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The world’s first mass market electric car is getting a facelift
Economic Times
·
1m ago
Medial
Nissan Motor Co. is revitalizing its lineup by launching a revamped version of the Leaf, the world’s first mass-market electric vehicle, which has sold nearly 700,000 units since 2010. Amid financial challenges, CEO Ivan Espinosa is steering an aggressive restructuring, including job cuts and plant closures, to recover the company's position. The new Leaf boasts design updates and a smaller motor, targeting Europe as a primary market, with US sales starting in the fall.
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BYD India plans to retain the top brand tag in the luxury electric car market
Thehindubusinessline
·
1y ago
Medial
BYD India, a subsidiary of global electric vehicle manufacturer BYD, aims to dominate the luxury electric car segment in India above the ₹30-lakh category. As part of its strategy, the company will introduce the luxury electric sedan, Seal, in India. BYD aims to compete with established German automakers like Mercedes-Benz and BMW in the premium electric car market. The company already sells two electric models in India and plans to expand its product portfolio and dealership network. Despite being a major global player in the electric car market, BYD also sees potential in the mass market segment in India in the coming years.
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Former Tesla CEO says it is a 'shame' company is cancelling low-cost car plans
Economic Times
·
1y ago
Medial
Former Tesla CEO, Martin Eberhard, expressed disappointment at Tesla's decision to scrap its plans for a low-cost car amid stiff competition in China. The company had previously aimed to manufacture affordable electric vehicles for the mass market. While Tesla's cheapest car currently retails for around $39,000, the now-cancelled entry-level vehicle was expected to start at $25,000. Although the low-cost car has been abandoned, Tesla is reportedly still focusing on developing self-driving robotaxis using the same small-vehicle platform.
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Skoda Auto plans entry into affordable electric vehicles segment in India
Thehindubusinessline
·
1y ago
Medial
Skoda Auto is planning to enter the mass-market segment in India by introducing electric vehicles (EVs). The company is considering various options, including partnering with local companies, to tap into the Indian EV market. Skoda currently has 10% of its electric car portfolio in Europe, and aims to increase it to 70% by 2030. The automaker also announced its plan to launch a compact SUV in India in 2025, which will be its third made-for-India brand. Skoda aims to double its sales in India by 2026 and expand into tier-3 cities and beyond.
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How Tata turned TaMo into a global auto powerhouse
Livemint
·
10m ago
Medial
- Ratan Tata transformed Tata Motors from a domestic truckmaker into a global automotive powerhouse. - He spearheaded the creation of the Tata Nano, the world’s cheapest car, which redefined affordable mobility for the Indian consumer. - Under his leadership, Tata Motors launched the Indica, India's first indigenously developed passenger car, showcasing India's emerging capabilities in car manufacturing. - Despite its commercial failures, the Tata Nano exemplified Tata's visionary approach and his desire to solve real-world problems through innovation. - Ratan Tata's most celebrated move was the acquisition of Jaguar and Land Rover (JLR) from Ford, which turned JLR into a significant contributor to Tata Motors' revenue. - He positioned Tata Motors as a leader in the electric vehicle (EV) revolution, making them a frontrunner in India's green mobility movement.
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The Apple Car is dead, and Elon Musk is speaking at its funeral
Business Insider
·
1y ago
Medial
Apple has reportedly decided to abandon its electric car project after a decade of development. This news prompted Elon Musk, CEO of Tesla, to post a tweet with a saluting face and cigarette emoji, apparently bidding farewell to Apple's effort in the electric car market. While Apple employees involved in the project will be moved to the company's AI division, it is also expected that there may be layoffs among engineers and car designers. Apple's electric car project faced numerous challenges, including leadership changes and launch delays. Musk has previously expressed skepticism about Apple's ability to successfully enter the complex and competitive electric car market.
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China's Xpeng to acquire Didi's smart EV unit in deal worth up to $744 million
Economic Times
·
1y ago
Medial
Chinese electric car company Xpeng will acquire Didi's smart electric vehicle unit in a deal potentially valued at $744 million. Xpeng's shares rose by around 16% following the announcement. As part of the agreement, Xpeng will launch a new A-class model under a brand called MONA, aiming to expand in the mass-market segment. Didi will support the launch by providing access to its mobility market, and the two companies will explore strategic cooperation in various areas. Didi will also acquire around 3.25% of Xpeng shares, with the deal's value dependent on production and sales targets.
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Tesla plans to build new electric vehicles in mid-2025
Reuters
·
1y ago
Medial
Tesla is reportedly planning to begin production of a new mass-market electric vehicle codenamed "Redwood" in mid-2025. The model is said to be a compact crossover, aimed at competing with cheaper gasoline-powered cars and affordable EVs. Tesla previously promised to build a $25,000 car in 2020 but later shelved the plan. The company sent bids to suppliers and projected a weekly production volume of 10,000 vehicles. The timing of the next-generation compact vehicles is an important topic for Tesla investors. Tesla has a history of missing targets for launches and pricing.
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China's Li Auto pins hopes on first all-electric model
Reuters
·
1y ago
Medial
Chinese electric vehicle (EV) startup Li Auto has launched its first pure electric model, the MEGA multi-purpose vehicle (MPV). The company expects it to become its top seller among cars priced above half a million yuan. Li Auto also unveiled higher-priced versions of its existing L series and announced plans to invest at least 6 billion yuan ($833.6 million) in building charging stations. The MEGA Max, the fastest-charging mass-produced car according to founder Li Xiang, starts deliveries on March 11 and can travel 500km on a 12-minute charge. Li Auto aims to pay factory workers at levels comparable to Japan and Germany within three years.
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Mitsubishi Electric India performs groundbreaking ceremony for manufacturing plant in Chennai
Economic Times
·
1y ago
Medial
Mitsubishi Electric India, a subsidiary of Mitsubishi Electric Corporation, held a Bhumi Pujan ceremony for its first air conditioner and compressor manufacturing unit in Chennai. The company plans to invest Rs 1,891 crore in this 100% foreign direct investment project. The facility, spread across 52 acres, will manufacture room air conditioners and compressors tailored to the Indian market. Mass production is set to begin in October 2025, with an initial annual capacity of 3,00,000 sets of room air conditioners and 6,50,000 compressors.
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Tesla extends lead in Norway as EVs take record 82% market share
Reuters
·
1y ago
Medial
Tesla extended its lead in Norway's car sales for the third consecutive year, capturing a 20% market share in 2023. Nearly 82.4% of new cars sold in Norway were electric, up from 79.3% in 2022. Despite friction with local labor unions, Tesla continues to dominate the electric vehicle market in the Nordic region. Norway aims to become the first country to completely phase out petrol and diesel cars by 2025.
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