Tesla officially launches the refreshed Model Y in North America and Europe, and Hyundai and General Motors will collaborate on electric vehicle business in the US. | Overseas Daily
"Top 3 News"
Tesla Officially Launches Updated Model Y in North America and Europe
Key Points:
After Tesla launched the new Model Y in China earlier this month, it has now officially released it in North America and Europe. The uniqueness of this launch is that it accepts orders for both the new and old models. In North America and Europe, only the online configurator adds a "decoration" option for the "Launch Series New Model Y" (the version that was first launched in China), while in China, only the new version is sold.
Tesla Model Y US Official Website (Source: Electrek)
The EPA range of the new Model Y has increased to 320 miles, higher than the 311 miles of the old Long Range All-Wheel Drive version. There are upgrades in many aspects such as the starting price, interior, seats, etc. For example, the starting price has increased, the interior has added ambient lights, the seat functions have increased, and it is also equipped with the second-generation suspension and noise reduction hardware. The new Long Range All-Wheel Drive Launch Series is priced at $59,999, $12,000 more expensive than the old version, and buyers can also get a special badge.
Opinions:
Tesla's strategy of selling both the new and old Model Y is unique, aiming to meet the needs of different consumers. It attracts price-sensitive consumers with the price advantage of the old model and attracts consumers who pursue new experiences with the upgraded configuration of the new model, thereby expanding its market share. The significant configuration upgrade of the new model shows its determination to enhance its competitiveness and is expected to maintain its leading position in the highly competitive electric vehicle market. However, the higher price may affect the purchasing decisions of some consumers, and its market performance remains to be observed.
Rivian Plans to Achieve Hands-Free Autonomous Driving This Year and Launch the "Eyes-Free" System in 2026
Key Points:
Rivian revealed at the opening event of the new Rivian Space in San Francisco on Thursday that it plans to launch a new advanced driver assistance system (ADAS) that enables hands-free driving this year, similar to Tesla's Full Self-Driving (FSD), and to launch the "eyes-free" system in 2026. Whether existing Rivian R1S and R1T owners can use the new system is related to the model generation. Those produced in 2024 and before are the first generation, and those produced in 2025 and later are the second generation.
The second-generation R1S and R1T launched last summer have been comprehensively upgraded, introducing the self-developed Rivian Autonomy Platform, driven by 11 cameras, 5 radars, and predictive artificial intelligence, with strong performance. It already has functions such as blind spot monitoring, and more functions will be gradually launched. All R1S and R1T support OTA updates, but some functions of the first-generation models cannot be used due to hardware and software limitations. The hands-free and attention-free autonomous highway driving function will be applied to the R2 small electric SUV, which will be launched in the first half of 2026 with a starting price of about $45,000.
Rivian SUV (Source: Electrek)
Opinions:
Rivian's active layout in the field of autonomous driving reflects its determination to keep up with the technological development trend of the industry and enhance the competitiveness of its products. The hands-free driving similar to FSD and the "eyes-free" system are expected to attract consumers with a high demand for autonomous driving functions and expand the market share. However, the "eyes-free" system may face regulatory obstacles before its launch, and it is uncertain whether its functions can be successfully realized and how the market will accept it. Moreover, the functional upgrade of the first-generation models is limited, which may affect the experience and loyalty of some old users. From the perspective of the entire electric vehicle market, the development of Rivian's autonomous driving technology will intensify industry competition and promote continuous innovation and progress in technology.
Hyundai and General Motors Will Collaborate on Electric Vehicle Business in the US
Key Points:
Hyundai, a best-selling electric vehicle brand in the US, and General Motors are joining hands to deal with the uncertain market in 2025. On Thursday, Hyundai confirmed that the deal with General Motors is close to being reached, which involves the rebranding of electric vehicle models. After announcing the fourth-quarter earnings report for 2024, Hyundai confirmed that it is about to reach an agreement to sell commercial electric vehicles to General Motors, which will help Hyundai enter the North American commercial vehicle market. Behind the cooperation is the instability of US policies. After Trump took office, the "mandatory regulations" for electric vehicles were cancelled, threatening to cancel the $7,500 federal tax credit, and also considering imposing tariffs on Canada and Mexico. Although Hyundai said that the policy changes have a smaller impact on its sales than its Japanese competitors.
Hyundai Ioniq 5 (Source: Electrek)
In October last year, Hyundai's $7.6 billion electric vehicle factory in Georgia started production. However, last week, the US Department of Energy cancelled the tax credit eligibility for some of its models. Hyundai plans to expand production and increase the production of hybrid vehicles. The two sides signed a memorandum of understanding in September last year, planning to cooperate in areas such as powertrains, and will sign a binding contract in the first quarter of 2025.
In addition, it is reported that the two sides are discussing jointly developing pickups, and Hyundai's ST1 electric commercial vehicle platform may become the basis for General Motors' commercial electric vehicles. Hyundai's retail sales in the US have reached new highs for four consecutive years. Last year, Hyundai Motor Group's electric vehicle sales exceeded those of General Motors and Ford, while General Motors' Brightdrop commercial electric van sales are far lower than Ford E - Transit and Rivian EDV.
Opinions:
The cooperation between Hyundai and General Motors is a win-win situation. For Hyundai, supplying rebranded commercial electric vehicles to General Motors opens up a reliable sales channel for models such as ST1, which is conducive to expanding the US market and solving the problem that it is difficult to directly sell to US commercial fleet buyers. For General Motors, using Hyundai's products can enhance its competitiveness in the commercial electric vehicle field and improve the poor sales situation. From the market perspective, this cooperation reflects the trend of automakers reducing risks and seeking development through cooperation when policies are unclear. At the same time, it will also intensify the competition in the US electric vehicle market and promote the progress of industry technology and products.
