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BEIJING/FRANKFURT (Reuters) -Tesla has cut prices in a number of its major markets, including China and Germany, following price cuts in the United States, as it grapples with falling sales and an intensifying price war for electric vehicles (EVs), especially against Chinese EVs. The price cuts come after Tesla, led by its billionaire CEO Elon Musk, reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years. "Tesla prices must change frequently in order to match production with demand," Musk posted on X on Sunday. Tesla, the EV market leader,...

Europe’s plunging electric vehicle sales are painful proof the market isn’t ready to stand on its own, putting governments on notice for more support until affordable EVs become a reality. The glut is clogging up ports and factories are cutting production — a red flag for the region’s climate goals and risk of job cuts after Tesla’s mass layoffs this week. Without subsidies, the cost of EV ownership no longer makes sense for many drivers. Insurance and repairs are more expensive than for combustion-engine cars, and many would-be customers still bristle at limited charging infrastructure. At the same time, rapid...

Tesla shares extended declines Tuesday, pulling it close to the lowest levels since last spring, following the group's largest-ever job cuts, which have analysts and investors questioning the longer-term growth story of one of the market's most popular stocks. The Austin electric-vehicle group (TSLA) unveiled the layoffs in a companywide memo penned by Chief Executive Elon Musk, who told employees it was time to "streamline the company for the next phase of growth." "As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and...

Tesla is laying off more than 10% of its global workforce, equivalent to at least 14,000 roles, as the electric carmaker reacts to slowing demand and pressure on prices. The chief executive, Elon Musk, announced “the difficult decision” in a memo first reported by the online publication Elektrek. Tesla employs 140,473 people, according to its annual report.

IM motors has decided that semi solid-state batteries are ready for prime time. In an omen of what Western automakers will need to contend with, it's now launched a futuristic luxury coupe with a next-gen battery pack and crab-walking capability. The high-density lithium batteries we enjoy today were an absolute technological revolution. They blew rechargeable nickel-cadmium and nickel-metal-hydride batteries out of the water, offering such a leap in energy storage by weight and volume that suddenly all sorts of things became possible.

In recent months Tesla has had a bumpy ride. In January the electric-vehicle (ev) pioneer warned that growth would be “notably lower” this year, as motorists’ enthusiasm for battery power loses charge. The same month it had to suspend most production at its giant factory near Berlin because of supply disruptions caused by turmoil in the Red Sea. Its market share in China, the world’s biggest ev market, is falling as it fends off cheaper local competition, especially from byd, which late last year briefly eclipsed Tesla as the world’s biggest ev-maker. Tesla hit another big pothole on April 2nd,...

The future for electric vehicles is looking bleaker than ever.According to a Gallup poll published this week, the number of Americans who own an electric vehicle has indeed increased in the last year. However, the number of those interested in buying one is on the decline despite efforts from the federal government to transition the entire automobile market within the next decade. Seven percent of Americans, up from 4% a year ago, report that they own an electric vehicle. That increase is matched by an equal decline in the percentage saying they are seriously considering buying one, from 12% to...

Joe Biden’s massive electric vehicle (EV) agenda will subsidize the lifestyles of America’s well-to-do while hitting average people the hardest.... The Biden administration is aggressively regulating the U.S. auto market to drastically increase the proportion of EVs sold over the coming decade, but consumer demand has not taken off as quickly as proponents had projected despite the subsidies made available by Biden’s flagship climate bill, the Inflation Reduction Act (IRA). Manufacturers are slashing prices of their EVs to make the vehicles more appealing to consumers, which will increase prices for internal combustion engine (ICE) cars to compensate; this dynamic will...

As the automotive industry rapidly evolves towards electrification, high-voltage batteries are finding their way into various applications. From mining trucks to hydrofoil boats, electric powertrains are finding their homes in many unsuspecting vehicles. But one area is particularly fascinating: the classic car domain. Due to the high-torque nature of electric motors and battery packs that allow for a low center of gravity, swapping an old gas-guzzling engine for a battery pack and electric motors provides a quieter, faster, and more refined driving experience. Florida-based automaker E.C.D. Automotive Design Inc. has been working on precisely that. Founded in 2013, the automaker...

Tesla has unveiled plans for a new world’s largest Supercharger station, with an impressive 200 stalls in Yeehaw Junction, Florida. It was just over a month ago that we learned that Tesla planned a new world’s largest Supercharger station – a new 164-stall station in California. Now, Tesla is already planning to beat that and by a significant margin. Tesla has now filed for a new mega Supercharger station in Florida with an astonishing 200 stalls: Yeehaw Junction is located along 3 highways connecting south and central Florida as well as the coast. It makes the site strategically located for...

