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Business

Canada to impose 100% tariff on Chinese-made electric vehicles

In alignment with the US, Canada announced a 100% tariff on Chinese-made EVs, including those produced by Tesla. Tesla’s shares fell by 3% on Monday in response to the news.

Europe News

Brussels moves closer to slapping definitive tariffs on Chinese EVs

The EU executive says it stands ready to reach an alternative solution, compatible with WTO principles, with the Chinese government.

Business

Porsche moves in with deal to help stalling German battery maker Varta

Porsche's decision to support Varta will allow the luxury car maker to have access to high-performance batteries for its hybrid and electric cars.

Eco-Innovation

Japan unveils plans for a CO2-busting conveyor belt road system

Japan’s 500 km Autoflow-Road could slash emissions, worker shortages and traffic.

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Business

EU member states set to back tariffs on Chinese EVs, says trade chief

Tariffs could come into force in November after a vote in late October.

Mobility

Uber, BYD to introduce 100,000 EVs in Europe and Latin America

The companies said the plan would help accelerate the switch to EVs and that they also plan to collaborate in introducing autonomous-capable EVs on the Uber platform.

Europe News

Italy and China to boost economic ties following Meloni-Xi meeting

Evoking the old Silk Road travelled by Marco Polo, Meloni said her five-day trip to China aims to relaunch bilateral cooperation with Beijing.

Markets

Big tech shares set to waver as Tesla and Alphabet disappoint markets

The two major tech earnings are pressuring Wall Street, with futures pointing to a lower opening on Wednesday. The souring sentiment may ripple through the European markets as LVMH also failed to cheer investors.

Markets

What to expect from Tesla results? Energy storage and AI in focus

Tesla’s revenue for the second quarter may continue declining amid a slowdown in sales. However, the development of robotaxis and energy storage may become the focal point for its market valuation.

Business

French car maker Renault posts 1.9% rise in first-half sales volume

The surge in sales was largely due to the strong performance of the company's hybrid models in Europe.

Business

Volvo exceeds revenue expectations for Q2, but lowers sales forecast

The company is also continuing to invest heavily in the green transition and electric vehicles (EVs), despite concerns that EV demand in Europe may be tapering off now.

Business

TotalEnergies to partner with SSE on new British EV charging company

French oil giant TotalEnergies has announced that it is partnering with SSE, a UK-based power company in order to launch an electric vehicle (EV) charging company called Source, which will operate in Britain and Ireland.

Business

VW mulls closure of Brussels Audi plant due to low demand for EVs

The Audi plant has seen a drop in demand for luxury EVs. Owner VW is currently trying to find an alternative solution for the Brussels site.

Europe News

EU confirms steep tariffs on Chinese electric vehicles

Brussels accuses Beijing of lavishing its car-makers with enormous amounts of subsidies that lead to artificially low prices and unfair competition.

Business

German car giant VW to invest billions in Tesla rival Rivian

The deal of up to €4.68bn creates a joint venture that will allow VW and the US-based electric vehicle (EV) maker to share technology.

Mobility

Euroviews. Hybrid vehicles have proven to be the right choice for decarbonisation

Instead of considering EVs and hybrids as competing solutions, we should recognise that they are complementary solutions for different problems, Patrice Haettel writes.

Business

Beijing protests EU tariff increase on Chinese electric vehicles

Beijing strongly opposes the EU's decision to increase tariffs on their electric vehicles amid efforts by European automakers to forge joint ventures with Chinese counterparts to mitigate the tariff impact.

Business

Ferrari's first electric car to cost at least half a million euros

Ferrari's first electric car will cost at least €500,000, a source familiar with the matter told Reuters.

Europe News

China probes EU pork products in prelude to retaliation for EV tariffs

The European Commission is expected to increase tariffs on China-made electric vehicles as soon as 5 July.

Economy

Why is Germany opposed to EU tariffs on Chinese electric vehicles?

German automobile manufacturers such as BMW, Mercedes-Benz and Volkswagen could be badly hit by retaliatory tariffs because they all have massive production plants in China.