EVs -- GM Cruise -- UK 2030 Mandate Holds -- Daimler -- July 26, 2023

Locator: 45209EVS.

Chevy Cruise, update, The Verge, a couple of months ago, April 25, 2023. Right around the corner: 2030.

Is the UK getting wobbly: Rigzone, on UK's ban on petrol cars from 2030.

The UK government vowed to stick to its ban on the sale of new petrol and diesel cars from 2030 in an attempt to reassure businesses and investors in the electric vehicle industry after Prime Minister Rishi Sunak had appeared to waver on the policy in recent days.

Sunak on Monday declined to commit to the ban when asked by broadcasters about it, and another minister, Andrew Mitchell, had also cast doubt on the deadline. But Housing Secretary Michael Gove on Tuesday replied “yes” when asked by Times Radio if the timing of the ban was immovable. Asked later by Sky News if that was an “absolute guarantee,” Gove again replied: “Yes.”

Daimler Truck: forecasts "sunny condition," link here. As a reminder, I'm very bullish on Daimler Truck as a company executing very well in a tough environment. I'm accumulating shares in Daimler but making no recommendation. My investment horizon is a rolling 30-year investment. Will the US have a robust economy over the next 30 years? Will trucking remain part of the US economy. Will the west coast -- Washington, Oregon, California -- hold to the 2030 / 2035 EV mandate?

So, on the sunny side, Daimler projected revenue growth in its major markets by 2030: North America and Europe — 10% higher in each; Brazil, up 20%; and India, a whopping 70% improvement as more of the most populous nation on earth industrializes.

Equally bright forecasts for market share by 2030 followed: North America, 40% today to 45% in 2030; India 8% to 14%; Japan 23% to 25%.

Service revenue is expected to grow 50% between 2025 and 2030, made up of service and parts (60%), zero-emission vehicles (30%) and digital services (10%).

Autonomous vehicles — which Daimler is developing through Freightliner, its independent subsidiary Torc Robotics and with Waymo Via — should contribute more than $3.6 billion revenue in 2030, with greater than $1.1 billion in earnings before interest and taxes.

“Sunny is basically what we see in two core markets: North America and Europe,” Goetz said. “On the other hand, due to the fact that we are a cyclical industry, on the lower side where it’s been raining or there’s a thunderstorm outside, we still have decent profitability.”