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China’s BYD just topped another major milestone. The EV giant produced its ten millionth new energy vehicle (NEV) this week, becoming the first automaker to accomplish the feat. BYD’s accomplishment comes just three years after its one-millionth NEV rolled off the assembly line. After its fifth straight record sales month, BYD is now closing in on top global automakers like Ford.

BYD continued its dominant run after selling over 500,000 vehicles for the first time in a single month in October.

October was BYD’s fifth straight record-breaking month for NEV sales, including plug-in hybrid (PHEV) and battery electric (EV) models. Through the first ten months of 2024, BYD has sold over 3.25 million NEVs, up 36% from last year. Nearly 1.36 million of them were all-electric.

Amid a wave of new competition and an intensifying EV price war in China, BYD is setting up shop in key overseas markets to drive growth.

The company opened its first manufacturing plant in Thailand, a booming EV market. New facilities are coming online soon in Hungary, Brazil, Pakistan, Turkey, and Mexico.

As BYD continues expanding into new markets, China’s EV giant is quickly catching up to global auto leaders. After topping Nissan and Honda for the first time in Q3, BYD is now on pace to surpass Ford in global deliveries soon.

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BYD’s 10 millionth NEV rolls off the production line (Source: BYD)

BYD tops 10 million NEV production milestone

BYD announced on social media Monday that it became the “world’s first automaker to achieve the rollout of the 10 millionth new energy vehicle.”

The milestone comes ahead of BYD’s 30th anniversary. BYD was founded in 1995 with around 20 employees. Now, it’s one of the largest in the world, with over 900,000 employees.

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BYD Dolphin (left) and Atto 3 (right) Source: BYD

BYD launched its first mass-production car, the F3, in 2005. With around 100,000 sales in just over a year, the F3 helped propel BYD to become the global auto leader it is today. According to the company’s president, Wang Chuanfu (via CnEVPost), the early success gave BYD confidence in the auto market.

Another big reason behind BYD’s success is its early beginnings as a battery maker. By 1998, BYD was already the second-largest rechargeable battery producer.

In 2000, the company scored major deals with Motorola and Nokia, securing its role in the battery market.

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BYD Dolphin Mini (Seagull) launch in Brazil (Source: BYD)

BYD built its first NEV, the F3DM, equipped with its first-gen DM hyrid tech, in 2008. Wang claims it was the “world’s first” plug-in hybrid to hit the streets.

Sales are surging

Just four years ago, BYD sold less than 30,000 vehicles a month. Now, that number is over 500,000. It launched its fifth-gen DM hybrid tech earlier this year, which significantly improved fuel consumption and performance.

In May 2021, BYD produced its one million NEV. Today, it crossed the 10 million mark, a massive milestone as the company looks to secure its spot as a global auto leader.

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BYD Atto 3 production (Source: BYD)

BYD’s growth accelerated after it stopped making vehicles with an internal combustion engine in March 2022. Now, it focuses on PHEV and EV models.

Last year, BYD introduced the Qin Plus Champion Edition (PHEV model), priced below 100,000 yuan ($13,900) for the first time. BYD said that at the same price as gas-powered cars, the new model was “directly destroying the moat of joint venture vehicles.”

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BYD’s wide-reaching portfolio (Source: BYD)

Although best known for its ultra-affordable EVs, like its top-selling Seagull, which starts at under $10,000 (69,800 yuan), BYD is rapidly expanding its lineup with new luxury models, smart midsize SUVs, and electric supercars hitting the market.

The milestone comes as BYD closes in on Ford in global deliveries. The company already outsold Ford by about 40,000 vehicles in the third quarter.

As sales climb, BYD is ramping up production and expanding its workforce. BYD’s executive vice president, He Zhiqi (via Reuters), said the company hired nearly 200,000 new employees between August and October. It also ramped up production by about 200,000 units to meet the demand.

