Who Is Winning The Global EV Race?

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Published 2022-03-14
The global electric vehicle market is heating up and China wants to dominate. The country has invested at least $60 billion to support the EV industry, and it’s pushing an ambitious plan to transition to all electric or hybrid cars by 2035.

Tesla entered the Chinese market in 2019 and has seen rapid growth. In the U.S., Tesla dominates the conversation around electric vehicles, but in Europe, it’s a different story. Germany-based Volkswagen Group has risen from the ashes of its 2015 emissions scandal to become the EV market leader in Europe, where it has an edge thanks to local manufacturing, brand familiarity, and cheaper price points. But whether Volkswagen can broaden its appeal to become the global EV leader remains to be seen.

Meanwhile, electric vehicle infrastructure in the U.S. grows at a rapid pace. San Francisco-based Ample has brought electric vehicle battery swapping to America. The company was in stealth mode for seven years before launching recently with five swapping stations in the Bay Area. The concept isn’t new.

A start-up called Better Place launched an EV and battery swapping company after it raised $850 million in venture funding, but it ultimately went bankrupt in 2013. Tesla also demoed battery swapping in 2013 but only opened one station for about a year. Elon Musk said Tesla owners were not interested in it. Battery swapping is already common in China. Electric vehicle maker Nio, for example, plans to double its network of swapping stations to 500 this year and plans to open stations in Norway as part of its expansion into Europe.

SEGMENTS:
00:00 Why China Is Beating The U.S. In Electric Vehicles
17:46 Why Volkswagen Is Beating Tesla In Europe
31:44 Can EV Battery Swapping Take Off In The U.S.?

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Who Is Winning The Global EV Race?

All Comments (21)
  • @andrewsaint6581
    At 7:10 Tesla's 500,000 is quoted as "last year's" figure but was in fact the 2020 figure. The date of this video is 14th March 2022. Tesla production in 2021 was over 936,000. This is a glaring error because the correct figure has been public information for nearly a quarter of a year. Is any of the other information accurate?
  • Odd to say VW is beating Tesla when the model 3 was the top selling vehicle in EU for January and Feb 2022.
  • every time there is China appears in the video then there is the gray color filter and Chairman Mao. LOL
  • @pengpeng85
    Astonishing mindset. In Europe you call it regulation while in China you call it mandates.
  • @siraja6679
    "Chinese tech isn't at par with American" seems to be the narrative in first half of video. That's what they said when Japanese cars entered America, and the rest is history. One can't look down on China in the EV game. They are far ahead than we give them credit for.
  • @bru512
    31:44 A critical part of the battery pack is the cooling system. How will battery swapping deal with the cooling system connections?
  • We like tesla cuz of the fun driving experience, pricing, no haggle no hassle experience purchase and using it.
  • @irvinwright4075
    Lots of misinformation here. One glaring piece of misinformation was a statement about how much experience Volkswagen has building cars, when in fact they have little experience building electric cars. Their own CEO said Tesla is building them 3 times faster than they are and Tesla has their own battery factory and technology. Poor research or paid misinformation??
  • @urdhvaborse3626
    combining already uploaded videos into long ones - CNBC has fallen a long way
  • @bearpolo3618
    It's changed much since, BYD has surpassed Tesla to become the top EV manufacturer in the world now and Tesla is using batteries from CATL and BYD.
  • To win a race you have to have a finishing line. There is no such limit here. Some makes will become dominant, but fashion and world events set new goals. All markets go through growth, settlement and decline. No doubt someone in the future will declare types of battery are not green, blue or whatever. New companies will evolve to renew existing batteries.
  • @drew031127
    Decent, but they're missing out on the biggest story, the story of BYD'S mastery of vertical integration. The fact that they are making their own chips, battery cells (that don't use cobalt or nickel), and already selling EVs at purchasing price parity with gasoline vehicles is the big story. The guy that said Chinese EVs do not have the quality of Western products has no idea what he's talking about. Not only do they have the quality, but most Chinese EVs have much better specs, like 800v structural packs, heat pumps, v2L abilities, etc. Legacy automakers are in big trouble.
  • @sunjy9522
    4:44 I need to point out, Chinese authority never set the rule to charge more for purchasing traditional car, the price has always been like that whether it’s high or low. The authority has significantly reduced the price on electronic cars by cutting sales-tax or financial support for car companies, and almost no charge on getting a green plate which allows you to drive int city with no restriction during rush hour. The regular plate which is the blue plate, the number of blue plates being issued each year is limited, so it is expensive to acquire.
  • @zwzau
    Very insightful! Thank you, CNBC.
  • @Runconna
    The fact that lawmakers haven't even passed a unified charging plug for the U.S. shows how asleep they are on this issue.
  • @alostbard
    As for battery swapping, there has to be a way to prevent scams. You buy a new car with a new battery. The first time you pull in to swap battery, the independent battery swap business gives you back an older used battery. The business then sells that new battery and buys 2 or 3 older batteries. Rinse and repeat. Never underestimate the U.S. business mindset to scam for easy money.
  • @EMtesla1
    GM will NEVER be fully electric by 2035... mark my words.
  • @johnraue5708
    The best charging stations to invest in are? A friend visited- "Come to our place?" 4 hour drive away with gas van. They arrived 1/2 hour later. 20 min, for charging stop ? An other 10 minute limited charge to get home-- EH! Where?