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Tesla Collaborates with Tata Electronics for Semiconductor Chip Sourcing

15Apr By AdityaNo Comments

Automobile

Tesla Collaborates with Tata Electronics for Semiconductor Chip Sourcing

New Delhi, 15th April 2024: In a recent report by The Economic Times, it has been disclosed that Tesla has entered into a strategic partnership with Tata Electronics to secure semiconductor chips for its global operations. This deal, which was finalized a few months ago, highlights Tata Electronics as a reliable supplier for leading global clients looking to strengthen their semiconductor value chain in India. Although specific details regarding the agreement's value and other terms remain confidential, this collaboration underscores Tesla's ambitions to expand its presence in India, which is currently the world's fastest-growing major automotive market. Elon Musk, the visionary entrepreneur behind Tesla, is set to visit India soon for discussions with Prime Minister Narendra Modi. Duri...

23Mar By AdityaNo Comments

Automobile

BYD beating Tesla in EV Game

New York, 23rd March 2024: BYD is making significant strides in overtaking Tesla as the leading battery-electric vehicle producer globally. Following another upgrade, Wall Street is showing interest as the stock price of BYD saw an increase on Monday. In November, the Chinese EV manufacturer reported delivering over 301,000 passenger vehicles, marking a 31% year-over-year growth. Of these, over 170,000 were all-battery electric vehicles (BEVs), showing an almost 50% increase from the previous year. Additionally, BYD also delivered approximately 131,000 plug-in hybrid vehicles. During the first two months of the fourth quarter, BYD recorded almost 336,000 BEV deliveries, marking a 55% increase compared to the previous year. With this growth trajectory, BYD is on track to deliver...

5Jan By PriyankaNo Comments

CHINA

Tesla Recalls 1,617,643 Vehicles in China Over Safety Concerns

Beijing, 5th Jan 2024: In a recent announcement, the government regulator has mandated a recall of 1,617,643 Tesla vehicles, comprising both imported and domestically produced models. This recall affects various popular Tesla models, including the Model S, Model X, Model 3, and Model Y, manufactured between August 26, 2014, and December 20, 2023. Notably, this recall covers a significant portion of the vehicles Tesla has sold in China. The recall has been initiated due to two critical safety concerns identified by China's State Administration for Market Regulation. The first issue affects 7,538 vehicles and involves a problem with the door unlock logic control. Specifically, in the event of a collision, the non-collision side door latch may detach from the latch mechanism, leaving the d...

28Jun By NitishNo Comments

CHINA

Tesla to recall Made in China Cars over Safety Issues

Beijing, 28th June 2021: Tesla is recalling about 285,000 electric vehicles in China because the cruise-control function can be activated accidentally and cause cars to accelerate suddenly, creating a safety hazard, Chinese authorities have said. In a message to customers on the Chinese social media platform Weibo on Saturday, Tesla said, There are potential safety hazards in extreme cases. China’s market regulator said the recall covers 211,256 Model 3 sedans and 38,599 Model Y compact crossover utility vehicles that were built in China and 35,665 Model 3s that were imported. The cars were produced between December 2019 and this month. The regulator said Tesla plans to upgrade cruise-control software on the vehicles remotely, which would save owners the chore of taking their car ...

5Mar By reutersNo Comments

INDIA

India woos Tesla with offer of cheaper production costs than China

India is ready to offer incentives to ensure Tesla Inc's cost of production would be less than in China if the carmaker commits to making its electric vehicles in the south Asian country, transport minister Nitin Gadkari told Reuters. Nitin Gadkari's pitch comes weeks after billionaire Elon Musk's Tesla registered a company in India in a step towards entering the country, possibly as soon as mid-2021. Sources familiar with the matter have said Tesla plans to start by importing and selling its Model 3 electric sedan in India. "Rather than assembling (the cars) in India they should make the entire product in the country by hiring local vendors. Then we can give higher concessions," Gadkari said in an interview, without giving details of what incentives would be on offer. "The govern...

Volvo will make only EVs by 2030; will be sold exclusively online

2Mar By AnkitaNo Comments

Automobile

Volvo will make only EVs by 2030; will be sold exclusively online

Swedish automaker Volvo says it is phasing out the production of all cars with internal combustion engines including hybrids and will make only electric vehicles by 2030. But if you want one, you'll have to buy it online. There is no long-term future for cars with an internal combustion engine, said Henrik Green, Volvo's chief technology officer. Volvo's announcement follows General Motors' pledge earlier this year to make only battery-powered vehicles by 2035. While its all-electric vehicles will be sold exclusively online, dealerships will remain a crucial part of the customer experience and will continue to be responsible for a variety of important services such as selling, preparing, delivering, and servicing cars. As part of the announcement, the Swedish automaker will unv...

