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Tesla Kept EV Sales Crown in 2023, but Competition Is Closing In Tesla may have captured a big slice of the EV market early on, but these days there is a much larger cast of competitors that want the sales crown, or at least a piece of the EV pie.
And there is one particular EV maker that the industry is keeping its eye on, even as Tesla delivered 1.8 million vehicles globally in 2023.
Also interesting in those Tesla numbers (at least the numbers that Tesla has shared thus far): 1.73 million of vehicles delivered were the Model 3 and the Model Y, painting a worrying picture for the rest of Tesla's lineup, which now includes the Cybertruck.
Will Tesla be able to keep its sales crown in 2024, or will another major EV maker overtake it? |
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New EV Brand Sets Its Sights on Porsche and Tesla After Sony and Foxconn, perhaps it shouldn't surprise that yet another tech giant is getting into the EV game. This time it's the turn of China's Xiaomi, better known in this country as a maker of smartphones and tablets.
The company recently unveiled a sleek sedan prototype dubbed the Xiaomi SU7 along with electric motors of its own design, curiously named after V6 and V8 engines.
And as the first images of its debut sedan suggest, the company plans to go after Tesla and Porsche.
The base single-motor model promises 295 hp sent solely to the rear wheels, a range of 415 miles in the CLTC cycle, and automated driving tech with plenty of sensors on the car.
But is another pricey sedan with a big battery and driver-assist tech what the EV market needs right now? |
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List of EVs Eligible for the $7500 Federal Tax Credit Drastically Shrinks The $7500 EV tax credit has been a crucial feature of the EV buying process for over a decade, even if realizing those savings is a clunky exercise.
But new rules have taken effect on January 1, drastically reducing the number of cars eligible for the full amount. There are just four vehicles left, in fact, that qualify for the full $7500 credit.
Needless to say, automakers are working on ways to get their vehicles back into eligibility. But it will take some time, and it could affect car-buying decisions for a lot of shoppers this year and in the future.
Here's what you need to know about the new rules. |
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Spread the word: If you know someone interested in staying on top of the rapidly growing EV segment, feel free to pass this newsletter along. |
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https://link.autoweek.com/oc/5e72241397a2142fca606ee4k6o2h.3v1/a16df016 |
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