BYD continues expansion to UK – could it pass Tesla in global BEV sales this year as projected?
Having already expanded into several countries throughout Europe, Build Your Dreams (BYD) has announced that sales of its EVs will begin in the UK this quarter. As the veteran Chinese automaker continues to expand its BEV production and sales presence around the globe, we wonder if 2023 is the year that BYD Auto usurps Tesla for the top spot in global sales.
BYD Auto is the automotive subsidiary of BYD Company founded two decades ago to develop and produce passenger cars, buses, trucks, and forklifts for China. More recently, the company has begun manufacturing rechargeable batteries and eBikes while shifting its manufacturing focus to BEVs and plug-in hybrid EVs.
In fact, BYD produced its final combustion vehicle in March of 2022, refocusing its business on a future that is not only entirely electric, but is globally recognized. This past summer, BYD shared plans to begin selling its EVs in the Japanese market. Just ten days later, the company followed up by promising EV deliveries in Germany and Sweden before the end of 2022.
With a current sales presence in the countries above plus Norway, Denmark, the Netherlands, and Belgium, BYD capped off the year by sharing plans for at least one, if not two, manufacturing facilities in Europe to support these markets and beyond. BYD continues to gain momentum headed into 2023, following a very successful year prior.
Now, the automaker plans to begin sales in the UK, another huge global market and a growing one for EVs especially. One where BYD can continue to try and compete against the current sales leader, Tesla. Even in China, BYD has pulled no punches in stating its BEVs are designed to compete against Tesla, and some have projected the former will overtake the latter in global EV sales this year.
BYD already overtook Tesla in 2022 if you count PHEV sales
That’s true, but this is Electrek, so we’re gonna focus on BEV sales. By beginning UK sales this quarter with the ATTO 3 seen above, BYD has added one of Europe’s largest market to its order sheet – one that saw BEV models account for roughly 17% of deliveries in 2022, overtaking diesel for the first time ever.
When you combine BYD’s six countries in Europe beginning EV sales with its current and expanding markets in Asia and Australia, then recognize the company’s widening manufacturing footprint, it’s hard to argue it’s recipe for success. At the very least, we’ll be able to look back and say BYD swung for the fences, but will it be enough to overtake Tesla?
According to BloombergNEF, BYD already overtook Tesla in global EV sales last year, but only if you count PHEVs and we’re simply not going to do that. We would like to point out, however, that Bloomberg is still projecting BYD to overtake Tesla in BEV sales as early as this year.
BNEF was the first to say that betting against Tesla has never fared well for those naysayers, but BYD’s 2022 sales numbers cannot be ignored. The Chinese automaker sold 911,140 BEVs last year, compared to 321,000 in 2021. That’s an 184% sales increase YOY.
The outlet expects Tesla’s BEV sales to grow by 30-40% this year on the wings of ramped up production at GigaBerlin and Austin, but it may come down to pricing and how many consumers Tesla can steal away from BYD and vice-versa. Despite BYD’s global expansion, much of its sales strength still comes from the Chinese market, another region Tesla EVs are sold. BYD’s distribution of sales could shift, however, as it gets its European manufacturing operational and assumedly expands to more and more markets.
Could BYD bring the fight to Tesla’s home turf in the US? The company isn’t showing its hand yet, so the immediate focus appears to be on Europe and Asia for now. But that could prove interesting in the future and could really put the BYD brand on the global map as a BEV automaker to be considered.
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Days after teasing a major reveal at the 2024 Specialty Equipment Market Association (SEMA) show, Kia has unveiled two unique and custom-built EV concepts designed for adventure off-road. During the unveiling, we got a look at a new spin on the ever-popular EV9 SUV called the “ADVNTR” and a rugged take on one of Kia’s new purpose-built vehicles (PBVs), the PV5, called “WKNDR.”
On October 30, Kia America posted a clandestine press release about an upcoming reveal at the annual SEMA show in Los Angeles. The first release featured a shadowy image of what appeared to be some off-road vehicle, with its recognizable Kia front fascia shining at the camera lens. The text read, “All roads lead to SEMA.”
We speculated that SEMA might be the event where Kia finally unveils the first of its two promised BEV pickup trucks. Since the headlamps closely resembled those of an EV9, we thought it could be the mule pickup we reported being tested in the US earlier this year. We were close.
Later that same day, Kia followed up with a second press release with the same title and quote but an image of a different off-road EV shining through the darkness, one that was much less recognizable.
Both releases had fine print stating that the vehicle in each image was a concept, so we curbed our expectations heading into this week’s 2024 SEMA show. This morning, Kia officially unveiled these two new off-road concept EVs, and they’re pretty cool looking. Have a gander at the EV9 ADVNTR and the PV5 WKNDR.
Kia unveils off-road concepts of its EV9 and PV5 EVs
According to the Korean automaker, designers from Kia Design Center America (KDCA) in Irvine, CA, imagined both off-road concepts. SEMA is usually a stage for OEMs to showcase concepts and accessories that are more rugged or heavy-duty.
