The company’s sales in January and February are down nearly 43 percent year over year, according to new registration data from the EU. Meanwhile, overall electric vehicle registrations are up 28 percent across the continent, as EVs capture 15.2 percent of total EU market share. People still really like EVs, just not the one associated with Elon Musk.
The Chinese automaker reports 777 billion yuan ($107 billion) revenue for 2024, comfortably topping Tesla’s $97.7 billion over the same period. The two companies shipped similar numbers of EVs last year, but add in BYD’s hybrids and it delivered more than double the vehicles Tesla did.
Last week the company unveiled car charging tech that’s twice as fast as Tesla’s, delivering 249 miles of range in just five minutes.
[bloomberg.com]
The South Korean conglomerate’s US investment includes a new $5.8 billion steel plant in Louisiana, which is set to create 1,400 jobs and supply Hyundai’s auto plants in Alabama and Georgia. The company also plans to invest $6 billion to expand partnerships with AI, autonomous driving, robotics, and air mobility companies in the US.
These latest figures build on the $10 billion that Hyundai previously said it would invest into the US between 2022-2025.
