Competitive assessment of 15 EV OEMs exploring their strategic positioning across the EV supply chain with performance ratings based on investments in battery material mining and refining operations and offtake agreements, cell manufacturing, EV charging infrastructure, and global expansion efforts.

Analysis

Manager, Clean Energy & Transport

Janire Riobello

Batteries

Road Transportation 

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<p></p>
<p>Stratas Advisors has analyzed OEM strategies in all segments of the electric vehicle (EV) supply chain to provide a competitive assessment which delves into five key elements: upstream investments (mining and refining of battery raw materials), long-term raw material supply agreements with third parties, investments in cell manufacturing, the development of branded EV charging infrastructure in key demand markets, and global expansion efforts. Largely reflecting global 2022 EV sales levels, BYD and Tesla remain leaders in EV supply chain localization, with BYD slightly outpacing Tesla thanks primarily to its investments in upstream operations and cell manufacturing, offsetting Tesla&rsquo;s better positioning in the sourcing of raw materials from third parties and in the development of a proprietary charging infrastructure network.&nbsp;</p>
<p>Despite increased efforts, all other OEMs lag at a significant distance from BYD and Tesla, yet competition among the former is expected to remain fierce over the coming years. Volkswagen&rsquo;s rank largely matches its positioning in global EV sales as the third-largest EV brand after BYD and Tesla. With a strong global presence and plans to roll out fast charging DC proprietary networks in key EV markets, Volkswagen&rsquo;s overall score is primarily supported by its cell manufacturing efforts through subsidiary PowerCo, expected to become one of Europe&rsquo;s top players in this category. As the world&rsquo;s fourth-largest EV conglomerate thanks to top-selling models such as the Chevrolet Bolt and the Wuling Hongguang Mini EV, General Motors holds a strong positioning in Stratas Advisors' EV supply chain scorecard, although Ford and Great Wall Motors earn the highest recognition as their rankings pump above their relative market share in global EV sales. This severely diverges from the strategic positioning of other major OEMs, which are expected to continue to rely on well-established battery OEMs to secure materials and cell supply. In particular, despite accounting for a combined 17.5% of global EV sales in 2022, GAC Aion, Renault, BMW, and Hyundai all trail significantly relative to their sales level, obtaining scores below 0.95 points.&nbsp;</p>
<h4>EV Supply Chain Scores of Selected OEMs</h4>
<p><img src="https://cdn.aglty.io/stratas-advisors/upload/mceu_57262234441685547233527.png?w=800" /></p>
<p>In order to determine an overall ranking, Stratas Advisors provides a detailed overview of the key investments made by OEMs to assign a score for each category following the assumptions below:</p>
<ul>
<li>Upstream Investments: direct investment, stakes, or shares in an upstream activity to mine and/or refine raw materials into battery-grade metals, or to upgrade battery-grade metals into cathode or anode active material. This analysis is based on investments in the mining and refining of cobalt, graphite, lithium, and nickel.</li>
<li>Long-term Raw Material (RM) Offtakes: supply contracts or memoranda of understanding (MOU) concluded with third parties, including miners, refiners, CAM/AAM producers, and commodity traders. The score is based on total contracted volumes per material, duration and status of the contract, feasibility of the project (if not yet operational), and geographical distribution of contracted volumes (if multiple contracts for the same material).</li>
<li>Cell Manufacturing: direct investments or joint ventures with battery cell manufacturers. The score is based on total capacity (existing and planned), geographical distribution, and technology deployed.</li>
<li>Charging Infrastructure: the score considers the (planned) existence of proprietary chargers, the expansion and geographical distribution of branded charging infrastructure, the plug type and power of branded chargers, and the development of battery swapping stations, if applicable.</li>
<li>Global Expansion: the score considers global sales of full-electric and plug-in hybrid models in 2022 on the one hand, and the planned expansion to other markets and the corresponding EV lineup, if applicable, as well as the (planned) geographical distribution of EV assembly lines, on the other.</li>
</ul>
<p></p>
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EV Competitor Supply Chain Scorecard: BYD & Tesla Dominate as Competition Intensifies Among Emerging OEMs

