China’s leading electric car maker, BYD, just hit a new YTD EV sales record last week in its home country. BYD expects the momentum to continue with new EVs rolling out in key segments globally.
BYD hit a new weekly EV sales record in May
New data from Morgan Stanley (via Investing.com) shows electric vehicles outpaced their gas-powered rivals last week after recovering from the recent holiday in China.
Domestic brands had the biggest gains, with automakers like BYD, Li Auto, and NIO all seeing double-digit week-over-week (WOW) sales improvements. BYD had the biggest WOW improvement, with registrations up 30% to 69,500 last week.
Through May 12, BYD had 101,300 registrations in China. BYD sold 300,114 EVs globally in the first three months of the year, up 13.4% YOY. In April, BYD sold another 134,465 EVs, up 17% over April 2023. Through the first four months of 2024, BYD sold 434,579 electric cars.
Other domestic EV makers like Li Auto saw sales climb 50% WOW to around 8,000. NIO had a 23% improvement with new promotions pushing sales to 4,400 units.
BYD SEAL (Source: BYD)
NIO introduced the first EV, the L60 electric SUV, under its mass-market Onvo brand Wednesday. Starting at just $30,500 (219,900 yuan), NIO aims to compete with Tesla’s Model Y.
Meanwhile, Tesla’s sales declined 11% in China last week, with around 9,800 units sold. According to China Passenger Car Association data, Tesla sold 31,421 cars in China in April, down nearly 50% from the 62,398 sold in March.
BYD Atto 3 production (Source: BYD)
New models launching
BYD launched its own Tesla Model Y rival last week, the Sea Lion 07. The BYD Sea Lion 07 starts at $26,250 (189,900 yuan) as the first EV based on its new e-Platform 3.0 Evo.
Designed by ex-Lamborghini and Audi designer Wolfgang Egger, you can see influence from the iconic brands integrated into the electric SUV’s design.
BYD Sea Lion 07, the brand’s first “mid-sized urban smart electric SUV” (Source: BYD)
The new electric SUV is available in three powertrains, two single-motor, and one dual-motor AWD option.
BYD Sea Lion 07 trim
Starting price
Range (CLTC)
550 Standard
189,800 yuan ($26,250)
550 km (341 miles)
610 Long Range
199,800 yuan ($27,625)
610 km (379 miles)
610 Smart
219,800 yuan ($30,389)
610 km (379 miles)
550 4WD Smart Navigation
239,800 yuan ($33,154)
550 km (341 miles)
BYD Sea Lion 07 prices
The single motor variants are offered with 71.8 kWh or 80.64 kWh BYD Blade batteries for up to 550 km (341 mi) or 610 km (341 mi) CLTC range, respectively. The dual motor model gets up to 550 km (341 mi) CLTC range.
BYD’s new electric SUV undercuts Tesla’s best-selling Model Y, which starts at 249,900 yuan ($34,550) with up to 554 km (344 mi) CLTC range.
BYD Dolphin Mini (Seagull) testing in Brazil (Source: BYD)
The new electric SUV comes after BYD revealed a series of lower-cost “Honor Edition” versions of its most popular EVs. For example, its cheapest Seagull EV Honor Edition starts at just $9,700 (69,800 yuan).
BYD plans to launch a new Seal electric car, which currently competes with the Tesla Model 3. Little is known about the new EV, but it’s expected to debut in June.
BYD’s wide-reaching portfolio (Source: BYD)
The automaker is expanding into new segments like luxury with its Yangwang brand launching several new EVs.
Most recently, BYD introduced its first PHEV pickup, the BYD Shark, this week in Mexico. The BYD Shark will start at 969,800 pesos ($58,100) to rival the Toyota Hilux and Ford Ranger.
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).
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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).
Honda Prologue Elite (Source: Honda)
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
2025 Honda Prologue prices, range, and drive configuration by trim (Source: Honda)
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 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.
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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.
Kia PV5 spotted in Korea (Source: HealerTV)
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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