EV Daily | BMW Tops European EV Sales in Surprise Upset; Tesla Unveils New Models and Faces Leadership Changes

Generated by AI AgentAinvest Market Brief
Friday, Aug 23, 2024 8:00 am ET1min read
TSLA--
【Tesla】

BMW led EV sales in Europe last month, surpassing Tesla for the first time. Despite a 16% YoY decline, Tesla's Model Y remained the top-selling EV with 9,544 units sold. Tesla continues to lead YTD sales with 178,700 models sold.

Tesla is rolling out the new Model 3 Performance and Model Y Highland. Additionally, Tesla is testing a cheaper Model 3 interior in Mexico, potentially priced around $35,000.

Tesla launched the Cybertruck, which ranks as the fifth best-selling EV in the US for Q2. The company has also lifted its no-resale clause for the Cybertruck.

Tesla has experienced significant leadership turnover, including the departure of Sreela Venkataratnam, a long-time vice president. The company also faced multiple waves of layoffs earlier this year.

【Others】

Hyundai's IONIQ 5 was the fourth best-selling EV in Q2. The company is testing a new off-road variant, the IONIQ 5 XRT, featuring rugged design elements and E-Terrain mode for improved traction. Hyundai Motor Group, including Kia, accounted for 10% of US EV sales in Q2. Hyundai's new Casper EV, priced around $23,000, is designed for young drivers and offers up to 196 miles of range.

Xiaomi plans to launch its 1,548hp SU7 Ultra trim in early 2025, with global expansion on the horizon. The company aims to become a top-five automaker within 15-20 years.

Ford canceled its three-row electric SUV project, shifting focus to hybrid models and delaying its next-gen pickup launch. Rival brands like Kia, Hyundai, and Volvo are stepping in to fill the segment.

Aptera Motors received bodies in carbon from Italy for its next three production-intent solar EV builds. The company aims for scaled production by 2025.

The German automobile industry lobby group VDA recommends ending fossil fuel sales by 2045 but advocates for e-fuels over rapid electrification.

Volvo expects new electric SUVs, the EX90 and EX30, to boost US sales. The EX90 is set to arrive later this year, while the EX30 will follow in 2025.

Love’s Travel Stops is expanding EV charging stations across the US, funded by the NEVI grant program. The company plans to allocate space for EV chargers in all new locations.

Clip is expanding its operations with a $10M Series A funding round for its e-bike conversion kits, which offer a removable, friction drive system for existing bikes.

Market Watch column provides a thorough analysis of stock market fluctuations and expert ratings.

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