Tesla is the world's most popular electric car manufacturer. But there is a great company that you see relatively closely in the rearview mirror: Volkswagen. The German is one of the few that approaches the monopoly of Elon musk and war is raging on a new terrain: batteries.
Volkswagen had its Battery Day on September 15 and Tesla on September 22. Goldman sachs in his last report he analyzes the strategies of each to overtake the other on the right.
Let's talk about Volkswagen first. The German manufacturer exuded confidence on its Battery Day stating that initial orders for its ID.3 have been strong and expects to receive orders for its ID.4 from this September. By 2030, the company expects to increase the market share of its BEV model by 30%.
Delving into her battery, the Germanic expects a sharp rebound in demand for it. On the price, Volkswagen echoes a study (which includes government aid in each case) and its conclusion: the average cost per kilometer of an electric car is lower than that of a gasoline-powered Golf.
And what about Tesla? Those of Elon Musk were especially ambitious when it comes to their batteries, which they aim to reduce by 56% by 2025. "We expect the company to lead the electric car market and be partially successful in reducing costs and increasing capacity, "acknowledges Goldman. However, the goal of 20 million vehicles by 2030 "goes beyond our expectations."
As main catalysts for the title, to which they maintain a recommendation of 'neutral' and a target price that predicts falls of 5.7% from their current levelsGoldman points out two: "Its plan to launch the $ 25,000 electric car in just three years and its entry into other sectors such as 'semi trucks' (articulated truck).
57,000 MILLION, THE 'BILL' OF EUROPE IN THE FULL PANDEMIC
Goldman Sachs also looks at the electric car sector from a more zenith point of view. For the European market, it foresees that, according to the aid currently offered (4,700 euros per car on average), the subsidies will have to double from the current 3,500 million euros to 57,000 million by 2025.
In the absence of seeing if the governments of the Old Continent maintain their aid to the electric car in the midst of the coronavirus crisis, by 2030 the aid would multiply to 173,000 million euros. If we go further with the restrictions on CO2 emissions, as has been published in some media, the subsidies will amount to 219,000 million in 10 years.
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