China says it will ‘rein in’ the flood of EVs coming our way
Europe and the US say that Chinese EV development is running wild and unchecked and on the verge of overwhelming the global market with, well, EVs the rest of the world can’t compete with. But now China has said it will “rein in” some of its huge EV expansive in response to criticism of “unfair” industrial and trade policies.
The Financial Times reports that the Beijing government will control “blind” construction of new EV projects happening within the country by taking “forceful measures.” What that means is anyone’s guess.
“There are also some disorderly competition behaviors,” Xin Guobin, vice-minister of industry and information technology, told the Financial Times.
China’s EV industry is a true powerhouse, and one of the few economic bright spots for the country, reports the FT. But it has come under harsh scrutiny from Europe in particular, due to subsidy policies that put Europe at a competitive disadvantage, all while being thrust into a trade war with North America and Europe.
Back in September, the EU launched an investigation into the Chinese EV industry, as European companies are struggling to compete with the cheap, high-tech Chinese imports, made by low-cost labor, entering the EU. The EU is probing into what it says are unfair subsidies and bank lending campaigns from Beijing that fueled the outsize growth in China, with fears that China is building EV plants far beyond levels needed for domestic demand. Meanwhile, the US and Europe are tightening their rules on Chinese cars and EV parts being sold in their countries, with tariffs so high in the US that China has turned its focus on other areas, namely South America, Asia, and Europe.
China last year overtook Japan as the world’s biggest car exporter – but most of those were ICE vehicles sold to Russia. Still, it’s no surprise that China-made EVs and batteries are becoming a big business outside of China, with BYD alone selling 1.6 million fully battery-electric vehicles last year, overtaking Telsa in overall BEV sales. Adding up sales for all so-called new energy vehicles, including battery-only vehicles and plug-in hybrids, BYD sold 3 million vehicles in 2023.
Electrek’s Take
In China, there are more than 94 brands offering more than 300 EV models, according to Counterpoint Research, but Geely and BYD are some of the companies making the biggest impact outside of China. So reining in some of this, I’m not sure that will make much of a difference, other than to assure some good faith efforts – because for China to truly succeed as the dominant player in the world, it will need to rely on more than just a quality product alone (not to mention the fact it controls the supply chain). And momentum is already well on its way, with BYD pushing international growth with its plans to build an EV factory in Hungary, and other automakers are looking to set up production in Europe as well. Chinese companies MG, BYD, and Chery have also been scouting sites in Mexico and talking to officials for better access to the North American market, according to the Financial Times. MG is planning to build a $2 billion factory, while BYD is ramping up investments worth hundreds of millions for its own factory – actions which have set off alarm bells in Washington. Geopolitical competition – there is no way to wrap it all up in a tidy bundle, but rather this story is surely to become a lot more complex in the coming year.
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On today’s festive episode of Quick Charge, Tesla steps up for its owners by calling in mobile charging stations to cut down on wait time. Meanwhile Hyundai has some extra goodies for your stockings and Texas is cleaning up its act.
We’ve also got big savings for Toyota bZ4X and Subaru Solterra shoppers, as well as some good environmental news in the form of new solar and wind projects coming online at a record clip, and a dirty Texas mine that’s cleaning up its act.
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Dodge is rolling out a hefty discount on the 2025 Charger Daytona EV even though it hasn’t officially hit the market yet. According to a dealer bulletin, the 2025 Daytona EV qualifies for a juicy $3,000 discount, but you won’t see it advertised anywhere. Here’s how you could snag this deal and save big.
On December 13, Stellantis introduced the BEV Dealer Cash Coupon Program, an incentive program designed to sweeten the deal on electric Dodge models. Under this program, dealers get a $1,000 cash coupon for the Charger Daytona – and here’s the kicker – they can stack up to three of these coupons for a total of $3,000 in savings. Unlike traditional rebates that go directly to the buyer, dealers have the option to keep the incentive as extra profit.
The program covers both the 2024 and 2025 Dodge Charger Daytona EVs for purchases and leases. But there’s more: if you’re leasing, you can stack that $3,000 dealer cash with a $7,500 lease incentive tied to a commercial tax credit (unavailable when buying). Add it all up, and you could score a whopping $10,500 in savings. This deal is slated to end on April 30, 2025, so there’s time to plan your move.
For some context, the 2024 Dodge Charger EV starts at $61,590, including destination fees. With $10,500 in potential savings, that’s an impressive 17% discount off MSRP—and that’s before you factor in any additional dealer discounts. Interestingly, Dodge has a higher-than-usual difference between invoice and MSRP pricing on the Daytona, meaning there’s room for negotiation if you’re savvy.
Of course, there are a few things to watch out for. Dealer participation varies, so your results may depend on where you shop. Plus, Dodge hasn’t released pricing for the 2025 Charger Daytona yet, so there’s some guesswork involved. Still, if you’re hunting for a bargain, the 2024 Charger EV stands out as one of the best financing deals right now, offering 0% interest for up to 72 months.
Click here to find a local dealer that may have the 2024 Dodge Charger Daytona EV in stock.–trusted affiliate link
Source: Stellantis via CarsDirect
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Toyota’s electric SUV may soon get a fresh start. After a rocky debut, the Toyota bZ4X is reportedly due for a rebrand, with a new name coming as soon as 2026.
Is Toyota giving the bZ4X a new name?
After launching the bZ4X in 2022, Toyota’s first electric SUV had a bumpy market debut. In June 2022, all bZ4X models were recalled over concerns that the wheels could fall off.
Since then, Toyota has struggled to gain traction. Through the first nine months of 2024, Toyota sold 13,577 bZ4X models in the US. Although that’s double the roughly 6,500 sold through Q3 2023, it’s still less than 1% of its over 1.7 total vehicles sold through September.
As Toyota looks to turn things around, the bZ4X is due for a complete rebrand. Speaking at a recent auto press event in Quebec, a regional director for Toyota Canada said the company is preparing to change the bZ4X name.
According to Motor Illustrated, Patrick Ryan, Toyota’s regional director for Quebec and Atlantic Canada, said the name change will occur over the next year.
Toyota just revealed the 2025 bZ4X last week, so it will likely be for the 2026 model year. Prices for the 2025 Toyota bZ4X start at $37,070 in the US, or $6,000 less than the outgoing model. The FWD model has an EPA-estimated range of up to 252 miles, while the AWD trim has a range of up to 222 miles.
Toyota promotes its bZ branding as “beyond Zero” in reference to EVs cutting emissions. Meanwhile, the “4” determines its format (think RAV4), and the X tells us it’s a crossover.
In the US, all Toyota vehicles are badged with an actual name other than the RAV4 and bZ4X. A new name may make sense since bZ4X is a bit of a tongue twister and had a less-than-favorable reception.
After unveiling its new Urban Cruiser electric SUV earlier this month, will Toyota follow a similar route with the bZ4X? Although its first three-row electric SUV is now delayed until 2026, we could see a completely different naming system rollout.
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