2023 has been a very interesting year for electric vehicles and other electric technology. Here are some of the highpoints:
- The Tesla Cybertruck is in production. There is currently a backlog of about two million vehicles and orders continue to come in faster than they can build them.
- The world’s best selling car for 2023 is the Tesla Model Y. I didn’t say EV, best selling car of any flavor.
- Legacy auto claims there is no demand for EVs. What they really mean is that there is no demand for their EVs.
- BYD and Tesla make a profit on EVs. Everyone else loses money.
- There is now more choice in electric scooters, motorcycles, EVs and boats than ever before and airplanes are on the way.
- Huge grid-scale battery packs are helping transition the electric grid from combustion peaker plants to renewables.
- The price of EVs, batteries and solar panels has dropped significantly in 2023.
- Battery energy density continues to increase.
- While low-cost EVs have been available in China for some time, they are finally starting to hit the Americas and Europe.
- Serious EV makers are building more factories (BYD, Tesla), expanding existing ones (Tesla) and buying out legacy auto factories and converting them to EV (BYD)s.
- EV charger networks continue to expand.
- EV prices continue to drop.
What you will likely see in 2024:
- The BYD Dolphin and Seagull appear in many markets around the world offering good value smaller EVs.
- Tesla will get close by the end of the year of offering a low-cost vehicle.
- China car sales will reach 50% electric, Europe will reach 30%.
- The Tesla semi will reach mass production.
- Toyota might lose its place as the #1 auto maker in the world but, more likely this won’t happen until 2025.
Stay tuned. This is a pretty amazing ride.
