HOP Electric Targets Tripling Sales in 2024, Unveils Nimble ‘Nimbus’ Platform for Electric Motorcycles
HOP Electric is targeting up to three-fold rise in its annual sales in 2024 and is preparing to launch an electric motorcycle equivalent to the mass market entry level bikes of conventional engines to shore up volumes, according to company…
E-bus Sales in India will go up to 11-13% by FY25
ICRA points out that the government has sought to boost e-bus adoption through bid aggregation under tenders floated by Convergence Energy Services Limited (CESL). Despite successful OEM participation in the initial tenders, CESL’s third tender faced limited participation due to…
Festive October Powers Strong Double-digit Growth for PV, Two- and Three-wheeler Wholesales
As per the monthly numbers released by apex industry body SIAM, for three vehicle categories (passenger vehicles, two- and three-wheelers), cumulative sales at 2.36 million units are a strong 20% year-on-year growth (October 2022: 19,68,938 units). Importantly, all three segments…
Startup Li Auto is beating Tesla China’s EV sales
Chinese startup Li Auto sold more cars than Tesla’s China business did in October, according to the China Passenger Car Association. The startup sold a record 40,422 cars in October, far more than Tesla did at 28,626, association data showed…
Tesla (TSLA) to build $25k EV at Giga Berlin
Tesla (NASDAQ: TSLA) CEO, Elon Musk visited the company’s gigafactory in Berlin Friday where the multi-billionaire gave an update on the plant’s aesthetic design and outlined the manufacturing strategy for a forthcoming affordable $25,000 electric vehicle aimed at the mass…
China EV Maker BYD Reports Record Quarterly Profit of $1.42 bln in Q3
China EV maker BYD reports record quarterly profit of $1.42 bln in Q3 Reuters / UPDATED: OCT 30, 2023, 19:12 ISTB YD logged 22.12% in third-quarter gross profit margin, compared with 18.73% in the second quarter, according to Reuters’ analysis…
China’s BYD Forecasts Higher Third-Quarter Profit on Record EV Sales
Chinese automaker BYD Co. expects third-quarter profit to rise at least 67% on the back of record electric-vehicle sales. The Warren Buffett-backed maker of electric vehicles and batteries estimated net profit for the quarter at between 9.55 billion yuan ($1.31…
Tesla’s Sales Of China-Made EVs Slumped In September
Tesla (TSLA) shares lost ground on Monday after the China Passenger Car Association (CPCA) reported the EV maker sold 74,073 China-made EVs in September, down 10.9% from a year ago. The drop from August was 12%.That followed record-setting deliveries of…
Nissan’s Sales Woes In China Worsen As Slow EV Shift Proves Costly
Japan’s hesitancy toward EVs is taking its toll on automakers in China. Nissan’s sales are plummeting after failing to keep up with EV leaders like Tesla and BYD. Slow EV transition is costing Nissan in China Nissan is struggling to…
BYD Inches Closer to Global EV Dominance As Tesla Sales Dip
Tesla is not done cutting prices in order to remain competitive in the cutthroat Chinese EV market as it just lowered the Model Y tag by the equivalent of US$1,900 there, and continued a Model 3 insurance incentive for next…
