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...Tesla’s price per vehicle, excluding regulatory credits and leasing or finance income, was $38,924....
...Analysts say that market conditions have improved for Chinese offshore equities this year....
...The boycotts, largely fuelled by social media, have been so effective that private equity heavyweights General Atlantic and CVC Capital Partners have had to call off multimillion-dollar stake sales in the...
...Thousands of imported vehicles, many of them electric cars made in China, are clogging up European ports....
...Gil West, a former chief operating officer of Delta Air Lines and General Motors’ Cruise self-driving car unit, will be replacing him. Instead of enjoying a boom, Hertz is in trouble again....
...Sales growth of electric cars has slowed in the past year, with carmakers increasingly forced to discount models in order to generate sufficient consumer demand, while companies from General Motors and Ford...
...Ford and General Motors have paused plans to expand their EV manufacturing capacity in recent months, and last week Rivian announced that it would cut 10 per cent of its workforce and keep deliveries flat...
...Recently it has signed contracts with several rivals, including Ford, General Motors and Rivian, to use its NACS charging standard....
...The electric-car maker’s market value jumped 787 per cent to $669bn by the end of that December, but has since slipped back to $589bn....
...The results come at a turbulent time for Musk and the electric vehicle sector....
...“This transition to road user charges is about fairness and equity....
...The news is another sign of tougher conditions for the electric vehicle sector. Rivian went public in late 2021 with a market capitalisation of more than $100bn — bigger than Ford and General Motors....
...General Motors and Tesla have paused some of their EV expansion plans....
...My point is more general....
...A number of EV makers have recently scaled back expansion plans, including Ford and General Motors, while rental group Hertz is selling one-third of its electric fleet to buy more petrol vehicles....
...General Motors scaled back plans for its self-driving Cruise unit last year following an accident while testing on public roads, while Ford pulled out of the technology altogether to focus on driver-assistance...
...“Frequently, the weaknesses of new products, in this case private credit loans, may only be seen and exposed in bad markets, which private credit loans have not yet faced,” he warned in his annual shareholder...
...It expects gross margin excluding regulatory credits could hit just 14.6 per cent, which would be a 2.6 percentage point deterioration from the previous quarter....
...Skydance’s two-step deal is backed by private equity groups RedBird and KKR....
...Smart reads Driving forward Car companies operating in China plan to bring 71 new battery electric models to market this year....
...Car shoppers were far more likely to lease electric vehicles this year than buy them, as they took advantage of a $7,500 tax credit available under the Biden administration’s clean energy subsidies....
...“Profitability and sales figures of [Infiniti and Roewe] are declining annually,” said Sun Tianya, general manager of Yongda’s EV unit....
...Good morning and we start with Apple’s decision to abandon a secret project to build an electric vehicle....
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