Tesla Cybertruck starts delivery in Canada, and BYD conducts a large-scale global recruitment. | Overseas Daily
"Top 3 News"
Tesla Starts Delivering Cybertruck in Canada as US Orders Clear
Key Points:
Tesla Inc. recently announced that with the clearance of US orders, the delivery of the Cybertruck electric pickup in Canada has officially begun. This highly anticipated electric pickup has delivered approximately 40,000 units since it started delivering in the US a year ago. Tesla stated that the Cybertruck has achieved a positive gross margin and has begun selling non-basic series versions of the electric pickup at a price of $80,000. Globally, Tesla once had up to 2 million reservations. However, after delivering approximately 40,000 units within a year, Tesla seems to have exhausted all orders in the US. Now, anyone can order the Cybertruck without a reservation and receive it within one to two weeks. Unlike the US market, the Cybertruck in the Canadian market is currently limited to the basic series, with a starting price of CAD 138,000. Considering that Canada itself is a limited automotive market and the high price of the Cybertruck, the expected sales volume will not be too large. Nevertheless, Tesla's configurator shows that even if reservations in Canada started in August, customers who place an order now can still pick up the vehicle within this month.
Tesla Cybertruck (Source: Tesla)
Opinions:
The delivery of the Tesla Cybertruck in Canada marks Tesla's further expansion of its electric pickup market globally. Although the orders in the US market have been digested, Tesla seems to be seeking new growth points. The opening of the Canadian market, although limited by the high price of the basic series, undoubtedly provides Tesla with a new sales channel and source of income. Tesla's pricing strategy in Canada shows its positioning in the high-end market. The high pricing of the basic series may limit sales volume, but it also reflects Tesla's confidence in the product and its insistence on brand value. As Tesla may shift to non-basic series this month, the expected price will be closer to CAD 100,000, which may stimulate market demand, although the growth may still be limited. For Tesla, the success of the Cybertruck is crucial because it is not only a new product but also a bold attempt by Tesla in the electric pickup field. Although Tesla once stated that the Cybertruck is expected to achieve an annual production target of 250,000 units, with the changes in the market and the intensification of competition, the realization of this goal seems to be increasingly challenging. Tesla needs to continue to innovate and adjust its product line to meet the changing market demand and maintain its leadership position in the electric vehicle field.
Volvo Cars' October Sales Report: Plug-in Models Account for 48%
Key Points:
Volvo Cars has released its global sales data for October 2024, selling a total of 61,686 vehicles, an increase of 3% compared to the same period last year. This growth is mainly due to the strong performance of electrified models in the European market. Despite a decline in sales in the US and Chinese markets, the performance of electrified models remains steady. The sales of Volvo Cars' electrified models (including pure electric and plug-in hybrid models) increased by 40% year-on-year, accounting for 48% of the total sales in October. Among them, pure electric models accounted for 22% of the total sales. The cumulative sales from January to October this year reached 622,608 units, an increase of 9% year-on-year.
Volvo EX90 (Source: Volvo)
In the European market, Volvo's sales reached 30,167 units in October, an increase of 21% year-on-year. The sales of electrified models increased by 46% year-on-year, accounting for 66% of the total sales in Europe in October. In the US market, although the sales in October decreased by 17%, the sales of electrified models increased by 18% year-on-year, among which the sales of plug-in hybrid models increased by 67%. In the Chinese market, Volvo's sales decreased by 10%, but the sales of electrified models increased by 23%. Volvo XC60 became the best-selling model in October, with a total of 19,846 units sold, followed by XC40/EX40 with a total sales of 14,088 units, and XC90 with 8,517 units sold. It can be seen from the data that Volvo's electrification transformation is steadily advancing, especially in the European market, where the market share of electrified models has significantly increased.
Opinions:
This sales report of Volvo Cars shows its positive progress in the electrification transformation in the global automotive market. With the growing global demand for reducing carbon emissions and promoting sustainable transportation solutions, Volvo Cars is adapting to this trend by strengthening the research and development and marketing of electrified models. Despite facing challenges in some markets, the growth in the sales of Volvo Cars' electrified models globally shows its competitiveness and market potential in the new energy vehicle field.
BYD's Record-breaking Performance Heats Up, Starts Expanding Hiring Scale
Key Points:
BYD has been recruiting a large number of employees in the past few months because its sales and profits have reached a new level. As the leader of Chinese electric vehicles, with the increasing development momentum, BYD has significantly increased its production and expanded its workforce to meet higher demand. In the third quarter, BYD's sales of new energy vehicles (pure electric and plug-in hybrid) reached a record 1.1 million units, and its net income soared to $1.6 billion (11.6 billion yuan), with revenue reaching $28.2 billion (201.1 billion yuan), all setting new quarterly records. This is also the first time that BYD's revenue has exceeded Tesla (Tesla's revenue in the third quarter was $25.47 billion), although BYD's data includes plug-in hybrid models and pure electric models.
BYD Conference (Source: BYD)
Opinions:
With the continuous strengthening of the sales momentum of automobiles in China and overseas, BYD is vigorously recruiting to promote expansion. According to He Zhiqi, Executive Vice President of BYD (via Reuters), the company hired nearly 200,000 new employees from August to October and also increased its production by nearly 200,000 units to meet higher demand. BYD continues to perform strongly as its sales and profits soar. Last month, the company's automobile sales exceeded 500,000 units for the first time, with 500,525 passenger vehicles sold in October, including 310,912 plug-in hybrid vehicles and 189,614 pure electric models. As of October, BYD's new energy vehicle sales exceeded 3.25 million units, including 1.87 million plug-in hybrid models.
