China’s leading EV maker, BYD, is quickly gaining ground in overseas markets. BYD opened its first store in the Caribbean as its global expansion heats up. The EV leader plans to enter ten new markets by the end of the year.
After setting a new weekly sales record in early May, BYD nearly topped its all-time sales record last month.
With 331,817 new energy vehicles (EVs and PHEVs) sold in May (+38% YOY), BYD posted its second-highest sales month ever. Of them, nearly 146,400 were fully electric. BYD has sold 580,974 all-electric vehicles so far this year, up 19% compared to the 488,600 sold a year ago.
BYD’s growing EV sales were fueled by price cuts and new lower-priced models launched earlier this year.
The Seagull EV is already rolling out in overseas markets. BYD launched the “Dolphin Mini” (as it’s called overseas) in Brazil, starting at around $20,000 (99,800 BRL). It’s available in two models with up to 236 miles (390 km) of NEDC range. In Mexico, it starts at $19,780 (358,800 pesos).
BYD Dolphin Mini (Seagull) testing in Brazil (Source: BYD)
BYD’s Seagull (Dolphin Mini) is expected to launch in Europe next year as one of the most affordable EVs on the market.
Despite potential tariffs, BYD still expects the low-cost EV to start at less than 20,000 euros ($21,500), still thousands lower than its rivals. With two plants planned in the region, BYD doesn’t expect any significant impacts from the potential tariffs on EVs made in China.
BYD Dolphin Mini (Seagull) launch in Brazil (Source: BYD)
BYD takes on the Caribbean as first shop opens up
Although BYD has been selling EVs in the Caribbean for several years now, the automaker is now opening its first store in the region.
BYD announced the grand opening of its first dealership in the Caribbean last week. The new shop is located in Port of Spain, the capital of the Republic of Trinidad and Tobago, but BYD plans to expand sales to new markets.
BYD’s wide-reaching portfolio (Source: BYD)
According to CarNewsChina, BYD plans to expand to 10 more countries by the end of 2024. BYD plans to open shops in Jamaica, Barbados, and the Cayman Islands.
BYD was already the top-selling EV maker in Brazil last year, but new models and dealerships are expected to fuel its momentum.
BYD Shark launch event (Source: BYD)
BYD launched its first pickup last month in Mexico, the Shark PHEV. Starting at 899,980 pesos ($53,400), BYD Shark will rival Toyota’s Hilux and Ford Ranger models in the region.
Powered by a 29.58 kWh BYD Blade battery, the Shark PHEV has 100 km (62 mi) all-electric NEDC range. Its combined range is 840 km (522 mi).
BYD is expanding into other segments, including mid-size SUVs. BYD’s new Sea Lion 07 is poised to compete with Tesla’s best-selling Model Y, staring at just 189,800 yuan ($26,250) in China.
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The e-bike industry in the West has long been a tale of two territories. North Americans enjoy higher speeds and power limits for their electric bicycles while Europeans are held to much stricter (i.e. slower and lower) speed and power limits. However, things might change based on current discussions on rewriting European e-bike regulations.
New power levels are not totally without precedent, either. The UK briefly considered doubling its own e-bike power limit from 250 watts (approximately 1/3 horsepower) to 500 watts, though the move was ultimately abandoned.
But this time, the call for more power is coming from within the house – i.e., Germany. The Germans are the undisputed leaders and trend setters in the European e-bike market, accounting for around two million sales of e-bikes per year. Home to leading e-bike drive makers like Bosch, the country has yet another advantage when it comes to making – or regulating – waves in the industry.
And while there aren’t any pending law changes, the largest German trade organization ZIV (Zweirad-Industrie-Verband), which is highly influential in achieving such changes, is now discussing what it believes could be pertinent updates to current EU electric bike regulations.
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Some of the new regulations involve creating rules maxing out power at levels such as 400% or 600% of the human pedaling input. But a key component of the proposed plan includes changing the present day power limit of e-bikes from 250W of continuous power at the motor to 750W of peak power at the drive wheel.
The difference includes some nuance, since continuous power is often considered more of a nominal figure, meaning nearly every e-bike motor in Europe wears a “250W” or less sticker despite often outputting a higher level of peak power. Even Bosch, which has to walk the tight and narrow as a leader in the European e-bike drive market, shared that its newest models of motors are capable of peak power ratings in the 600W level. That’s still far from the commonly 1,000W to 1,300W peak power seen in US e-bike motors, but offers a nice boost over an actual 250W motor.
