BYD Wants To Supply Electric Car Components With Others, Partners With Toyota
BYD is hoping to weather the coronavirus storm by selling its EV components and technology to other companies. It is also partnering with Toyota for the Chinese market.
BYD is hoping to weather the coronavirus storm by selling its EV components and technology to other companies. It is also partnering with Toyota for the Chinese market.
BYD says its new lithium iron phosphate battery is much safer than conventional batteries and will not smoke or catch fire even in the worst possible conditions.
Wearing a mask to protect yourself from germs and air pollution is quite normal in East Asia. In China it is now even mandatory in a number of provinces when leaving the house. The coronavirus scare has made the public and the government even more conscious of the threat of infection.
With the Chinese electric vehicle (EV) market suffering from the general lockdown due to the coronavirus pandemic, sales took an expected beating, with only 15,000 passenger EVs registered in February, the worst result in over 3 years, representing a 65% drop year over year.
After the December sales peak, January signaled the expected sales hangover in China, but with some 49,000 passenger plug-in electric vehicles (PEVs), the numbers were worse than expected, as sales fell 50% year over year (YoY).
The Tesla Shanghai Model 3 jumped straight to the #1 spot in China’s battery electric vehicle production charts in January, according to figures released by MIIT. The 2,625 units put the Model 3 some 12.5% ahead of any rivals.
Tesla is in talks with battery producer CATL to supply lithium-iron-phosphate (LFP) cells for the Shanghai-made Tesla Model 3, according to a report by Reuters.
The coronavirus is knocking the Chinese electric car market for a loop, with some companies reporting a 50% decline in sales or more.
Funds based on third-party indices did very well and very poorly. Of the top seven performing funds, four were based solely on internal investment management decisions and didn’t start with third-party indices at all.
The Tesla Model 3 is the Usain Bolt of the electric vehicle market. It is far and away the most popular electric vehicle in the world. In fact, it had nearly 3× as many sales last year as the 2nd best selling electric vehicle (EV), and it accounted for ~4× as many sales as the 3rd best selling EV, the Nissan LEAF.