Connected Cars Archives

BYD Widens Gap with Tesla in Q3 2022, Leads Global EV Market

Three of the top five best-selling EV brands in Q3 2022 were from China.
The top 10 EV models accounted for more than 35% of global EV sales.
EVs constituted over 15% of the world’s passenger vehicle sales in Q3 2022.

New Delhi, London, San Diego, Buenos Aires, Hong Kong, Beijing, Seoul – December 1, 2022

Global passenger electric vehicle* (EV) sales grew 71% YoY in Q3 2022, according to the latest research from Counterpoint’s Global Passenger Electric Vehicle Model Sales Tracker. In total EV sales, battery EVs (BEVs) accounted for almost 74% and plug-in hybrid EVs (PHEVs) the rest. China remained the market leader in EV sales, followed by Europe and the US. China’s EV sales increased by over 100% YoY to exceed 1.7 million units from just 0.88 million units in Q3 2021. BYD Auto continued to lead the global EV market during the quarter. The Chinese automaker also managed to widen its gap with the second-placed Tesla.

Commenting on the market dynamics, Senior Analyst Soumen Mandal said, “As semiconductor supplies ease, together with better availability of raw materials for batteries, global EV sales are increasing. Among nations, China is dominating the global EV market single-handedly. Three of the top five best-selling EV brands are from China. All three brands operate predominantly in China, highlighting the China EV market’s positive evolution.”

Market Summary

BYD Auto remained the global market leader, shipping more than 537,000 EV units, an increase of 197% YoY. Its top three models – BYD Song, BYD Qin and BYD Han – contributed to over 56% of the company’s sales during the quarter. BYD’s overseas operations have been picking up fast; it sold almost 17,000 EV units across various regions including Europe, Latin America, Southeast Asia, Middle East and Africa, and Oceania in Q3 2022.

Tesla’s global sales grew 43% YoY in Q3 2022 to over 343,000 units. The company saw increased demand for its vehicles in Europe this quarter. The smoothing production ramp in its Berlin factory helped deliver a record number of Model Ys in Germany this quarter. However, deliveries fell short of expectations due to logistics bottlenecks.

Wuling grew by 31% YoY to hold the third rank in the global EV market. The brand’s Hongguang Mini EV model has remained the undisputed market leader since its release in the second half of 2020. Mini-electric car sales in China are high as they cost less, are eligible for subsidies and serve the purpose.

Volkswagen’s EV sales increased by 28% YoY to recover from their Q2 dip. The ID.4, ID.3 and ID.6 series had the top-selling Volkswagen models during the quarter. The company showed impressive results in China with its EV sales growing 79% YoY and 35% QoQ. Although the brand’s sales in Europe and the US recovered sequentially, neither region registered YoY growth.

GAC Motor emerged as the fifth top-selling brand, overtaking BMW and Mercedes-Benz. During Q3 2022, GAC sold more than 85,000 units to record a YoY growth of 145%. GAC spearheaded its Aion series, with the Aion Y as the top-selling model. The company operates only in China.

Chinese EV brands are making strong and steady progress. BMW has been pushed to sixth place by GAC Motor. Other brands like NIO, Xpeng, Lynk & Co and Geometry have started building a strong global presence, whereas traditional European automakers like Audi, Volvo, Peugeot and Renault are struggling to keep up with the competition. Among the top 25 EV brands in Q3 2022, 14 were from China.

The top 10 EV models accounted for more than 35% of global EV sales in Q3 2022. Tesla’s Model Y remained the best-selling EV model. Six out of the top 10 best-selling EV models were from BYD Auto.

Commenting on the market outlook, Research Vice President Peter Richardson said, “EVs represent a growing share of global passenger vehicle sales. Currently, EVs account for more than 15% of global passenger vehicle sales. EVs are becoming the preferred choice for first-time car buyers across developed regions. This is also encouraging new players to enter the market. In addition, different battery chemistries that require little or no lithium are also being developed, with the new technologies promising similar or better efficiency compared to existing ones.”
*Sales refer to wholesale figures, i.e. deliveries from factories by the respective brands/companies.

*For EVs, we consider only BEVs and PHEVs. Hybrid EVs and fuel cell vehicles (FCVs) are not included in this study.

The comprehensive and in-depth ‘Global Passenger Electric Vehicle Sales Tracker, Q1 2018-Q3 2022’ is now available for purchase at report.counterpointresearch.com.

Feel free to reach us at press@counterpointresearch.com for questions regarding our latest research and insights.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Analyst Contacts

Soumen Mandal

Neil Shah

Peter Richardson

Counterpoint Research

press@counterpointresearch.com

Related Reports:

Connected Car Sales Overtake Non-connected Cars in Q2 2022

The US overtook China in Q2 2022 to lead the global connected car market.
The top five groups – Volkswagen, Toyota, GM, Stellantis and Hyundai – captured half of the market.
5G car sales surpassed half a million, though 4G accounted for 90% of connected car sales.

London, San Diego, Buenos Aires, New Delhi, Hong Kong, Beijing, Seoul – September 29, 2022

Global connected car sales* remained flat YoY in Q2 2022 despite ongoing turbulence in the automotive industry, according to the latest research from Counterpoint’s Connected Car Services. The US led followed by China and Europe. The top three regions accounted for nearly 80% of connected car sales in the quarter.

The connected car penetration surpassed that of non-connected cars for the first time ever, capturing almost 50.5% share in Q2. Non-connected cars have been steadily declining as automakers prefer to upgrade their portfolio with factory-fitted embedded connectivity even in base model variants. Luxury brands like BMW, Mercedes and Audi were the first to introduce connected cars with inbuilt Wi-Fi, even before the initial push towards connected vehicles came from government mandates like eCall.

Commenting on the regional dynamics, Senior Analyst Soumen Mandal said, “The US market trailed China in terms of connected car sales in the first quarter of this year. However, with the resurgence of COVID-19 and plant shutdowns in China from March onwards, the US overtook China. China was the first country to introduce 5G cars back in 2020 with models like the Arcfox Alpha-T, Roewe Marvel R and Great Wall Motors Haval HG. Major automakers such as Audi and BMW entered the market in 2021 and 2022 by launching models like the Audi A7L/A6L and BMW iX respectively. Government initiatives along with a push from state-owned telecom operators regarding the deployment of 5G networks have given China the first-mover advantage.”

Mandal added, “Europe, including major countries like Germany, UK and France, saw its overall sales dip in the first half of the year due to persistent problems like the Russia-Ukraine war and supply chain disruptions. However, the region managed to increase its connected car penetration to almost 60% in the second quarter owing to growing connected car technology in the portfolios of incumbent players like Stellantis, Volkswagen, BMW and Mercedes. From a global perspective, Volkswagen, Toyota and General Motors groups lead the market due to large volumes and high connectivity penetration within their portfolios.”

