In response to the challenge of declining sales in the European market, Tesla announced the re-launch of free Supercharging service and offered consumers substantial discounts. This move is aimed at boosting its sales in the European market, especially in the face of unsatisfactory sales performance so far this year, Tesla strives to achieve a record global delivery target in the fourth quarter. According to the latest data released by EU-EVs, Tesla’s sales in Europe have declined significantly this year. Compared with the same period last year, Tesla’s car deliveries in Europe have decreased by about 85,000 vehicles, facing multiple challenges such as intensified market competition and volatile consumer demand. This […]
Tesla has announced its sixth recall of the year, this time affecting 2,431 units of its highly anticipated Cybertruck electric pickup. The recall is being issued due to a fault in the vehicle’s drive inverter, which could potentially increase the risk of a crash. The affected vehicles were manufactured between November 6, 2023, and July 30, 2024, and are being recalled in the United States. According to Tesla, the issue is related to a malfunction in the drive inverter, which is responsible for converting DC power to AC power for the motor. If the inverter fails, it could cause a loss of power to the vehicle, possibly resulting in […]
German automotive giant Porsche SE announced its financial results for the first nine months of 2024, revealing a significant decline in net profit. The company reported a 33% drop in after-tax earnings, which fell to €2.5 billion, largely due to the performance of its investments in Porsche and Volkswagen. According to the report, the decline in profits was primarily due to underperformance in the returns from its investments in the two automotive brands, especially in light of global market uncertainties and fierce competition. Despite the setback, Porsche SE expressed cautious optimism for the future and reaffirmed its commitment to supporting Volkswagen’s ongoing cost-reduction initiatives, expecting that the German carmaker […]
According to Reuters, on November 12, German Automotive Manufacturers Volkswagen Group and American electric vehicle startup Rivian announced that Volkswagen will increase its investment in RIVIAN, which has increased by 16%to 5.8 billion US dollars to start the two parties to start the two parties. The planned joint venture jointly develops electric vehicle architecture and software. The two companies said that the joint venture between the two parties RIVIAN and VW Group Technology LLC aims to integrate advanced electrical infrastructure and RIVIAN software technology to provide support for the future of all related model segments […]
According to Reuters, recently, Hyundai Motor India, the second largest car manufacturer in India, released its first financial report after its listing. In the last quarter, the company’s quarterly profit decreased by 16.5%due to the decline in domestic sales in India and the tension of the Red Sea. According to the financial report of Hyundai Automobile India, in July to September this year, the company sold 149,639 vehicles in the Indian market and exported 42,300 vehicles; revenue decreased by 7.5%year-on-year The 16.02 billion rupees fell to 13.38 billion rupees (about 158.6 billion US dollars). The company […]
According to the European Automobile News, a spokesman for Volkswagen Group on November 12 said the company failed to find a buyer for its Audi factory in Brussels, which may cause the factory to be closed. It is reported that a potential investor from the commercial vehicle industry has withdrawn the letter of intent. The above -mentioned spokesman said, “The factory has no potential investors, so the active finding investors’ work has ended.” The current focus is to discuss the layoff plan. According to the spokesman, the working group who found other possibilities for the factory hopes to […]