EV Daily | Tesla's Market Share Drops Below 50% as BYD and NIO Expand Globally with New Models and Partnerships
Tuesday, Aug 20, 2024 4:00 am ET
【Tesla】
Tesla's share of the US EV market fell below 50% in Q2 as new models emerged. Tesla held 49.7% of US EV sales during this period. Tesla is set to launch its long-delayed "smart summon" feature for vision-based vehicles, enabling cars to navigate parking lots autonomously. The update is expected to be integrated into Tesla's mobile app. The Tesla Cybertruck could potentially enter the Russia-Ukraine conflict after a Chechen leader equipped one with a machine gun.
【BYD】
BYD unveiled the 2025 Song Plus EV with several new features and design updates. The new model comes in three trims and offers ranges up to 376 miles. It is priced competitively starting at roughly $21,000, undercutting many electric and gas-powered rivals.BYD's new luxury brand, Yangwang, is launching the U9 electric supercar. The 1,200 hp vehicle, tested at Germany’s Nurburgring track, aims to challenge high-end brands like Ferrari and Lamborghini. The U9 comes with advanced technology and will begin deliveries soon, starting at around $233,000.
【NIO】
NIO is launching in the UAE, backed by a strategic partnership with the Abu Dhabi government. The company is establishing an online presence and preparing for market entry, aiming to expand its global footprint. The UAE initiative includes building a strong local network and promoting its battery swap technology.
【Others】
Hyundai, Kia, and Genesis have captured a significant share of the US EV market, reaching 10% combined through the first seven months of 2024. The Hyundai Motor Group is investing heavily in the US, including a new Metaplant in Georgia set to open later this year, which will help qualify their EVs for tax credits. The group has launched new models, including the Kia EV9 and Hyundai IONIQ 9, which are expected to drive further growth.Oakland, California, has become the first US school district to transition to a 100% electric bus fleet with V2G technology. The fleet, managed by Zum, will offer substantial environmental benefits and support the power grid.Chinese automaker Dongfeng launched the Nammi Box EV in Europe, one of the cheapest EVs on the continent at around $25,500. The vehicle aims to compete with low-cost models like the Citroen e-C3. Dongfeng may also open a plant in Italy to avoid EU tariffs.The McMurtry Speirling electric fan car, known for its speed, set new records at the Reverse Corkscrew Hillclimb in the US. The car, featuring 1,000 hp, dominated previous records held by traditional ICE vehicles.
Tesla's share of the US EV market fell below 50% in Q2 as new models emerged. Tesla held 49.7% of US EV sales during this period. Tesla is set to launch its long-delayed "smart summon" feature for vision-based vehicles, enabling cars to navigate parking lots autonomously. The update is expected to be integrated into Tesla's mobile app. The Tesla Cybertruck could potentially enter the Russia-Ukraine conflict after a Chechen leader equipped one with a machine gun.
【BYD】
BYD unveiled the 2025 Song Plus EV with several new features and design updates. The new model comes in three trims and offers ranges up to 376 miles. It is priced competitively starting at roughly $21,000, undercutting many electric and gas-powered rivals.BYD's new luxury brand, Yangwang, is launching the U9 electric supercar. The 1,200 hp vehicle, tested at Germany’s Nurburgring track, aims to challenge high-end brands like Ferrari and Lamborghini. The U9 comes with advanced technology and will begin deliveries soon, starting at around $233,000.
【NIO】
NIO is launching in the UAE, backed by a strategic partnership with the Abu Dhabi government. The company is establishing an online presence and preparing for market entry, aiming to expand its global footprint. The UAE initiative includes building a strong local network and promoting its battery swap technology.
【Others】
Hyundai, Kia, and Genesis have captured a significant share of the US EV market, reaching 10% combined through the first seven months of 2024. The Hyundai Motor Group is investing heavily in the US, including a new Metaplant in Georgia set to open later this year, which will help qualify their EVs for tax credits. The group has launched new models, including the Kia EV9 and Hyundai IONIQ 9, which are expected to drive further growth.Oakland, California, has become the first US school district to transition to a 100% electric bus fleet with V2G technology. The fleet, managed by Zum, will offer substantial environmental benefits and support the power grid.Chinese automaker Dongfeng launched the Nammi Box EV in Europe, one of the cheapest EVs on the continent at around $25,500. The vehicle aims to compete with low-cost models like the Citroen e-C3. Dongfeng may also open a plant in Italy to avoid EU tariffs.The McMurtry Speirling electric fan car, known for its speed, set new records at the Reverse Corkscrew Hillclimb in the US. The car, featuring 1,000 hp, dominated previous records held by traditional ICE vehicles.