EV Daily | Tesla and BYD Make Strategic Moves Amid Global EV Market Shifts

【Tesla】

Tesla has increased the price of the Model X by $5,000 in the US while reintroducing an incentive package that includes a $1,000 discount with a referral code, a free option if purchasing the Full Self-Driving package, and free Supercharging for life. The latter, which was deemed unsustainable by Elon Musk in 2020, is now limited to new Model S and Model X orders linked to the buyer's Tesla account. Meanwhile, Tesla's sales in China remain stable despite a production switch to the refreshed Model Y at Gigafactory Shanghai, with 63,238 units sold in January. However, a temporary shutdown and expected lower sales in February may impact volumes. Tesla is facing significant sales drops in Germany and other markets despite increasing discounts on Model 3 vehicles, with the Model Y transition affecting inventory and production.

【BYD】

BYD has launched the Atto 2 electric SUV in Europe, following its debut at the Brussels Motor Show. The compact SUV features BYD's Blade battery technology and e-Platform 3.0, optimized for European streets. It offers a luggage space of up to 1,340 liters and a range of around 312 km. The Atto 3, its predecessor, has been successful in China, with nearly 125,000 units sold. The Atto 2 is expected to be competitively priced in Europe, similar to the Volvo EX30.

【Others】

Porsche aims to boost short-term profits with new gas-powered and plug-in hybrid vehicles amid declining EV sales. The company faces stiff competition from domestic brands like BYD in China, and its EV sales, including the Macan and Taycan, have dropped significantly. Meanwhile, Porsche's market cap has been halved compared to 2023 due to these challenges and stock price drops. Xiaomi delivered over 135,000 SU7 models and plans to launch another EV, the YU7, this summer. Meanwhile, Nissan's new LEAF, expected to debut later this year, adopts a crossover coupe design inspired by the Ariya SUV, aiming for improved range and charging capabilities. Jeep's first electric SUV, the Wagoneer S, sees significant discounts in the US, with up to $10,500 off through a new Presidents' Day promotion. The offer includes a $3,000 discount and 0% APR financing, aiming to attract new buyers. GM plans to discontinue the gas-powered Chevy Blazer after the 2025 model, focusing on electric vehicles at its Mexico plant. The shift aligns with GM's broader transition to EVs amidst declining sales of combustion engine models.