In today's issue:

The EU's PHEV exemption was never intended as a permanent carve-out, and the data made that obvious fast. BYD's move toward pure-electric European exports suggests the company read the room before the announcement.

North America Lost More Than a Quarter of Its EV Buyers in a Year: Global EV and PHEV sales grew just 0.9% year-over-year, per Carscoops, with Europe's 23% surge masking a greater-than-25% collapse in North American EV buyers. That makes the Manheim used-EV wholesale index's 13.7% year-over-year gain, reported by CBT News, an odd signal: fewer new-EV buyers, but second-hand EV prices rising at more than six times the rate of non-EV used vehicles. #market

Porsche Killed the Taycan Wagon for the US After Spending Years Selling Americans on It: Both the Taycan Sport Turismo and Cross Turismo are gone from the US lineup after the 2026 model year, per Carscoops and AutoGuide. The 2027 Taycan update does add NACS charging and simulated gear shifts. Per Motor1, production continues for every other market, which means the US decision is demand-driven rather than capacity-driven. #market

GM Is Pulling the Silverado 1500 Out of Canada's Oshawa Plant Before Year-End: GM is on course to end light-duty Silverado production at Oshawa Assembly in 2026, per Automotive News and Carscoops; the plant already dropped from three shifts to two in January. Oshawa would be left building only the heavy-duty Silverado (Silverado HD), a steep contraction for a plant that was retooled at significant cost just years ago. #analyst

The EU is closing the PHEV loophole that let Chinese brands sidestep last year's BEV duties. Two other items today show what the decoupling effort is built on: Ford's path to a sub-$30,000 American electric truck runs through CATL, the same Chinese supplier that built BYD's technology base. And Li Auto enters Europe in the second half of the year regardless of the tightening tariff environment. The West can raise tariffs on Chinese vehicles or source the technology that makes competitive EVs possible. Right now, it is doing both.

Ford Has Started Making Its Own LFP Battery Cells in the US, Using CATL's Blueprints: Ford has officially begun producing lithium iron phosphate cells at its Michigan facility using CATL technology, targeting a sub-$30,000 electric truck, per Autoblog. The setup is designed to sidestep the foreign-entity-of-concern restrictions that blocked the original BlueOval SK CATL plan, though the technology origin remains Chinese. #analyst

Li Auto Is Entering Europe in the Second Half of 2026 to Chase Audi, BMW, and Mercedes: CEO Li Xiang confirmed the European launch timeline on the company's May 28 earnings call, per Automotive News Europe, marking the premium Chinese brand's first expansion beyond Asia. The entry lands the same week the EU prepares new tariffs on Chinese vehicles, which the brands are clearly not reading as a stop signal. #analyst

Ferrari's July 4th Reveal Is Reportedly a 12Cilindri With a Real H-Pattern Manual: The model expected to debut July 4 is believed to be the 12Cilindri MM, a special edition of Ferrari's V12 grand tourer fitted with a traditional H-pattern manual gearbox, per autoevolution. Ferrari trademarked both the 12Cilindri GTO and F80 XX monikers recently, so a GTO badge remains in play alongside the MM name. #enthusiast

Porsche Commissioned a Custom Taycan Wagon With a Paint Job That Took Hundreds of Hours: The Taycan Turbo S Sport Turismo Soho House One is a Sonderwunsch one-off built in collaboration with the Soho House design firm, featuring a bespoke matte green paint and burl wood trim, per Carscoops. Porsche unveiled it the same week it killed the wagon variant for US buyers, which is a timing choice.

Waymo Recalled 3,871 Robotaxis After They Drove Into Active Freeway Construction Zones: Fifth-generation Waymo vehicles failed to recognize ramp closures in Phoenix and California and continued into active work zones, per CBT News and Just Auto. The fix is an OTA software update and new operational procedures, per Autoblog. Waymo filed the action with NHTSA. If you use Waymo: the OTA update is automatic, but the NHTSA filing is public record at nhtsa.gov. #news

Toyota Recalled 16,000 Model-Year 2026 bZ and Lexus RZ Vehicles for Sudden Power Loss: The electric drive system can shut down without warning while driving, per CarComplaints; Toyota says power brakes and steering remain operational, but the car will not move. → If you own one: Contact your Toyota or Lexus dealer for a service appointment and check nhtsa.gov for the official recall number and repair timeline. #news

BMW Says Nearly Half of All M5 Sales Are Now the Touring Wagon Variant: The M5 Touring is running at close to 50% of total M5 volume, per Car and Driver, and BMW says it hasn't ruled out more fast wagons for the US.

Ford Is Suing a California Lemon Law Firm for Billing $950/Hour for $13/Hour Overseas Work: Ford alleges one firm billed attorney-rate fees for work performed in Mexico and the Philippines by workers earning as little as $13 an hour, per Carscoops.

Yesterday's picks

Rivian Launches the R2, Drops Its Profit Target, and Cuts 300 Jobs in the Same Week: Rivian abandons 2027 profit target and cuts service staff just after R2 launch.

Ford Re-Recalls 100,000 F-150s Because the First Fix Didn't Take: Ford's internal audit reveals remedy failures, adding to 50 recalls this year.

Carvana Bought 7 Stellantis Dealerships and Is Now Selling New Cars: Digital used-car giant enters new-vehicle retail, challenging traditional dealers.

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