⚡GM Electrifies: Outsells Established Brands...

GM Electrifies: Outsells Established Brands...

Loads of information including Q1 reports, Thursday’s EV news includes:  

  • Q1 figures from Rivian, Ford, Tesla, GM, Hyundai, Kia, and more
  • Kia EV9 and the Hyundai IONIQ 6 dominate the global stage
  • US EV Sales
  • Transom Capital Group completes the acquisition of Webasto Charging Solutions

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Top EV News Stories Powered by EV.Careers

  1. Rivian reported that it produced 13,980 vehicles and delivered 13,588 vehicles in the first quarter of 2024, meeting its expectations, while reaffirming its guidance for an annual production of 57,000 vehicles for the full year; additionally, it announced its plans to release its first quarter 2024 financial results on May 7th.

  2. Hyundai Motor Group's E-GMP-based EVs, including the Kia EV9 and Hyundai IONIQ 5 N, have secured consecutive World Car of the Year titles since 2022.

  3. In the first quarter of 2024, Ford experienced a 7% increase in sales, with the Maverick Hybrid being America's No. 1 selling hybrid truck and overall hybrid vehicle sales up 42%, while also claiming the position as America's second best-selling EV brand with strong EV sales up 86%, featuring the Mustang Mach-E and the F-150 Lightning, alongside record sales for the Ford Transit van.

  4. In Q1, Tesla produced over 433,000 vehicles, delivered approximately 387,000 vehicles, and deployed 4,053 MWh of energy storage products; the financial results will be released on April 23, 2024.

  5. General Motors outsold every EV from Mercedes, BMW, Audi, and Volvo including selling 5,800 LYRIQs and 1,668 HummeEVs.

  6. Canoo achieved a 45% or $184.2 million annual adjusted EBITDA improvement along with a 40% or $11.9 million reduction in capital expenditures compared to already reduced 2023 second-half guidance.

  7. Together, Nio, Li, and XPeng delivered about 132,000 vehicles during Q1, marking a 30% YoY increase.

  • BYD Sold 626,263 new-energy vehicles in Q1, a 13% YoY rise, including approximately 300,114 EVs and 324,000 plug-ins.  BYD reported a 46% rise in sales in March, with exports nearly tripling overseas to 38,434 units.

  • Nio Delivered 11,866 premium smart electric SUVs and sedans in March, a 14.3% YoY increase, totaling 30,053 vehicles in Q1.

  • Li Auto posted a 52.9% jump in deliveries for Q1, delivering 80,400 units, with 28,984 vehicles delivered in March alone.  Li became the first Chinese emerging new energy automaker to reach a milestone of 700,000 cumulative deliveries as of the end of March 2024.

  • XPeng Delivered 21,821 vehicles in Q1, a 19.7% YoY increase, with 9,026 vehicles delivered in March, representing a 98.6% rise from February.

  1. In the US, EV sales grew by 2.7%, and Toyota reported a significant 20% sales increase driven by hybrid and electric vehicles.

  2. Dodge launched a new marketing campaign called "Inner Child Intervention" for the all-new Dodge Hornet R/T, highlighting the electrified crossover's torque-focused performance.

  3. Canoo expands into the Saudi Arabian market through a partnership with Jazeera Paints, selling 20 electric vehicles initially with the potential for 180 more.

  4. Transom Capital Group completes the acquisition of Webasto Charging Solutions, now named "Ampure," a leading provider of electric vehicle and industrial charging products.

  5. Xiaomi debuted its first mass-produced electric vehicle, the Xiaomi SU7, featuring advanced intelligent driving technology and equipped with Hesai's high-performance lidar, garnering over 88,898 reservations on its first day, with deliveries scheduled for April and May.

  6. Saudi Arabia's first electric vehicle brand, Ceer, has awarded a SAR 5 billion contract to Saudi company Modern Building Leaders to construct a new factory in King Abdullah Economic City, spanning over one million square meters and featuring dedicated zones for every stage of vehicle production, logistics, waste management, and offices.

  7. The IKEA Foundation has contributed $100 million to a global initiative called the Drive Electric Campaign, aiming to accelerate electric vehicle adoption in developing countries, particularly in Africa, Latin America, and Southeast Asia, under the "Leapfrogging Partnership".

  8. BYD gave back the title of top EV Seller to Tesla in Q1.

  9. Kia America achieved its second-highest first-quarter sales in company history, with a remarkable increase of 151% in EV sales compared to the previous year, contributing significantly to the milestone.

  10. Hyundai's EV sales surged by 42% in January, while the combined sales of EVs and plug-in hybrid electric vehicles increased by 77% compared to the previous year.

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