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EV Daily | Tesla Shifts to Celebrity Endorsements Amid Model Y's Success in Korea

AInvestSaturday, Nov 2, 2024 8:00 am ET
2min read
【Tesla】

Tesla has employed its first paid celebrity ambassador, Olympic shooter Kim Ye-ji, in Korea, marking a strategic shift from Elon Musk's previous stance against celebrity endorsements. This change aligns with Tesla's recent advertising efforts, potentially driven by Musk's acquisition of Twitter. The Model Y has become the best-selling imported vehicle in Korea despite the market's preference for domestic brands, indicating Tesla's growing influence. Tesla's new roadmap for self-driving includes updates, but some test drivers report dangerous scenarios during testing, raising safety concerns. The Model Y's price in China is compared with NIO's Onvo L60, highlighting competitive dynamics in the electric SUV market. Tesla's self-driving development has been criticized for potentially compromising safety, and the company faces competition from Waymo in autonomous tech. Tesla has updated its self-driving roadmap but faces scrutiny over safety practices. Test drivers report risky testing scenarios, raising concerns about Tesla's approach to developing autonomous technology. The company prioritizes data collection, sometimes at the risk of safety, to advance self-driving software.

【NIO】

NIO's Onvo L60 electric SUV has been launched, rivaling Tesla's Model Y with a competitive price and range. NIO's Onvo brand contributed significantly to the company's October sales, reaching 20,976 units. NIO plans to expand its Onvo brand with more models, aiming for growth in the electric SUV market. The Onvo L60 offers better energy consumption and interior space than the Model Y, with a starting price of around $21,200 for the battery rental option.

【BYD】

BYD achieved a record 500,525 NEV sales in October, with significant growth in PHEVs and EVs. The Ocean series and other brands contributed to this success. BYD is expanding its vehicle lineup and targeting overseas markets with new plants in regions like Thailand and Mexico. Despite surpassing Tesla in revenue, BYD's EV sales in Q3 were slightly lower than Tesla's. The company's overseas sales are expected to rise with new plant openings.

【Others】

Waymo's valuation rose to $45 billion following a $5.6 billion capital infusion. The company plans to expand its robotaxi service into new markets and has begun fully autonomous operations in some US cities. Kia set an October sales record in the US, fueled by strong demand for its electric vehicles. The EV6 and EV9 models have shown impressive sales growth, with the EV9 expected to qualify for a federal tax credit next year. Hyundai's IONIQ 5 set a new sales record in the US, contributing to the brand's highest-ever October performance. The 2025 IONIQ 5 will be produced at Hyundai's Georgia facility, with tax credits expected. Hyundai teased its upcoming IONIQ 9, a large electric SUV. Polestar's US-made Polestar 3 electric SUV is now being delivered. It joins the Polestar 2 and 4 in expanding the brand's lineup. The Polestar 3 is expected to play a key role in the North American market. Lectric, MOD, and Aventon are offering Black Friday discounts on e-bikes, with various models available at reduced prices. Customers can save significantly on select e-bike bundles and battery options. General Motors' BrightDrop electric vans are being added to Walmart's delivery fleet, expanding the scope of its in-home delivery program. The vans use GM's Ultium battery platform and have a range of 272 miles. Enbridge is advancing with the Sequoia solar project in Texas, which will become one of North America's largest solar farms. It has secured power purchase agreements with AT&T and Toyota, aligning with Toyota's sustainability goals. Dominion Energy's Coastal Virginia Offshore Wind project reached a milestone with the installation of 78 monopile foundations, progressing toward its 2026 completion. The project will generate enough clean energy to power up to 660,000 homes.
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