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...Both Tesla and BYD — the world’s first and second-largest EV manufacturers — reported a strong drop in sales in the first three months of this year compared with the previous quarter....
...In China’s hyper-competitive electric vehicle market, a company usually needs more than just a new model for a stock price boost....
...Car rental group Hertz is to sell one-third of its global electric vehicle fleet to fund the purchase of more internal combustion engine cars, as demand for traditional vehicles remains strong....
...China remained a strong market for EVs, due to local rules and incentives, Butterworth said, but the US had been “very underwhelming, and we don’t see much momentum”....
...Wall Street opened higher on Wednesday, buoyed by strong performance from megacap technology groups and chipmakers amid a flurry of corporate reports....
...Volkswagen reported unexpectedly strong growth in its deliveries of electric and combustion engine cars in China in the first quarter helped by price cuts, while deliveries of EVs in Europe fell sharply...
...Toyota’s strong 14 per cent operating profit margins, is partly thanks to growing hybrid sales, which accounts for about a third of total sales. For BYD, the profitability boost is starting to show....
...That gives it more resources to catch up on electric offerings, with strong hybrid sales bridging the transition....
...He added that BMW had recently seen a “very strong increase” in new orders of electric vehicles. “I can only confirm that we’ll maintain our price discipline,” he said....
...The hard work shows signs of paying off: Xiaomi shares rose 12 per cent on Tuesday in response to strong demand for its SU7 model after the launch event....
...Strong sales of hybrids have compensated in 2023 for its slow rollout of electric vehicles....
...Polestar’s chief executive Thomas Ingenlath called the changes “totally positive” and said Geely’s “commitment to develop Polestar into an independent strong brand is crystal clear”....
...The moves come even as shares in Tesla — the first of the so-called Magnificent Seven to report earnings — declined 9.3 per cent after the electric-car maker warned that sales growth would be “notably lower...
...“Many incumbent OEMs rushed into electric vehicles without appreciating the far-reaching technological and design difference between combustion and electric vehicles,” he said....
...Smaller companies play a big role in Japan’s electric vehicle battery supply chain, indirectly supporting the likes of Toyota Motor and Tesla....
...“Twenty-five per cent is not so much I could control the company even if I went bonkers, but it’s enough that I have a strong influence.”...
...(a) the journal that published the Green and Hand paper is published by the Fraser Institute, a Canadian think-tank of a libertarian/conservative flavour, and that (b) McKinsey is a consultancy with a strong...
...The Munich-based company said operating profit margins on cars reached 9.8 per cent in the third quarter, compared with 8.9 per cent last year — largely thanks to strong demand for more expensive electric...
...A waiting list for pre-order for the fully electric Range Rover is open. Meanwhile, Tata is also set to reap the benefits from a strong home market....
...Tesla will this month send a team to scout locations in India for a proposed $2bn-$3bn electric car plant, according to two people with direct knowledge of the electric vehicle company’s plans....
...However, data from the start of 2024 suggests BYD has lost some ground following Huawei’s entrance to the car market, coupled with strong sales in China of plug-in hybrid vehicles, or PHEVs....
...value chain for batteries and electric vehicles.”...
...“That’s Chinese exports increasing generally, of which electric vehicles are the strongest growing element,” he said....
...Hyundai Motors on Wednesday raised its full-year earnings forecast after reporting a 42 per cent growth in second-quarter operating profit on robust sales of electric vehicles....
...“We have a strong strategy, which we believe will deliver results and returns to shareholders and investors.”...
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