BYD is marching on. The company has exceeded its previous month's global wholesale sales record for ten months this year. November was one of three months with over 200K sales at around 230K, which is a 155% year-over-year increase.
Leaving China. The company set an additional record with just over 12K exported passenger cars and 485 commercial vehicles.
Rivian is hitting pause. A commercial van partnership with Mercedes in Europe said the two companies would produce vans together, but not the same van, two different vans in the same factories. Twelve weeks later, Rivian says they will no longer pursue the joint venture.
Nothing ventured, nothing lost. In a press release by Rivian, leadership says the company is evaluating growth opportunities with attention to risk-adjusted capital investment returns. Following a year of ups, downs, angry investors, and annoyed customers, it makes sense the brand is taking its next steps one toe at a time.
GM and LG are getting a boost. A $2.5B loan from the US Energy Department will help the companies build joint battery cell plants in Ohio, Tennessee, and Michigan. The loan creates some 11,000 construction and manufacturing jobs and inches GM closer to its 1M EV a year by 2025 goal.
Dollars for the future. The White House's goal to reach 50% electric automotive manufacturing by 2030 is backed by billions of dollars of loan money like this set aside as part of the Inflation Reduction Act. More loans, battery factories, and US-Based manufacturing are sure to follow.