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CATL is doubling down on its global expansion efforts as it seeks more growth in overseas markets. With CATL’s chairman now leading the efforts, the company is making overseas growth a top priority as it outgrows China’s surging EV market.

After installing nearly 300 GWh of batteries in 2023, up 41% year-over-year, CATL was the top power battery maker.

Last year, the world’s largest EV battery maker, CATL, had a 36.8% share of the market. It was also the only manufacturer with a +30% share. Despite incoming competition, CATL’s market share grew from 36.2% in 2022.

However, as CATL outgrows China’s surging EV market, the company is looking overseas for growth.

According to local media reports (via CnEVPost), CATL is adding two new overseas plants as it looks to expand beyond its domestic market.

The news comes as CATL expects less growth in China as new, smaller suppliers enter the market. CATL’s growth in China is mainly impacted by the country’s NEV growth rate (including hybrids) and rival BYD’s growth.

Although higher NEV sales typically equate to more growth for CATL, rival BYD is quickly gaining market share, negatively impacting CATL.

CATL-fast-charging-LFP-battery
(Source: CATL)

CATL is accelerating its global expansion plans

CATL is adding two new factories to its previously announced six, according to local media firm LatePost.

The two new factories will be in addition to CATL’s plans for six overseas factories already announced: Germany, Thailand, Hungary, Indonesia, and two in the US (with Ford and Tesla).

Robin Zeng, CATL’s president, is now in charge of the company’s overseas offensive. Four co-presidents report to Zeng: Tan Libin (in charge of overseas sales), Huang Siying (overseas infrastructure), Feng Chunyan (overseas base operations), and Zeng Rong (overseas procurement).

CATL-global-expansion
CATL’s Liyang, China plant (Source: CATL)

According to the post, CATL’s next plant will be in Spain as a joint venture with Stellantis. It’s also considering a fully owned battery cathode materials facility in Morocco, which would supply its European battery plants.

CATL is also looking to fuel its global growth through licensing its technology. The company has been in talks with around 10 OEMs to license its tech.

Last month, a CarNewsChina report claimed General Motors was in talks with CATL to license its LFP battery tech.

CATL-global-expansion
(Source: CATL)

The plans reportedly included a joint North American factory to build the batteries. Although no details were offered, the report said it would likely be similar to Ford’s $3.5 billion investment to build an LFP battery plant with CATL in Michigan.

A separate report from LatePost earlier this year claimed CATL reduced the cost of its batteries to 400 yuan ($55) per kWh, compared to 600 yuan ($83) per kWh for NCM batteries.

With nearly one in three cars expected to be electric by 2030, CATL still has a lot more room for growth.

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Tesla Cybertruck deliveries halted amid problem with giant windshield wiper

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Tesla Cybertruck deliveries halted amid problem with giant windshield wiper

Tesla has reportedly halted Cybertruck deliveries amid a problem with the motor of its giant windshield wiper.

The Cybertruck is equipped with the biggest wiper put on a consumer vehicle.

It’s the result of Tesla’s design, which aimed to have a straight line from the front-end all the way to the apex of the roof – resulting in nowhere to hide wipers between the hood and the windshield.

Instead, Tesla opted to have a single giant exposed wiper with a vertical resting position for aerodynamic reasons.

In my review of the Cybertruck, I noted that we had some problems with it, like starting on its own for no reason and staying down as a resting position rather than up. However, I chalked this up as being due to Tesla’s notoriously bad auto windshield wiper system, which is common on all Tesla vehicles – not just the Cybertruck.

Now, many Cybertruck buyers are reporting that Tesla has delayed their deliveries, indicating a roughly week-long halt on deliveries, and some were told by Tesla that it had to do with the windshield wiper motor (via Cybertruck Owners Club).

Some buyers were told that Tesla would have to replace the windshield wiper motor on all Cybertruck, but this has yet to be confirmed.

No recall notice has been released yet.

Electrek’s Take

As I previously reported, we had some issues with ours last month when reviewing the Cybertruck.

I chalked it up to the terrible Tesla auto wiper, but now that I think about it, it’s possible that it wasn’t that.

Tesla’s auto wipers are known to start when they shouldn’t and don’t start when they should. The Cybertruck’s wipers were doing that, but they were also starting and stopping at the bottom rather than at the top position and just staying there.

I’m not sure if it has to do with this or if it’s completely unrelated. I expect that we will learn more in the next few days.

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E-quipment highlight: Bobcat pitches electric telehandler concept

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E-quipment highlight: Bobcat pitches electric telehandler concept

Bobcat unveiled the all-new TL25.60e electric telehandler concept at Intermat last month, with a 2.5 ton rated capacity, three electric motors, and the promise of unmatched energy efficiency and performance that’s objectively superior to diesel.

