EV Daily | Tesla and BYD Report Record Deliveries; Kia and Volvo Boost EV Lineups

【Tesla】

Tesla reported Q3 2024 production and delivery results, confirming the delivery of approximately 462,890 vehicles. Despite slightly missing Wall Street expectations, this marks a year-over-year increase. Tesla also shared it deployed 6.9 GWh of energy storage capacity, with its production surpassing deliveries, adding to its inventory. The automaker stopped offering precise guidance for annual deliveries.

Tesla discontinued its Model 3 Standard Range Rear-Wheel-Drive due to increased tariffs on Chinese batteries and difficulties in accessing tax credits. The cheapest option now is the Model 3 Long Range Rear-Wheel-Drive.

Tesla's energy segment reported significant growth with over 750,000 Powerwalls installed globally, indicating an increase in production capacity. Tesla announced the ability to produce 700,000 Powerwalls annually, a rise from the 500,000 deployed last year.

【BYD】

BYD set a new record with September sales of 419,426 NEVs, marking its fourth consecutive month of record-breaking sales. This includes strong performances from its Dynasty and Ocean models. The company sold 1.6 million PHEVs and 1,169,579 EVs through the first nine months of 2024. The Seagull model continues to lead in sales, with 43,425 units sold in September. BYD is expanding its lineup with new models, including luxury vehicles and electric supercars, and is increasing its presence overseas.

【Others】

Kia launched the 2025 Ray EV in Korea, maintaining its low starting price of under $21,000 while adding new features. It's become a popular entry-level EV, with over 8,500 units sold in Korea this year. Kia's EV sales are expected to rise, with new models like the EV3 and EV4 coming soon.

Rivian's R1T electric pickup demonstrated resilience, surviving Hurricane Helene's floodwaters in North Carolina, showcasing its robustness and durability.

Volvo's EX30, its cheapest electric SUV, drove sales growth in September, becoming the third best-selling Volvo model globally. Despite a drop in US sales, Volvo anticipates a turnaround with new EV models launching soon, like the EX90 and EX30, targeting high-demand segments.

Enel X Way announced the closure of its EV charger business in the US and Canada due to market changes and financial challenges, affecting residential and commercial operations.

Gogoro faced subsidy fraud accusations in Taiwan, but the government found insufficient evidence to support these claims. Gogoro's battery-swapping model continues to expand despite financial challenges.