<p>Stratas Advisors has analyzed OEM strategies in all segments of the electric vehicle (EV) supply chain to provide a competitive assessment which delves into five key elements: upstream investments (mining and refining of battery raw materials), long-term raw material supply agreements with third parties, investments in cell manufacturing, the development of branded EV charging infrastructure in key demand markets, and global expansion efforts. Largely reflecting global 2022 EV sales levels, BYD and Tesla remain leaders in EV supply chain localization, with BYD slightly outpacing Tesla thanks primarily to its investments in upstream operations and cell manufacturing, offsetting Tesla&rsquo;s better positioning in the sourcing of raw materials from third parties and in the development of a proprietary charging infrastructure network.&nbsp;</p>
<p>Despite increased efforts, all other OEMs lag at a significant distance from BYD and Tesla, yet competition among the former is expected to remain fierce over the coming years. Volkswagen&rsquo;s rank largely matches its positioning in global EV sales as the third-largest EV brand after BYD and Tesla. With a strong global presence and plans to roll out fast charging DC proprietary networks in key EV markets, Volkswagen&rsquo;s overall score is primarily supported by its cell manufacturing efforts through subsidiary PowerCo, expected to become one of Europe&rsquo;s top players in this category. As the world&rsquo;s fourth-largest EV conglomerate thanks to top-selling models such as the Chevrolet Bolt and the Wuling Hongguang Mini EV, General Motors holds a strong positioning in Stratas Advisors' EV supply chain scorecard, although Ford and Great Wall Motors earn the highest recognition as their rankings pump above their relative market share in global EV sales. This severely diverges from the strategic positioning of other major OEMs, which are expected to continue to rely on well-established battery OEMs to secure materials and cell supply. In particular, despite accounting for a combined 17.5% of global EV sales in 2022, GAC Aion, Renault, BMW, and Hyundai all trail significantly relative to their sales level, obtaining scores below 0.95 points.&nbsp;</p>
<h4>EV Supply Chain Scores of Selected OEMs</h4>
<p><img src="https://cdn.aglty.io/stratas-advisors/upload/mceu_57262234441685547233527.png?w=800" /></p>
<p>In order to determine an overall ranking, Stratas Advisors provides a detailed overview of the key investments made by OEMs to assign a score for each category following the assumptions below:</p>
<ul>
<li>Upstream Investments: direct investment, stakes, or shares in an upstream activity to mine and/or refine raw materials into battery-grade metals, or to upgrade battery-grade metals into cathode or anode active material. This analysis is based on investments in the mining and refining of cobalt, graphite, lithium, and nickel.</li>
<li>Long-term Raw Material (RM) Offtakes: supply contracts or memoranda of understanding (MOU) concluded with third parties, including miners, refiners, CAM/AAM producers, and commodity traders. The score is based on total contracted volumes per material, duration and status of the contract, feasibility of the project (if not yet operational), and geographical distribution of contracted volumes (if multiple contracts for the same material).</li>
<li>Cell Manufacturing: direct investments or joint ventures with battery cell manufacturers. The score is based on total capacity (existing and planned), geographical distribution, and technology deployed.</li>
<li>Charging Infrastructure: the score considers the (planned) existence of proprietary chargers, the expansion and geographical distribution of branded charging infrastructure, the plug type and power of branded chargers, and the development of battery swapping stations, if applicable.</li>
<li>Global Expansion: the score considers global sales of full-electric and plug-in hybrid models in 2022 on the one hand, and the planned expansion to other markets and the corresponding EV lineup, if applicable, as well as the (planned) geographical distribution of EV assembly lines, on the other.</li>
</ul>
<h4><strong>Subscribers of our <a href="https://www.stratasadvisors.com/services/renewable---alternative-fuels/cleantech-and-battery-supply-chains" target="_blank" rel="noopener">CleanTech and Battery Supply Chains</a> and <a href="https://www.stratasadvisors.com/services/transportation---demand/global-automotive" target="_blank" rel="noopener">Global Automotive</a> services can access the full content of this article.</strong></h4>

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CleanTech and Battery Supply Chains,Global Automotive