EV Daily | Tesla Faces Tariff Woes; BYD Expands Globally; Hyundai, Ford Drive US EV Growth
Friday, Mar 28, 2025 8:01 am ET
1min read 【Tesla】
tesla is experiencing significant geopolitical and financial challenges. Due to the Trump administration's tariffs on non-US assembled cars, countries like the UK and Canada are reconsidering Tesla's eligibility for EV incentives. Tesla's sales are dropping in Europe, particularly in France and Germany, although the UK remains a growth market. Analysts are adjusting their sales forecasts for Tesla significantly downwards, with many citing the Model Y changeover and growing competition as ongoing issues. Tesla's gross margins are also decreasing, which, coupled with new tariffs affecting parts from Mexico and Canada, could lead to increased car prices.
【BYD】
BYD is aggressively expanding its global market presence with a focus on profitability and overseas sales, aiming to surpass Toyota's scale. The company achieved record revenues in 2024 and expects overseas sales to double. BYD's expansion includes manufacturing in Brazil, Hungary, Turkey, and Indonesia, and it is also considering a new site in Europe. The company is known for its affordable models like the Seagull and is also venturing into luxury cars with the Yangwang brand, including the new Yangwang U7 ultra-luxury electric sedan.
【Others】
Nissan is focusing on revamping its brand with a new CEO and strategic changes to improve its market position, despite challenges like the underwhelming new LEAF. The UK is imposing tariffs on US cars in response to Trump's actions, potentially affecting brands like Nissan.
Hyundai's new EV plant in Georgia started production of its IONIQ 9 SUV. The facility is expected to produce up to 500,000 vehicles annually, attracting significant investment and creating jobs. Hyundai's investment in the US could be jeopardized by the Trump administration's new tariffs on imported vehicles.
Ford has improved the 2025 F-150 Lightning with better charging capabilities and new features, while keeping prices stable. The electric pickup now includes a 'Dark Elements' appearance package and updated BlueCruise technology.
ION Storage Systems has advanced its solid-state battery technology, achieving important milestones in performance and production. The company plans to expand into the EV market after securing significant funding and partnerships.
Vessev, a New Zealand-based hydrofoil boat manufacturer, is expanding into the US market with plans for local manufacturing.
Kovaco released the CyberX, a fully remote-controlled electric mini track loader, which is now available in the US. The loader offers safety and environmental benefits over traditional models.
GMC's 2026 Sierra EV introduces more affordable trims, enhancing its offerings in the premium truck market. The new models include various battery options and capabilities, aiming to capture a larger market share.
tesla is experiencing significant geopolitical and financial challenges. Due to the Trump administration's tariffs on non-US assembled cars, countries like the UK and Canada are reconsidering Tesla's eligibility for EV incentives. Tesla's sales are dropping in Europe, particularly in France and Germany, although the UK remains a growth market. Analysts are adjusting their sales forecasts for Tesla significantly downwards, with many citing the Model Y changeover and growing competition as ongoing issues. Tesla's gross margins are also decreasing, which, coupled with new tariffs affecting parts from Mexico and Canada, could lead to increased car prices.
【BYD】
BYD is aggressively expanding its global market presence with a focus on profitability and overseas sales, aiming to surpass Toyota's scale. The company achieved record revenues in 2024 and expects overseas sales to double. BYD's expansion includes manufacturing in Brazil, Hungary, Turkey, and Indonesia, and it is also considering a new site in Europe. The company is known for its affordable models like the Seagull and is also venturing into luxury cars with the Yangwang brand, including the new Yangwang U7 ultra-luxury electric sedan.
【Others】
Nissan is focusing on revamping its brand with a new CEO and strategic changes to improve its market position, despite challenges like the underwhelming new LEAF. The UK is imposing tariffs on US cars in response to Trump's actions, potentially affecting brands like Nissan.
Hyundai's new EV plant in Georgia started production of its IONIQ 9 SUV. The facility is expected to produce up to 500,000 vehicles annually, attracting significant investment and creating jobs. Hyundai's investment in the US could be jeopardized by the Trump administration's new tariffs on imported vehicles.
Ford has improved the 2025 F-150 Lightning with better charging capabilities and new features, while keeping prices stable. The electric pickup now includes a 'Dark Elements' appearance package and updated BlueCruise technology.
ION Storage Systems has advanced its solid-state battery technology, achieving important milestones in performance and production. The company plans to expand into the EV market after securing significant funding and partnerships.
Vessev, a New Zealand-based hydrofoil boat manufacturer, is expanding into the US market with plans for local manufacturing.
Kovaco released the CyberX, a fully remote-controlled electric mini track loader, which is now available in the US. The loader offers safety and environmental benefits over traditional models.
GMC's 2026 Sierra EV introduces more affordable trims, enhancing its offerings in the premium truck market. The new models include various battery options and capabilities, aiming to capture a larger market share.
Ask Aime: What impact will the Trump's tariffs have on Tesla's sales and growth?
