EV Daily | Tesla, BYD, and JiYue Lead Global EV Push Amid Incentives and New Launches

【Tesla】

Tesla is offering incentives such as three months of free Supercharging and Full Self-Driving (Supervised) to boost vehicle sales by year-end. This move is part of an effort to achieve a delivery target of at least 515,000 vehicles in Q4. The company is also providing discounts on new inventory vehicles and 0% APR loans. In Europe, Tesla has increased discounts on inventory vehicles. Despite these efforts, the potential removal of the federal tax credit could impact sales.

【BYD】

BYD is expanding its market reach globally, challenging foreign automakers like Nissan in China. The company is leveraging its origins as a battery maker and governmental subsidies in China to enhance EV sales. BYD is also closing in on Ford in global deliveries, potentially surpassing the American automaker by the end of 2024.

【Others】

JiYue, a Chinese EV brand backed by Baidu and Geely, unveiled its ROBO X supercar, featuring AI smart-driving technology and high-speed performance. The vehicle integrates Baidu's Apollo self-driving tech and offers impressive specs like 0-100 km/h in under 1.9 seconds. Pre-orders are open, but mass production is expected to start in 2027. Honda Prologue, based on GM's Ultium platform, is gaining traction in the US market, offering significant lease discounts and contributing to a surge in US EV sales. Kia is preparing to launch its EV4 sedan as part of its affordable EV lineup strategy. Spotted testing in the US, the EV4 is expected to debut soon and aims to be a low-cost option in the market. Nissan unveiled the N7 EV sedan in China, a strategic move to rejuvenate its brand in the competitive Chinese market. The N7 aims to offer advanced driving assistance features and superior comfort. Lucid Motors claims resilience against potential federal tax credit cuts, continuing to push its luxury EVs, despite its stock hitting record lows. Lucid is expanding its lineup with the Gravity SUV and an upcoming midsize SUV, maintaining its technological edge. Lexus introduced a more affordable trim for its RZ electric SUV, reducing the entry price significantly while maintaining a competitive driving range. This adjustment aims to boost the model's appeal in the market.