EV Daily | Tesla Investor Divests Amid Leadership, Delivery Concerns; BYD, NIO, and Others Expand EV Market

【Tesla】

A long-time Tesla supporter and investor shares reasons for fully divesting from the company, citing a shift away from its original mission to accelerate sustainable transport. This includes dissatisfaction with Elon Musk's recent actions and overall changes in company priorities.

The author credits Tesla’s success to early leadership, support from other automakers like Daimler and Toyota, government regulations, and the talent at Tesla. However, he expresses concerns over the recent talent exodus and leadership changes.

Key issues mentioned include Tesla's declining EV deliveries, canceled programs, and Musk's controversial actions, such as threatening shareholders and selling Tesla shares to buy Twitter.

The author highlights Musk’s hypocrisy in canceling stock options for employees while fighting for his own, leading to a loss of trust among shareholders.

Concerns about Tesla's focus on AI and self-driving technology are raised, doubting the feasibility of achieving unsupervised self-driving anytime soon.

Despite Tesla's efforts to track progress on FSD, inconsistencies and lack of official data release raise red flags for the author.

In summary, the author has lost alignment with Tesla’s current mission and leadership and prefers liquidity in anticipation of a recession.

Tesla's roadmap for its AI and self-driving products raises questions due to the lack of intervention data and skepticism about achieving the promised improvements in miles between necessary interventions.

【BYD】

BYD is gaining traction in Japan with increased imports and new EV models like the Atto 3, Dolphin, and Seal. The company controls a significant portion of the global EV battery market, second only to CATL.

【NIO】

NIO's Q2 2024 financial results show record-high EV deliveries and revenue growth. The company is expanding its market share in China and worldwide, focusing on battery swapping and advanced EV technologies. NIO expects continued growth in Q3 with increased BEV deliveries and revenues.

【Others】

Volvo is focusing on tech and software to improve its EVs, launching new models like the EX90, EX60, and ES90. The company aims to cover key segments with affordable and luxury electric SUVs and sedans.

Ford's F-150 Lightning saw significant sales growth in August, but the company is delaying some EV initiatives in favor of hybrids, allowing competitors like Hyundai and Kia to gain market share.

Hyundai is making its EVs more affordable in Korea with new trims for the IONIQ 5, IONIQ 6, and Kona EVs. The company continues to break sales records in the US and plans to unveil new models like the IONIQ 9.

Genesis has upgraded the Electrified G80 to flagship status with improved range, features, and luxury, making it a strong contender in the electric luxury sedan market.

Japanese companies, including Toyota and Nissan, are investing $7 billion to boost EV battery output, aiming to establish a domestic supply chain and reduce reliance on China and South Korea.