EV Daily | Tesla Slashes Cybertruck Lease Prices Amid Demand Issues; BYD Surpasses Delivery Goals

【Tesla】

Tesla has lowered lease prices on the Cybertruck amid demand issues, with production initially over budget and underperforming in range. The company has made significant efforts to boost sales, including adding the Cybertruck to its referral program for discounts and introducing lease buyouts. Despite over a million reservations, Tesla's backlog for the Cybertruck has depleted, indicating a demand shortfall.

In addition, a judge has rejected Tesla's attempt to reinstate Elon Musk’s $55 billion CEO pay package due to governance irregularities, suggesting Tesla misrepresented the situation to shareholders during a shareholder vote to ratify the compensation.

Tesla has also initiated its 2024 Holiday Update, featuring Apple Watch integration, enhanced Dashcam, Sentry Mode features, SiriusXM, and various navigation improvements. Autoshift and cross-traffic warning updates are part of the new features for their vehicles.

【BYD】

BYD continues its global expansion with its second branded ship, "Changzhou," exporting thousands of NEVs to Europe, despite European tariffs. The company surpassed its 2024 delivery goal, selling over 500,000 vehicles in November, marking another record-breaking month. It plans to launch more ships for global exports in the coming year. Meanwhile, BYD remains a dominant force in the EV market, outpacing Ford, Nissan, and Honda in Q3 deliveries.

【Others】

Kia confirmed the EV4 will join its lineup in 2025 as part of its lower-cost EV strategy. The EV4, with a sedan-inspired design, will launch alongside the EV3 and EV5, expanding Kia's electric portfolio. Kia aims for 1.6 million EV sales by 2030.

Porsche is preparing to launch the electric Boxster and Cayman EVs in 2025, focusing on high-performance driving experiences with Formula E-inspired technology. Despite extending its lineup of gas-powered vehicles, Porsche is set to enhance its EV range with these new sports cars.

TELO, a startup designing a compact electric truck, has launched a configurator for its vehicles, revealing a base price under $50k, significantly less than expected. The truck is designed for maximum utility with a minimal footprint, catering to city use and urban environments.

Aptera Motors has reopened its crowdfunding program, allowing fans to invest in its solar electric vehicle technology. The startup needs additional funding to begin low-volume SEV production, anticipated for late 2025, after its initial crowdfunding success.

Jaguar's new electric GT, part of its upcoming ultra-luxury EV lineup, has been revealed in leaked images. The car, set to debut officially, features a bold new design and high performance, and it will be the first of three new luxury EVs launching from 2026.

Stromer, a Swiss e-bike maker, is exiting the North American market due to low sales volume. Despite a strong base in Europe, the premium end of the U.S. e-bike market struggles, while budget brands like Lectric Ebikes thrive.