The automotive industry is going through multiple simultaneous transitions such as connected mobility, electrification, autonomous driving, and software-based services. And connectivity is fundamental for all. However, it is creating pressure on supply chains to support these transitions.

Connected cars surpassing non-connected cars is a significant milestone toward achieving success in the automotive industry transformation. Now the use cases of connectivity within cars are expanding from telematic services to becoming more software-centric, delivering features like digital cockpit through to autonomous driving. As a result, automakers are focusing on using powerful on-board computers for next-generation connected mobility. Currently, connected cars typically use a single NAD module to provide infotainment and predictive analytics. But some Chinese brands and luxury automakers are using two NADs in a technology called Dual SIM Dual Active (DSDA) to provide, for example, uninterrupted infotainment to passengers while simultaneously uploading critical vehicle data on to the cloud for analytics.

Keeping the technology evolution in mind, Research Vice-President Peter Richardson added, “4G cars still dominate the global connected car market, capturing 90% of shipments in Q2 2022, whereas 5G cars accounted for around 7%. Although 5G’s share will continue to increase, 4G will see increased sales on a yearly basis until 2027. There are several factors hindering the proliferation of 5G for cars, such as high prices of 5G NAD/TCU, and patchy network coverage even where 5G has been launched, which in turn means limited availability of 5G capable cars. Furthermore, there is only nascent adoption of ADAS/AD levels – currently, there are few Level 3 capable models and all use 4G. We expect that mass adoption of 5G connectivity will only occur after 2025, when most of these issues will have been resolved”.

*Sales here refer to wholesale figures, i.e. deliveries out of factories by respective brands, and consider only passenger cars with embedded connectivity.

For detailed research, refer to the following reports available for subscribing clients and individuals:

Counterpoint tracks and forecasts on a quarterly basis around 50 automakers’ sales in key geographies like China, US, UK, Germany, France, Japan, South Korea, Rest of Europe and Rest of World, and by technology/connectivity – 2G, 3G, 4G and 5G.

Feel free to reach us at press@counterpointresearch.com for questions regarding our latest research and insights.

Background

Analyst Contacts:

Peter Richardson

Soumen Mandal

Fahad Siddiqui

Counterpoint Research

Related Posts

Global EV Sales up 61% in Q2 2022; BYD Leads Market

Global passenger electric vehicle (EV) sales* reached 2.18 million units in Q2 2022.
BYD Auto overtook Tesla to become the top-selling EV brand globally.
The top 10 EV models accounted for more than 30% of global EV sales in Q2 2022.

New Delhi, London, San Diego, Buenos Aires, Hong Kong, Beijing, Seoul – August 29, 2022

Global passenger electric vehicle* (EV) sales grew 61% YoY to reach 2.18 million units in Q2 2022, according to the latest research from Counterpoint’s Global Passenger Electric Vehicle Model Sales Tracker. In total EV sales, battery electric vehicles (BEVs) accounted for almost 72% and plug-in hybrid electric vehicles (PHEVs) for the rest. China remained the market leader in EV sales, followed by Europe and the US. China’s EV sales increased by almost 92% YoY in Q2 2022 to reach 1.24 million units from just 0.64 million units in Q2 2021.

Commenting on the market dynamics, Senior Analyst Soumen Mandal said, “As the global semiconductor shortage has eased a bit, automakers are able to cater to the increasing demand for EVs. Moreover, EV sales would have been higher if China had not experienced fresh COVID-19 outbreaks during March. Stringent lockdowns in and around major provinces halted the production ramp-up during April, which resulted in China’s passenger vehicle market recording its biggest drop since the COVID-19-hit March 2020. The situation improved only after lockdowns were lifted during the latter half of May. The second half of 2022 is expected to deliver better results, but economic downturns, energy crisis, supply chain bottlenecks and rising geopolitical tensions may hinder the growth of China’s automotive market, especially EVs.”

Market Summary

BYD Auto: For the first time, BYD Auto became the top-selling EV brand, dethroning Tesla. During Q2 2022, BYD Auto shipped more than 354,000 EV units, an increase of 266% YoY. The company officially stopped production and sales of internal combustion engine vehicles in March 2022 and has been focusing on the development of BEVs and PHEVs. More than 60% of BYD’s sales during the quarter came from its top three models – BYD Song, BYD Han and BYD Qin. The company is slowly penetrating the European market. It has already begun operations in Norway and is looking to start business in Germany, Sweden and the Netherlands.

Tesla: Tesla’s global sales during Q2 2022 grew 27% YoY to over 254,000 units, falling short of expectations. Although business in the US increased, its China business was affected by COIVD-19 shutdowns. Tesla sold just 98,000 cars in China during Q2 2022. Cumulative sales in China during April and May fell by 49% YoY. This was the lowest for the automaker since the COVID-19-hit 2020. But its sales during June improved by almost 115% YoY. Despite COVID-19 clouding Tesla’s Q2 sales, it remained the global leader in the BEV segment.

Wuling: The joint venture between SAIC, GM and Wuling has proved to be a success as the Wuling Hongguang Mini EV is the best-selling EV model in China. The model has been the undisputed market leader since its release in the second half of 2020. During Q2 2022, Wuling grew by 16% YoY to hold the third rank in the global EV market.

BMW: BMW’s EV sales during Q2 2022 increased by 18% YoY. The company has a more prominent presence in the PHEV segment. However, its BEV sales experienced a higher QoQ growth rate (18%) in Q2 2022 compared to its PHEV sales (2%). BMW’s aim to have 2 million BEV units on the road by the end of 2025 is motivating it to make significant developments in the EV category. The BMW X3 and i-series models are spearheading the company’s push in the BEV segment, while the 5-Series, 3-Series and X5 models are doing the same in the PHEV segment.

Volkswagen: Volkswagen’s EV sales declined 9% YoY in Q2 2022. Its shipments across Europe and the US declined by 44% YoY and 74% YoY, respectively. Bottlenecks in the supply of semiconductors and other automotive components due to Russia’s invasion of Ukraine, together with rising inflation, pushed EV sales down in these two markets. However, sales in China grew 115% YoY in Q2 2022. Apart from the supply chain crisis, the company’s internal issues and failure to develop new proprietary software for its vehicles are impacting the company’s EV shipment targets.

