Palm Beach, FL – October 26, 2022 – FinancialNewsMedia.com News Commentary: As the Electric Vehicle (EV) market grows over the coming years, NOW is the time for new entrants to enter into the manufacturing sector… new business opportunities that evolve as e-mobility grows. The automotive industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles. It is one of the world’s largest industries by revenue. As soon as the production of EVs started it opened up doors for several new business opportunities. As electric mobility gains momentum, the manufacturing industry also grows. We have classified the manufacturing business into four main categories. They are electric vehicle manufacturing, EV battery manufacturing, powertrain components manufacturing, electric vehicle supply equipment manufacturing. A report from Allied Market Research projected that the global EV market is projected to reach $823.75 billion by 2030, registering a CAGR of 18.2% through 2030. An article on LinkedIn said that: “As the electric vehicle industry gains momentum, it is pretty easy for new players to enter the EV manufacturing business. You can see that Tesla was an early bird in the EV manufacturing business and now became a well-established brand. There is still room for EV manufacturing startups. If you can manufacture high-quality premium electric vehicles for an affordable price, you may succeed in the market… there are a lot of innovations happens in the electric vehicle industry. Active Companies in the markets today include: Mullen Automotive, Inc. (NASDAQ: MULN), Li Auto Inc. (NASDAQ: LI), Workhorse Group Inc. (NASDAQ: WKHS), XPeng Inc. (NYSE: XPEV), NIO Inc. (NYSE: NIO).
The increased electric vehicle manufacturing opens up the opportunity for dealerships and franchises… (and) Electric Mobility opens up a lot of business opportunities. Forbes added: “EVs will bring, it also represents incredible opportunity for manufacturers willing to think ahead and invest early… The number of companies that existed to build horse and buggies plummeted at the turn of the 20th century—from 13,800 in 1890 to only 90 in 1920. A century later, as fate would have it, it’s likely we’re entering a similar phase with the combustion engine vehicle… there is opportunity throughout the EV ecosystem. The automotive manufacturers that prepare for the inevitable transition to an electric vehicle ecosystem will be the ones who not only survive, but flourish, in a fully electric future.”
Mullen Automotive, Inc. (NASDAQ: MULN) BREAKING NEWS: Mullen FIVE “Strikingly Different” EV Crossover Tour Starts Tomorrow, Oct. 27th in Pasadena, CA; New Los Angeles Area Stop Added – Mullen Automotive, Inc. (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces today the beginning of the Mullen FIVE Strikingly Different EV Crossover Tour on Oct. 27th in Pasadena, CA and, due to overwhelming interest, new dates have been added for Nov. 1st and 2nd at Angel Stadium in Anaheim, CA.
The public will have the chance to experience the Mullen FIVE in person this week, starting on Thursday and Friday in Pasadena, CA. Mullen will be showcasing PERSONA, their propriety Personal Vehicle Assistant (PVA) and its propriety infotainment technology, on display and providing an exciting first-hand experience. PERSONA, featuring facial recognition technology, which will be featured during the tour, is the heart of the Mullen FIVE infotainment and technology. It completely personalizes the vehicle and driving experience for the consumer.
Los Angeles, CA
Angel Stadium| Anaheim, CA
Address: 2000 E Gene Autry Way, Anaheim, CA 92806, USA
Dates: Nov. 01 – Nov. 02
“When we announced the Pasadena location, we received an overwhelmingly positive response and were completely booked out in a matter of hours. So, we decided to add an additional LA area stop to ensure more people have the opportunity to experience the FIVE,” said David Michery, CEO and chairman of Mullen Automotive. “It’s been a remarkable journey for us to get to this point of officially starting the Mullen FIVE demonstrator U.S. tour, we’re beyond grateful for the incredible support we’ve received so far.”
