Tag: Electric Vehicle

BYD the Warren Buffett-backed company that overtook Tesla as the biggest maker of electric vehicles last year, may buy back twice as many shares as previously suggested as it tries to boost its stock price.

Tesla upgraded the self-driving hardware on its Model Y car it sells in China, Elon Musk’s automaker said on WeChat on Thursday.

Tesla stock was falling early Wednesday after a Delaware court late Tuesday voided CEO Elon Musk’s pay package, which awarded him some $300 million performance-based options. An analyst’s call to sell the stock isn’t helping either.

Tesla reported revenue growth of 3% in the fourth quarter, trailing estimates.

Chinese stocks slumped on Monday after the country’s central bank left interest rates unchanged, a decision that does little to inspire confidence among investors worried about a slowdown in the world’s second-largest economy.

Tesla has trimmed prices for its Model Y cars across Europe, not long after announcing similar price cuts for its Model 3 and Model Y vehicles in China.

Tesla Inc. shares dropped in early trading after the carmaker cut prices again in China and said its lone European factory will be disrupted by attacks in the Red Sea.

Another month, another record for Chinese battery electric vehicle sales.

Chinese electric car maker Nio on Saturday unveiled a flagship model featuring self-developed technologies including semiconductors, betting they would help prop up earnings, as a bruising price war and slowing car demand weigh on profitability.

STOCKHOLM, Dec 21 (Reuters) – Tesla faces an inquiry by Norway’s traffic safety regulator into suspension failures in the company’s electric cars that could result in a recall, the agency told Reuters.

The Biden administration is looking into increasing tariffs on Chinese electric-vehicle exports to improve the U.S.’s clean energy standing, according to a Wall Street Journal report.

Tesla cut prices for its electric cars in China by more than BYD did for its flagship Han sedan, according to analysis from U.S.-based firm JL Warren Capital.

NIO shares were climbing Monday after Chinese-electric vehicle maker said it would be receiving a further $2.2 billion investment from Abu Dhabi-based investor CYVN Holdings.

The problems at General Motors ’ robotaxi business are mounting. Key personnel are leaving and hundreds are being laid off. The company said, however, that the latest shake-up was needed to improve safety and rebuild public trust.

Tesla is recalling nearly all of the vehicles it sold in the U.S., more than 2 million across its model lineup, to fix a defective system that’s supposed to ensure drivers are paying attention when they use Autopilot.

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.