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Trump halts wind projects, including Coastal Virginia Offshore Wind, Dominion stock drops 5%

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Trump halts wind projects, including Coastal Virginia Offshore Wind, Dominion stock drops 5%

Dominion Energy’s wind turbines located 27 miles off of Virginia Beach in the Atlantic Ocean on July 17, 2023.

Kendall Warner | Virginian Pilot | Getty Images

The Trump administration on Monday halted Coastal Virginia Offshore Wind, the largest project of its kind in the U.S., as well as four other projects off the East Coast in a devastating blow to the wind industry.

Shares of Dominion Energy, the utility developing the project, dropped more than 5% on the news.

The administration also paused leases for Vineyard Wind 1 off Massachusetts, Revolution Wind off Rhode Island, Sunrise Wind off Long Island and New England, and Empire Wind 1 south of Long Island.

Interior Secretary Doug Burgum said the administration paused leases for the projects due to national security concerns identified by the Pentagon.

Shares of Denmark’s Orsted, the developer of the Revolution and Sunrise projects, tumbled 11%. Norway’s Equinor, the developer of Empire Wind 1, was down less than 1%.

Coastal Virginia Offshore Wind is a 176 turbine project project that would provide enough power for more than 600,000 homes, according to Dominion. The project was expected to be complete next year.

Dominion said the massive project is essential for U.S. national security and Virginia’s dramatically growing energy needs. Northern Virginia is the largest hub for data centers in the world. Growing demand from artificial intelligence is contributing to higher electricity prices in the state.

“Stopping CVOW for any length of time will threaten grid reliability for some of the nation’s most important war fighting, AI, and civilian assets,” Dominion said in a statement.

“It will also lead to energy inflation and threaten thousands of jobs,” the utility said.

Virginia Gov. Glenn Youngkin, a Republican, supports the project. Incoming Gov. Abigail Spanberger, a Democrat, won the gubernatorial election in November on a promise to address rising electricity costs in part by expanding renewable energy.

The Interior Department said in a statement that the pause will give the federal government time to “work with leaseholders and state partners to assess the possibility of mitigating the national security risks posed by these projects.”

Interior said the U.S. government found that turbine blades and “highly reflective towers” create radar interference risk.

“The clutter caused by offshore wind projects obscures legitimate moving targets and generates false targets in the vicinity of the wind projects,” Interior said.

President Donald Trump has targeted the U.S. wind industry since his first day in office. Trump on Jan. 20 ordered a halt to all new leases and permits for onshore and offshore wind pending federal review.

Sen. Chuck Schumer, D-N.Y., condemned Trump’s campaign against wind projects as “irrational.” The senate minority leader said Interior’s decision would spike energy bills.

“Trump’s obsession with killing offshore wind projects is unhinged, irrational, and unjustified,” Schumer said in a statement Monday. “At a time of soaring energy costs, this latest decision from DOI is a backwards step that will drive energy bills even higher.” 

Trump’s campaign against the wind industry has run afoul of the courts. Judge Patti Saris of the U.S. District Court for the District of Massachusetts ruled on Dec. 8 that Trump’s order was “arbitrary and capricious and contrary to law.”

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E-quipment highlight: Komatsu PC365-11 hybrid excavator

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E-quipment highlight: Komatsu PC365-11 hybrid excavator

Thanks to a clever, fully electric swing system and “boom up” power assist features, the big PC365-11 hybrid excavator from Komatsu promises better performance and serious fuel savings compared to conventional diesel machines.

Komatsu says its PC365-11 hybrid excavator uses a “boom-up” power assist feature that captures and stores kinetic energy during different operation cycles, then taps into that power to provide an extra energy boost when needed. The result is 15% more productivity and a 20% improvement in fuel efficiency when compared to non-hybrid excavators in ~40 ton class.

