Tag: Electric Vehicle

Tesla is yet to receive regulatory permission to launch its FSD product in Europe and China, but Musk in July said that he expects to get this clearance by the end of 2024.

Chinese electric car giant BYD sold a record number of passenger vehicles in August, with sales of hybrids growing faster than those of battery-only cars.

The European Union on Tuesday said planned tariffs on Tesla vehicles being imported from China would be cut to 9% from 20.8%, while also reducing a number of planned import duties on other Chinese electric vehicle firms.

Rivian has temporarily suspended production of its commercial delivery vans used by retail giant Amazon.com  due to a shortage of parts, a spokesperson for the electric vehicle manufacturer said on Friday.

Rivian on Tuesday stuck to its forecast that production would not rise this year and said deliveries in the third quarter would be slightly lower, as the EV maker races to rebuild inventory after a factory shutdown in April designed to cut costs.

U.S. automaker Tesla’s sales of China-made electric vehicles rose 15.3% from a year earlier to 74,117 units in July, data from the China Passenger Car Association (CPCA) showed on Friday.

 Uber and Chinese automaker BYD announced a multi-year partnership on Wednesday aimed at bringing 100,000 new electric vehicles to the ride-hailing platform globally.

Tesla reported weaker-than-expected earnings for the second quarter as automotive sales dropped for a second straight period. The stock slid more than 8% in extended trading

Tesla shareholders will appear in court on Monday to argue that an unprecedented request for more than $7 billion in attorneys’ fees to be paid by the company is “outlandish,” the latest twist in a legal showdown over Musk’s $56 billion pay package.

China announced on Friday the next step in its anti-dumping investigation into European brandy imports, ramping up tension on the same day the European Commission’s provisional tariffs on Chinese-made electric vehicles take effect.

Turkey will soon unveil an agreement with Chinese electric-car maker BYD Co. for the construction of a $1 billion plant in the west of the country, Turkish officials said.

The European Union will impose tariffs of up to 37.6% from Friday on imports of electric vehicles made in China, EU officials said, ratcheting up tensions with Beijing in Brussels’ largest trade case yet.

Tesla shares saw more gains in premarket trading Wednesday, after jumping 10% in the previous sessions following the release of second-quarter vehicle production and deliveries figures that beat analyst expectations.

China’s BYD posted a 21% rise in second-quarter electric vehicle sales, closing the gap with Tesla after handing back the world’s top EV vendor title to the U.S. rival in the first quarter.

Tesla is expected to report second-quarter deliveries on Tuesday. For the second quarter, the most current Wall Street estimates point to about 420,000 cars delivered, down from some 466,000 delivered in the second quarter of 2023.

Geely-owned Zeekr delivered 20,106 cars last month, bringing year-to-date deliveries to 87,870 vehicles. That’s slightly more than Nio’s 87,426 deliveries for the first six months of 2024, although Nio continued to recover from sluggish performance earlier in the year with a record 21,209 deliveries in June.

Electric vehicle (EV) maker Polestar said it will have to take steps to offset hefty EU and U.S. import tariffs on its Chinese-made electric cars as it posted a first-quarter operating loss on Tuesday.

Rivian (RIVN) shares surged in premarket trading Wednesday after the EV maker announced a joint venture deal with Volkswagen (VWAGY), crucially bringing fresh capital into Rivian’s coffers.

Nissan Motor will produce electric vehicles for its Chinese joint-venture partner Dongfeng Motor at its Wuhan factory by year-end, the Nikkei newspaper reported on Tuesday, a sign of pressure on the automaker’s China business.

Beijing wants the EU to scrap plans to impose preliminary tariffs on Chinese electric vehicle imports by July 4, China’s state-controlled Global Times reported, after both sides agreed to negotiate a possible compromise.