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EV Wars, Breakthroughs and BYD to Overtake Tesla. Read why global BEV sales are expected to reach 10 million at the end of 2024 >> https://lnkd.in/gHfG_kqq In the second quarter, BYD’s BEV sales surged nearly 21% year-on-year to 426,039 units. Meanwhile, Tesla’s deliveries dropped 4.8% to 443,956 vehicles, according to CNBC's calculations. #tesla #byd #electricvehicles #carbonpricing #carbonscapture #carbonoffsets #carboncredits #carbonmarkets #carbonnews #carbonprices #ccs #ccus #cdr #climatechange #cleanenergy #decarbonization #emissionsreduction #energytransition #esg #greenhydrogen #netzero

Chinese electric vehicle manufacturer BYD is on track to overtake Tesla in battery EV sales this year, according to a recent report by Counterpoint Research. BYD's second-quarter battery EV sales surged nearly 21% year-on-year to 426,039 units, while Tesla's deliveries dropped by 4.8% to 443,956 vehicles. Despite BYD surpassing Tesla in total production last year, Tesla maintained its position as the top BEV producer in the first quarter of 2024. The report highlights the dynamic nature of the global EV market, with China emerging as a dominant force led by BYD. China's BEV sales are projected to be four times those of North America in 2024. However, new EU tariffs on Chinese EVs, set to be implemented from July 4, might push Chinese automakers towards emerging markets such as the Middle East, Africa, Latin America, Southeast Asia, Australia, and New Zealand. Global BEV sales are expected to reach 10 million in 2024, driven by efforts to improve cost-efficiency and affordability for EVs and EV batteries. This shift signifies a significant move towards sustainability and green energy worldwide. #BYD #Tesla #EV #ElectricVehicles #TechNews #AutoNews #China #BEV #Sustainability #GreenEnergy

First, they said #EV #battery ranges were too short. They they tripled, and still growing. https://lnkd.in/eWa9uhBc Then they said grids can’t handle all these EVs, or work in the cold. And 🇳🇴 Norway laughed. https://lnkd.in/eMAveb6B. Then it was “EVs are too expensive”, even though they save owners over 50% in fuel costs and their purchase prices are rapidly coming down as competition scales up. “Cheap electric vehicles from 🇨🇳 China are already pushing into Europe, undercutting one of the region’s biggest industries. BYD, which overtook Tesla late last year as the biggest global EV maker, is about to raise the stakes. The Chinese manufacturer announced plans last month to bring its Seagull hatchback to Europe next year. The car offers premium features like a rotating touch screen and wireless phone charging and sells for less than $10,000 in China. Even after tariffs and modifications to meet European standards, BYD executives expect to sell the Seagull for less than €20,000 ($21,500) on the continent.” https://lnkd.in/eaNr3hn2

A new report reveals that Chinese EV giant BYD is on track to surpass Tesla as the world’s leading producer of battery electric vehicles (BEVs) in 2024. BYD’s recent surge in BEV sales, jumping nearly 21% year-on-year in Q2, is a key factor in this anticipated shift. Last year, BYD outpaced Tesla in total vehicle production, including hybrids, but Tesla maintained its lead in BEV production. Now, the tables are turning as BYD’s market share climbs. China continues to dominate the BEV market, with sales expected to be four times those of North America’s in 2024 and maintaining more than 50% of global BEV sales until 2027. However, the European Union's new tariffs on Chinese EVs, including BYD, could reshape market dynamics. These tariffs, set to take effect from July 4, might drive Chinese automakers to focus more on emerging markets. With global BEV sales projected to hit 10 million in 2024, the race between BYD and Tesla highlights the rapidly evolving nature of the EV industry. #BYD_EV #BYD_Seagull #BYD_Denza_Z9_GT