Source: Counterpoint Research Global Passenger Electric Vehicle Model Sales Tracker, Q1 2018 – Q2 2022

Discussing the reasons for the rise in EV sales, Research Vice President Neil Shah said, “Incentives play a crucial role in increasing EV adoption. For example, China’s strong incentive program for both automakers and consumers has helped the country become the global EV leader. China extended its consumer-side subsidies until 2023, even after deciding to end them in 2021. Moreover, China’s dual-credit policy for automakers has been a massive success and the government is planning to phase out consumer-side subsidies as its EV market reaches maturity. In contrast, lower subsidies in European countries have led to slow growth in EV sales. China’s EV market grew by over 90% YoY in Q2 2022, whereas Europe’s EV market increased by just 16% YoY. Rising EV sales in European nations have led to a discontinuation of many consumer-side subsidies on car purchases with the focus shifting to establishing improved charging infrastructure, including incentives for consumers to install charging points.”

Further commenting on EV subsidies, Shah said, “Recently, the US has brought a new EV policy which includes attractive incentives for both automakers and consumers. Benefits upto $12,000 are available for automakers and consumers on the purchase of a new EV. As a result, we expect to see an increase in EV sales in the US. Apart from these big markets, smaller markets like India, Japan, Thailand, South Korea and Malaysia have started providing various benefits for EV buyers and automakers either directly as a rebate in prices or tax exemption.”

The top 10 EV models accounted for more than 30% of global EV sales in Q2 2022. Tesla’s Model Y remained the best-selling EV model. Wuling’s Hongguang Mini EV moved up to the second place, pushing Tesla’s Model 3 to third place. The Hongguang Mini EV’s long streak of being the best-selling model in China was broken by the Model Y in June 2022. Six out of the top ten best-selling EV models during the quarter were from Chinese OEMs and are mostly only available in China.

Source: Counterpoint Research Global Passenger Electric Vehicle Model Sales Tracker, Q1 2018 – Q2 2022

Commenting on the market outlook, Research Vice President Peter Richardson said, “The automotive industry is unlikely to fully recover from the semiconductor shortages until 2023. We do not expect global passenger EV sales to exceed 10 million units in 2022 considering the COVID-19 outbreaks, production shutdowns due to the power crisis, component shortages and rising consumer price inflation.”

*Sales here refer to wholesale figures, i.e. deliveries out of factories by respective brands/companies.

*Under electric vehicles (EVs), we are considering only battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). Hybrid electric vehicles and fuel cell vehicles (FCVs) are not included in this study.

The comprehensive and in-depth ‘Global Electric Passenger Vehicle Model Sales Tracker, Q1 2018 – Q2 2022’ is now available for purchase at report.counterpointresearch.com.

Feel free to reach us at press@counterpointresearch.com for questions regarding our latest research and insights.

Background

Analyst Contacts

Soumen Mandal

Neil Shah

Peter Richardson

Counterpoint Research

press@counterpointresearch.com

Related Reports:

China Cloud on Tesla’s Q2 2022 Numbers; Fundamentals Remain Strong

Tesla sold more than 254,000 vehicles in Q2 2022, an increase of 27% YoY, which was below general expectations.
This was the first time since the COVID-19-hit 2020 that the automaker experienced a sequential decline in sales.

After achieving phenomenal growth in Q1 2022, Tesla’s global sales during Q2 2022 grew by just 27% YoY to over 254,000 units, falling short of expectations. In QoQ terms, the sales fell 18%. Business during Q2 2022 was affected by COIVD-19-related shutdowns in China. Production units in and around Shanghai were closed temporarily due to strict lockdown measures. As a result, Tesla sold just 89,000 cars across China during Q2 2022. Cumulative sales in China during April and May fell by more than 66% YoY. The situation improved only after the production returned to full capacity in June.

It was expected that the Berlin Gigafactory would boost Tesla’s sales in Europe after becoming operational in March 2022. But the production was lower than expected. A few rumored reasons for the low production are litigation with the German government and a shortage of human resources. The Berlin factory is currently focusing on the production and deliveries of the Model Y across Europe.

Tesla bets on in-house battery cell manufacturing

Tesla delivered its first batch of cars equipped with the in-house 4680 battery cells and structural battery packs during this quarter. These cells use a little amount of lithium. With lithium prices soaring worldwide, 4680 cells will help lower the vehicle manufacturing cost. The cells will power the Model Ys coming out of the Berlin Gigafactory. However, Tesla will shut the Berlin Gigafactory for a couple of weeks during autumn to upgrade the production system of 4680 cells.

Other businesses see 33% YoY growth

Although Tesla’s vehicle sales in Q2 2022 failed to meet expectations, its other businesses like energy deployment and storage, charging and other services grew more than its vehicle segment. Energy deployment, energy storage, charging and other services grew by 33% YoY. Tesla deployed 106 MW of solar panels and 1.13 GWh of energy storage during Q2 2022. It installed 247 new superchargers worldwide, bringing its global supercharger number to 3,971 units with more than 36,000 connectors.

Tesla converts 75% of its Bitcoins to fiat currency

During Q2 2022, Tesla also converted 75% of its Bitcoins to fiat currency. This was done to have a better cash position against the backdrop of COIVD-19-related uncertainties. This conversion reduced Tesla’s digital assets to $218 million and added $936 million in cash to Tesla’s balance sheet.

Source: Tesla Q2 2022 Financials and Counterpoint Analysis

Q2 2022 Financial Results

During Q2 2022, Tesla sold more than 254,000 vehicles at 27% YoY growth. The Model 3 and Model Y comprised more than 93% of these sales.
Revenue from vehicle sales stood at $14.6 billion. Total revenue grew by almost 42% YoY, with the COVID-19 impact on China reducing the QoQ number by about 10%. Revenue generated from automotive credit also declined slightly compared to Q2 2021.
The company’s other services, like energy storage, charging and insurance, contributed to 14% of its total revenue. Revenue from insurance and vehicle services saw a 54.2% YoY growth, while the energy storage and charging segment grew by just 8% YoY. The energy storage business was expected to perform better but was restricted due to semiconductor-related supply issues.
Tesla’s gross profit during Q2 2022 reached $4.2 billion and stood at 25%. Though the shutdown in China adversely affected the business, increase in US deliveries along with the higher average vehicle price helped Tesla earn 47% more profit YoY.
R&D costs grew 16% YoY during Q2 2022. Tesla is trying to achieve complete autonomy by 2024 by perfecting Full-Self Driving (FSD) software. But the resignation of Andrej Karpathy, the director of artificial intelligence and autopilot system at Tesla, in mid-July is likely to stall the progress of this project, which is expected to get delayed by a year.

Source: Tesla Q2 2022 Financials and Counterpoint Analysis

Market Outlook

Despite experiencing a dip during the second quarter of 2022, Tesla’s future outlook seems strong and promising with strong fundamentals. Tesla has secured the supply of LFP batteries for its Shanghai Gigafactory by signing a deal with BYD. Transitioning to LFP batteries and 4680 battery cells will help Tesla reduce vehicle manufacturing costs. Moreover, Tesla expects the Berlin Gigafactory production capacity to cross 100,000 units by the end of 2022. With all these developments, Tesla is expected to cross more than 1.2 million units of vehicle deliveries by the end of 2022.