The Bobcat TL26.60e gets its energy efficient edge from its “actively cooled” li-ion batteries, which are designed to deliver consistent performance in any weather and help fleet operators maintain low running costs while maximizing efficiency and, as a consequence, savings.

Those batteries send power to three separate electric motors, one each to power drive, the rotating superstructure/cab, and the boom/attachments. Bobcat says the arrangement helps its electric telehandler concept consume energy only when it’s needed, and claims that the setup provides immediate responsiveness for all the machine’s movements. That kind of quiet, vibration-free precision control should make the TL26.60e’s operator cab a great place to work from.

Speaking of the cab, it’s the same one found in Bobcat’s larger TLS models, despite the TL26.60e’s smaller footprint. The compact nature of the the machine’s electric components means there’s room for stuff like that – and, as a consequence, more room for operators.

“At Bobcat, we are committed to innovative design that prioritizes both cutting-edge technology and operator wellbeing,” says Vijay Nerva, Innovation Lead, Bobcat EMEA. “Our integration of ergonomics and digitization, exemplified by the transparent T-OLED screen, allows us to introduce customizable, interactive features without compromising the comfort and spacious design of our cabs.”

The TL26.60e features a top speed of 25 km/h, a 6 meter lifting height, and a 2.5 ton lifting capacity. The liquid-cooled battery has a 30 kWh capacity, which should be good for a full shift at most low-speed job sites.

Electrek’s Take

Bobcat’s electric telehandler concept is still just that, but as more and more construction companies come up agains no-drip job sites, low emissions zones, tightening noise regulations, and the ESG goals of both corporate and government clients, it seems like only a matter of time before machines like this become more the rule than the exception.

SOURCES | IMAGES: Bobcat, via Heavy Equipment Guide, Canada.

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Chevy cuts Equinox EV lease prices by nearly $140 per month

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Chevy cuts Equinox EV lease prices by nearly 0 per month

If you were looking to lease Chevy’s new all-electric Equinox, it just got a lot cheaper. Chevy cut Equinox EV lease prices by nearly $140 per month. With new offers, the Chevy Equinox EV can be leased for as little as $379 per month.

After kicking off Equinox EV deliveries last month, Chevy is already introducing significant savings opportunities.

On Chevy’s website, 2024 Equinox EV lease prices start at just $379 per month. The deal is for 36 months, with $3,198 due at signing. It includes 10,000 miles a year and is based on an MSRP of $43,295. GM included $500 off for qualified lessees.

With an effective rate of $468, the 2024 Chevy Equinox EV is nearly $100 cheaper per month to lease than the Tesla Model Y.

According to online research firm CarsDirect, Tesla Model Y lease rates went up $50 this month. The Long Range model now starts at $449 with $4,143 due at signing, or $564 per month.

Meanwhile, the RS trim is significantly discounted. The Chevy Equinox RS can be leased for $429 for 36 months. With $3,109 due at signing, that amounts to $515 per month.

Chevy-Equinox-EV-lease-prices
2024 Chevy Equinox EV 3RS (Source: GM)

Chevy Equinox EV lease prices drop to just $379/mo

Previously, the RS trim had an effective cost of $651 per month ($569 for 39 months and $3,209 due at signing), meaning it’s $136 cheaper per month to lease.

Based on CarsDirect data, GM raised the 36-month residual values on the RS model to 75% from 68%, while the lease rate dropped from 7.3% to 5.5%.

Chevy Equinox EV trim

Starting Price
1LT FWD $34,995
2LT FWD $43,295
2RS FWD $44,795
3LT FWD $45,295
3RS FWD $46,795
Chevy Equinox EV prices (including $1,395 destination fee)

Chevy’s current 2LT FWD is the cheapest model hitting dealerships, starting at $43,295. The lower-priced $34,995 will be available to order later this year. All trims are eligible for the $7,500 federal tax credit.

Although this is a significant deal, Chevy Blazer EV lease prices are even more appealing. The 2024 Chevy Blazer EV is listed at $369 per month for 24 months. With $1,679 due upfront, the effective lease rate is $439 per month, only $10 more than the gas-powered model.

Chevy-Equinox-EV-lease-prices
Chevy Equinox EV 1LT interior (Source: GM)

Chevy isn’t the only one cutting EV lease prices. Honda slashed lease prices on its first electric SUV, the Prologue. The 2024 Honda Prologue now starts at $399 per month for 36 months (with $3,999 due at signing).

If you’re in the market for a new EV, you can take advantage of significant savings opportunities. Use our links below to find deals on popular models at a dealer near you.

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