EV Daily | BYD Breaks Records, Tesla Faces Challenges, NIO Expands, Honda Gains in US EV Market

【Tesla】

Tesla's sales in Europe are down 13.7% year-to-date, negatively impacting the overall EV market. Despite price reductions and increased production of the Model Y at its Berlin plant, Tesla's sales in November dropped by 10,000 units compared to last year. In the U.S., Tesla's sales are stagnating despite price cuts and federal incentives. The Model Y is unlikely to reclaim its title as Europe's top-selling vehicle, losing ground to the Dacia Sandero. Tesla is also working on deploying self-driving cars in Austin, Texas, where it has fewer regulatory challenges compared to California. Discussions with city officials have been ongoing since May.

【BYD】

BYD achieved record sales of over 500,000 NEVs in November, with its Song model and Seagull EV leading sales in China. The company is aggressively expanding overseas, introducing popular models like the Dolphin and Atto 3 SUV. BYD's growth is pressuring legacy automakers to restructure. The brand's continued expansion includes new manufacturing facilities in Thailand, Mexico, Brazil, Hungary, Turkey, and Pakistan.

【NIO】

NIO's new Onvo EV brand will debut in Europe in 2025, starting with the UK due to lower tariffs. The Onvo L60 electric SUV has had a strong sales start in China and will spearhead NIO's push in the European market. NIO plans to expand to up to 25 countries by the end of next year.

【Others】

Honda's Prologue EV is gaining traction in the US, ranking as the third best-selling EV last month. Priced competitively and built on GM's Ultium platform, it offers up to 296 miles of range. The Onvo L60 from NIO is also performing well in China, with plans for European release. Volkswagen faces challenges from Chinese automakers and plans to reconfigure production and job security in Germany to remain competitive. Toyota is expanding its EV lineup and received $4.5 million from the US Department of Energy to develop sustainable battery solutions. GAC Group is advancing its eVTOL ventures with the AirJet model, while Jetson is promoting its Jetson ONE eVTOL for racing applications. Archer Aviation is building a new eVTOL manufacturing facility in Georgia, aiming to scale production with the help of Stellantis. Meanwhile, Ford's BlueOval SK secured a $9.63 billion loan to boost battery production in the US.