Automundo China

By Hyunjoo Jin, Norihiko Shirouzu, Ben Klayman (Reuters) -Tesla has canceled the long-promised inexpensive car that investors have been counting on to drive its growth into a mass-market automaker,

(Reuters) -Tesla has canceled the long-promised inexpensive car that investors have been counting on to drive its growth into a mass-market automaker, according to three sources familiar with the matter and company messages seen by Reuters. The decision represents an abandonment of a longstanding goal that Tesla chief Elon Musk has often characterized as its primary mission: affordable electric cars for the masses. Tesla shares fell nearly 5% after the Reuters report.

The company is trying to boost sales in China with a new 0% interest loan offer.

A flood of electric vehicles from China boosted Brazilian car imports in the first quarter of 2024, ahead of rising import tariffs aimed at protecting local production. Between January and March, passenger car imports rose 46.4% from the same period last year to $1.5 billion, according to data released on Thursday by the Ministry of Development, Industry, Trade, and Services. "These purchases from China that are driving the increase in vehicle imports are mainly of electric and hybrid engines," said the ministry's statistics coordinator, Saulo Castro.

Chinese carmaker BYD released an image of its new electric pickup truck, which it plans to start selling later this year.

(Bloomberg) -- Tesla Inc. is slashing prices of its best-selling vehicle in a bid to clear its biggest-ever stockpile.Most Read from BloombergTexas Toll Road Takeover to Cost Taxpayers at Least $1.7 BillionSaudi Crown Prince MBS’s $100 Billion Foreign Investment Quest FaltersZimbabwe Replaces Battered Dollar With New Gold-Backed Currency Called ZiGGiving Up China Is Hard, Even for Argentina’s Anarcho-CapitalistS&P 500 Falls 1% as Oil Jump Spurs Flight to Bonds: Markets WrapThe company is marking

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News! Global plugin vehicle registrations were up 3% in February 2024 compared to February 2023. There were 830,000 registrations, making it possibly the last month with fewer than one million sales per month ever for ... [continued]