🎯Autowist Report 100

BYD-Tesla, Rivian Update, Android Auto in 2025, CATL swappable battery

Author

Harikrishnan Radhakrishnan
January 07, 2025

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IN TODAY’S REPORT

Table of Contents

💼BRIEFING

Top insights and analysis that is moving the needle in the automotive industry

  • BYD’s record-breaking year

    • BYD sold 4.25 million passenger cars in 2024, with 1.76 million being fully electric (up 41% year-over-year).

    • December 2024 was especially strong, totaling 509,440 plug-in and EV sales (207,734 EVs), driven by government subsidies and buyer incentives.

  • Tesla’s slowing momentum

    • Tesla sold 1.79 million EVs in 2024, a 1.1% decrease compared to 2023—its first decline in over a decade.

    • Fourth-quarter incentives (free charging, 0% financing, low-priced leases) boosted Tesla’s numbers but couldn’t offset the slow start to the year.

  • Looking ahead to 2025

    • BYD’s annual revenue is expected to exceed $100 billion for the first time, fueling further EV investment and global expansion.

    • If BYD continues on this trajectory, it could potentially surpass Tesla in 2025, solidifying its position as a major global automotive powerhouse.

Stock performance in the last month

BYD Seal U

CATL bet on swappable battery ecosystem (Link)

  • Standardized battery packs (#20 and #25)

    • Available in both LFP (LiFePO₄) and NMC (nickel-manganese-cobalt) chemistries.

    • #20 packs offer 42 kWh (LFP) for ~400 km (248 mi) or 52 kWh (NMC) for ~500 km (310 mi).

    • #25 packs offer 56 kWh (LFP) for ~400 km or 70 kWh (NMC) for ~600 km (372 mi).

    • Designed to fit A0-class (smaller) and A/B-class (larger) vehicles.

  • Subscription-based battery usage

    • Users pay monthly for battery access rather than purchasing the battery outright. Similar to Gogoro, the math is much better since batteries are depreciating. Move some of that depreciation to the customer instead of waiting to hit the cliff when the battery gives up. Instead they can accumulate the capital needed for a second or even a third battery funded by one battery’s lifeitme.

    • Monthly rental plans (for the LFP versions):

      • #25 pack: ¥599 (approx. $82) for unlimited mileage, or ¥499 (approx. $68) for a family plan.

      • #20 pack: ¥469 (approx. $64) for unlimited mileage, or ¥369 (approx. $50) for a family plan.

  • Battery swap stations

    • CATL plans to build 1,000 Choco-Swap stations in 2025 and expand into Hong Kong and Macau.

    • Longer term, aims to reach 10,000 stations, ultimately targeting 30,000 worldwide (no specific timeline).

    • Each station supports wheelbases ranging from 2.55 m to 3.10 m, houses 14–30 battery compartments, and enables 100-second battery swaps.

    • Integrates energy storage, fast charging, and “battery-to-grid” (B2G) capabilities.

  • Choco-Swap ecosystem

    • A cross-brand, cross-vehicle, cross-industry platform for standardized battery swapping.

    • Involves nearly 100 partners—including automakers, financial institutions, and insurance providers.

    • Batteries can be charged, swapped, upgraded, leased, purchased, buy-backable, and fully tracked (“visible, manageable, optimizable”).

  • OEM collaborations

    • CATL announced partnerships with Chinese automakers like Changan, GAC, BAIC, Wuling, and FAW.

    • At least 10 new swappable-battery EV models planned, some arriving by the end of this year.

  • Financial and insurance support

    • Shift from financing entire vehicles to financing vehicles without batteries, reducing purchase costs.

    • Specialized battery insurance from partners can lower premiums from ~¥2,000 to ~¥500.

Android Auto usage is on the rise, now available in nearly all new vehicles except GM’s latest EVs (which only support Android Automotive). Google is aiming to serve both embedded (Android Automotive) and projected (Android Auto) user experiences to grow its footprint in the car market.

4 categories to look out for in the coming year:

  • Car Media: A new app called Car Media is expected to launch soon—possibly as early as January. It addresses long-standing limitations in Android Auto by giving users direct access to FM radio stations and media stored on USB drives without exiting the Android Auto interface.

  • Video Apps: YouTube will be officially supported, though only when parked (current workarounds exist but are unofficial).

  • Browsers: Users could browse the web on the car’s infotainment screen while parked, with potential for web apps in the future.

  • Gaming: Larger infotainment screens plus controller support may allow more advanced games, making waiting in a parking lot or during charging more entertaining.

The Numbers

  • Over 114,000 GM-made electric vehicles (EVs) were sold in 2024, more than doubling (up 125%) from 2023. GM claims around 12% of the U.S. EV market.

  • Top-selling models:

    • Chevy Equinox EV (28,874)

    • Cadillac Lyriq (28,402)

    • Blazer EV (23,115)

    • HUMMER EV (13,993, pickup + SUV)

    • Chevy Bolt EV (8,627)

    • Silverado EV (7,428)

    • GMC Sierra EV (1,788)

    • BrightDrop Zevo (1,529)

    • Escalade IQ (670)

To Carplay or not?

