China’s leading EV maker, BYD, sold more vehicles than Honda and Nissan for the first time in the second quarter. BYD is now the world’s seventh-largest automaker. With low-cost EVs hitting key global markets, BYD is quickly catching up to Ford.
Affordable EVs driving demand
According to MarkLines (via Nikkei), BYD’s new vehicle sales climbed 40% between April and June to 980,000. The growth was enough to overtake Japan’s Honda and Nissan for the first time to become the seventh-largest automaker globally.
A big part of BYD’s surging sales numbers is its incredibly affordable electric cars. BYD continues slashing prices while releasing lower-cost EV models.
Its cheapest EV, the Seagull, starts at just $9,700 (69,800 yuan) in China. Meanwhile, much of BYD’s success this year is thanks to growing overseas sales.
BYD sold 105,000 vehicles outside of China, roughly tripling from last year. After launching in key markets like Mexico, Brazil, Japan, Europe, Thailand, and other Southeast Asian countries, BYD is already a leading EV brand.
Although global auto leaders like Volkswagen and Toyota’s sales numbers fell in Q2, BYD continued to see more demand.
Toyota is the only Japanese automaker that sold more vehicles than BYD in Q2, a stark contrast from past years.
BYD Atto 3 (left) and Dolphin (right) EVs in Japan (Source: BYD)
Will BYD top Ford in vehicle sales?
BYD’s growing global presence is symbolic of the auto industry’s shift to electric. Although China is leading the transition, many countries are setting aggressive EV goals as they look toward a cleaner, more sustainable future.
While BYD’s sales jumped 35% in China in June, Honda and many foreign rivals had double-digit sales declines. And it’s not only in China. Honda plans to halve capacity in Thailand, where BYD is already emerging as a market leader.
BYD store in Thailand (Source: BYD)
BYD is also planning to open several overseas plants as it expands its global manufacturing footprint.
It opened its first in Thailand last month, with Hungary, Brazil, Turkey, Mexico, and Pakistan plants in the works.
After topping Honda and Nissan in Q2, BYD is quickly closing in on other legacy automakers, including Ford and America’s “Big Three.”
BYD Shark PHEV pickup (Source: BYD)
Ford’s wholesales reached 1.14 million in the second quarter, a slight increase from the 1.12 million in Q2 2023.
The American automaker announced several new EV delays this week, including pushing back its next-gen electric pickup until the second half of 2027, two years later than expected.
Ford Explorer Electric (Source: Ford)
Ford also canceled plans for its three-row electric SUV to focus on hybrids, opening the door for rivals like Kia and Volvo to take over the segment. The company said it will give a more complete update on its EV strategy next year.
Meanwhile, BYD plans to expand into Ford’s territory by selling vehicles in Canada. It’s also closing in on a plant in Mexico that will produce 150,000 vehicles in its first stage.
BYD’s wide-reaching portfolio (Source: BYD)
Eventually, the plant will produce 400,000 to 500,000 cars, BYD’s Mexico boss told Reuters this week.
Electrek’s Take
After Japanese automakers like Honda and Nissan were some of the slowest to shift to electric, they are now feeling the heat in several key markets.
Despite many headlines promoting an “EV slowdown,” sales are still climbing while gas-powered vehicles fall out of favor.
Automakers that have failed to keep up with the transition are losing market share, while EV leaders like BYD and Tesla have emerged as leading global auto brands.
BYD is now the seventh-largest automaker globally, up from tenth last year. Can it overtake Ford?
Ford has already announced it’s shifting to smaller, more affordable EVs as it looks to overcome massive losses. The American automaker lost $2.5 billion on its electric vehicles through the first half of 2024 after losing $4.7 billion in 2023.
Meanwhile, a recent study from Rhodium Group found that BYD earns over $15,000 (14,300 euros) on every Seal U model sold in the EU.
Ford’s CEO Jim Farley has praised BYD’s low-cost EVs, calling the Seagull “pretty damn good.” Will it be able to match BYD? Or will Ford have the same fate as Honda and Nissan?
Although BYD is best known for its low-cost EVs, it’s quickly expanding its lineup with new pickup trucks, luxury vehicles, and electric supercars hitting the market. BYD launched the Shark PHEV pickup this summer in Mexico, which will rival Ford’s Ranger and the Toyota Hilux.
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In a bold bid to combat the crippling air pollution crisis in its capital, Delhi, Indian lawmakers have begun high-level discussions about a plan to phase out gas and diesel combustion vehicles by 2035 – a move that could cause a seismic shift in the global EV space and provide a cleaner, greener future for India’s capital.
Long considered one of the world’s most polluted capital cities, Indian capital Delhi is taking drastic steps to cut back pollution with a gas and diesel engine ban coming soon – but they want results faster than that. As such, Delhi is starting with a city-wide ban on refueling vehicles more than 15 years old, and it went into effect earlier this week. (!)
“We are installing gadgets at petrol pumps which will identify vehicles older than 15 years, and no fuel will be provided to them,” said Delhi Environment Minister Manjinder Singh Sirsa … but they’re not stopping there. “Additionally, we will intensify scrutiny of heavy vehicles entering Delhi to ensure they meet prescribed environmental standards before being allowed entry.”
The Economic Times is reporting that discussions are underway to pass laws requiring that all future bus purchases will be required to be electric or “clean fuel” (read: CNG or hydrogen) by the end of this year, with a gas/diesel ban on “three-wheelers and light goods vehicles,” (commercial tuk-tuks and delivery mopeds) potentially coming 2026 to 2027 and a similar ban privately owned and operated cars and bikes coming “between 2030 and 2035.”
Electrek’s Take
Xpeng EV with Turing AI and Bulletproof battery; via XPeng.
