BYD launches its first hybrid vehicle in Brazil

Chinese automaker BYD has launched its first Brazilian-made plug-in hybrid flex-fuel car after a two-year investment of 100 million reais ($19.6 million). The Song Pro Super-Hibrido Flex Fuel, which hit dealerships across Brazil on Wednesday, features a powertrain that can run on electricity, gasoline or ethanol. Built at BYD's Camacari plant in northeastern Bahia state, the SUV also meets the company's goal of using more than 50 percent of local parts for all Brazilian-made vehicles by January 2027. Initially established in Brazil as an assembler of semi-knocked-down vehicles, BYD is shifting to local production to comply with Brazilian regulations and establish the country as a regional export hub.

Brighter outlook as Honda raises forecast

Japan's second-biggest automaker, Honda, lifted its full-year operating profit forecast on Wednesday by 30 percent to 650 billion yen ($4.1 billion) from 500 billion yen, citing a revised exchange-rate assumption. It also raised its net profit and revenue outlooks. Operating profit more than doubled to 530.8 billion yen in the April to June quarter from 244.2 billion yen a year earlier, well above the 302.1 billion yen median estimate in an LSEG poll of nine analysts. It was the carmaker's first quarterly profit rise in six quarters. The results come after the struggling automaker posted its first annual loss in nearly 70 years in May, hit by more than $9 billion in costs to restructure its electric-vehicle business.

Nine months of growth recorded by Tesla

Tesla's China-made electric vehicle sales rose 37.8 percent in July from a year earlier, marking the ninth straight month of growth as the US automaker reports a mixed performance across its markets. Sales of Model 3 and Model Y vehicles from its Shanghai plant totaled 93,579 units in July, up 5 percent from June. Tesla posted mixed July registration results across Europe even with the broader continental EV market staging a rebound, with strong gains in France and Denmark outweighed by sharp declines in Norway and Sweden. Competition from Chinese EV makers continues to mount, with BYD posting higher global sales for a third straight month in July, helped by robust exports, particularly to Europe.

Budget electric models are delayed by Lucid

Lucid plans to launch cheaper EVs in the second half of 2027, delaying the planned rollout from late 2026, as the company carries out a major business review and cuts costs. The EV maker's shares were down about 8 percent after the bell. As part of what the company called an "operational reset", Lucid is aiming to save $1.4 billion in cash this year, primarily by cutting production and inventory after posting mounting losses in the second quarter.

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