Opponents of California's ambitious goals to increase electric car adoption for reducing greenhouse gas emissions have brought their argument to the US Supreme Court this week, marking the latest challenge against the state's efforts to combat climate change. Energy companies, corn growers, and industry associations have historically resisted stringent environmental regulations in California. For decades, California has been the sole state authorised to seek waivers from the Environmental Protection Agency (EPA) to establish vehicle emissions standards stricter than federal norms.&nbsp;

The EPA granted this exception due to California's unique circumstances, including its geography and high vehicle density, which exacerbate smog issues beyond those faced by other states. Other states have the option to adopt California's more rigorous emission standards, prompting automakers to generally comply nationwide rather than produce different vehicles for different regions.

In their petition filed on Tuesday, including Valero Energy Corp's Diamond Alternative Energy and others, the plaintiffs argued that the EPA's waiver for California's Advanced Clean Car program from 2015 to 2025 effectively allows the state to act as a quasi-federal regulator on global climate change issues.

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Citing the Supreme Court's 2022 decision in West Virginia v. EPA, the plaintiffs invoked the "major questions" doctrine, asserting that significant regulatory actions impacting the economy and society require explicit congressional authorisation. They contended that California's initiative lacks the necessary "compelling and extraordinary" justification required for an EPA waiver under current legal standards.

California Governor Gavin Newsom has positioned the state as a leader in climate action, targeting transportation as a major source of emissions, although a spokesperson for the governor declined immediate comment on the matter. Critics of the plan by the Californian authorities to set stringent milestones in the electrification of the transport sector to mitigate green house gas emissions have taken the matter to the US Supreme Court this week signaling the latest salvo against measures taken in the fight against climate change.

Some of the industries that have opposed rigorous environmental policies in California include energy firms, corn growers and industry associations. Until recently, it has been the only state allowed by the EPA to apply for exemptions to set stricter vehicle emissions standards than the federal ones for over three decades. The EPA allowed this exception based on certain conditions with regard to California’s specific topography and/or high level of vehicle emission that aggravates smog problems more than in the other states.

Other states may elect to adopt much higher emission standards as has been done in California and this is normally enough to ensure that automakers agree to follow the rules most of the time instead of producing one model for California and another for the rest of the country.

When filing its petition on Tuesday together with others such as Diamond Alternative Energy by Valero Energy Corp the plaintiffs’ major reasoning was that under the EPA waiver for California through the Advanced Clean Car program in the period 2015-2025, California practically becomes a quasi federal regulator on global climate change issues.

The ‘major questions’ doctrine: Using the Supreme Court’s 2022 decision West Virginia v EPA as a playbook, the plaintiffs argued that any federal actions with major effects on the economy and society must be expressly authorised by Congress. They argued that California’s initiative does not meet the ‘compelling and extraordinary’ needs standard that existing legal criteria hold as mandatory for the EPA waiver.

Last week, California Governor Gavin Newsom vowed to continue advancing climate policy, focusing on transportation as one of the key sources of the problem; Nonetheless, a spokesperson for Newsom did not respond to a request for comment on the matter.

This shift to drag the Supreme Court comes when oil companies, ethanol producers, and distributors, and trucking firms and business associations institute legal cases in state and federal courts. These groups do not want the Californian regulations to be implemented with a view of lowering greenhouse emission on different types of vehicles.

The Clean Air Act which EPA used in formulating of the vehicle emission standards does not specifically address emissions of greenhouse gasses from mobile sources such as automobiles. The plaintiffs pointed out that such attempts are redundant since climate change is a worldwide problem and California’s initiatives will not significantly alter global circumstances.

The plaintiffs underlined the importance of the question of whether the state of California may unilaterously regulate emission standards for itself and other states of the USA calling the specified authority a crucial factor that shapes the national policy in the mentioned field, may contribute to demand reduction for petroleum and marginally necessary bio-fuels.

Other plaintiffs in the filing are American Fuel &amp; Petrochemical Manufacturers, Kansas Corn Growers Association, and the National Association of Convenience Stores.

Opponents of California's ambitious goals to increase electric car adoption for reducing greenhouse gas emissions have brought their argument to the US Supreme Court this week, marking the latest challenge against the state's efforts to combat climate change.

Opponents of California's ambitious goals to increase electric car adoption for reducing greenhouse gas emissions have brought their argument to the US Supreme Court this week, marking the latest challenge against the state's efforts to combat climate change. Energy companies, corn growers, and industry associations have historically resisted stringent environmental regulations in California. For decades, California has been the sole state authorised to seek waivers from the Environmental Protection Agency (EPA) to establish vehicle emissions standards stricter than federal norms. The EPA granted this exception due to California's unique circumstances, including its geography and high vehicle density, which exacerbate smog issues beyond those faced by other states. Other states have the option to adopt California's more rigorous emission standards, prompting automakers to generally comply nationwide rather than produce different vehicles for different regions. In their petition filed on Tuesday, including Valero Energy Corp's Diamond Alternative Energy and others, the plaintiffs argued that the EPA's waiver for California's Advanced Clean Car program from 2015 to 2025 effectively allows the state to act as a quasi-federal regulator on global climate change issues. Also Read: Fisker seeks bankruptcy for bulk sale of Ocean EVs at a steep discount Citing the Supreme Court's 2022 decision in West Virginia v. EPA, the plaintiffs invoked the "major questions" doctrine, asserting that significant regulatory actions impacting the economy and society require explicit congressional authorisation. They contended that California's initiative lacks the necessary "compelling and extraordinary" justification required for an EPA waiver under current legal standards. California Governor Gavin Newsom has positioned the state as a leader in climate action, targeting transportation as a major source of emissions, although a spokesperson for the governor declined immediate comment on the matter. Critics of the plan by the Californian authorities to set stringent milestones in the electrification of the transport sector to mitigate green house gas emissions have taken the matter to the US Supreme Court this week signaling the latest salvo against measures taken in the fight against climate change. Some of the industries that have opposed rigorous environmental policies in California include energy firms, corn growers and industry associations. Until recently, it has been the only state allowed by the EPA to apply for exemptions to set stricter vehicle emissions standards than the federal ones for over three decades. The EPA allowed this exception based on certain conditions with regard to California’s specific topography and/or high level of vehicle emission that aggravates smog problems more than in the other states. Other states may elect to adopt much higher emission standards as has been done in California and this is normally enough to ensure that automakers agree to follow the rules most of the time instead of producing one model for California and another for the rest of the country. When filing its petition on Tuesday together with others such as Diamond Alternative Energy by Valero Energy Corp the plaintiffs’ major reasoning was that under the EPA waiver for California through the Advanced Clean Car program in the period 2015-2025, California practically becomes a quasi federal regulator on global climate change issues. The ‘major questions’ doctrine: Using the Supreme Court’s 2022 decision West Virginia v EPA as a playbook, the plaintiffs argued that any federal actions with major effects on the economy and society must be expressly authorised by Congress. They argued that California’s initiative does not meet the ‘compelling and extraordinary’ needs standard that existing legal criteria hold as mandatory for the EPA waiver. Last week, California Governor Gavin Newsom vowed to continue advancing climate policy, focusing on transportation as one of the key sources of the problem; Nonetheless, a spokesperson for Newsom did not respond to a request for comment on the matter. This shift to drag the Supreme Court comes when oil companies, ethanol producers, and distributors, and trucking firms and business associations institute legal cases in state and federal courts. These groups do not want the Californian regulations to be implemented with a view of lowering greenhouse emission on different types of vehicles. The Clean Air Act which EPA used in formulating of the vehicle emission standards does not specifically address emissions of greenhouse gasses from mobile sources such as automobiles. The plaintiffs pointed out that such attempts are redundant since climate change is a worldwide problem and California’s initiatives will not significantly alter global circumstances. The plaintiffs underlined the importance of the question of whether the state of California may unilaterously regulate emission standards for itself and other states of the USA calling the specified authority a crucial factor that shapes the national policy in the mentioned field, may contribute to demand reduction for petroleum and marginally necessary bio-fuels. Other plaintiffs in the filing are American Fuel & Petrochemical Manufacturers, Kansas Corn Growers Association, and the National Association of Convenience Stores.

Opponents of California's EV targets take their case to Supreme Court

China has invested USD 230.8 billion over more than a decade to bolster its electric vehicle (EV) industry, according to analysis published by the US-based Center for Strategic and International Studies (CSIS) on Thursday. This substantial government support equates to 18.8% of total electric car sales between 2009 and 2023, noted Scott Kennedy, trustee chair in Chinese Business and Economics at CSIS. He highlighted that the ratio of such spending to EV sales has decreased significantly, from over 40% before 2017 to just above 11% in 2023.

Such findings come at a time when the European Union is set to impose tariffs on the Chinese electric cars imported due to the subsidies that are applied in their production. However, last month, the US also stated that it plans to increase tariffs on Chinese electric vehicles to 100%.

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Kennedy also highlighted that stated policies to support electric cars have also employed other policies that negatively affect foreign auto manufacturers but benefit China’s auto industry. However, he noted that the US has not well prepared the environment for the native electric car industry development. “Still, there are instances where the Western automakers and governments have prevaricated and have not been all that assertive,” Kennedy said. He previously claimed in a report four years ago that there were seven policy initiatives that could foreshadow trade tensions originating from Chinese electric cars.

Not all of these government subsidies and incentives can be said to have directly supported the growth of cars. Even in the early stage of China’s EV construction, the Ministry of Finance found that at least five firms cheated for over one billion yuan (USD 140 million) from the government.

Made-in-China vehicles have also experienced improved market positioning, as more customers are turning to electric cars over fuel-powered vehicles for imported automobiles. Competition is stiff with corporate analysts from the Bank of America stating that major automakers in the United States should pull out their operations in the country.

"Independent auto analysts and Western automakers with whom I've spoken all agree that Chinese EV makers and battery producers have made tremendous progress and must be taken seriously," Kennedy stated. Nonetheless, he noted that despite extensive government support and market growth, Chinese EV companies have yet to see significant profit increases. "In a well-functioning market economy, firms would more carefully gauge their investment in new capacity, and the emergence of such a sharp gap between supply and demand would likely result in industry consolidation," he added.

BYD's net profit per car has declined over the last 12 months to USD 739, according to CLSA's first-quarter analysis, while Tesla's has dropped to USD 2,919. The EV industry has faced an intense price war over the past year, with companies either reducing prices or launching lower-priced product lines.

Chinese EV startup Nio, which is still operating at a loss, projected last month that about 10 automakers will exit the Chinese market, leaving 20 to 30 players. In contrast, the US has been ramping up efforts to support electric vehicles. The Inflation Reduction Act, signed into law in August 2022, allocated USD 370 billion to promote clean technologies. Kennedy noted that this legislation includes a USD 7,500 credit for qualifying electric car purchases, compared to the average Chinese support per electric car purchase of USD 4,600 in 2023, down from USD 13,860 in 2018.

China has invested USD 230.8 billion over more than a decade to bolster its electric vehicle (EV) industry, according to analysis published by the US-based Center for Strategic and International Studies (CSIS) on Thursday.