Vast swaths of the United States are at risk of running short of power as electricity-hungry data centers and clean-technology factories proliferate around the country, leaving utilities and regulators grasping for credible plans to expand the nation’s creaking power grid. In Georgia, demand for industrial power is surging to record highs, with the projection of new electricity use for the next decade now 17 times what it was only recently. Arizona Public Service, the largest utility in that state, is also struggling to keep up, projecting it will be out of transmission capacity before the end of the decade absent...

Battery electric vehicles like Teslas are fast, sleek, jewelrylike cars that capture the imagination. Hybrid cars, at least in the U.S., often bring to mind the Toyota Prius, long seen as a dawdling, egg-shaped vehicle for shuttling back and forth to Trader Joe's. But quietly amid all the BEV hype, automakers' hybrid fleets took broad strides forward. Car buyers flinched at the challenges of EV ownership. And sales of hybrid cars, led by Toyota Motor (TM) and Honda Motor (HMC), ramped up to outpace those of the flashier electric vehicles. Now carmakers are in overdrive to respond as analysts take...

The fossil fuel industry is cashing in on the $7.5 billion for electric vehicle (EV) charging stations that President Joe Biden approved in the Inflation Reduction Act, lobbying to have the stations built at existing gas station locations. Politico‘s Energy & Environment News reported: More than half of the charging stations being built so far from the 2021 bipartisan infrastructure law are rising at truck stops and gasoline stations, according to data exclusively provided to E&E News by EVAdoption, an EV data consultancy. In essence, the law’s $7.5 billion pot for charging is reinforcing the very fossil-fuel infrastructure that the...

Tesla has shockingly canceled the much-anticipated $27,000 car it was relying on to break into the mass market. The 'half price' EV was due to go into production starting next year and viewed by investors as a vital saving grace that could rescue the struggling automaker. Tesla will instead continue developing self-driving robotaxis, according to Reuters, which broke the news on Friday. In the minutes after the news broke, Tesla's share price fell more than 5 percent to just over $160. The company's stock is one of the worst performing in the S&P 500 this year. This week its share...

A funny thing happened on the way to our all-electric future: reality.I've written at length in recent weeks about Presidentish Joe Biden's hamfisted and wrongheaded EPA rules meant to force everybody into electric vehicles, whether EVs suit their needs or not. But maybe nothing compares to Oliver Price's headline on Wednesday, asking, "Is this the end of the EV?"Well, no. But we're still far, far away from the end of dino-burning engines — and likely to stay that way for far longer than the grifters in the EV industry and the autocrats in Washington (and several states, too) would have...

DETROIT (Reuters) - As U.S. sales of gas-electric hybrid vehicles surge and electric-vehicle sales cool, automakers and suppliers are betting consumer demand for a compromise between all-combustion and all-electric is a durable trend. Automakers and suppliers are adding capacity to build gasoline-electric hybrid and plug-in hybrid vehicles for the U.S. market, responding to increased consumer demand for technology that General Motors and other automakers once planned to phase out in favor of all-electric fleets, industry executives and analysts said. U.S. sales of hybrids grew five times faster than EV sales in February, Morgan Stanley said. A plug-in hybrid version of...

Tesla's price CUTS in Australia follow the company's decision on April 3 to announced 0% financing for new orders of the Model 3 and Model Y in China. The incentive runs through the end of April and is Tesla's first interest-free promotion for China, the world's biggest EV market.Meanwhile, Tesla INCREASED its U.S. prices for all Model Y trims on April 1. Tesla RAISED prices on Europe Model Y vehicles on March 22. In China, Tesla also HIKED prices on its entire Model Y line by around $690 on April 1, even as some incentives expired.

VIDEOThis video reveals why EVs have become so popular with sales of electric cars growing at an ever increasing rate. It's because their chargers are fast, convenient, and very friendly to the environment. Goodbye to gasoline powered cars; hello to EVs with their clean CLEAN energy.

Ford is starting 2024 off strong with EV sales up 86% through the first three months. The growth was enough for Ford to place second in the US EV market behind only Tesla. Ford’s sales surge comes after slashing prices earlier this year. Ford takes second behind Tesla in the US EV market. Ford announced that electric vehicle sales increased 86%, with 20,223 EVs sold through the first quarter of 2024. The F-150 Lightning remained America’s best-selling electric pickup, with 7,743 units handed over, topping Rivian’s R1T. Meanwhile, Mustang Mach-E sales surged 77% YOY with 9,589 electric SUVs handed over....

Pitched as a near-future electric touring bike, the Felo TOOZ has a top speed of 125 mph, a hand-of-God mid-range, and a range of 720 kilometers per charge (450 miles). Those numbers suggest it will be one of the largest motorcycles on the road, regardless of engine type, because that's a lot of battery capacity required to go that far on one charge. The biggest promise the TOOZ makes is high levels of technological connectivity to your phone (AKA life), and the ability to output multimedia through the 12" TFT dashboard with sound via a 6-channel surround sound speaker system....