Industry Round-Up: ReUsed EVs, Rivian, Toyota, BMW, and Tesla

ReUSED EVs

In the first half of 2023, "Used" was among the most popular EVs sold in the US.

• With 140K sales, used EVs outpaced even the popular Tesla Model 3.
• Used EV prices have dropped 32% year-over-year and are not averaging just under $28K.
• Rising inventory levels, tax credits, and a shifting balance between charging access and fuel prices all contribute to the swell.
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Winning Dirty: Rivian

Rivian's R1T is the first EV to win the Rebelle Rally, the longest off-road rally in the US.

Not just the EV winner. You may be tempted to guess the Rivian won some sort of EV division of the contest, but no, it won the context, beating traditional ICE models.

Not just one Rivian. Two Rivian teams competed and took the top two spots. Rivian employees drove the truck that took first place.

The company has been in the news a good deal since it launched in 2021 and doesn't seem interested in slowing its roll now.
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Toyota’s SOLID Restart

Toyota recently announced it is just about ready to begin mass production of solid-state batteries. Intending a 2027-2028 launch, the batteries charge faster and offer double the range.

Will they be cheaper, safer, or easier on the supply chain? Anybody's guess.

The company also announced that all plants shut down by a recent accident at a supplier will begin restarting today. By October 26th, the final lines will be back up and running.
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BMW’s Map App

Following their announcement to adopt Tesla's NACS tech, BMW says it will streamline EV drivers' find and pay process. With MINI and Rolls Royce, BMW will adopt the new app and tech in 2025 so drivers can locate a charging station and pay for their charging all in one app.

BMW's ChargeScape is a joint venture with Ford and Honda to build another 30K charging stations by 2030 focused on renewable energy sources and cost-effective charging.

So, while the hardware conforms to a single standard, some automakers hope to keep people using branded apps.
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Tesla’s Exaggeration Situation

Most people exaggerate a billion times a day, but when your exaggerations shape the stock market, it's a crime all of a sudden.

Tesla is under the microscope again. Following customer complaints, the DOJ is investigating inflated claims regarding Tesla battery ranges. The company has been canceling service appointments from customers coming to get their underperforming batteries checked out.

• The claims follow documented tests finding Tesla's estimates often surpass real-world numbers.
• Tesla range estimations are often higher than similar models by other brands.
• Tesla has already faced disputes over range and charge speeds.

At this point, we don't know what, if anything, the DOJ's probe will discover, but whatever it is, we will let you know in a future email.