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NIO has shared its unaudited Q2 financial results for 2024, which detailed record-high EV deliveries that helped the automaker snag an even larger portion of the overall market in China. NIO also surpassed the expectations of financial gurus on Wall Street with its quarterly earnings.

Time and again, NIO ($NIO) continues to demonstrate why it is one of the significant BEV players in China and the overall global market. The automaker currently sells nine all-electric models in China, many of which have already entered or are entering new markets worldwide, including Europe (despite newly enacted import tariffs) and, soon, the United Arab Emirates.

Additionally, NIO is the worldwide leader in battery swap implementation, eclipsing 50 million total swaps last month while providing hard evidence that the charging alternative is not only viable but also preferred by many EV drivers.

Not to mention the advancement of nascent EV technologies like solid-state batteries and its own line of branded smartphones. NIO is showing no signs of slowing down, and its recent delivery numbers support that notion. The Chinese automaker achieved record delivery numbers this past May, June, and July, hitting the 20,000 mark for three consecutive months.

Now, NIO’s full Q2 2024 report is in and those monthly tallies have contributed to more records as well as continued earnings growth.

  • NIO Q2
  • NIO Q2

NIO’s Q2 financials detail continued growth

NIO’s Investor Relations page posted the automaker’s unaudited Q2 2024 numbers today, which are encouraging. The company 20,498 and 20,176 BEVs in July and August 2024, respectively, and as of August 31, 2024, its cumulative deliveries for Q2 sat at 577,694.

That total number breaks down to 32,562 premium smart electric SUVs and 24,811 premium smart electric sedan deliveries, which combine to represent an increase of 143.9% from Q2 2023, and an increase of 90.9% from Q1 2024. In total, NIO’s Q2 BEV deliveries represent yet another record. NIO founder, chairman, and CEO William Li, spoke to the automaker’s latest milestone:

In the second quarter of 2024, NIO achieved a record-breaking delivery of 57,373 premium smart electric vehicles, securing over 40% of the market share in the battery electric vehicle segment priced above RMB 300,000 in China. NIO’s core competitive advantages in technology, product, service and community are earning increasing recognition from users, driving the continued strong vehicle sales performance. In July and August 2024, NIO delivered 20,498 and 20,176 vehicles, respectively. The total delivery volume for the third quarter is expected to set another record, further solidifying and expanding market share.

On the earnings side, NIO posted revenues of RMB 17.446 billion ($2.4 billion) in Q2 2024, performing slightly better than the RMB 17.385 billion predicted by financial analysts in a Bloomberg survey.

Vehicle sales totaled RMB 15,68 billion ($2.16 billion) in Q2 2024, representing an increase of 118.2% year-over-year and an increase of 87.1% from Q1 2024. Per NIO:

Loss from operations was RMB 5,209.3 million (US $716.8 million) in the second quarter of 2024, representing a decrease of 14.2% from the second quarter of 2023 and a decrease of 3.4% from the first quarter of 2024. Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP) was RMB4,698.5 million (US$646.5 million) in the second quarter of 2024, representing a decrease of 14.0% from the second quarter of 2023 and a decrease of 8.1% from the first quarter of 2024.

Looking ahead to Q3, NIO expects to BEV deliveries to land between 61,000 and 63,000 units, representing an increase of approximately 10.0% to 13.7% compared to Q3 2023. Total revenues are expected to arrive between RMB 19.12 billion ($2.63 billion) and RMB 19.67 billion ($2.71 billion), representing an increase of approximately 0.2% to 3.2% YOY.

Encouraging numbers from an exciting Chinese automaker make its impact on the BEV segment and its adjacent technologies. As always, we will keep you in the loop on the latest NIO news going forward.

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This vast 1.3 GW Indiana solar farm will power 200,000 homes

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This vast 1.3 GW Indiana solar farm will power 200,000 homes

Mammoth Solar, a 1.3 gigawatt (GW) solar farm in northern Indiana, is now powering into its biggest construction phase yet, cementing its place as one of the largest solar projects in the US.

