Connect with us

Published

on

China’s leading EV maker, BYD, set a new monthly NEV sales record as it battles for market share in an increasingly competitive market. The growth after BYD slashed prices on some of its top-selling electric vehicles. Will it be enough to top Tesla in the second quarter?

BYD sold 341,658 new energy vehicles (NEVs) last month, its highest monthly total ever. After NEV sales surged 35% from last year, BYD surpassed its previous 341,043 NEVs sold in December 2023.

Of them, 145,179 were all-electric, up 13% from the 128,196 sold last June. However, it wasn’t enough to top the 146,395 sold in May.

BYD sold 726,153 fully electric vehicles in the first half of 2024, up 18% from the 616,810 EVs sold in the first half of 2023.

The other 195,032 vehicles sold last month were plug-in hybrids, up 58% YOY. BYD’s PHEV sales have hit a new record for the past four months now.

BYD also sold 26,995 vehicles overseas as it expands into new markets to boost growth. Meanwhile, the BYD’s biggest growth driver is being driven by fierce price cuts.

BYD-sales-record
BYD Dolphin Mini (Seagull) launch in Brazil (Source: BYD)

BYD tops monthly sales record amid China’s EV price war

BYD’s sales are picking up after starting a “liberation battle” earlier this year, targeting foreign gas-powered cars with lower prices.

BYD’s cheapest EV, the Seagull, starts at just $9,700 (69,800 yuan) in China. Overseas, it starts at around $20,000. Lower-priced versions of its top-selling Atto 3, Dolphin, and Seal EVs are also hitting the market.

BYD-sales-record
BYD SEAL (Source: BYD)

The new models are rolling out in overseas markets like Japan and South Korea as BYD looks to rival Toyota and Hyundai in their domestic markets.

BYD launched its third EV in Japan last week, the Seal EV, starting at ¥5.28 million, or around $33,100.

The Seal, BYD’s answer to the Tesla Model 3, is expected to reach South Korea by the end of the year.

BYD's-electric-sports-car
BYD Yangwang U9 electric sports car (Source: BYD)

Although BYD is best known for its affordable EVs, the auto giant is expanding into new markets like luxury, mid-size SUVs, pickups and supercars. Its new Yangwang U9 electric supercar was spotted racing around the Nurburgring last week (see the video here). Starting at $233,400 (1,680,000 yuan), the +1,200 horsepower U9 is aimed at Ferrari and Lamborghini.

BYD also launched the Sea Lion 07 in May, its first “medium-sized urban smart electric SUV.” Starting at 189,800 yuan ($26,250), BYD’s new electric SUV undercuts Tesla’s top-selling Model Y, which starts at 249,900 yuan ($34,550) in China.

BYD-sales-record
BYD Sea Lion 07, the brand’s first “mid-sized urban smart electric SUV” (Source: BYD)

Meanwhile, BYD will deal with new tariffs in Europe on Chinese imports. Although some project it could impact sales, BYD makes more on some EVs sold in the EU than in China and may be able to absorb the extra duties.

Will BYD’s price cuts and new models be enough to top Tesla again? BYD sold 426,039 EVs in the second quarter of 2024, up 42% from Q1. Wall St is projecting Tesla will sell around 450,000, and China will be key to hitting its target.

Source: CnEVPost, BYD

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

This 350 hp, 425 mile Stellantis EV really SHOULD be the new Chrysler 300

Published

on

By

This 350 hp, 425 mile Stellantis EV really SHOULD be the new Chrysler 300

After canceling the upcoming Airflow electric crossover and killing its popular 300 sedan, Chrysler only has one nameplate left in its lineup – but it doesn’t have to be this way. Stellantis already builds a full-size electric sedan that could prove to be a badge-engineered winner.

And, yes – it really should have been the new Chrysler 300. Meet the DS No. 8.

Stellantis’ US brands have had a tough go of the last few years, with Jeep trying and failing to bait luxury buyers willing to part with six-figure sums for a new Grand Wagoneer or generate excitement for the new electric Wagoneer S. The Dodge brand is doing to better with the Charger, a confusing electric muscle car that has, so far, failed to appeal to enthusiasts of any kind. Meanwhile, the lone Chrysler left standing, the Pacifica minivan, made its debut back in 2016. Nearly ten long model years ago.

