Tesla's terrible week, Ford doubles down on hybrids, and Chinese EV companies innovate: Autos news roundup
Plus, Fisker and Canoo are having money problems, and BYD has been dethroned as the top EV seller worldwide
Tesla has had a interesting week. On one hand, Elon Musk’s electric vehicle maker drastically underperformed in terms of sales despite several efforts to turn things around, but, on the other hand, it regained its title of top EV seller after Chinese rival BYD reported a big quarter-over-quarter slowdown. But Tesla’s “nightmare” may continue, especially as Musk continues to court controversy online.
Meanwhile, EV startups Fisker and Canoo are struggling to survive in a market that’s experiencing diminished interest in electric cars. Other automakers, including BMW and EV startup Rivian, reported strong sales last quarter. Despite a solid performance, Ford Motor Co. is delaying its EV ambitions and diving headfirst into expanding its lineup of hybrid vehicles, a popular alternative to expensive electric cars.
And in China, smartphone maker Xiaomi is grappling with supersized demand for the SU7, its first-ever EV. BYD is also accelerating its steady launch of new models by revealing a “new energy” pickup truck.
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Ford Motor Co. Thursday said it would delay plans for new electric pickup three-row electric utility vehicles as demand for electric vehicles slows and hybrid sales surge.
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BYD plans to launch its first electric pickup truck later this year as China’s largest electric vehicle maker takes on global automakers, including Tesla and Ford Motor Co.
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Elon Musk is somewhat of a divisive person. The world’s third-richest person has been an outspoken critic of diversity, equity and inclusion initiatives (DEI), repeatedly stepped into legal trouble with U.S. federal regulators, and dabbled in election misinformation.
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Elon Musk’s Tesla disappointed investors and Wall Street when it reported a major decrease in electric vehicle sales and a more minor dip in production.
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The first week of April marks the end of the first quarter of the year and the start of the second. That means this week is the time that almost all major automakers — from Tesla to Ford Motor Co. to Stellantis — report their production and sales information for the past three months.
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Despite Tesla’s own poor performance in the first quarter of 2024, Elon Musk’s electric vehicle company has regained the title of top EV seller in the world.
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Tesla on Tuesday said it delivered 386,810 electric vehicles over the first three months of 2024, falling wildly short of Wall Street’s expectations.
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Tesla rival BYD reported strong sales in March as competition in the world’s largest auto market intensifies.
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Tesla is finally taking its driver assistance software out of its initial testing phase, just days before Elon Musk’s electric vehicle maker is expected to report weak deliveries for the first quarter of 2024.
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It can be hard for any company — especially automakers — to design, build, and produce an electric car that customers are interested in. But Xiaomi is off to a promising start with its new SU7, an electric sedan primed to compete with Tesla’s Model 3 and Porsche’s electric Taycan.
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Some might argue the entire point of the electric vehicle industry is to make the world a better place by cutting carbon emissions and fighting climate change. That’s what makes it so hilarious that the EV startup Canoo seems to have spent twice what it generated in revenue last year on the CEO’s private jet. — Lucas Ropek / Gizmodo
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Auto safety regulators have apparently opened a preliminary probe in the very troubled Fisker Ocean because of complaints the doors of the electric crossover sometimes don’t open when you want them to. This is less than ideal if you are familiar with the functionality of doors. Man, Fisker really cannot catch a break. — Andy Kalmowitz / Jalopnik
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Hybrids are becoming all the rage in the U.S. as the electric vehicle market suffers from slowed sales growth and automakers refocus their operations.