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GM teams with enemy Tesla on EV charging; A bigger surprise than Ford partnership says analyst

(Updated - June 9, 2023 6:47 AM EDT)

General Motors (NYSE: GM) and Tesla (NASDAQ: TSLA) shares are up 3.4% and 4.4%, respectively, in pre-market Friday after the two companies announced a collaboration to integrate the North American Charging Standard (NACS) connector design into its EVs beginning in 2025.

GM CEO Barra also announced that GM customers will have access to an adapter that will allow users to access Tesla chargers starting early next spring.

In order to drive EV adoption, we need to have a robust charging... More

China launches nationwide car purchasing initiative following May sales report

In a significant effort to bolster demand in the world's largest automobile market, China unveiled Thursday a comprehensive nationwide initiative aimed at promoting car purchases, signaling a strong commitment to supporting the automotive industry.

The announcement from the Ministry of Commerce follows the release of data indicating a 7.3%... More

China vehicle sales jump 7.3% in May, NEVs lead the charge

Data released from the China Passenger Car Association (CPCA) Thursday shows that passenger vehicle sales in China rose 7.3% in May compared to last month, as the Chinese government extended tax incentives to shore up demand amid a lagging economic recovery.

The data shows vehicle sales in May reached a total of 1.76 million units.... More

Lucid (LCID) to bring their luxury EVs to China

On Thursday, Zhu Jiang, the head of Lucid Group's operations in China, announced that the U.S. luxury electric vehicle (EV) manufacturer, Lucid Group (NASDAQ: LCID), is preparing to enter the global automotive industry's biggest market.

The US EV startup currently sells its Air luxury sedans in the United States,... More

Tesla (TSLA) in advanced talks for to build factory in Valencia – reports

Spanish newspaper, Cinco Dias reported on Thursday, citing unidentified sources close to the discussions, that U.S. electric car manufacturer Tesla (NASDAQ: TSLA) is in talks with the leaders of the regional government of Valencia in Spain to build a car factory in the metropolitan area.

During the... More

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