Electric cars

    • Tesla steps up output to gain robust growth in Q3

      Tesla steps up output to gain robust growth in Q3

      The Chief Executive Officer and main shareholder in electric car maker Tesla Elon Musk urged employees to "go super hardcore" to make up for production challenges early in the third quarter and "ensure a decent Q3 delivery number," according to an internal email, quoted by Reuters. "The end of quarter delivery wave is unusually high this time, as we suffered like the whole industry from extremely severe parts shortages earlier this quarter," he said.

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    • Tesla halts China output over chip shortage

      Tesla halts China output over chip shortage

      US electric car maker Tesla announced it suffered from the global semiconductor chip shortage and was forced to halt temporarily production in its key factory in China. The semiconductor chips are essential for the automotive industry. Part of a production line at the Tesla's China plant was stopped for several days in August, Reuters said, quoting a company's report.

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    • Panasonic Q2 profit jumps more than 27 times to $950m

      Panasonic Q2 profit jumps more than 27 times to $950m

      The Japanese electric appliances conglomerate Panasonic announced operating profits for the second quarter of 2021 which topped even the most optimistic expectations. Surging demand for car batteries drove Panasonic operating profit to exceed 27 times last year's results, Reuters elaborated. The soaring profits came on the back of economic rebound from the 2020 pandemic year.

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    • Electric cars sales jumped in Europe, ACEA data show

      Electric cars sales jumped in Europe, ACEA data show

      Electric cars, key to reducing emissions and meeting climate change goals, have boosted their market share in Europe, data showed on Friday, as the region prepares to abandon petrol and diesel, dpa reported. Battery electric vehicles more than doubled their share of new car sales in Europe in the second quarter, according to the European Automobile Manufacturers' Association (ACEA) which groups together major car firms.

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    • Stellantis vows to invest €30bn in EVs

      Stellantis vows to invest €30bn in EVs

      The car production conglomerate Stellantis announced it would invest €30bn in electric vehicles by the end of 2021. The company earmarked a target to make the total cost of owning an electric vehicle equal to that of a petrol-driven model by 2026, BBC elaborated. Stellantis said it would build at least five battery plants across Europe and in US to implement its strategy. It has already announced two plants in France and Germany, and the third will be in Italy.

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    • Tesla output rises amid higher prices, chip shortages

      Tesla output rises amid higher prices, chip shortages

      The output of the electric car maker Tesla surged in the second quarter to top 200,000 units. The volume exceeds twice the results posted in 2020, CNN reported. The car maker dismissed higher prices of inputs as well as reputation difficulties in China and a shortage of semiconductor chips to stay on track its original 2021 output plans.

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    • Germany has 1m electric cars in the streets

      Germany has 1m electric cars in the streets

      Germany is on the verge to achieve a very important goal linked to protecting the environment. The country will have 1 million electric cars on the road by end of July, Economy Minister Peter Altmaier told Tagesspiegel daily. Germany had the 1m target set for 1 January but even then the task seemed hard to tackle. Still the latest figures showed a surge in demand driven by post-pandemic economic recovery. End demand was further boosted by state subsidies for the purchase of electric cars.

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    • Renault sets multi-billion car batteries tie-ups

      Renault sets multi-billion car batteries tie-ups

      The French car producer Renault announced it had reached multi-billion agreements aimed to facilitate the production of EV batteries, Reuters reported. Renault will partner with with Chinese Envision AESC and French Vektor. The production facilities are located in northern France. The producers of vehicles worldwide have opened a race to make cleaner vehicles, a technology shift that is already prompting Germany's Volkswagen to build six battery cell plants of its own in Europe.

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    • Volvo teams Northvolt to set a battery gigafactory

      Volvo teams Northvolt to set a battery gigafactory

      The Swedish carmaker Volvo announced plans to join Northvolt in the development of car batteries as demand for electric vehicles is surging, Reuters reported. Under the new tie-up, the to companies will set a research and development centre in Sweden with the ambition to establish a battery gigafactory The project should become operational by 2022 and should produce a potential capacity to up to 50 gigawatt hours (GWh) per year in 2026.

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    • Tesla hikes prices on soaring raw materials

      Tesla hikes prices on soaring raw materials

      US producer of electric cars Tesla is forced to raise the prices of vehicles due to surging costs of raw materials, Reuters reported citing Tesla's CEO and majority stock holder Elon Musk. Musk elaborated on increased prices during an exchange of messages on Twitter. "Prices increasing due to major supply chain price pressure industry-wide. Raw materials especially," Musk added.

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