Tag: Electric Vehicle

Chinese car maker BYD will make its largest recall yet of more than 115,000 Tang series and Yuan Pro vehicles produced between 2015 and 2022 due to design defects and battery-related safety risks, China’s market regulator said on Friday.

Hong Kong-listed shares of Nio plunged nearly 9% after Singapore’s sovereign wealth fund GIC sued the Chinese electric vehicle maker for allegedly violating securities laws by inflating its revenues.

Chinese tech giant Xiaomi saw its shares fall over 5% on Monday, following reports that the doors of one of its electric vehicles failed to open after a fiery crash in China that left one person dead.

Shares of Chinese battery makers plunged on Friday after the country announced that it would control exports of lithium battery parts, a move that tightens its grip on the technology critical for energy storage and electric vehicles.

Chinese electric carmaker BYD sold 11,271 cars in the U.K. last month, the company said on Monday, representing year-on-year growth of 880%.

Tesla reports global electric-vehicle deliveries on Thursday, with the company trying to return its car business to growth for the first time in 2025.

Porsche (P911_p.DE), shares were down 7.5% by late morning on Monday after the carmaker dialled back its electric vehicle rollout and cut guidance in a costly strategy reversal prompted by weak demand.

Tesla shares jumped after CEO Elon Musk disclosed Monday his first purchase of the stock in the open market since February 2020.

Tesla is asking investors to approve yet another outsized pay plan for CEO Elon Musk, according to a financial filing out Friday.

BYD (002594) stock plummeted on Monday after the Chinese electric-vehicle maker reported a big slump in its quarterly profit, dented by a brutal price war.

Sales of Tesla cars in Europe plunged in July, in the company’s seventh consecutive month of declines, while Chinese rival BYD saw a monthly surge, data released on Thursday showed.

Shares of Chinese electric carmaker Nio surged after the company unveiled one of its most affordable vehicles yet, underscoring the fierce price war in the domestic market.

Chinese EV maker XPeng said Tuesday that it narrowed its losses as revenue more than doubled in the second quarter. XPeng said it lost 477.8 million renminbi ($66.7 million), vs. 1.28 billion renminbi in the year-earlier quarter, as revenue doubled to 18.27 billion renminbi ($2.56 billion) from 8.11 billion renminbi.

Tesla Inc (NASDAQ:TSLA) is offering discounts of up to 40% to car leasing firms in the UK to shore up sliding sales, The Times reported on Monday, as Elon Musk’s electric vehicle maker grapples with a rapidly shrinking market share across the globe.

China’s market regulator has released draft guidelines aimed at enhancing oversight of smart connected electric vehicles, focusing on recalls, supervision, and advertising practices.

Tesla (TSLA.O), has granted 96 million new shares worth about $29 billion to CEO Elon Musk, a move aimed at keeping the billionaire entrepreneur at the helm as he fights a court ruling that voided his original pay deal for being unfair to shareholders.

Tesla has selected Samsung to manufacture some of its artificial-intelligence chips. The decision is moving a lot of stocks early Monday, including shares of the electric-vehicle maker.

Tesla reported a 16% decline in automotive revenue as sales fell for a second straight quarter and again trailed analysts’ estimates.

 Uber (UBER.N), will invest $300 million in electric vehicle maker Lucid (LCID.O), in a robotaxi deal that aims to start with one major U.S. city late next year, the companies said on Thursday.

Elon Musk on Monday said he does not support a merger between xAI and Tesla, as questions swirl over the future relationship of the electric automaker and artificial intelligence company.