BYD Sets Record with Seven Millionth Plug-In Electric Vehicle
BYD has set a global record as the first automaker to produce seven million plug-in electric vehicles. This milestone was reached just four months after the company celebrated its six millionth vehicle, with sales tracking back to 2008. Approximately half of these are all-electric vehicles and the other half plug-in hybrids.
The seven millionth vehicle, an all-electric Denza N7 SUV, highlights BYD's expansion in the electric vehicle market. The Denza N7 competes directly with the Tesla Model Y and is part of BYD’s broader lineup that includes models like the D9 MPV and N8 SUV. An updated version of the Denza N7 is scheduled to launch on April 1, 2024, from BYD's Jinan factory in China, marking another step forward in BYD’s commitment to leading in the electric vehicle sector.
BMW Unveils Neue Klasse Platform with Bidirectional Charging
BMW is set to launch its Neue Klasse electric car platform next year, starting with an SUV. Revealed today through the Vision Neue Klasse X concept, this platform introduces bidirectional charging, allowing vehicles like the upcoming iX3 SUV (2025) and i3 sedan (2026) to function as mobile power sources for homes, appliances, and more.
Bidirectional charging will be standard across Neue Klasse models, supporting Vehicle to Home, Vehicle to Grid, and Vehicle to Load functionalities at no extra cost. BMW will roll out this feature in stages, beginning with home power supply, followed by grid support where legislation permits, and finally powering external equipment. BMW's announcement did not include vehicle-to-vehicle charging capabilities.
Bentley Motors Postpones All-Electric Transition Due to Technical Delays
Bentley Motors has adjusted its timeline to switch entirely to electric vehicles (EVs), moving the target beyond the initially planned 2030 deadline. The British luxury carmaker cites significant software and vehicle architecture challenges as the main reasons for the delay. CEO Adrian Hallmark confirms that Bentley is still committed to achieving carbon neutrality and will continue offering plug-in hybrids alongside its future battery electric vehicles.
The company's first EV, initially expected next year, is now slated for a 2026 release. This postponement will also affect the rollout of subsequent new EV models, which were to follow annually as part of Bentley's $3.4 billion investment strategy by 2030. Hallmark emphasized that these technical issues, rather than market conditions, are driving the revised schedule.
Shell Revises Energy Transition Targets
During its Capital Markets Day in June 2023, Shell plc updated its energy transition strategy, part of the Powering Progress initiative launched in 2021. The company now targets a 15-20% reduction in the net carbon intensity of its energy products by 2030, compared to 2016 levels, adjusting down from a previously set goal of a 20% reduction. This update is a key component of CEO Wael Sawan's revised strategy, which focuses on high-margin projects and growth in natural gas production to boost returns.
Shell's revised goals align with its commitment to achieving net-zero emissions by 2050 across all operations and products, supporting a balanced transition to low-carbon energy while ensuring energy remains secure and affordable.