Tesla's April sales of China-made EVs down 14.7% from March - CPCA

U.S. EV shares slump following news of Lucid (LCID) and Fisker (FSR) poor 1Q results and production cuts

U.S. electric automakers saw a decline in share prices Tuesday morning following cuts to production forecasts by Lucid Group Inc (NASDAQ: LCID) and Fisker Inc (NYSE: FSR), with Lucid sliding 9% in early trading.

Fisker shares were last down 5.3% after the company reported quarterly results. The company reported 1Q EPS of ($0.38), $0.08 worse than the analyst estimate of ($0.30). Revenue for the quarter came in at $198 thousand versus the consensus estimate of $6.33 million. The EV maker also announced... More

Barclays predicts April back step as EV penetration reaches 14% in March report card

Barclays released a March EV report card as EV penetration reached 14%, up m/m and y/y, but still below elevated 4Q22. Analyst Dan Levy believes April is poised to be a slight step back in uptake, in-line with typical 1st month-of-quarter patterns. Tesla (NASDAQ: TSLA), however, had an impressive March share, benefiting from price cuts and an increased focus on low cost EVs exported from China.

China once again had the highest EV penetration rate among the major global regions (30% in March), yet was flat m/m.... More

Tesla (TSLA) to introduce 'end-to-end AI' in FSD v12 says Musk

With the imminent release of Teslas (NASDAQ: TSLA) Full Self-Driving (FSD) v11.4 to employees this week, Musk said the new version will feature so many major improvements and that it should becalled v12. However, The billionaire CEO commented on twitter that the v12 is reserved for when FSD is end-to-end AI, from images in to... More

Tesla (TSLA) to hold groundbreaking ceremony at Texas refinery Monday

Electric vehicle giant, Tesla (NASDAQ: TSLA) will hold a groundbreaking ceremony Monday to celebrate construction of its new $375 million lithium refinery just outside Corpus Christi. The companys billionaire CEO Elon Musk and Texas Gov. Greg Abbott are both expected to speak at the event.

The Tesla lithium refinery in Texas will produce battery-grade lithium. Tesla has noted that it will... More

Chinese state media reports country will speed construction of EV charging facilities

Chinese state media reports Friday, quoting the nation's cabinet, that the country will speed up the construction of charging facilities for new energy vehicles (NEV) such as electric cars, and improve policies for purchasing and using them.

The government is studying policies to promote auto consumption and support... More

Tesla (TSLA) delivered 75,842 China-made vehicles in April, down 14.7% from March

China Passenger Car Association (CPCA) showed on Friday that electric vehicle maker Tesla delivered 75,842 China-made vehicles in April. Deliveries were down 14.7% compared to March, but a huge jump from a year earlier, when the city of Shanghai was in a COVID-19 lockdown. In April last year, the company delivered only 1,512 China-made Model 3 and Model Y cars.

Rival... More

Tesla (TSLA) increases price of new Model S and X in China

According to the companys website Friday, electric automaker, Tesla (NASDAQ: TSLA) raised prices on their Model S and Model X vehicles in China. The move follows hikes to its other vehicles three days prior.

The automaker raised prices by 19,000 Chinese yuan ($2,749)... More