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The world’s EV leader, BYD (OTC: BYDDY), announced a stock buyback plan as it continues expanding into new markets. BYD is pushing into different segments with new luxury EVs and mid-size electric SUVs.

Expanding into new EV segments

After selling a record 526,409 all-electric vehicles in the fourth quarter of 2023, BYD topped Tesla to become the best-selling EV maker globally.

The automaker’s success was fueled by its lineup of affordable EVs like the Dolphin, Atto 3 (Yuan Plus in China), and Seal. However, BYD is quickly expanding into new segments.

BYD launched its Yangwang, an ultra-luxury brand, in January 2023, showcasing two vehicles, the U8 off-roader and the U9 electric supercar. The brand launched the rugged Yangwang U8 SUV as its first vehicle in September, with a $150,000 (1,098,000 RMB) price tag.

The luxury off-roader packs 1,200 hp and includes innovative features like 360-degree tank turns, tire blowout stabilization, and wading. It even includes a “float mode” to navigate through deep water during an emergency.

BYD-stock-buyback
Yangwang U8 (Source: BYD/Yangwang)

Last month, BYD revealed the luxury brand’s first sedan, the U7. BYD’s Yangwang U7 includes four electric motors for 1,300 combined hp (960 kW).

With a 135.5 kWh LFP battery pack from BYD’s FinDreams battery unit, the U7 has up to 497 miles (800 km) CLTC range. The U7 comes in base (447 mi) and long-range (497 mi) models with prices starting around $140,000 (1,000,000 RMB).

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BYD Yangwang U7 (Source: Yangwang)

BYD will officially launch the U9 electric supercar on February 29, 2024, according to invitations sent out.

The Yangwang luxury U9 supercar EV features the same 1,300 hp (960 kW) quad motor system for a 0 to 60 mph sprint in under 2 seconds.

BYD-launching-YangWang-U9
BYD Yangwang U9 (Source: BYD)

Meanwhile, BYD is launching several new mid-size electric SUVs aimed at Tesla’s sweet spot with its best-selling Model Y.

BYD unveiled its Sea Lion 07 in November, calling it its “first mid-size urban smart electric SUV.” At 4,830 mm long, 1,925 mm wide, and 1,620 mm tall, the Sea Lion 07 will directly compete with Tesla’s Model Y (4,760 mm long, 1,921 mm wide, and 1,624 mm tall).

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

The Sea Lion 07 is expected to start at around 200,000 RMB to 260,000 RMB ($28,000 – $35,900). BYD launched another mid-size SUV, the Song L, in December, starting at 189,800 RMB ($26,700) with up to 662 km (411 mi) CLTC range.

BYD issues stock buyback

BYD announced a stock buyback plan, according to a filing, as it looks to turn around falling share prices and lure investors to fuel its expansion.

Share prices have fallen nearly 32% from a 52-week high of $71.70 in July to around $48.70. BYD stock is up about 4% on Monday as investors welcome a buyback.

BYD-stock-buyback
BYD (OTC: BYDDY) stock chart over the past 12 months (Source: TradingView)

Companies will often buy shares to show investors they are confident in their vision. It’s essentially a way of “putting your money where your mouth is.” It can also create more shareholder value.

BYD’s overseas expansion has mainly consisted of low-cost EVs, but the automaker is considering introducing its new higher-end models in Europe. The company could bring its Yangwang U8 off-roader to Europe to take on the Mercedes-Benz G-Class, Range Rover, and other premium brands.

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BYD Seal (Source: BYD)

The company is not the only EV maker with falling share prices. Tesla, Rivian, Lucid, NIO, and essentially the entire segment has slipped over the past few months with global macroeconomic fears and ongoing price cuts leading to deteriorating margins.

That said, BYD and other EV stocks have rebounded this month, with BYDDY shares up nearly 12% after hitting a yearly low of $43.62 earlier this month.

