Electric Vehicles

Out of juice: Chinese EV company Byton suspends operations, lays off staff

It looks like it's the end of the line for Byton.

Photo courtesy of Byton

Lucid, Faraday Future, Byton, Rivian. One by one electric vehicle companies debuted over the last few years promising big innovation and a revolution to the mobility industry. Now, another one looks like it's biting the dust.

Byton recently announced that it is suspending operations for the next six months and letting go most of the staff that remained after they laid off about half of its 450 U.S.-based employees in April.

Byton M-Byte The electric vehicle market is getting increasingly competitive.Photo courtesy of Byton

Byton spokesman Dave Buchko told TheDetroitBureau.com, "The company is going to suspend operations on July 1 for six months ... the board of directors and top management are looking to find a way to move the company forward."

The company was founded in 2017 by a group of former Nissan and BMW executives. More than $800 million was eventually raised for the venture from three rounds of funding efforts, much of it coming from China. Byton recently completed their assembly plant and was given a license to produce vehicles by the Chinese government.

The company made its biggest industry waves when it debuted an all-electric vehicle at CES in 2019 that featured a 48-inch video display that ran from driver to passenger across the dashboard. In 2020, they showed off an electric utility vehicle at the same event.

Despite a diversified portfolio of investors from global markets, Byton looks to not have been able to sustain the company in the face of the COVID-19 pandemic.

Byton M-Byte The company's 48-inch screen made waves when it was revealed.Photo courtesy of Byton

Byton was already facing an uphill battle in the marketplace. The industry's heaviest hitters are looking to infuse the global market, and especially the Chinese market, with a bevy of battery electric vehicles in the coming year.

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Lamborghini is accelerating its path toward an all-electric future.

Photo courtesy of Lamborghini Automobili

Lamborghini plans to electrify its lineup and now we know how fast that process will be going and what the company won't be focusing on. In a presentation, Stephan Winkelmann, President and CEO of Automobili Lamborghini, detailed that the super luxury automaker will "focus continually on identifying technologies and solutions that guarantee top performance and driving dynamics" rather than fuel economy. Those words are magic to enthusiasts ears.

"Lamborghini's electrification plan is a newly-plotted course, necessary in the context of a radically-changing world, where we want to make our contribution by continuing to reduce environmental impact through concrete projects," said Winkelmann. "Our response is a plan with a 360 degree approach, encompassing our products and our Sant'Agata Bolognese location, taking us towards a more sustainable future while always remaining faithful to our DNA."

The three-phase approach to electrification starts this year. From 2021 to 2022, Lamborghini will focus on "presenting models paying tribute to the company's recent period of continuous success". Expect two new cars in the V12 model line-up to be announced this year.

By the end of 2024, the hybrid transition for the automaker will be well underway. In 2023 Lamborghini will launch its first hybrid series production car and by the end of 2024, the entire range will be electrified. The company's internal target for this phase is to reduce product carbon dioxide emissions by 50 percent by the beginning of 2025.

In this second phase, Lamborghini is committed to keeping the drive experience in focus as well as the application of carbon fiber materials, which the company sees as crucial in developing their new product lineup.

Lamborghini is committing to bringing the company's first fully-electric car to the market in the second half of the 2020s with a number of electric vehicles on the horizon. The automaker expects to introduce a fourth model.

The automaker has initiated an investment of 1.5 billion euros to create the pathway to electrification. The money will be spent over four years time.

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Tesla claims that its Cybertruck will go into production this year.

Photo courtesy of Tesla, Inc.

In a presentation to investors this morning, Ford Motor Company revealed that it has received 70,000 reservations for its just-debuted F-150 Lightning electric truck. Its on-paper chief rival, the Tesla Cybertruck, has over one million according to data acquired by Finbold. Rivian, who is nearly ready to start production of its R1T all-electric truck, has over 30,000 reservations, according to reporting by InsideEVs.

Reservations are not orders or sales though they do serve as an indicator of the buying public's enthusiasm for a new model. More and more automakers are switching to online reservations to gauge buyer interest, determine proper product mix, and stay in touch with clients on a more personal level. Hyundai did this with the 2022 Tucson and Ford has successfully used it to launch the Mustang Mach-E.


2022 Ford F-150 Lightning The 2022 Ford F-150 Lightning has an all-electric powertrain in its familiar body. Photo courtesy of Ford Motor Company

Tesla opened reservations for the Cybertruck immediately following its debut around the same time as the 2019 Los Angeles Auto Show where the Mustang Mach-E also debuted. Last July, Finbold revealed that their data showed that there were around 650,000 reservations. In 2018 and 2019 Tesla produced 612,120 vehicles.

Finbold's fresh research indicates that as of May 25, 2021, estimated Cybertruck reservations had reached 1.08 million. That number is more than the 866,750 total vehicles delivered by Tesla in two years between 2019 and 2020.

Though construction at the future home of the Cybertruck, Tesla's Austin, Texas plant, is ongoing, Tesla no longer features the Cybertruck alongside its existing models. The truck's homepage is currently housed in a "see more" style hamburger menu as a singular link alongside the Roadster and Semi. The Cybertruck was originally slated to begin production later this year.

The F-150 Lightning is expected to reach consumers ahead of the Tesla Cybertruck despite the fact that the Cybertruck was unveiled years ahead of the F-Series model. Both have fully electric powertrains. Ford will also offer the electric truck in a fleet version.

Ford has given more specifics about the 2022 Ford F-150 Lightning than Tesla has about the Cybertruck. It will look much like a traditional F-150 but have an electric powertrain that gives it a maximum of 563 horsepower and 773 pound-feet of torque. The truck is being built to be capable of towing though doing so will likely decrease the truck's 300-mile maximum range considerably.

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