Polestar launches its first SUV
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Polestar launches its first SUV
- A new model launched by the Chinese carmaker Polestar, which is today in third place in terms of sales in Europe among all the Chinese carmakers present on this continent (behind MG and BYD) is not a trivial event, especially more than this new model is the brand's first SUV. This model named Polestar 3 (the Polestar brand being a subsidiary of the Chinese group Geely specializing in plug-in hybrid and battery electric vehicles derived from Volvo) intends to complete the carmaker's range currently composed of a sedan (Polestar 2) and a coupe (Polestar 1), these two models being on the D-segment (length around 4.60 m). While the Polestar 1 is equipped with a PHEV (plug-in hybrid) engine, the Polestar 2 and 3 are equipped with a fully electric engine (BEV).
- The new Polestar 3 is what we could call a high-end model because it measures 4.90 m long, with a wheelbase approaching 3.00 m (2.98 m) and its announced price is high as it is in a range between 85,000 and 95,000 euros in Europe.
- The Polestar 3 is equipped with an electric motor delivering 489 hp (360 kW) or 517 hp (380 hp), coupled with a 111 kWh battery allowing a range of 560 or 630 km depending on the version and the WLTP cycle.
- Banned in France until today due to a dispute concerning its logo, the Polestar brand will be distributed in this country from the second half of 2024. A new model, the Polestar 4, should be added to the range at that moment.
The Audi factory in Brussels is threatened with closure
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The Audi factory in Brussels is threatened with closure
- The Audi assembly plant in Brussels Forest (Belgium), which is a former Volkswagen factory, is one of the only two survivors (along with the Volvo assembly plant in Ghent) of the formerly flourishing Belgian automobile industry. This factory produced Volkswagen Lupo, Polo and Golf until 2009, then it produced Audi A1 and A3 until 2018, then finally Audi E-Tron from 2019.
- These battery electric Audi E-Trons which were renamed Q8 E-Tron in 2022 are produced in smaller quantities than the previous models, also produced in this factory, the peak of production having been reached in 2022 with 51,546 units, while the Brussels Forest factory produced 131,226 vehicles in 2012 and even 204,402 in 2005.
- The Audi E-Tron renamed Q8 E-Tron are in fact expensive models reserved for a wealthy class and the sale drop of battery electric vehicles in 2024 observed in several European countries (including Germany which ended in November 2023 ecological bonuses on this type of vehicle) did not help sales of this model in particular.
- Thus, sales of Q8 E-Tron did not exceed 8,130 units over the first five months of 2024, compared to 9,860 over the first five months of 2023 and 11,533 over the first five months of 2022. Over the same period of 2021, the Audi E-Tron achieved 13,156 sales.
- This too low sales volume (which the carmaker had not imagined when the model was launched) threatens the very existence of the Brussels Forest factory which could close in the short or medium term, if no replacement solution is found.
The production of Chinese vehicles outside China
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The production of Chinese vehicles outside China
- Chinese carmakers who have further increased their market share in China (62.5% market share for passenger cars in the first half of 2024 compared to 60% in the first quarter of 2024) are starting to take an interest in foreign markets and build there assembly plants, particularly in Europe and South America.
- As for Europe (excluding Russia), BYD (the leading Chinese automobile carmaker) has announced the construction of a factory in Hungary and another in Turkey, Chery has announced that it wants to produce vehicles in Spain (at the former Nissan site) and MG-SAIC has indicated that it is about to build an assembly plant in Spain, the Czech Republic or Hungary. If European put additional taxes on BEVs imported from China become truly effective, Chinese factories in Europe could multiply.
- As for Russia, Chinese carmakers assembled 150,000 cars there in the first half of 2024. Note: the breakdown by carmaker of this production in the first half of 2024 is not clear (differences in counting depending on the sources); we choose to show an “all brands” total on the left graph below.
- As for South America, BYD announced that it would take over the Ford plant in Camacari (Brazil) and produce vehicles there from the second half of 2024. Chery already produces vehicles in Brazil and JAC already produces vehicles in Mexico.
- As for Asia outside China, Chinese carmakers already have numerous production sites in Iran, India, Taiwan, Thailand, Malaysia, Indonesia and Pakistan, but still of relatively modest size.
- For its part, Geely is taking advantage of its Volvo factories to be able to acquire a global base. This carmaker thus has two factories in Europe, a factory in the United States and a factory in Malaysia, in addition to those located in China.
- In total, Chinese carmakers produced/assembled 475,000 vehicles outside China in the first half of 2024 (including 190,000 Volvos) but this volume is expected to increase sharply due to the new locations announced.
China, Europe and USA represent 93% of global BEV sales in 2023
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China, Europe and USA represent 93% of global BEV sales in 2023
- In 2023, sales of battery electric vehicles (BEV) represented just over 10 million units (10,114,792 sales) including 6,132,487 units in China, 2,034,936 in Europe (EU + United Kingdom + Switzerland + Norway) and 1,194,215 in the United States, these three large markets representing 93% of global BEV sales.
- Far behind these three major markets are South Korea (139,437 units), Canada (119,360 units) and Japan (86,762 units), with these three countries representing 3.5% of global BEV sales.
- The remaining 3.5% gathered around twenty other countries, the largest of which are Australia (77,390 units), Thailand (75,755 units), Turkey (54,317 units) and Israel (43,322 units).
- Regarding the market share of BEVs in each country, it is China which remains the locomotive of this market in 2023 with 23.9% penetration in 2023. Second place is more surprising since it is of Israel, with 16% market share of BEVs due to its pioneering position in the field (see “Better Place” fast battery exchange project put into practice in 2008 but quickly stopped due to non-compliance issues and profitability; a concept nevertheless taken up by the carmaker Nio in China).
- Third place in 2023 is held by Europe (EU + United Kingdom + Switzerland + Norway), with 15.9% market share of BEVs, the average market share at global level being comparable, of the order by 15.5%.
- Behind Europe, follow South Korea (9.5%), Australia (8.7%), the United States (7.7%), Canada (6.8%) and Turkey ( 5.6%). Other countries have a BEV market share of less than 5% (including Japan: 2.2%).
BYD will build an assembly plant in Turkey
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BYD will build an assembly plant in Turkey
- The Chinese carmaker BYD, the world's second largest carmaker of battery electric vehicles behind Tesla (650,000 units sold over the first 5 months of 2024 compared to 765,000 Tesla) has announced that it will build an assembly factory in Turkey and that this construction is imminent.
- This construction of a BYD assembly plant on the borders of the European Union is in addition to the ongoing construction of a BYD assembly plant in Hungary, which tends to prove that BYD is the most active Chinese carmaker and the most ambitious with regard to the European market.
- These constructions of two BYD battery electric vehicle assembly plants for the European market seem to respond (in anticipation) to European measures aimed at overtaxing BEVs from China and removing their ecological bonus in certain countries. Turkey is in fact not affected by these additional taxes on cars produced on its soil.
- The two Hungarian and Turkish assembly plants are planned to each produce 150,000 cars each year, a volume which could be doubled in the 2030s if the models produced there are successful.
- The first cars will leave the Hungarian factory at the beginning of 2026, the deadline for those to leave the Turkish factory has not yet been announced, but it could be either in 2027 or 2028.
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