Other new regulations up for discussion include proposals to limit fully-loaded cargo e-bike weights to either 250 kg (550 lb) for two-wheelers or 300 kg (660 lb) for e-bikes with more than two wheels. As road.cc explained, ZIV also noted that, “separate framework conditions and parameters must be defined for cargo bikes weighing more than 300 kg (see EN 17860-4:2025) as they differ significantly from EPACs and bicycles in their dynamics, design and operation.” Such heavy-duty cargo e-bikes, which often more closely resemble small delivery vans than large cargo bikes, are becoming more common in the industry and have raised concerns about cargo e-bike bloat, especially in dedicated cycling paths.
It’s too early to say whether European e-bike regulations will actually change, but the fact that key industry voices with the power to influence policy are openly advocating for it suggests that new rules for the European market are a real possibility.
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China just laid out a plan to roll out over 100,000 ultra-fast EV charging stations by 2027 – and they’ll all be open to the public.
The National Development and Reform Commission’s (NDRC) joint notice, issued on Monday, asks local authorities to put together construction plans for highway service areas and prioritize the ones that see 40% or more usage during holiday travel rushes.
The NDRC notes that China’s ultra-fast EV charging infrastructure needs upgrading as more 800V EVs hit the road. Those high-voltage platforms can handle super-fast charging in as little as 10 to 30 minutes, but only if the charging hardware is up to speed.
China had 31.4 million EVs on the road at the end of 2024 – nearly 9% of the country’s total vehicle fleet. But charging access is still catching up. As of May 2025, there were 14.4 million charging points, or roughly 1 for every 2.2 EVs.
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To keep the grid running smoothly, China wants new chargers to be smart, with dynamic pricing to incentivize off-peak charging and solar and storage to power the charging stations.
To make the business side work, the government is pushing for 10-year leases for charging station operators, and it’s backing the buildout with local government bonds.
The NDRC emphasized that the DC fast chargers built will be open to the public. This is a big deal because a lot of fast chargers in China aren’t. For example, BYD’s new megawatt chargers aren’t open to third-party vehicles.
As of September 2024, China had expanded its charging infrastructure to 11.4 million EV chargers, but only 3.3 million were public.
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A U.S. Justice Department logo or seal showing Justice Department headquarters, known as “Main Justice,” is seen behind the podium in the Department’s headquarters briefing room before a news conference with the Attorney General in Washington, January 24, 2023.
Kevin Lamarque | Reuters
Federal prosecutors have charged two men in connection with a sprawling cryptocurrency investment scheme that defrauded victims out of more than $650 million.
The indictment, unsealed in the District of Puerto Rico, accuses Michael Shannon Sims, 48, of Georgia and Florida, and Juan Carlos Reynoso, 57, of New Jersey and Florida, of operating and promoting OmegaPro, an international crypto multi-level marketing scheme that promised investors 300% returns over 16 months through foreign exchange trading.
“This case exposes the ruthless reality of modern financial crime,” said the Internal Revenue Service’s Chief of Criminal Investigations Guy Ficco. “OmegaPro promised financial freedom but delivered financial ruin.”
From 2019 to 2023, Sims, Reynoso and their co-conspirators allegedly lured thousands of victims worldwide to purchase “investment packages” using cryptocurrency, falsely claiming the funds would be safely managed by elite forex traders, the Department of Justice said.
Prosecutors said the pair flaunted their wealth through social media and extravagant events — including projecting the OmegaPro logo onto the Burj Khalifa, Dubai’s tallest building — to convince investors the operation was legitimate.
A video posted to the company’s LinkedIn page shows guests in evening attire posing for photos and watching the spectacle in Dubai.
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In reality, authorities allege, OmegaPro was a pyramid-style fraud.
When the company later claimed it had suffered a hack, the defendants told victims they had transferred their funds to a new platform called Broker Group, the DOJ said. Users were never able to withdraw their money from either platform.
The two men face charges of conspiracy to commit wire fraud and conspiracy to commit money laundering, each carrying a maximum sentence of 20 years in prison.
The Justice Department, FBI, IRS-Criminal Investigation, and Homeland Security Investigations led the multiagency investigation, with help from international partners.