he electric vehicle boom shows no signs of cooling. In fact, companies, like Tesla Inc. (NASDAQ: TSLA), Nio Inc. (NYSE: NIO), Ford Motor (NYSE: F), and General Motors (NYSE: GM) are only accelerating production. Not only is the news fueling EV stocks, it’s generating big interest in the metals needed in lithium-ion batteries, including graphite, used for the anode of energy storage. There’s so much demand, the global graphite market could be worth up to $36.88 billion by 2030 from $19.09 billion in 2019, according to P&S Intelligence. esla Inc. has released its financial results for the first quarter of 2022 by posting an update on its Investor Relations website. Please visit https://ir.tesla.com to view the update.
Nio Inc. announced its unaudited financial results for the third quarter ended September 30, 2022. “NIO delivered 31,607 vehicles in the third quarter of 2022, representing a solid growth of 29.3% year-over-year and achieving a record-breaking quarterly delivery. Following the delivery of our new product lineup based on NIO Technology 2.0 catering to different market segments, we have witnessed strong growth momentum in user demand and robust foot traffic, especially after the debut of ET5s in stores from September, and expect the ET5 delivery will support a substantial acceleration of our overall revenue growth in the fourth quarter of 2022. To meet the growing user demand and shorten the waiting time, we have been working closely with supply chain partners to accelerate production and delivery," said William Bin Li, founder, chairman and chief executive officer of NIO.
Ford Motor strengthened its position as America’s No. 2 electric vehicle brand. Ford’s electric vehicle momentum continued in October with sales of its EV lineup up 120 percent over last year, about two times the rate of growth of the overall EV segment. F-150 Lightning continues as America’s best-selling electric truck with sales of 2,436 – its best monthly sales performance since its introduction this year. America’s best-selling electric van, E-Transit, climbed 71.5 percent compared to September on sales of 770 vans. Mustang Mach-E sales grew 7.3 percent over last year on sales of 3,055.
General Motors and battery manufacturer Microvast will work together to develop specialized EV battery separator technology and build a new separator plant in the U.S., which is expected to create hundreds of new jobs. This work will be supported by a $200 million grant from the U.S. Department of Energy's Battery Materials Processing and Battery Manufacturing initiative. Separators are safety-critical EV battery components that serve to separate the anode from the cathode, allowing for ion transfer. GM will contribute its cutting-edge separator and coating technology to the collaboration with Microvast. The companies will work together to develop new separator technology that can help improve EV safety, charging and battery life. This advanced technology is designed to enhance thermal stability of EV batteries and work with nearly all types of lithium-ion cells, including graphite, silicon, and lithium-metal anodes and nickel-rich, cobalt-free, lithium iron phosphate-type and high-voltage cathodes.