All the while, Stellantis’ European brands have been forging ahead with desireable EVs – most recently launching the new DS No. 8 high-riding sedan, shown here, back in December … and I’m here to tell you that it really SHOULD have been the new Chrysler 300.

Advertisement – scroll for more content

This, but with rich Corinthian leather


With a different grille, a Chrysler badge on the steering wheel, and a few different plastichrome numbers on the back, the DS Automobiles No. 8 could easily be a new-age Chrysler 300. Heck, even the interior’s avant-garde styling and architecturally-inspired stitching could tie-in to the Art Deco-style Chrysler Building in New York, further strengthening the big No. 8’s Chrysler-brand credibility.

Spec-wise, the DS meets the bill, as well. With a 92.7 kWh battery and the standard 230 hp electric motors on board, the electric crossover is good for 750 km (466 miles) of range on the WLTP cycle. With the same battery and a 350 hp dual-motor setup that sacrifices about 40 miles of range for a more sure-footed AWD layout and a 5.4 second 0-60 time that compares nicely to the outgoing Chrysler 300 V8.

The DS offers reasonably rapid 150 kW charging, too, enabling a 10-80% charge (over 300 miles of additional driving range) in less than thirty minutes.

Why it would work


DS Automobiles No. 8; via Stellantis.

Think of all the reasons the Wagoneer S and Charger Daytona EVs have failed to reach an audience. From the confusing Wagoneer “sub-branding” to the fact that no one was really asking for either an eco-conscious muscle car or a loud EV. On the flip side of that, the 300 is something different.

Since its first iteration seventy years ago, the Chrysler 300 (called the “C-300” back in 1955) has been a forward-looking vehicle. Even the most recent versions, developed off the Mercedes-Benz W210 platform Chrysler inherited while it was part of the “merger of equals” with Mercedes-Benz, looked forward from the malaise-era K-car brand to a bright, Mercedes-infused future.

With the DS No. 8, Chrysler could do it again. It could revive its classic American nameplate on a European-designed platform that wasn’t designed to be a Chrysler, doesn’t look like a Chrysler, and shouldn’t work as a Chrysler, but somehow does. The fact that it could also be the brand’s first successful electric offering in the US would just be a bonus.

Original content from Electrek.


Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. The best part? No one will call you until after you’ve elected to move forward. Get started, hassle-free, by clicking here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Autonomous electric haul truck fleet set to revolutionize mineral mining in China

Published

on

By

Autonomous electric haul truck fleet set to revolutionize mineral mining in China

Powered by tech giant Huawei 5G-Advanced network, a fleet of over 100 Huaneng Ruichi all-electric autonomous haul trucks and heavy equipment assets have been deployed at the Yimin open-pit mine in Inner Mongolia.

With more than 100 units on site, China’s state-backed Huaneng Group officially deployed the world’s largest fleet of unmanned electric mining trucks at the Yimin coal plant in Inner Mongolia this past week. The autonomous trucks use the same Huawei Commercial Vehicle Autonomous Driving Cloud Service (CVADCS) powered by the ame 5G-Advanced (5G-A) network that powers its self-driving car efforts. Huawei says it’s the key to enabling the Yimin mine’s large-scale vehicle-cloud-network synergy.

Huawei is calling the achievement a “world’s first,” saying the new system has improved operator safety at Yimin while setting new benchmarks for AI and autonomous mining.

The autonomous mine project aligns with a broader push by Chinese government and industry to integrate AI and advanced connectivity into traditional industries – an approach we’ve already seen meet with great success in port environments by Hesai and Westwell.

Advertisement – scroll for more content

And, if technology like Rocsys’ charging robots take off, these autonomous haul trucks won’t even need anyone to plug them in at the end of their shifts!

For their part, Huaneng Ruichi claims its cabin-less electric offer an industry-leading 90 metric ton rating (that’s about 100 imperial tons) and the ability operate continually in extreme cold temperatures as low as -40° (it’s the same, C or F), while delivering 20% more operational efficiency than a human-driven truck.

