Here’s how BYD is working on its image problem
China’s BYD is selling millions of EVs, famously outselling Tesla in the last quarter of 2023, and riding an enormous wave of success. But not many Europeans (and practically no Americans) have ever heard of it, much less trust it as a reliable brand. But as the EV giant makes inroads outside of China, it is looking to change that, the old-school way, dealer by dealer.
While European automakers have been shifting over to direct sales à la Tesla, China’s BYD, for Build Your Dreams, along with Chinese peers Xpend and Great Wall Motor are looking to dealers to build sales and provide networks to help their brands build solid reputations and trust among Europeans. And now, BYD is setting up its BYD-only shop in Germany.
“European consumers have no inkling of Chinese brands,” Daniel Kirchert, the head of e-mobility consultancy Noyo and former BMW executive, told Automotive News Europe. “It’s a huge challenge for Chinese carmakers to make clear to Europeans that their cars are on par with Tesla, at a better price.”
Reuters reports that BYD just opened up its new BYD-only shop in Berlin in its latest move to grow the brand in a country that loves German cars and Teslas. The strategy is to help get German EV shoppers closer to the brand, raise brand awareness, and build sales of its affordable EVs in Europe’s largest automobile market. While BYD has done well in some European markets, it ranks a distant third among China’s Geely’s Volvo, Polestar, and Lotus, and MG brand, owned by SAIC, Automotive New Europe reports.
‘Just like Tesla, only cheaper’
The automaker is putting five models on sale in Germany at a shop owned by dealership Sternauto, which has exclusive rights to sell BYD cars in eastern Germany, Reuters reports. While the Atto3, Han, and Tang surely aren’t stunners, BYD is leaning on the fact that they are practical and affordable – and that strategy has worked well for other automakers expanding globally, such as Korea’s Hyundai and Kia. Plus BYD has thousands of engineers working to ramp up its smart tech game, so BYD is aiming for a just-like-Tesla-only-cheaper angle.
“One of the biggest topics for BYD is that it is not that familiar to German customers,” Oliver Hein, head of BYD for Sternauto, told Reuters. But that is changing, he says, as the brand is investing heavily in marketing.
BYD, too, is sticking to the auto show model to build its reputation, and will be among just a handful of big-name automakers attending the Geneva Motor Show, including Renault, Dacia, BG, and Lucid.
Last year, the company sold 1.6 million fully battery-electric vehicles, 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. Still, 90% of its revenue comes from sales in China.
While BYD is targeting Germany, which has been among the global leaders in its transition to EVs, the country is expected to see a 14% drop in EV sales this year.
BYD is also among the Chinese companies that have come under harsh scrutiny from Europe due to subsidy policies that put Europe at a competitive disadvantage, all while being thrust into a trade war with North America and Europe.
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.
Electrek reported yesterday that BYD had just signed a preliminary land purchase deal for its EV plant in Hungary. It is also building plants in Brazil and Thailand.
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Honda’s electric SUV took the US by storm, becoming the top-selling EV in the US outside of Tesla in the final three months of 2024. This year, Honda is making the Prologue even more attractive, upgrading it with over 300 miles of range. With 2025 Prologue models now arriving at dealerships, Honda wasted no time launching new deals this week.
2025 Honda Prologue EV deals and offers
After the first models were delivered last March, the Honda Prologue quickly became one of the best-selling electric vehicles in the US.
In the second half of 2024, the Prologue was the second best-selling electric SUV, trailing only the Tesla Model Y. This year, it boasts even more driving range and power.
Since Honda didn’t raise prices, it’s essentially a free upgrade (well, sort of). The 2025 Honda Prologue (2WD) now has a “top-class” EPA rating of 308 miles, up 12 miles from the outgoing model. It also packs 220 horsepower (+8) and 243 lb-ft of torque (+7).
The Prologue is still available in single-motor (2WD) and dual-motor (AWD) versions in three trims: EX, Touring, and Elite.
The AWD version now has a range of 294 miles (+13) for the EX and Touring trims and 283 miles (+10) for the Elite. It also now packs 300 horsepower (+12) and 355 lb-ft of torque (+25).
With DC fast charging speeds of up to 150 kW, the electric SUV can add 65 miles of range in around 10 minutes.
The 2025 Honda Prologue starts at $47,400, but with the $7,500 EV tax credit, prices could fall to under $40,000. And that’s for the EX single-motor version with up to 308 miles of range.
On Honda’s website, the 2025 Prologue is listed with a promotional rate of 2.99% APR for up to 60 months. Lease prices for the base model are not yet available, but the 2025 AWD EX is listed at $599 for 36 months with $4,299 due at signing.
Although the deals on the 2025 models are not nearly as good as the 0% financing and leases as low as $269 per month for the 2024 Prologue, Honda had to make up for the upgrades somewhere.
| Trim | Drive Configuration | Pricing | EPA Ratings | |||
| MSRP | After Federal EV Tax Credit | Plus $1,450 D&H |
Range Rating | MPGe Rating (City/Hwy/Combined) |
||
| EX | Single Motor (2WD) | $47,400 | $39,900 | $41,350 | 308 | 113 / 94 / 104 |
| EX | Dual Motor (AWD) | $50,400 | $42,900 | $44,350 | 294 | 108 / 90 / 99 |
| Touring | Single Motor (2WD) | $51,700 | $44,200 | $45,650 | 308 | 113 / 94 / 104 |
| Touring | Dual Motor (AWD) | $54,700 | $47,200 | $48,650 | 294 | 108 / 90 / 99 |
| Elite | Dual Motor (AWD) | $57,900 | $50,400 | $51,850 | 283 | 104 / 87 / 95 |
Honda is sweetening the deal with a charging package included in the Prologue’s price. You can choose from a free Level 2 home charger, a portable charging kit, or a $750 public charging credit.
