EV Update -- March 8, 2023

Tracking

EVs: in round numbers --

• 2022:
• F: sold 61,575 EVs in 2022: became the second-largest EV manufacturer in the US, behind Tesla
• F-150 Lightning price:
• $40K to $92K
  
• GM:
• sold fewer than 25,000 EVs in 2022
• 2023:
• Tesla: 1.1 million EVs
• F: 500,000 EVs -- original estimate
  
• run rate
• F-150 Lightning: 150,000 annual run rate
• on track to triple production y/y
• sold 3,600 through February, 2023
• list price: $52K to $97K
  
• Mustang Mach-E: 210,000 annual run rate
  
• GM:
• to deliver 400,000 EVs by end of 2023, link here; 
• will build a third factory to build the Silverado EV
• currently: Factory Zero and the Orion assembly plant
  
• 2026:
• Tesla:
• F: 2 million
• GM:

EVs: link here. Scorecard. 

• cash burn

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ICU

The next twelve months look like it could be "make it or break it" for a number EV manufacturers with the new Fed policy: "higher, sooner, longer." 

Rivian's offering:

• $1.3 billion
• 4.625%
• will settle March 10, 2023
• due 2029

Links.

• Lordstown:
• Lordstown: critical, in ICU, needs partner to survive. Link here. March 7, 2023, one day ago.
• Lordstown CEO: setback, disappointing. Link here. March 6, 2023, two days ago.
• Lordstown: delivered just six EV pickups before shutting down. Link here. March 6, 2023, two days ago.

• Ford EV division: 
• Ford: production halt buried deep in article, March 3, 2023. Production set to begin again on March 13 2023. 
• Ford: published on/about March 3, 2023; fails to mention that Ford had temporarily shut down EV production. 
• Ford and GM: February 28, 2023 -- both Ford EV and GM have shut down pickup production -- for different reasons. Link here.

• Market today, mid-day:
• Lordstown (RIDE): down another 7.5% today.
• Nikola: down 2%.
• ARVL: down 9.3%.
• LCID: up slightly.
• RIVN: up 3%.
• FSR: down 1.3%.
• F: flat, slightly green

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Market

So, with the new Fed policy, "much higher sooner, much longer," how did the EV manufacturers do yesterday, Tuesday, March 8, 2023? (For 52 weeks):

• F: down 1%. (A high of $17.80; now trading for $12.98).
• RIVN: down 15%. (A high of $56.76; now trading for $14.64). All-time high: $172.01.
• RIDE: down 4%. (A high of $3.79; now trading for $0.98). All-time high: $29.01.
• LCID: down 6%. (A high of $28.14; now trading for $8.31). All-time high: %55.21.
• ARVL: down 4%. (A high of $4.13; now trading for $0.24). All-time high: $31.54.
• GOEV: down 7%. (A high of $6.25; now trading for $0.65). All-time high: $20.28.
• TSLA: down 3%. (A high of $384; now trading for $188).
• NKLA: down 5%. (A high of $11.87; now trading for $1.95). All-time high: $65.
• FSR: down 4%.  (A high of $14.74; now trading for $7.40); All-time high: $28.50.