EV Daily | Tesla and Rivian Pivot Strategies Amidst Growing EV Market Competition

【Tesla】

Tesla is producing a new Model Y non-Launch Edition at Gigafactory Texas, offering it cheaper by removing bundled options. This launch aims to address demand issues with the Launch Edition. While orders for non-Launch Edition are open in other regions, they are yet to start in the US and Canada.

Tesla is set to launch "unsupervised full self-driving" as a paid ride-hailing service in Austin, Texas, this June, leveraging its internal fleet. This marks a pivot from previous promises of FSD capabilities for consumer vehicles, akin to Waymo's existing services but solely using cameras instead of lidar.

The Elon factor may significantly influence Tesla's US sales numbers this year, as market dynamics evolve with competitors like GM gaining ground. Tesla retains a 50% EV retail share in the US, though new models from other brands are gradually eroding its dominance.

Speculation suggests Tesla might introduce an affordable EREV Model 2, akin to the SGMW Wuling Hongguang, targeting middle America buyers. This move may align with Musk's ongoing strategic partnerships to expand Tesla's market reach globally.

【BYD】

BYD is advancing its new EV charging technology, rolling out ultra-fast 1,000 kW chargers across China. The company plans to install 4,000 chargers, with the first batch ready by early April to support new EV models like Han L and Tang L on the Super E-Platform. These chargers offer up to 400 km of range in just five minutes and showcase BYD's innovation leadership in EV charging technologies.

【Others】

GM's Chevrolet is the fastest-growing EV brand in the US, with models like Equinox, Blazer, and Silverado contributing to its market rise. GM's market share reached 12.5% by the second half of 2024, moving past Ford to become the second-largest EV seller after Tesla. The Equinox EV, considered America's most affordable long-range EV, offers competitive pricing with federal tax credits.

Rivian has spun off its micromobility business into a new startup, Also, Inc., focusing on lightweight electric vehicles. This move aims to capitalize on sustainable transportation needs with potential innovations in form factors and products. Rivian holds a minority stake in Also and expects collaborative opportunities in the future.

Hyundai's new EV plant in Georgia is operational, part of a $7.6 billion investment in the state, creating thousands of jobs and boosting local economy. The facility will manufacture EVs and hybrids under Hyundai, Kia, and Genesis brands, including the upcoming three-row IONIQ 9 SUV with a large battery capacity.

Nissan revealed the third-generation LEAF, transitioning from hatchback to crossover with increased range and new features. The LEAF will launch later this year alongside other new models in Nissan's lineup, including an adventure-focused SUV and luxury Infiniti SUV. The LEAF's transition reflects an evolution in Nissan's EV strategy to maintain competitiveness and appeal in the market.