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Norway has had massive success with EV adoption — 82% of new cars sold in the country in 2023 were electric, according to the Norwegian Road Federation. This high adoption rate can be attributed to the generous subsidies the Scandinavian country has offered to electric vehicle owners as well as its investment in charging infrastructure. Tesla's early foothold there has made Norway a pivotal proving ground for the company and a national model for electric vehicle transition. Norwegians were the first European customers to receive deliveries of the Tesla Model S in 2013. CNBC traveled to Norway to meet with local people, government officials and experts to find out how Tesla has become so successful in the Scandinavian country.

Persons: Elon Musk, Tesla Organizations: Norwegian Road Federation, Nordic, Tesla, Toyota, Skoda, Volkswagen, CNBC Locations: Norway

☆ Former Ford CEO: Mainstream consumers will adopt electric vehicles when they're more convenient
▼ + stars: | 2024-03-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Ford CEO: Mainstream consumers will adopt electric vehicles when they're more convenientMark Fields, former Ford CEO and CNBC contributor, joins 'Squawk on the Street' to discuss how automakers will convince non-adopters to buy electric vehicles, concerns the mainstream consumer has, and more.

Persons: Fields Organizations: Former Ford, Ford, CNBC

☆ Energy Department Offers $2.3 Billion Loan to Boost Lithium Production
▼ + stars: | 2024-03-14 | by ( Madeleine Ngo | ) www.nytimes.com time to read: +1 min

The Energy Department is moving forward on a deal to provide a $2.3 billion loan to Lithium Americas Corp. in an effort to shore up domestic supplies of a mineral vital for the production of electric vehicles. If finalized, the loan would help finance the construction of a lithium carbonate processing plant at Thacker Pass in Nevada. The United States, however, has lagged behind other countries in producing the metal. Only 1 percent of the lithium used in the United States is harvested domestically, according to the Energy Department. Lithium carbonate from Thacker Pass could support the production of batteries for up to 800,000 electric vehicles a year, according to the Energy Department.

Organizations: Energy Department, Lithium Americas Corp, Administration Locations: Thacker, Nevada, North America, United States, Australia, Chile, China, Argentina

☆ Chinese stocks are 'a risk worth taking,' asset manager says — naming 2 he likes
▼ + stars: | 2024-03-14 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

There may be a lot of caution with investing in Chinese stocks — but asset manager Jason Hsu sees opportunities to play the market. "Chinese stocks are trading at the cheapest they've ever been. The Chinese economy and stock market have been dogged by declining foreign investments and a prolonged property market slump. Hsu suggests that investors allocate around 7% to 8% of their portfolio to Chinese stocks. 'A great growth story' When it comes to the Chinese market, Hsu views state-owned food and beverage company Kweichow Moutai as good short-term play.

Persons: Jason Hsu, Hsu, Moutai, Warren Buffett, Tesla, BYD Organizations: Rayliant Global Advisors, CNBC Pro, Shanghai, Shanghai Stock Exchange, FTSE, China Consumer, Toyota, U.S, Ferrari, Hong Kong Locations: China, Japan, FTSE China, U.S, Europe, Hong Kong and New York

☆ Read the Class Action Complaint Against G.M. and LexisNexis Risk Solutions
▼ + stars: | 2024-03-14 | by ( ) www.nytimes.com time to read: +2 min

On March 11, 2024, the New York Times reported an investigative piece about this exact issue.² The article highlights individuals who have had their insurance rates increase due to Lexis publishing, among others, General Motors car drivers' data. For one consumer "[i]t felt like a betrayal" because GM took "information that [he] didn't realize was going to be shared[.]" In recent years, automakers, including G.M., Honda, Kia and Hyundaí, have started offering optional features in their connected-car apps that rate people's driving. Some drivers may not realize that, if they turn on these features, the car companies then give information about how they drive to data brokers like LexisNexis... Especially troubling is that some drivers with vehicles made by G.M.

