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.
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.
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.
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.
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.”
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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Kia’s upcoming entry-level EV has finally made its way to the famous Nurburgring for testing. The EV4 hatch was spotted ripping across the track, nearly on two wheels at one point, as Kia preps for its big debut.
According to Kia, the EV4 is “an entirely new type of EV sedan. ” It was first unveiled last October during Kia’s first annual EV Day, alongside the EV3 and EV5 as part of its new low-cost lineup.
The EV5 launched in China last year, while the EV3 is already rolling out in Korea and Europe. Next up, we will finally see the production version of the EV4.
Although its four-door format suggests it’s a sedan, Kia said the EV4’s bold design is a symbol of the company’s innovation. Its low nose, long-tail silhouette, and added roof spoiler give it an almost racecar-like feel.
With its official debut approaching, Kia’s EV4 has been spotted out in the wild several times. Last week, it was caught testing in the US for the first time.
A hatchback model has also been spotted. It was first caught on European roads this summer and in the US earlier this month.
Kia EV4 hatch takes on the Nurburgring as debut looms
After the EV4 was spotted racing across the Nurburgring for the first time, we are getting our best look yet at the upcoming Kia model.
The video from CarSpyMedia shows the EV4 hatch carving up sections of the track. Several times, you can see the EV4 is being pushed to the limits, nearly going up on two wheels.
However, with a low center of gravity and likely added stabilization tech, the EV4 appears to handle it with ease. You can also see the difference between the sedan model and the hatchback, with the bulky backside.
As it takes on the track, it almost looks like the 576 hp EV6 GT, Kia’s fastest and most powerful car. At least for now.
Kia is expected to officially reveal the EV4 by the end of the year, with deliveries starting in 2025. Prices are expected to be in the $30,000 to $40,000 range. The hatchback model is likely aimed at Europe, but it could also find a market in the US as buyers drift toward more efficient options.
Ahead of the LA Auto Show later this week, Kia is teasing five new vehicles for the US, at least one being an EV. Will it be the EV4? EV3?
Source: CarSpyMedia
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Elon Musk is hinting at Tesla making bigger electric cars, but you shouldn’t hold your breath as it’s not the first time he said that.
In the last few hours, Musk responded to two fans on X, asking Tesla to build bigger vehicles to support larger families.
Musk often promotes the idea of having bigger families as he is afraid of declining populations due to low birth rates in some countries.
With the first one, the CEO responded with a simple “OK,” and with the other, he elaborated a bit more by referencing the recently unveiled Tesla Robovan and “some other things”:
Musk appears to be hinting at Tesla’s work on a bigger electric vehicle that has yet to be unveiled.
While interesting, it’s hard to give too much weight to the comment, considering Musk claimed that Tesla has been working on a higher passenger capacity vehicle for years.
A “high passenger-density urban transport” vehicle has been in Tesla’s official product roadmap since 2016 and has yet to be unveiled, unless you count the Robovan unveiled last month, but that’s completely attached to Tesla’s self-driving effort as the vehicle has no steering wheel or pedals.
As part of Tesla’s shift toward autonomous driving, the automaker has pulled back plans for several new electric vehicle programs in favor of those without any driver inputs, like Cybercab and Robotvan.
Tesla is expected to soon unveil two new vehicles to be launch next year, but those are based on the Model 3 and Model Y and therefore, they aren’t likely to be bigger vehicles.
Electrek’s Take
Like most things Elon says lately, it goes in my “I’ll believe it when I see it” folder.
That said, I think an electric van that can be configured for cargo, camper, or passenger, would make a ton of sense in Tesla’s vehicle lineup.
Of course, it’s harder to get the greenlight for a vehicle program like that if your CEO is perpetually convinced that the company is on the verge of achieving self-driving and making steering wheels obsolete.
I’m more of the opinion that Tesla should have played it more careful and continue working on growing its human-driveable EV lineup while working on self-driving.
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Penske Truck Leasing is rolling out rooftop solar on its US truck leasing, rental, and maintenance buildings, starting in Illinois.
Penske Truck Leasing, which offers an electric truck fleet leasing program, wants to cut emissions and save energy, so it’s activated its first rooftop solar system at its new facility in Channahon, Illinois (pictured). The 200 kW system is expected to generate about 80% of the building’s energy needs, and the rest will be supplied by the local utility.
The next Penske Truck Leasing rooftop solar system to come online will be in Grand Rapids, Michigan, “in the coming months,” followed by another in Linden, New Jersey, in 2025. All three of these new buildings are part of Penske’s LEED building program, which is designed to reduce energy use and promote sustainability.
Seven of Penske’s existing facilities in California will also get solar retrofits. These locations, which include Fresno, Hayward, La Mirada, National City, Riverside, San Diego, and San Leandro, are expected to generate about 600 kW of renewable energy in total.
Penske has teamed up with Sunrock Distributed Generation under a power purchase agreement to make the California upgrades happen. The company is also working with ForeFront Power, based in San Francisco, as its lead consultant for the solar rollout.
On average, these solar-powered Penske facilities will generate around 1 million kWh of renewable energy each year, preventing about 442 metric tons of CO2 emissions annually. That’s equivalent to the amount of energy needed to power nearly 90 homes for a year.
Drew Cullen, senior vice president of fuels and facility services at Penske, highlighted the significance of this move, noting:
Our solar program is an important piece of our renewable energy strategy, and ForeFront Power continues to be an outstanding partner in helping us bring these projects to fruition.
These investments will allow us to directly generate our own renewable energy to power our locations and continue to support our customers with sustainable solutions.
Penske Truck Leasing, part of Penske Transportation Solutions, is headquartered in Reading, Pennsylvania, and operates over 437,000 vehicles across North America, with nearly 1,000 maintenance facilities and more than 2,500 rental locations. Its investment in solar power is a key part of its broader sustainability strategy to cut emissions and reduce reliance on traditional energy sources.
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