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The race to make efficient and accessible electric vehicles is accelerating. Business leaders, market participants, and policymakers increased their investments last year – marking this year as the potential time to embrace a major EV.
Despite the pandemic coronavirus impact on the global economy and restrictions on human travel, global EV adoption expanded in 2020. Global EV sales rose 43% to 3.24 million vehicles in total, according to Swedish consultancy EV Volumes. The activity was led by Europe, which ranked China for the first time in five years as the largest source of global EV purchases. In Norway, there were more cars on the electric road than there were, marking a world record. Last year electric-battery vehicles jumped to 54.3% of all new vehicles sold in the country, which exempts all EV sales from taxes, according to the Norwegian Road Federation.
The U.S.-based EV titan delivered 36% more vehicles last year than it did in 2019, according to the company’s quarterly report. A total of 499,550 vehicles delivered in 2020 were just shy of the manufacturer’s target of 500,000 EVs. Investors were willing to support the stable solution of car transport, as seen from the company’s stock rising 24.3% in December alone after Tesla debuted on the S&P 500 index on December 21st.
Now, “2021 is the year of the electric car,” Andy Palmer, former head of Aston Martin and former chief operating officer at Nissan, told S&P Global Platts.
EV sales in China are likely to rise 40% this year, up from 1.8 million units sold from 1.37 million last year, according to the China Automobile Manufacturers Association. The group’s deputy chief engineer, Xu Haidong, linked the expected growth to the country’s continued stimulus policies on vehicle consumption, manufacturers’ sales incentives, and sustainable economic growth, according to S&P Global Platts.
Opinions are changing on how much transport will be electrified by 2030, the first year that the Paris Agreement aims to reduce ambitious emissions. By the time the International Energy Agency estimates that by then, the world’s EV fleet will destroy about 2.5 million barrels per day of oil production. BloombergNEF predicts that nearly 26 million EVs will be sold annually by 2030. Mr. Palmer, a former Nissan operating officer known for being in charge of the first mainstream EV, told S&P Global Platts to believes that the global automation industry will be made up of 35% to 40% battery technology vehicles by 2030, when “passenger cars and buses are generally pure, heavy-duty vehicles like fuel cell powered trucks, and nothing more [will need] synthetic firewood [like for] drones [or] flying cars. ”
The UK aims to complete sales of emissions-driving vehicles by 2030 and expects to invest nearly £ 3 billion in electric vehicle production in the decade to the country. the very beginning of the world EV market. EV sales in the UK are already rising – but their high prices may be hampering widespread adoption rates in the short term. Looking ahead, the lack of supply chain infrastructure to produce the batteries needed to deploy more EVs on roads could delay such efforts in Britain and beyond. The lack of supply chain transparency has corrupted the regulatory measures of EV manufacturers worldwide.
“Battery cell production is the lowest level constraint slowing down a sustainable energy future,” Tesla CEO Elon Musk said on January 17. “A very important problem. ”
To be sure, tactics are emerging at a fast pace. Just last week, the Israeli company StoreDot announced the release of the first lithium-ion battery that was able to fully charge in five minutes. The innovation could be a disappointment that makes EVs cost-effective compared to the time it takes to refuel a petrol or diesel vehicle.
“The biggest hurdle in accepting electric vehicles is no longer spending, it’s a field concern,” StoreDot CEO Doron Myersdorf told the Custodian. “You are afraid of getting stuck on the highway or having to sit in a charging station for two hours. But if the driver’s experience is just like fuel [a petrol car], this dilemma is gone. ”
Today Monday, January 25, 2021, and here is essential information today.
Uncertainty in the World Economy
Pfizer vaccine manufacturers, COVID-19 will face the next introductory challenge: Hesitancy
COVID-19 vaccines are now arriving slowly but surely in communities around the world, where healthcare experts are working to combat hesitancy from some to roll up the sleeves.
– Read the full article from S&P Global Market Intelligence
The future of credit
US Corporate Credit Forecast 2021: Economic and Political Transition
As the U.S. moves to a new administration, in which a majority of Democrats favor President Joe Biden in both houses of Congress, investors are betting on what key initiatives The White House ‘s prospects are likely to materialize – and will have the greatest ramifications for corporate America.
