I’ll be honest with you, InsideEVs reader: I’m not expecting a ton of news in our world this week. I could of course be wrong – it sometimes happens – but it should come as no surprise that everyone’s collective attention is largely elsewhere. And the US presidential election could have profound implications for the future of the electric vehicle revolution here, even if the current situation is far from clear.

In the meantime, it’s a good time to take a close look at the rest of the world here on Critical materialsour morning roundup of news in the fields of mobility, electrification and technology. On the agenda today: Chinese automakers, BYD in particular, are crushing it right now; Toyota takes an important step with its electrified vehicles; and one analyst imagines what this election could mean for Tesla in particular. Let’s dig.

30%: BYD has a huge month in global sales, Zeekr also up sharply

Photo by: BYD

Now, I don’t want to say “I told you so” because no one likes that guy. But a few weeks ago, contributor Alysha Webb did a great article about how Chinese automakers make massive progress in regions of the world that our America- and Europe-centric media don’t always cover, such as Latin America and Southeast Asia. Lo and behold, China’s BYD – a burgeoning heavyweight that is neck and neck with Tesla in global electric vehicle sales and also sells hybrids – posted another record month of sales in October.

Here is Bloomberg to elaborate:

China’s No. 1 automaker, which only makes pure electric and plug-in hybrid vehicles, sold 500,526 units in October, according to data released Friday. Hybrid sales were the best performers last month with 310,912 deliveries. Improved powertrains in some of BYD’s latest hybrid models now enable a range of more than 2,000 kilometers.

Shenzhen-based BYD reached another milestone last month by reporting third-quarter revenue higher than Tesla Inc.

BYD is also on track to meet its revised annual sales target of 4 million vehicles, having sold about 2.74 million vehicles through September. Citibank Inc. estimates BYD could sell as many as 500,000 units per month by November.

More importantly, as Nikkei Asia According to reports, BYD doubled its overseas sales in the nine-month period from January to September, supported notably by strong sales in Brazil and other parts of Asia. What did we tell you?

BYD is certainly not the only success story in China. Zeekra brand of the Geely group that we have written on not bad this year (it’s another cousin of Volvo and Polestar, and in fact it’s a bit like Polestar if it had a wider range and saw more sales won) is also breaking records. CNBC reports that Zeekr delivered 25,049 vehicles in October and could actually be on track to deliver 230,000 cars in 2024.

Elsewhere, Nio and Xpeng also had excellent months, bouncing back from an overall slower sales year in China. But all of these brands have designs far beyond China, and the rest of the world had better pay attention.

60%: Half of all Toyota and Lexus vehicles sold in October were electrified

Meanwhile, in the United States, the new car market is generally sluggish due to continued high interest rates. Some brands are doing better than others, and one thing is clear: These days, when people buy a Toyota or a Lexus, they are increasingly opting for the hybrid (or electric). Automotive News:

Toyota brand sales fell 5.5 percent to 159,370 in October, dragged down by the recently completed sales discontinuation of the Grand Highlander three-row crossover, as well as sharp declines in the 4Runner SUV and of the Highlander crossover. Sales of the Lexus brand fell 2.3 percent to 26,559 units, weighed down by the cessation of sales of the TX three-row crossover.

Notably, the Japanese automaker’s electrified vehicle sales exceeded 50% of Toyota and Lexus’ combined monthly sales for the first time in October.

Toyota is going through a difficult time, because The reader in other words, when it comes to the initial quality of its new generation of gasoline vehicles. I have no doubt that the reliability king will fix these problems soon, but I also remind them that one way to avoid engine problems is to remove the engine altogether. I continue that if the bZ4X and the Lexus RZ had stronger specs in a few key areasthey would be absolute killers for these brands.

90%: What is the endgame for Tesla if Trump wins?

Okay, you’ll get some election news in today’s critical materials after all. Or rather an analysis, because we are still thinking about what could happen in the months and years to come based on Tuesday’s vote.

But we do know that Tesla CEO Elon Musk is, perhaps more than anyone in America, aggressively promoting former President Donald Trump’s victory. He campaigns, finances a (would have been very troubled) ground game in Pennsylvania and using social media platform X as the loudest megaphone possible to move the needle. So why side with a guy who was and still is a staunch critic of electric vehicles?

Trump has pledged to repeal as many of the Biden administration’s policies that boost electric vehicle manufacturing and sales in America. Yet a theory from pro-Tesla analyst Dan Ives says that may be the problem: If all these new electric vehicle and battery factories lose a key source of incentives, that could in theory help Tesla to maintain its advantage by cutting off the competition. Here is Ives in In search of Alphaalso noting the risks involved:

Wedbush Securities believes that a Donald Trump victory would be negative for the EV industry overall, due to the likelihood that EV tax rebates/incentives will be removed. However, the Trump scenario for Tesla is more complicated.

Ives noted that Tesla has unmatched scale and reach in the electric vehicle industry, which could give the Austin-based company a clear competitive advantage in an environment of non-EV subsidies, coupled with tariffs. probably higher Chinese prices which would continue to drive down prices. Chinese electric vehicle players such as BYD and Nio are entering the US market. Notably, Tesla could also benefit from an accelerated timeline for its autonomous and FSD initiatives.

On the negative side for Tesla, there could be implications over the next year for consumer demand if Trump and Musk are even more closely linked, according to Ives. There is also a risk that an escalation in the trade and tariff war could hurt Tesla’s sales in China or weigh on the stock.

But I think this goes further than just Tesla and electric vehicle sales. Musk clearly expects to play a role in destroying the regulatory apparatus he sees as an obstacle to space travel, artificial intelligence and anything else he wants to do. I also think this plan depends on Musk and Trump maintaining good relations, and I’m not convinced that will be the case.

As for what Kamala Harris’ victory could mean for Musk, well… he thinks the Democratic Party is I want to destroy him personally now. It’s just a bit too much lately.

100%: what happens to Tesla and Musk after November 5?

Photo by: InsideEVs

I wonder how Musk and Tesla will be perceived by the public if he goes all in for Trump and Trump continues to lose. And I’d be shocked if Tesla’s traditional base of environmentally conscious EV buyers, who tend to be more politically progressive, let all this slide. Or maybe Musk’s huge bet on Trump will pay off if things go this way. Do you have any theories? Let us know in the comments.

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