This week in the EV industry was nothing short of eventful. From Foxconn unveiling a new electric vehicle to rival Tesla Inc., to BYD Co., Ltd. breaking its sales slump and Tesla potentially reaping benefits from a Canada-China EV deal, there’s a lot to catch up on.
Here’s a quick recap of the top stories.
Foxconn’s New EV Takes On Tesla’s Model Y
In a bid to challenge Tesla’s dominance, Foxconn recently launched the Cavira, its latest electric vehicle under the Foxtron joint venture with Yulon Group. The Cavira boasts more interior space and an estimated range of 359 miles, outperforming the Model Y Standard Rear-Wheel Drive’s 321 miles.
BYD Breaks Sales Slump As Overseas Demand Surges
Chinese automaker BYD reported a 0.3% growth in global sales for May, marking an end to a decline that had persisted since July 2025. The company sold 160,644 units overseas in May, a whopping 80.4% YoY growth. However, domestic sales remain a challenge due to efforts by the Chinese Communist Party to end the domestic price war.
BYD Leads China’s Global EV Push
BYD, the world’s largest EV builder, reported an 81% YoY jump in overseas sales in May. The company’s 160,177 overseas units accounted for 42% of total sales. Meanwhile, Chery, China’s largest vehicle exporter, delivered three times as many vehicles overseas as at home last month.
Foxconn’s Cavira Challenges Tesla’s Model Y
Foxconn’s Cavira, a new entrant in the EV market, is set to compete with Tesla’s Model Y. The vehicle offers more interior room and a longer range, potentially appealing to consumers seeking comfort and extended driving capabilities.
Tesla Could Benefit from Canada’s China EV Deal
An agreement between Ottawa and Beijing could see an influx of over 49,000 Chinese-made EVs in the Canadian market, potentially benefiting Tesla. This news comes amid a European sales rebound for the Elon Musk-led EV maker, which sold over 9,169 units in April, a 67.2% surge YoY.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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