#EV market

Lucid is cutting 12% of its U.S. workforce, excluding production staff, marking its third major layoff in three years as the luxury EV maker focuses on efficiency and its upcoming $50,000 midsize platform to drive profitability.

The Toyota Highlander BEV, a key part of Toyota's electrification strategy, was globally revealed during the Chicago Auto Show's media window but was conspicuously absent from the show floor, a deliberate move to focus on hybrid sales.

Hyundai appears to be testing a new, ultra-compact EV, believed to be the IONIQ 1, which could become its smallest and most affordable electric vehicle, potentially targeting a sub-€20,000 price point in Europe.

The upcoming Genesis GV90, the brand's most luxurious electric SUV, was recently spotted in a stunning royal green, hinting at premium color options and retaining concept features like coach doors.

Tesla has launched a new 40,000 SEK incentive for the entry-level Model Y in Sweden, making it more affordable alongside zero-interest financing.

Tesla partners with Tencent to integrate WeChat-linked features directly into Model 3/Y vehicles in China, enhancing local connectivity.

Lucid Motors plans to launch its first mid-size EV, an SUV priced around $50,000, maintaining its luxury focus and avoiding the cheaper segments.

Tesla's sweetening the deal for Model 3 buyers in China, rolling out an RMB 8,000 insurance subsidy through February. It's a strategic move to boost sales amidst a competitive EV market and new taxes.

VinFast has rolled out four new electric scooter models in Vietnam, strategically designed to dominate the domestic market with integrated hardware, software, and energy infrastructure.

Tesla is making moves into Estonia and Latvia, setting up new subsidiaries and hinting at service centers, continuing its European growth.

Volkswagen pauses North American sales of its ID. Buzz for the 2026 model year, aiming for a 2027 relaunch after market assessment.

Europe is set to reverse its 2035 gas car sales ban and introduce a new 'E car' category with fewer safety mandates, aiming to make urban EVs more affordable and compete with China.

Subaru's 2026 Uncharted EV will offer over 300 miles of range and start under $35,000, making it one of the most affordable new EVs.

The Netherlands is about to get Tesla's Model 3 Standard, bringing a more affordable option to European buyers at an estimated €36,990. This strategic move aligns with shifting demand for budget-friendly EVs and aims to boost Tesla's market presence in a subsidy-conscious region.

Bollinger Motors, maker of the B4 electric truck, has ceased operations amidst financial troubles, unpaid bills, and unfulfilled job promises.

China's EV giant BYD is making an aggressive push into Europe, planning to double its sales network by next year as it aims for global domination beyond its home market.