Electric Vehicle Maker Lion Electric Cutting 150 Jobs to Reduce Costs
The Lion Electric Co. says it is cutting 150 jobs or about 10 per cent of its total workforce in a move to reduce costs and improve its ability to reach its profitability objectives. Lion Electric chief executive and founder…
Tata Motors Sells 37,961 EVs In H1 FY2024, EV Share Of PVs Rises To 13.5 Percent
Tata Motors’ passenger vehicle (PV) sales may have seen a decline for two straight months in August (-3%) and September (-5%) but its electric vehicle (EV) sales are on a roll. In the first six months of FY2024, the company…
Tesla Almost Doubles Ev Share In China As Sales Rebound
After passenger vehicle sales dropped in June and July, the Chinese auto market recovered in August with a return to growth. In the same month, Tesla almost doubled its market share in the country, amidst increased discounts and tax exemptions…
EV Maker XPeng Announces Strategic Partnership With Didi, Shares Rise In Hong Kong
XPeng’s shares rose sharply in Hong Kong after the electric-vehicle maker announced a strategic partnership with ride-hailing giant DiDi Global. XPeng’s Hong Kong-listed shares rose 14% to 74.45 Hong Kong dollars (US$9.49), taking its year-to-date gains to 94%. XPeng will…
China Evergrande EV Unit To Issue Fresh Shares In Restructuring Plan
Embattled property developer China Evergrande Group said on Monday (Aug 14) its listed electric-vehicle arm has agreed to issue new shares to certain subscribers to ease loan burden and improve liquidity as part of its restructuring proposal. Under the terms,…
Tata Motors Leads Indian EV Market With A Market Share Of 72%
By selling 34,000 electric vehicles during the first half of 2023, Tata Motors captured a 72 per cent share in India’s electric vehicle (EV) market, data released by Canalys showed. The contributors to this included high sales numbers of Tiago,…
Volkswagen Shares Recover After EV Production Cut Reports
Shares in Volkswagen inched higher on Wednesday, recovering slightly from a selloff the day before when the automaker played down reports it will cut EV output in Germany over the next two weeks because of lower than expected demand. Volkswagen “expects the…