China has invested USD 230.8 billion over more than a decade to bolster its electric vehicle (EV) industry, according to analysis published by the US-based Center for Strategic and International Studies (CSIS) on Thursday. This substantial government support equates to 18.8% of total electric car sales between 2009 and 2023, noted Scott Kennedy, trustee chair in Chinese Business and Economics at CSIS. He highlighted that the ratio of such spending to EV sales has decreased significantly, from over 40% before 2017 to just above 11% in 2023. Such findings come at a time when the European Union is set to impose tariffs on the Chinese electric cars imported due to the subsidies that are applied in their production. However, last month, the US also stated that it plans to increase tariffs on Chinese electric vehicles to 100%. Also Read: Ford to build its next-gen electric vehicles at new Long Beach campus Kennedy also highlighted that stated policies to support electric cars have also employed other policies that negatively affect foreign auto manufacturers but benefit China’s auto industry. However, he noted that the US has not well prepared the environment for the native electric car industry development. “Still, there are instances where the Western automakers and governments have prevaricated and have not been all that assertive,” Kennedy said. He previously claimed in a report four years ago that there were seven policy initiatives that could foreshadow trade tensions originating from Chinese electric cars. Not all of these government subsidies and incentives can be said to have directly supported the growth of cars. Even in the early stage of China’s EV construction, the Ministry of Finance found that at least five firms cheated for over one billion yuan (USD 140 million) from the government. Made-in-China vehicles have also experienced improved market positioning, as more customers are turning to electric cars over fuel-powered vehicles for imported automobiles. Competition is stiff with corporate analysts from the Bank of America stating that major automakers in the United States should pull out their operations in the country. "Independent auto analysts and Western automakers with whom I've spoken all agree that Chinese EV makers and battery producers have made tremendous progress and must be taken seriously," Kennedy stated. Nonetheless, he noted that despite extensive government support and market growth, Chinese EV companies have yet to see significant profit increases. "In a well-functioning market economy, firms would more carefully gauge their investment in new capacity, and the emergence of such a sharp gap between supply and demand would likely result in industry consolidation," he added. BYD's net profit per car has declined over the last 12 months to USD 739, according to CLSA's first-quarter analysis, while Tesla's has dropped to USD 2,919. The EV industry has faced an intense price war over the past year, with companies either reducing prices or launching lower-priced product lines. Chinese EV startup Nio, which is still operating at a loss, projected last month that about 10 automakers will exit the Chinese market, leaving 20 to 30 players. In contrast, the US has been ramping up efforts to support electric vehicles. The Inflation Reduction Act, signed into law in August 2022, allocated USD 370 billion to promote clean technologies. Kennedy noted that this legislation includes a USD 7,500 credit for qualifying electric car purchases, compared to the average Chinese support per electric car purchase of USD 4,600 in 2023, down from USD 13,860 in 2018.

China has spent USD 230 billion on its EV ecosystem: Study

While Chinese electric vehicle (EV) imports to Germany experienced a 15.7% decline, reaching 31,500 units between January and April 2024, according to the German Federal Statistical Office (Destatis), China's economic prowess in the EV market allowed it to increase its share of the German EV import market to an impressive 40.9% during the same period. This development solidifies China's position as the leading exporter of e-cars to Germany.

The slump in overall Chinese EV imports to Germany can be attributed to weak domestic demand within the country, as stated by Destatis. Nevertheless, China's dominance in the German EV import market remains unshaken, outperforming other major exporters like the Czech Republic and South Korea, which witnessed more substantial declines in their respective EV exports to Germany during the same timeframe.

Notably, the Czech Republic and South Korea experienced a staggering one-third and one-half decrease, respectively, in their EV exports to Germany compared to the corresponding period in 2023. In contrast, the decline in Chinese EV imports to Germany was relatively modest, indicating the resilience of China's position in this critical market.

The statistics highlight China's formidable presence in the German EV market, with the country exporting a staggering 447,200 electric cars to Germany in 2023 alone. Conversely, the flow of EVs from Germany to China remained relatively low, with only 11,400 units being exported during the same year.

Despite the recent downturn in overall imports, China's ability to maintain and even strengthen its market share in the German EV import sector underscores the country's strategic positioning and competitiveness in the rapidly evolving electric vehicle industry.

However, it is worth noting that the European Commission's recent decision to impose additional tariffs of up to 38.1% on imported Chinese electric cars, effective from July 2024, could potentially impact China's dominance in the German and broader European EV markets. This move aims to counterbalance the influx of inexpensive Chinese EVs, which have benefited from robust state subsidies in their home market.

As the global transition towards electric mobility accelerates, China's position as a leading exporter of EVs to Germany and its ability to navigate the evolving regulatory landscape will play a pivotal role in shaping the dynamics of the European and global EV markets.

While Chinese electric vehicle (EV) imports to Germany experienced a 15.7% decline, reaching 31,500 units between January and April 2024, according to the German Federal Statistical Office (Destatis), China's economic prowess in the EV market allowed it to increase its share of the German EV import market to an impressive 40.

While Chinese electric vehicle (EV) imports to Germany experienced a 15.7% decline, reaching 31,500 units between January and April 2024, according to the German Federal Statistical Office (Destatis), China's economic prowess in the EV market allowed it to increase its share of the German EV import market to an impressive 40.9% during the same period. This development solidifies China's position as the leading exporter of e-cars to Germany. The slump in overall Chinese EV imports to Germany can be attributed to weak domestic demand within the country, as stated by Destatis. Nevertheless, China's dominance in the German EV import market remains unshaken, outperforming other major exporters like the Czech Republic and South Korea, which witnessed more substantial declines in their respective EV exports to Germany during the same timeframe. Notably, the Czech Republic and South Korea experienced a staggering one-third and one-half decrease, respectively, in their EV exports to Germany compared to the corresponding period in 2023. In contrast, the decline in Chinese EV imports to Germany was relatively modest, indicating the resilience of China's position in this critical market. The statistics highlight China's formidable presence in the German EV market, with the country exporting a staggering 447,200 electric cars to Germany in 2023 alone. Conversely, the flow of EVs from Germany to China remained relatively low, with only 11,400 units being exported during the same year. Despite the recent downturn in overall imports, China's ability to maintain and even strengthen its market share in the German EV import sector underscores the country's strategic positioning and competitiveness in the rapidly evolving electric vehicle industry. However, it is worth noting that the European Commission's recent decision to impose additional tariffs of up to 38.1% on imported Chinese electric cars, effective from July 2024, could potentially impact China's dominance in the German and broader European EV markets. This move aims to counterbalance the influx of inexpensive Chinese EVs, which have benefited from robust state subsidies in their home market. As the global transition towards electric mobility accelerates, China's position as a leading exporter of EVs to Germany and its ability to navigate the evolving regulatory landscape will play a pivotal role in shaping the dynamics of the European and global EV markets.

China consolidates EV import dominance in the German market

With increasing concerns about climate change, there is a rising demand for eco-friendly transportation alternatives. Electric vehicles (EVs) have garnered attention as a cleaner option compared to traditional petrol and diesel cars due to their reduced greenhouse gas emissions, but a report claimed otherwise.&nbsp;

The <a href="https://www.emissionsanalytics.com/news/gaining-traction-losing-tread#:~:text=The%20headline%20conclusion%20we%20draw,previous%20figure%20for%20aggressive%20driving.">report</a> published by Emission Analytics, a firm specialising in emissions data analysis, challenged the prevailing belief regarding the environmental superiority of EVs. The report touched upon the issue of particle pollution originating from brakes and tyres in both electric and fossil fuel-powered vehicles. The report was&nbsp;featured in a Wall Street Journal op-ed.&nbsp;

The report, titled "Gaining traction, losing tread: Pollution from tyre wear now 1,850 times worse than exhaust emissions", talked about research it had filed in early 2020 claiming that tyre particulate wear emissions were 1,000 times worse than exhaust emissions.&nbsp;

In the report, Emission Analytics compared real-world tailpipe particulate mass emissions to tire wear emissions in "normal" driving. It claimed that the latter is actually around 1,850 times greater than the former.&nbsp;

However, this claim appears to be untrue. A <a href="https://science.feedback.org/review/electric-vehicles-may-have-higher-particulate-emissions-from-tires-but-usually-have-lower-particulate-emissions-from-other-sources/?fbclid=IwZXh0bgNhZW0CMTAAAR10GC1Mvm1VbiB0gUJV89TlH0xzF4H3VDPA8isssipiNviDOqsaapfeXAo_aem_AbDNiVGfP3hiUACTjAvF2Yj6gdTzpL1gO0L9zY4hhgimc7jDZjThVE1gh-IQO3GRQIs8uiFmoeIdWfdql-Ute6Ch">fact-check report</a> by Science Feedback said that the particulate emissions of electric vehicles are "still poorly studied" and experimental comparisons of particulate emissions, mentioned in the Emission Analytics report, remain scarce.&nbsp;

<h2>What did the Emission Analytics report claim?&nbsp;</h2>

The report claimed that EVs, owing to their heavier weight, may emit significantly higher levels of particulate matter from brakes and tyres compared to modern gas-powered vehicles equipped with efficient exhaust filters. It could be as much as 1,850 times greater, it claimed.&nbsp;

Emission Analytics also tried to highlight the concern over tyre wear, attributing it to the heavier weight of EVs which accelerates tyre deterioration and releases harmful chemicals into the atmosphere. It said that the degradation is primarily linked to the synthetic rubber composition of most tyres, derived from crude oil.&nbsp;

Another significant aspect highlighted in the report is the impact of battery weight on EVs. As EVs typically feature heavier batteries compared to traditional petrol engines, this additional weight exerts greater strain on brakes and tyres, hastening wear and tear.&nbsp;

<h2>Is this claim even true?&nbsp;</h2>

Science Feedback said in its fact-check that the company has not released a more detailed methodology and also, the report hasn't been peer-reviewed or published in the scientific literature.&nbsp;

"Without a detailed methodology, it is impossible for other groups to reproduce and verify Emissions Analytics’ results. In the absence of peer review, it is very difficult to assess the credibility of Emission Analytics' study," it said.&nbsp;

Also watch |&nbsp;India: Are electric vehicles safe? | Tech It Out

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/india-are-electric-vehicles-safe-tech-it-out-509155/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

"More extreme versions of the claim state that electric vehicles emit 1,850 times more "pollutants" than gasoline-powered vehicles. This completely misrepresents the study, which compared the amount of particulate emissions coming from tires and tailpipes. It also contradicts available measurements of other vehicle pollutants like CO2," Science Feedback explained in its report.&nbsp;

Note: Earlier version of this article didn't include the fact-check claim by Science Feedback.&nbsp;

(With inputs from agencies)

With increasing concerns about climate change, there is a rising demand for eco-friendly transportation alternatives. Electric vehicles (EVs) have garnered attention as a cleaner option compared to traditional petrol and diesel cars due to their reduced greenhouse gas emissions, but a report claimed otherwise.

With increasing concerns about climate change, there is a rising demand for eco-friendly transportation alternatives. Electric vehicles (EVs) have garnered attention as a cleaner option compared to traditional petrol and diesel cars due to their reduced greenhouse gas emissions, but a report claimed otherwise. The report published by Emission Analytics, a firm specialising in emissions data analysis, challenged the prevailing belief regarding the environmental superiority of EVs. The report touched upon the issue of particle pollution originating from brakes and tyres in both electric and fossil fuel-powered vehicles. The report was featured in a Wall Street Journal op-ed. The report, titled "Gaining traction, losing tread: Pollution from tyre wear now 1,850 times worse than exhaust emissions", talked about research it had filed in early 2020 claiming that tyre particulate wear emissions were 1,000 times worse than exhaust emissions. In the report, Emission Analytics compared real-world tailpipe particulate mass emissions to tire wear emissions in "normal" driving. It claimed that the latter is actually around 1,850 times greater than the former. However, this claim appears to be untrue. A fact-check report by Science Feedback said that the particulate emissions of electric vehicles are "still poorly studied" and experimental comparisons of particulate emissions, mentioned in the Emission Analytics report, remain scarce. What did the Emission Analytics report claim? The report claimed that EVs, owing to their heavier weight, may emit significantly higher levels of particulate matter from brakes and tyres compared to modern gas-powered vehicles equipped with efficient exhaust filters. It could be as much as 1,850 times greater, it claimed. Emission Analytics also tried to highlight the concern over tyre wear, attributing it to the heavier weight of EVs which accelerates tyre deterioration and releases harmful chemicals into the atmosphere. It said that the degradation is primarily linked to the synthetic rubber composition of most tyres, derived from crude oil. Another significant aspect highlighted in the report is the impact of battery weight on EVs. As EVs typically feature heavier batteries compared to traditional petrol engines, this additional weight exerts greater strain on brakes and tyres, hastening wear and tear. Is this claim even true? Science Feedback said in its fact-check that the company has not released a more detailed methodology and also, the report hasn't been peer-reviewed or published in the scientific literature. "Without a detailed methodology, it is impossible for other groups to reproduce and verify Emissions Analytics’ results. In the absence of peer review, it is very difficult to assess the credibility of Emission Analytics' study," it said. Also watch | India: Are electric vehicles safe? | Tech It Out "More extreme versions of the claim state that electric vehicles emit 1,850 times more "pollutants" than gasoline-powered vehicles. This completely misrepresents the study, which compared the amount of particulate emissions coming from tires and tailpipes. It also contradicts available measurements of other vehicle pollutants like CO2," Science Feedback explained in its report. Note: Earlier version of this article didn't include the fact-check claim by Science Feedback. (With inputs from agencies)

EVs may have higher particulate emissions from tires, but less exhaust particulates than petrol, diesel cars

In a move aimed at addressing the European Union's probe into China's electric vehicle (EV) sector, the Chinese government is actively engaging Spain, hoping to leverage its influence within the EU to secure a favourable outcome. At a recent meeting in Madrid, Chinese Commerce Minister Wang Wentao underscored the importance of safeguarding global joint efforts to combat climate change and preserving the China-EU comprehensive strategic partnership.

