EV Daily | Tesla Faces Challenges Amid Stock Decline; BYD and Hyundai Unveil New EV Innovations

【Tesla】

Elon Musk urged Tesla employees and the public to retain TSLA stocks despite a significant stock drop and insider sales. During a live-streamed all-hands meeting, Musk repeated optimistic forecasts about Tesla's future, although executives have recently sold shares. Tesla has faced a 40% stock decline this year, expecting its worst quarter in three years. Tesla vehicles in Las Vegas and Kansas City were destroyed, suspected by arson, while vandalism in Canada damaged over 80 cars. Tesla's used car prices are decreasing rapidly, and the company is offering 0% interest on new Model Y in China, indicating weak demand. Tesla is being investigated in Canada for possibly filing rebates before delivering cars. Additionally, Tesla recalled Cybertrucks due to trim issues.

【BYD】

BYD is gearing up to introduce its new 1,000V 'Super E-Platform', enabling fast charging of 400km in just 5 minutes. The company also plans to launch its most affordable EV in Europe with new enhancements and a fresh name.

【Others】

Hyundai's IONIQ 5 is receiving significant updates for 2025, including an increased range of up to 318 miles, design refreshes, and a charging port compatible with Tesla Superchargers. The limited-edition Gold Matte IONIQ 5 Disney100 Platinum Edition, a collaborative project with Walt Disney Imagineering, is available with leasing options as low as $199 per month.

California has achieved a significant milestone in EV infrastructure, with 178,549 public and shared private EV chargers, surpassing the number of gas nozzles. The state recently added almost 38,000 new chargers, with plans for further expansion using a $1.4 billion investment plan.

Cadillac plans to transition its CT4 and CT5 sedans to electric versions, following sales declines in their ICE models. The shift aligns with Cadillac's successful EV strategy, highlighted by the Lyriq SUV's sales growth. Future EV sedans are expected to use the 'BEV Prime' platform and may feature a fastback design.

The 2025 Chevy Blazer EV SS, boasting 615 horsepower and 650 lb-ft of torque, is now available for order. It is the fastest SS model Chevrolet has produced, with a range of over 300 miles. The Blazer EV lineup includes several trims, all qualifying for a $7,500 federal tax credit. Additionally, GM is offering competitive deals on 2024 models with 0% APR for 60 months and attractive lease options.