"Big Events"
Kia Owners in the US to Obtain Access to Tesla Supercharging Stations
Kia Electric SUV (Source: Electrek)
Kia owners were originally scheduled to obtain the right to use Tesla Supercharging Stations on January 15, but it was not realized due to the delay of the timeline. Previously, some owners took advantage of the similarity that Hyundai and Kia electric vehicles are based on the same E - GMP platform and that the 2025 EV6 and the 2025 Ioniq 5 are both equipped with the native NACS port. They charged at the supercharging station by setting the vehicle information as Hyundai and using a third-party adapter, but now this loophole has been closed.
The North American electric vehicle industry is transitioning to the NACS charging standard promoted by Tesla and standardized by SAE. Recently, several brands have joined the "soon to be connected" list. Volkswagen and Honda have also announced that they will soon obtain access rights, while Kia's Supercharging Station access service, which was originally planned to be launched on January 15, has been postponed to later this quarter. This shows that in the process of the North American electric vehicle industry's transition to the NACS charging standard, the twists and turns of Kia's plan to access Tesla Supercharging Stations reflect the complexity of the industry in the process of technical docking and standard unification. Although more and more brands are joining, there are still many challenges and adjustments at the practical operation level.
Jaguar Land Rover Invests $2 Million in Rare Earth Magnet Recycling
Rare Earth Magnet (Source: Electrek)
Jaguar Land Rover's investment department, InMotion Ventures, has invested $2 million in the rare earth magnet recycling company Cyclic Materials, bringing the latter's Series B financing to $55 million. Previously, InMotion Ventures has already made layouts in technical fields such as supply chain traceability, and this time it has entered the field of rare earth magnet recycling. Its managing director, Mike Smeed, said that Cyclic Materials is leading in creating a sustainable supply chain, and its technology meets the critical needs of rare earth magnet recycling, helping the automotive industry move towards a cleaner and more resilient future.
Cyclic Materials will use this investment to accelerate its business expansion in North America and Europe, improve processing capacity and optimize recycling technology. This financing is based on the previous $53 million financing supported by BMW, Microsoft and Hitachi. Rare earth magnets are made of rare earth element alloys and are crucial in many fields such as electric vehicle traction motors. Currently, the recovery rate of rare earth elements is less than 1%, but the global demand exceeds the supply and is expected to triple by 2030. Cyclic Materials uses its proprietary MagCycle and REEPure technologies to recover rare earth elements from end-of-life products and establish a circular supply chain. Jaguar Land Rover's investment reflects the automotive industry's emphasis on solving the problem of rare earth magnet recycling, which helps to alleviate the contradiction between resource supply and demand and promote the sustainable development of the automotive industry. It also reflects the trend of enterprises improving the industrial chain and enhancing competitiveness by investing in related technologies in the context of the rapid development of new energy vehicles.
Nissan Plans to Provide Batteries for Approximately 300,000 Electric Vehicles in the US
Nissan Ariya (Source: Electrek)
Nissan's actions in the electric vehicle business are continuous and complex. Nearly three years ago, Nissan planned to invest $500 million in the Canton factory in Mississippi to produce new electric vehicles. Originally, production was supposed to start this year, but due to concerns about profitability and market demand, the time was postponed to 2026 in January last year. Now, according to the Madison County Journal, it has been postponed to 2028. Moreover, Automotive News said that Nissan has also cancelled the plan to produce a small electric SUV positioned between the Leaf and Ariya in the US, and instead focuses on projects with greater demand and more profitability.
However, Nissan is still actively making layouts. It plans to purchase 20 kWh batteries from SK On, which is enough to power approximately 300,000 electric vehicles sold in the US. It is also expanding the US supply chain to prepare for future electric vehicles. This series of operations reflects Nissan's difficult balance between market demand, profitability and strategic planning. It also shows that the current electric vehicle market is highly competitive, and automakers need to make cautious decisions and constantly adjust strategies, indicating that the future development of the electric vehicle market is full of uncertainties.
Tesla Announces a Significant Price Increase for All Electric Vehicles in Canada
Tesla has announced a significant price increase for all its models in Canada due to the cancellation of the Canadian electric vehicle subsidy policy and the weakness of the Canadian dollar. The Canadian electric vehicle market is already facing difficulties due to the cancellation of the federal subsidy program, and the subsidy program in Quebec, which has the largest subsidy and makes the province a leading area for the popularization of electric vehicles in Canada, is also facing the same situation.
Tesla (Source: Electrek)
As a leading brand in electric vehicle sales in Canada, Tesla has announced a price increase for all its models. The Model 3 Long Range Rear-Wheel Drive version has increased by CAD 4,000, the Long Range All-Wheel Drive version has increased by CAD 8,000, and the Performance version has increased by CAD 9,000. The Model Y, Model S and Model X have all increased by CAD 4,000. However, those who purchase a new Model Y, Model S or Model X using a referral code can still enjoy a CAD 1,300 discount.
Tesla never comments on price changes. It is speculated that the depreciation of the Canadian dollar against the US dollar in the past few months is one of the reasons for the price increase, and the timing of the announcement of the price increase on February 1 has led some to link it to the tariff war that President Trump hinted at launching against Canada. Trump said he plans to impose a 25% tariff on Canadian imports, and Canada has also said it will take retaliatory measures. This is obviously unfavorable to the Canadian electric vehicle market. The cancellation of the subsidy has already impacted the market, and now the base price of the most popular Tesla electric vehicle in the country has increased before the subsidy. The situation of the Canadian electric vehicle market is severe this year. It is hoped that the situation will stabilize and become more clear after the tariff war really starts.