Persons: G.M, Last Organizations: New York Times, Lexis, General Motors, Honda, Kia, LexisNexis, Chevrolet, Smart

☆ CNBC Daily Open: U.S. consumer spending data looms
▼ + stars: | 2024-03-14 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Asia stocks mixedAsia markets were mixed Thursday as investors assessed Japan's spring wage negotiations. "If you have a position that does not cost you ever to lose an employee, it's not a position," Karp said in an interview on CNBC. [PRO] China stocks worth the riskChinese stocks are a "risk worth taking," said Jason Hsu, chairman and chief investment officer of Rayliant Global Advisors.

Persons: Topix, Israel, Alex Karp, it's, Karp, Jason Hsu Organizations: CNBC, Nikkei, Bank of Japan, Nasdaq, Dow, Ford Motor, General Motors, Mercedes, Benz, House, U.S . House, Rayliant Global Advisors Locations: Asia, Israel, China

☆ CNBC Daily Open: U.S. retail sales in sharp focus
▼ + stars: | 2024-03-14 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Stocks end mixedWall Street ended mixed Wednesday, dragged down by tech stocks as investors await key updates on retail sales and producer prices. "If you have a position that does not cost you ever to lose an employee, it's not a position," Karp said in an interview on CNBC. [PRO] China stocks worth the riskChinese stocks are a "risk worth taking," said Jason Hsu, chairman and chief investment officer of Rayliant Global Advisors.

Persons: Israel, Alex Karp, it's, Karp, Jason Hsu Organizations: CNBC, Nasdaq, Dow, House, U.S . House, Ford Motor, General Motors, Mercedes, Benz, Rayliant Global Advisors Locations: Israel, China

☆ Florida Man Sues G.M. and LexisNexis Over Sale of His Cadillac Data
▼ + stars: | 2024-03-14 | by ( Kashmir Hill | ) www.nytimes.com time to read: +1 min

According to a federal complaint filed this week seeking class-action status, it was because his 2021 Cadillac XT6 had been spying on him. When Mr. Chicco requested his LexisNexis file, it contained details about 258 trips he had taken in his Cadillac over the past six months. The data had been provided by General Motors — the manufacturer of his Cadillac. In a complaint against General Motors and LexisNexis Risk Solutions filed in the U.S. District Court for the Southern District of Florida, Mr. Chicco accused the companies of violation of privacy and consumer protection laws. LexisNexis Risk Solutions, and another data broker called Verisk, claim to have real-world driving behavior from millions of cars.

Persons: Romeo Chicco, XT6, Chicco, General Motors Organizations: Liberty Mutual, LexisNexis, General, General Motors, Southern, Southern District of, The New York Times, Solutions Locations: U.S, Southern District, Southern District of Florida

☆ EV euphoria is dead. Automakers trumpet consumer choice for U.S. car shoppers
▼ + stars: | 2024-03-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

Andrew Merry | Moment | Getty ImagesDETROIT — The buzz around electric vehicles is wearing off. U.S. EV sales were a record 1.2 million units last year, representing 7.6% of the overall national market, Cox Automotive estimates. "Moving on to less tech-savvy buyers will slow the EV market share growth over the next few years." Automakers wanted to emulate Tesla's success, with some promising to exclusively offer EVs in the not-too-distant future. "Toyota is almost completely absent from the [battery electric vehicle] market yet will gain more U.S. market share than any other car company this year.

Persons: hasn't, Andrew Merry, Aston Martin, Tesla, Elon Musk, Marin Gjaja, Ford, Pablo Di Si, Sam Fiorani, Romeo, Bentley, Mary Barra, there's, Cadillac, John Roth, We've, Gjaja, Jim Farley, Rebecca Cook, Oliver Blume, Akio Toyoda, Morgan Stanley, Adam Jonas, It's, Biden, Cox, Michelle Krebs, EVs, Trisha Jung Organizations: DETROIT, EV, Ford Motor, General Motors, Mercedes, Benz, Volkswagen, Jaguar, Rover, CNBC, GM, Hyundai Motor, Kia, Toyota Motor, VW, U.S, Cox Automotive, AutoForecast Solutions, Volvo, Buick, Cadillac, Honda, Ford Motor Co, Ford, Amperex Technology, Toyota, Cox, Tesla, Nissan, Nissan U.S, Environmental Protection Agency, Alliance for Automotive Innovation, American Automotive, Detroit automakers Locations: EVs, Europe, U.S, North America, Warren , Michigan, Detroit, Marshall , Michigan, Romulus , Michigan

