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...Tata Steel is receiving £500mn of state support to help its transition to producing green steel through electric arc furnaces, which are less carbon-intensive and require fewer workers....
...giant to taper its electric ambitions....
...Much of that growth came from China, where two-thirds of electric cars were already cheaper to purchase than their petrol equivalents, the IEA found....
...Thanks for reading — Patrick Temple-West Electric vehicles Tesla navigates slowing EV demand and a crowded field with an ‘affordable’ model Tesla’s share price jump this week highlighted how jumpy electric...
Driven to distraction
...The results come at a turbulent time for Musk and the electric vehicle sector....
...Thousands of imported vehicles, many of them electric cars made in China, are clogging up European ports....
...But they also want to know whether Elon Musk’s company is in the midst of a major change in direction, after reports that it was slowing plans for a cheaper $25,000 electric car — known unofficially as the...
...“By restructuring our UK operations, we will be able to sustain the business as we transition to new electric arc furnace technology,” it said....
...Elon Musk’s Tesla and Chinese rival BYD both reported sharp falls in electric car sales, adding to concerns of the slowing shift towards electric vehicles....
...With typical grandiloquence, he claims that turning the company’s electric fleet into autonomous vehicles could be “the biggest asset value appreciation in history”....
...Sales of battery electric vehicles (BEV) in Europe dropped 11.3 per cent year on year in March, the second fall in four months, according to figures this month. The timing of Easter played a part....
...Apple has cancelled its efforts to build an electric car as it pivots to focus research funding on generative artificial intelligence, according to a person familiar with the matter....
...Unlike blast furnaces, which use coke to produce iron from ore, electric arc furnaces melt down scrap and recycled steel....
...Electric arc furnaces, which melt down scrap steel, are less carbon intensive but also much less labour intensive. Tata said it expected the electric arc furnace to be operational by 2027....
...Electric arc plants use scrap steel, of which Britain has a surplus....
...After overtaking Tesla as the world’s largest electric-vehicle maker last year, BYD has started releasing higher end models, the latest being its Yangwang U9 electric sports car with that price tag, to try...
...arc furnace on the site....
...The UK’s other two main steelmakers — Celsa UK and Liberty Steel — already operate electric arc furnaces....
...But its status as the electric car champion — and one with a stock market valuation still dwarfing that of rivals — leaves Tesla particularly exposed....
...The company announced in January a consultation on its proposals to invest £1.25bn to build a state of the art electric arc furnace, which Tata has said would secure steelmaking in the UK....
...Facing one of the worst stock slumps in Tesla’s 14-year history, Elon Musk was under pressure this week to deliver a reassuring message to investors about its next generation of electric vehicles and a persuasive...
...As Peter Campbell laid out in the Financial Times yesterday: The global auto industry manufactured 10.5mn electric vehicles last year — and expects to produce 13.5mn this year . . ....
...GM has delayed plans to build electric versions of its Chevrolet Silverado and GMC Sierra trucks....
...In total, the UK has nearly 54,000 public charging points compared with 1mn fully electric vehicles, a ratio of just over 18:1....
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