These results caused an immediate impact on the market, as the TSLA price fell by more than 4% in after-hours trading on the NASDAQ exchange. It’s still the most valuable car manufacturer on the planet, but TSLA’s warnings about lower growth this year have been followed by moves to offer cheaper financing and lower prices.…
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China’s Commerce Ministry indicated that it will look into Danish Crown, Vion Boxtel and Litera Meat to determine if any detrimental product dumping occurred that negatively affects the Chinese economy. These firms are reportedly the leading pork exporters to China. To comply with the investigation, the companies must accurately complete a questionnaire. Danish Crown said…
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The $6bn share buyback was confirmed by CFO Paul Jacobson, who pointed out that the automotive giant is ramping up its capital allocation strategy. The GM board has approved this new plan, and the repurchase of up to $6bn of the company's common shares will proceed. This new strategy is in addition to the $10bn…
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According to reports, the Swedish automobile maker contemplated stopping its Chinese-manufactured EX30 and EX90 EV sales in Europe should the rumoured EU tariffs be realised. Relocating EV production to Belgium would negate this move. Reuters indicated that the company “insisted” that it was no longer considering the suspension of sales. The European Commission, the European…
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Trade regulators in Brussels stated that, based on the findings of an examination of Chinese government subsidies, they could revise the current import costs of Chinese-made electric vehicles (EVs). Ursula von der Leyen, the European Commission president, said that it would be a bespoke investigation and any duties would align with the “level of damage”.…
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Known as Gigafactory Berlin-Brandenburg, Tesla applied to double its manufacturing capacity to 1 million electric vehicles (EVs) per year in July 2023. This plant reportedly rolled out 6,000 EVs per week just before it halted operations due to a component shortage in January 2024. At the time, plant director Andre Thierig said in a Tagesspiegel…
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Apple is believed to have had 2,000 employees working on the EV project at its height, but has never officially confirmed how far it has got with it. It has now been reported that Apple is still years away from producing a car, which has led to the firm pulling the plug to concentrate on…
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While Tesla reported producing 1.35 million cars in the first three quarters of 2023, BYD's production included battery-powered and hybrid models, predominantly in a lower price range than Tesla's solely battery-powered vehicles. Despite a slight miss in annual sales against expectations, BYD's figures reflect a significant presence in the electric vehicle market, with a diverse…
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According to Bloomberg, China-based BYD is expected to achieve this milestone in the current quarter. China, now a key contender in global passenger car exports, shipped 1.3 million EVs out of 3.6 million total vehicles as of October this year. Despite BYD being relatively unknown outside China, its success is evident through substantial investments, including Warren…
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