GRUENHEIDE, Germany (AP) — Tesla CEO Elon Musk visited the electric car maker's first European plant Wednesday as production resumed at the factory just outside Berlin about a week after a suspected arson attack cut its power supply. Musk was expected at a “team huddle” with employees at the plant in the Gruenheide municipality, employee council chief Michaela Schmitz told regional broadcaster RBB's Inforadio channel. Production at Tesla’s plant in Gruenheide came to a standstill on Tuesday last week. The power outage came as environmental activists have been protesting in a forest near the plant against plans to expand the facility. That has drawn opposition from environmentalists and some other local groups, who also worry about possible effects on the area’s water supply.

Persons: — Tesla, Elon Musk, Musk, Michaela Schmitz, Schmitz, Tesla Organizations: RBB's, ” Authorities, Volcano Locations: GRUENHEIDE, Germany, Berlin, Gruenheide, Brandenburg

☆ Yellen touts electric vehicle 'boom' as automakers tone down hype
▼ + stars: | 2024-03-13 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Treasury Secretary Janet Yellen on Wednesday lauded President Joe Biden's investment in electric vehicles for accelerating the sector, even as the industry cools off from its yearslong hot streak. Yellen touted Biden's EV actions in Kentucky at a new $49 million EV battery factory built by Advanced Nano Products, a battery supplier that will receive tax credits from Biden's Inflation Reduction Act for the new clean energy facility. "It's part of a boom in EV-related investments in Kentucky," Yellen said. "The Biden Administration's policies and federal funds are fueling private sector investments." The secretary's EV bullishness comes as the private sector tempers its mood on all-electric vehicles.

Persons: Janet Yellen, Joe Biden's, Yellen, Biden, optimistically Organizations: Treasury, Financial, Washington , D.C, EV, Nano Products, bullishness, CNBC, Ford, General Motors, IRA Locations: Washington ,, Kentucky, EVs, Michigan

☆ How Georgia became America's green-manufacturing capital
▼ + stars: | 2024-03-13 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +14 min

Howey, now 30, grew up in northwestern Georgia near Dalton, a small city known as the "carpet capital of the world." SolarCycle, which reclaims old solar panels to make new ones, in February announced plans for a glass factory. The law authorized big tax credits for companies making renewable-energy technologies, including solar panels, batteries, and electric vehicles, in the US. According to S&P Global, the US imported more than two-thirds of its solar panels from Southeast Asia last year. When he sees solar panels atop the chargers, he feels pride in his job.

Persons: Robert Howey, Howey, he'd, Qcells, Catherine Boudreau, Joe Biden, Biden, Bob Keefe, Keefe, Gedia, Pat Wilson, Wilson, Brian Kemp, Benz, Dalton, Kemp, Heidi Popham, Popham, Donald Trump, Scott Moskowitz, Sen, Jon Ossoff of, Moskowitz, it's, Carl Campbell, Campbell, —, Whitfield, Jevin Jensen, Jensen, He's Organizations: US Navy, Business, Qcells, South, Hanwha, SK, Hyundai, Georgia Department of Economic, Gov, Porsche, Mercedes, SK On's, Financial Times, Georgia Northwestern Technical College, Treasury Department, P Global, Microsoft, Development Authority, Shaw Industries, Mohawk Industries, EV Locations: Georgia, Dalton, Japan, Cartersville, South Korea, Malaysia, North Carolina, China, Georgia , North Carolina, South Carolina, Savannah, Atlanta, Cartersville , Georgia, Germany, Commerce , Georgia, Southeast Asia, Korea, Jon Ossoff of Georgia, Washington, BloombergNEF, Vietnam, Whitfield County, ., Whitfield, Calhoun

DETROIT – General Motors' long-time head of manufacturing is retiring, and the company has hired a former Tesla and Google executive to fill his shoes. The Detroit automaker said on Tuesday that Gerald Johnson, executive vice president of Global Manufacturing and Sustainability, will pass the baton to Jens Peter "JP" Clausen, a former executive with Tesla, Lego and, most recently, Google. Johnson's departure isn't unexpected after a 44-year tenure with the automaker, however GM also announced another more surprising departure on Tuesday: that of Mike Abbott, executive vice president of software and services. Baris Cetinok, current vice president of product in software and services, has been named Abbott's interim replacement while a search is conducted. The company's board members include former Tesla President of Global Sales and Service Jon McNeill.