Wang's remarks highlighted China's desire for Spain to encourage the EU to maintain an open and supportive stance towards the green and new energy sectors, facilitating deeper cooperation and creating a fair, predictable development environment. He emphasised the need to avoid protectionist measures, referring to the EU's investigation into China's EV industry as an act of protectionism.

Last October, the European Union Commission launched an investigation to determine whether punitive tariffs should be imposed to protect EU producers from what it perceives as unfairly subsidised, cheaper Chinese electric vehicle imports. This probe has drawn repeated criticism from China, which views it as a protectionist move.

Initially, the EU was expected to reach a decision on the matter after the European Parliament election on June 9. However, it has since announced a postponement, further prolonging the uncertainty surrounding the investigation's outcome.

During the meeting with Spanish ministers for economy and industry, Wang expressed China's willingness to collaborate with Spain in increasing trade, promoting two-way investments, and broadening cooperation across various sectors. This outreach reflects China's broader strategy of strengthening economic ties with key European nations to bolster its position within the EU.

Additionally, the Chinese commerce ministry revealed the establishment of a coordination mechanism designed to address the difficulties faced by foreign-funded enterprises operating in China. While specific details were not provided, this initiative aims to create a more favourable and transparent business environment for foreign companies, potentially alleviating concerns raised by European firms regarding China's economic trajectory and policy predictability.

As the electric vehicle industry continues to gain global momentum, the dynamics between China and the European Union will likely have far-reaching implications for the sector's future development and trade relations. China's diplomatic overtures to Spain underscore its determination to shape the narrative and seek allies in its ongoing efforts to navigate the complexities of the EU's investigation. 
&nbsp;

In a move aimed at addressing the European Union's probe into China's electric vehicle (EV) sector, the Chinese government is actively engaging Spain, hoping to leverage its influence within the EU to secure a favourable outcome.

In a move aimed at addressing the European Union's probe into China's electric vehicle (EV) sector, the Chinese government is actively engaging Spain, hoping to leverage its influence within the EU to secure a favourable outcome. At a recent meeting in Madrid, Chinese Commerce Minister Wang Wentao underscored the importance of safeguarding global joint efforts to combat climate change and preserving the China-EU comprehensive strategic partnership. Wang's remarks highlighted China's desire for Spain to encourage the EU to maintain an open and supportive stance towards the green and new energy sectors, facilitating deeper cooperation and creating a fair, predictable development environment. He emphasised the need to avoid protectionist measures, referring to the EU's investigation into China's EV industry as an act of protectionism. Last October, the European Union Commission launched an investigation to determine whether punitive tariffs should be imposed to protect EU producers from what it perceives as unfairly subsidised, cheaper Chinese electric vehicle imports. This probe has drawn repeated criticism from China, which views it as a protectionist move. Initially, the EU was expected to reach a decision on the matter after the European Parliament election on June 9. However, it has since announced a postponement, further prolonging the uncertainty surrounding the investigation's outcome. During the meeting with Spanish ministers for economy and industry, Wang expressed China's willingness to collaborate with Spain in increasing trade, promoting two-way investments, and broadening cooperation across various sectors. This outreach reflects China's broader strategy of strengthening economic ties with key European nations to bolster its position within the EU. Additionally, the Chinese commerce ministry revealed the establishment of a coordination mechanism designed to address the difficulties faced by foreign-funded enterprises operating in China. While specific details were not provided, this initiative aims to create a more favourable and transparent business environment for foreign companies, potentially alleviating concerns raised by European firms regarding China's economic trajectory and policy predictability. As the electric vehicle industry continues to gain global momentum, the dynamics between China and the European Union will likely have far-reaching implications for the sector's future development and trade relations. China's diplomatic overtures to Spain underscore its determination to shape the narrative and seek allies in its ongoing efforts to navigate the complexities of the EU's investigation.

China seeks Spain's support in EU's electric vehicle probe

A significant shift has occurred in the global solar panel industry. For the first time since 2018, a US company, First Solar Inc., has ascended to the position of the world's most valuable solar manufacturer.&nbsp;

This development comes amidst a confluence of factors impacting China's previously dominant solar sector, including internal price wars, external trade barriers, and geopolitical tensions.

China has long been the undisputed leader in solar panel production, boasting control over more than 80% of every step of the supply chain. However, the rapid build-up of manufacturing capacity in China has outpaced global demand, leading to a fierce price war among Chinese companies.&nbsp;

This price war has severely impacted profit margins, with Longi Green Energy Technology Co., a major Chinese player, incurring a net loss of 2.35 billion yuan (USD 325 million) in the first quarter after netting a profit of 3.64 billion yuan in the same period of 2023.

Furthermore, Chinese solar giants are encountering increasing geopolitical scrutiny. The US and other countries have criticised China's overcapacity, arguing that it hinders the development of robust solar panel production facilities in other regions. This criticism has translated into concrete actions, with the Biden administration recently implementing higher tariffs on Chinese solar panels. This move aims to bolster domestic US manufacturers and reduce dependence on Chinese imports.

First Solar, the Arizona-based company that has now claimed the top spot, is a prime beneficiary of the current situation. The US tariffs on Chinese solar panels have created a more favourable market environment for domestic producers. First Solar can now sell its panels at significantly higher prices within the US market compared to the global average.&nbsp;

Additionally, the Inflation Reduction Act, recently passed by the US government, includes provisions for subsidising the expansion of domestic solar panel production.&nbsp;

When considering the critical goal of combating climate change by increasing clean energy production, First Solar still has a gap to bridge compared to its Chinese counterparts. In 2023, First Solar produced 12 gigawatts of solar panels, while Jinko Solar Co., a leading Chinese manufacturer, produced a staggering 79 gigawatts. This highlights the disparity in terms of overall clean energy generation capacity.

A significant shift has occurred in the global solar panel industry. For the first time since 2018, a US company, First Solar Inc., has ascended to the position of the world's most valuable solar manufacturer.

A significant shift has occurred in the global solar panel industry. For the first time since 2018, a US company, First Solar Inc., has ascended to the position of the world's most valuable solar manufacturer. This development comes amidst a confluence of factors impacting China's previously dominant solar sector, including internal price wars, external trade barriers, and geopolitical tensions. China has long been the undisputed leader in solar panel production, boasting control over more than 80% of every step of the supply chain. However, the rapid build-up of manufacturing capacity in China has outpaced global demand, leading to a fierce price war among Chinese companies. This price war has severely impacted profit margins, with Longi Green Energy Technology Co., a major Chinese player, incurring a net loss of 2.35 billion yuan (USD 325 million) in the first quarter after netting a profit of 3.64 billion yuan in the same period of 2023. Furthermore, Chinese solar giants are encountering increasing geopolitical scrutiny. The US and other countries have criticised China's overcapacity, arguing that it hinders the development of robust solar panel production facilities in other regions. This criticism has translated into concrete actions, with the Biden administration recently implementing higher tariffs on Chinese solar panels. This move aims to bolster domestic US manufacturers and reduce dependence on Chinese imports. First Solar, the Arizona-based company that has now claimed the top spot, is a prime beneficiary of the current situation. The US tariffs on Chinese solar panels have created a more favourable market environment for domestic producers. First Solar can now sell its panels at significantly higher prices within the US market compared to the global average. Additionally, the Inflation Reduction Act, recently passed by the US government, includes provisions for subsidising the expansion of domestic solar panel production. When considering the critical goal of combating climate change by increasing clean energy production, First Solar still has a gap to bridge compared to its Chinese counterparts. In 2023, First Solar produced 12 gigawatts of solar panels, while Jinko Solar Co., a leading Chinese manufacturer, produced a staggering 79 gigawatts. This highlights the disparity in terms of overall clean energy generation capacity.

US solar giant rises as China's industry navigates turbulence

On Friday, electric vehicle (EV) company Xpeng, based in China, voiced its opposition to new US tariffs on Chinese EVs, arguing they hinder global efforts towards carbon neutrality and clean energy adoption.

"These tariffs will lead to price increases," stated Xpeng co-president Brian Gu during a media event in Hong Kong, where the company introduced two new EV models. "While this doesn't currently impact Xpeng directly, for the broader market, I believe greater openness allowing global competition is beneficial in the long run," Gu added.

Currently, Chinese-made light-duty vehicles have a limited presence in the US import market.

Gu's comments came during the Hong Kong launch of Xpeng's G6 electric SUV and X9 flagship seven-seater. This expansion reflects the company's strategy to venture beyond China's saturated car market.

A price war and slowing demand within China are pressuring Chinese automakers, prompting them to accelerate overseas expansion to mitigate these challenges.

Other Chinese EV companies, such as BYD and Great Wall Motor, are already established in Hong Kong. According to consultancy CBRE, the number of Chinese-made EV models sold in Hong Kong has grown significantly, from just one in 2018 to 20 in 2023. This highlights the strong growth potential in this Asian financial hub.

However, this overseas expansion faces headwinds. The European Union (EU) launched an anti-subsidy investigation into Chinese EV imports, while the US recently announced tariff hikes.

"We're evaluating the impact of potential tariff changes in different regions to determine the flexibility we have in our profit margins," Gu said. He added that the company is still assessing the level of EU tariffs that might necessitate production relocation outside of China.

Xpeng currently sells EVs in several European countries, including the Netherlands, Norway, and Germany. The company also plans to enter additional European markets like Italy and the UK. Despite the looming tariffs, Xpeng recently announced its entry into the French market.

Highlighting the intense competition within China, Nio launched the first vehicle under its new budget-friendly brand, Onvo, aiming to compete with Tesla's Model Y.

Volkswagen-backed Xpeng anticipates its upcoming Mona-branded EV to be the first car in China priced under USD 21,000 with advanced self-driving features.

On Friday, electric vehicle (EV) company Xpeng, based in China, voiced its opposition to new US tariffs on Chinese EVs, arguing they hinder global efforts towards carbon neutrality and clean energy adoption.

On Friday, electric vehicle (EV) company Xpeng, based in China, voiced its opposition to new US tariffs on Chinese EVs, arguing they hinder global efforts towards carbon neutrality and clean energy adoption. "These tariffs will lead to price increases," stated Xpeng co-president Brian Gu during a media event in Hong Kong, where the company introduced two new EV models. "While this doesn't currently impact Xpeng directly, for the broader market, I believe greater openness allowing global competition is beneficial in the long run," Gu added. Currently, Chinese-made light-duty vehicles have a limited presence in the US import market. Gu's comments came during the Hong Kong launch of Xpeng's G6 electric SUV and X9 flagship seven-seater. This expansion reflects the company's strategy to venture beyond China's saturated car market. A price war and slowing demand within China are pressuring Chinese automakers, prompting them to accelerate overseas expansion to mitigate these challenges. Other Chinese EV companies, such as BYD and Great Wall Motor, are already established in Hong Kong. According to consultancy CBRE, the number of Chinese-made EV models sold in Hong Kong has grown significantly, from just one in 2018 to 20 in 2023. This highlights the strong growth potential in this Asian financial hub. However, this overseas expansion faces headwinds. The European Union (EU) launched an anti-subsidy investigation into Chinese EV imports, while the US recently announced tariff hikes. "We're evaluating the impact of potential tariff changes in different regions to determine the flexibility we have in our profit margins," Gu said. He added that the company is still assessing the level of EU tariffs that might necessitate production relocation outside of China. Xpeng currently sells EVs in several European countries, including the Netherlands, Norway, and Germany. The company also plans to enter additional European markets like Italy and the UK. Despite the looming tariffs, Xpeng recently announced its entry into the French market. Highlighting the intense competition within China, Nio launched the first vehicle under its new budget-friendly brand, Onvo, aiming to compete with Tesla's Model Y. Volkswagen-backed Xpeng anticipates its upcoming Mona-branded EV to be the first car in China priced under USD 21,000 with advanced self-driving features.

