Tesla posted a record delivery quarter and got punished for it anyway, US EV prices fell for a sixth straight month, and Honda quietly gave up on the American EV market altogether. The bottom line: the industry is entering a normalization phase where volume no longer guarantees value, price is doing the work subsidies used to do, and the roster of credible players is being reshuffled — some legacy brands folding, Chinese and Korean manufacturers building capacity and cutting prices, and regulators on both sides of the Atlantic deciding EVs are now mainstream enough to tax and steer rather than merely encourage.
Tesla delivered 480,126 vehicles in Q2, up 25% year-on-year and ahead of forecasts, yet the stock fell nearly 8% as per-vehicle profit continued sliding toward Toyota-like territory.
KBB data puts the average US EV transaction price at $56,238 in June, down 4.5% year-over-year, with incentives running at roughly 13% of transaction price.
Honda told dealers its only US battery-electric model, the Prologue, ends after the 2026 model year; the related Acura ZDX is being killed too.
Governor Newsom signed SB 168, creating a $3,500 rebate for first-time EV buyers on vehicles up to $50,000 — but California-headquartered manufacturers are exempted from that price cap.
A battery defect prompted a safety recall across older IONIQ 5, EV9 and EV6 units, with owners told to park outside and away from structures until repairs are available.
BYD's luxury arm Denza revealed the Denza Z at Goodwood: over 1,500 hp, sub-2-second 0-60, priced around $190,000 in Europe.
The joint-venture gigafactory in Bartow County began cell production this month, eventually reaching 35 GWh of annual capacity — enough for roughly 300,000 vehicles.
The Treasury confirmed a new Electric Vehicle Excise Duty from April 2028: 3p per mile for battery EVs, 1.5p per mile for PHEVs, replacing the current zero-rate exemption.
The first EX60s reached customers this week, with the range-topping P12 configuration rated above 500 miles — in a mainstream SUV priced in the mid-fifties.
Xpeng launched the L03 SUV-coupe in Germany at EUR 34,990 — undercutting the comparable Model Y — and it ships with Google Maps Auto SDK.
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