Persons: Gerald Johnson, Jens Peter, JP, Clausen, Johnson, Mike Abbott, Abbott, Baris Cetinok, Elon Musk, JB Straubel, Tesla's, Tesla, Gingko Bioworks, Jon McNeill Organizations: Motors, Global Manufacturing, Labor, DETROIT –, Google, Detroit, Sustainability, GM, Apple, Tesla, Softbank, company's, Technology, Global Sales Locations: Warren , Michigan, DETROIT, Nevada, Reno, Zymergen

☆ How Biden hopes to recapture voters scarred by inflation
▼ + stars: | 2024-03-12 | by ( Ron Brownstein | Analysis Ronald Brownstein | ) edition.cnn.com time to read: +14 min

A majority of Hispanics, and even a plurality of Black voters, said Biden’s policies would cause inflation to rise, the survey found. You can’t not make the contrast and comparison.”These negative retrospective assessments of the Biden and Trump economic records create huge headwinds for the president. “Voters—even past Biden voters who disapprove of his economic record—clearly reject what Trump and Republicans are offering,” Democratic pollster Margie Omero said in an email. After voters were exposed to Biden’s populist arguments, assessments of his economic record improved in the group’s polling, Clark said. But even after hearing that case, most voters in the group’s surveys still gave Biden negative marks for his economic performance, the study found.

Persons: Joe Biden, Donald Trump, Trump, Biden, Biden –, “, ”, Danielle Deiseroth, West Virginia Sen, Joe Manchin, Shawn Fain, Evelyn Hockstein, Adam Green, Michael Tyler, Republican pollster Micah Roberts, It’s, Jim McLaughlin, ” McLaughlin, Roberts, ” Roberts, can’t, ” Tyler, Margie Omero, ’, Bobby Clark, Clark Organizations: CNN, GOP, Trump, Teamsters, Democratic, ACA, West, United Auto Workers, Biden, CNBC, Social Security, Republican, White, NBC News, New York Times, Siena College, CBS, Union, “ Locations: Wisconsin, Michigan, Belleville , Michigan, Scranton , Pennsylvania, Democratic, State, Biden’s

BERLIN (AP) — Power has been restored to electric car manufacturer Tesla's factory near Berlin after a nearly one-week outage believed to have been caused by arson, a network operator said. It previously appeared that the factory, Tesla's first in Europe, might remain without power until the end of the week. Production at Tesla's plant in Gruenheide, just outside the German capital, came to a standstill last Tuesday. Tesla opened the factory in March 2022, launching a challenge to German automakers on their home turf. Photos You Should See View All 60 ImagesThe power outage came as environmental activists have been protesting in a forest near the plant against plans to expand the facility.

Persons: E.DIS, Tesla, Tesla's Organizations: BERLIN, —, Authorities, Volcano Locations: Berlin, Europe, Gruenheide, Brandenburg

☆ A '$28 trillion opportunity': Ark Invest reveals its top AI plays right now
▼ + stars: | 2024-03-11 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Ark Invest — which has a particular focus on innovation — is invested in segments including autonomous vehicles, drones and robotics, energy storage, 3D printing, and space exploration through its Ark Autonomous Tech & Robotics ETF (ticker ARKQ). Autonomous cars: A $28 trillion opportunity Autonomous cars is one area related to AI that Keeney is "particularly excited about." "Autonomous cars are already driving in major cities today across the globe. Autonomous drones: A 'very hot topic' Beyond automakers, Keeney is looking to ride the autonomy wave through opportunities in drones. Keeney emphasized that drone technology can transcend military use cases and be applied across industries.