Price wars at home, tariffs abroad: Xpeng seek greener pastures

Amidst decreasing sales and an intensifying price war, Tesla revealed its plan to lay off another 601 employees in California in a notice to the state government. The job cuts began a month ago and the automaker is on a roll to cut costs.

On April 15, Tesla CEO Elon Musk announced that the carmaker would cut “more than 10 per cent” of its total workforce, more than 14,000 jobs, in order to be “lean, innovative and hungry”.

According to sources familiar with the matter, since Musk wanted to slash 20% of its headcount, the electric vehicle maker has since then, conducted several rounds of job cuts.

The urgency of the shift was highlighted by Tesla reporting a decline of almost 10 per cent in revenues in the first quarter of this year, its first year-on-year quarterly drop since the start of 2020. The share price has more than halved from its November 2021 peak of just under USD 410 a share.

The latest round of layoffs would have a direct impact on employees at Tesla’s facilities in Palo Alto and Fremont, California. According to the Worker Adjustment and Retraining Notification (WARN), Tesla said that the layoffs would be implemented during the 14-day period beginning June 20, 2024.

Last month, the electric car maker said that it would lay off 6,020 people in California and Texas, as part of the headcount cuts. The industry-wide job reduction also included 285 employees at its Buffalo, New York facilities that consisted of the labelling team for its Autopilot driver assistance software and the ones that make fast-charging equipment.&nbsp;

Musk disbanded Tesla's Supercharger team on April 30.&nbsp;

Tesla’s supercharger system is among the largest charging networks in the world and was one the reasons the company enjoyed such a commanding lead over rival carmakers for so long. &nbsp;

He has shut down the division that runs Tesla’s Supercharger business, dismissed two senior executives Rebecca Tinucci, and Daniel Ho and fired hundreds more staff as the electric car maker continues its restructuring amid a sharp downturn in the EV market. 
&nbsp;

Amidst decreasing sales and an intensifying price war, Tesla revealed its plan to lay off another 601 employees in California in a notice to the state government.

Amidst decreasing sales and an intensifying price war, Tesla revealed its plan to lay off another 601 employees in California in a notice to the state government. The job cuts began a month ago and the automaker is on a roll to cut costs. On April 15, Tesla CEO Elon Musk announced that the carmaker would cut “more than 10 per cent” of its total workforce, more than 14,000 jobs, in order to be “lean, innovative and hungry”. According to sources familiar with the matter, since Musk wanted to slash 20% of its headcount, the electric vehicle maker has since then, conducted several rounds of job cuts. The urgency of the shift was highlighted by Tesla reporting a decline of almost 10 per cent in revenues in the first quarter of this year, its first year-on-year quarterly drop since the start of 2020. The share price has more than halved from its November 2021 peak of just under USD 410 a share. The latest round of layoffs would have a direct impact on employees at Tesla’s facilities in Palo Alto and Fremont, California. According to the Worker Adjustment and Retraining Notification (WARN), Tesla said that the layoffs would be implemented during the 14-day period beginning June 20, 2024. Last month, the electric car maker said that it would lay off 6,020 people in California and Texas, as part of the headcount cuts. The industry-wide job reduction also included 285 employees at its Buffalo, New York facilities that consisted of the labelling team for its Autopilot driver assistance software and the ones that make fast-charging equipment. Musk disbanded Tesla's Supercharger team on April 30. Tesla’s supercharger system is among the largest charging networks in the world and was one the reasons the company enjoyed such a commanding lead over rival carmakers for so long. He has shut down the division that runs Tesla’s Supercharger business, dismissed two senior executives Rebecca Tinucci, and Daniel Ho and fired hundreds more staff as the electric car maker continues its restructuring amid a sharp downturn in the EV market.

Tesla to cut around 600 more jobs in California

EV maker Zeekr saw its shares rise almost 35% above its initial public offering (IPO) price in the US, proving to be a strong start for the electric-vehicle maker. This is notably the first major US market debut by a Chinese company since 2021. As it successfully completed its US flotation, Zeekr aims to stand out among a swarm of Chinese EV makers competing for a larger share of the European market.

Thanks to the successful debut, Zeekr got a fully diluted valuation of USD 6.8 billion, or about half the USD 13 billion it fetched after a funding round last year. But ironically, its first day of trading happened when US President Joe Biden's administration planned on boosting tariffs on Chinese vehicle imports to the country.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/chinese-firms-secure-major-bids-in-iraqs-oil-and-gas-exploration-720801">Chinese firms secure major bids in Iraq's oil and gas exploration</a>

Zeekr is the premium brand of Chinese automaker Geely, which also owns Sweden's Volvo Cars and the UK's Lotus. The EV maker was formed in 2021 in order to tap into the growing demand for premium models in China. Since then, the brand has delivered nearly 200,000 cars, mostly in China, according to its IPO filing. Zeekr's CEO Conghui An, who is also the president of its parent company, told Reuters, "The capital markets in New York are very favorable for new energy vehicles. Zeekr is a global brand, and choosing to list in New York further demonstrates its global capabilities."

Zeekr has been eyeing expansion in other markets as fierce competition in China among domestic rivals and with Tesla has eroded its profits. All major Chinese automakers like BYD, SAIC and Great Wall Motor have been targeting Europe. They've been rolling out new electric models on the European turf with an aim to compete with the native legacy automakers. Thus, Chinese EV sales in Europe have soared in recent years.

Zeekr aims to become the Volkswagen Group of this era of new energy vehicles, said An, comparing the company to Europe's top automaker. The brand is more focused on the premium segment of the market.&nbsp;

(with inputs from Reuters)

EV maker Zeekr saw its shares rise almost 35% above its initial public offering (IPO) price in the US, proving to be a strong start for the electric-vehicle maker.

EV maker Zeekr saw its shares rise almost 35% above its initial public offering (IPO) price in the US, proving to be a strong start for the electric-vehicle maker. This is notably the first major US market debut by a Chinese company since 2021. As it successfully completed its US flotation, Zeekr aims to stand out among a swarm of Chinese EV makers competing for a larger share of the European market. Thanks to the successful debut, Zeekr got a fully diluted valuation of USD 6.8 billion, or about half the USD 13 billion it fetched after a funding round last year. But ironically, its first day of trading happened when US President Joe Biden's administration planned on boosting tariffs on Chinese vehicle imports to the country. Also Read: Chinese firms secure major bids in Iraq's oil and gas exploration Zeekr is the premium brand of Chinese automaker Geely, which also owns Sweden's Volvo Cars and the UK's Lotus. The EV maker was formed in 2021 in order to tap into the growing demand for premium models in China. Since then, the brand has delivered nearly 200,000 cars, mostly in China, according to its IPO filing. Zeekr's CEO Conghui An, who is also the president of its parent company, told Reuters, "The capital markets in New York are very favorable for new energy vehicles. Zeekr is a global brand, and choosing to list in New York further demonstrates its global capabilities." Zeekr has been eyeing expansion in other markets as fierce competition in China among domestic rivals and with Tesla has eroded its profits. All major Chinese automakers like BYD, SAIC and Great Wall Motor have been targeting Europe. They've been rolling out new electric models on the European turf with an aim to compete with the native legacy automakers. Thus, Chinese EV sales in Europe have soared in recent years. Zeekr aims to become the Volkswagen Group of this era of new energy vehicles, said An, comparing the company to Europe's top automaker. The brand is more focused on the premium segment of the market. (with inputs from Reuters)

Chinese EV maker Zeekr's shares rise nearly 35% in US market debut

In a shift from its initial plan to offer an all-electric lineup in Europe beyond 2030, Ford Motor Company is now considering offering gas-powered vehicles and hybrids in the region beyond the set timeline, the Detroit automaker said. Earlier in 2021, the company had outlined plans for an all electric lineup for Europe by the end of the decade.&nbsp;

However, due to slowing of EV adoption in the bloc, the company made a change in its plans. "As EV adoption in Europe has slowed, we believe we need to offer our customers ICE (internal combustion engine) and hybrid vehicle options beyond 2030," Ford said in a statement to Reuters. The company added that it is closely monitoring the situation and would adapt as necessary.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/german-carmakers-warn-eu-tariffs-on-chinese-evs-may-backlash-719665">German carmakers warn EU tariffs on Chinese EVs may backlash</a>

Over the past year, Europe has seen a rise in popularity of hybrid vehicles, which act as a bridge between gas-powered vehicles and EVs. This has prompted automakers to scale back on their plans to go fully electric by the end of the decade. Additionally, a lack of charging infrastructure in Europe has also deterred some buyers from switching over to EVs.

Still, global automakers are strategising to shift their gasoline-powered lineups to an all-electric powerhouse eventually and gradually, as they are under pressure to cut vehicle emissions and adapt greener technologies.

In a separate development, the US National Highway Traffic Safety Administration (NHTSA) has initiated an inquiry into Ford's BlueCruise hands-free driving technology, following two fatal collisions in which Mustang Mach-E SUVs hit parked vehicles. The safety agency will investigate the first 130,000 Ford Mustang Mach-E SUVs produced between 2021 and 2024 to determine whether these vehicles pose an unacceptable safety risk.

Ford assured it was cooperating with NHTSA to tackle the issue. Meanwhile, the National Transportation Safety Board (NTSB) has launched two independent investigations into the two crashes involving the Mustang Mach-E. In a fatal incident on February 24, a 2022 Mustang Mach-E using BlueCruise tech rammed into the rear of a stationary Honda CR-V on Interstate Highway 10 in San Antonio, Texas. On March 3, another Mach-E crashed in Philadelphia.

(with input from Reuters) 
&nbsp;

In a shift from its initial plan to offer an all-electric lineup in Europe beyond 2030, Ford Motor Company is now considering offering gas-powered vehicles and hybrids in the region beyond the set timeline, the Detroit automaker said.

In a shift from its initial plan to offer an all-electric lineup in Europe beyond 2030, Ford Motor Company is now considering offering gas-powered vehicles and hybrids in the region beyond the set timeline, the Detroit automaker said. Earlier in 2021, the company had outlined plans for an all electric lineup for Europe by the end of the decade. However, due to slowing of EV adoption in the bloc, the company made a change in its plans. "As EV adoption in Europe has slowed, we believe we need to offer our customers ICE (internal combustion engine) and hybrid vehicle options beyond 2030," Ford said in a statement to Reuters. The company added that it is closely monitoring the situation and would adapt as necessary. Also Read: German carmakers warn EU tariffs on Chinese EVs may backlash Over the past year, Europe has seen a rise in popularity of hybrid vehicles, which act as a bridge between gas-powered vehicles and EVs. This has prompted automakers to scale back on their plans to go fully electric by the end of the decade. Additionally, a lack of charging infrastructure in Europe has also deterred some buyers from switching over to EVs. Still, global automakers are strategising to shift their gasoline-powered lineups to an all-electric powerhouse eventually and gradually, as they are under pressure to cut vehicle emissions and adapt greener technologies. In a separate development, the US National Highway Traffic Safety Administration (NHTSA) has initiated an inquiry into Ford's BlueCruise hands-free driving technology, following two fatal collisions in which Mustang Mach-E SUVs hit parked vehicles. The safety agency will investigate the first 130,000 Ford Mustang Mach-E SUVs produced between 2021 and 2024 to determine whether these vehicles pose an unacceptable safety risk. Ford assured it was cooperating with NHTSA to tackle the issue. Meanwhile, the National Transportation Safety Board (NTSB) has launched two independent investigations into the two crashes involving the Mustang Mach-E. In a fatal incident on February 24, a 2022 Mustang Mach-E using BlueCruise tech rammed into the rear of a stationary Honda CR-V on Interstate Highway 10 in San Antonio, Texas. On March 3, another Mach-E crashed in Philadelphia. (with input from Reuters)

Ford planning to offer combustion-engine, hybrid vehicles in Europe beyond 2030

California-based company Lucid Group, Inc. (LCID) which designs, manufactures, and sells luxury electric vehicles, EV powertrains, and battery systems, forecasted a higher capital expenditure for this year and recapitulated the annual production forecast below Wall Street targets on Monday. This happened amid the decreasing demand for electric vehicles, sending its shares down nearly 9% in extended trading.