Global EV Shipments Up 79% YoY in Q1 2022; Tesla Remains Leader

In Q1 2022, global electric passenger vehicle (EV) shipments exceeded 1.95 million units.
Passenger battery electric vehicle (BEV) shipments grew 90% YoY during the quarter.
EV shipments are expected to cross 10 million units by the end of 2022 and 58 million units by 2030.

New Delhi, London, San Diego, Buenos Aires, Hong Kong, Beijing, Seoul – July 8, 2022

After surviving the COVID-19 pandemic and semiconductor shortages, the global automotive sector continued to recover in early 2022. Passenger vehicle shipments, especially electric passenger vehicle* (EV) shipments, grew during the first quarter. According to the latest research from Counterpoint’s Global Electric Passenger Vehicle Model Shipments Tracker, EV shipments grew 79% YoY in Q1 2022 to reach 1.95 million units. Of these, battery electric vehicles (BEVs) accounted for 73% and plug-in hybrid electric vehicles (PHEVs) for the rest. China remained the market leader in EV shipments, followed by Europe and the US. China’s EV shipments increased 126% YoY in Q1 2022 to reach more than 1.14 million units from just 0.5 million units in Q1 2021.

Commenting on the market dynamics, Senior Research Analyst Soumen Mandal said, “The EV market is witnessing a boom. However, shipments would have been higher if the automotive supply chain was not affected by the Ukraine crisis and fresh COVID-19 waves in China in March 2022. With EVs comprising just 12% of the total passenger vehicle shipments during the first quarter of 2022, there is a lot of scope for expansion. Fresh players are entering the market to benefit from the opportunity. To counter new entrants, existing players are using leading-edge technologies to have improved battery, superior IVI system and higher levels of ADAS in their EV models as major selling points.”

Tesla: Tesla has registered phenomenal growth over the course of a year. The company’s shipments grew 68% YoY in Q1 2022 and are expected to cross 1.3 million units by the end of 2022. After operations started at the Shanghai Gigafactory in 2019, Tesla’s China shipments skyrocketed. With the Berlin Gigafactory becoming operational in March, Europe sales are likely to increase in Q2 2022. Tesla is currently the global EV market leader. In Q1 2022, it sold more vehicles than the next three OEMs combined in the BEV segment. Tesla will face competition from BYD, NIO and XPeng in China while Volkswagen is gearing up to compete on the global front. Despite this competition, Tesla is likely to remain the market leader in the BEV segment for the next few years.

BYD Auto: BYD emerged as China’s top EV seller during Q1 2022. Its EV shipments increased by a whopping 433% YoY to reach more than 0.28 million units. This was due to BYD increasing its production of BEVs and PHEVs while completely halting its internal combustion engine business. In Q1 2022, BYD’s BEV and PHEV shipments grew 271% YoY and 857% YoY, respectively.

Wuling: The joint venture between SAIC, GM and Wuling has proved a success as the Wuling Hongguang Mini EV is the most sold EV model in China. Compared to Q1 2021, Wuling grew by just 14% and currently holds the third rank in the global EV market. Wuling achieved high EV shipments by just operating across China and Indonesia. Expanding across the SEA countries will help its business to grow as competition in the region is not that high. An early entry will help Wuling to secure a significant market share.

BMW: Over the years, BMW has developed its business more in the PHEV segment than in BEV. BMW’s 16% YoY growth is mostly due to its offering of several new and improved PHEV models. BMW’s BEV shipments are predominantly driven by the company’s i-series models, while BMW Series 3 and Series 5 models are driving its PHEV shipments.

Volkswagen: Volkswagen is working hard to compete with Tesla in Europe, but its efforts have been disrupted by the supply crisis caused by Russia’s invasion of Ukraine. With its ID models, Volkswagen wants to capture a significant share of the EV segment. During Q1, Volkswagen’s EV shipments increased by 25% YoY. China remains Volkswagen’s top EV market, followed by Europe and North America. Across all major regions, the company’s all-electric ID.4 model registered most shipments.

Source: Counterpoint Research Global Electric Passenger Vehicle Model Shipments Tracker, Q1 2022

Discussing the reasons for the rise in EV shipments, Mandal further added, “Technological development is the key reason behind the increase in EV shipments. Battery technology has undergone recent breakthroughs. These developments have made batteries capable of longer ranges and longer overall lives. Range anxiety, one of the barriers to EV adoption, has reduced. The development of composite charging network infrastructure, subsidies from governments on EV purchases and increasing fuel prices combined with increasing environmental awareness are other reasons.”

On battery technology, Research Vice President Neil Shah said, “Different compositions of lithium-ion batteries and the development of LFP batteries have been a game changer in this field. Battery chemistries like NMC, NCA and LFP are used widely for their high energy density and safety. After an increase in the price of lithium due to the Ukraine crisis, OEMs are transitioning to LFP batteries which use very little lithium and are safer than NMC and NCA composition batteries. Alongside LFP, manufacturers are also working on revolutionary solid-state battery technology. Besides being safer, solid-state batteries have higher energy density and will be able to outperform other battery chemistries. In 2021, NIO showcased its new ET7 with a solid-state battery of 150kWh. But this was later replaced by a semi-solid-state battery for the vehicle’s launch in March 2022. Despite several clear advantages, the high cost of solid-state batteries will limit their potential for mass adoption in the near term.”

The top 10 EV models accounted for a third of global EV sales in Q1 2022. With Tesla’s new gigafactories coming up across the world, its Model Y and Model 3 currently hold the first two positions. Wuling’s budget model, the Hongguang MINI EV, has been the best-selling model in China for more than 15 months. Seven out of the top ten EV models are from Chinese OEMs. This shows the development of Chinese EV market over the past few years.

Source: Counterpoint Research Global Electric Passenger Vehicle Model Shipments Tracker, Q1 2022

Commenting on the market outlook, Research Vice President Peter Richardson said, “With many countries aiming to phase out gasoline-powered vehicles by 2040, car makers are facing a seismic change. Not only are they having to move to electric drivetrains, but cars are becoming smart, connected and increasingly able to drive themselves. This is the most tumultuous period since the auto industry was established more than a century ago. According to Counterpoint’s Global Passenger Car Forecast, EV shipments are expected to exceed 10 million units in 2022 and reach around 58 million units in 2030. There will be a fight for existence as incumbent auto manufacturers use their scale and manufacturing expertise to fend off new entrants that have no legacy business to protect. The current economic headwinds are likely to favor deep-pocketed incumbents, but some new entrants will either survive on their own or be acquired by established players.”

