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Tesla's (TSLA) Elon Musk meets with Mongolian PM to discuss potential EV investments

Tesla (NASDAQ: TSLA) CEO Elon Musk met virtually with Prime Minister Luvsannamsrain Oyun-Erdene from Mongolia on Tuesday where the two discussed potential investments and cooperation in the electric vehicle sector.

Mongolia is abundant in valuable resources such as coal, copper, gold, silver, and various metallic ores. Over the past years, foreign investors have... More

Volvo launches EX30 electric SUV

Swedish luxury automaker, Volvo launched their new fully-electric EX30 SUV on Wednesday with two battery options and a starting price of around 36,000 euros ($38,500). The EX30 is Volvos smallest SUV to date and follows the unveiling of the larger electric EX90 in November.

"It's a small SUV doing Volvo things," CEO Jim Rowan said during the car's launch event in Milan,... More

Eneco will use Tesla (TSLA) battery packs to build a 50 MW storage plant in Belgium

Dutch energy company Eneco revealed Wednesday that it is planning to build a 50 megawatt (MW) battery energy storage project in Belgium using Tesla (NASDAQ: TSLA) battery packs, its largest such project to date.

The project will consist of 53 Megapack battery packs with the capacity to provide a continuous energy supply for 4 hours, accumulating a... More

EPA to scrap proposed EV volumes from biofuel blending rule

Reuters reports today, citing three unnamed sources familiar with the matter that the Biden administration is planning to discard a proposal to include the electric vehicle industry into the U.S. biofuel blending program. Additionally, the administration intends to retract tradable credits worth potentially billions of dollars that were associated with this initiative.

It was first reported in early May that the Environmental Protection Agency (EPA) was considering delaying the EV program over concerns the plan could trigger lawsuits. The... More

Tesla (TSLA) Model 3 now more affordable than Toyota Camry in California

President Joe Biden's administration confirmed Tuesday that after a rapid adjustment of its battery supply chain, the Tesla (NASDAQ: TSLA) Model 3 now qualifies for the full $7,500 tax credit, meaning that it has become more affordable than the Toyota Camry in California.

New battery sourcing... More

Global EV penetration reaches 14% in April with promising uptick in May

Barclays April report card shows that global electric vehicle penetration reached 14% in April, slightly outpacing last years EV penetration of 13%; however, it fell short of the heightened levels observed in the fourth quarter of 2022. Shifting focus to May, the industry is demonstrating promising signs of a substantial m/m increase in EV penetration, indicating a positive trajectory.

Additionally, while Tesla's (NASDAQ: TSLA) market share remains stable, the actual strength might not be as robust as the price reductions would have you expect. Lastly, the US electric vehicle market continues to make... More

Morgan Stanley reiterates Overweight on Tesla (TSLA) as Model 3 qualifies for full $7500 tax credit

Morgan Stanley reiterated an Overweight rating and $200.00 price target on Tesla (NASDAQ: TSLA) after the electric automaker announced that the companys Model 3 will now qualify for the full $7,500 EV tax credits offered under the Inflation Reduction Act (IRA).

The consumer tax credit for clean vehicles, totaling $7,500, under the provisions of the IRA, is divided into two components. Electric vehicles (EVs) can receive $3,750 if 50% of the value of their battery components were manufactured or assembled in North America. The remaining $3,750 is contingent on 40% of the value of critical materials being... More

Ford's (F) deal with Tesla (TSLA) charges up industry and sparks standardization talks

The recent move by Ford Motor Co (NYSE: F) to grant its customers access to Tesla's (NASDAQ: TSLA) electric-vehicle charging network has caused significant waves in the industry. This decision has sparked discussions about the need for a standardized charging infrastructure across the United States and has also cast uncertainty on the future of struggling charging startups.

The deal, announced last month, outlined plans to provide drivers of Ford vehicles in North America with access to over 12,000 Tesla Superchargers, starting in 2024. Under the deal, Ford will... More

Tesla (TSLA) recalls some Model Y EVs as steering wheels might fall off…again

Tesla Inc. (NASDAQ: TSLA) has announced a voluntary recall of 137 Model Y electric vehicles due to a potential safety concern. The recall was prompted by the discovery of a loose fastener by a service technician, which could potentially result in the steering wheel detaching completely. Tesla estimates that approximately 10 percent of the affected vehicles may have this issue.

A loose... More

Tesla's (TSLA) Model Y surpasses Toyota’s (TM) RAV4 to become the best selling SUV in Australia

The latest data received from the Federated Chamber of Automotive Industries shows that Tesla (NASDAQ: TSLA) sold 3,178 units of the Model Y in May, overtaking the Toyota (NYSE: TM) RAV4 as the bestselling SUV in Australia and the third bestselling car of any type.

The only models to... More

Tesla (TSLA) delivers 77,695 China-made EVs in May

Newly released data from the China Passenger Car Association (CPCA) shows that electric automaker, Tesla, Inc. (NASDAQ: TSLA) delivered 77,695 China-made electric vehicles (EV) in May. This marks a 142% increase when compared to the same month in 2022 when production was affected by COVID-19 containment measures in... More