Tesla in San Francisco, led by CEO Elon Musk, is planning to lay off 601 more employees in California at its facilities in Palo Alto and Fremont. This decision comes as the company implements job cuts and faces increasing price competition. Musk announced a global workforce reduction of over 10% by late 2023.
To price itself close to INR .10.00 lakhs is simply preposterous. This is a vehicle supposed to cater to the younger Indian, not necessarily the rich one. This is not the Baleno or the Fronx. This is the rebellious, opinionated, confident young Indian into his / her first job, cocking a snook at those who take safer decisions in life. Pricey? Profiteering? Again something the gen-Z does not take too kindly.
With the US increasing import tariffs on Chinese electric vehicles four-fold to 100%, the market is pretty much out of bounds for them. Meanwhile, Leapmotor of China has announced its India plans, though concrete details still have not emerged. There is no love lost between the two countries but it does look as if there is some relaxation of controls now. Are India and China going to bury the hatchet sometime in the near future?
Ford Motor Co faces losses from electric vehicles, cutting orders and fast-tracking small EVs to compete with Tesla. CEO Jim Farley acknowledges challenges. Tesla, Elon Musk, and CFO John Lawler's comments on pricing pressure and EV costs are key. Ford focuses on hybrids, delays launches, and addresses quality issues.
Over 10,000 vehicles have been produced and a manufacturing capacity of 9000 per month has been set up. Deliveries are scheduled to start on May 26, 2024, the company said.
The Finance Ministry, chaired by Nirmala Sitharaman, is not expected to discuss granting tax concessions to hybrid cars in the upcoming GST council meeting. Nitin Gadkari had requested a reduction in GST on hybrid vehicles, benefiting Indian automobile giants like Mahindra and Mahindra and Tata Motors.
The deal is a lifeline for Aiways, which halted production at its Shangrao plant last summer as a fierce EV price war in China squeezed automakers' margins. The company is among a group of struggling Chinese EV startups including WM Motors and Human Horizons that have suspended operations amid sluggish sales.
Its fourth modern generation has now been given a freshened look that includes a revised Skoda grille and new second-generation LED Matrix beam headlights, the company said.
Swedish Prime Minister Ulf Kristersson and German Chancellor Olaf Scholz were asked at a press conference in Stockholm whether they support the EU following the United States in slapping tariffs on Chinese electric cars.
The objective is to foster a community of like-minded individuals that are united by a shared passion for innovation, style, and excellence, the company said.
Top leaders in the United States and Europe have started urging China to reduce its exports to the world and boost its imports.
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