The comprehensive and in-depth ‘Global Electric Passenger Vehicle Model Shipments Tracker, Q1 2018-Q1 2022’ is now available for purchase at report.counterpointresearch.com.

Feel free to reach us at press@counterpointresearch.com for questions regarding our latest research and insights.

Background

Analyst Contacts

Soumen Mandal

Peter Richardson

Neil Shah

Counterpoint Research

press(at)counterpointresearch.com

Related Reports:

How Connected Vehicle Data is Shaping the Automotive Industry

The connected car market is growing, and cars are becoming more connected than ever before, and this will continue as the Counterpoint Connected Car study predicts that more than 70% of the cars sold will be connected cars in the year 2025. The data generated by the vehicle includes information about the vehicle status, driver’s behavior, and location-based data. With the emergence of Electric Vehicles (EV) and more driving safety features, connected vehicles become more relevant. This available vehicle data is “gold” for OEMs, suppliers, insurers, mobility providers, fleet owners and much more. However, most players especially OEMs failed to take the opportunity to monetize the car data. In this blog, we will be learning about connected car data, why OEMs failed to monetize the data and lastly, talk about the connected vehicle data platforms and the players.

What makes a car “connected’’?

A car is connected if it has internet access, which allows the car to share internet access and data with other devices inside the car and/or devices, networks, services outside the car as well as other cars, homes, offices, or infrastructure. A connected car is connected through two types of connectivity solutions: tethered or embedded.

An embedded connectivity solution is built into the vehicle using embedded hardware called a Telematics Control Unit (TCU). The telematics unit has an integrated modem that establishes the connection between the car and the network. For the vehicles that don’t have a built-in TCU, services can also be provided via devices that are brought in by users, like smartphones or wireless dongles (connected to the vehicle’s On-Board Diagnostics (OBD) port), such connectivity solutions are termed tethered or, sometimes, a Bring Your Own Device (BYOD) solution.

Use Cases for Vehicle Data

The connected car data presents the opportunity to monetize the data through different business models. The vehicle data can be used to elevate the consumer experience or offer new services or improve the vehicle’s performance. The various applications of car data are as follows:

Usage-based Insurance
Predictive Maintenance
OTA updates/upgrades
Fleet management
Traffic Management
Roadside assistance
In-car advertisements
In-car payments

OEM’s slow approach to capitalize on the car data

At the outset, OEMs struggled to capitalize on car data as they wanted to be in control of the data at every part of the value chain even though they were not in a good position to do so. Moreover, automakers lacked the resources and skills needed to leverage the data into meaningful insights. In addition, connected cars produce huge amounts of data. Storing the data, and who owns the car data, became a big question for carmakers. As per the European Union’s (EU) regulation, 2018/858, car manufacturers should share connected car data with third parties. Some of the OEMs, like GM, were the first to monetize the data services. Now, with the introduction of data aggregators like Otonomo or Wejo, almost every OEM is looking to monetize vehicle data.

What are the Data Aggregators?

Data aggregators are the companies that offer a platform for the collection, storage, analysis and sharing of the data from OEMs, Telematics Service Providers (TSP), or fleets. These companies process the raw vehicle data from various car companies and follow the privacy norms according to the relevant regulations. The processed and standardized car data is then ready to sell/share through a marketplace or as APIs to different entities such as insurance companies, mobility companies, governments, etc. Examples of such companies are Caruso, High Mobility, Otonomo, Wejo and some established player like HERE. In this blog, we will focus on Wejo and Otonomo.

Wejo

Founded in 2014, Wejo went public in 2021 through the SPAC merger with Virtuoso Acquisition Corp. The company is backed by GM and Palantir. It has two business solutions, Wejo Marketplace and Software and Cloud solutions. The marketplace includes a data visualization platform called Wejo Studio. In the last quarter of 2021, Wejo introduced its software and cloud solution. It has partnered with Microsoft to build its suite of data and intelligence solutions on the Azure cloud platform. This year at CES, Wejo announced its analytical platform specifically designed for connected, electrical and autonomous vehicles leveraging its partnership with Microsoft Azure and its data platform called Wejo ADEPT. The platform will only collect the most relevant data by filtering and then analyzing the connected car data at the edge before transferring it to the cloud. Wejo plans to expand its offerings into five new services.

Source: Wejo

Wejo has a strong partnership with OEMs and Tier-1 suppliers, by the end of 2021, it had partnered with 22 OEMs and Tier-1 suppliers. Leveraging its relationship with OEMs it has 16.1 million cars on its platform out of which it receives data from 11.8 million vehicles and processes nearly 16 billion data points per day, mainly in the US. Its customer base includes 68 companies, and most of the revenue (90%) comes from the US through its Marketplace services.

Source: Wejo

Financial Highlights

The full-year revenue amounts to $2.6 million which is a 92% growth from last year. The fourth-quarter revenue contributed to $1.4 million which is 180% higher than the same period last year.
The net loss increased from $60.3 million in 2020 to $217.8 million in 2021
The total contractual value increased by 68% to $20.5 million

Otonomo

The company was founded in 2015 with its headquarters based in Israel. The company went public in August 2021 through the SPAC merger with Software Acquisition Group. Otonomo offers a Vehicle Data platform and marketplace and, after the acquisition of Neura, it leverages its capabilities and offers a mobility intelligence platform. In addition to the platform and marketplace, Otonomo also offers API solutions for real-time data and historical vehicle data.

Source: Otonomo

It has partnered with 22 automakers on vehicle data agreements. The platform has 50 million vehicles with 4 billion data points per day. Otonomo uses Amazon cloud to host its platform. By the end of 2021, it had 55 customers from different industries. In February 2022 it has made another acquisition of the company known for telematics-based insurance technology.

Source: Otonomo

Financial Highlights

In 2021 the revenue grew by 337% to $1.7 million as compared to last year. The fourth-quarter revenue amounts to $1.1 million compared to $0.21 million in the same period in 2020.
The net loss for 2021 is $30.9 million as compared to the $20 million in the previous year.
EMEA contributes approx. 71% of the revenue followed by APAC with 19% and the rest North America
Three companies/customers accounted for 55% of its revenue. Hylabs ltd is the biggest contributor with approximately 28% followed by Mitsubishi Motors with 14% and Neotec Bio with 13%.

Conclusion

Even though both Otonomo and Wejo are data aggregators, they differ in their technology capabilities and business approach. Otonomo provides vehicle data for various use cases across different verticals but lacked visualization capability. While Wejo has visualization capabilities, it lacks solutions for different use cases, although it plans to launch some in 2022. Otonomo is playing aggressively and looking to consolidate new resources and capabilities through acquisitions and thereby bringing new customers and increasing the addressable market. Wejo, on the other hand, relies on developing its product or new services through partnerships with global technology players.

