BYD is significantly lowering EV prices in Germany to extend its global lead. The automaker slashed prices by up to 15% on its most popular EVs.
BYD cuts EV prices in Germany in overseas expansion
After overtaking Tesla in EV sales in the last three months of 2023, BYD aims to extend its lead in key markets.
Most recently, BYD cut prices in Germany, Volkswagen, BMW, and Porsche’s home turf. According to the German auto newspaper Automobilwoche, BYD has lowered EV prices by up to 15% in Germany.
This includes its best-selling Atto 3 (Yuan Plus in China). The Atto 3 went on pre-sale in Europe in September 2022, with prices starting at 38,000 euros ($41,700).
As per a recent Automotive News Europe article, BYD Atto 3 prices were around 47,000 euros earlier this year. At 15% off, that would suggest that the electric SUV starts at under 40,000 euros ($43,000).
BYD’s Atto 3 features a 60.48 kWh Blade battery that’s good for 420 km (260 miles) WLTP range. At 4,455 mm (175″) long, 1,875 mm (74″) wide, and 1,615 mm (63″) tall, the Atto 3 competes with the VW ID.4 and Tesla Model Y in Europe.
BYD Atto 3 (Source: BYD)
The news comes as Volkswagen cut EV prices earlier this week to keep pace with Tesla. At 40,000 euros, BYD’s electric SUV is in line with the ID.4 (43,900 euros) and Tesla Model Y (44,890 euros).
The Atto 3 (Yuan Plus) sells for around $18,700 (135,800 yuan) in China. BYD’s electric SUV hit a major milestone as the 500,000th model rolled off the line in September.
BYD Atto 3 (Source: BYD)
BYD cutting EV prices in Germany comes as its first cargo ship arrived at Yantai port this week. The next stop is BYD’s home base in Shenzhen, where it will load EVs to ship to Europe. The BYD Explorer No. 1 will “ensure BYD’s rapid delivery and expansion of overseas markets,” according to CIMC, which built the vessel.
Electrek’s Take
BYD continues gaining market share in key auto markets with affordable all-electric options. Although BYD is best known for its low-cost EVs like the Atto 3 and Dolphin electric hatchback, it’s expanding into new segments.
The EV leader unveiled its new 1,000 hp U7 sedan, part of its Yangwang luxury brand, launched last year. BYD’s U7 will join the U8 off-roader in its expanding lineup of vehicles priced above 1 million RMB ($140,000).
BYD also revealed two new mid-size electric SUVs, the Sea Lion 07 and Song L, as it looks to extend its lead in the EV market. The Song L was launched last month at $26,700 (189,900 RMB).
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A fully electric Isuzu pickup truck? That’s right. The D-MAX EV is Isuzu’s first electric pickup, and it will be rolling in the next few months. After kicking off mass production, Isuzu said the new EV pickup will “match the performance of existing diesel models,” boasting high towing capacity and payload.
Isuzu’s first electric pickup is launching in 2025
Isuzu announced on Tuesday that the D-MAX EV has officially entered mass production. The company has started building left-hand drive models, which will be shipped to Europe in the third quarter of 2025.
By the end of the year, production of right-hand drive models will begin for the UK, with sales expected to start in 2026.
The electric pickup is nearly identical to Isuzu’s popular gas-powered D-MAX, but swaps the diesel powertrain for a pair of electric motors. The D-MAX EV features new e-Axles, one on the front and the other at the rear, for a full-time 4WD system.
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The dual-motor powertrain enables it to match the performance of existing diesel models, with a combined 188 hp (140 kW) and a maximum torque of 240 lb-ft (325 Nm).
It can also tow over 7,700 lbs (3,500 kg) with a maximum payload of over 2,200 lbs (1,010 kg). That’s about the same as the D-MAX diesel, which has a 3,500 kg towing capacity and a payload capacity of up to 1,200 kg.
Powered by a 66.9 kWh battery, Isuzu’s first electric pickup boasts a driving range of up to 263 km (162 miles) on the WLTP. In the city, it can have a driving range of up to 224 miles (361 km).
