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AD #3945 - UK Backs Off EV Mandate; BYD Could Slash Prices Even More; The Fastest Charging EVs

AD #3945 - UK Backs Off EV Mandate; BYD Could Slash Prices Even More; The Fastest Charging EVs

Autoline Daily Nov 27, 2024 10 min
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About this episode

The episode explores the intensifying price war in China's EV market, highlighting BYD's potential further price cuts and Tesla's aggressive pricing strategies. It discusses Chinese automakers like Cherry challenging established brands such as Jaguar Land Rover and the decline of Japanese automakers' market share in Southeast Asia. The show also covers EV charging speeds, Volkswagen's extended partnership in China, and the UK's retreat from strict EV sales mandates amid industry pushback. Additional topics include advancements in automotive lighting, sustainable seat foam innovations by JLR, and Aston Martin's financial challenges and electrification plans.

Topics: china ev price war byd price cuts tesla china pricing chinese automakers vs legacy brands japanese automakers market share decline ev charging speeds volkswagen china partnership uk ev sales mandate changes automotive lighting innovation sustainable seat materials
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Speaker 1: This is out Aligned Daily, the show dedicated to enthusiasts of the global automotive industry. Just when we thought the
price war was starting the level off in China, it looks like BYD is getting ready to slash prices even further.
A leaked document on social media shows that the automaker is demanding a ten percent price cut from one of its suppliers. BYD already cut prices once this year, and
if it cuts them again, it's going to put enormous financial pressure on all automakers selling cars in China. But
Tesla seems to be getting out ahead of BYD's move.
It cut the price of the Model Y in China by nearly fourteen hundred dollars and is offering zero percent loans for five years. The price of a Model Y
rear wheel drive is now down to thirty three grand in China compared to thirty nine thousand dollars in the US.
And Tesla isn't the only one. A joint venture between
Huawei and Cherry just cut the price of the S seven, which has porscha Ish styling, up to four thousand dollars because the car was a flop when it debuted. Price
is now range from just under thirty two thousand up to forty four grand, which sounds like quite a bargain because the S seven has some pretty impressive specs, with four hundred and eighty five horse power and five hundred and thirty one miles of range. Even so, it's interesting
that a car with lots of power, fantastic range, and Porsche ish styling isn't selling very well. And speaking of
Chinese automakers, Jaguar land Rover must be wondering why it formed a joint venture with Cherry. The Chinese automaker is
now moving into the UK market with gaslin and plug in hybrid SUVs that are similar in size and profile to land Rovers, but at much lower prices and with higher levels of technology. Cherri's JQU seven suv is about
the same size as the land Rover Evoke, but at thirty seven thousand dollars, it's more than eighteen grand cheaper, and we bet that land Rover isn't very happy about having to compete against its own joint venture partner. But
it's the Japanese automakers who are really losing out to the Chinese, especially in Southeast Asia. In markets Like Indonesia, Malaysia,
Thailand and Singapore, Japanese automakers are getting clobbered. The Greater
Asian region accounts for about three point three million new vehicles a year, and up until now, the Japanese automakers had seventy five percent market share, but that's changing fast.
In Thailand, Japanese automakers had fifty percent share pre COVID, but that's down to thirty five percent today. Losing so
much production is really going to hurt Japan's manufacturing capability because as it loses scale, costs will only go up.
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Speaker 1: If you have some basic questions about EV charging speeds, Consumer Reports has put together a pretty detailed list of how many miles of range you can add permitted at a fast charger and how many miles of range per hour at a level two charger. It would take a
little long to go through everything here, so we'll provide a link. But we do see a few interesting trends.
Most newer evs, except for maybe the Toyota and Subaru twins, are able to add ten to fifteen miles of range per minute at a fast charging station under ideal conditions, while evs that ride on older platforms add five miles or less. However, some of those older platform evs do
a better job at filling up the battery on a slower level two charger, keeping pace with those newer evs, So if you mostly charge at home, it doesn't matter if you have a Fiat five hundred eight or a Lucid Air. You're going to add about the same amount
of range while charging. Volkswagen is extending its Chinese joint
venture partnership with SAIC until twenty forty, and the original team up in nineteen eighty four was actually China's first passenger car JAV. By the end of the decade, SAIC
Volkswagen plans to introduce eighteen new models, some of which will be developed for China on China specific platforms and will include ices, pheb's Range, Extended Electrics and b evs.
One of those will be that new Audi Electric that was revealed at the beginning of the month. We've detailed
a lot of VW struggles around software defined vehicles and self driving tech, plus its sales slide in China, so a move like this makes sense. It also has similar
platform and technology deals with Chapung and Rivian, And speaking of VW and China, it's exiting a region of the country where it jointly operates a plant and test track that we're accused of using forced labor. Both assets will
be sold to a state owned development group. The UK
is backing off an EV sales mandate because automakers won't meet the targets. Evs must account for twenty two percent
of passenger car sales and ten percent of van sales this year, but automakers are below those marks, even though they've offered five billion dollars in incentives to EV buyers now, the UK's Business and Trade Secretary says it's EV plan isn't working as intended, so the government is planning to offer more support and will consult with automakers on making changes to the plan. The UK says it's still committed
to phasing out IC sales in twenty thirty, but changes could be made to how automakers are fined for missing targets.
The Business Secretary's comments were made just hours after Stillantis announced it's closing a van factory in the UK because of the EV mandate, and last week Ford also announced it will cut eight hundred jobs in the UK over the next three years. Lighter could become as common as airbags.
That's according to the CEO of Hesseai, the world's largest light our company based in China. Next year it's introducing
a next gen light our system that will cost below two hundred dollars, or half the price of its current model.
Thanks to that price, it expects to deliver one million light ours in twenty twenty five, and Hassei already accounts for thirty seven percent of the global light our market.
The phone used in car seats is meant to take a lot of abuse, but that also makes it difficult to recycle, so it tends to end up in landfills. However,
JLR says it will be the first in the auto industry to introduce seat foam made with recycled content. Early
next year. JLR materials company Doo and seat maker Addiant
will try to make a seat foam at scale that uses twenty percent recycled content for pre production vehicles. Then
the next step will be to increase that percentage as high as possible. The recycled seat foam is actually part
of a bigger project between the three companies to cut the equivalent of forty four kilograms of CO two from the entire seat making process. Asked in, Martin is struggling.
It cut its guidance back in September because of supply chain issues and weak demand in China, and now the auto maker says it expects an EBIT profit between two hundred and seventy and two hundred and eighty million pounds this year, which is below analyst expectations and last year's levels, but it's not all bad news. Aston also said it
raised one hundred and eleven million pounds to help fund its electrification efforts. Earlier this year, Askedon delayed the launch
of its first EVY until twenty twenty six. Astin says
its latest fundraising will give it five hundred million pounds in liquidity by the end of the year. And with
that we wrap up this show and don't forget because of the Thanksgiving holiday, this is our last day of the week. We'll see you right back here again on Monday, December.
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