries of Li ONEs as of September 30 reached 88,867. “Deliveries of Li ONEs in September moderated compared with the prior month due to the prolonged chip supply shortage. Responding to the continually rising orders since the release of the 2021 Li ONE, we are taking multiple measures to ensure the supply of the auto parts, aiming to shorten the waiting time of delivery for our users,” said Yanan Shen, co-founder and president of Li Auto.
Meanwhile, Nio (NIO) also announced its September delivery results. The company delivered 10,628 vehicles globally in September, an all-time high monthly record representing a robust growth of 125.7% year-over-year. The deliveries consisted of 1,978 ES8s, its six-seater or seven-seater flagship premium smart electric SUV, 5,260 ES6s, the company’s five-seater high-performance premium smart electric SUV, and 3,390 EC6s, its five-seater premium smart electric coupe SUV. Nio delivered 24,439 vehicles in the third quarter, representing an increase of 100.2% year-over-year and exceeding the higher end of the company’s quarterly guidance. As of September 30, cumulative deliveries of the ES8, ES6 and EC6 reached 142,036 vehicles. On September 30, Nio opened its Nio House and completed its first batch of vehicle deliveries in Norway.
LUCID AIR PRODUCTION BEGINS IN ARIZONA: Lucid Group (LCID) kicked off its Production Preview Week, a series of events during which Lucid opened the doors of its Advanced Manufacturing Plant and Lucid Powertrain Manufacturing factories in Casa Grande, Arizona, to members of the media and investor communities, policymakers, and Lucid Air Dream Edition customers. The first customer-quality Lucid Air luxury electric sedans rolled off the assembly line on Tuesday during the event at AMP-1, which included a factory commissioning ceremony with Arizona Governor Doug Ducey. Governor Ducey joined other policymakers and invited guests in highlighting Lucid’s local job creation and economic development, increase in high-tech manufacturing footprint, and plans for future expansion in the state. Lucid’s Arizona manufacturing facilities are expected to bring a projected economic output of $9B to the state in 2024, as well as a projected 15,000 jobs annually by 2024, the company said.
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