NEW YORK, December 8, 2016 /PRNewswire/ --
The electric vehicle (EV) market continues to grow and could be a glimpse into the future of automobiles. Now the question is
how long will it take to transition from traditional cars to EVs. EVs are powered either by batteries or other energy
storage devices. One metric at which analysts are looking at is the price and efficiency of such batteries. As technology
improves and costs of production falls, EVs will be more easily accessible for mass production for the consumer. At the same
time, growing environmental concerns and increasing greenhouse gas emissions have already made several states in the U.S and
China to adopt incentives for companies to develop the tech further, which would accelerate the
transition. Tantech Holdings Ltd (NASDAQ: TANH), Tesla Motors Inc. (NASDAQ: TSLA), Kandi Technologies Group Inc. (NASDAQ: KNDI),
General Motors Company (NYSE: GM), Ford Motor Company (NYSE: F)
According to a recent report from Technavio, the Electric Vehicle (EV)
Market in the US is expected to grow at a CAGR of 24.02% over the period by 2019. The EV market can be segmented
primarily into two- All-electric/Battery Electric Vehicle (BEV), and Plug-in Hybrid Electric Vehicle (PHEV). Data form this year
shows that these estimates are not far-fetched. Data from the first half of 2016 shows that about 64,296 new electric cars have
hit the road, which represents a 19% increase over the same period in 2015. Looking at this market globally, U.S is in
second place in production and selling of electric vehicles, following China. Forbes has
reported that sales were up a 162% to 170,000 units in the first half of the year in China,
which represents a total of about 170,000 cars.
Tantech Holdings Ltd (NASDAQ: TANH) together with its subsidiaries develops and manufactures electric double-layer
capacitor ("EDLC") carbon products for industrial energy applications and bamboo-based charcoal products, including a variety of
branded consumer products. The company is currently in the process of acquiring 100% interest in Suzhou E Motors Co., Ltd., a
specialty electric vehicles and power batteries manufacturer based in China.
On November 10th Tantech Holdings Ltd announced that, "the Ministry of Industry and
Information Technology of the People's Republic of China (MIIT) has included its three electric
vehicle models in the "Announcement of Road Motor Vehicle Manufacturing Enterprises and Products" (No.284 and No. 285 New Product
Catalog Announcement). The three vehicles are produced by the company's subsidiary Suzhou E Motors Buses Co., Ltd.
So far, together with previous approvals from the MIIT (No.264, No. 269, No. 274, No. 275 New Product Catalog Announcement),
the company has got approval for a total of 13 electric vehicle models. The MIIT's green light is key for alternative-energy
vehicle manufacturers to drive sales and gain market recognition. The company has obtained over 1000 orders for its medium-sized
electric buses.
The new electric bus ZQK6810EV, one of the three latest models approved by the MIIT, is driven by a lithium iron phosphate
battery. With a range of more than 250km (155 miles), the 8.1-meter-long bus can travel as fast as 100 km/h (62mph) and carry as
many as 34 passengers. The bus is particularly suited for use as shuttle buses at tourist attractions and airports, or commuter
buses run by companies.
"To seize the opportunity brought by China's strategic policy of promoting new energy
vehicles, we are utilizing our advantages, consolidating all the high-quality resources and increasing investment in research and
development," said Zhengyu Wang, chief executive of TANH. "We aim to launch ten new energy
vehicles this year and will continue to improve in the NEV segment. Most customers are satisfied with our products and we are in
talks to obtain more orders.""
Tesla Motors Inc. (NASDAQ: TSLA) in its most recent quarterly earnings report, showed profit and this is after 12
quarterly losses amid a push to generate cash for building its $35,000 Model 3. Tesla has
previously promised to increase annual production to 500,000 cars by 2018, from just about 50,000 in 2015. The company has
delivered in line with its estimates in the third quarter, delivering 24,500 electric cars during, including 15,800 Model
S sedans and 8,700 Model X utility vehicles. As for the company's grand project, the Gigafactory in Nevada, Tesla was rewarded a $1.3 billion in incentives from the state of
Nevada, yet it has only received a fraction of it so far. Slowly the company unlocks portions of
the fund as it reaches job and investment requirements under the agreement.
Kandi Technologies Group Inc. (NASDAQ: KNDI) is a Chinese based company focused on the development of pure electric
vehicles and manufacturing components for such vehicles. The company designs, develops, manufactures and commercializes their
products, which are distributed in China and global markets. Kendi's subsidiary, Jinhua Kandi
New Energy Vehicles Co., Ltd., holds battery packing production rights. On November 29th the
company has announced that it has received a second subsidy payment of RMB 100 million
(approximately USD 14.5 million) from the Hainan Provincial Government.
General Motors Company (NYSE: GM) has recently announced the new version of Chevrolet Bolt EV, the company's signature
electric car. The starting price is $37,495 and has an EPA-estimated range of 238 miles on a
single charge. It is the first mass-market all-electric vehicle, as Tesla's Model 3 is expected to hit the roads in the end of
next year.
Ford Motor Company (NYSE: F) has announced this December that it has expanded its electrified vehicles research and
development program in Europe and Asia this year, creating a
"hub and spoke" system that allows the global team to further accelerate battery technology and take advantage of market-specific
opportunities. The global expansion also allows Ford's Electrified Powertrain Engineering teams to share common technologies and
test batteries virtually, in real time, to develop new technology faster while reducing the need for costly prototypes.
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