Automundo China

Every day I try to thank God for the many blessings he’s given me, specifically my wonderful family and friends. Pretty high up there on the list of things I’m grateful for is that I am not the CEO of a car company. It’s a tough job and I probably love cars too much to […]

The Teala Model 2 program, has been cancelled so the company can focus on robotaxis several company insiders told Reuters this week.

Tesla CEO Elon Musk announced the arrival of Tesla’s robotaxi just hours after accusing Reuters of “lying” for reporting Tesla was moving resources from a low-price EV to robotaxis.

Tesla shares slipped on Friday, capping off a challenging week for the stock after a rocky first quarter with deliveries, pricing, and questions about its next models all weighing on the story.

Henry Ford democratized car ownership with his ultra-cheap, mass-produced Model T, and Elon Musk once promised to do the same for electric cars with a Tesla that could sell for $25,000. Now, sources have told Reuters Musk is putting aside the idea of bargain-priced Tesla for the masses in favor of self-driving robo-taxis. Musk replied via a post on his X.com platform that "Reuters is lying (again)."

Tesla (TSLA) has been through a rough patch from recalls to fierce competition in China afflicting the EV maker's first-quarter 2024 performance. Currently, Tesla CEO Elon Musk is disputing a Reuters report citing Tesla's plans to cancel its low-cost EV strategy as it contends with competition in China.  Roth MKM Senior Research Analyst Craig Irwin joins Market Domination to discuss the contested news with Tesla and why he believes, despite the recent slowdown in demand for EVs, he remains bullish long-term on the EV company. Irwin affirms: "People know me as a bear on Tesla. I'm bearish on the valuation... but I'm a bull on EVs for the long term. Why? Because EVs are so compelling. 65% fewer components. They should be cheaper than ICE [internal combustion engine] vehicles... If price comes down dramatically on these — maybe shorter range, smaller vehicles something comparable to like a Mini Cooper or something like that — you could have a compelling inexpensive vehicle that would be a massive seller in Europe and a great second car here in the US. Yes, price matters." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. Editor's note: This article was written by Nicholas Jacobino

Xiaomi's SU7 smart electric car has garnered significant attention from consumers, with a strong initial week of orders. However, challenges have emerged, ... automotive, bank, battery, Beijing, BYD, car, CATL, currency, Economy, electric vehicle, Expansion, Factory, Goldman Sachs, Huawei, manufacturing, NIO, procurement, Renminbi, Supplier, tesla, Xiaomi, Xpeng, Yuan

China’s leading automaker, BYD, is aggressively expanding overseas. After launching its low-cost Seagull EV (Dolphin Mini) in Brazil, starting at...