  • GM previously had a $5B co-production deal with Honda for affordable EVs, which was abandoned in late 2023. Despite that, GM still manufactures the Honda Prologue (essentially a rebadged Blazer EV) and the Acura ZDX (similar to the Cadillac Lyriq) in Mexico.

  • Honda sold nearly 40,000 of these rebadged EVs in 2024, all equipped with Apple CarPlay and Android Auto—unlike GM’s own EVs, which lack these features.

  • GM opted to remove both Apple CarPlay and Android Auto from its new EVs, betting on its own infotainment approach. The Honda/Acura EVs built by GM retain these connectivity options, and they sold strongly, suggesting consumers value this technology.

💹FINANCIALS

A focused look at recent automotive company financials

Rivian Update - Highlights

2024 Production: Rivian produced 49,476 vehicles—surpassing the 47,000–49,000 range it announced in October after supply-chain challenges. Q4 production totaled 12,727 vehicles, with 14,183 units delivered—over 40% higher than Q3.

Q3 Net Loss: Stood at $1.1 billion, lower than Q3 2023’s $1.34 billion, but still translating to a loss of around $39,000 per vehicle.

October Revision: Rivian lowered its 2024 production goal from 57,000 to a maximum of 49,000 after encountering supply chain issues. A miscalculation in demand planning led Essex Furukawa (Rivian’s sole copper wire supplier) to divert resources elsewhere. This constrained production in Q3. Rivian has confirmed the shortage is no longer limiting production, paving the way for smoother output in 2025.

⚡ROUNDUP

Key headlines shaping the auto industry this week

  • Are Americans finally ready to downsize their vehicles? (Link)

  • NIO & XPENG Sales Trends Across 5 Years — Charts! (Link)

  • BYD Bus & Commercial Vehicle Sales Explode — Charts (Link)

  • The latest US EV sales and charger growth – in numbers (Link)

  • Chinese automakers build their way around tariffs (Link)

  • BYD closes 2024 on Tesla’s heels (Link)

  • EVs Take 62.8% Share in Sweden — 2024 a Year to Forget (Link)

  • Four EVs that take on the Tesla Model Y (Link)

  • Jaguar Cybertruck Mash-Up Proves We’re All Just Living In The Future (Link)

  • What's Next for Android Auto in 2025 (Link)

  • GM’s EV Sales Skyrocket And Soon We’ll All Be Driving Mushroom Cars (Link)

  • Nio Slashes Charging and Battery Swap Prices by 34% in the Netherlands (Link)

  • 2025 Ather 450X review: Software Update (Link)

  • GM's 2024 Sales Figures Reveal People Do Like EVs but Also Want Apple CarPlay (Link)

  • Tesla Supercharging: The New (NACS) Era (Link)

  • Ford Reaches New Electric Vehicle Sales Heights (Link)

  • Chinese Import Helps Lincoln Achieve Best Retail Sales In Nearly Two Decades (Link)

  • Uber CEO Dara Khosrowshahi resigns from self-driving truck startup Aurora’s board (Link)

  • Aptiv to Release Fourth Quarter 2024 Financial Results (Link)

  • From engines to algorithms: Gen AI in automotive software development (Link)

  • Ford is extending its free at-home EV charging promotion (Link)

  • GM surges to become America’s number 2 EV seller as electric SUVs, trucks roll out (Link)

  • Rivian Hits A New Sales Record For 2024 (Link)

  • Rivian (RIVN) stock surges after delivering more EVs than expected in Q4 2024 (Link)

  • Rivian Says Component Shortage No Longer a Constraint on Production (Link)

  • Hyundai Motor installs pilot production line for all-solid-state batteries in South Korea (Link)

  • Nio to Release Major Software Update on January 10 (Link)

  • GM posts 4% sales growth in 2024, as market share keeps expanding (Link)

  • Tata Motors registered total sales of 2,35,599 units in Q3 FY25 (Link)

  • 2025 GMC Terrain Adds New Screens, Google Tech, And $1,300 To Its Price Tag (Link)

  • Norway's EV sales near 90% in 2024, leading global shift (Link)

  • Researchers in South Korea develop advanced lithium metal battery technology (Link)

  • CES 2025: Forvia to display scalable, white-label app markets and ecosystem (Link)

  • BlackBerry renames BlackBerry IOT as QNX; plans to relaunch QNX brand at CES 2025 (Link)

  • CES 2025: SoundHound AI to demonstrate Lucid Assistant developed for Lucid Motors (Link)

  • New milestone: CarUX puts forth novel model for smart cockpit (Link)

  • Infineon and Flex showcase zone controller design platform for software-defined vehicles (Link)

  • Xpeng launches global XOS 5.4 OTA update with new safety, smart driving, personalization features (Link)

  • CATL details new battery swap ecosystem, plans to co-develop EVs with swappable batteries (Link)

  • Software-defined hardware in the age of AI (Link)

  • Google Should Relaunch Android Auto for Phones (Link)

  • Hongqi Tiangong 08: launching January 7 (Link)

🤖TECH DEEP DIVE

An inside look into new automotive technology

Automotive PCIe

🐦AUTO BUZZ

Top posts, tweets, and videos from the automotive industry

📈MARKET SNAPSHOT

This week’s key movers in the automotive stock market

📆CALENDAR

Upcoming auto industry events and and earnings calls