The forecast and the dip in stocks later during the day highlight the potential risks at bay for investors as the once-flourishing EV demand plummets and global competition intensifies. 
&nbsp; 
According to media reports, Gagan Dhingra, Lucid's interim finance chief, revealed that 
"From a capex perspective, we are making enhancements first in our Arizona factory because we are going from 30,000 installed capacity to 90,000." He added that capital was also being spent on building a factory in Saudi Arabia.

The company shared that it expected a capital expenditure of USD 1.5 billion in 2024 as it gears up to manufacture its Gravity SUV later this year, as compared to USD 910.6 million last year.

Contrasted with the 8,428 vehicles manufactured last year, Lucid was reportedly on track to produce 9,000 cars this year. However, seven analysts polled by Visible Alpha expected the company to produce 12,677 units on average in 2024. 
&nbsp; 
Lucid CEO Peter Rawlinson said the firm would make just enough cars to match demand. "Otherwise, if we just turn on the faucets and produce, then we're left with a big inventory, which would be imprudent."

In a conference call with analysts, Rawlinson added that the company is expecting a seasonal sales slowdown globally in the third quarter as consumers take vacation breaks.

With backing from Saudi Arabia's Public Investment Fund, the firm is also set to begin production of a relatively more affordable midsize car in the latter half of 2026 and its Gravity SUV this year, to cater to a more diverse customer base.

"Lucid's results were more of the same. Unsustainable margins, a high cash rate and no change to full-year production guidance. Not a lot of reason for optimism," shared Garrett Nelson, senior equity analyst at CFRA Research.

The company culminated the first quarter with cash and cash equivalents of USD 2.17 billion, compared with USD 1.37 billion in the fourth quarter of 2023. The sovereign wealth fund, which has invested billions in Lucid, added another USD 1 billion to the EV maker's balance sheet.&nbsp;

California-based company Lucid Group, Inc. (LCID) which designs, manufactures, and sells luxury electric vehicles, EV powertrains, and battery systems, forecasted a higher capital expenditure for this year and recapitulated the annual production forecast below Wall Street targets on Monday.

California-based company Lucid Group, Inc. (LCID) which designs, manufactures, and sells luxury electric vehicles, EV powertrains, and battery systems, forecasted a higher capital expenditure for this year and recapitulated the annual production forecast below Wall Street targets on Monday. This happened amid the decreasing demand for electric vehicles, sending its shares down nearly 9% in extended trading. The forecast and the dip in stocks later during the day highlight the potential risks at bay for investors as the once-flourishing EV demand plummets and global competition intensifies. According to media reports, Gagan Dhingra, Lucid's interim finance chief, revealed that "From a capex perspective, we are making enhancements first in our Arizona factory because we are going from 30,000 installed capacity to 90,000." He added that capital was also being spent on building a factory in Saudi Arabia. The company shared that it expected a capital expenditure of USD 1.5 billion in 2024 as it gears up to manufacture its Gravity SUV later this year, as compared to USD 910.6 million last year. Contrasted with the 8,428 vehicles manufactured last year, Lucid was reportedly on track to produce 9,000 cars this year. However, seven analysts polled by Visible Alpha expected the company to produce 12,677 units on average in 2024. Lucid CEO Peter Rawlinson said the firm would make just enough cars to match demand. "Otherwise, if we just turn on the faucets and produce, then we're left with a big inventory, which would be imprudent." In a conference call with analysts, Rawlinson added that the company is expecting a seasonal sales slowdown globally in the third quarter as consumers take vacation breaks. With backing from Saudi Arabia's Public Investment Fund, the firm is also set to begin production of a relatively more affordable midsize car in the latter half of 2026 and its Gravity SUV this year, to cater to a more diverse customer base. "Lucid's results were more of the same. Unsustainable margins, a high cash rate and no change to full-year production guidance. Not a lot of reason for optimism," shared Garrett Nelson, senior equity analyst at CFRA Research. The company culminated the first quarter with cash and cash equivalents of USD 2.17 billion, compared with USD 1.37 billion in the fourth quarter of 2023. The sovereign wealth fund, which has invested billions in Lucid, added another USD 1 billion to the EV maker's balance sheet.

Lucid’s annual vehicle production forecast for 2024 less than estimates

Swedish automaker Volvo Cars reported a rise of 27% in its April sales as compared to a year earlier. Sales stood at 65,838 cars last month, boosted by demand for electric and hybrid vehicles. Volvo Cars, majority-owned by China's Geely Holding witnessed sales of fully electric cars were up 94% and accounted for 26% of all sales globally in the month.

Volvo Cars' biggest market, Europe, saw jump of 65% in sales as compared to the same period last year, reaching 34,238 cars, with the company's fully electric small SUV, EX30, driving sales. In the United States, the company saw sales rise 10%, primarily driven by an 89% increase in plug-in hybrid car sales. Meanwhile, sales in China were down 3% compared to the same period last year.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/nio-plans-to-expand-global-presence-with-new-ev-models-718843">Nio plans to expand global presence with new EV models</a>

In a separate development, Volvo Cars has made a strategic investment in UK-based startup Breathe Battery Technologies with an aim to reduce charging time for its next generation of electric vehicles (EVs) by 30%. This move highlights Volvo’s commitment to enhancing the EV ownership experience and addressing consumer concerns over charging convenience.

Volvo Cars Tech Fund, the Swedish automaker’s corporate venture capital arm, facilitated this investment, marking a significant step towards advancing EV technology. Although the exact investment amount remains undisclosed, the company's partnership with Breathe Battery Technologies signals a shared vision for innovation in the EV sector.

With faster charging of EVs, customers will be encouraged to adopt battery-powered vehicles while those who already own EVs will witness a hassle-free ownership experience. Concerns related to charging infrastructure and charging speed is paramount in driving widespread EV adoption.

Apart from reducing EV charging times, Breathe Battery Technologies is also working on enhancing battery durability and performance. Their software solutions, already deployed in Oppo smartphones, aim to extend battery life and optimise performance. With its investment in Breathe Battery Technologies, Volvo Cars' underscores the company’s commitment to innovation and sustainability in the EV market.&nbsp;

Swedish automaker Volvo Cars reported a rise of 27% in its April sales as compared to a year earlier. Sales stood at 65,838 cars last month, boosted by demand for electric and hybrid vehicles.

Swedish automaker Volvo Cars reported a rise of 27% in its April sales as compared to a year earlier. Sales stood at 65,838 cars last month, boosted by demand for electric and hybrid vehicles. Volvo Cars, majority-owned by China's Geely Holding witnessed sales of fully electric cars were up 94% and accounted for 26% of all sales globally in the month. Volvo Cars' biggest market, Europe, saw jump of 65% in sales as compared to the same period last year, reaching 34,238 cars, with the company's fully electric small SUV, EX30, driving sales. In the United States, the company saw sales rise 10%, primarily driven by an 89% increase in plug-in hybrid car sales. Meanwhile, sales in China were down 3% compared to the same period last year. Also Read: Nio plans to expand global presence with new EV models In a separate development, Volvo Cars has made a strategic investment in UK-based startup Breathe Battery Technologies with an aim to reduce charging time for its next generation of electric vehicles (EVs) by 30%. This move highlights Volvo’s commitment to enhancing the EV ownership experience and addressing consumer concerns over charging convenience. Volvo Cars Tech Fund, the Swedish automaker’s corporate venture capital arm, facilitated this investment, marking a significant step towards advancing EV technology. Although the exact investment amount remains undisclosed, the company's partnership with Breathe Battery Technologies signals a shared vision for innovation in the EV sector. With faster charging of EVs, customers will be encouraged to adopt battery-powered vehicles while those who already own EVs will witness a hassle-free ownership experience. Concerns related to charging infrastructure and charging speed is paramount in driving widespread EV adoption. Apart from reducing EV charging times, Breathe Battery Technologies is also working on enhancing battery durability and performance. Their software solutions, already deployed in Oppo smartphones, aim to extend battery life and optimise performance. With its investment in Breathe Battery Technologies, Volvo Cars' underscores the company’s commitment to innovation and sustainability in the EV market.

Volvo Cars reports rise in April sales buoyed by EV demand

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Leapmotor, the chinese electric vehicle manufacturer, is preparing for the Indian market following the line of predecessors, including MG and BYD. In collaboration with Stellantis, which acquired a stake in Leapmotor’s global operation, aims to make its investment and initiation plans for the Indian public.

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Stellantis is a prominent player in India through Jeep and Citroen. And with partnership with Stellantis, Leapmotor has bolstered confidence in the enterprise in India even after strict policies and regulations monitoring investments from neighbouring countries.&nbsp;&nbsp;

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Due to approval issues from the government, BYD is currently facing challenges broadening the operations in India. On the other hand, MG Motor had to get an Indian partner involved to comply with the regulations – Sajjan Jindal’s JSW. In the previous year, Stellantis made an investment of USD 1.6 billion in Leapmotor and acquired approximately 20 percent of stakes, charting the way for a fruitful partnership.

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According to media reports, this strategic partnership has facilitated the creation of Leapmotor International, a joint venture predominantly focused on exporting and retailing Leapmotor products outside of China.

&nbsp;

&nbsp;"Leapmotor and Stellantis are likely to make an announcement about the India plans, and this may happen as early as the next few weeks," said media reports.

&nbsp;

Even though Stellantis has refused to comment on Leapmotor’s future entry into India, media reports indicate that the move could initiate the launch of affordable electric cars, further intensifying competition in the green car segment. The announcement of Leapmotor’s India plans along with Steallantis is predicted in the coming weeks, revealing a significant development in the Indian EV landscape.

&nbsp;

One of the world’s top automakers, Stellantis currently holds the reins of many brands across continents including Citroen, Jeep, Chrysler, Peugeot, Fiat and Maserati. Stellantis which is present in India through Jeep and Citroen and is currently gearing up to go on an override when it comes to expanding operations, introducing brands, widening retail, or making new investments.

Leapmotor, the chinese electric vehicle manufacturer, is preparing for the Indian market following the line of predecessors, including MG and BYD. In collaboration with Stellantis, which acquired a stake in Leapmotor’s global operation, aims to make its investment and initiation plans for the Indian public.

Leapmotor, the chinese electric vehicle manufacturer, is preparing for the Indian market following the line of predecessors, including MG and BYD. In collaboration with Stellantis, which acquired a stake in Leapmotor’s global operation, aims to make its investment and initiation plans for the Indian public. Stellantis is a prominent player in India through Jeep and Citroen. And with partnership with Stellantis, Leapmotor has bolstered confidence in the enterprise in India even after strict policies and regulations monitoring investments from neighbouring countries. Due to approval issues from the government, BYD is currently facing challenges broadening the operations in India. On the other hand, MG Motor had to get an Indian partner involved to comply with the regulations – Sajjan Jindal’s JSW. In the previous year, Stellantis made an investment of USD 1.6 billion in Leapmotor and acquired approximately 20 percent of stakes, charting the way for a fruitful partnership. According to media reports, this strategic partnership has facilitated the creation of Leapmotor International, a joint venture predominantly focused on exporting and retailing Leapmotor products outside of China. "Leapmotor and Stellantis are likely to make an announcement about the India plans, and this may happen as early as the next few weeks," said media reports. Even though Stellantis has refused to comment on Leapmotor’s future entry into India, media reports indicate that the move could initiate the launch of affordable electric cars, further intensifying competition in the green car segment. The announcement of Leapmotor’s India plans along with Steallantis is predicted in the coming weeks, revealing a significant development in the Indian EV landscape. One of the world’s top automakers, Stellantis currently holds the reins of many brands across continents including Citroen, Jeep, Chrysler, Peugeot, Fiat and Maserati. Stellantis which is present in India through Jeep and Citroen and is currently gearing up to go on an override when it comes to expanding operations, introducing brands, widening retail, or making new investments.

Chinese EV maker Leapmotor plans entry into India in collaboration with Stellantis

Due to the shift to electric vehicles in China and the US as well as a return to normal consumption after last year's bounce post Covid-19, analysts expect the global petrol demand growth to halve in 2024. This could lead to squeezing of the second-half refinery margins. The growth of gasoline has been lowest since 2020 with demand likely to rise 340,000 barrels per day (bpd) to stand at 26.5 million bpd this year, as per consultancy Wood Mackenzie.

