AD #3549 – VW Wants to Slash EV R&D Time; BYD Beats Toyota with 200-Km PHEV; BEVs Hold 14% Market Share in EU

This is Autoline Daily, the show dedicated to enthusiasts of the global automotive industry.

VW WANTS TO SLASH EV DEVELOPMENT TIME 30%
Volkswagen wants to speed up development of its electric vehicles in China. So it’s establishing a new company, called 100%TechCo and investing a billion euros in the country for fully connected EVs. It will build a new facility that combines vehicle and component R&D with purchasing. It plans to work more closely with local Chinese suppliers at the beginning of development so it can integrate new technologies into vehicles faster. And it will also more closely integrate development with VW’s Chinese joint venture partners. The new unit launches next year and VW says it will help reduce development times of new products and technologies by 30%.

TESLA CUTS PRICES AGAIN
Tesla is once again cutting the price of its vehicles in the U.S. It lowered prices of the Model Y Long Range and Performance models by $3,000 each and it dropped the price of the Model 3 Rear-Wheel Drive by $2,000. It’s the sixth time this year Tesla cut prices in the U.S. Last week, it slashed prices in Europe, Israel and Singapore and that is on top of cuts it already made in Australia, Japan, South Korea and China earlier in the year. Tesla’s sales were up 4% in the first quarter, which makes us wonder if they would have gone down if it did not cut prices. But we’ll find out later today what impact the cuts had on its earnings when Tesla releases its first quarter results.

BYD BEATS TOYOTA WITH 200-KM PHEV
Chinese automaker BYD is beating Toyota to the punch. As part of its company direction under new CEO Koji Sato, Toyota revealed that it wanted to come out with plug-in hybrids at some point in the future that can go much further on a charge than PHEVs today. Specifically, it said it’s targeting 200 kilometers or 124 miles of range. Well, BYD is launching a new model, called the Destroyer 07, that has two range options; either 121 or 200 kilometers. While that’s based on the outdated NEDC test, meaning real world range will be less, it’s still going to be close enough to the targets that Toyota is aiming for in the future. Battery sizes weren’t revealed, but the car is based on the BYD Han and it will come with either a 1.5L or 1.5L turbo engine. Deliveries are expected to kick off later this year.

LEXUS EXPANDING WILD VAN OUTSIDE OF CHINA
Here’s a Lexus grille that’s in your face. This is the second generation of the LM van that Lexus offers in China. These ultra-luxury minivans are quite popular in the country and often have bold styling. But for the first time Lexus will also offer the LM in Europe and Japan. It comes in either 4, 6 or 7 seat configurations. The 4-seat version comes with reclining captains chairs in the back with a massive 48-inch display screen. You can even separate the front and the rear with a middle partition. Although, the cockpit looks pretty welcoming and almost has a boat-like appearance. The LM is only available as a hybrid. It comes with either a naturally aspirated 2.5L or 2.4L turbo engine that drives the front wheels and an electric motor that drives the rear.

NISSAN REVEALS ALL-NEW PATHFINDER “CONCEPT”
Nissan revealed what it calls a Pathfinder Concept, but it looks like it’s pretty far in the development cycle to us. It’s a completely new vehicle with a new face, side and rear. A horizontal lighting element that stretches the width of the car is picked up on both the front and rear. The interior is also much more fresh and modern. We particularly like the gold accents that are even picked up in the air vents. It also features two large digital display screens that are kind of brought together into one unit. But no word on when the new Pathfinder might launch.

MITSU LAUNCHES REAL-TIME VEHICLE CONFIGURATOR VIDEO
Mitsubishi is making it easier for customers to visualize their purchase before ever paying a cent. It’s launching a new vehicle configurator that uses video game technology to play a video of the Mitsubishi Outlander Plug-In Hybrid driving down the road. And it updates the video in real time as you’re making changes to possible trim and color choices. I tried it out a little and I wouldn’t call it groundbreaking, but it does give you something more than the static picture that you usually get.

BEVs HOLD 14% MARKET SHARE IN EUROPE
Sales of pure electric vehicles surged in Europe last month. According to the European Automobile Manufacturers Association, BEV sales were up 58% in March for a total of 151,500 units and they now hold nearly 14% market share. But while BEV sales were up strong, so were combustion cars. ICE vehicle sales were up 30% and diesels were up 11% in March compared to a year ago. Overall, automakers sold more than 1 million vehicles last month, a gain of nearly 30%. And in the first quarter, 2.7 million vehicles have been sold in Europe and that’s up 18% from 2022.

HYUNDAI PARTNERS WITH AAA ON OFTEN STOLEN CARS
Hyundai and Kia owners were hit with a wave of thefts last year after videos on TikTok and other social media channels showed how to start cars with a fairly simple hack. That’s because some models built before 2020 weren’t equipped with engine immobilizers, which prevents the car from starting if the key isn’t near the vehicle. And as a result, some insurance companies refused to insure those models in some states. So now Hyundai has partnered with AAA to create an insurance program for affected owners. It’s available in all but three states in the U.S. with the exceptions being Alaska, Massachusetts and Washington because AAA doesn’t offer insurance in those states. Hyundai also just rolled out a free software update to fix the issue, that can be installed at the dealership. But some models can’t be fixed with the software fix, so Hyundai will reimburse owners who purchase a steering wheel lock or a different anti-theft device. All Hyundai and Kia models built since November 2021 are now equipped with engine immobilizers.

And that brings us to the end of today’s show. Thanks for making Autoline a part of your day.