EV Daily | Tesla Expands Megafactory Reach Amid Price Cuts; GM Overtakes Ford in US EV Sales

【Tesla】

Tesla's energy storage business is thriving, with Q4 2024 seeing a record 11 GWh of deployments, up from 9.4 GWh in Q2. The production increase follows the full ramp-up of the Megafactory in California, which produces the Megapack. Tesla also plans to replicate its success with a new Shanghai Megafactory. Despite increasing volumes, Tesla is lowering prices due to rising competition, particularly from CATL's new Megapack competitor.

【Others】

Hyundai started producing the 2025 IONIQ 5 in October, featuring improved range and a NACS port for Tesla Supercharging compatibility. GM reported a surge in EV sales, surpassing Ford to become the second-largest EV seller in the US, with models like the Chevy Equinox and Blazer EV driving demand. Rivian exceeded delivery expectations in Q4 2024 with 14,183 vehicles delivered and plans to post its first positive growth profit in Q4. Honda's Prologue SUV had a strong year with over 33,000 units sold, significantly impacting its brand sales. Hyundai and Kia achieved record US sales in 2024, driven by models like the EV9 and IONIQ 5, and plan more growth with new plants and models in 2025. Mullen Automotive is expanding its EV presence with predictions of increased affordability and new use cases for EVs in 2025. Toyota's bZ4X struggles in the US market, lagging behind competitors like Hyundai, Kia, and Nissan despite a 99% YOY sales increase. Toyota plans to slash prices and rely on future battery technology advancements. Volkswagen has resolved the ID.4 recall issue and resumed production and sales, aiming to regain its position in the US EV market. Equinor secured $3 billion for the Empire Wind 1 offshore wind farm in New York, set to power 500,000 homes by 2027.