BMW launches a new battery testing center, and a mysterious Tesla model appears on the test track | Overseas Daily
"Top 3 News"
Hyundai Is Not Afraid of Trump's Cancellation of Electric Vehicle Tax Credits and Plans to Continue Expanding in the US
Key Points:
Despite Trump's promise to cancel the $7,500 electric vehicle tax credit, Hyundai remains confident in its growth in the US market. The company recently opened a new $7.6 billion manufacturing plant in Georgia, aiming to gain a larger share in the US market. According to a report by Reuters earlier this month, Trump's transition team plans to cancel the $7,500 federal electric vehicle tax credit, which has led US automakers to prepare for a potentially significant impact. Although market leader Tesla is reportedly in support of this move, Hyundai, including Kia, is preparing for any outcome.
Hyundai's newly elected CEO Jose Munoz said at the Los Angeles Auto Show last week: "Hyundai's US investment plan is not based on incentives; the plan was made even before Trump's first term." He said in an interview with Korean media at the event: "If the Inflation Reduction Act fails, it will fail for everyone, and we can even do better." Although Hyundai's electric vehicles currently do not qualify for the full $7,500 tax credit, the company is still increasing its market share.
Hyundai opened its huge new $7.6 billion manufacturing plant in Georgia last month. The first vehicle off the production line is the new US-made 2025 Hyundai IONIQ 5. Last week, the company also launched its first three-row electric SUV, the IONIQ 9, which will also be produced in the same factory. However, until the battery cells are available next year, Hyundai's electric vehicles produced in the US are eligible for a partial $3,750 credit. Before that, Hyundai will offer a full $7,500 credit for leases. Hyundai is accelerating the production pace to remain competitive with its rivals in the most important market in the US. With Trump reportedly planning to cancel the subsidies, Hyundai's new CEO says the company will remain flexible.
Hyundai IONIQ 9 (Source: Electrek)
Opinions:
As the US is expected to shrink, the Chinese electric vehicle market continues to surge. China has become the first country to build more than 10 million new energy vehicles (electric vehicles and plug-in hybrid vehicles) in one year. Electric vehicle leaders like BYD are seeking overseas expansion to drive growth as a wave of low-cost competitors is hitting the Chinese market. With sales continuing to surge, BYD is quickly catching up with Ford in global deliveries. Munoz said: "China is a huge threat," but he believes Hyundai can compete with it with "technical strength" and "quality". Hyundai leaders explained: "When many consumers buy Chinese products, they realize that the quality may not be as good as other products." This is where Hyundai wants to "step up our game and provide the best quality while also providing the best service to customers". Hyundai, including Kia and Genesis, is second only to Ford and General Motors in US electric vehicle sales as of September. With the start of US production, Hyundai aims to consolidate its position in the US automotive market.
Tesla's Mysterious Model Appears on the Test Track at the Fremont Factory
Key Points:
Recently, some covered vehicles on the test track at Tesla's Fremont factory in California have attracted widespread attention from the outside world. These vehicles are tightly covered, and their unusual shapes have sparked speculation about the new models that Tesla may be testing. According to Electrek, these vehicles were captured by drones. Although they cannot be identified exactly, at least three or four different types of vehicles are covered. Tesla is currently developing three new models, including a design update for the Model Y, and two more economical models based on the Model 3 and Model Y. These new models are expected to be unveiled early next year.
Tesla Camouflaged Vehicle (Source: Electrek)
Opinions:
As a leading enterprise in the electric vehicle industry, Tesla's every product update and the launch of a new model will attract great attention from the market. Judging from Electrek's report, the secret vehicles on Tesla's test track at the Fremont factory undoubtedly increase people's curiosity and expectations for its future product line. First of all, Tesla's confidentiality work is done quite well, which not only increases the mystery but also creates topics and heat for its product launch. This approach is not uncommon in the automotive industry, but Tesla always seems to be able to attract the public's attention in a unique way.
Secondly, from the models mentioned in the report, Tesla seems to be further enriching its product line, especially by launching more economical models, which may be to meet the needs of different markets and consumers. With the increasingly fierce competition in the global electric vehicle market, Tesla needs to continuously innovate and adjust its product strategy to maintain its market leadership position. The discovery of these mysterious models also reflects Tesla's continuous investment in technological innovation. Whether it is the design update of the Model Y or the new models based on the Model 3 and Model Y, it indicates Tesla's efforts to improve product performance and reduce costs. This continuous technological innovation and product iteration is the key for Tesla to remain competitive in the electric vehicle field.
