EV Daily | Tesla Shifts Focus to Cybercab Amidst Robotaxi Debate; Honda P7 Challenges Model Y

【Tesla】

Tesla's internal analysis indicated that the company's Robotaxi plans may be unprofitable and urged focusing on the affordable Model 2. Despite this, Elon Musk canceled plans for the Model 2 in favor of the Cybercab and cheaper variants of Model Y and Model 3. An internal debate at Tesla highlighted differing opinions on the Robotaxi project and its economic feasibility. Concerns about expanding the Robotaxi program to other markets and its profitability were raised. Furthermore, Tesla's sales in California have declined significantly, with registrations down by 15% in the first quarter of 2025. This drop is attributed to an aging product lineup and backlash against Musk's political initiatives. The new Model Y is expected to mitigate this decline, though current demand and order backlog for the redesigned vehicle remain uncertain.

【Others】

Lotus Technology Inc. is buying back a 51% stake from Geely, consolidating its operations under one brand. This reintegration aims to strengthen the Lotus brand's operational flexibility and financial synergies. The move follows Geely’s decision to exercise its Put Option, marking a critical transition for Lotus without Geely's support. Meanwhile, California's e-bike incentive program is relaunching, giving residents the chance to receive up to $2,000 off electric bicycles. The initiative aims to promote zero-emission transportation and has seen overwhelming demand, highlighting significant public interest in micromobility solutions. Genesis introduced its X Gran Equator concept, an ultra-luxe off-road vehicle with minimal screens, emphasizing outdoor exploration and driving experience. The debut of this concept car is part of the 2025 New York International Auto Show. Honda officially launched its P7 electric SUV featuring 469 hp and a range of over 650 km from an 89.8-kWh battery. The P7 shares mechanical similarities with Honda's S7 model, differing mainly in design elements like lighting. The P7's pricing positions it competitively against the Tesla Model Y. Kia unveiled its 2026 EV4 sedan, marking its first all-electric sedan globally. The EV4, featuring sleek design and advanced technology, will be available in three trims and offers a distinctive profile along with practical features. Waaree Energies plans to double its solar module manufacturing capacity in Texas due to potential tariffs, reinforcing its strategy to bolster its US footprint. The company’s expansion is part of a $1 billion investment to scale production to 5 GW by 2027.