Tag: Electric Vehicle

Tesla did it. The company launched its long-awaited robo-taxi service in Austin, Texas, on Sunday.

A group of Democratic Texas lawmakers has asked Tesla (TSLA.O), to delay its much-anticipated robotaxi launch in Austin until September, when a new autonomous-driving law is scheduled to take effect.

Ferrari (RACE.MI), has delayed plans for its second fully-electric model that was due out in 2026 to at least 2028, because of a lack of demand for high-performance luxury EVs, two sources close to the matter told Reuters.

The National Highway Traffic Safety Administration on Friday said it was streamlining reviews of requests filed by automakers seeking to deploy self-driving vehicles without required human controls like steering wheels, brake pedals or mirrors.

Tesla’s (TSLA.O),car sales fell sharply in several European markets including Sweden and Portugal in May, a fifth consecutive monthly decline that has been blamed on CEO Elon Musk’s political activities and an outdated model lineup.

China’s Xiaomi (OTC:XIACF) on Tuesday reported record first-quarter revenue and profit, as the company said its ongoing shift towards higher-end products from smartphones to home appliances was already paying off.

European sales of Tesla vehicles plunged in April, as the U.S. electric car maker continues to face reputational damage regionally and rising competition.

Shares in Chinese automakers such as BYD, Nio and Geely tumbled on Monday after industry leader BYD offered fresh incentives on over 20 models and the CEO of Great Wall Motors warned that the world’s largest auto industry was in an unhealthy state.

Despite incurring a higher tariff rate than Tesla, Chinese electric vehicle maker BYD sold more pure battery electric vehicles in Europe for the first time ever last month — a “watershed moment” for the region’s car market, according to a report from JATO Dynamics.

Tesla’s (TSLA.O), new car sales in Britain and Germany plummeted to their lowest in over two years in April, falling 62% and 46% year-on-year respectively, even as demand for electric vehicles rose in both countries, national data showed on Tuesday.

Chinese electric vehicle maker Xpeng delivered 35,045 vehicles in April, sustaining its record of delivering more than 30,000 vehicles for the sixth consecutive month.

China is delaying approval for plans by Chinese automakers Geely (GEELY.UL) and BYD (002594.SZ),  to produce cars in Latin America as U.S. tariffs fuel trade and economic uncertainties, two people with knowledge of the matter said.

Volkswagen Group’s sales of battery-electric cars more than doubled in Europe in the first quarter but fell by over a third in China, data showed on Wednesday, in a sign of the automaker’s diverging fortunes in the electric car market.

Tesla stock was down in premarket trading early Wednesday, just ahead of the company’s release of first-quarter delivery data.

Chinese electric automaker BYD said on Friday it signed a car parts distribution deal with Italian company Intergea, as part of its strategy to boost its presence in a key European market.

Chinese electric vehicle maker Nio plans to raise around HK$3.50 billion ($450.1 million) via a share placement to develop its smart EVs, a term sheet showed on Thursday.

China’s EV giant BYD recorded revenues of 777 billion yuan ($107 billion) for 2024, surging ahead Elon Musk’s Tesla in annual sales amid intensifying competition in the global market for clean-energy cars.

Chinese electric vehicle maker BYD’s net profit leapt 73.1% in the fourth quarter of 2024 to a record 15 billion yuan ($2.1 billion), it said on Monday, reaping the rewards of lower prices and higher sales than rivals.

NIO’s fourth-quarter net loss unexpectedly widened as higher costs outpaced sales growth after the carmaker launched two subbrands last year amid intensifying competition in China’s electric-vehicle market.

Tesla said Thursday it is recalling nearly all Cybertrucks in the United States to fix an exterior panel that could detach while driving, the latest in a series of call-backs for the pickup truck.