Carmakers articles
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Tesla shares under pressure after carmaker announces price cuts
CEO Elon Musk postpones India trip ahead of results expected to show worst performance in seven yearsBusiness live – latest updatesShares in Tesla came under pressure on Monday after the electric carmaker announced a round of price cuts ahead of a difficult set of results for the company’s chief executive, Elon Musk.Tesla stock fell as much as 5% in early trading before recovering slightly to a deficit of 3.4% in the wake of the price reductions around the globe, including slashing the cost of...
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Tesla among electric carmakers forced to cut prices as market stalls
EV sales have plateaued across the world but the newfound glut of vehicles may just be temporaryElon Musk became the world’s richest man by evangelising about electric cars – and delivering them by the million. Yet in recent months his company, Tesla, has struggled to maintain its momentum: sales have dropped this year, and so has its share price.Those struggles have become emblematic of a broader reckoning facing the electric vehicle (EV) industry. After the soaring demand and valuations of the...
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China's highflying EV industry is going global. Why that has Tesla and other carmakers worried
The U.S.-China rivalry has a new flashpoint in the battle for technology supremacy: electric cars. So far, the U.S. is losing. Last year, China became the world’s foremost auto exporter, according to the China Passenger Car Assn., surpassing Japan with more than 5 million sales overseas. New energy vehicles accounted for about 25% of those exports, and more than half of those were created by Chinese brands, a shift from the traditional assembly role China has played for foreign automakers. “The...