This week, we have news on BMW, BYD, and Congress: Our Top EV News for the week of Nov 11, 2022.
Check out the full newsletter for the week which includes more Electric Vehicle News, and also news about Autonomous Vehicles. Have a look at this week's newsletter for more EV news, we’re running a Giveaway in the month of November. Check it out here.
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$36.3 Billion in Sales
BMW saw record Q3 sales for EV purchases with 128,195 EVs delivered, more than a 114.8% increase from Q3 2021. BMW earned $36.3 billion in revenue during the quarter with the most popular vehicles being the BMW i3, iX, i4, and Mini Cooper SE. The i7 luxury sedan was launched this month and the i5 will follow in 2023.
BYD has sold over 1.4 million EVs this year and is launching a new premium brand called Yangwang (meaning “looking up”). The first vehicle is an off-road vehicle and will be priced around $110,300 - $207,000. Expect this SUV to be made public in 2023.
Loosen the Rules
Japan wants the US to loosen rules around EV tax credits because the country thinks the rules put Japanese automakers at a disadvantage. America now requires the final assembly to take place in North America.
@Toyota, your wish is Congress's demand, well, maybe. A new bill in Congress, the Affordable Electric Vehicles for America Act will allow almost all EVs in the US to qualify for a $7,500 tax credit. Will it pass?
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