The 2024 Honda Prologue is selling out fast with ultra-low lease and financing rates, while the 2025 model promises even more. Ready to try it out for yourself? You can use our link to find deals on the 2024 and 2025 Honda Prologue in your area today.
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In this photo illustration, the logo for the US tech firm “Block” is displayed and reflected in a number of digital screens on March 03, 2023 in London, England.
Leon Neal | Getty Images
With its stock down more than 30% this year and revenue growth slowing, Jack Dorsey’s Block is going bigger in lending.
The company on Thursday said it secured approval from the Federal Deposit Insurance Corporation to originate loans through its banking subsidiary, Square Financial Services, allowing it to offer small-dollar consumer loans directly rather than relying on external banking partners.
It’s an expansion of Cash App Borrow, the company’s short-term lending product. But it comes at a time of increased concerns surrounding consumer credit, with President Trump’s expansive tariffs and widespread government job cuts raising talk of a potential recession.
Transaction losses in Block’s lending segment jumped 39% last quarter, and while the company claims its underwriting model is strong, small-dollar lending is inherently risky.
“Cash App Borrow is designed to provide short-term cash flow in a simple and accessible way when alternatives are notoriously expensive and difficult for consumers to navigate,” Block said in the press release. The company added that the average Cash App Borrow loan was under $100 and about a month in duration.
Block didn’t immediately provide a comment.
In getting approval to operate the lending business out of its own bank, Block says it will be able to offer the product nationwide.
Last month, Block reported quarterly results that missed Wall Street expectations, with revenue growing just 4.5% from a year earlier. The stock plunged 18%, its worst one-day drop since 2020.
Around the same time, Block rolled out Afterpay, its buy now, pay later product, on the Cash App card. Chief Financial Officer Amrita Ahuja told CNBC that the launch aimed to provide customers with more credit options, and positioned Cash App as a banking alternative for some customers. Block acquired Afterpay, which competes with Affirm, for $29 billion in early 2022.
Also this week, Block announced a big investment plan in artificial intelligence.
The company said on Wednesday that it will deploy Nvidia’s AI systems with its latest Blackwell chips to power open-source AI research. Block didn’t say what specifically it’s looking to achieve through its AI buildout, but noted in the press release that it will “start exploring novel solutions for our customers.”
![Kia's first electric van looks even better in person [Video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/03/Kias-first-electric-van-PV5-1.jpeg?resize=1200,628&quality=82&strip=all&ssl=1)
Kia is launching its first electric van, the PV5, later this year. If you liked how it looked in pictures, wait until you see it in real life. A production PV5 was spotted in Korea for the first time, giving us a closer look at the futuristic van. See it for yourself in the video below.
Kia’s first electric van spotted in Korea
After teasing it for what seemed like forever, Kia finally took the sheets off the PV5 at its 2025 EV Day event last month.
With its hard-to-miss futuristic design, the PV5 is a near replica of the concept shown at CES last January. The mid-size electric van is set to kick off Kia’s new Platform Beyond Vehicle (PBV) strategy.
The PV5 will initially be available in Passenger, Cargo, and Chassis Cab setups, but with “unprecedented flexibility,” you can expect to see more options soon. Two of the first will be the PV5 Crew, with additional cargo securing options and a Wheelchair-Accessible Vehicle (WAV) version.
After that, Kia will follow it up with Drop Side, Box Van, Freezer, Box, and Prime variations. It plans to launch a Light Camper conversion.
With sales kicking off in the second half of 2025, Kia’s electric van was spotted in Korea for the first time without camouflage. A new video from HealerTV gives us a better idea of what to expect when the PV5 hits dealerships later this year.
The PV5 maintains its techy, almost ahead-of-its-time design. Two exterior body colors were shown: white and a darker grey or black. As the reporter notes, it actually looks like an upgrade from the concept.
Kia did what it could at the back so it didn’t look like a bus, giving it more of a rounded overall shape. You can see how it stands apart from most MPVs you see today.
Like the Volkswagen ID.Buzz, Kia’s PV5 looks more like a minibus. At 4,695 mm long, 1,895 mm wide, and 1,899 mm tall, Kia’s passenger electric van is slightly smaller than the European ID.Buzz model (4,712 mm long, 1,985 mm wide, 1,937 mm tall).
It will be available with 51.5 kWh and 71.2 kWh battery packs, good for up to 400 km (249 miles) WLTP range. The PV5 can also fast charge (10% to 80%) in about 30 minutes. In comparison, powered by an 84 kWh battery, the ID.Buzz now offers up to 293 miles WLTP range.
Kia will launch sales in Korea and Europe later this year, followed by other global markets in 2026. Pre-orders will open soon, so check back for prices.
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