Persons: Tasha Keeney, CNBC's, Tesla, Keeney, — Organizations: Ark Autonomous Tech, Robotics ETF, Invest, Defense, Security Solutions, Walmart, Google Locations: Mar

☆ Tesla Autopilot and similar automated driving systems get ‘poor’ rating from prominent safety group
▼ + stars: | 2024-03-11 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

CNN —The Insurance Institute for Highway Safety, which rates cars and SUVs for safety, examined so-called advanced driver assistance systems such as Tesla Autopilot and found them wanting. Of the 14 systems tested by the agency, 11 earned a “poor” rating including Tesla’s Autopilot and so-called Full Self Driving systems. Insurance Institute test drivers also looked at what would happen if the driver became incapacitated with the automated driving system in use. Of the systems tested, only GM’s Super Cruise handled that sort of situation the proper way, according to the Institute. The Insurance Institute will continue to monitor software updates and improvements and will periodically retest the systems, Harkey said.

Persons: ’, David Harkey, Harkey, “, ” Harkey, ” Nissan, Ford, BlueCruise, ” Ford Organizations: CNN, The Insurance Institute for Highway, Ford, Nissan, ”, Insurance, ” Insurance, Traffic, Administration, The Insurance Institute, Institute, The, . Insurance, Cruise, Tesla, GM, Insurance Institute for Highway, Insurance Institute

☆ Automakers Are Sharing Consumers’ Driving Behavior With Insurance Companies
▼ + stars: | 2024-03-11 | by ( Kashmir Hill | ) www.nytimes.com time to read: +1 min

So Mr. Dahl, 65, was surprised in 2022 when the cost of his car insurance jumped by 21 percent. One insurance agent told him his LexisNexis report was a factor. Upon Mr. Dahl’s request, LexisNexis sent him a 258-page “consumer disclosure report,” which it must provide per the Fair Credit Reporting Act. What it contained stunned him: more than 130 pages detailing each time he or his wife had driven the Bolt over the previous six months. The only thing it didn’t have is where they had driven the car.

Persons: Kenn Dahl, He’s, Dahl, Dahl’s Organizations: Chevrolet, LexisNexis Locations: Seattle, New York

☆ Porsche unveils one of the fastest cars in the world, featuring a 1,000-horsepower ‘launch control’ button
▼ + stars: | 2024-03-11 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

The electric 1,093-horsepower Taycan Turbo GT, coming to market this summer, has already set two race track speed record for an electric car. High horsepower numbers and eye-popping acceleration are more common among electric cars than gasoline-powered ones, especially since EVs can have multiple motors. This Turbo GT, a new version of the electric Porsche Taycan, features two motors. One, the standard Porsche Taycan Turbo GT, will be fast but reasonably comfortable for street driving. The Porsche Taycan Turbo GT with Weissach Package, though, will dispense with backseats and other comfort items to save weight.

Persons: Nordschleife Organizations: CNN, Porsche, Tesla, Toyota, Turbo, Taycan, Volkswagen Group Locations: Turkish

☆ The global trade system has already started planning for potential Trump win, new China tariffs
▼ + stars: | 2024-03-11 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +9 min

The Trump administration used delegated authorities under three trade laws to unilaterally levy tariffs without Congressional approval. The Trump administration tariffs kickstarted a shift in supply chain strategy which, according to Frank, became more well-developed by customers during Covid, when they contemplated moving factories and production out of China. He expects any increase in tariffs during a second Trump presidency to lead to a greater shift in trade from China to Mexico to avoid the tariffs. "If you charge tariffs to China, they're going to build ... their car plants here and they're going to employ our people," Trump said. S&P Global research shows that China's share of the imports of products covered by tariffs imposed by the Trump administration has dropped.

Persons: Donald Trump, Trump, Niki Frank, Frank, Beth Whited, they'd, Paul Brashier, Chris Rogers, Biden, Rogers, Jon Gold, John Taylor IV, Taylor, Peter Boockvar, Critics, it's, that's Organizations: United, Canada Trade, White, CNBC, Global, Trump, China, Biden, OF DHL, Union, Canadian Pacific, Canadian Pacific Kansas City, Union Pacific, ITS Logistics, P Global, Vietnam, National Retail Federation, Berlin Packaging, Trade, Bleakley Financial, ASEAN Locations: United States, Mexico, Canada, Washington , DC, U.S, OF DHL Asia, Long Beach , California, China, Union Pacific, Canadian Pacific Kansas, East, West, Vietnam, Malaysia, South Korea, CNBC Mexico, Europe, Thailand, Indonesia

