EV Daily | Tesla Faces Resale Struggles; BYD Halts Brazil Plant; NIO's ET9 Sells Out; Hyundai Unveils IONIQ 5

【Tesla】

Hertz is facing challenges in unloading its Tesla vehicle inventory after a significant drop in resale values, following Tesla's price cuts in 2022 and 2023. Hertz is attempting to sell used Tesla cars to renters directly, offering them at reduced prices. Additionally, Tesla has reportedly signed a battery cell supply agreement with EVE Energy, a Chinese manufacturer, expected to start deliveries from its Malaysian factory in 2026.

【BYD】

BYD is dealing with halted construction at its Brazilian EV plant due to allegations of "slavery-like" conditions for Chinese workers. BYD has cut ties with the contractor involved and is cooperating with authorities, emphasizing its commitment to workers' rights. Meanwhile, BYD remains a top-selling EV brand in Brazil, recently introducing the Shark PHEV pickup and planning to produce 150,000 vehicles annually at the new plant once operational.

【NIO】

NIO's luxury sedan, the ET9, has seen a successful launch, with its Limited Edition selling out quickly. NIO has responded to high demand by introducing the Signature Edition, offering slightly different features and pricing. The ET9 is set to launch in 2025, with both battery-included and Battery-as-a-Service options available to consumers.

【Others】

Hyundai has launched the upgraded 2025 IONIQ 5 with more driving range and a Tesla Supercharger-compatible charging port. The IONIQ 5 Limited offers a stylish design and improved battery options, and Hyundai's first three-row electric SUV, the IONIQ 9, is expected in early 2025. Hyundai is also preparing to start testing all-solid-state batteries by 2025, aiming for mass production by the decade's end.

Kia plans to introduce the all-electric Syros SUV in India by 2025, sharing a platform with Hyundai's Inster EV. The Syros EV is expected to offer similar features to its gas-powered counterpart, with a focus on affordability.

Volkswagen announced operational changes without immediate factory closures or layoffs but plans to cut 35,000 jobs in Germany by 2030. Ford, General Motors, and Toyota have donated to Donald Trump's inauguration, hoping for favorable policies under his administration.