Stellantis announced it will cease production of Jeep and Chrysler plug-in hybrid electric vehicles (PHEVs) in North America, signaling a shift in their electric vehicle strategy.
Stellantis is recalling over 375,000 Jeep Wrangler and Grand Cherokee PHEVs due to a fire risk linked to battery defects, advising owners to avoid charging and park outside until a remedy is available, with affected vehicles produced by Samsung SDI.
Stellantis will continue to honor the $7,500 federal EV tax credit for Jeep, Dodge, Chrysler, and Fiat vehicles, including EVs and PHEVs, beyond the official deadline, but only for vehicles currently in dealer inventory, as part of its effort to boost sales and market share in the US.
BYD sold 382,476 NEVs in May, with record overseas sales reaching 89,047 units, marking a sixth consecutive month of record-breaking overseas sales and a 15.27% year-on-year increase in total NEV sales. The company's focus on electric and hybrid vehicles continues to grow, with significant increases in power battery installations and a target of 5.5 million units sold in 2025.
Toyota is expanding its electrified vehicle lineup with new hybrid, PHEV, and EV models, aiming to increase PHEV sales significantly by 2030 and offering a diverse range of powertrains to boost success, though it faces competition from more advanced EVs and Chinese automakers.
Jeep aims to increase U.S. sales of its plug-in hybrid electric vehicles (PHEVs) by up to 50% in 2024, targeting 160,000 to 170,000 units. This strategy serves as a bridge between traditional gas-powered SUVs and all-electric models, with Jeep launching its first all-electric SUVs, starting with the Wagoneer S. The brand's focus on PHEVs is part of a broader plan to meet tightening emissions standards and consumer demand for electrified vehicles.
BYD sold 331,817 new energy vehicles (NEVs) in May, marking a 38.13% year-on-year increase, with plug-in hybrid electric vehicle (PHEV) sales hitting a record high for the third consecutive month. The company's focus on PHEVs over battery electric vehicles (BEVs) reflects market trends favoring hybrids. BYD also unveiled its fifth-generation DM technology and new models to strengthen its market position. Despite strong domestic sales, overseas sales saw a slight decline from April.
BYD has unveiled its latest plug-in hybrid platform, DM-i 5.0, which offers a driving range of 1,300 miles and starts at RMB 99,800 ($13,772). This advancement is expected to accelerate China's transition to green vehicles, as new energy vehicles now represent over half of China's personal vehicle market. The Qin L and Seal 06 models feature efficient thermal energy conversion and reduced fuel consumption, positioning BYD as a leader in the PHEV market.
The 2024 Toyota Prius and Prius Prime are receiving high praise and redefining the practical electric-propulsion car. Toyota aims to capitalize on the slowdown of pure electric vehicle production by promoting plug-in hybrid electric vehicles (PHEVs) as a more practical and cost-effective option. With a focus on offering pure electric driving locally and a gas-powered engine for long-distance driving, the Prius Prime addresses consumer doubts about pure electric vehicles. Despite criticism from some groups, Toyota's strategy aligns with its global market priorities and the evolving consumer demand for electric vehicles.
BMW is set to introduce several new models and updates for the 2025 model year, including the addition of a manual transmission option for the Z4 M40i, increased power for the M4 Competition xDrive models, the introduction of the 550e xDrive PHEV in the 5 Series lineup, the arrival of the i5 xDrive40 electric model, and updates to the non-M versions of the 4 Series. Additionally, the Mini Aceman, a new all-electric Mini crossover, is set to be revealed later this year.
The third-generation Volkswagen Tiguan has been unveiled in Europe, with a US release scheduled for next year. The European version offers various powertrain options, including two plug-in hybrid models with electric-only ranges of up to 62 miles. The Tiguan also features mild-hybrid and turbodiesel options, along with tech upgrades such as an improved adaptive chassis control system and an updated infotainment system. Safety systems include adaptive cruise control and lane keep assist. Specific details about the US-spec Tiguan are yet to be revealed.