Beijing — Chinese electric vehicle maker BYD posted an 11.5% rise in third-quarter net profit on Wednesday as it maintained strong sales momentum helped by government trade-in incentives. With third-quarter revenue up 24% on year to 201.1 billion yuan, BYD’s quarterly revenue for the first time outpaced Tesla, whose revenue for the July-September quarter reached $25.2 billion. BYD, whose cars …
DETROIT — General Motors’ net income rose 12% last year despite losing more than $1 billion when many of its plants were shut down by a six-week autoworkers’ strike. Chief Financial Officer Paul Jacobson told reporters that GM is preparing for a 2% to 2.5% average sales price drop on vehicles this year compared to last year as inventory grows …
New York said on Wednesday it will replace more than 900 city-owned fossil-fuel powered vehicles with electric models and install 315 additional EV charging ports after receiving a $10.1 million U.S. Transportation Department grant. New York City currently has more than 4,000 government-owned electric vehicles and by later this year says close to 20% of city vehicles will be EVs. …
Electric vehicles have never been more popular. According to Argonne National Lab, between 2010 and the end of 2021, more than 2.1 million plug-in vehicles were sold in the US, including 1.3 million battery EVs. In total, Argonne calculates that US plug-in vehicles have driven nearly 70 billion miles since 2010, consuming 22 terawatt-hours of energy in the process. For …