Wejo currently does not offer any solution or services to developers through its own API whereas Otonomo has its own API, which allows developers or new service providers to have access to vehicle data. Lastly, Otonomo and Wejo are each strong in one region – Europe and USA respectively.

We have also published a report on the location platforms where we also analyzed and evaluated 25+ platform players like HERE and Otonomo based on the CORE (Competitive Ranking & Evaluation) framework.

Overview of the Otonomo and Wejo

Source: Counterpoint

Podcast #52 – Digital Cockpit to Drive Future Connected Car Experiences

Modern cars now feature an array of advanced digital technologies such as ADAS (Advanced Driver Assistance Systems) that offer things like lane assist, adaptive cruise control, collision avoidance, and more. And as things progress towards the next level of autonomous driving, the digital cockpit will play a crucial role in unlocking future connected car experiences. Besides offering personalized experiences and seamless connectivity to drivers and passengers, a digital cockpit will also enhance driver safety.

But who are the key players in the automotive industry that are offering the technology stack to power these new experiences? What does Qualcomm’s announcement of its Digital Chassis mean for automakers? And lastly, what are EV (electric vehicle) makers doing to improve range, build more fast-charging stations, and integrate new battery chemistries?

In the latest episode of ‘The Counterpoint Podcast’, host Maurice Klaehne is joined by analysts Soumen Mandal and Mohit Sharma for an insightful discussion on autonomous and electric vehicles (EVs). The discussion also touches on connected cars, touchscreen infotainment systems with guided maps, ADAS, CES 2022 announcements, and more. At the end of the podcast, Soumen and Mohit also talk about the key trends they are seeing in the automotive industry.

Hit the play button to listen to the podcast

You can download the podcast transcript here.

Podcast Chapter Markers

01:20: Soumen talks about the performance of the automotive industry in 2021 and trends that we are likely to see in 2022.

02:48: Mohit touches on the impact of semiconductor and component shortages, and how things are looking.

03:55: Soumen discusses some of the important automotive announcements from CES 2022.

06:41: Mohit shares some insights on digital cockpit features

08:27: Soumen on connected car ecosystems and new features.

10:32: Autonomous driving is a hot topic, and Mohit deep-dives into what we are seeing.

16:24: Soumen talks about the development and deployment of fast-charging stations.

19:33: Mohit shares more details about new materials in EV batteries, driving range, and range anxiety among other things.

22:33: Soumen and Mohit talk about long and short-term trends they are seeing.

Also available for listening/download on:

Global Connected Car Market Remains Resilient; 5G Cars Deployed Globally

In 2021, 4G cars were 90% of total connected car shipments.
5G cars are expected to be a quarter of connected cars by 2025.

San Diego, Buenos Aires, London, New Delhi, Hong Kong, Beijing, Seoul – February 15, 2022

The global connected car^[1] market remained resilient in 2021 despite ongoing problems such as semiconductor shortages, production losses, cost inflation, and freight disruption. According to the latest research from Counterpoint’s Smart Automotive Service, 4G-enabled cars are reaching maturity in developed countries like the US, China, Germany, and the UK, alongside the entrance of 5G TCUs, which make use of real-time data transfer and fast cloud-car communication, among other improvements.

The semiconductor supply problem proved to be detrimental to the entire auto industry. OEMs like General Motors and Ford suffered significantly with thousands of cars sitting idle in parking lots waiting for chips to arrive. Such automakers are using a “Build-Shy Strategy” whereby cars are produced with available components and then kept aside until the required resources are acquired to complete them. This can be useful in the short term as it keeps the operations running, but there is no guarantee for how long the cars will remain unutilized. The shortages forced automakers to resort to different ways to minimize losses and avoid disruptions, such as diverting chips/inventory to more profitable models, removing certain features, and increasing vehicle prices. For example, BMW and Renault were selling certain models without digital screens while Nissan and Ford were doing so without navigation systems.

Commenting on the global connected car market’s performance, Senior Analyst Soumen Mandal said, “The shift towards digitization in cars is increasing at a rapid pace and is visible as the global connected car penetration has been on a consistent rise. As countries worldwide further strengthen their 4G network coverage and embrace next-generation cellular technology, we can see more connected cars coming to market with advanced safety and comfort features.”

“The US connected car market grew 16% YoY in 2021 with almost all players except General Motors shipping more connected cars as compared to the previous year. We see a dip in GM’s connectivity penetration thanks to its low overall sales and the removal of certain smart features from its portfolio. GM temporarily halted its ‘Super Cruise’ feature that enabled hands-free driving on highways in its flagship Escalade SUV. Other features that were discarded included auto start-stop, fuel management software, wireless charging, heated seats, and HD Radio in models such as Chevrolet’s Silverado and GMC’s Sierra. Despite the supply chain constraints and chip shortages, GM reported a 3.7% and 47% YoY growth in revenues and profits respectively for 2021. Supply chain disruptions and low inventory forced GM to slip to second place with Toyota moving ahead and becoming the first-ever foreign automaker to lead the US vehicle market.”

Mandal added, “China overtook the US in connected car shipments in 2021 and will continue to dominate the market through 2025. Other notable regions seeing growth include Europe, namely Germany, UK, and France. The increasing new electric vehicle registrations in Europe are a good indicator of the increasing connected car penetration in the region. In 2021, the leading battery electric vehicle (BEV) producer in Europe was Tesla, followed by VW and Renault. As we move towards an electric future, other brands like Hyundai and Fiat, which already have top-selling BEV models in their portfolios, will make the EV market more fragmented by introducing more models.”

In 2021, the automotive industry saw the first global deployment of a 5G-enabled car, BMW’s iX model. It was launched first in Germany in November, followed by shipments worldwide. Commenting from the connectivity perspective, Research Vice-President Neil Shah said, “China, which is already the leader in 5G connected cars due to better network infrastructure and government support, will see new models enter the market in 2022 from brands including Chevrolet, Geely, Buick, Ford, and BMW. Furthermore, 5G car models such as the Arcfox Alpha T, Roewe Marvel R, and Great Walls 3^rd Gen Haval H6, which were launched in 2020, will continue to gain traction. From 2023 onwards, we will see bigger players like SAIC and BAIC entering the market.”

Shah added, “By 2025, however, the 5G car market landscape will shift dramatically as the current global leaders will have penetrated the market with their next-generation offerings. We expect one in four cars to have 5G connectivity by 2025.”

^[1]The connected car data here refers to only passenger cars with embedded connectivity.

The comprehensive and in-depth ‘Global Connected Car Tracker, 2019-2025F’ is now available for purchase at report.counterpointinsights.com. Feel free to reach out to us at press(at)counterpointresearch.com for questions regarding our latest research and insights, or press enquiries.

