Tag: Ford

  • Xiaomi Surpasses Ford and GM in China’s EV Market in 2024

    Xiaomi Surpasses Ford and GM in China’s EV Market in 2024

    Key Takeaways

    1. Xiaomi outsold Ford and GM in China’s electric vehicle market within a year of entering the industry.
    2. The SU7 electric sedan achieved sales of 136,854 units last year, becoming a top choice among consumers.
    3. Ford’s Mustang Mach-E sold only 999 units in China, while GM sold 69,403 EVs, with local partnerships performing better.
    4. The SU7 reached 100,000 units in just 229 days and doubled that figure in an additional 119 days.
    5. Xiaomi plans to increase production, targeting 350,000 deliveries by 2025, with the SU7 Pro and YU7 SUV launching soon.

    Xiaomi is making waves in the automotive industry. The Chinese brand outsold both Ford and GM in the electric vehicle (EV) market in China, achieving this in just under a year since entering the field.

    Successful Launch of the SU7

    The electric sedan, SU7, has become a favorite among consumers, with Xiaomi reporting sales of 136,854 units last year. This impressive number has catapulted them to the top of the sales charts.

    In comparison, Ford’s Mustang Mach-E, which was the second most popular EV in the US for 2024, only managed to sell 999 units in China. The automaker does offer other electric models like the F-150 Lightning and E-Transit, yet these were not available in the Chinese market.

    GM’s Performance in China

    General Motors sold a total of 69,403 EVs under its various brands in China. However, its local partnerships performed significantly better, with Baojun and SAIC-Wulin selling 33,630 and 602,952 units, respectively.

    In the US, Ford and GM sold approximately 98,000 and 114,000 units, respectively, showing a stark contrast to their performances in China.

    Xiaomi’s Future Plans

    Xiaomi’s emergence in the EV sector has been truly remarkable. The SU7, priced under $30,000, reached the milestone of 100,000 units in just 229 days, and it only took 119 more days to double that figure. With plans to ramp up production, the company is targeting 350,000 deliveries for 2025. The SU7 Pro is already fully booked for the year, and the YU7 SUV is set to launch in June or July.

    Source:
    Link

    Tags: , , ,
  • Canada Stops EV Incentives as Funding Runs Out

    Canada Stops EV Incentives as Funding Runs Out

    Automobile buyers and sellers in Canada are feeling the impact of the unexpected termination of the federal EV rebate program. As reported by Transport Canada, the Incentives for Zero Emissions Vehicles (iZEV) initiative is closing down because it has run out of allocated funds.

    Details of the iZEV Program

    The iZEV program provided EV purchasers with a $5,000 rebate when they bought or leased eligible vehicles. This program was distinct from provincial incentives and supported 546,000 vehicles throughout its duration.

    Initially, Canada’s EV incentive plan was scheduled to continue until March 31, 2025. However, Transport Canada has indicated that the allocated funds were exhausted more quickly than anticipated, largely due to a rapid increase in EV adoption. As of now, there is no word on whether the program might be reinstated in the future.

    Help from Automakers

    In response to this surprising news, several EV manufacturers are stepping in to assist buyers. Companies like Ford, General Motors, Hyundai, and Nissan are providing a $5,000 discount, though this offer is only temporary.

    Canada has set a goal that 20 percent of new passenger vehicle sales must be ZEVs by 2030, increasing to a full 100 percent by 2035. For perspective, approximately 1.86 million new cars were sold in the country in 2024.

    Source:
    Link

    Tags: , , , ,
  • Ford CEO loves his Xiaomi SU7 and doesn’t want to part with it

    Ford CEO loves his Xiaomi SU7 and doesn’t want to part with it

    In a surprising twist, CEO Jim Farley of Ford Motor Company recently disclosed on the Everything Electric Show podcast that he has been driving a Xiaomi SU7 for the past six months, rather than a Ford vehicle. This electric sedan comes from the Chinese tech powerhouse Xiaomi.

    Unexpected Choices

    Farley, who is typically focused on Ford’s electrification efforts, usually prefers not to talk about rival companies. However, his time spent with the SU7 led him to share his impressions. “We flew one from Shanghai to Chicago and I’ve been driving it for six months now, and I don’t want to give it up,” he commented during the podcast.

    Impressive Sales

    “It’s fantastic. They sell 10,000, 20,000 a month. They’re sold out for six months,” Farley mentioned, highlighting Xiaomi’s remarkable sales performance with the SU7 earlier in the discussion.

    Xiaomi’s Bold Move

    The SU7 marks Xiaomi’s first foray into the automotive world! The firm, primarily recognized for its success in smartphones and electronics, made its entry into the electric vehicle market back in 2021. The SU7, their initial model, launched this year, is a full-size sedan with a competitive price tag around $30,000. Despite being affordable, the vehicle is equipped with impressive features such as air suspension, adaptive dampers, and active aerodynamics—each enhancing the driving experience.

    Moreover, Xiaomi’s in-house Level 2 and NoA (navigate on autopilot) system provides added convenience, although its certification is presently limited to just 100 cities in China.

    Phenomenal Demand

    The SU7 has gained phenomenal popularity in China. Remarkably, the entire 2024 production was sold out on its first day, with Xiaomi asserting they pre-sold 100,000 units even before the first car left the factory.

    While testing rival cars is common in the car industry, Farley’s enthusiastic endorsement of the SU7 is significant, especially as he usually avoids discussing competitors. This may indicate a potential change in Ford’s approach as they adjust to the increasingly competitive EV landscape that is being shaped by assertive Chinese firms like BYD.

    Tags: , ,