The growth is down from growth of 700,000 bpd last year as China nears the point of peak transport fuel demand and the U.S. has surpassed it. "Penetration of electric vehicles has been increasing in US and China," Woodmac analyst Sushant Gupta told Reuters. "For this year Chinese demand will grow by only 10,000 bpd, due to higher EV uptake," he added.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/chinas-services-sector-shows-resilience-despite-easing-growth-caixin-pmi-reveals-718352">China's services sector shows resilience despite slowing growth, Caixin PMI reveals</a>

According to Consultancy Rystad Energy, the global gasoline demand is pegged at about 26 million bpd this year, up about 300,000 bpd from growth of about 700,000 bpd last year. This is fuelled by the consumption boom after the pandemic, analyst Mukesh Sahdev said.

World's largest auto market China was once the world's biggest driver of gasoline demand. However, now it is expected to account for more than half of all EV sales this year, as per the International Energy Agency. As per forecasts by a research arm of China National Petroleum Corp (CNPC), the world's largest crude importer's consumption is set to grow by about 1.3%, or about 2 million tons, to 165.1 million metric tons (3.8 million bpd) this year.

The research arm of the country's biggest refiner, Sinopec, expects gasoline demand to rise by 1.7%, or about 3 million tons, to stand at 182 million tons this year. On the other hand, the share of electric cars sold this year could reach 45% in China, about 25% in Europe and more than 11% in the United States, as per the IEA estimates.

On the contrary, countries are India and Indonesia are witnessing booming car sales, along with high economic growth and low EV penetration, driving gasoline demand. Petroleum consumption in India will hit a fresh record of 39.2 million tons (908,000 bpd) in the year to March 2025, up about 5% from 37.2 million tons in the year to March 2024, as per government estimates.

(with inputs from Reuters)

&nbsp;

Due to the shift to electric vehicles in China and the US as well as a return to normal consumption after last year's bounce post Covid-19, analysts expect the global petrol demand growth to halve in 2024.

Due to the shift to electric vehicles in China and the US as well as a return to normal consumption after last year's bounce post Covid-19, analysts expect the global petrol demand growth to halve in 2024. This could lead to squeezing of the second-half refinery margins. The growth of gasoline has been lowest since 2020 with demand likely to rise 340,000 barrels per day (bpd) to stand at 26.5 million bpd this year, as per consultancy Wood Mackenzie. The growth is down from growth of 700,000 bpd last year as China nears the point of peak transport fuel demand and the U.S. has surpassed it. "Penetration of electric vehicles has been increasing in US and China," Woodmac analyst Sushant Gupta told Reuters. "For this year Chinese demand will grow by only 10,000 bpd, due to higher EV uptake," he added. Also Read: China's services sector shows resilience despite slowing growth, Caixin PMI reveals According to Consultancy Rystad Energy, the global gasoline demand is pegged at about 26 million bpd this year, up about 300,000 bpd from growth of about 700,000 bpd last year. This is fuelled by the consumption boom after the pandemic, analyst Mukesh Sahdev said. World's largest auto market China was once the world's biggest driver of gasoline demand. However, now it is expected to account for more than half of all EV sales this year, as per the International Energy Agency. As per forecasts by a research arm of China National Petroleum Corp (CNPC), the world's largest crude importer's consumption is set to grow by about 1.3%, or about 2 million tons, to 165.1 million metric tons (3.8 million bpd) this year. The research arm of the country's biggest refiner, Sinopec, expects gasoline demand to rise by 1.7%, or about 3 million tons, to stand at 182 million tons this year. On the other hand, the share of electric cars sold this year could reach 45% in China, about 25% in Europe and more than 11% in the United States, as per the IEA estimates. On the contrary, countries are India and Indonesia are witnessing booming car sales, along with high economic growth and low EV penetration, driving gasoline demand. Petroleum consumption in India will hit a fresh record of 39.2 million tons (908,000 bpd) in the year to March 2025, up about 5% from 37.2 million tons in the year to March 2024, as per government estimates. (with inputs from Reuters)

EV growth in China, US could lead to slowing of gasoline demand this year

Hyundai Motor Group disclosed that the company is gearing up to launch its first hybrid cars in India as early as 2026. This shift in strategy comes as the South Korean auto conglomerate seeks to go beyond electric vehicles to cement its presence in the Indian market.

The group, which includes Hyundai Motor and Kia Corp, is considering launching a hybrid sport-utility vehicle in India. According to sources familiar with the matter, the proposed SUV which is expected to be similar in size to its popular mid-sized Creta SUV is currently under evaluation.

While Hyundai and Kia are progressing with their electrification plans for the Indian subcontinent, they are actively creating the framework for the launch of hybrid SUVs in the country by 2026 or 2027. As per media reports, Hyundai Motor Group stated that it was "committed to a future of electrified mobility and will optimise product strategies for each market".

Currently, Hyundai and Kia only retail gasoline and diesel cars and imported EVs including the IONIQ 5 and EV6, respectively. However, with the new strategy in action, the conglomerate will launch its first India-made EVs in the world's third-largest car market in 2025.

Hyundai's decision to focus on hybrid vehicles that will employ a gasoline powertrain and electric motor is motivated by the rapidly rising demand for technology in India. The company is improvising its approach to the Indian market by moving away from a strategy that solely focuses on battery electric vehicles.

The adoption of EVs has been relatively slow in India primarily because of high prices and subpar charging infrastructure, prodding the company to adopt hybrids as an “interim strategy”. According to media reports, "Hyundai has the hybrid technology in other markets. It has now begun work on tailoring that technology for cars in India to make it mainstream," adding that increasing consumer demand and acceptance of hybrids in recent months led to the shift.

Data shows that total car sales in India surpassed 4 million in 2023. Out of which, hybrids, led by Toyota Motor, accounted for nearly 2% of total car sales.

Hyundai's pivot to India includes plans for a USD 3-billion IPO, emphasising its long-term commitment to the Indian market. The decision follows a scaleback of production in China and the sale of its two Russian plants.

During his recent visit to India, Hyundai Motor Group Executive Chair Euisun Chung discussed mid and long-term strategies, including plans for electric and hybrid vehicles.

India stands as Hyundai's third-largest revenue generator after South Korea and the United States, and the company is strategically aligning itself to capitalise on the country's burgeoning automotive market by introducing hybrid vehicles alongside its electric vehicle lineup. 
&nbsp;

Hyundai Motor Group disclosed that the company is gearing up to launch its first hybrid cars in India as early as 2026. This shift in strategy comes as the South Korean auto conglomerate seeks to go beyond electric vehicles to cement its presence in the Indian market.

Hyundai Motor Group disclosed that the company is gearing up to launch its first hybrid cars in India as early as 2026. This shift in strategy comes as the South Korean auto conglomerate seeks to go beyond electric vehicles to cement its presence in the Indian market. The group, which includes Hyundai Motor and Kia Corp, is considering launching a hybrid sport-utility vehicle in India. According to sources familiar with the matter, the proposed SUV which is expected to be similar in size to its popular mid-sized Creta SUV is currently under evaluation. While Hyundai and Kia are progressing with their electrification plans for the Indian subcontinent, they are actively creating the framework for the launch of hybrid SUVs in the country by 2026 or 2027. As per media reports, Hyundai Motor Group stated that it was "committed to a future of electrified mobility and will optimise product strategies for each market". Currently, Hyundai and Kia only retail gasoline and diesel cars and imported EVs including the IONIQ 5 and EV6, respectively. However, with the new strategy in action, the conglomerate will launch its first India-made EVs in the world's third-largest car market in 2025. Hyundai's decision to focus on hybrid vehicles that will employ a gasoline powertrain and electric motor is motivated by the rapidly rising demand for technology in India. The company is improvising its approach to the Indian market by moving away from a strategy that solely focuses on battery electric vehicles. The adoption of EVs has been relatively slow in India primarily because of high prices and subpar charging infrastructure, prodding the company to adopt hybrids as an “interim strategy”. According to media reports, "Hyundai has the hybrid technology in other markets. It has now begun work on tailoring that technology for cars in India to make it mainstream," adding that increasing consumer demand and acceptance of hybrids in recent months led to the shift. Data shows that total car sales in India surpassed 4 million in 2023. Out of which, hybrids, led by Toyota Motor, accounted for nearly 2% of total car sales. Hyundai's pivot to India includes plans for a USD 3-billion IPO, emphasising its long-term commitment to the Indian market. The decision follows a scaleback of production in China and the sale of its two Russian plants. During his recent visit to India, Hyundai Motor Group Executive Chair Euisun Chung discussed mid and long-term strategies, including plans for electric and hybrid vehicles. India stands as Hyundai's third-largest revenue generator after South Korea and the United States, and the company is strategically aligning itself to capitalise on the country's burgeoning automotive market by introducing hybrid vehicles alongside its electric vehicle lineup.

Hyundai Motor Group shifts strategy: hybrid cars for India by 2026

Tesla has set its eye on India for sourcing its car components. But did you know that there are already some Indian companies manufacturing these car parts?

Tesla eyes India as its next production hub

An emerging trend of transforming vintage cars into electric vehicles has taken over the automobile industry, yet it appears that many classic car owners aren't keen on this revolutionary idea. We get you more details in this report.

Should you electrify your classic car?

There is a strong push for electric vehicles in India. Many automakers are working hard to revolutionise the EV sector in the country. Watch the report for more details.

The future of electric vehicles in India

A study has found that Electric vehicles also cause a lot of pollution. The emissions are released due to tyre wear. Since EVs are heavier than gasoline cars, they release more particulate matter.

Gravitas | Electric cars causing more pollution than gasoline cars finds study

A rising trend involves transforming vintage cars into electric vehicles. We introduce an entrepreneur utilising cutting-edge solutions for this very purpose. Find more details in this report.

American startup turns muscle cars into EVs

The cold weather is affecting electric vehicle batteries and reducing the distance the cars travel on a single charge. We get you more details in this report.

Cold weather: A big problem for electric vehicles | Tech It Out

Tesla is set to revolutionise the electric vehicle (EV) market with its ambitious "Redwood" project, aiming for mass-market penetration by mid-2025, as reported by Reuters in an exclusive report.&nbsp;

Tesla CEO Elon Musk&nbsp;has long been vocal about introducing affordable electric vehicles and self-driving robotaxis.

The realisation of these goals hinges on next-gen, cost-effective electric car platforms that align with Musk's vision of making sustainable transportation accessible to the masses.

<h2>Challenges amidst BYD's triumph</h2>

Despite Musk's initial promise of a $25,000 car in 2020, Tesla faced setbacks, eventually prompting a revival of the plan.

Meanwhile, China's BYD overtook Tesla as the leading EV maker in the last quarter of 2023. With the Model 3 sedan priced at $38,990, Tesla confronts the imperative to narrow the price gap for wider market adoption.

<a href="https://www.wionews.com/trending/revision-needed-elon-musk-throws-weight-behind-indias-bid-for-permanent-seat-at-unsc-682721">Also read |&nbsp;‘Revision needed,’ Elon Musk throws weight behind India’s bid for permanent seat at UNSC</a>

Tesla kicked off the Redwood project by soliciting "requests for quotes" from suppliers last year, projecting a weekly production volume of 10,000 vehicles. Production is slated to commence in June 2025, marking a significant leap toward Tesla's goal of expanding its footprint in the mass-market EV segment.

As Tesla gears up for its quarterly results, investor attention is keenly focused on the timing of next-gen compact vehicles. Musk, addressing concerns about consumer demand in the face of high-interest rates, has assured stakeholders that the Redwood model's design and manufacturing techniques surpass industry benchmarks.

Musk has unveiled plans for two groundbreaking products, with a combined sales potential of 5 million vehicles annually. This includes an affordable robotaxi and an entry-level $25,000 electric car, both sharing a common vehicle architecture. Walter Isaacson's biography of Musk sheds light on Tesla's bold vision for reshaping the EV landscape.

Tesla's history of missing launch targets and pricing challenges is evident, with the Cybertruck experiencing delays and a 50 per cent&nbsp;&nbsp;hike in its initially touted starting price.

To glean insights into cost-effective production, Tesla dissected a Honda Civic, priced at $23,950 in the US, demonstrating a meticulous approach to achieving affordability.