Isuzu D-Max EV specs
Drive System
Full-time 4×4
Battery Type
Lithium-ion
Battery Capacity
66.9 kWh
Max Output
130 kW (174 hp)
Max Torque
325 Nm
Max Speed
Over 130 km/h (+80 mph)
Max Payload
1,000 kg (+2,200 lbs)
Max Towing Capacity
3.5t (+7,700 lbs)
Isuzu D-Max EV electric pickup specs
Built for on and off-road performance, the rugged electric pickup features over 8″ (210 mm) of ground clearance with a wading depth of nearly 24″ (600 mm).
Although prices have not been announced, the D-MAX EV is expected to start slightly higher than the diesel model, which has a base price of around € 36,500 ($41,600).
Isuzu’s popular D-MAX is sold in over 100 countries, including Europe, Asia, the Middle East, and Central and South America. The electric version will arrive in Europe in the next few months, followed by the UK and other regions in 2026.
The electric D-MAX will compete with the Toyota Hilux, Ford Ranger, and other electric pickups, such as Geely’s Radar R6, BYD’s Shark, and Ford’s F-150 Lightning.
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For the first time in five years, a Tesla insider required to report Tesla stock transactions bought stocks rather than selling them.
But the transaction is so small that it makes the whole situation hilarious.
Insiders in public companies are top executives and board members who are required to report to the SEC any transaction related to the company’s stock.
For Tesla, it has become a running joke that insiders only sell, never buy the stock.
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This has been true without exception for years.
We don’t know as much about executives as Tesla has a very short top executive bench who are required to file transactions. However, when it comes to its board members, they have been selling at an impressive rate.
However, we now have confirmation that a Tesla board member is buying, rather than selling.
Joe Gebbia, the Airbnb co-founder who joined Tesla’s board in 2022, confirmed that he bought 4,000 shares in Tesla last week worth about $1 million:
Electrek’s Take
Gebbia is estimated to be worth over $7 billion. Therefore, his purchase of $1 million worth of Tesla stock would be equivalent to my buying a fractional share in Tesla.
Furthermore, the disclosure confirmed that despite being on the board for the last 3 years, Gebbia owned only 111 shares in Tesla before the transaction.
That’s quite the show of confidence in Tesla.
Thie whole situation with the board is disappointing. Tesla’s core business is melting. The company reported its worst quarter in years last week, and the stock surged 20%.
None of it makes any sense.
The board is sitting on its hands while the most powerful force accelerating the advent of electric transport is being destroyed in favor of nonsensical predictions about the potential of solving self-driving and humanoid robots.
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Venmo, long a centerpiece of PayPal‘s growth story but often criticized for its lack of monetization, is becoming a bigger contributor to the business.
PayPal said Tuesday in its first-quarter earnings release that revenue at Venmo increased 20% year-over-year in the first quarter, though the company didn’t provide a dollar figure. PayPal acquired Venmo in 2013 through the acquisition of parent company Braintree.
While it’s long been a popular consumer service for sending money to friends, Venmo’s ability to drive meaningful revenue has been a major question mark for investors, especially as competition from rivals like Zelle and Square Cash has intensified.
Venmo’s total payment volume rose 10% from a year earlier, but revenue grew twice as fast, reflecting the business opportunity. Venmo only gets revenue from specific products like Pay with Venmo at online checkout, Venmo debit cards, and instant transfers, but not from peer-to-peer payments.
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Ahead of the earnings report, Jefferies analysts noted that Venmo revenue growth appeared to be “accelerating sharply” and flagged its rising contribution to branded checkout as a key area to watch. Compass Point analysts similarly said that while competition from Zelle and Square Cash remains fierce, Venmo’s traction with debit cards and online checkout could “open up new monetization avenues” if adoption trends continue.
The company added nearly 2 million first-time PayPal and Venmo debit card users during the quarter, and total debit card payment volume across PayPal and Venmo climbed more than 60%. Meanwhile, Pay with Venmo transaction volume surged 50% year over year, and Venmo debit card monthly active users grew about 40%.
PayPal reported better-than-expected earnings for the quarter but missed on revenue. The company reaffirmed its full-year guidance, citing macroeconomic uncertainty.