EV Daily | Tesla Faces Renewed Price War in China as BYD Slashes Prices and Xiaomi Enters Market

【Tesla】

Tesla, an American automaker, faces increased pressure in the Chinese EV market due to a renewed price war. Previous price reductions have already impacted profitability, and competition from new EVs like Xiaomi's YU7 threatens Tesla's market position further.

【BYD】

BYD has initiated another price war in China by significantly reducing the prices of several models, including the Seagull hatchback and the Seal dual-motor hybrid sedan, sending local EV stocks downward. This aggressive pricing strategy comes amid BYD's nearly tripled gross profit from 2019 to 2024, challenging competitors who are yet to achieve profitability.

【Others】

Hyundai partnered with Munich University of Applied Sciences students to design the OBSIDIAN electric sedan concept, which blends elements from the Honda 0 Saloon and Tesla Cybertruck. The concept may signal a new design direction for Hyundai, embracing innovative automotive design. The OBSIDIAN features opaque, red-tinted windows and hints at luxury. Additionally, Lion Electric, a Canadian EV bus manufacturer, faces financial and legal challenges but anticipates a boost from a reinstated Quebec subsidy for electric school buses. SparkCharge, a mobile off-grid EV charger company, secured $30.5 million to expand its network across North America. The funding aims to enhance their Charging-as-a-Service model for commercial fleets, overcoming traditional charging barriers. The updated 2025 Wuling Starlight EV, with over 315 miles of range, features Impala-like dimensions and a refreshed design, including GM's Ling OS operating system. It will debut in China before updating the plug-in hybrid variant. The Memorial Day sales feature various e-bike and EV discounts, including Ride1Up's Portola Compact Folding e-bike and EcoFlow's RIVER 2 Max Portable Power Station. Other deals include Navee's e-scooters and Anker's power stations. Samsung offers appliance savings, complementing the spring EV offers. Cargo e-bikes gain popularity in the U.S., influenced by European models and driven by urban transportation needs and environmental concerns. Events like Bend, Oregon's Coffee & Cargo Bike Show highlight growing interest in cargo e-bikes as sustainable transportation solutions.