Also watch |&nbsp;Ram Mandir: Light show using Teslas organised in Houston ahead of consecration

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/ram-mandir-light-show-using-teslas-organised-in-houston-ahead-of-consecration-682150/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Beyond the Redwood project, Tesla's next-gen architecture, internally named "NV9X," is poised to include multiple models.

The company envisions manufacturing more affordable cars in Berlin and is exploring the possibility of a factory in India. With existing facilities in Shanghai and Fremont, California, Tesla strategically positions itself for the global shift towards accessible electric mobility.

(With inputs from agencies)

Tesla is set to revolutionise the electric vehicle (EV) market with its ambitious "Redwood" project, aiming for mass-market penetration by mid-2025, as reported by Reuters in an exclusive report.

Tesla is set to revolutionise the electric vehicle (EV) market with its ambitious "Redwood" project, aiming for mass-market penetration by mid-2025, as reported by Reuters in an exclusive report. Tesla CEO Elon Musk has long been vocal about introducing affordable electric vehicles and self-driving robotaxis. The realisation of these goals hinges on next-gen, cost-effective electric car platforms that align with Musk's vision of making sustainable transportation accessible to the masses. Challenges amidst BYD's triumph Despite Musk's initial promise of a $25,000 car in 2020, Tesla faced setbacks, eventually prompting a revival of the plan. Meanwhile, China's BYD overtook Tesla as the leading EV maker in the last quarter of 2023. With the Model 3 sedan priced at $38,990, Tesla confronts the imperative to narrow the price gap for wider market adoption. Also read | ‘Revision needed,’ Elon Musk throws weight behind India’s bid for permanent seat at UNSC Tesla kicked off the Redwood project by soliciting "requests for quotes" from suppliers last year, projecting a weekly production volume of 10,000 vehicles. Production is slated to commence in June 2025, marking a significant leap toward Tesla's goal of expanding its footprint in the mass-market EV segment. As Tesla gears up for its quarterly results, investor attention is keenly focused on the timing of next-gen compact vehicles. Musk, addressing concerns about consumer demand in the face of high-interest rates, has assured stakeholders that the Redwood model's design and manufacturing techniques surpass industry benchmarks. Musk has unveiled plans for two groundbreaking products, with a combined sales potential of 5 million vehicles annually. This includes an affordable robotaxi and an entry-level $25,000 electric car, both sharing a common vehicle architecture. Walter Isaacson's biography of Musk sheds light on Tesla's bold vision for reshaping the EV landscape. Tesla's history of missing launch targets and pricing challenges is evident, with the Cybertruck experiencing delays and a 50 per cent hike in its initially touted starting price. To glean insights into cost-effective production, Tesla dissected a Honda Civic, priced at $23,950 in the US, demonstrating a meticulous approach to achieving affordability. Also watch | Ram Mandir: Light show using Teslas organised in Houston ahead of consecration Beyond the Redwood project, Tesla's next-gen architecture, internally named "NV9X," is poised to include multiple models. The company envisions manufacturing more affordable cars in Berlin and is exploring the possibility of a factory in India. With existing facilities in Shanghai and Fremont, California, Tesla strategically positions itself for the global shift towards accessible electric mobility. (With inputs from agencies)

Tesla to start production of new electric vehicles by mid-2025

In a stride towards bolstering India's electric vehicle (EV) landscape, JSW Group has announced an investment of 400 billion rupees ($4.81 billion) in EV manufacturing projects in the coastal state of Odisha. <o:p></o:p>

This is based on a Reuters report.<o:p></o:p>

The conglomerate's ambitious move signals a determined challenge to both domestic and international players in the burgeoning Indian EV market, which accounted for approximately 2 per cent of total car sales last year. Leading the charge was Tata Motors, although the government is fervently eyeing a formidable 30 per cent share by 2023.<o:p></o:p>

JSW Group's colossal investment will unfold in three phases, according to a statement released on Monday. In the initial two phases, a whopping 250 billion rupees will be injected into the establishment of an EV battery manufacturing plant and an EV components plant. The third phase will witness an additional infusion of 150 billion rupees to set up a cutting-edge EV components manufacturing complex. <o:p></o:p>

The conglomerate's strategic partnership with China's SAIC Motor, formed in November, intensifies its commitment to green mobility and the development of a robust electric vehicle ecosystem in India. This collaboration reflects the broader trend of international cooperation to accelerate advancements in EV technology and infrastructure.<o:p></o:p>

Despite these ambitious strides, India is still at a crossroads regarding the potential reduction of import taxes on EVs. A top government official informed Reuters that a decision is pending under a proposed policy for carmakers committing to local manufacturing. <o:p></o:p>

The outcome could potentially pave the way for the entry of global giant Tesla into the Indian market, disrupting the status quo. However, stakeholders like Tata, Mahindra &amp; Mahindra, and South Korea's Hyundai Motor have urged New Delhi to maintain the current policy, discouraging any reduction in taxes on hybrids.<o:p></o:p>

JSW Group's monumental investment marks a significant chapter in India's transition towards sustainable and eco-friendly transportation.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

In a stride towards bolstering India's electric vehicle (EV) landscape, JSW Group has announced an investment of 400 billion rupees ($4.81 billion) in EV manufacturing projects in the coastal state of Odisha.

In a stride towards bolstering India's electric vehicle (EV) landscape, JSW Group has announced an investment of 400 billion rupees ($4.81 billion) in EV manufacturing projects in the coastal state of Odisha. This is based on a Reuters report. The conglomerate's ambitious move signals a determined challenge to both domestic and international players in the burgeoning Indian EV market, which accounted for approximately 2 per cent of total car sales last year. Leading the charge was Tata Motors, although the government is fervently eyeing a formidable 30 per cent share by 2023. JSW Group's colossal investment will unfold in three phases, according to a statement released on Monday. In the initial two phases, a whopping 250 billion rupees will be injected into the establishment of an EV battery manufacturing plant and an EV components plant. The third phase will witness an additional infusion of 150 billion rupees to set up a cutting-edge EV components manufacturing complex. The conglomerate's strategic partnership with China's SAIC Motor, formed in November, intensifies its commitment to green mobility and the development of a robust electric vehicle ecosystem in India. This collaboration reflects the broader trend of international cooperation to accelerate advancements in EV technology and infrastructure. Despite these ambitious strides, India is still at a crossroads regarding the potential reduction of import taxes on EVs. A top government official informed Reuters that a decision is pending under a proposed policy for carmakers committing to local manufacturing. The outcome could potentially pave the way for the entry of global giant Tesla into the Indian market, disrupting the status quo. However, stakeholders like Tata, Mahindra & Mahindra, and South Korea's Hyundai Motor have urged New Delhi to maintain the current policy, discouraging any reduction in taxes on hybrids. JSW Group's monumental investment marks a significant chapter in India's transition towards sustainable and eco-friendly transportation. (With inputs from Reuters)

JSW Group unleashes $5 bn investment surge into Eastern India's EV revolution

BYD is now world's most popular EV. BYD sold more units than Tesla in December quarter. Watch the video to get more insights!

BYD now holds crown as most popular EV maker

Tesla has clinched the top spot in Norway's electric car market for the third consecutive year. Despite a persistent conflict with Labour unions, the American electric vehicle giant expanded its lead over rivals, capturing a 20% share of the market in 2023.

Tesla overcomes union resistance, tops sales again

The United Kingdom is spending millions to develop technology that will lead to bidirectional charging of electric vehicles which in turn, would make them a power source in themselves. The step is being taken to help the country achieve its climate goals.

UK's Department for Energy Security and Net Zero said in a statement on Wednesday (Dec 20) that the government has awarded 4.8 million pounds (USD 6.1 million) to four projects that'll work towards developing V2X (vehicle-to-everything) systems.

These four projects are located in London, Chelmsford, Gateshead, and Leatherhead.

The vehicle-to-everything technology will allow owners of electric vehicles to charge them when electricity costs are low according to dynamic pricing and use the energy stored in these vehicles to run home appliances when prices are higher.

Watch | UK: PM Rishi Sunak's 7th by-election since July, to take place in Wellingborough

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In other words, bidirectional charging will allow electric vehicles, which usually take energy from the grid, to also release energy back into the grid. In an extrapolated scenario, by letting vehicle owners use energy from their vehicles for household appliances, the electrical grid saves up on fossil fuel power stations when electricity demand is high.

The funding from the government has come at a time when it is facing mounting calls from the industry to find a solution to the country's energy grid limitations.

It is expected that demand for electricity in the UK will double by 2035 as road transport and domestic heating get&nbsp;increasingly electrified. To meet the increasing electricity demand, networks will have to be upgraded and the generation of electricity boosted further.

Also Read | <a href="https://www.wionews.com/world/uk-begins-testing-of-hormone-free-male-birth-control-pill-with-16-participants-671874">UK begins testing of hormone-free male birth control pill with 16 participants</a> 
&nbsp; 
Support to develop bidirectional charging technology is expected to help the UK in achieving net-zero emissions by the year 2050. The country is also aiming to end the sale of all new non-zero emission vehicles by the year 2035.

Also Read | <a href="https://www.wionews.com/world/strong-opioids-which-are-300-times-stronger-than-heroin-infesting-uk-cities-top-cop-671748">Strong opioids which are 300 times stronger than heroin infesting UK cities: Top cop</a>

There is a greater push on the global level to take decisive steps to limit climate change, the ill effects of which have already begun to be evident.

(With inputs from agencies)

The United Kingdom is spending millions to develop technology that will lead to bidirectional charging of electric vehicles which in turn, would make them a power source in themselves.

The United Kingdom is spending millions to develop technology that will lead to bidirectional charging of electric vehicles which in turn, would make them a power source in themselves. The step is being taken to help the country achieve its climate goals. UK's Department for Energy Security and Net Zero said in a statement on Wednesday (Dec 20) that the government has awarded 4.8 million pounds (USD 6.1 million) to four projects that'll work towards developing V2X (vehicle-to-everything) systems. These four projects are located in London, Chelmsford, Gateshead, and Leatherhead. The vehicle-to-everything technology will allow owners of electric vehicles to charge them when electricity costs are low according to dynamic pricing and use the energy stored in these vehicles to run home appliances when prices are higher. Watch | UK: PM Rishi Sunak's 7th by-election since July, to take place in Wellingborough × In other words, bidirectional charging will allow electric vehicles, which usually take energy from the grid, to also release energy back into the grid. In an extrapolated scenario, by letting vehicle owners use energy from their vehicles for household appliances, the electrical grid saves up on fossil fuel power stations when electricity demand is high. The funding from the government has come at a time when it is facing mounting calls from the industry to find a solution to the country's energy grid limitations. It is expected that demand for electricity in the UK will double by 2035 as road transport and domestic heating get increasingly electrified. To meet the increasing electricity demand, networks will have to be upgraded and the generation of electricity boosted further. Also Read | UK begins testing of hormone-free male birth control pill with 16 participants Support to develop bidirectional charging technology is expected to help the UK in achieving net-zero emissions by the year 2050. The country is also aiming to end the sale of all new non-zero emission vehicles by the year 2035. Also Read | Strong opioids which are 300 times stronger than heroin infesting UK cities: Top cop There is a greater push on the global level to take decisive steps to limit climate change, the ill effects of which have already begun to be evident. (With inputs from agencies)

UK to fund bidirectional charging tech that'll make EVs a source of power

In a bid to attract major investments, Japan is set to offer 10 years of tax incentives, with a focus on electric vehicles and high-tech chip production. The plan aims to propel the nation into a leadership position in green transformation and technological innovation.

Japan's 10-year tax breaks propel electric vehicle & chip production

In the ever-evolving world of electric vehicles, there's a quiet revolution taking place that's set to change the way we drive. used electric vehicles are becoming a pivotal part of this shift, and one tesla manager - Michael Oates - believes they are absolutely crucial in making sustainable transportation accessible to everyone.

Used EVs: A silent revolution? | World Business Watch

Indian batsman Virat Kohli was announced as the newest celebrity team owner in the E1 World Championship on Tuesday (October 3), joining the likes of Rafael Nadal, Tom Brady, Didier Drogba and Sergio Perez in the world's first all-electric powerboat series.