Source: Automotive News

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Tesla hints at finally producing the next-gen Roadster in new job listing

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Tesla hints at finally producing the next-gen Roadster in new job listing

Tesla is talking about finally bringing the next-generation Roadster to production in new job listing.

However, you shouldn’t hold your breath.

The prototype for the next-generation Tesla Roadster was unveiled in 2017 and was supposed to enter production in 2020, but it has been delayed each year since then.

It has become a running gag in the Tesla community and an example of CEO Elon Musk’s tendency to stretch the truth about timelines.

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Since missing its original 2020 production timeline, Musk has given six updated production timelines for the new electric supercar, and each has been wrong.

The latest timeline hasn’t even been about producing the vehicle. It has been about the unveiling of a new version of the next-generation as the last prototype of what is supposed to be a “next-gen” car was unveiled almost a decade ago.

Musk has been talking about an unveiling and demonstration of the New Roadster by the end of the year.

This week, Tesla has posted a new job listing for a ‘Manufacturing Engineer, Roadster‘. In the job description, Tesla mentions working on battery manufacturing equipment for the Roadster:

Tesla is looking to hire a Manufacturing Engineer to contribute to the concept development and launch of battery manufacturing equipment for our cutting-edge Roadster vehicle. In this role you will take large scale manufacturing systems for new battery products and architectures from the early concept development stage through equipment launch, optimization and handover to local operations teams. Battery development is at the heart of our company, and this is an exciting opportunity to work directly on the central challenges for the all-new Roadster product architecture while still in its early development stages.

The comment does point to Tesla starting to set up manufacturing for the production of the new Roadster.

Since this does sound like early manufacturing development work, it would be optimistic to hope to see new Roadsters rolling off the production line by the end of next year. More likely to be in 2027.

In its updated annual installed production capacity chart, Tesla listed Roadster production as still being in the “design development” phase as of last week:

The location of Roadster production is also listed as “to be determined.”

The new job listing for a manufacturing engineer on the Roadster program mentions being based in Fremont, which could mean Tesla plans to launch production at its California factory.

Tesla next-gen Roadster

Tesla Roadster

As unveiled in 2017, the new Roadster was supposed to get 620 miles (1,000 km) of range and accelerate from 0 to 60 mph in 1.9 seconds.

It was listed for $200,000, and a “Founder Series” was also offered for $250,000.

At the time, Tesla used the Roadster as a prize for its referral program when it badly needed to generate sales. A few dozen Tesla owners referred enough new sales to win one or two free new Roadsters each.

Some have suspected that Tesla didn’t want to bring the vehicle to production because it would have to deliver over 30 of them for free and hundreds more at heavy discounts due to its original referral program.

Others believe that updates to the vehicles have led to delays.

Shortly after the unveiling of the next-gen Roadster in 2017, Musk discussed adding cold-air thrusters to the supercar to deliver unprecedented racing performance and possibly even allow it to hover over the ground.

The CEO referenced demonstrating that the “Roadster can fly” on several occasions in the last few years.

Electrek’s Take

It looks like we are talking about the Roadster possibly coming to market in 2027—maybe late 2026 at the earliest.

That’s roughly 10 years after it was unveiled.

I’ll believe it when I see it. And if it does happen, I might have one or two flying Roasters for sale.

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TV brand SHARP gets into the EV game with this living room on wheels

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TV brand SHARP gets into the EV game with this living room on wheels

Just like it says on the tine: TV brand SHARP is following Sony into the automotive space with the new LDK+ concept that transforms into a mobile movie theater. It’s a type of concept we’ve seen before – but not like this!

The SHARP LDK+ promises to be a Living room, a Dining room, and a Kitchen on wheels – and more (the plus, obviously), building off the decidedly more blobular™ concept first shown back in 2024. This updated version, however, takes the LDK concept and brings it significantly closer to reality by basing it on Foxconn’s “Model A EV by Hon Hai Technology Group” chassis.

And, now that it’s a little bit closer to some kind of reality, it might be time to climb on the SHARP hype train and take a minute to genuinely enjoy the movie/gaming environment the company is promising to deliver with the LDK+ concept.

