Elon Musk’s Vision for Tesla’s Trillion Dollar Future Elon Musk, the visionary CEO of Tesla, has consistently set ambitious goals for the company. Among his most audacious claims is that Tesla could potentially become a multi trillion-dollar company and even reach a valuation of $25 trillion, largely driven by theRead More →
Tesla shares climbed 12% in extended trading after the company’s third-quarter earnings beat Wall Street estimates, following a long slump. However, Tesla’s revenue for that period, up 8% year on year, marginally missed expectations. “Vehicle growth” will hit up to 20%-30% next year, said CEO Elon Musk, thanks to “lower cost vehicles” andRead More →
Electric car sales to private buyers are 6.3% lower so far in 2024 despite £2 billion of manufacturers discounts Electric car sales in the UK are facing challenges despite the growth in the number of electric vehicles (EVs) on the roads. The Society of Motor Manufacturers and Traders (SMMT) hasRead More →
On Friday 4th October 2024, the European Union voted to implement definitive tariffs on battery electric vehicles (BEVs) made in China ‘The European Commission’s proposal to levy definitive countervailing duties on imports of Chinese battery electric vehicles has garnered the requisite support from EU Member States to proceed with theRead More →
Tesla posted its third-quarter vehicle production and deliveries report on Wednesday 2nd October 2024 – the stock fell 3.7%. Total deliveries Q3 2024: 462,890 – Total production Q3 2024: 469,796 Analysts had projected Tesla would deliver 463,310 vehicles by the end of September 2024. However, other sources indicated a larger shortfall; the averageRead More →
In August 2024, Chinese electric car behemoth BYD set a new sales record for passenger vehicles, with hybrid models outpacing battery-only vehicles in growth. Zeekr, supported by Geely, experienced a rise in deliveries to 18,015 for August, although this was a decrease from the 20206 deliveries reported in June 2024.Read More →
Tesla’s shares dropped in U.S. pre-market trading following the electric car maker’s Q2 earnings report, which fell short of expectations. The company saw a 7% year-on-year decrease in automotive revenue for the June 2024 quarter, down to $19.9 billion, and a decline in its ‘adjusted’ earnings margin. Investors are dividedRead More →
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 →
Tungsten is a critically important rare earth metal, renowned for its unique and valuable properties. Tungsten has the highest melting point among all metals, which makes it exceptionally suitable for high-temperature applications. Key aspects of its importance Industrial and technological applications Tungsten is used in many industries where hardness, high density, high wearRead 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 EV named ‘Seagull’ sub $10,000 price tag. This vehicle will likely take-off! Global automakers are becoming increasingly concerned that Chinese competitors, such as the Warren Buffett-endorsed BYD, might saturate their EV market with cheaper EVs, potentially undermining local production and reducing vehicle prices. Concerns have been raised that thisRead 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 →