Automotive

Quick Looks: NIO, Polestar, BYD

Nio set a record, Polestar recycles magnates, and BYD is getting fancy in India.
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Quick Looks: NIO, Polestar, BYD

NIO set a new delivery record in 2022. At 16K deliveries, the company's December sales increased year over year by 50.8%. With 289,556 lifetime deliveries, the company is about 10K short of projections, despite the record year.

Polestar is partnering with Cyclic Materials to increase magnate recycling efforts. By creating a circular supply chain for its rare earth magnets, the company will reduce the overall environmental impact of EV production. Historically, magnet recycling has not been a priority, but it will be essential in a circular supply chain.

BYD is getting fancy in India this year. The company's third passenger EV will launch in India at the end of 2023. BYD Seal will be an all-wheel drive luxury sedan with a 435-mile range. They hope to corner 40% of India's EV market by 2030, still yet to mention sales in the US.

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