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...The company expected the factory to reach production of as many as 500,000 cars a year when it reached full capacity, the people said....
...Hertz has paused plans to buy tens of thousands of battery-driven cars from Polestar this year, the head of the electric vehicle brand said, after a collapse in resale values last year caused the rental...
...The IEA’s report added that the number of electric cars sold globally in the first three months of this year is “roughly equivalent to the number sold in all of 2020”....
...Cruise, the self-driving car subsidiary of General Motors, targeted annual revenues of $1bn by 2025. Last year, the business reported sales of just $102mn amid a $3.4bn loss....
...Tesla has already reported an 8 per cent fall in car sales in the first three months of the year compared with the same period in 2023....
...EVs are still more expensive to make than petrol cars, partly because of the high cost of minerals required for their batteries....
...Tesla has climbed out of bigger holes than this one in the past. But to do that it needs cheaper cars, not robotaxis. elaine.moore@ft.com...
...Tesla still makes more than 80 per cent of its revenue from selling cars....
...Apple’s decision to wind up its car project comes as it prepares to announce more details of its work in the fast-growing generative AI sector....
...The disposal of the retail unit, which has lower margins compared with its international car distribution arm, will help improve the group’s profitability....
...In Japan, hybrids accounted for 55 per cent of total sales of standard-sized passenger cars last year....
...Thousands of imported vehicles, many of them electric cars made in China, are clogging up European ports....
...In 2021, Cook called autonomy “a core technology, in my view”, adding: “If you sort of step back, the car, in a lot of ways, is a robot. An autonomous car is a robot....
...of the car industry.”...
...Tesla’s share in China’s EV and hybrid market segment fell from 7.7 per cent to 6.6 per cent in the first two months of the year, according to the China Passenger Car Association....
...Data from the China Passenger Car Association showed that Chinese sales of pure battery cars and plug-in hybrids, which the government counts as “new energy vehicles”, or NEVs, rose 36 per cent last year...
...with expectations of about 450,000 cars in the quarter....
...group battled increased competition, including from the recent arrival of Huawei in the car market....
...His first delivery was at the top of Pig Hill, one of the steepest in Pittsburgh. As he struggled up, drivers in cars rolled down their windows to tell him, “Good job.”...
...Waymo told the Financial Times that it had “a couple of hundred cars” in each of the three fully autonomous zones....
...The US company told the Financial Times there had been “no attack on or fire at the factory”, which is situated in the Brandenburg region south-east of Berlin and produces 6,000 cars a week....
...That could mean it’s only a matter of time until slowing wage growth lessens price pressure on, say, hospital or car repair inflation....
...Replacing him is Gil West, a former chief operating officer of Delta Air Lines and General Motors’ Cruise self-driving car unit....
...Electric-car maker Tesla registered expenses of about $2.4mn for its chief executive Elon Musk in 2023, with a further $500,000 spent in the first two months of this year....
...earlier, according to the China Passenger Car Association....
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