"Big Events"
Joby Aviation Completes First International Air Taxi Flight in Japan with Toyota Cooperation
Joby Aviation, an electric vertical takeoff and landing (eVTOL) air taxi developer, has brought its aviation technology to Japan for the first time after receiving a $500 million investment from Toyota, demonstrating its sustainable flight capabilities to its business partners. This flight is Joby Aviation's first international demonstration in Japan, marking its further development in the eVTOL air travel field. Joby Aviation completed its first manned flight in October 2023 and showcased it in New York City, preparing for the full launch of eVTOL air taxi operations in 2025. Toyota Motor Corporation, as one of the early supporters, has invested hundreds of millions of dollars in Joby Aviation since joining the eVTOL field in 2019 and has dispatched dozens of engineers to work with the Joby team to support its design of the eVTOL factory and manufacturing process, preparing for large-scale production in the United States.
Joby Aviation eVTOL (Source: Electrek)
Last month, Toyota nearly doubled its investment in Joby Aviation, providing $500 million to help the company achieve certification and expand the production scale of its eVTOL air taxis. To strengthen the partnership, Joby brought its experimental eVTOL air taxi to Japan and conducted the first international demonstration flight over the Toyota Higashifuji Technical Center in Shizuoka Prefecture, with the beautiful Mount Fuji as the backdrop. In this flight, Joby Aviation completed the demonstration flight without a pilot, and the flight event was attended by executives from both companies, including Toyota Chairman Akio Toyoda. This marks the first international flight of an air taxi, demonstrating vertical takeoff and horizontal flight in Japan. Joby founder and CEO JoeBen Bevirt said that this overseas maiden flight is an important milestone in realizing the routinization of clean air travel.
Suzuki's First Mass-produced Pure Electric Model eVITARA Unveiled, Expected to Start Production in Spring 2025
Suzuki Pure Electric Model eVITARA (Source: Electriccarsreport)
Japanese automaker Suzuki globally premiered its first mass-produced pure electric model, the eVITARA, in Milan, Italy. The model is planned to start production in the spring of 2025 at the Suzuki Motor Gujarat factory in India and is expected to begin sales in multiple countries including Europe, India, and Japan in the summer of 2025. The eVITARA is based on the concept car eVX that was exhibited at the Indian Auto Expo in January 2023 and the Japan Mobility Show in October of the same year, marking the birth of Suzuki's first global strategic BEV (Battery Electric Vehicle) model. The eVITARA is designed with the concept of "Emotional Multi-Functional Cruiser", integrating an advanced technological and powerful design, providing an agile and sharp driving experience. The electric 4WD system ALLGRIP-e not only provides off-road capabilities but also offers strong performance, as well as the new platform HEARTECT-e specifically developed for BEVs.
Nissan e-POWER Vehicle Production Exceeds 1.5 Million Milestone
Nissan e-power (Source: Electrek)
Japanese automaker Nissan revealed that as of the end of October, the global cumulative production of its e-POWER vehicles has exceeded 1.5 million units. Currently, e-POWER vehicles are sold in 68 markets worldwide. e-POWER is a unique technology of Nissan that uses a small-capacity gasoline engine and a lithium-ion battery to power an electric motor, with only the electric motor driving the wheels, bringing the driving experience of an electric vehicle with strong power, rapid response acceleration performance, and quietness. Nissan first launched the Note model with e-POWER in Japan in 2016. Since then, this innovative power system has been applied to the Kicks, X-Trail SUV, and Serena minivan. In the fiscal year 2023, 42.6% of the vehicles sold by Nissan in Japan were e-POWER models. In China, the Sylphy e-POWER sedan began to be equipped with e-POWER technology in 2021, and now the X-Trail SUV also has it. In Europe, the e-POWER versions of the X-Trail and Qashqai SUVs were launched in 2022, and a total of more than 100,000 units have been sold as of January. Nissan plans to launch e-POWER in the US and Canada by the end of the fiscal year 2026. Nissan will continue to enhance the attractiveness and competitiveness of e-POWER to meet the wide range of needs of global customers.
Kia's Cheapest Electric Vehicle EV2 Testing
Kia EV2 (Source: Kia)
Kia is preparing to launch its most affordable electric vehicle to date. Before the official debut, Kia's cheapest electric vehicle, the EV2, was spotted undergoing testing in South Korea, and the new design features show that it looks like a small Hyundai Santa Fe. At Kia's first annual Electric Vehicle Day event last October, it showcased its new affordable electric vehicle product line, with the event focused on providing "electric vehicles for all" in its wide product line. Kia's compact electric SUV EV5 made its debut, while two new concept vehicles, the EV3 and EV4, were also displayed. Although the relevant concept was not shown at that time, Kia CEO Ho-Sung Song told Car Magazine that the company's cheapest electric vehicle has not yet been launched. Song Ho-Sung confirmed that Kia plans to launch the EV2 in Europe in 2026 with a starting price of approximately $28,000 (25,000 euros). In the local South Korean market, the EV2 price may be as low as $15,000 (20 million won). Before the official launch, Kia is publicly testing the EV2. Earlier this month, after the first photos of the EV2 appeared online, we got a glimpse of this new electric vehicle.
"Cool Products"
Audi RSQ8, as Audi's masterpiece in the high-performance SUV field, is equipped with the same 4.0-liter twin-turbocharged V8 gasoline engine as the RS6, with a maximum power of 592 horsepower and a peak torque of 590 pound-feet. It only takes 3.8 seconds to accelerate from 0 to 62 miles (100 kilometers) per hour, 13.7 seconds to accelerate from 0 to 124 miles (200 kilometers) per hour, and the maximum speed limit is 155 miles (