– Get the full report from S&P Global Ratings
New Year brings new rise in U.S. corporate bankruptcy
More companies turned to U.S. bankruptcy courts in the early days of the New Year, a sign of continued struggle for many businesses during the coronavirus era.
– Read the full article from S&P Global Market Intelligence
There were few oil spills in the oil, gas sector in Q4’20, but rediscovery could be short
The pace of bankruptcy in the oil and gas sector slowed in the fourth quarter of 2020, but some experts in the field believe that the amount of debt under pressure on upstream companies is increasing in a break in 2021 is almost inevitable.
– Read the full article from S&P Global Market Intelligence
Market vulnerability
Netflix Surges On Earnings; Investors chew AMC’s debt deal
During an important week in Washington, employment and other events encouraged a move for technology and entertainment stock.
– Read the full article from S&P Global Market Intelligence
Pressure banking department
Bank of France Outlook 2021: All About Efficiency and Quality of Assets
S&P Global Ratings believes that French banks entering 2021 are able to absorb COVID-19 crashes. However, there is unlikely to be a rapid return to prepandemic profits.
– Get the full report from S&P Global Ratings
Credit Outlook clarifies at major US banks how loan growth will continue
Major U.S. banks announced a ban on the spread of credit-loss investments in their 2020 fourth-quarter earnings, reinforcing the fact that they may be able to reverse the depressing recession with a moderate-to-small-scale pandemic .
– Read the full article from S&P Global Market Intelligence
Secure firms should benefit from economic recovery in 2021 as risks abound
As we enter 2021, one of the key factors for the credit quality of global securities firms is the economic and market downturn from the COVID-19 pandemic; how officers, markets and companies deal with it; and, hopefully, the recovery from it.
– Get the full report from S&P Global Ratings
Technology & Innovation
Brexit complicates the politics of data privacy between the US, the EU and the UK – legal experts
Experts say Britain could be seen under the EU’s Common Data Protection Regulation, or GDPR laws, commonly seen as the world’s strictest data privacy rules – which could affect the UK’s digital trading relationship with its close ally, US.
– Read the full article from S&P Global Market Intelligence
Use of AI, Adoption Gains Momentum by Campaign Among Pandemic – Study 451
Artificial intelligence and machine learning technology are becoming increasingly common in enterprises across the globe, but its adoption rate in 2020 varied widely between sectors, according to a study by 451 Research, a unit of S&P Global Market Intelligence.
– Read the full article from S&P Global Market Intelligence
ESG during COVID-19
After 2020 global hydrogen demand demand decline, the market could rebound by 2022
Global hydrogen demand declined in 2020 due to the spread of coronavirus infection, but is expected to return sharply as government support increases and helps increase production capacity, analysts Jan. 21.
– Read the full article from S&P Global Platts
Southeastern U.S. wind developers battle for Momentum
Scout Clean Energy LLC, a Colorado-based developer primarily involved in unprecedented renewable energy projects, pledged in 2016 that a 9,000-acre slice of hilly countryside in Carroll County, Ark. Maintain the first wind farm in the state – and one of the few in the southeastern U.S..
– Read the full article from S&P Global Market Intelligence
Economic role eases anti-mining outlook jeopardizes Australia’s skills pipeline
The concentration of minerals in Western Australia capable of producing electric vehicles, and the role of the mining industry in “keeping the country afloat” through COVID-19, will protect the region from negative sentiment. has been jeopardizing its skills pipeline, according to Northern Star Resources Ltd. Executive Chairman Bill Beament.
– Read the full article from S&P Global Market Intelligence
The future of energy & goods
EU Ethanol representatives to consider Q2 production cuts as tight margins near full-time levels
European ethanol crushing margins have been under severe pressure as lower price prices have led to a sharp decline in demand due to coronavirus-led movement restrictions, as well as rally feed prices.
– Read the full article from S&P Global Platts
The U.S. is introducing new oil and gas leases, allowing it to hold federal land for 60 days
The U.S. Department of the Interior on January 20 suspended the sale and lease of new oil and gas on federal land and waters for 60 days, according to an order signed by Acting Secretary Scott de la Vega.
– Read the full article from S&P Global Platts
Written and compiled by Molly Mintz.