Following a dismal beginning to 2024, Tesla’s stock has experienced a sharp rally, erasing its losses for 2023. Tesla’s shares ended on Friday at $251.55, marking a 27% increase for the week. The automaker announced on Tuesday 2nd July 2024 that its second-quarter vehicle deliveries surpassed forecasts. Tesla 5-day chartRead More →
In a significant development that may affect the electric vehicle (EV) market, the European Union (EU) has tentatively agreed to levy tariffs on Chinese EV manufacturers. This decision reportedly follows an inquiry into the surge of inexpensive, government-subsidized Chinese vehicles entering the EU market. From 4th July 2024, Chinese EVRead More →
This expansion occurs as the European Union investigates subsidies provided to Chinese electric vehicle manufacturers, a situation that may lead to the imposition of tariffs. In May 2024 Nio opened a new EV showroom in Amsterdam, while Xpeng introduced its G9 and G6 sports utility vehicles in France. Over theRead More →
Chinese automotive giant BYD has experienced a decline in profits amid a slowdown in electric vehicle (EV) demand and a price war in the largest car market globally. The company reported earnings of $630 million (£502 million) for the first quarter, a drop of over 47% from the previous quarter.Read More →
The company intends to reduce its global workforce by over 10%, amounting to roughly 14,000 employees As of December, Tesla had a total of 140,473 employees worldwide. This decision is believed to be a response to the obstacles Tesla is encountering with slowing growth and operational effectiveness and cheaper competition. In anRead More →
The CEO of Tesla, Elon Musk recently made an announcement regarding the company’s robotaxi. According to his social media post on X, Tesla will unveil its robotaxi product on 8th August 2024. This project has been a topic of discussion for several years and could potentially represent a significant new business venture for Tesla. Read More →
The tyre industry is marked by fierce competition, static growth, and slim profit margins. But that is about to change. In recent years, the total market value has consistently hovered around $50 billion, with an annual growth rate of approximately 2%, according to research. However, the advent of electric vehiclesRead More →