Hence, the Kia team brought its A-game to Vegas with two new concept EVs that “intrinsically blend form and function into machines designed for responsible engagement with nature.”
The first is the EV9 ADVNTR, based on the three-row SUV that contributed to record sales for Kia in the US in October. Today, Kia shared that its off-road concept version of the EV9 is equipped with new custom front and rear facias, reinforced rocker panels, and rugged tires for more maneuverability in the elements.
Additionally, the EV9 ADVNTR can lift 3 inches higher than the standard 2025 SUV model and features a new roof rack that can haul luggage and hiking gear or support a roof-mounted tent.
In addition to the EV9 ADVNTR, Kia unveiled an off-road concept version of its new PV5 called the WKNDR. The PV5 is a middle-of-the-pack BEV in Kia’s latest ‘Purpose Beyond Vehicle’ lineup, which debuted at CES 2024.
While the standard PV5 was designed for commercial operations and last-mile deliveries, the Kia design team decided to take it off-road with the new WKNDR concept. This BEV van has been lifted and rigged with some hefty off-road tires, but like its predecessor, the interior of the PV5 WKNDR is what truly stands out.
Kia describes the off-road concept van as a “Swiss Army Knife on wheels,” offering a modular cabin that can be customized to an owner’s wants and needs. The conceptual design features a first-of-its-kind storage solution called the “Gear Head” feature that delivers off-board, sheltered storage space for equipment when the vehicle is stationary, maximizing interior space while providing owners with easy access to all their belongings.
Thanks to its modularity, Kia shared that the off-road van’s “Gear Head” space can also be converted into a mobile pantry for those foodies who want to assemble an array of cuisine while parked out in nature, or anywhere for that matter.
Kia also shared that its team designed the PV5 WKNDR to be self-sufficient as an off-road BEV. It features solar panels and hydro turbine wheels that can recharge the vehicle’s batteries and power other components, like an onboard compressor.
Since these remain mere concepts, we don’t have any performance specs for the Kia EV9 ADVNTR or PV5 WKNDR, nor can we confirm that either model will reach bonafide production for sale. However, Kia is thinking beyond its current lineup and is at least flirting with the idea of delivering some new models that would compete against the likes of Ford, Rivian, and recent reveals from VW Group’s Scout Motors.
At the very least, we may see some of these features and design elements in Kia’s upcoming BEV pickups. For now, however, these off-road EV concepts are an exciting exercise in design that once again shows how innovative and creative Hyundai Motor Group is across virtually all BEV segments.
We hope to see more concrete unveilings from the Korean automaker soon.
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With big discounts and lower-priced models hitting the market, electric vehicles are getting more and more affordable. Here are the EVs you can drive off in this November with lease prices under $300 a month.
EVs for lease for under $300 a month November 2024
New models like the Honda Prologue and Chevy Blazer, Equinox, and Silverado EVs are rolling out nationwide, giving buyers more options than ever.
According to Cox Automotive, over 100,000 EVs were sold in the US in September, the sixth straight month topping the 100K mark. Electric vehicles accounted for 9% of the US auto market, its highest to date.
The average transaction price (ATP) for new EVs was $56,328, but drastically higher incentives bring prices on par with or even under many comparable gas cars.
For example, the Honda Prologue electric SUV is available to lease for as low as $295 per month, including the down payment. That’s cheaper than a Honda Civic at $376 per month.
The Honda Prologue is one of the best EVs to lease this November. Here are the other models worth considering this month.
| Lease From | Term (months) |
Due at Signing | Effective rate per month (including upfront fees) |
|
| 2024 Nissan LEAF | $109 | 36 | $2,529 | $179 |
| 2024 Kia Niro EV | $169 | 24 | $3,999 | $336 |
| 2024 Kia EV6 | $179 | 24 | $3,999 | $346 |
| 2024 VinFast VF 8 | $199 | 36 | $894 | $244 |
| 2024 Hyundai IONIQ 5 | $159 | 24 | $3,999 | $326 |
| 2024 Honda Prologue | $259 | 36 | $1,299 | $295 |
According to online auto research firm CarsDirect, the Nissan LEAF retained the title of the cheapest EV you can lease in November listed at just $109 per month in Colorado.
With $2,529 due at signing, the effective monthly rate is just $179. However, the deal only includes state incentives, not offered elsewhere.
Kia’s Niro EV and EV6 are two of the best EV lease options this month, with monthly rates of $169 and $179.
After a recent price cut, the EV6 is offered at its lowest monthly rate since hitting the market. That’s for the Light Long-Range model with up to 310 miles of range.
The Hyundai IONIQ 5 remains a top lease option in November, with the updated 2025 model set for deliveries later this year. With lease prices starting at just $159 per month, Hyundai is offering its best-selling electric SUV at closeout prices.
Honda factors in a $1,000 conquest or loyalty offer in the lease deal. However, for a $48,000 electric SUV, the Prologue is still a steal.
Although not under $300, the Subaru Solterra is also worth considering at just $329 per month with no money down.
Ready to find your new EV? We can help you get started. Check out our links below to find the best deals on popular electric models in your area.
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