Nissan abandons the plan to launch a small electric SUV in the US, and Jaguar Land Rover claims that it is currently developing the Land Rover Defender EV | Overseas Daily
"Top 3 News"
Nissan Abandons Plan to Launch Rogue Sport-sized Small Electric SUV in the US
Key Points:
Nissan has made many changes in its electric vehicle business layout. Originally planned to start electric vehicle production at the Canton plant in Ohio this year, it has now been postponed again to at least 2028, and the $500 million investment plan announced in February 2022 has also been affected. At the same time, the plan to produce a small electric SUV similar in size to the Rogue Sport in the US has been cancelled, and the vehicle will be produced at the Sunderland plant in the UK. In addition, a Nissan spokesperson said that the company will focus on other projects with better sales at the Canton plant.
2025 Nissan Ariya Platinum+ e-4ORCE (Source: Nissan)
Opinions:
Nissan is in a difficult situation in the electric vehicle market. In the US market, its share has dropped to 5.8%, a decrease of 2.1% in the past five years. Last year, it only sold more than 31,000 electric vehicles, lagging behind competitors such as Honda, and the Ariya is facing competition from best-selling models such as the Tesla Model Y. The new wave of electric SUVs has intensified market competition. Globally, compared with leading companies such as BYD and Tesla, Nissan's market share is constantly declining, and it is at a disadvantage in the highly competitive electric SUV market. It urgently needs to reverse the situation through the next generation of electric vehicles such as the upcoming LEAF.
CATL Implies That Its Revenue Will Decline for the First Time in 2024, and Its Stock Price Drops
Key Points:
CATL, the world's largest manufacturer of electric vehicle batteries, has important performance and layout dynamics in 2024. It submitted an annual performance forecast to the Shenzhen Stock Exchange on Tuesday night, expecting its annual revenue to be between 356 billion and 366 billion yuan, a decrease of 11.20% - 8.71% compared to 2023, marking the first year-on-year decline in annual revenue, and the stock price dropped随之 on Wednesday. However, the net profit is expected to be between 49 billion and 53 billion yuan, an increase of 11.06% - 20.12% year-on-year, and the non-recurring profit after deducting the parent company's share is between 44 billion and 47 billion yuan, an increase of 9.75% - 17.23% year-on-year. Last year, CATL launched a series of new products and technologies, expanded cooperative relationships, and may also build a fourth battery factory in Europe.
CATL (Source: Electrek)
Opinions:
CATL is developing well. It firmly holds the position of the world's largest manufacturer of electric vehicle batteries with a 36.8% share in the first 11 months of 2024. Last month, it launched the "world's first ultra-safe" electric vehicle skateboard chassis and actively expanded the battery swap plan. Although the revenue is expected to decline, the net profit remains growing due to the enhancement of product competitiveness through technology research and development. It also has positive actions in market expansion. In the future, it is expected to rely on technological and market advantages to consolidate its important position in the industry. However, potential impacts such as stock price fluctuations caused by the decline in revenue need to be noted.
Elon Musk is the "Founder of Tesla", but He is Not the Driving Force Behind Tesla's Innovation
Key Points:
Tesla was officially founded by Martin Eberhard and Marc Tarpenning on July 1, 2003, with the goal of integrating electric vehicle manufacturing and technology research and development. The core technology development goals such as batteries, computer software, and proprietary motors set in the early stage have been used to this day.
Previously, the NuvoMedia company founded by the two made them notice the significant improvement of lithium-ion batteries. Out of concerns about climate change and oil imports, they decided to use electric vehicles powered by renewable energy to reduce emissions. The most important innovation of Tesla is the application of cylindrical lithium-ion batteries used in consumer electronics to electric vehicles, and this innovation predates Musk's involvement in Tesla. Although the court settlement agreement recognizes Musk as the "founder" of Tesla, he is not the main driver of innovation, but he still contributes to Tesla's success. At the same time, many people slander Musk, claiming that he is not the founder, but just buys other people's ideas to belittle his achievements.
Martin Eberhard (left) and Marc Tarpenning (right) (Source: Electrek)
Opinions:
The key to Tesla's success lies in taking advantage of the progress of lithium-ion batteries in the 1990s to produce uncompromising electric vehicles, and this core idea was put forward by the early founders. Although Musk is recognized as the "founder" and contributes to Tesla's success, he is not the main source of innovation. We should objectively view Musk's role in Tesla's development and not be misled by false statements. We should both affirm his contributions and clarify the root of Tesla's early innovations.
"Major Events"
Jaguar Land Rover Claims It Is Currently Developing and Testing the Land Rover Defender EV
Jaguar Land Rover confirms that it is developing an electric version of the Defender, but as the electric vehicle model requires a "significant evolution of the Defender", it may take some time before it can hit the road. In 2023, Range Rover, Defender, Discovery, and Jaguar each became an independent brand under Jaguar Land Rover. Jaguar Land Rover announced in 2021 a plan to launch six electric vehicles by 2026, including making Jaguar a fully electric brand, and each of Range Rover, Defender, and Discovery to launch at least one electric vehicle by the end of this decade.