“The PC365LC-11 was engineered for excellence in multifunction applications by leveraging its innovative electric powertrain system to boost job site productivity while reducing fuel consumption,” says Matthew Moen, Komatsu’s product manager. “To highlight these performance enhancements, we’re emphasizing the concept of ‘multifunction plus’ as the defining feature of this machine.”

How it works


Komatsu hybrid explainer; via Komatsu.

Komatsu’s hybrid system replaces the conventional hydraulic swing function with a fully electric swing motor that draws power from an ultracapacitor (as opposed to a battery) energy storage unit. As excavator slows or stops swinging, something like a regenerative braking system captures the kinetic energy that would normally be lost as heat and stores it in the capacitor. Once there, the stored energy can be quickly released to power the swing motor or assist the engine, delivering up to an extra 70 hp when needed to support heavy lifting or digging cycles.

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And, thanks to Komatsu’s proprietary software, all of this energy capture and reuse happens automagically during normal work, without the need for external charging. The fuel savings happen because removing the hydraulic load from the ICE engine allows it to run at an ultra-low idle, while the productivity comes from the greater power and overall speed of the electric operations vs. conventional hydraulics.

Electrek’s Take


Komatsu lunar excavator; image by the author.

Trust me when I tell you that Komatsu didn’t wake up one day and decide to build a capacitor-based hybrid crane. One of their customers had the idea and came to them, promising orders. That’s what Komatsu does – from undersea remote control dozers to lunar mining rigs (above), if you bring Komatsu an order, they will absolutely find a way to fill it.

As for PC365-11 hybrid excavator, it’s packed with clever tech, overall – offering significant fuel, emissions, and TCO reductions without dramatically changing the operational logistics of an existing fleet’s operations. That’s all the sales pitch it needs.

SOURCE: Komatsu, via Equipment World.


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Five for Five: Kia PV5 scores 5 star European safety rating

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Five for Five: Kia PV5 scores 5 star European safety rating

For serious fleet buyers, safety isn’t a “nice-to-have,” it’s an absolute must – and Kia’s new PV5 electric van meets that need with a positively stellar, five-star safety rating on the tough European NCAP safety test.

The new “do-it-all” Kia PV5 showed strong performance across a number of key safety categories, including Occupant Protection, Safety Assist/Crash Avoidance, and Post-Crash Safety. The PV5’s robust suite of standard ADAS technologies that includes AEB, Lane Support System, and Speed Assistance System also helped the new electric work van to deliver top marks in the NCAP’s “real world” test scenarios.

The PV5 opens a new chapter in practical, electrified mobility, offering generous space and modular versatility for everyday use,” explains Sangdae Kim, Executive Vice President and Head of the (relatively) new PBV Business Division at Kia. “Achieving the top Euro NCAP five-star rating is clear validation of its safety performance and will serve as strong momentum as Kia expands its PBV lineup across Europe.”

The Euro NCAP tests highlighted the strong performance of a number of the PV5’s ADAS features, specifically calling out the following:

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  • Demonstrated strong responsiveness in vehicle-to-vehicle scenarios
  • Provides additional protection for pedestrians behind the vehicle
  • Avoided collisions in most pedestrian and cyclist test cases

The Kia PV5 slots into familiar territory for US buyers, landing roughly in the same size class as the Ford Transit Connect or Ram ProMaster City, with ~180 cubic feet of interior cargo space available, which is plenty to make it attractive for last-mile delivery and trade work in tight urban markets.

Globally, the PV5 is offered with a number of battery options, including a smaller 43.3 kWh Lithium-Iron-Phosphate (LFP) pack, as well as larger Nickel-Cobalt-Manganese (NCM) packs at 51.5 kWh and 71.2 kWh. The longest-range versions are good for about 250 miles of estimated range – more than enough for Kia to make a case for it as a practical, city-focused alternative to much larger (and pricier) electric vans.

Larger vans, by the way, that may not have that 5 star Euro NCAP rating.

Kia PV5


SOURCE | IMAGES: Kia; photo by Scooter Doll.


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.

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