11 min
BYD’s Strategic Move, Advanced EV Tax Credits, Returning Vision Pro The Automotive Troublemaker w/ Paul J Daly and Kyle Mountsier
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- Business
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It’s Thursday and we’re talking about Ford’s comments on BYD’s strategic move to North America. We also cover the IRS’ issuance of advanced tax credits as well as Apple fans returning their VisionPro headsets.
China's electric vehicle giant, BYD, is reportedly making a strategic move by setting up a new EV factory in Mexico, aiming to turn it into an export hub for the U.S. market and worrying many in the industry.The company is conducting a feasibility study and negotiating with Mexican officials about the factory's location and other terms.This move is part of BYD's global expansion strategy, complementing its dominant presence in the Chinese market.Last month, Elon Musk said that Chinese automakers will "demolish" global rivals without trade barriers.A forthcoming report by the group Alliance for American Manufacturing says "The introduction of cheap Chinese autos… backed with the power and funding of the Chinese government… could end up being an extinction-level event for the U.S. auto sector."On Wednesday, Marin Gjaja, COO of Ford’s EV unit, Model e, spoke about the ‘colossal strategic threat’ of Chinese EVs: “They are ahead of us in this technology… We look at that and say, ‘That’s coming here eventually, so we’d better get fit now and better get going on EVs or we don’t have a future as a company.’”The U.S. government has dished out $135 million in advance EV tax rebates since the start of this year, marking a significant shift in consumer electric vehicle tax credit processingPrior to 2024, EV credits were claimed on tax returns the following year. From Jan. 1, these can now be transferred to dealers at the sale time, reducing purchase prices.The IRS reported over 25,000 sale time reports, with 78% involving advance payment requests, totaling around $135 million paid to dealers.New EVs account for 17,500 of the advance payment requests, with used vehicles making up 2,000. Over 11,000 U.S. auto dealers are now registered for the program.Just weeks after its launch, a notable number of users are returning their $3,500 Apple Vision Pro headsets, citing discomfort and limited applicability.Most complaints are primarily about comfort issues like headaches and motion sickness due to the headset's design.Parker Ortolani from The Verge reported a burst blood vessel in his eye after using the headset, highlighting health concerns associated with its use.Apart from physical discomfort, users also cite the headset's limited productivity and entertainment applications as reasons for their dissatisfaction.Concerns around file compatibility and multitasking inefficiencies further dampen the user experience, as noted by Google's senior manager Carter Gibson.Hosts: Paul J Daly and Kyle Mountsier
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JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/
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Shoot us a Text.
It’s Thursday and we’re talking about Ford’s comments on BYD’s strategic move to North America. We also cover the IRS’ issuance of advanced tax credits as well as Apple fans returning their VisionPro headsets.
China's electric vehicle giant, BYD, is reportedly making a strategic move by setting up a new EV factory in Mexico, aiming to turn it into an export hub for the U.S. market and worrying many in the industry.The company is conducting a feasibility study and negotiating with Mexican officials about the factory's location and other terms.This move is part of BYD's global expansion strategy, complementing its dominant presence in the Chinese market.Last month, Elon Musk said that Chinese automakers will "demolish" global rivals without trade barriers.A forthcoming report by the group Alliance for American Manufacturing says "The introduction of cheap Chinese autos… backed with the power and funding of the Chinese government… could end up being an extinction-level event for the U.S. auto sector."On Wednesday, Marin Gjaja, COO of Ford’s EV unit, Model e, spoke about the ‘colossal strategic threat’ of Chinese EVs: “They are ahead of us in this technology… We look at that and say, ‘That’s coming here eventually, so we’d better get fit now and better get going on EVs or we don’t have a future as a company.’”The U.S. government has dished out $135 million in advance EV tax rebates since the start of this year, marking a significant shift in consumer electric vehicle tax credit processingPrior to 2024, EV credits were claimed on tax returns the following year. From Jan. 1, these can now be transferred to dealers at the sale time, reducing purchase prices.The IRS reported over 25,000 sale time reports, with 78% involving advance payment requests, totaling around $135 million paid to dealers.New EVs account for 17,500 of the advance payment requests, with used vehicles making up 2,000. Over 11,000 U.S. auto dealers are now registered for the program.Just weeks after its launch, a notable number of users are returning their $3,500 Apple Vision Pro headsets, citing discomfort and limited applicability.Most complaints are primarily about comfort issues like headaches and motion sickness due to the headset's design.Parker Ortolani from The Verge reported a burst blood vessel in his eye after using the headset, highlighting health concerns associated with its use.Apart from physical discomfort, users also cite the headset's limited productivity and entertainment applications as reasons for their dissatisfaction.Concerns around file compatibility and multitasking inefficiencies further dampen the user experience, as noted by Google's senior manager Carter Gibson.Hosts: Paul J Daly and Kyle Mountsier
Get the Daily Push Back email at https://www.asotu.com/
JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/
Read our most recent email at: https://www.asotu.com/media/push-back-email
11 min