Land Rover Defender (Source: Electrek)
In February last year, CEO Adrian Mardell admitted that the progress was slightly slower than expected three years ago. Currently, the company aims to launch four new electric vehicles. The Defender electric vehicle seems to be one of the models that will be delayed. Chief Commercial Officer Lennard Hoornik confirmed to Auto Magazine that developing an electric Defender SUV is more difficult than expected because it is difficult to find additional space to place the battery in the chassis of the existing "L663" model on the D7x platform. However, Jaguar Land Rover executives confirmed that the company is still committed to launching electric vehicles under each brand, including Range Rover, Defender, Discovery, and Jaguar.
In Europe, Electric Vehicle Sales Surpass Diesel Vehicles Again in 2024
In 2024, new car registrations in the EU increased slightly by 0.8% to approximately 10.6 million vehicles. Spain saw a growth of 7.1%, while France, Germany, and Italy experienced varying degrees of decline. In December, new car registrations in the EU increased by 5.1%, with Spain seeing a significant increase of 28.8%, France a slight increase of 1.5%, and Germany and Italy a decline. Battery electric vehicles remained the third most popular vehicle type in 2024, with a market share of 15.9% in December and 13.6% for the whole year, surpassing diesel vehicles. Gasoline vehicles accounted for 33.3% and ranked first, while hybrid vehicles accounted for 30.9% and ranked second.
Peugeot E-3008 (Source: Electrek)
In December, battery electric vehicle registrations decreased by 10.2%, mainly affected by significant declines in Germany and France, and the total market volume in 2024 decreased by 5.9% compared to 2023. Plug-in hybrid vehicle registrations increased by 4.9%, accounting for 8.3% in December, but the total volume in 2024 decreased by 6.8% compared to 2023. Hybrid vehicle registrations increased by 33.1%, and the market share rose to 33.6%. In December, gasoline vehicle registrations decreased by 1.8%, with declines in major markets except Spain, and the market share dropped to 29.6%. The diesel vehicle market decreased by 15%, with a market share of 9.8% in December, and most EU markets showed double-digit declines.
In the EU, Solar Energy Surpasses Coal, and Natural Gas Continues to Decline for the Fifth Consecutive Year
European Photovoltaic Layout (Source: Electrek)
According to the "European Electricity Review" released by the think tank Ember today, solar power generation accounted for 11% of the EU's electricity in 2024, surpassing coal power generation, which dropped to less than 10% for the first time. Natural gas power generation in the EU has continued to decline for the fifth consecutive year, and the total amount of fossil fuel power generation has dropped to an all-time low.
Dr. Chris Rosslowe, the senior analyst and lead author of the report, said that the grip of fossil fuels on the EU's energy is weakening, and wind and solar are pushing coal to the margins and forcing a structural decline in natural gas. The review provides a comprehensive overview of the EU electricity system in 2024, analyzing the annual power generation and demand data of the 27 EU countries to understand the progress of the transition from fossil fuels to clean electricity.
In the EU, wind and solar energy continue to develop rapidly. Solar power generation surpassed coal for the first time in 2024, and wind power generation exceeded natural gas for the second consecutive year. The strong growth of solar energy combined with the recovery of hydropower has made renewable energy account for nearly half (47%) of the EU's power generation. Fossil fuel power generation accounted for 29% in 2024, compared to 39% before the implementation of the Green Deal in 2019, and the share of renewable energy was 34%.
General Motors Recalls Chevrolet Equinox EV Again
Chevrolet Equinox EV (Source: Electrek)
The 2025 Chevrolet Equinox EV all-wheel drive (AWD) model is being recalled again due to a defect in the adaptive cruise control. General Motors (GM) sent a letter to the National Highway Traffic Safety Administration (NHTSA) on Wednesday, notifying the recall of some 2025 models. The reason is a software calibration error in the brake system control module (BSCM), which causes the adaptive cruise control function to not brake normally as designed, and the vehicle may not brake or decelerate as expected when this function is activated.
This recall only affects the 2025 Chevrolet Equinox EV AWD models that are not equipped with GM's Super Cruise. The front-wheel drive (FWD) and AWD models equipped with Super Cruise are not included in the recall. Last October, engineers reported that the test vehicle did not stop as expected. On November 8, GM launched an investigation and found the problem. GM dealers will update the software calibration for free, and the owner notification letters are expected to be sent on March 3, 2025.
"Cool Products"
BAC Mono
BAC Mono (Source: TopGear)
The British single-seat sports car BAC Mono has only one seat and two models, Mono and Mono R. It is built based on a carbon fiber cockpit, with the engine and transmission rear-mounted to drive the rear wheels.
BAC Mono (Source: TopGear)
In terms of power, the Mono initially equipped with a Ford 2.3-liter naturally aspirated four-cylinder engine, and later upgraded to a 2.5-liter, 305-horsepower engine. The Mono R increased the horsepower to 343 through internal upgrades, and the weight also