Background:

Counterpoint Technology Market Research is a global research firm specializing in Technology products in the TMT industry. It services major technology firms and financial firms with a mix of monthly reports, customized projects, and detailed analysis of the mobile and technology markets. Its key analysts are experts in the industry with an average tenure of 13 years in the high-tech industry.

Analyst Contacts:

Neil Shah

Soumen Mandal

Fahad Siddiqui

Counterpoint Research

Related Posts:

Xiaomi Bets on Existing Strengths in its EV Foray

Xiaomi, which is currently the most successful Chinese smartphone OEM globally, has announced its entry into the electric vehicle (EV) market. The company will kick-start the project with an investment of 10 billion yuan ($1.5 billion) and expects to spend up to $10 billion over the next decade.

Source: Xiaomi

It is not Xiaomi alone, other smartphone OEMs are also looking to enter the EV market, which is poised for growth. For example, ZTE has announced its entry into the segment while Huawei and Chinese automaker SERES recently launched a Level 2 autonomous electric hybrid vehicle that uses Huawei’s solutions for smart cars.

Why Xiaomi and Other Smartphone OEMs are entering EV Segment?

Xiaomi, through its IoT strategy, has been investing in future growth drivers beyond smartphones, and EVs fall into this category. While on the outside, the automobile may seem like an unrelated business for Xiaomi to enter, but it is not the case thanks to two broad trends happening in the automobile segment ؘ– electrification and digitization. And the latter falls within Xiaomi’s competency.

Future cars will be more connected, will generate lots of data to be analyzed, will have greater processing power on the edge, and will have higher engagement with the driver, much like smartphones and other connected devices. And this is where Xiaomi will focus.

Over the years, Xiaomi has been building an ecosystem with smart devices, smart home and smart white goods. It will be looking to provide this digital ecosystem experience through cars as well. Further, it will be aiming to have control over the software and thus, streams of user data, on which it can build revenue models. Thanks to its smartphone and IoT business, Xiaomi has strong know-how on integrating software with hardware and building revenue models on top. It has a strong brand name with a large user base, which also gives it an advantage.

As far as the manufacturing of EVs is concerned, Xiaomi is likely to partner an ODM. Building manufacturing capabilities from scratch for automobiles would require massive investment, increase time-to-market and is outside Xiaomi’s core competence. Reportedly, Xiaomi is in talks with Great Wall (GWM) to use its plants to manufacture Xiaomi branded cars. Great Wall is China’s prominent SUV and pick-up truck producer.

Source: motor1

On the other hand, competition in China’s EV market is heating up. GWM is facing challenges from rivals like NIO, Xpeng and Li-Auto. Established OEMs are losing share to start-ups. With Xiaomi’s collaboration, GWM has an opportunity to become an ODM and increase volumes in the segment. Besides, becoming an ODM for vehicle segments other than pick-up trucks and SUVs will give GWM an opportunity to grow scale with a less direct competition. Software and internet-based business models have not been a core strength of automakers (with the exception of Tesla), and this is another area where Xiaomi’s partnership can benefit GWM.

Xiaomi also has a long-standing relationship with Foxconn, which also announced its foray into the EV space.

Xiaomi has not revealed the price segment its EVs would cater to, but it will likely go after the mass market like with its smartphones.

China: Large Market Potential for EVs

China is one of the world’s largest EV markets. In 2020, the Chinese government imposed a mandate on automakers that at least 40% of their sales should be EVs by 2030. China has also been ahead in rolling out 5G. Close to two-thirds of the smartphones sold in China in February were 5G capable. The ultra-reliable and low-latency communication capability which 5G brings, would be suitable for the mission-critical applications like autonomous driving and connected cars. 5G will also be important in enhancing the overall digital experience of the driver. How fast the information is being transferred from sensors to car, from object to vehicle, or even from vehicle to vehicle, and how quickly it is being analyzed would be critical. This is where low latency of 5G can help. Further, 5G can help the AI in the car make faster and reliable decisions, thus enhancing user experience.

The government support, 5G availability and rising demand together make the EV segment a lucrative opportunity to bet on, and Xiaomi does not want to miss this.

Counterpoint’s Take

The EV market in China is booming, but also getting crowded. Tesla is setting early industry benchmarks, but challengers like NIO also have a head start and are gaining popularity. The first wave of growth is already underway. The market is only set to be more crowded in the future with other smartphone OEMs possibly following Xiaomi’s footsteps. Therefore, time-to-market will be crucial for Xiaomi’s success, and this is where landing the right partner will be important.

Looking at the bigger picture of Xiaomi’s IoT strategy, and its strengths in the hardware-based internet service business, we can find natural synergies with the smart automotive segment. Xiaomi has been able to build a successful business by democratizing the smartphone market by playing on lower margins and developing a software and ecosystem-based business model. It is aiming to do the same in the automotive segment as well.

Top 10 Automotive Announcements in CES 2021

Like the past few years, automotive players used the 2021 edition of the Consumer Electronics Show (CES), organized from January 11 to 14, to showcase new technologies, launch products and announce partnerships. This year’s CES, which went all-digital due to the COVID-19 pandemic, was majorly focussed on electric vehicles (EVs), 5G connectivity, digital cockpit, artificial intelligence (AI) and autonomous vehicles (AVs). Moreover, COVID-19 has failed to dent the OEMs’ (original equipment manufacturers’) plans.

Here are Counterpoint analysts’ top 10 automotive announcements from this year’s CES:

1. Mercedes-Benz unveils a 56-inch ‘Hyperscreen’

As the cars are becoming smart, the need for a bigger screen is increasing for communicating and checking all the real-time vehicle data. Moreover, this 56-inch OLED Hyperscreen provides various functions like infotainment and personalized display. The screen is supported by eight CPU cores, 24GB RAM and 46.4GB/sec RAM bandwidth which helps reduce screen response times. In the era of the digital cockpit, MBUX (Mercedes-Benz User Experience) will slowly become the backbone of Mercedes-Benz vehicles, making the car more intelligent.

2. GM reveals an ambitious EV plan and a flying car concept

With the concept of flying Cadillac eVTOL, GM has joined the race for capturing the flying car market with other automakers like Hyundai, Toyota and FCA Group. Flying car testing projects have just started around the world and we will have to wait till after 2025 to get a good perspective on the topic.

GM launched BrightDrop, a new business unit for commercial EVs, aiming to build a first-to-last-mile EV ecosystem for logistics companies. This concept is not new, but there is huge potential for this market. GM may face stiff competition from other players working in this segment, like BYD, Rivian and Workhorse Group.

