BYD became the largest electric vehicle
company in the world in Q4 2023, CNN reports.
.
During the last quarter of the year, the
Chinese company, backed by Warren Buffett,
sold 525,409 battery electric vehicles (BEVs).
.
Tesla only sold 484,507, although it was
still a record for Elon Musk's venture.
.
However, when considering the year as a
whole, Tesla outpaced BYD with 1.8 million
BEVs sold, compared to 1.57 million for BYD.
However, when considering the year as a
whole, Tesla outpaced BYD with 1.8 million
BEVs sold, compared to 1.57 million for BYD.
The data means that the gap between
Tesla and BYD is narrowing.
In 2022, Tesla sold 400,000 more
units than its Chinese rival.
In 2023, the gap was only
at about 230,000 units.
.
Beijing previously set a goal that 20% of new
vehicles sold each year in China would be new energy
vehicles (BEVs, plug-in hybrids, etc.) by 2025.
The country has already reached
that goal and would like new energy
vehicles to be "mainstream" by 2035.
Miao Wei, former minister of China’s Ministry of Industry
and Information Technology, expects new energy vehicles to make up 50% of the market by 2025 or 2026, CNN reports.
.
China is now leading in production
and increasing its comparative edges,
banking on its massive domestic
market and the first mover advantage, Analysts from Natixis Asia,
a French investment bank,
via Nov.
Hundreds of protesters wanting to stop the expansion of a Tesla factory near Germany's capital of Berlin were blocked by police as they attempted to storm the.. Sky News
Hundreds of protesters attempted to storm Tesla's factory near Berlin Friday ... and CEO Elon Musk has already called out the demonstrators -- who got into an.. TMZ.com
Dive into the controversy surrounding Tesla's recent layoffs as Elon Musk's termination mail, described as 'insensitive', sparks outrage among employees and netizens. Join us as we explore the fallout and hear firsthand accounts from affected employees, shedding light on the human impact of corporate decisions.
#ElonMusk #ElonMuskMail #Tesla #TeslaLayoff #TeslaTerminationMail #TeslaEmployee #TeslaNews #Oneindia
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Elon Musk , Loses Appeal of , 'Twitter Sitter' Provision .
On April 29, the Supreme Court denied billionaire
Elon Musk's challenge to the terms of a Securities
and Exchange Commission agreement. .
On April 29, the Supreme Court denied billionaire
Elon Musk's challenge to the terms of a Securities
and Exchange Commission agreement. .
NBC reports that the SEC requirement
would require a lawyer to review
the Tesla CEO's social media posts. .
In his appeal, Musk argued that the SEC's requirement,
which has been dubbed the 'Twitter sitter' provision,
unlawfully imposed conditions on his freedom to comment. .
In his appeal, Musk argued that the SEC's requirement,
which has been dubbed the 'Twitter sitter' provision,
unlawfully imposed conditions on his freedom to comment. .
The SEC requirement stems from Musk's tweets in 2018 that
claimed he was taking Tesla private, which shocked the
market and caused shares in the company to surge.
The SEC requirement stems from Musk's tweets in 2018 that
claimed he was taking Tesla private, which shocked the
market and caused shares in the company to surge.
The SEC deemed the tweets
"materially false and misleading,"
and in clear violation of securities laws.
At the time, Musk agreed to settle the issue
with the SEC, which included his signing off
on the so-called "Twitter sitter" provision.
NBC reports that Musk has since said
the restrictions are unconstitutional and that
he was coerced into signing the SEC agreement.
According to court papers, lawyers
representing Musk have accused the SEC
of waging an "ongoing campaign" against Musk.
Musk's legal team claim the provision , "restricts Mr. Musk’s speech even
when truthful and accurate.".
It extends to speech not
covered by the securities laws
and with no relation to the conduct
underlying the SEC’s civil action, Elon Musk legal team, via NBC.
In response, the SEC said in court papers
that Musk waived his right to appeal
when he signed off on the settlement.
Credit: Wibbitz Top Stories Duration: 01:31Published
Tesla Sales Drop , More Than Expected.
The automaker has posted its first yearly drop in sales since the onset of the pandemic, CNN reports. .