Get hyped, kids


SHARP LDK interior, by the Yomiuri Shimbun; via The Japan News.

Not to be overly crude here, but if you roll in a van with a sliding projector table, opaque windows, and fully reclining seats, you probably hit the “family planning” section of your local Walgreens on a regular basis. Similarly, as more and more young people find themselves struggling to afford their own space, offering a vehicle that delivers a little privacy. And even if that’s more Netflix than chill, I think it’s bound to find a few buyers.

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Whether I’m right or wrong about that will remain to be seen for a while, however. The official press release is light on specs, offering the following description of the LDK+ concept …

The second iteration of “LDK+” retains the original concept while featuring both high maneuverability with its compact body and a spacious, relaxing interior. Developed based on the“Model A” EV by Hon Hai Technology Group (Foxconn), this compact minivan model offers an expansive cabin layout.

When parked, the vehicle can be used as a theater room or a remote workspace. A console box equipped with a table and projector is placed between the driver’s and passenger’s seats. By swiveling the driver’s seat to face backward, it creates a living room-like atmosphere where you can sit around with the rear seats. Pulling down the screen installed above the rear seats allows you to enjoy movies or conduct online meetings on a large display. Through Sharp’s AIoT platform, which connects AI and home appliances, the vehicle links with household devices such as kitchen appliances, air conditioning, and laundry systems. The AI learns residents’ lifestyles and preferences, creating personalized new ways of living. In addition, the system can connect with V2H (Vehicle to Home) solutions, enabling efficient energy management by integrating solar power generation and residential storage batteries.

SHARP

… but skipping automotive basics like battery capacity, anticipated driving range, and the usual horsepower and torque figures. Pricing and, perhaps most importantly, when the vehicle might see the light of day weren’t revealed, either.

SHARP LDK+ concept


All of which is to say: they’re probably never going to actually build something like this – and that’s too bad, because a new-age Honda Element/Nissan Cube-style boxy little EV would absolutely sell like hotcakes.

SOURCE | IMAGES: SHARP, The Japan News.


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Forget the myths: EV batteries are now more than 99% recyclable

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Forget the myths: EV batteries are now more than 99% recyclable

All those people who want you to believe mining for EV batteries is as dirty as drilling for oil? They don’t want you to know about recycling – and they really don’t want you to know about a new pilot recycling program is promising a radical leap in battery recycling efficiency, with recovery reportedly rates exceeding 99% for critical metals like nickel, cobalt, and manganese.

Thanks to a new, highly detailed, and (crucially) enforceable regulatory framework of 22 national standards backed by a newly formed national technical committee, a team of Chinese-led researchers is raising the bar when it comes to battery recycling efficiency.

These new standards brings together stakeholders from raw material supply, battery production, recycling and dismantling, and chemical processing disciplines to address battery recycling needs across automotive, marine, and energy storage applications. The rules feature titles like, “Vehicle power battery recycling and dismantling specification,” and, “Vehicle power battery remaining energy detection (standard),” and provide the nation’s auto industry with clear and uniform procedures for handling retired batteries.

The results of a single, standardized approach have been revolutionary, and companies adhering to the new protocols are, according to CarNewsChina, seeing recovery rates of 99.6% for nickel, cobalt, and manganese, and an impressive 96.5% for lithium – figures that were once considered a distant goal for the global industry.

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Electrek’s Take


EV battery recycled metals
Reclaimed battery materials; by BASF.

Despite being presented as an environmental liability, EV batteries represent a single sunk carbon cost that diminishes rapidly over time. Simply put: the more you use an EV battery, the greener it gets – and now that more than 99% of the battery materials can be recycled and reused in batteries that are as good as or better than they were the first time around, the batteries can become a predictable source of critical raw materials, generating significant economic value while drastically reducing the need for virgin mining and encouraging domestic job growth.

Too bad our own US policymakers can’t get this one right.

SOURCE | IMAGES: CarNewsChina; Enel.


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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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