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Why are European carmakers struggling in the electric vehicle market?

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BMW overtakes rival Tesla to take the top spot in European EV sales

Sales of fully electric BMWs rose by more than a third in July, although the German carmaker still trails behind Tesla in year-to-date sales.

23/08/2024

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EU cuts tariff on China-made Tesla vehicles: What impact on prices?

The European Commission has significantly reduced the import duty on Tesla vehicles manufactured in China, potentially paving the way for a surge in sales across the region. Chinese EV exports to the EU experienced a sharp decline in response to the proposed tariffs.

21/08/2024

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Tesla recalls more than 1.6 million cars for remote software fix

Tesla is recalling 1.68 million cars in China for a remote software upgrade to ensure that they warn the driver when the trunk is not locked shut, China's market regulator said.

07/08/2024

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Tesla in fatal US car crash used self-driving system, authorities say

A car crash in the US state of Washington involved Tesla's "Full Self-Driving" system.

31/07/2024

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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.

24/07/2024

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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.

23/07/2024

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Tesla shares rocket as Q2 electric vehicle deliveries exceed estimates

Tesla reported second-quarter electric vehicle (EV) delivery numbers that were better than analysts' estimates but the company saw the second consecutive yearly decline, partly blamed on the closure of a German plant.

03/07/2024

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BYD may overtake Tesla to become the biggest EV seller in Europe

The Chinese carmaker BYD reported record sales in the second quarter, likely overtaking Tesla to become the biggest electric car seller globally, particularly in Europe and China.

02/07/2024

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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.

26/06/2024

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Goldman Sachs lifts target predictions for S&P 500 in 2024

Most of the Magnificent Seven tech stocks are contributing strongly to the S&P 500’s advancements at the moment, with other sectors such as healthcare and materials also seeing promising growth.

17/06/2024

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Tesla shareholders sue Musk for diverting resources to xAI

It comes just after the billionaire dropped his own lawsuit against ChatGPT maker OpenAI of which he was an original investor.

14/06/2024

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Elon Musk wins backing of shareholders on Є52 billion pay package

Tesla’s shareholders voted to reinstate CEO Elon Musk’s $55.8 billion (€52 billion) pay package, which was rejected by a judge in Delaware earlier this year. Investors also approved the relocation of the company’s incorporation to Texas.

14/06/2024

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Manganese batteries: Could they be the main driver for EVs?

Lithium batteries are expensive to produce, and can be hard to recycle. There are also claims that mining for lithium is dangerous. Manufacturers are looking at other metals to see what they can offer.

08/06/2024

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Tesla gets green light to expand German plant after revision to plans

Approval to expand its first European plant was given after Tesla revised its original proposals following anger at the proposed felling of more than 100 hectares of trees.

17/05/2024

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Tesla's stock surges on optimism for Musk's affordable car line-up

Tesla's shares surged by more than 10% despite a miss on the first-quarter earnings estimates as CEO Elon Musk signalled that the cheaper version of electric vehicles (EV) would arrive earlier than expected.

24/04/2024

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Tesla: What opportunities will Q1 earnings provide for its shares?

Tesla's shares have seen a fall of nearly 30% in the first quarter because of growth bottlenecks. As analysts revise down estimates of Q1 earnings, an upside surprise may present a chance to rebound. Conversely, a miss on the expectation may exacerbate the downward pressure.

23/04/2024

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Tesla cuts cost of electric vehicles globally, including in Europe

Shortly after announcing thousands of jobs are to go, Tesla reveals it is cutting the price of its electric vehicles around the world, including in Europe.

22/04/2024

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Tesla recalls nearly 4,000 Cybertrucks due to accelerator pedal fault

Tesla has recalled nearly 4,000 of its 2024 Cybertrucks after a fault was discovered with the accelerator pedal.

20/04/2024

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Tesla cuts 10% of its workforce in global efficiency drive

Tesla's drastic layoffs may be a response to changes needed in the wake of the disappointing last quarterly delivery report.

15/04/2024

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Europe's Tesla fans fear brakes put on plans for cheaper electric car

European Tesla enthusiasts may have to resign themselves to paying for the company's existing models, as more rumours emerge of the company abandoning its plans for a cheaper electric vehicle.

09/04/2024