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Today News

06

China's BYD is set to take Tesla's crown as the world's No. 1 producer of battery electric vehicles

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Counterpoint Research on Tuesday said China "remains a dominant force in the BEV market" with BYD leading the way.

Tuesday, Jul 2

23

Tesla shares soar 10% on better-than-expected Q2 deliveries report

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Tesla's delivery numbers for the second quarter beat Wall Street estimates.

19

GM reports best U.S. quarterly sales since 2020

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Electric vehicle deliveries increased 40% compared to a year earlier to 21,930 units. Still, EVs made up only 3.2% of GM's total second-quarter sales.

03

Chinese EV companies Zeekr and Nio report record deliveries in June

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Chinese electric car company Zeekr delivered the most cars in the first half of the year among U.S.-listed Chinese companies only selling pure electric cars.

Saturday, Jun 29

14

An alphabet soup of 'electrified' vehicles awaits new car buyers as EV sales stall

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As EV adoption crawls along, automakers are increasingly releasing hybrid vehicles as alternative options to EVs and traditional gas-powered engines.

Friday, Jun 28

23

Ford CEO says a profitable $30,000 EV is coming in two and a half years

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Farley said its main competitors are expected to be Chinese automakers such as BYD and an anticipated entry-level car from U.S. EV leader Tesla.

06

Chinese smartphone maker Honor says AI's power is 'worthless' without data privacy

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The transforming power of artificial intelligence is of no value unless user data is protected, says the CEO of Chinese smartphone company Honor, George Zhao.

Thursday, Jun 27

00

Tesla loses its EV quality edge as repair problems continue to plague the market

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The study found electric vehicles are plagued with more problems compared to traditional gas- and diesel-powered vehicles with internal combustion engines.

21

Rivian investor day focuses on cost reductions, efficiencies and next-generation EVs

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Rivian shares fell about 2% to 6% for much of the event on Thursday, eating into their 23% gain the day before on news of an up to $5 billion investment by VW.

19

Chinese automakers expected to achieve 33% global market share by 2030

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Chinese automakers are expected to continue to rapidly expand outside of China to achieve 33% of global automotive market share by 2030.

Wednesday, Jun 26

14

Rivian investment a ‘catch-up move’ for Volkswagen that could take years to pay off, advisory firm says

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Volkswagen’s $5 billion investment in electrical vehicle startup Rivian is a “catch-up move” for the German auto maker, Cyrus Mewawalla says.

China's EV architect says investing in Europe is a way forward

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Wan Gang became China's minister of Science and Technology around 2010 and is known for spearheading the country's early push into electric cars.

02

Rivian secures up to $5 billion from Volkswagen, shares soar more than 50%

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Volkswagen plans to invest up to $5 billion in electric vehicle startup Rivian, starting with an initial investment of $1 billion.

Tuesday, Jun 25

23

GM's Cruise names former Amazon, Microsoft Xbox executive as new CEO

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General Motors' Cruise autonomous vehicle unit on Tuesday announced Marc Whitten, a former Amazon and Microsoft executive, as its new CEO.

20

U.S. auto sales are expected to slow during the second half of 2024

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Vehicle inventory levels are growing, incentives are increasing and there's growing uncertainty surrounding the economy, interest rates and U.S. election.

19

Tesla recalls Cybertruck to fix faulty windshield wipers, loose trim

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Tesla has issued its third and fourth recalls on its Cybertruck, which hit the market late last year.

16

VW updates 2025 Jetta to boost sales of the brand's entry-level car

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The entry-level version of the Jetta with an automatic transmission will start at $21,995 when it goes on sale, expected by the end of the third quarter.

Monday, Jun 24

19

Ferrari CEO says all-electric model preserves the 'emotion' of the famed supercars

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Ferrari is opening a new E-Building in Maranello, Italy, that will produce internal combustion engine cars alongside hybrid and all-electric models.

09

China wants EU to scrap planned higher tariffs and 'abide by WTO rules,' state media reports

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Scrapping the tariff decision on Chinese EVs is set to benefit both sides, Global Times reported, quoting observers.

Saturday, Jun 22

02

Tesla internal data shows company has slashed at least 14% of workforce this year

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Tesla internal records viewed by CNBC suggest the company employs just over 121,000 people, including temporary workers.

Friday, Jun 21

10

China has spent at least $230 billion to build its EV industry, new study finds

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China spent $230.8 billion over more than a decade to develop its electric car industry, according to the Center for Strategic and International Studies.

Thursday, Jun 20

17

Startup Kinetic rolls out robots to fix electric cars, and someday robotaxis

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Menlo Ventures, an early Uber investor, just led a $21 million round of funding in Kinetic, a startup making EV repairs quicker and less expensive.

Tuesday, Jun 18

22

Top BofA auto analyst says Detroit automakers need to exit China as soon as possible

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The rise of local Chinese automakers, such as BYD and Geely, has put growing pressure on Detroit automakers.

20

Fisker files for bankruptcy protection in wave of EV startups, moment of déjà vu for its founder

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Consumer adoption for EVs has grown slower-than-expected, costs have risen and investor interest in EVs other than Tesla has dried up.

13

Uber, Khosla, Nvidia invest in $200 million funding round for autonomous trucking startup Waabi

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Autonomous trucking startup Waabi has raised $200 million in an oversubscribed Series B funding round led by existing investors Uber and Khosla Ventures.

Monday, Jun 17

18

Here's why car payments are so high right now

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Car payments skyrocketed in recent years. Pandemic-era shortages and high interest rates are partly to blame, but the auto market has also seen deeper changes.

Sunday, Jun 16

Used EV price crash keeps getting deeper with 'premium' brand idea history

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The gap between used EV prices and traditional used car prices has widened to thousands of dollars.

Saturday, Jun 15

15

Why tariffs on Chinese EVs may not work

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A few auto industry insiders are skeptical that tariffs will be able to hold off Chinese EV imports for long. Some say they may even do more harm than good.

Friday, Jun 14

09

Chinese automakers overtake U.S. rivals in sales for the first time, report shows

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Chinese carmakers, like BYD, have expanded globally as an electric-vehicle price war at home has pushed down prices and weighed on profit margins.

08

Toyota has been rocked by a string of scandals — but analysts are unfazed

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Given the recent scandals, will investors flee the stock, preferring to sink money in other scandal-free Japanese automakers instead?