Elon Musk Foundation donates $5 million to Khan Academy

14Jan By AnkitaNo Comments

News

Elon Musk Foundation donates $5 million to Khan Academy

World's richest person and Tesla's co-founder Elon Musk donated $5 million to the American non-profit educational organisation Khan Academy through his Musk Foundation. Khan Academy founder Sal Khan announced this news in a video posted on Twitter. Sal khan said he wants to give a huge shout and thank you to Elon Musk and everyone at the Musk foundation. "Thank you @elonmusk and @MuskFoundation for an incredible $5m donation to @khanacademy," he said. Elon Musk, along with his brother Kimbal, founded this NGO in 2002 which donates and support in several areas, including education, renewable energy research, human space exploration research, pediatric research etc. Founded in 2008, Khan Academy has 120 million registered users and 20 to 30 million students are using the platform...

Nissan Launched its First Electric SUV “The Ariya”

15Jul By AdityaNo Comments

Automobile

Nissan Launched its First Electric SUV “The Ariya”

TOKYO, 15th July 2020 – Nissan unveiled its First electric SUV the Ariya, coming with twin electric motors, an estimated 300 miles of range. The starting price of the SUV is $40,000 and it will be sold in Japan in mid-2021. Representing the pinnacle of Nissan’s technologies and design, the 100% electric Nissan Ariya debuted during a digital event in Yokohama. The model is a major step in Nissan’s transformation as the company refocuses on key strengths, including electrified vehicles and SUVs. “We created the Nissan Ariya as an answer to the aspirations and practical needs of today’s customers,” said Nissan CEO Makoto Uchida. “Combining our strengths in EVs and crossovers, it’s a showcase for Nissan’s new era of excitement and design.” The Ariya sets the pace for Nissan’s plan...

11Jul By AnkitaNo Comments

FUNDING

EV Automobile Company Rivian raises $2.5B in funding

Detroit, 11th July 2020: Tesla rival electric vehicle startup Rivian raises another USD 2.5 billion in funding led by funds and accounts advised by investment firm T Rowe Price. The company has a contract with Amazon to build 100,000 electric delivery vans starting next year at its factory, a former Mitsubishi plant in Normal, Illinois. Rivian also is rolling out a pickup truck and an SUV for sale to consumers next year. The company said Friday that investors in this round include Soros Fund Management, Coatue, Fidelity Management, and Research, and Baron Capital Group. Amazon and hedge fund BlackRock have invested previously and also are part of this round, Rivian said. The new investment won't bring any more seats to the Rivian board, the company said. In April of 2019, Ford in...

Echo3: An EV Company that Brings Electric Vehicles Within Reach of the Masses

30Jun By AdityaNo Comments

Automobile

Echo3: An EV Company that Brings Electric Vehicles Within Reach of the Masses

DENVER, June 29, 2020 -- Echo3, the electric automobile company, is bringing electric vehicles to the masses much in the way Henry Ford's Model T did from 1908 to 1927. The First Model T became available in October 1908. The Model T is the 3rd most selling automobile of all time selling 16.5 million automobiles primarily for two reasons, affordability, and new technology. The Model T touring sedan cost $825 in 1908 or about $22,991.85. The $825 price tag made the Model T within reach of middle class Americans. The turn of the century saw the country fascinated with new technology and the Model T brought the technology coast to coast. Fast forward to 2020 and Denver-based Echo3 Energy is responding to the need for ...

France Injects USD 8.8 billion in Electric Car Industry

27May By PriyankaNo Comments

Automobile

France Injects USD 8.8 billion in Electric Car Industry

Paris, May 27 (AP): France is injecting more than USD 8.8 billion to save the country's car industry from huge losses wrought by virus lockdowns, and wants to use the crisis to make France the No. 1 producer of electric vehicles in Europe. Starting next week, consumers can get up to 12,000 euros from the government for buying an electric car under the “historic” plan unveiled Tuesday by French President Emmanuel Macron. “Our country wouldn't be the same without its great brands Renault, Peugeot, Citroen,” Macron said, decrying an “unprecedented crisis” for the industry that has seen production plunge more than 90 percent in France alone. Carmakers and governments around the world are grappling with similar losses. Politicians are divided over whether and how to bail out an industr...

Tesla Crosses $100 billion Market Valuation Mark

23Jan By PriyankaNo Comments

News

Tesla Crosses $100 billion Market Valuation Mark

NEW YORK, 22ND Jan 2020: Tesla's market value hit $100 billion for the first time, triggering a payout plan that could be worth billions for Elon Musk, founder and chief of the electric carmaker. Shares in Tesla rose some 4.8 percent in opening trade to extend the gains in the value of the fast-growing maker of electric vehicles. Under a compensation plan approved by Telsa's board in 2018, Musk is to be paid in stock awards based on the value of the company, which could be worth as much as $50 billion if Tesla reaches $650 billion. Musk agreed to the plan, which would pay him nothing until Tesla's value reached $100 billion. The package, using shares which "vest" based on certain criteria, gives Musk stock worth around one percent of the company for each of 12 milestones over a...