- Volvo says on Tuesday to be fully electric by 2030
- Ford says to be fully electric in Europe by 2030
- Jaguar is to be fully electric by 2025.
Electric Vehicle stocks have been hot for 2020 and 2021 with a strong appreciation and investor interest in the sector. Shares such as NIO, LiAuto, Churchill Capital, and Lucid Motors have all been on the minds of traders. Especially in 2021 as new retail money chases the sector. Tesla joining the S&P 500 was the big coming of age for electric vehicle stocks.
Stay up to speed with hot stocks' news!
Competition from mainstream auto manufactures is set to intensify though as recent announcements continue.
On Tuesday Volvo said its entire offering is to be fully electric by 2030.
On Feb 15 Jaguar Landrover said its Jaguar brand is to be fully electric by 2025 and by 2030 the entire Jaguar/Landrover range would be electric.
Also in February Ford said it is to be fully electric in Europe by 2025.
Bentley said in November that its lineup will be fully electric by 2030.
Toyota already has been one of the first manufacturers to move into the hybrid space. Toyota says it is to generate half of its sales from electric vehicles by 2025.
Volkswagen aims to have 40% of its fleet fully electric by 2030.
Honda said that it aims for a full range of electrified cars by 2025 and recently doubled down saying by 2022 all its cars would have some form of electrification.
The EU proposed a draft document in September looking to further tighten emission limits, further adding to pressure on legacy automakers to speed up the transition to electric. German automakers have been reticent as electric cars require around a fifth of the parts of a combustion engine so job losses are feared. The auto sector in Germany is a major employer and exporter. Reuters reports that French car lobby group PFA estimates up to 15,000 jobs could be lost in France linked to a move from diesel to electric.
What is clear is the electric vehicles (EV's) have gone mainstream and the trail initially blazed by Tesla is to become the norm over the next 5-10 years. This has ramifications for the EV sector and EV stocks will have to adapt to this new reality.
What could be interesting is if any potential mergers between legacy auto manufacturers and EV companies mean the sector becomes "in play" or if legacy manufacturers decide to do it themselves. Some EV manufactures will fail, some will thrive and some may merge!
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