Toyota is getting closer to electrifying the Hilux pickup vehicle, one of its best-selling models. The company unveiled the Hilux Revo BEV Concept, a totally electric variation of their well-known pickup truck. As part of the company's commemoration of 60 years of manufacturing in the country, the Hilux EV was presented in Thailand.
The Hilux Revo BEV Concept's introduction was understated, with Toyota reportedly just releasing two official photographs. From behind, the idea resembles its diesel-drinking relatives nearly exactly. A revised grille section with a smaller opening, new badging on the doors and tailgate, and the inclusion of a charging station on the passenger side behind the front wheel are the only noticeable visual modifications.
The bZ4X electric SUV's hardware may be used in the electric Hilux concept. Three prototype models made their debuts at the show, one of which being the Hilux Revo BEV Concept. In addition, Toyota Thailand displayed the IMV-0 Concept and an upgraded and lower Hilux Revo. On the same basis as the Hilux, the latter is a prototype light commercial vehicle made for urban commuters who require a rear bed. Toyota CEO and President Akio Toyoda thanked Thailand for its contribution to the brand's line-up and output while standing on stage with the Hilux BEV and IMV.
The announcement coincides with news that Toyota is speeding up its plans to produce electric vehicles to become more competitive and compete with companies like Tesla and BYD.
Tesla vs BYD
Both Tesla and BYD are rapidly expanding EV titans, but they are not without difficulties of their own. Tesla Shanghai reduced manufacturing earlier in December before ceasing production on Christmas Eve. Additionally, Tesla is providing several year-end discounts in the US and Europe. Despite strong sales, BYD claims that its manufacturing is being limited by Covid infections among factory workers.
With plug-in hybrids included, BYD sales have surpassed those of Tesla. With sales surging once again in November, it is catching up to BEVs in market share. BYD continues to establish additional facilities, and it soon intends to establish its first manufacturing outside of China in Thailand, Brazil, and Europe.
Tesla vs BYD Stocks
On indications of sluggish demand as well as worries about Elon Musk's statements regarding Tesla's reputation, Tesla stock has fallen precipitously in recent weeks. BYD stock is rebounding from bear market lows as China relaxed Covid regulations. However, due to the ensuing coronavirus outbreak, it is currently retreating.
With significant sales in North America, Europe, and China, Tesla is a worldwide EV juggernaut. Korea, Japan, Australia, and a few other Asian regions are where it does particularly well. It has four facilities, including ones in Austin, Texas, the Berlin region, Shanghai, and Fremont, California. Tesla already ships products, primarily from Shanghai to Europe. Although Tesla is now available in Thailand, it's not yet known when deliveries will begin.
Less Model Ys will be exported to Europe from the Shanghai production as the Berlin plant starts up, but Model 3 shipments are likely to continue. Even if Tesla's production is on the rise, there are no significant new markets or passenger EVs for it to enter soon.
Tesla vs BYD Batteries
Tesla does not manufacture battery cells in bulk. Tesla purchases off-the-shelf batteries from CATL in China and more frequently in the US. It is moving more and more towards lithium iron phosphate batteries. LFPs have some cost advantages, which have increased because, unlike lithium-ion batteries, they don't need cobalt or nickel.
Though the top-of-the-line Lucid Air has higher battery efficiency than Tesla, Tesla has long been a leader in getting more out of its batteries. In a test project, Tesla is creating its own 4680 battery cells. The batteries in the 4680 don't use any novel chemistry. Although there may be economic advantages with the larger form factor, there are still technological difficulties.
In contrast, BYD batteries are completely domestic. Among the safest EV batteries now on the market are the BYD Blade batteries, a specialist LFP battery. Additionally, BYD is developing sodium-ion batteries, which have a shorter range but are far less expensive. They might be beneficial for storage or short-range vehicles when energy density is less of a concern. Tesla Berlin is currently receiving Blade batteries from BYD. It's a significant endorsement for BYD, which wants to become a major battery supplier to independent automakers.