The Huawei-issued press release is a bit light on truck specs, but similar 90 tonne electric units claim 350 or 422 kWh LFP battery packs and up to 565 hp from their electric drive motors and some 2,300 Nm (1,700 lb-ft) of tq from 0 rpm.

Huawei executives said the Ruichi trucks reflect the company’s vision for smarter mining operations, with the potential to introduce similar technologies in markets like Africa and Latin America. The 100 asset electric fleet marks the first phase of a plan to deploy 300 autonomous trucks at the Yimin mine by 2028.

Electrek’s Take


Chinese autonomous electric mining trucks get to work in Mongolia
Electric haul trucks; via Huawei.

From drilling and rigging to heavy haul solutions, companies like Huaneng Group are proving that electric equipment is more than up to the task of moving dirt and pulling stuff out of the ground. At the same time, rising demand for nickel, lithium, and phosphates combined with the natural benefits of electrification are driving the adoption of electric mining machines while a persistent operator shortage is boosting demand for autonomous tech in those machines.

The combined factors listed above are rapidly accelerating the rate at which machines that are already in service are becoming obsolete – and, while some companies are exploring the cost/benefit of converting existing vehicles to electric, the general consensus seems to be that more companies will be be buying more new equipment more often in the years ahead – and more of that equipment will be more and more likely to be autonomous as time goes on.

SOURCES | IMAGES: Huawei, South China Morning Post, and Supply Chain Digital.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Tesla starts accepting Cybertruck trade-ins, confirms insane depreciation

Published

on

By

Tesla starts accepting Cybertruck trade-ins, confirms insane depreciation

Tesla has started accepting Cybertruck trade-ins, something that wasn’t the case more than a year after deliveries of the electric pickup truck started.

We are starting to see why Tesla didn’t accept its own vehicle as a trade-in: the depreciation is insane.

The Cybertruck has been a commercial flop.

When Tesla started production and deliveries in late 2023, the vehicle was significantly more expensive and had less performance than initially announced.

Advertisement – scroll for more content

At one point, Tesla boasted having over 1 million reservations for the electric pickup truck, but only about 40,000 people ended up converting their reservations into orders.

Now, Cybertruck inventory is sitting unsold for months and Tesla is having to offer heavy discounts to move them.

We previously reported that Tesla refused to accept the Cybertruck, its own vehicle, as a trade-in more than a year after starting deliveries.

Tesla didn’t share an explanation at the time, but we assumed that the automaker knew the Cybertruck was depreciating at an incredible rate and didn’t want to be stuck with more trucks than it was already dealing with.

Now, Tesla has started taking Cybertruck trade-ins, at least for the Foundation Series, and it is now providing estimates to Cybertruck owners (via Cybertruck Owners Club):

Tesla sold a brand-new 2024 Cybertruck AWD Foundation Series for $100,000. Now, with only 6,000 miles on the odometer, Tesla is offering $65,400 for it – 34.6% depreciation in just a year.

Pickup trucks generally lose about 20% of their value after a year and 34% after about 3-4 years.

It’s also wroth nothing that Tesla’s online “trade-in estimates” are often higher than the final offer as noted in the footnote o fhte screenshot above.

Electrek’s Take

This is already extremely high depreciation, but Tesla is actually trying to save face with estimates like this one.

As Tesla wouldn’t even accept Cybertruck trade-ins, used car dealers also slowed down their purchases as they also didn’t want to be caught with the trucks sitting on their lots for too long.

On Car Guru, the Cybertruck’s depreciation is actually closer to 45% after a year and that’s more representative of the offers owners should expect from dealers.

That’s entirely Tesla’s fault. The company created no scarcity with the Foundation Series. They built as many as people wanted. In fact, they built too many and ended having to “buff out” the Foundation Series badges on some units to sell them as regular Cybertrucks and as of last month, Tesla still had some Cybertruck Foundations Series in inventory – meaning they have been sitting around for up to 6 months.

Now, Tesla is stuck with thousands of Cybertrucks, early owners are already getting rid of their vehicles at an impressive rate, and the automaker had to slow production to a crawl.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending