Sup. This is Plugged In. Your trusted handyman for everything EVs. Whether you’ve got a flat battery or questions about the newest EV debut - we got your back.

Here’s what we’ve got for you today:

• Chinese EV Firms Will Demolish Rivals ⚡️

• BYD Forecasts 86.5% YoY Growth 📈

• Cruise Faces Safety Review ❗️

CHINESE EV FIRMS WILL DEMOLISH RIVALS ⚡️

Remember way back when Elon Musk chuckled at the thought of BYD, a Chinese car maker, becoming a threat? Well, fast forward to today, and it's no laughing matter.

Elon, our space cowboy and electric car maverick, just gave his investors the lowdown.

Chinese electric vehicles are like that quiet kid in class who turns out to be a genius—they've gone from zero to hero and are now the head honchos in the EV playground.

BYD has zoomed past Tesla, swiping the crown as the top dog in the global electric car sales.

Now, why are Chinese cars the cool new kids?

They’re faster than a rumor on a Friday night when it comes to churning out fresh, snazzy designs. China’s practically painting the town red with EVs, grabbing nearly 60% of worldwide sales last year. And with their home turf getting as crowded as a subway at rush hour, they're looking to party in new markets.

So what’s Tesla’s take?

Well, let's just say they’re feeling the heat in China and could soon feel it elsewhere. With Chinese companies eyeing a spot in Mexico, it might just get a tad too cozy for comfort for Tesla on their own turf.

Want to be featured in our next email? Leave a testimonial below!

BYD FORECASTS 86.5% YOY GROWTH 📈

The Chinese electric car juggernaut that's leaving skid marks on the profit track.

BYD's wallet is getting fatter—think 86.5% fatter—thanks to their electric chariots flying off the shelves and some nifty cost trimming.

Last year they pocketed somewhere between 29 and 31 billion yuan, which is real money, even if it sounds like points in an arcade game.

This isn't quite like last year when BYD's profits went ballistic with a 446% leap.

ut still, it's the kind of growth that makes their rivals' bank accounts look like they're on a diet.

BYD knocked out 526,409 shiny new EVs to customers, while Tesla was a smidge behind with 484,507.

And for the entire dance of 2023, BYD cranked out just over 3 million vehicles, which is a 61.9% hop, skip, and a jump from before.

CRUISE FACES SAFETY REVIEW ❗️

Let’s talk about the wild ride at General Motors' Cruise control—or should I say, the lack thereof?

It’s like planning a road trip, but your car decides it’s not going anywhere, anytime soon.

So, GM’s Cruise, their self-driving car star, is on a bit of a detour. The bigwigs at GM are tightening the purse strings, cutting a cool billion from Cruise's budget, and hitting pause on their comeback tour indefinitely.

Everyone’s asking, “When will Cruise's robot cars grace our roads again?”

They’ve got the National Highway Traffic Safety Administration peeking under the hood, which means we’re in for a long pit stop. 

Turns out Cruise might have been playing hide and seek with some crucial info.

Not cool when you’re trying to win back trust. To get back on the road, they’ve got to convince a whole parade of regulators that they’re ready to roll.

And about that accident… a deep dive showed the car was more confused than a tourist without GPS.

Cruise is looking to make a comeback, but it’s gonna take more than a splash of paint and a promise. Until then, we’ll keep our eyes peeled and our fingers crossed.

THE JUICE 🔋

• Ford EV Sales Decline

• China Overtakes Japan in Car Exports

• Battery minerals pressure causes cracks Down Under

• Volkswagen founds AI Lab

• Tesla warns of ‘slowing growth’ for 2024

*sponsored link

PLUGGED IN MEMES

INTERESTED IN ADVERTISING ON PLUGGED IN?

Advertise with us here

A PLUGGER’S REVIEW

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.