Tag: Electric Vehicle

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.

Tesla will open a showroom in Mumbai, India next week, marking the U.S. electric carmakers first official foray into the country.

Automakers are urging customers to snap up electric vehicles before a $7,500 U.S. tax credit goes away this fall.

Tesla shares fell in premarket trade on Monday after CEO Elon Musk announced plans to form a new political party.

Tesla’s (TSLA.O), new car sales in Britain rose year-on-year in June amid a broader recovery in the electric-vehicle market, data showed on Friday, as the U.S. auto maker started deliveries of its updated Model Y last month.

Wednesday morning, Rivian reported second-quarter sales of 10,661 vehicles, down 23% from the year-ago quarter, and reiterated its guidance for full-year sales between 40,000 and 46,000 vehicles.

Wednesday evening, the Lucid reported second-quarter sales of 3,309 vehicles, up 38% year over year, a record for any quarter. For the first half of the year, Lucid deliveries totaled 6,418, up almost 50%.

U.S. President Donald Trump suggested the government efficiency department should review the subsidies Tesla CEO Elon Musk’s companies have received in order to save money, reigniting a war of words between the world’s most powerful man and its richest.

Chinese electric-vehicle makers posted strong growth ahead of Tesla’s second-quarter deliveries.

Chinese electric vehicle champion BYD has slowed its production and expansion pace in recent months by reducing shifts at some factories in China and delaying plans to add new production lines, said two people with knowledge of the matter.

 Tesla’s (TSLA.O), new car sales in Europe fell 27.9% in May from a year earlier even as fully-electric vehicle sales in the region jumped 27.2%, with the U.S. EV maker’s revised Model Y yet to show signs of reviving the brand’s fortunes.