Automobile industry
Tesla's board proposed paying Elon Musk nearly $1 trillion if he achieves certain performance goals, prompting the CEO to buy $1 billion worth of stock, his first purchase in over five years. The transaction, made through a revocable trust on September 12, saw Mr. Musk acquire 2.57
Exports
South Korea's automotive export experienced growth for the third straight month in August, driven by increased demand for eco-friendly vehicles and robust sales in the European market. The country's car shipment expanded by 8.6 percent year-over-year to 5.50 billion U.S. dollars in August,
Exports
The People's Republic of China has inaugurated a new sea route for exporting Chinese brand new energy vehicles (NEVs) to the Middle East. The Panama-flagged cargo ship "Forest Glory" left Wenzhou Port in east China's Zhejiang Province for Dubai on Monday, carrying 400 Chinese-brand
Electric vehicles
A letter signed by over 150 bosses from Europe's electric car industry, including Volvo Cars and Polestar, has urged the European Union to maintain its 2035 zero emission target for cars and vans. The industry leaders warned that delaying the target would stall Europe's electric vehicle
Electric vehicles
German carmakers, long overshadowed by their Chinese competitors in the electric vehicle market, are now ready to take on the challenge head-on. BMW, Mercedes-Benz, and Volkswagen unveiled their new electric models at the IAA Mobility show in Munich, highlighting advancements in technology, design, and features. Despite the costs imposed by
Electric vehicles
General Motors is making strategic production adjustments in anticipation of expected slower EV industry growth and customer demand. The automaker will be closing its Spring Hill Assembly plant in Tennessee for several weeks in the coming months, including the week of October 6, the week of Thanksgiving, and the full
Electric vehicles
Colombia's electric and hybrid vehicle market continued to grow in August 2025, with significant increases in sales and registrations. The National Association of Entrepreneurs of Colombia (ANDI) and the automotive industry associations issued a report highlighting the trends in the market. The report showed that electric vehicles saw
Electric vehicles
European carmakers, with the exception of Mercedes-Benz Group AG, are on track to meet EU emission targets after winning a reprieve this year. The EU's emission targets for 2025-27 are based on the average emissions of new vehicles sold in the 27-country bloc, under the threat of steep
Electric vehicles
The UK electric vehicle market enjoyed a surge in sales last month, capturing a record 26.5% share of the new car market, as the overall new car sales dipped 2% year-on-year to 82,908 units. According to the Society of Motor Manufacturers and Traders (SMMT), the rise in electric
Electric vehicles
BMW is revolutionizing its approach to carmaking with the launch of its iX3 sport utility vehicle, the first to be developed on its Neue Klasse platform. The German carmaker is betting on software-defined vehicles to take on Chinese rivals and Tesla, with a centralized computer system replacing hardware as the
Electric vehicles
Canada's imposition of a 100 per cent tariff on all EV imports from China has resulted in BYD, a Chinese automaker, trebling its sales and surpassing Tesla in market share in the European Union. Contrary to this trend, Canadian consumers continue to purchase thousands of Teslas annually, while
Electric vehicles
Toyota Motor Europe plans to start producing a new all-electric vehicle (BEV) at its plant in Kolín, Czech Republic, marking a significant milestone for both the company and the Czech Republic. This investment is part of Toyota's multi-pronged strategy to achieve carbon neutrality in Europe by 2040. The
