Tag: Electric Vehicle

Chinese electric vehicle maker NIO  could spin off its battery production arm by the end of this year, Reuters reported, citing unidentified people familiar with the plans.

BEIJING/SHANGHAI, Dec 4 (Reuters) – Sales of U.S. automaker Tesla’s (TSLA.O) China-made electric vehicles (EVs) skidded 17.8% in November from the same month a year earlier, to 82,432 cars, China Passenger Car Association (CPCA) data showed on Monday.

BEIJING, Nov 29 (Reuters) – Chinese automakers Nio and Zhejiang Geely Holding Group said on Wednesday they had signed a strategic partnership agreement on battery swapping that would see them work together on standards, technology and model development.

LONDON, Nov 21 (Reuters) – New car sales in the European Union rose 14.6% in October, boosted in part by a big jump in sales of fully electric cars, while hybrid electric vehicles accounted for nearly three of every 10 vehicles sold in the economic bloc.

China’s Nio plans to trim its workforce by 10% this month as it moves to improve efficiency and reduce costs in the face of growing competition, the electric vehicle maker said on Friday.

Oct 20 (Reuters) – New car sales in the European Union rose 9.2% in September, helped by a jump in sales of electric and hybrid vehicles, which together accounted for more than half of car sales last month, industry data showed on Friday.

Tesla cut the price of some Model 3 and Model Y versions in the U.S. after the company reported third-quarter deliveries that missed market expectations.

Oct 4 (Reuters) – Electric-vehicle maker Rivian Automotive (RIVN.O) on Wednesday said it plans to sell convertible green bonds worth $1.5 billion and forecast quarterly revenue to rise in line with estimates.

Tesla plans to install 20,000 electric vehicle charging stations across 2,000 Hilton properties in the U.S., Mexico and Canada beginning next year, the companies said Thursday.

Shares of Vietnamese electric-vehicle maker Vinfast surged 30% in premarket trading on Monday, extending a rally from last week that more than quadrupled its market value to $160 billion.

Chinese electric car company Xpeng said Monday it is buying Didi’s smart electric car development business in an exchange of shares worth $744 million.

Chinese EV maker Xpeng expects cost cuts and its Volkswagen partnership to boost the firm’s bottom line, its co-president told CNBC on Monday.

Xpeng on Friday reported a wider-than-expected loss in the second quarter, sending the Chinese electric car maker’s shares down more than 7% in premarket U.S. trade.

Tesla has cut prices for its existing inventories of its premium Model S and Model X cars in China by as much as 6.9%, it said on Wednesday.

Tesla rolled out cheaper versions of its Model S and Model X vehicles in the U.S. as competition in the electric vehicle space continues to ramp up.

Tesla  is discounting in China and cutting prices—again. New reductions have shares down in early trading Monday and will lead to more questions about price wars and demand for electric vehicles in the world’s largest market for new cars.

The EV start-up Rivian Automotive delivered second-quarter results that beat Wall Street estimates and raised its forecast for production for the full year. Shares were falling in after-hours trading anyway.

Luxury electric vehicle maker Lucid Group reported that its second-quarter revenue fell short of Wall Street’s expectations after it delivered fewer of its Air luxury sedans than expected during the period.

Lucid Group has lowered the prices of its Air luxury sedans. The electric-vehicle maker’s move could sharpen its challenge to industry leader Tesla in the high-end EV segment.

Early results for Chinese electric-vehicle deliveries have been released. They were excellent. That’s a positive for Tesla , BYD , and other auto makers selling battery-powered vehicles in the world’s largest new car market.