The solar farm is set to increase Indiana’s solar capacity by more than 20% once it’s fully online. And with construction ramping up this month, developer Doral Renewables has given Bechtel Full Notice to Proceed on the design, engineering, and construction of three major phases of the project: Mammoth South, Mammoth Central I, and Mammoth Central II. Together, these phases will generate 900 MW of clean energy.

That’s enough electricity to power around 200,000 homes with clean energy, helping Indiana shift away from fossil fuels while boosting the local economy.

Construction is already underway, and over the next two years, Bechtel will install around 2 million solar panels, with about half of them made in the US. The company is also handling all engineering, procurement, and construction work, using its digital project management tools and autonomous tech to keep everything on track.

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At the peak of the buildout, Mammoth Solar is expected to create over 1,200 jobs, with at least 15% of those set aside for apprenticeships.

Bechtel says its success will hinge on strong collaboration with local trades and vendors. The company is working closely with craft professionals and is committed to being a reliable community partner throughout construction.

Once the solar farm is complete in 2027, Doral Renewables plans to roll out agrivoltaics across the site. That means livestock grazing and crop cultivation will happen right alongside energy production, giving farmers in the area a way to keep working their land while supporting clean energy development.

Read more: Solar adds more new capacity to the US grid in 2024 than any energy source in 20 years


If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. 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. They have 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 Advisers to help you every step of the way. Get started here. –trusted affiliate link*

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BYD’s funky new kei car spotted testing: Here’s our first look at the mini EV

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BYD's funky new kei car spotted testing: Here's our first look at the mini EV

BYD is about to launch an even smaller EV, but this one’s a little different. It’s BYD’s first kei car. You know, those tiny vehicles that dominate Japan’s city streets? BYD’s mini EV was just spotted out in public, giving us our first real look at the upcoming kei car.

BYD’s first mini EV was spotted in public

Last week, rumors surfaced that BYD was developing its first kei car, which would compete with top-selling models from Nissan, Honda, Mitsubishi, and other Japanese brands.

Kei cars, or “K-Car,” as they are sometimes called, are a class of ultra-compact vehicles that cannot be longer than 3.4 meters (134″). To put that into perspective, BYD’s smallest EV currently, the Seagull (called the Dolphin Mini overseas), is 3,780 mm (148.8″) long.

The mini vehicles are ideal in Japan because they are so small, making it easy to get around tight city streets. They are also more affordable and efficient than larger vehicles.

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BYD’s mini EV was spotted for the first time during a road test this week by IT Home (via CarNewsChina), revealing a familiar look. It has that boxy, compact look of a typical kei car with sliding side doors.

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BYD’s kei car, or mini EV, in camouflage (Source: Sina/ IT Home)

According to reports, BYD is developing a new platform for the model. It will reportedly include a 20 kWh battery, good for 180 km (112 miles) WLTC range. By using its in-house Blade LFP batteries, BYD is expected to have a cost advantage.

BYD’s upcoming mini EV is expected to start at around 2.5 million yen, or about $18,000. That’s about the same as the Nissan Sakura (2.59 million yen), Japan’s best-selling EV last year.

Last year, around 1.55 million kei cars were sold in Japan, accounting for roughly 40% of new vehicle sales. Honda’s N-Box was the top-selling kei car (EV or gas) for the third straight year.

As Nikkei reported, some are already calling BYD’s electric kei car “a huge threat.” A Suzuki dealer said, “Young people do not have a negative view of BYD. It would be a huge threat if the company launches cheap models in Japan.”

Nissan-affordable-EVs
Nissan Sakura mini EV (Source: Nissan)

BYD already sells several electric cars in Japan, including the Atto 3 SUV, Dolphin, and Seal. Last month, the company launched the new Sealion 7 midsize electric SUV, starting at 4.95 million yen ($34,500).

