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| Hey Insiders — Today we're bringing you the latest on Boeing's new possible delays, plus ChargeAmp's acquisition. Scroll down for news on Xiaomi, Tesla, and Stellantis. Let us know which areas you would like us to cover next. If you find this newsletter helpful, please share it with a friend or colleague. Thanks for reading Nicolas
p/mobilitynerd | |
| 1 | | New vehicle sales in the U.S., including retail and enterprise transactions, increased 15.4% YoY to 1,354,000 units in August. According to J.D. Power, the increase is attributed to higher inventories and strong demand for personal transport. More: - The firm estimates customers spent approximately $47.8B on new vehicles, the highest amount for the month of August, comprising a 10.5% increase versus 2022 levels.
- Prices are estimated to have seen a decline of 1.2% compared to August 2022, driven by an increase in sales of smaller vehicles that are marked at lower prices versus larger units.
- In 2023, global sales are expected to reach 86.8 million vehicles as the supply chain improves, up from the previous expectation of 86.4 million units.
- "In September, the main focus will be on any potential work stoppages that could hinder production. A disruption in production could create more asymmetry in the market and potentially extend the overall tight supply situation currently in place," said Thomas King, president of data and analytics at J.D. Power.
Q: Have recent price changes and inventories influenced your vehicle choice? Join the conversation here. |     | |
| 2 | | Boeing is warning airlines that a new defect in its 737 Max will delay deliveries. The manufacturer found fastened holes on the aft pressure bulkhead on some 737s. More: - Boeing has not confirmed whether the delay would change its projected 400 to 450 Max deliveries for the year; however, Spirit Aerosystems said there would not be a material impact on its delivery range for the year.
- The fuselage supplier said the flaw is only present in some aircraft as it has multiple suppliers for the aft pressure bulkhead.
- Year-to-date, Boeing delivered 309 aircraft, below Airbus' 381 planes for the same period.
- $BA was down 3.7% for the day and -1.02% WoW on Thursday morning.
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| 3 | | Electronics manufacturer Xiaomi has been granted a permit for vehicle production by China's National Development and Reform Commission. This makes Xiaomi the fourth brand to gain authorization for EV manufacturing in China since the end of 2017. More: - Xiaomi's EV venture, however, would still need permission from the Ministry of Industry and Information, which regulates technical and safety requirements.
- The company had previously earmarked a total of $10B over a decade for its auto segment, expecting to launch sales in H1 2024.
- Xiaomi is currently constructing factories with an output capacity of 200,000 EVs per year in Beijing.
- In other news, Lucid Group is said to be awaiting approval for production in China; however, it has been reportedly advised that the possibility of obtaining a permit is low.
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| 4 | | Stellantis is reportedly negotiating a partnership with Chinese EV manufacturer Zhejiang Leapmotor. This would follow previous interest by Volkswagen in working with the Leapmotor. More: - Stellantis said last month that China's decision to restrict the export of key metals for semiconductors and electric vehicles should not push Western countries out of the market.
- The European automaker currently has a joint venture with Dongfeng Motor Group to sell Citroën and Peugeot cars in China.
- In July, Volkswagen announced it would spend $700M in its joint EV venture with XPeng in China.
- Leapmotor raised $803M by going public in Hong Kong in September 2022.
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| 5 | | Tesla signed a lease for three warehouse buildings encompassing 1 million square feet in Kyle, Texas. The new site was confirmed by the mayor of the locality, Travis Mitchell. More: - Reports have surfaced that Tesla could eventually lease the entire industrial park for a total of five buildings within 1.4 million square feet.
- The Kyle 35 Logistics Park, which began construction in June 2022, cost developers a total of $115M.
- The site is located 33 miles from Tesla's Giga Texas in Austin.
- Earlier this month, Tesla signed a lease for a 927,000-square-foot warehouse at the Matrix Logistics Center in Newburgh, New York.
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| 6 | | China-based charging network NaaS Technology acquired Sweden-based Charge Amps for $66.4M. Charge Amp develops EV chargers and accessories, including temperature-sensing cable Ray. More: - NaaS sees the acquisition as a way to expand in Europe. Charge Amps has 120 employees across seven countries, with sales in 15 markets.
- NaaS is working with Hyundai Motor to develop charging management systems for its EVs in China.
- As of the end of March, 575,000 charging points across 55,000 locations were connected to the NaaS network.
- $NAAS was up 5.94% for the day and +10.62% WoW on Thursday morning.
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- Transport Canada is allocating $77M for new cargo infrastructure at Toronto and Ottawa airports.
- Tesla installed the first Magic Docks (CCS1 adapters) at Superchargers in Canada.
- Qatar Airways is extending its partnership with FIFA.
- Volvo-backed home energy startup Dcbel raised a $50M Series B.
- Maersk is planning to deploy 500 small EVs across 26 cities in India for middle and last-mile distribution.
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 | Sr. Analyst | | Nicolas S. is a Sr. Analyst at Inside, covering transportation and startup trends. He is an avid map maker and data nerd. Nicolas has worked in the shared-scooter space, as well as advised e-bike and moped startups. Follow him at @MobilityNerd. | | This newsletter was edited by Aaron Crutchfield | |
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