"[E]xperts warn that even if China’s automakers were confined to their home turf behind a wall of tariff protections, they would still be able to compete with US and European manufacturers on price. A key cost advantage for BYD, the company which industry leaders acknowledge poses the biggest threat, comes from its expertise in producing lithium-based batteries, the most expensive single part of an EV. The group, which evolved from a cell phone battery maker in the 1990s and 2000s, has become a world leader in the field. According to Bernstein research, BYD batteries are among the lowest cost in the world while also boasting close to the highest energy density, which results in better performance in the cars. Tesla and Toyota are customers of BYD’s battery division. That has helped it undercut its western rivals." European politics put European companies into this dead end and only European politics can pull out of it. The only radical decision that can be made is to support alternative technology to BEVs, namely: synthetic fuels, hydrogen or hydrogen powered ICEs. “We’re quickly approaching a make-or-break moment . . . I wonder if that trade-off is being thoroughly considered in a lot of capitals.” #green #cars #automotive #EV #battery #greenenergy #energy #transition

Cheap electric vehicles from China are already pushing into Europe, undercutting one of the region's biggest industries. BYD, which overtook Tesla last year to become the biggest global EV maker, is about to raise the stakes. The Chinese manufacturer last month announced plans to introduce its sub-$10,000 Seagull hatchback in Europe next year, offering features such as cruise control and wireless phone charging normally seen on much more expensive vehicles. Even after tariffs and modifications to meet European standards, BYD executives have pledged to sell the Seagull for less than €20,000 ($21,500). That would price the four-seater below electric rivals that Stellantis, Renault and others are counting on to help them bridge the energy transition. https://lnkd.in/eE7p-bZ3

—Cheaper than Gasoline— Now BYD Qin Plus DM-i sedan starts at the equivalent of $11,090-cheaper than some equivalent gasoline-powered cars (read below from today’s TheWallStreetJournal). The models are plug-in hybrids, which are usually cheaper than pure EVs due to smaller batteries. Is this the beginning of a price war? How you gonna survive in this bloody situation ? Quoting the WSJ below: —After years of explosive growth—1 in 3 cars sold in China is an EV-the market is starting to slow. In January, sales of new-en-ergy vehicles including plug-in hybrids fell 39% from the previous month-although that marks a 79% rise from a year earlier— #EnergyTransition #EVs #Battery #Mobility #OOTT #OilPrice #BYD #Europe #China

EV's are making great strides in the charging network challenges but are they affordable? #engineering #packaging #metalforming #automotive #automotiveindustry #diecutting #oem #oems #processautomation #manufacturingindustry #rubberindustry #oilandgas #oilandgasindustry #transportation #industrial #cnc #mining #agriculture #robotics #roboticsengineering

Seagull by BYD seems to be an inexpensive and well-built EV. A clarion call for US auto industry. BYD seems to have introduced a lot of efficiencies in auto manufacturing to reduce the weight of this vehicle and make it run farther on a smaller battery compared to even high-end EVs. https://lnkd.in/gqyy7hds

EV enthusiasts, the global EV landscape is shifting as China's premier EV manufacturer, BYD, is set to surpass Tesla in battery electric vehicle (BEV) sales by 2024, according to Visual Capitalist. In 2023, the top 10 BEV companies accounted for 65% of the market, with Tesla leading at a 19.9% share, closely followed by BYD at 17.1%. BYD's strong domestic performance and expanding international presence, including plans to establish factories in Europe to circumvent EU tariffs, have supported its ascendance. The final quarter of 2023 saw BYD outpacing Tesla, selling 526,000 vehicles compared to Tesla's 485,000, indicating a strong momentum that could see the Chinese automaker taking the lead. Other notable companies in the 2023 BEV market share rankings include GAC Aion, SAIC-GM-Wuling, and Volkswagen, showcasing the diversity and competitiveness within the sector. Despite a growth rate of 29.8% in global EV sales in 2023, this represents a slowdown from the 54.2% increase in 2022. This shift underscores the dynamic nature of the EV market, highlighting the growing influence of Chinese automakers and the intensifying competition across the industry. Stay informed with access to more than 750 other valuable EV Market Reports, and monitor 750,000 European Charge Points via www.EVMarketsReports.com, the world's largest e-Mobility Reports and Outlooks database. #evsales #evadoption #electriccar GiPA