Although Japan isn’t really an EV hot spot, with sales falling 33% in 2024 to just under 60,000 units, BYD sees an opportunity.

BYD-mini-EV
BYD Dolphin Mini (Seagull) testing in Brazil (Source: BYD)

By making virtually every car component in-house, including batteries, BYD can offer EVs at such low prices while still making a profit. BYD’s cheapest and best-selling electric car, the Seagull, starts at under $10,000 (69,800 yuan) in China.

With new smart driving and charging tech rolling out, BYD’s electric cars are getting smarter and even more efficient.

Can BYD’s mini EV compete with Japanese brands? At the right price, it may have a chance. Check back soon for more on the upcoming kei car. We’ll keep you up to date with the latest.

Source: Sina, CarNewsChina

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Ford F-150 Lightning retakes America’s best-selling electric pickup crown

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Ford F-150 Lightning retakes America's best-selling electric pickup crown

Ford’s electric pickup truck is back at the top. The F-150 Lightning is once again the best-selling electric pickup in the US after overtaking the Tesla Cybertruck in the first quarter.

Ford’s F-150 Lightning is the best-selling electric pickup

After launching in 2023, Tesla’s Cybertruck quickly outpaced the Lightning to become America’s top-selling EV pickup last year.

Since Tesla doesn’t break down regional sales, registration data gives us our best estimate. The latest registration data from S&P Global Mobility (via Automotive News) shows that the F-150 Lightning retook the title in March and the first quarter of 2025.

Ford’s electric pickup notched 2,598 registrations in March, topping the Tesla Cybertruck with 2,170. In the first quarter, the F-150 Lightning remained ahead with 7,913 registrations, compared to the Cybertruck’s 7,126.

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Although the Cybertruck was the fifth top-selling EV in the US last year, it didn’t even crack the top ten in March. It placed ninth through the first three months of 2025, behind the Volkswagen ID.4.

Ford-F-150-Lightning-best-selling-electric-pickup
2025 Ford F-150 Lightning (Source: Ford)

While Tesla and Ford remained the leaders in the electric pickup market, several new models are gaining momentum. According to the most recent numbers from Cox Automotive, GM sold 2,383 Chevy Silverado EVs and 1,249 GMC Sierra EV models in Q1. Meanwhile, Rivian sold 1,727 R1Ts during the quarter.

Earlier today, Electrek reported that new models, including the Honda Prologue and Chevy Blazer EV, helped drive EV registrations up 20% in the US in March.

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2026 GMC Sierra EV AT4 (left) and Elevation (right) trims (Source: GMC)

Although the Lightning reclaimed the crown from Tesla, Ford’s electric pickup isn’t exactly flying off the lot. Ford reported Lightning sales fell 16% to just 1,740 units in April. Through April 2025, Ford has sold 8,927 electric trucks, down 9% from the 9,833 it handed over last year.

Electrek’s Take

To be fair, Tesla is still ahead by a wide margin in the US. The S&P numbers show Tesla had over 51,000 registrations in March, up 1% after two months of lower YOY growth.

GM’s Chevy surpassed Ford to become the second-best-selling EV brand with nearly 8,500 registrations, an increase of 274% from last year. Ford dropped to third with 7,361 registrations.

Although it’s just one quarter, it’s starting to show how Tesla CEO Elon Musk’s political antics are likely impacting sales. After the Cybertruck’s initial hype, it appears many buyers are opting for traditional pickups, like the F-150 Lighting.

Meanwhile, Ram is delaying its first electric pickup, the 1500 REV, again. Ram is pushing production back until summer 2027, saying it’s “extending the quality validation period.” The plug-in hybrid (PHEV) Ramcharger will also be delayed until the first quarter of 2026.

After pulling the Ramcharger ahead of the fully electric version last year, Stellantis blamed weak demand for EV pickups in the US.

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