For the remainder of 2022, Mullen will continue the “Strikingly Different” Tour in the following cities with exact dates, locations, and times announced on or before Nov. 1, 2022. Please visit MullenUSA.com to learn more about the upcoming Mullen FIVE “Strikingly Different” Tour. CONTINUED… Read this full release for Mullen Automotive at: https://www.financialnewsmedia.com/muln-news/
Other recent developments in the markets include:
Li Auto Inc. (NASDAQ: LI) recently announced that the Company delivered 11,531 vehicles in September 2022, up 62.5% year over year. The deliveries included 10,123 Li L9s, the Company’s six-seat, flagship smart SUV for families, in its first full month of deliveries. The September delivery brought the Company’s third quarter deliveries to 26,524, representing a 5.6% year-over-year increase. The cumulative deliveries of Li Auto vehicles reached 211,015 as of the end of September.
“Our delivery of over 10,000 Li L9s in September marks the first time a domestic branded premium model priced above RMB400,000 has achieved this monthly delivery milestone, establishing Li L9 as one of the top choices of full-size SUV for family users in China. As a full-size SUV priced at RMB459,800, Li L9’s outstanding sales performance is a testament to our ongoing efforts to build and refine our in-house research and development, supply chain, and intelligent manufacturing capabilities,” commented Yanan Shen, co-founder and president of Li Auto. “Thanks to these capabilities, we also have received positive user feedback on our two newest models, Li L8, a six-seat, large premium smart SUV for families, and Li L7, a five-seat, large flagship smart SUV for families, which debuted on September 30. Li L8 showroom models will start to arrive at Li Auto retail stores nationwide today, and we welcome everyone to visit our retail stores for a closer look. The delivery of Li L8 will commence in November.”
Workhorse Group Inc. (NASDAQ: WKHS) recently announced it will hold a conference call on Tuesday, November 8 at 10:00 a.m. Eastern time (7:00 a.m. Pacific time) to discuss its financial results for the third quarter ended September 30, 2022 as well as the Company’s plans and outlook. Financial results will be issued in a press release prior to the call.
Workhorse management will host the presentation, followed by a question-and-answer period.
Date: Tuesday, November 8, 2022
Time: 10:00 a.m. Eastern time (7:00 a.m. Pacific time)
U.S. dial-in: 877-407-8289
International dial-in: 201-689-8341
XPeng Inc. (NYSE: XPEV) recently unveiled a series of groundbreaking technical achievements and industry firsts at its fourth annual 1024 Tech Day held at its Company headquarters in Guangzhou. Showcasing XPENG’s in-house, full-stack R&D capabilities, this year’s event featured XPENG’s next-generation neural network-based perception architecture, closed-loop AI and data management platform, industry leading voice and smart cabin technologies, and the latest developments in its mobility ecosystem, including latest robotaxi, flying car and robotics endeavors.
“Our strong technological R&D capabilities allow us to fulfill customer needs with innovations,” said He Xiaopeng, Chairman & CEO of XPENG, at the 2022 Tech Day. “Driven by our vision of ‘tech for the greater good’ and customers’ evolving demands, we continue to reach technical breakthroughs and set new industry benchmarks. Our staunch IP also provides significant barriers to entry, propelling our considerable head start. Each component we originate for our mobility ecosystem strengthens our proprietary platform and competitive advantage, while providing a springboard for our significant future growth.”
NIO Inc. (NYSE: NIO) recently announced its September and third quarter 2022 delivery results. NIO delivered 10,878 vehicles in September 2022. The deliveries consisted of 7,729 premium smart electric SUVs including 1,895 ES7s, and 3,149 premium smart electric sedans including 2,928 ET7s and 221 ET5s. NIO delivered 31,607 vehicles in the third quarter of 2022, increasing by 29.3% year-over-year and achieving record-high quarterly deliveries. Cumulative deliveries of NIO vehicles reached 249,504 as of September 30, 2022.
NIO will host NIO Berlin 2022, a launch event in Europe under the theme “A New Horizon”, on October 7, 2022. The NIO Berlin 2022 will be livestreamed globally at 6:00 PM Central European Time (12:00 PM U.S. Eastern Time on October 7, 2022, or 12:00 AM Beijing Time on October 8, 2022), through the following platforms: nio.com, NIO App, YouTube@NIO.
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