EV Daily | BYD Surpasses Tesla in Revenue, Launches Qin L EV, Expands with New Tech and Plants

【Tesla】

Elon Musk's $55 billion compensation package for Tesla far exceeds the company's accumulated net income since its inception. Musk's lawyers have launched efforts to reinstate this package, but it was previously revoked by a Delaware judge due to governance issues. If successful, Musk's compensation would be 1.6 times the company's net income. Despite Tesla's significant stock price rise, its net income is projected to reach the package amount by the end of 2027. Additionally, Tesla experienced a 50% drop in net income in 2024 due to lower car deliveries and demand issues, leading to stock volatility and Wall Street adjusting delivery estimates downward. Tesla's FSD package in China was halted due to new regulatory scrutiny.



【BYD】

BYD launched the Qin L EV, a cost-effective, Tesla Model 3-sized electric sedan, featuring BYD's "God's Eye" smart driving tech and up to 545 km range. It starts at less than $17,000. BYD's revenue surged over $100 billion in 2024, surpassing Tesla, with 1.5 million new energy vehicle sales in Q4. BYD is expanding overseas, eyeing a third European plant in Germany, and its sales are expected to double in 2025. The company is also rolling out new smart technology and plans for a 1000V Super E fast charger.



【Others】

Revel, an EV charging company, is expanding to San Francisco with 12 320kW chargers, planning 125 more chargers in the Bay Area.

First Student introduced 16 electric school buses in Pittsburgh, offering a quieter and eco-friendly transportation option with lower maintenance costs.

InstaVolt opened the UK's largest charging Superhub in Winchester, featuring 44 160 kW chargers powered by solar and battery systems, supporting sustainability in EV charging.

Hyundai will invest $21 billion in the US to boost production and infrastructure, including a new steel plant, while launching new EV models like the IONIQ 5 and IONIQ 9.

Toyota is delaying its long-range EV battery plant in Japan due to low demand and construction costs, impacting new battery releases.

EHang and JAC Motors are establishing a joint venture to manufacture eVTOL aircraft in China, following a successful eVTOL test flight in Spain.