After a poor performance in the past few years, GM is repositioning itself and just changed its logo to reflect its EV focus. The company is spending $27 billion on EVs and AVs, targeting to launch 30 EV models by 2025. GM is also working on a battery technology called Ultium. These moves show GM’s seriousness towards its electrification goal and signal its strong comeback in the automotive market.

3. Panasonic unveils augmented reality (AR)-based heads-up display (HUD)

Panasonic unveiled an AR-based HUD which utilizes PRISM (positioning, reflection, intuitive, zonal UX and mission control) process to provide accurate situational awareness. A 3D imaging radar captures full 180° forward vision up to 90 metres while the 4K resolution provides a crystal-clear video of highways. Eye-tracking technology and AI-driven positioning accuracy are the key features of this HUD, which is expected to enter the market in 2024.

4. Mobileye showcases plan for AV rollout

As a part of its plan to commercialize AVs, Intel subsidiary Mobileye is expanding its testing of AV fleets to Shanghai, Paris, Tokyo and New York (pending regulatory approval) after a successful run in Tel Aviv, Munich and Detroit. Mobileye is also working on new Lidar silicon chips (SoC), which are expected to enter the market by 2025. This SoC can simplify computing and reduce cost by a significant amount.

5. Here Technologies brings a new mapping-as-a-service offering and 3D city models for vehicles

Here Technologies introduced a unique mapping-as-a-service offering where enterprises will be able to create their own maps. EV players can personalize their route maps through this service to reduce the range anxiety problem among stakeholders.

Here also launched 3D city models for vehicles while announcing a partnership with Leia and Continental to bring cutting-edge experience to automotive players. 3D maps with AR/VR applications will increase accuracy in location mapping, will be more engaging and help in taking better decisions while driving.

6. Harman redefines in-car experience in the 5G era

Harman is aiming to put a gaming console, a recording studio, or even a concert hall experience into the vehicle to provide the best user experience. High-resolution OLED or QLED displays, 5G enabled TCU and TBOT, Harman’s audio technology and advanced haptics will come together to give the user an immersive experience.

Harman is also offering a creator studio experience inside a car. Automatic background noise cancellation, virtual assistant, user-friendly video set-up, interactive lighting and publishing tools are leveraged here to create content even while driving.

With the help of 5G, premium audio quality, cloud service and partnerships with concert organisers, Harman is bringing live concerts to the car. More partnerships are expected with content creators, service providers, app developers, OEMs and module players to improve the experience.

7. Gentex reveals full display rearview smart mirror

Gentex demonstrated an LCD-based industry-leading Full Display Mirror (FDM) with the bimodal functionality of acting as a mirror and display. FDM is a rearview mirror which can capture surroundings with better angle and stream on display. It can be easily integrated with a camera monitoring system (CMS). In the smart mirror mode, it can record video, which helps in avoiding accidents and in finding the reason for an accident in case it happens. FDM is still a key feature for premium vehicles. However, with the rising awareness of advanced driver-assistance systems (ADAS), we will witness more penetration of FDM into mid-priced vehicles.

Gentex also exhibited a dimmable glass system, HomeLink car connectivity, Integrated Toll Module (ITM), an in-cabin sensing unit, and a smart lighting system. HomeLink is an embedded connectivity solution for vehicles which can perform functions like door lock, garage door opening, security, smart outlets, smart lighting and appliances. A vehicle integrated ITM helps users manage toll bills through a single solution, thus reducing traffic and improving efficiency in toll management. It has already entered partnerships with automakers and technology service providers for creating innovative solutions for customers. Gentex, one of the leading connectivity providers to automakers, is trying to bring a new concept to the digital cockpit and the coming autonomous age.

8. NXP announces BlueBox 3.0 AHPC development platform

NXP announced a new BlueBox 3.0 Automotive High-Performance Compute (AHPC) development platform which supports Level 2+ autonomous driving. NXP’s Layerscape LX2160A processor helps improve processing performance two times the previous generation of the platform while the S32G processor provides secured vehicle networking. As automakers will incrementally reach the full AV stage, this platform will help find near-term applications in Level 2+ and Level 3 automated vehicles. Since this platform is flexible and scalable, it can be updated with rising levels of autonomy.

9. Magna firms up EV and AV plan with a series of strategic pacts

Magna launched the LED-based Mezzo Panel for the Fisker ADAS panel. Mezzo Panel is a micro-LED and sensor-based polycarbonate panel which can be integrated into a vehicle body without affecting body aesthetics. Magna is also working on the Magna Vision Panel which is set to be showcased at the 2022 CES. Magna and Fisker are collaborating on building unique ADAS features and EV-sharing platforms.

LG Electronics and Magna have created a joint venture to concentrate on the electric powertrain market. In the CES last year, Sony surprised us by unveiling an EV prototype, Vision-S. In this year’s CES, Sony showed new videos of the Vision-S. Magna is one of the major partners for the Vision-S.

10. John Deere showcases VR technology for tractors

John Deere highlighted seed planting with the help of virtual reality (VR), AI and a camera system. A VR-based tractor will help improve precision during planting and work seamlessly in different environments. With the rising applications of 5G and IoT in the agricultural field, John Deere is attending the CES for the past few years. Besides showcasing major products and services in the passenger and commercial vehicle segments, the CES is also becoming a stage for unveiling products for small segments of the automotive industry, like farm equipment.

Related Posts:

Top

Market Summary

Market Summary

Tesla bets on in-house battery cell manufacturing

Other businesses see 33% YoY growth

Tesla converts 75% of its Bitcoins to fiat currency

Q2 2022 Financial Results

Market Outlook

Related Posts:

What makes a car “connected’’?

Use Cases for Vehicle Data

OEM’s slow approach to capitalize on the car data

What are the Data Aggregators?

Wejo

Otonomo

Conclusion

Hit the play button to listen to the podcast

Podcast Chapter Markers

Also available for listening/download on:

Related Posts

Why Xiaomi and Other Smartphone OEMs are entering EV Segment?

China: Large Market Potential for EVs

Counterpoint’s Take

1. Mercedes-Benz unveils a 56-inch ‘Hyperscreen’

2. GM reveals an ambitious EV plan and a flying car concept

3. Panasonic unveils augmented reality (AR)-based heads-up display (HUD)

4. Mobileye showcases plan for AV rollout

5. Here Technologies brings a new mapping-as-a-service offering and 3D city models for vehicles

6. Harman redefines in-car experience in the 5G era

7. Gentex reveals full display rearview smart mirror

8. NXP announces BlueBox 3.0 AHPC development platform

9. Magna firms up EV and AV plan with a series of strategic pacts

10. John Deere showcases VR technology for tractors

Coverage

Insights

Social media

Contact us

Term of Use and Privacy Policy