Last week, Parker Hannifin launched what they’re calling the industry’s first certified Mobile Electrification Technology Center to train mobile equipment technicians make the transition from conventional diesel engines to modern electric motors.
The electrification of mobile equipment is opening new doors for construction and engineering companies working in indoor, environmentally sensitive, or noise-regulated urban environments – but it also poses a new set of challenges that, while they mirror some of the challenges internal combustion faced a century ago, aren’t yet fully solved. These go beyond just getting energy to the equipment assets’ batteries, and include the integration of hydraulic implements, electronic controls, and the myriad of upfit accessories that have been developed over the last five decades to operate on 12V power.
At the same time, manufacturers and dealers have to ensure the safety of their technicians, which includes providing comprehensive training on the intricacies of high-voltage electric vehicle repair and maintenance – and that’s where Parker’s new mobile equipment training program comes in, helping to accelerate the shift to EVs.
“We are excited to partner with these outstanding distributors at a higher level. Their commitment to designing innovative mobile electrification systems aligns perfectly with our vision to empower machine manufacturers in reducing their environmental footprint while enhancing operational efficiency,” explains Mark Schoessler, VP of sales for Parker’s Motion Systems Group. “Their expertise in designing mobile electrification systems and their capability to deliver integrated solutions will help to maximize the impact of Parker’s expanding METC network.”
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The manufacturing equipment experts at Nott Company were among the first to go through the Parker Hannifin training program, certifying their technicians on Parker’s electric motors, drives, coolers, controllers and control systems.
“We are proud to be recognized for our unwavering dedication to advancing mobile electrification technologies and delivering cutting-edge solutions,” says Nott CEO, Markus Rauchhaus. “This milestone would not have been possible without our incredible partners, customers and the team at Nott Company.”
In addition to Nott, two other North American distributors (Depatie Fluid Power in Portage, Michigan, and Hydradyne in Fort Worth, Texas) have completed the Parker certification.
Electrek’s Take
T7X all-electric track loader at CES 2022; via Doosan Bobcat.
With the rise of electric equipment assets like Bobcat’s T7X compact track loader and E10e electric excavator that eliminate traditional hydraulics and rely on high-voltage battery systems, specialized electrical systems training is becoming increasingly important. Seasoned, steady hands with decades of diesel and hydraulic systems experience are obsolete, and they’ll need to learn new skills to stay relevant.
Certification programs like Parker’s are working to bridge that skills gap, equipping technicians with the skills to maximize performance while mitigating risks associated with high-voltage systems. Here’s hoping more of these start popping up sooner than later.
Based on a Peterbilt 579 commercial semi truck, the ReVolt EREV hybrid electric semi truck promises 40% better fuel economy and more than twice the torque of a conventional, diesel-powered semi. The concept has promise – and now, it has customers.
Austin, Texas-based ReVolt Motors scored its first win with specialist carrier Page Trucking, who’s rolling the dice on five of the Peterbilt 579-based hybrid big rigs — with another order for 15 more of the modified Petes waiting in the wings if the initial five work out.
The deal will see ReVolt’s “dual-power system” put to the test in real-world conditions, pairing its e-axles’ battery-electric torque with up to 1,200 miles of diesel-extended range.
ReVolt Motors team
ReVolt Motors team; via ReVolt.
The ReVolt team starts off with a Peterbilt, then removes the transmission and drive axle, replacing them with a large genhead and batteries. As the big Pete’s diesel engine runs (that’s right, kids – the engine stays in place), it creates electrical energy that’s stored in the trucks’ batteries. Those electrons then flow to the truck’s 670 hp e-axles, putting down a massive, 3500 lb-ft of Earth-moving torque to the ground at 0 rpm.
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The result is an electrically-driven semi truck that works like a big BMW i3 or other EREV, and packs enough battery capacity to operate as a ZEV (sorry, ZET) in ports and urban clean zones. And, more importantly, allows over-the-road drivers to hotel for up to 34 hours without idling the engine or requiring a grid connection.
That ability to “hotel” in the cab is incredibly important, especially as the national shortage of semi truck parking continues to worsen and the number of goods shipped across America’s roads continues to increase.
And, because the ReVolt trucks can hotel without the noise and emissions of diesel or the loss of range of pure electric, they can immediately “plug in” to existing long-haul routes without the need to wait for a commercial truck charging infrastructure to materialize.
“Drivers should not have to choose between losing their longtime routes because of changing regulatory environments or losing the truck in which they have already made significant investments,” explains Gus Gardner, ReVolt founder and CEO. “American truckers want their trucks to reflect their identity, and our retrofit technology allows them to continue driving the trucks they love while still making a living.”
If all of that sounds familiar, it’s probably because you’ve heard of Hyliion.
In addition to being located in the same town and employing the same idea in the same Peterbilt 579 tractor, ReVolt even employs some of the same key players as Hyliion: both the company’s CTO, Chandra Patil, and its Director of Engineering, Blake Witchie, previously worked at Hyliion’s truck works.
Still, Hyliion made their choice when they shut down their truck business. ReVolt seems to have picked up the ball – and their first customer is eager to run with it.
“Our industry is undergoing a major transition, and fleet owners need practical solutions that make financial sense while reducing our environmental impact,” said Dan Titus, CEO of Page Trucking. “ReVolt’s hybrid drivetrain lowers our fuel costs, providing our drivers with a powerful and efficient truck, all without the need for expensive charging infrastructure or worrying about state compliance mandates. The reduced emissions also enable our customers to reduce their Scope 2 emissions.”
Page Trucking has a fleet of approximately 500 trucks in service, serving the agriculture, hazardous materials, and bulk commodities industries throughout Texas. And, if ReVolt’s EREV semis live up to their promise, expect them to operate a lot more than 20 of ’em.