The company reportedly built
433,000 units but only delivered 387,000.
That's significantly less than the 484,507 vehicles
it delivered in the last three months of 2023.
Tesla shares fell 5% on April 1. .
Tesla partially attributed the sales
drop to increased production of the
updated Model 3 at its factory in Fremont.
The company also cited factory shutdowns caused by ships being diverted from the Red Sea because of attacks by Iran-backed Houthi militants, CNN reports.
The company also cited factory shutdowns caused by ships being diverted from the Red Sea because of attacks by Iran-backed Houthi militants, CNN reports.
Additionally, its factory in Germany shut down for a week because of an arson attack. .
Increased competition from brands such as
China's BYD have also impacted sales, CNN reports. .
Increased competition from brands such as
China's BYD have also impacted sales, CNN reports. .
Wedbush Securities analyst Dan Ives
referred to Tesla demand in China as
"very soft coming out of the gates for 2024.".
While we were anticipating a bad first
quarter, this was an unmitigated
disaster that is hard to explain away, Wedbush Securities analyst Dan Ives, via note to clients.
We view this as a seminal moment
in the Tesla story for Musk to either
turn this around and reverse the
black eye first quarter performance. , Wedbush Securities analyst Dan Ives, via note to clients.
Otherwise, some darker days could
clearly be ahead that could disrupt
the long-term Tesla narrative, Wedbush Securities analyst Dan Ives, via note to clients
Credit: Wibbitz Top Stories Duration: 01:30Published
Musk is viewed in China as a favourable contrast to the stern statements from US officials, particularly during the recent visit by US Secretary of State Antony Blinken.
Credit: euronews (in English) Duration: 00:50Published
Elon Musk found himself in the crosshairs of controversy once again as he clashed with Australian authorities over content censorship on his platform, X. The dispute stemmed from a court order instructing X to remove video posts depicting a violent incident involving an Assyrian bishop. Musk, known for his outspoken nature, accused Australian leaders of attempting to stifle internet freedom, drawing condemnation from lawmakers.
#ElonMusk #AnthonyAlbanese #ElonMuskVsAustralia #XStabbingPosts #PostCensorship #Australia #SenatorTargeted #XDispute #SydneyChurchStabbing #CensorshipBattle #GunLawsDebate #InternetFreedom #ContentRegulation #LegalChallenge
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Xu Feihong, China's new envoy to New Delhi, appointed by President Xi Jinping, aims to strengthen China-India ties amidst the Ladakh standoff. Emphasizing.. IndiaTimes
China's leader is anticipated to solidify several agreements with Hungarian Prime Minister Viktor Orbán, further cementing Beijing's economic presence in the region.
Credit: euronews (in English) Duration: 01:43Published
China's President Xi Jinping is embarking on a rare visit to Paris, with French President Emmanuel Macron poised to address pressing issues such as trade imbalances and seek Chinese support regarding the conflict in Ukraine. However, achieving these objectives during Xi's brief two-day visit to France will prove challenging, given the backdrop of escalating trade tensions between Europe and China. France is actively supporting a European Union investigation into Chinese exports of electric vehicles, while Beijing's recent initiation of an inquiry into brandy imports, predominantly from France, is widely perceived as retaliatory. Against this backdrop, Macron's administration is keen to emphasise the necessity of obtaining further assurances from Chinese authorities on trade matters. Xi's visit marks his first trip to Europe in half a decade, underscoring the significance of the occasion.
#XiJinping #EmmanuelMacron #ChinaFranceRelations #TradeTalks #UkraineConflict #RussiaUkraineWar #ChinaEU #Tensions #FranceChinaTrade #Diplomacy #GlobalRelations #LeadershipSummit #InternationalAffairs #Geopolitics #DiplomaticRelations
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India protests Beijing's road construction in Shaksgam Valley, asserting Indian territory. Rejects China-Pakistan Boundary Agreement. Warns of necessary measures.. IndiaTimes
Backup Camera Glitch , Prompts Tesla to Recall , 200,000 Vehicles.
NBC reports that Tesla will recall approximately
200,000 vehicles over a software glitch that
could cause rearview cameras to..
Credit: Wibbitz Top Stories Duration: 01:30Published
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