EV Daily | Tesla Eyes Larger EVs Amid Battery Challenges; BYD Hits 10M NEVs; Lucid Gains Traction

【Tesla】

Elon Musk hinted at Tesla's exploration of larger electric vehicles, referencing models like the Robovan and potential new projects. Long rumored, these modifications align with Tesla's focus on autonomous vehicles, pulling back from traditional models. Despite Musk's openness to feedback, the timeline for a larger EV remains unclear. Meanwhile, Tesla struggles with battery production as its primary supplier, CATL, questions Musk's expertise on the 4680 cell initiative. Tesla is subsidizing leasing options for Model Y to boost sales, aiming for a record delivery of 515,000 vehicles. The Model Y lease reduction is part of a strategy to clear inventory.

【BYD】

BYD marked the production of its ten millionth new energy vehicle, asserting its status as a leading global automaker. The company has rapidly expanded, selling over 3.25 million NEVs in 2024 so far, as it targets international markets. This growth includes discontinuing internal combustion engines to focus on NEVs, with successful models like the Seagull and new luxury offerings propelling its global deliveries past auto giants like Ford. BYD is also increasing its workforce and production to meet the rising demand.

【Others】

Lucid Motors is gaining traction with its Air model outselling Tesla's Model S, while the CEO aims to compete directly with Tesla's Model Y. Lucid's focus remains on luxury vehicles, with no plans to produce a budget-friendly $20,000 EV, instead targeting efficiency and cost reduction. The company plans to license its technology for cheaper EV production while introducing models like the mid-range SUV by 2026.

Eco Wave Power secured a permit to install the first US onshore wave energy system at the Port of Los Angeles, marking a significant step in renewable energy. The pilot project, a collaboration with Shell, represents a technological breakthrough that could contribute to the global transition to sustainable energy.

Kia's EV4 hatchback is nearing its debut after testing at the Nurburgring. It is part of Kia's new low-cost EV lineup, joining models like the EV3 and EV5. The EV4's design aims to symbolize innovation, with production starting next year. Kia is also facing production setbacks with its EV9 in the US due to EV tax credit concerns, despite strong sales and demand for its electrified lineup.