BYD Confirms the Launch of a New Generation of Blade Electric Vehicle Batteries Next Year, Promising Longer Range
Key Points:
BYD (Build Your Dreams) announced that it will launch a new generation of Blade electric vehicle batteries next year to support the higher performance requirements of its next-generation vehicles. Since BYD's battery division, FinDreams, first introduced the Blade battery in 2020, this advanced lithium iron phosphate (LFP) battery technology has helped BYD become one of the largest electric vehicle and battery manufacturers in the world. BYD is currently the second-largest battery and electric vehicle manufacturer in the world, after CATL and Tesla. BYD's batteries not only power its own brand of vehicles but also provide power for electric vehicles of other leading automakers such as Tesla, Toyota, Ford, Kia, and Hyundai. The chemical cost of lithium iron phosphate (LFP) batteries is lower than that of traditional lithium-ion batteries in the market, enabling BYD to launch ultra-low-cost electric vehicle models, such as the popular Seagull, which has a starting price of less than $10,000 (about 69,800 yuan) in China.
Although the Seagull is small in size, its Blade battery provides a CLTC range of up to 252 miles (405 kilometers). Next year, BYD will launch its new generation of Blade batteries to unlock a longer range for the upcoming electric vehicles. The new generation of batteries will be more compact, safe, and efficient. Cao Shuang, the general manager of BYD's Central Asia region, confirmed during an interview with Chinese media CGTN during COP29 that the new battery will be launched next year. Cao Shuang said that the new generation of Blade batteries will "enhance the driving range of our vehicles" and have a longer service life, suitable for various reuse scenarios. BYD is working with local partners to use these batteries in other applications, such as energy storage. Cao Shuang emphasized that despite the escalating geopolitical tensions, BYD's commitment is unwavering. Currently, BYD is the second-largest electric vehicle battery manufacturer in the world, with a market share of 16.4%, second only to China's CATL, which has a market share of 36.7%. While CATL has launched a variety of new batteries that offer longer range and faster charging speed, BYD hopes to change the market pattern with its new generation of Blade batteries to be launched next year.
BYD Seagull (Source: Electrek)
Opinions:
As a global leading electric vehicle and battery manufacturer, the launch of BYD's new generation of Blade batteries will undoubtedly further consolidate its position in the global electric vehicle market. With the intensification of competition in the electric vehicle market, BYD has demonstrated its deep strength in battery technology through technological innovation and cost control. The launch of the new generation of Blade batteries indicates that BYD has taken an important step in improving battery performance and reducing costs. This will not only bring a longer range to BYD's own electric vehicle products but may also have a profound impact on the entire electric vehicle industry. With the growing demand for long range and fast charging in the electric vehicle market, the high efficiency and safety of BYD's new generation of Blade batteries will become the key factors for it to win market share.
In addition, BYD's global partner network and market layout enable it to apply the new generation of Blade battery technology to a wider range of fields, such as energy storage, which will further expand BYD's business scope and market influence. Globally, this strategic move by BYD may attract more partners seeking high-performance battery solutions, thereby promoting BYD's further expansion in the global electric vehicle and battery market. In general, the launch of BYD's new generation of Blade batteries is not only a manifestation of BYD's technological innovation but also an important part of its global market strategy. With the growing global demand for sustainable energy solutions, BYD's new generation of Blade batteries are expected to become an important force driving the development of the electric vehicle industry.
"Big Events"
Kia's New Electric SUV EV5 GT Line Unveiled with a Starting Price of Less Than $30,000 in China
Kia Motors unveiled its new electric SUV, the 2025 Kia EV5 GT Line, at the 2024 Guangzhou Auto Show. This sporty electric vehicle is ready to compete in the Chinese market with a starting price of less than $30,000. Last summer, Kia first introduced the EV5 and claimed that it would "bring a new era of electric mobility to the compact SUV segment". This small electric SUV incorporates many advanced technologies and software from Kia's flagship electric vehicle, the EV9, but at a more affordable price. The EV5 has a body size of 4,615 mm in length, 1,875 mm in width, and 1,715 mm in height, directly competing with the Tesla Model Y (4,760 mm in length, 1,921 mm in width, and 1,624 mm in height).
