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Related Special Reports
...giant to taper its electric ambitions....
...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....
...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....
...The battery maker’s second consecutive decline in quarterly sales highlighted the impact the EV slowdown was having on key suppliers....
...Known as “Project Titan”, Apple’s electric vehicle project was an example of its attempts to diversify beyond its hit product, the iPhone, which still makes up about half of its global sales....
...EVs are getting cheaper and sales are growing. But nearly all the world’s purely electric carmakers remain lossmaking....
Shares drop after car sales slip in first quarter
...India’s government has set targets to increase the proportion of electric motor sales to 30 per cent of all private cars and 80 per cent of two and three-wheelers by 2030, a large jump from current market...
...Unlike legacy manufacturers, it does not have petrol models to fall back on, and nor does it make hybrids, whose sales have picked up over the past year as buyers opt for something less than fully electric...
...Even China’s BYD, which has overtaken Tesla in EV sales, had a legacy making engine cars....
...It was something tenable on the horizon, so was a reason to look past the current EV sales slump....
...After years of rapid growth, Tesla’s latest earnings reflect concerns about stalling global demand for electric vehicles and that the world’s most valuable carmaker has entered a new era of lower sales growth...
...Sales grew by 55 per cent between January 2022 and January 2023....
...Yet sales, the same data set predicts, will lag even further behind. EV interest last year resulted in sales of 9.5mn vehicles, but the figure is only expected to be 9.8mn this year....
...The vote is a chance for shareholders to re-endorse Musk’s leadership of the company, at a time when Tesla’s sales have fallen in the face of slowing demand and rising competition....
...seller of battery electric vehicles....
...He believed traditional carmakers had lost their way on customer service....
...“We have again been very open about the fact that our service network is lagging our sales,” he said, but “we are expanding our service network very fast”....
...BYD has for much of the past year cornered a market share of about one-third of sales of plug-in hybrid and battery-powered electric vehicles in China....
...Xiaomi sales surged 34 per cent to attain a 14 per cent market share, as the Beijing-based electronics group experienced a wave of publicity surrounding the debut of its electric car....
...Data from S3 Partners shows TMTG is the third-most expensive US stock to borrow for short sales among companies with more than $25mn of short interest, behind cannabis group Canopy Growth and electric-car...
...The US electric-vehicle maker most recently offered incentives worth as much as Rmb34,600 ($4,800) to lure Chinese consumers to purchase Model 3 sedans and Model Y sport utility vehicles....
...Executives have said Xiaomi’s global footprint, with smartphone distributors and stores around the world, would accelerate overseas car sales....
...The company aims to complete a sale process within 120 days. Its European and Canadian businesses are not part of the bankruptcy filing....
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