BYD may stand for "Big Year, Dude" since their Q4 profit rocketed 400%. The company says despite a "price war" in the Chinese market, its effort to expand its range of products helped it not only shake off ill effects but also overtake VW as the region's top-selling brand.
In January and February of 2023, BYD accounted for 41% of new-energy vehicle sales in China, while rival Tesla only captured 8%.
"There's an app for that." The company also launched its EV control app in Australia. The 3000 Atto 3 owners in the country can check tire pressure, monitor power level, range, and see how much time is needed to finish charging. The app users can also control in-car settings, such as seat comfort. It's like sitting in the driver's seat looking at the dash, but from the other side of the planet, if you require such a thing.
Lucid announced an 18% cut in its workforce this week. The 1300 layoffs will come from each level of the organization, including executives. Workers will have access to severance packages, career resources, and health insurance.
The cuts are part of a cost-cutting strategy following some softening demand and a recent recall.
Company shares closed about 7% down following the news.
Lamborghini is replacing its flagship vehicle, the Aventador, with its first plug-in electric hypercar, the Revuelto.
The legendary Italian brand and its parent company, VW, are working on going electric along with most other OEMs. The 1000 hp Revuelto has a v12 engine backed up by three electric motors, enabling fully electric mode for a whopping 6.2 miles before the gas engine will need to kick on and recharge the battery - in about 6 minutes.
As The Verge points out, the name could mean "unruly,” or it could refer to a creamy scrambled egg dish. When we try to synthesize the two ideas, we can only imagine trying to eat scrambled eggs in a 1000-hp car would become quite unruly quite rapidly. So it checks out.