31 October 2023
31 October 2023
Now bigger in China than even VW, going all-in on electrified vehicles is proving to have been a brilliant strategy for BYD
Agreement with GM rounds off the UAW’s contract negotiations with the Detroit 3 in what is widely seen as a victory for the labour union
BYD hits new records for sales and profit
The move adds European production of the EX30 from 2025 - it is already made in China
Firm cites 'substantially lower levels' of light vehicle production in Europe in recent years
New electric medium-duty truck is being manufactured at a plant in Portland, Oregon
UAW/Unifor strike action in North America wiped out around €3bn in revenue in Q3
Rebound from supply shortages drives strong first half output gain for Toyota
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The global off-highway electric market is expected to grow at a CAGR of 17.4% by 2030, per GlobalData. Despite the strong growth, high upfront costs may pose a challenge. Due to the high capacity of these vehicles, they consume large amounts of power from a number of battery packs installed on the vehicle, whose high cost in turn adds to the cost of the vehicle, thereby increasing the initial cost. However, governments worldwide are offering subsidies and tax exemptions in order to help customers to counter the initial purchase cost.
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