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...giant to taper its electric ambitions....
...A version of this article was first published by Nikkei Asia on May 1. ©2024 Nikkei Inc. All rights reserved....
...Installing charging points has also not kept pace with sales in some markets, with the number of EVs per charging point rising in Norway, the US and UK....
...The group will maintain its long-term alliance with Renault and Mitsubishi Motors in certain markets such as Europe, south-east Asia and Latin America....
...If you back out the new IRA US tax credits (which Tesla doesn’t seem to disclose) then automotive gross margin looks to have fallen even further, to around 14.1 per cent....
...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....
...Thousands of imported vehicles, many of them electric cars made in China, are clogging up European ports....
...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...
...On Sunday, Tesla’s electric vehicles were included on a list of more than 70 car models that have been tested for data security compliance by a Chinese industry group....
...Most big US carmakers have reported a drop in electric vehicle sales due to softening consumer demand, a shift in preference to hybrids and increased competition from low-cost options from Chinese brands...
...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....
...Elon Musk has shut down the division that runs Tesla’s Supercharger business, dismissed two senior executives and fired hundreds more staff as the electric-car maker continues its restructuring amid a sharp...
...Nissan chief executive Makoto Uchida is blunt on the need for new partners, although the company insists its alliance with Renault and Mitsubishi Motors will not be unwound....
...But its status as the electric car champion — and one with a stock market valuation still dwarfing that of rivals — leaves Tesla particularly exposed....
...If the US raises interest rates again this year, higher car financing costs could further dent demand....
...Shares of Rivian slid after the US electric-truck start-up forecast no growth in vehicle production this year and said its order book had shrunk....
...In total, the UK has nearly 54,000 public charging points compared with 1mn fully electric vehicles, a ratio of just over 18:1....
...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...
Shares drop after car sales slip in first quarter
...In the US, they rose nearly two-thirds last year, outpacing the 46 per cent increase in EV sales. Total hybrid sales of about 1.2mn cars matched EV sales figures....
...On Tuesday, Apple announced to its staff it would abandon a years-long effort to develop an electric vehicle that could compete with the likes of Tesla, instead switching its research funding towards building...
Pedal to the metal, balls to the wall, margins to the floor
...“We have . . . made the difficult decision to reduce our headcount by more than 10 per cent globally . . . this will enable us to be lean, innovative and hungry for the next growth phase cycle,” wrote Tesla...
...The industry is divided over what recent data tells us. One school of thought is that EV sales growth in Europe has, thus far, been from wealthy early adopters and corporate buyers....
...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 . . ....
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