👋 Watts up? Volvo Cars recently released their figures for 2024, boasting over 170,000 electric vehicle sales, a 54% increase compared to 2023. If you include plug-in hybrids, then almost 50% of global sales were from electrified vehicles. Speaking of EVs, Yiwei is collaborating with CATL to utilise their new skateboard chassis technology for their upcoming models, including features like extended range and battery swapping capabilities. Learn more on these stories, and others, in todays issue.

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QotD: As of November 2024, what was CATL’s market share in EV batteries?

MARKETS

Data provided by Stock Analysis*

ELECTRIC VEHICLES

Volvo sold over 170,000 Electric Vehicles in 2024

🚗 Volvo Cars achieved a significant milestone in 2024, with global sales reaching 763,389 units, an 8% increase over 2023. While December sales dipped slightly, the year showcased notable growth in electrified vehicle sales, reflecting the company’s strong momentum in its transition towards sustainable mobility.

• Fully electric car sales rose by 54% to 175,194 units, and plug-in hybrid sales grew by 16% to 177,593 units.

• Electrified vehicles represented 46% of global sales, with fully electric models growing from 16% to 23% year-on-year.

• European sales led the charge with 369,685 cars sold, a 25% increase, with 65% being electrified vehicles.

• The US market saw a slight decline of 3% to 125,243 units, though electrified sales rose by 20%.

• China’s total sales fell by 8% to 156,370 cars, with modest growth in electrified vehicles.

Volvo’s strong performance in electrified markets, particularly in Europe, highlights its success in leading the shift towards sustainable transportation.

INFRASTRUCTURE

Yiwei to Build EV Models on CATL’s Skateboard Chassis

🔋 Yiwei has deepened its collaboration with CATL by signing a new agreement to develop innovative EV models using CATL’s skateboard chassis technology. This partnership, formalised on the 3rd of January, 2025, builds upon their 2024 strategic agreement centred on CATL’s Integrated Intelligent Chassis platform.

• Yiwei will prioritise CATL’s CIIC-S platform for its upcoming new energy vehicle programme, including battery swap-enabled, fully electric, and extended-range models.

• The partnership will advance research in thermal management, battery technology, and electronic systems.

• CATL’s CIIC platform accelerates vehicle development by decoupling the upper and lower vehicle bodies, reducing time-to-market.

• CATL’s technology has gained industry traction, with Neta Auto and Avatr Technology adopting its chassis platforms.

This collaboration strengthens Yiwei’s ability to produce diverse, high-quality EVs and demonstrates the companies’ shared commitment to driving innovation.

CLEAN ENERGY

Europe Approves €998 Million Wind Energy Acquisition

☀️ The European Commission has approved a €998 million joint acquisition by Germany-based EEW Holding and Japanese firm Sumitomo to enhance steel monopile production for offshore wind farms. The decision, made under the EU Merger Regulation, found no competition risks, ensuring a balanced market.

• The partnership combines Sumitomo’s steel market expertise with EEW’s offshore infrastructure specialisation, boosting Europe’s monopile production capacity.

• Offshore wind energy is pivotal to the EU’s climate goals, and this investment supports the development of critical infrastructure.

• Global demand for monopiles is increasing due to European climate targets and international needs, positioning Europe as a leader in this field.

• The EU also backs renewable energy projects, having allocated nearly €998 million to green hydrogen initiatives in the Netherlands and €80 million to advanced green hydrogen technology development.

This acquisition highlights the EU’s strategy to align private investments with renewable energy goals, fostering industrial growth while driving the clean energy transition.

TECHNOLOGIES

Stellantis to Implement Cloud-Based Development of Vehicles

📱 Stellantis has partnered with simulation leader dSPACE to accelerate the development of software-defined vehicles through cloud-based innovation. A Memorandum of Understanding signals their commitment to integrating dSPACE’s VEOS Software-in-the-Loop (SIL) platform into Stellantis’ Virtual Engineering Workbench (VEW), streamlining the development and testing of customer-focused features.

• The VEW enables engineers to test and refine vehicle software up to a year before hardware availability, conducting 80-85% of tests on SIL systems for rapid iteration.

• Stellantis’ advanced AI-powered platforms—STLA Brain, STLA SmartCockpit, and STLA AutoDrive—are designed within the VEW, supporting agile feature delivery for its 14 brands by 2025.

• The VEW’s Virtual Cockpit accelerates development cycles by up to 100 times compared to traditional methods, with 3,800 daily users driving innovation.

• Over-the-air updates and scalable development are central to enhancing the customer experience and product quality.

This collaboration highlights Stellantis’ vision for intelligent, connected vehicles and marks a leap forward in efficient, sustainable automotive development.

WE’RE AT CES!

We will be at the Consumer Electronics Show from the 7th to the 10th of January.

If you want to meet us, or want us to visit your stall, get in touch here.

We’ll see you there!

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Answer: 36.8%

*As of 13:00pm EST, on the same business day. Includes top movers.