The UIM E1 World Championship is the latest entry into the environmentally responsible motorsports competition, joining Formula E and off-road Extreme E, and is scheduled to begin racing next year in Jeddah, Saudi Arabia.

Kohli, widely regarded as one of the game's best batsmen, and sports tech entrepreneur Adi K Mishra will be principals at the helm of "The Blue Rising" team in the competition which is the brainchild of Formula E and Extreme E founder Alejandro Agag.

"I want to inspire people to have a competitive spirit and to raise awareness about sustainability issues, something I am becoming more and more passionate about as we build a family," Kohli, 34, said in a statement.

"I can't wait to cheer for our male and female pilots racing for our team."

<a href="https://www.wionews.com/sports/want-virat-kohli-to-win-world-cup-2023-and-be-carried-on-shoulders-former-india-star-virender-sehwag-641698">Also read |&nbsp;Want Virat Kohli to win World Cup 2023 and be carried on shoulders: Former India star Virender Sehwag</a>

Former Chelsea striker Drogba, seven-time NFL Super Bowl champion Brady, 22-time tennis Grand Slam champion Nadal and Formula One driver Sergio Perez were all previously named as team owners in the series.

Former India captain Kohli, who is preparing for the World Cup on home soil starting on Thursday, said he was looking forward to lining up against his fellow team owners once the competition begins.

"We're going electric, we're going flying over the water and we're going to try to win it for The Blue Rising," Kohli said.

The inaugural season will have stops in Venice, Monaco and Rotterdam with more venues to be announced later.

WATCH WION LIVE HERE:&nbsp;

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Indian batsman Virat Kohli was announced as the newest celebrity team owner in the E1 World Championship on Tuesday (October 3), joining the likes of Rafael Nadal, Tom Brady, Didier Drogba and Sergio Perez in the world's first all-electric powerboat series.

Indian batsman Virat Kohli was announced as the newest celebrity team owner in the E1 World Championship on Tuesday (October 3), joining the likes of Rafael Nadal, Tom Brady, Didier Drogba and Sergio Perez in the world's first all-electric powerboat series. The UIM E1 World Championship is the latest entry into the environmentally responsible motorsports competition, joining Formula E and off-road Extreme E, and is scheduled to begin racing next year in Jeddah, Saudi Arabia. Kohli, widely regarded as one of the game's best batsmen, and sports tech entrepreneur Adi K Mishra will be principals at the helm of "The Blue Rising" team in the competition which is the brainchild of Formula E and Extreme E founder Alejandro Agag. "I want to inspire people to have a competitive spirit and to raise awareness about sustainability issues, something I am becoming more and more passionate about as we build a family," Kohli, 34, said in a statement. "I can't wait to cheer for our male and female pilots racing for our team." Also read | Want Virat Kohli to win World Cup 2023 and be carried on shoulders: Former India star Virender Sehwag Former Chelsea striker Drogba, seven-time NFL Super Bowl champion Brady, 22-time tennis Grand Slam champion Nadal and Formula One driver Sergio Perez were all previously named as team owners in the series. Former India captain Kohli, who is preparing for the World Cup on home soil starting on Thursday, said he was looking forward to lining up against his fellow team owners once the competition begins. "We're going electric, we're going flying over the water and we're going to try to win it for The Blue Rising," Kohli said. The inaugural season will have stops in Venice, Monaco and Rotterdam with more venues to be announced later. WATCH WION LIVE HERE:

Cricket superstar Virat Kohli becomes team owner in electric powerboat series

In another shocking development, electric vehicles burst into flames in Florida after coming in contact with saltwater swirled up by Hurricane Idalia. The firefighters in Palm Harbor, Florida, citing the incidents that involved Teslas took to social media and warned hybrid car owners that their vehicles could combust if exposed to saltwater.

"If you own a hybrid or electric vehicle that has come into contact with saltwater due to recent flooding within the last 24 hours, it is crucial to relocate the vehicle from your garage without delay," the department said in a Facebook post. "Saltwater exposure can trigger combustion in lithium-ion batteries. If possible, transfer your vehicle to higher ground."&nbsp;

The warning was also issued for the owners of electric golf carts, scooters and bicycles, with lithium-ion batteries as these vehicles are also at a potential risk of catching fire when they get wet.&nbsp;

Saltwater poses a threat to such vehicles even when the water dries out as the salt residue can create "bridges" between the battery's cells, which can further create electrical connections that can ignite a fire.

In Florida, a Tesla car, which was submerged in Pinellas County, unexpectedly went up in flames when the fire crews were towing one of the vehicles, Palm Harbor Fire Rescue training chief Jason Haynes said as per CBS MoneyWatch.

Tesla, in its guidance for handling a submerged vehicle, has also warned the buyers about the risks.

Also read: <a href="https://www.wionews.com/world/desantis-will-not-meet-biden-during-presidents-trip-to-florida-to-survey-idalia-damage-631628">DeSantis will not meet Biden during president's trip to Florida for Idalia damage survey</a>

"Treat your vehicle as if it has been in an accident and contact your insurance company," Tesla says in its guidance for handling a submerged vehicle.&nbsp;

"Safely tow or move the vehicle at least 50ft (15m) from structures or other combustible materials such as other cars and personal property," the company adds.

<h2>Hurricane Idalia</h2>

Hurricane Idalia made landfall earlier this week on Wednesday (August 30) along Florida’s Big Bend region. After causing widespread damage and flooding, the weakened storm moved north to drench Georgia and the Carolinas. According to DeSantis, residents in Florida will have their power restored by the end of this weekend.&nbsp;

Ever since attending the first Republican debate in Milwaukee, DeSantis has completely shifted his attention to recovery efforts in his constituency. His press office said the campaign trail was currently on halt and it remains unclear when he will resume again.&nbsp;

(With inputs from agencies)

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In another shocking development, electric vehicles burst into flames in Florida after coming in contact with saltwater swirled up by Hurricane Idalia. The firefighters in Palm Harbor, Florida, citing the incidents that involved Teslas took to social media and warned hybrid car owners that their vehicles could combust if exposed to saltwater.

In another shocking development, electric vehicles burst into flames in Florida after coming in contact with saltwater swirled up by Hurricane Idalia. The firefighters in Palm Harbor, Florida, citing the incidents that involved Teslas took to social media and warned hybrid car owners that their vehicles could combust if exposed to saltwater. "If you own a hybrid or electric vehicle that has come into contact with saltwater due to recent flooding within the last 24 hours, it is crucial to relocate the vehicle from your garage without delay," the department said in a Facebook post. "Saltwater exposure can trigger combustion in lithium-ion batteries. If possible, transfer your vehicle to higher ground." The warning was also issued for the owners of electric golf carts, scooters and bicycles, with lithium-ion batteries as these vehicles are also at a potential risk of catching fire when they get wet. Saltwater poses a threat to such vehicles even when the water dries out as the salt residue can create "bridges" between the battery's cells, which can further create electrical connections that can ignite a fire. In Florida, a Tesla car, which was submerged in Pinellas County, unexpectedly went up in flames when the fire crews were towing one of the vehicles, Palm Harbor Fire Rescue training chief Jason Haynes said as per CBS MoneyWatch. Tesla, in its guidance for handling a submerged vehicle, has also warned the buyers about the risks. Also read: DeSantis will not meet Biden during president's trip to Florida for Idalia damage survey "Treat your vehicle as if it has been in an accident and contact your insurance company," Tesla says in its guidance for handling a submerged vehicle. "Safely tow or move the vehicle at least 50ft (15m) from structures or other combustible materials such as other cars and personal property," the company adds. Hurricane Idalia Hurricane Idalia made landfall earlier this week on Wednesday (August 30) along Florida’s Big Bend region. After causing widespread damage and flooding, the weakened storm moved north to drench Georgia and the Carolinas. According to DeSantis, residents in Florida will have their power restored by the end of this weekend. Ever since attending the first Republican debate in Milwaukee, DeSantis has completely shifted his attention to recovery efforts in his constituency. His press office said the campaign trail was currently on halt and it remains unclear when he will resume again. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Hurricane Idalia: Electric vehicles catch fire in Florida after being exposed to saltwater

Lawmakers in the UK have warned that Chinese electric cars imported to the country to reach net zero targets might enable Beijing&nbsp;to spy on citizens.&nbsp;

According to The Telegraph, the ministers are of the view that technology embedded in electric vehicles (EV) will allow the harvesting of&nbsp;information, including location data, audio recordings and video footage of the users.&nbsp;

“If it is manufactured in a country like China, how certain can you be that it won’t be a vehicle for collecting intel and data? If you have electric vehicles manufactured by countries who are already using technology to spy, why would they not do the same here?," reported The Telegraph citing a lawmaker.&nbsp;

“They are high-risk products. We know that China always thinks in very long terms. So if they were providing a product that could do more than just deliver the consumer’s desire to go from A to B, why would they not be doing it?”

<a href="https://www.wionews.com/videos/gravitas-china-pushes-civilians-to-become-spies-621794">Gravitas: China pushes civilians to become spies</a>

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Earlier, a cross-party group of MPs warned that Britain was poised to cede control of the&nbsp;critical infrastructure&nbsp;of its car market to Beijing “with all the attendant security risks”.

“It will be used with all of the data that they collect, and that’s how it becomes incredibly valuable and quite dangerous," said another official.&nbsp;

<h2>China set to take advantage of laws&nbsp;</h2>

Currently, Germany is the biggest supplier of cars to the UK. However, with the car companies facing quotas for zero-emissions sales from next year ahead of a ban on new petrol and diesel vehicles in 2030, China is expected to take over the spot.&nbsp;

Reports state that if car manufacturers fail to hit the numbers, they will have to either pay fines or buy credits from companies that exceed those targets. However, the caveat is that&nbsp;Chinese electric car companies and Chinese-sourced Teslas will be the biggest beneficiaries of it.&nbsp;China is one of the biggest players in the EV market and currently has half of the world's EVs.

Lawmakers are of the view that government should take its previous stance when it&nbsp;banned Chinese firm Huawei from UK's 5G networks, due to security concerns.&nbsp;&nbsp;

"These are realistic risks. All we have to do is look at how government tied themselves up with things such as 5G."

(With inputs from agencies)

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Lawmakers in the UK have warned that Chinese electric cars imported to the country to reach net zero targets might enable Beijing to spy on citizens. According to The Telegraph, the ministers are of the view that technology embedded in electric vehicles (EV) will allow the harvesting of information, including location data, audio recordings and video footage of the users.

Lawmakers in the UK have warned that Chinese electric cars imported to the country to reach net zero targets might enable Beijing to spy on citizens. According to The Telegraph, the ministers are of the view that technology embedded in electric vehicles (EV) will allow the harvesting of information, including location data, audio recordings and video footage of the users. “If it is manufactured in a country like China, how certain can you be that it won’t be a vehicle for collecting intel and data? If you have electric vehicles manufactured by countries who are already using technology to spy, why would they not do the same here?," reported The Telegraph citing a lawmaker. “They are high-risk products. We know that China always thinks in very long terms. So if they were providing a product that could do more than just deliver the consumer’s desire to go from A to B, why would they not be doing it?” Gravitas: China pushes civilians to become spies × Earlier, a cross-party group of MPs warned that Britain was poised to cede control of the critical infrastructure of its car market to Beijing “with all the attendant security risks”. “It will be used with all of the data that they collect, and that’s how it becomes incredibly valuable and quite dangerous," said another official. China set to take advantage of laws Currently, Germany is the biggest supplier of cars to the UK. However, with the car companies facing quotas for zero-emissions sales from next year ahead of a ban on new petrol and diesel vehicles in 2030, China is expected to take over the spot. Reports state that if car manufacturers fail to hit the numbers, they will have to either pay fines or buy credits from companies that exceed those targets. However, the caveat is that Chinese electric car companies and Chinese-sourced Teslas will be the biggest beneficiaries of it. China is one of the biggest players in the EV market and currently has half of the world's EVs. Lawmakers are of the view that government should take its previous stance when it banned Chinese firm Huawei from UK's 5G networks, due to security concerns. "These are realistic risks. All we have to do is look at how government tied themselves up with things such as 5G." (With inputs from agencies) WATCH WION LIVE HERE:

China will use its exported electric cars to 'spy' on Britain, fear UK lawmakers

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