Kia EV5 GT LINE (Source: Electrek)
Last November, Kia launched the EV5 in China with a starting price of only $21,000 (about 149,800 yuan), lower than popular models such as the Tesla Model Y. The EV5 is equipped with BYD Blade batteries, and the base model has a CLTC range of 329 miles (530 kilometers). The long-range version with an 88.1 kWh battery has a CLTC range of up to 447 miles (720 kilometers).
The GT Line version features a stylish all-black exterior design with 20-inch alloy wheels. The all-wheel drive powertrain has a maximum power of 316 horsepower (233 kilowatts), and the acceleration from 0 to 62 miles per hour (0 to 100 kilometers per hour) is about six seconds. Kia's new GT Line model has a CLTC range of up to 360 miles (580 kilometers) and supports fast charging, which can charge from 30% to 80% in just 27 minutes.
Fiat 500e Giorgio Armani Collector's Edition Unveiled in Los Angeles
At the 2024 Los Angeles Auto Show, Fiat introduced the limited-edition model - the 2025 Fiat 500e Giorgio Armani Collector's Edition - in collaboration with the fashion brand Giorgio Armani. This electric vehicle not only embodies the design essence of Made in Italy but is also the result of the collaboration between Fiat's design studio and Armani's designer team. The Fiat 500e Giorgio Armani Collector's Edition will be available in the first quarter of 2025, and the price will be announced later. This limited-edition model features a monochrome design that emphasizes Armani's aesthetic style. The most eye-catching is the custom wheels, which boldly display the GA logo. The vehicle is available in two exclusive colors: one is Armani's signature green, and the other is a ceramic taupe created by Armani.
Fiat 500e Giorgio Armani Version (Source: ElectricCarsReport)
In terms of the interior, inspired by Armani/Casa and the fashion collection, it showcases exquisite craftsmanship. The center of the seats features a herringbone stitch and a three-dimensional pattern, and the materials combine modern and handicraft methods. The car is also equipped with a laser-cut dashboard that provides a wood-grain appearance and a luxurious fabric touch, as well as delicate embroidery. This limited-edition model is also equipped with high-end configurations, including full LED headlights and taillights, a wireless charging pad, a 7-inch TFT display, and a 10.25-inch Uconnect 5 touchscreen that supports navigation and wireless CarPlay and Android Auto. The audio system is provided by JBL and includes four virtual venue sound effects selected by Maestro Andrea Bocelli, providing a virtual audio experience for listeners.
In terms of safety, the 500e Giorgio Armani Collector's Edition is equipped with the latest safety equipment, ADAS, and L2-level assisted driving technology, including seven airbags, an active lane management system, blind spot monitoring, etc. As the first all-electric vehicle in the same class to offer L2-level assisted driving technology, this feature of the Fiat 500e combines adaptive cruise control and lane keeping assist. The Fiat 500e Giorgio Armani Collector's Edition is equipped with a 42 kWh battery. The L2-level (11 kW) charging time is 4.5 hours, the acceleration from 0 to 30 miles is less than three seconds, and the comprehensive range can reach 149 miles. In addition, this car is also equipped with an 85 kW fast charging system. It can travel up to 31 miles with a 5-minute charge, and the charging time from 0 to 80% is about 35 minutes, and the L2-level charging time from 0 to 100% is 4.5 hours.
California Will Increase Electric Vehicle Rebates to Replace the Electric Vehicle Tax Credits Canceled by Trump
California Governor Gavin Newsom announced today that if Trump cancels the federal electric vehicle tax credit, California will offer a $7,500 state electric vehicle rebate to residents. Trump has repeatedly stated that if he wins the election, he will cancel the $7,500 electric vehicle tax credit for new vehicles and the $4,000 electric vehicle tax credit for used vehicles in Biden's Inflation Reduction Act. In response, Newsom proposed to restart a new version of the state's Clean Vehicle Rebate Program, which was launched in 2010 and gradually phased out in 2023. The program initially provided a $5,000