EVs Entered 2021 With A Bang

2021 is set to be a busy year for an automotive industry that is charging ahead toward an electric future. Nio NIO saw its stock surge 12% on Monday after it reported record monthly, quarterly, and yearly delivery numbers for the end of 2020. Tesla TSLA also impressed investors with its 2020 delivery figures, jumping 3% on Monday.

Nio and Tesla

Tesla missed its target by just a few hundred vehicles as it delivered nearly 500,000 vehicles in 2020. On the other hand, Nio delivered a record 7,007 electric vehicles in December, contributing to 43,728 vehicles for the whole year, marking YoY growth of 121% and 113%, respectively. On January 9^th, Nio plans to reveal its new sedan model and detail the latest developments on its autonomous driving technologies. It will be the fourth day of its Nio Day event.

Rivian

Business Insider reported EV startup Rivian is close to landing a massive new investment that could bring its value to $25 billion. This startup that counts on Amazon as both its investor and customer is set to start delivering its R1T pickup and R1S SUV this summer. Rivian's R1T and Tesla's Cybertruck are expected to make a splash in the pickup market.

Worksport

Worksport Ltd WKSP revealed it has raised over $1.1 million from its Regulation A public offering. Although the offering can remain open until November this year, it could close ahead of schedule considering over 25% of the target amount has been received. Last years saw Worksport launch its The TerraVis solar system and entered partnerships with Atlis and Hercules electric pickupsmanufacturer.

Outlook

Some companies saw the writing on the wall early enough and have a fighting chance of riding the storm, such as Volkswagen VWAGY, Renault RLNY-Nissan NSANY, Hyundai HYMTF-Kia and Groupe PSA, which includes Peugeot PUGOY. New entrants keep coming. Some traditional automakers will be forced to admit defeat, just like centuries-old banks that collapsed during the 2008 crisis. This is why even big oil is getting scared of electric vehicles as they are threatening their whole existence. The automotive industry is to face more change during this decade than it did during the last century, as bans on the sale of new petrol and diesel cars will arrive by 2025 in Norway. UK, Denmark, Germany, India and Sweden will board the ban train by 2030.

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