☆ New York Times report finds automakers sharing consumer driving habits with insurance companies
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew York Times report finds automakers sharing consumer driving habits with insurance companiesHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Brian Sullivan, “ Organizations: New York Times, CNBC

Those more concerned with the climate crisis are asking a bigger question: what does this all mean for the planet? Gas-powered cars, hybrids and EVs all emit roughly the same amount of pollution to manufacture, until you get to producing the battery. Fully electric cars use large batteries made of materials that require heavy mining. And that would still mean less climate pollution on the road overall. And fully electric cars won’t be truly “green” until the energy that charges them comes from renewable sources, like wind and solar.

Persons: Akio Toyoda, EVs, Joe Biden’s, Toyota’s, Daniel Sperling, —, ”, Sam Abuelsamid, Abuelsamid, InfluenceMap, Biden, Kelley, Albert Gore, Gore, I’m, “, ” Monica Nagashima, Lia, Kena, Stephen Ciccone, ” Ciccone, BEV, ” UC’s Sperling Organizations: CNN, Toyota, Auto, US, Toyota Prius Prime, Toyota Toyota, Institute of Transportation Studies, University of California, Ford, EPA, Gas, American Council for, Prius, EV, InfluenceMap, United, Lexus, Cox Automotive, Zero Emission Transportation Association, Getty, Toyota Motor North America, ” Toyota Locations: California, West Virginia, Canada, Australia, United States, EVs, InfluenceMap’s, Japan, Rockland, Blauvelt , New York

☆ Warren Buffett once warned that most dot.com startups would fail. His words lit a fire under Amazon's Jeff Bezos.
▼ + stars: | 2024-03-10 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Warren Buffett warned during the dot-com bubble that most internet startups were doomed to fail. Jeff Bezos took the investor's words to heart and told Amazon's workforce to never get complacent. AdvertisementWarren Buffett's famous warning during the internet bubble was a wake-up call for Jeff Bezos that Amazon's long-term survival was the furthest thing from guaranteed. He predicted that would be the case for internet startups too, with all the hype and speculation fading over time and leaving only a handful of companies surviving. This story is available exclusively to Business Insider subscribers.

Persons: Warren Buffett, Jeff Bezos, Buffett, Milton Berg, —, Warren Buffett's, Berkshire Hathaway Organizations: Service, Berkshire, US, Business Locations: Sun

☆ China's BYD is the world's biggest electric car maker — but it's not coming to America anytime soon
▼ + stars: | 2024-03-09 | by ( George Glover | ) www.businessinsider.com time to read: +6 min

Read previewJapanese and Korean carmakers cracked the US market long ago — but don't expect Chinese EV seller BYD to repeat that feat. Advertisement"It'd be very difficult for a Chinese EV maker to enter the US market," Seth Goldstein, an equity strategist at Morningstar, told Business Insider. The bill, a key part of US President Joe Biden's economic agenda, offers tax credits worth up to $7,500 for EV makers, excluding any "Foreign Entity of Concern." BYD isn't the only company turning its back on the US EV market. Given that EV sales growth is stalling in US, it's perhaps little wonder companies like BYD are not too bothered.

Persons: —, There's, Tesla, We're, Stella Li, BYD, Seth Goldstein, I'm, Suzuki, Jim Farley, Will Roberts, Goldstein, Roberts, Joe Biden's, Joe Biden, Demetrius Freeman, Rho Motion's Roberts, you'd, Li, carmakers Organizations: Service, Yahoo Finance, Business, Morningstar, Toyota, Motors, Nissan, Mazda, Lexus, Honda, Mitsubishi, Korea's Hyundai, Kia, North, Ford, EV, Rho, Energy, Treasury, Washington Post, Cox Automotive, Apple Locations: Korean, North America, —, China, North American, Russia, Iran, North Korea, Brazil, Thailand, Americas, Asia, South America

☆ BMW Is a Surprise Winner in Electric Vehicles
▼ + stars: | 2024-03-09 | by ( Jack Ewing | ) www.nytimes.com time to read: +1 min

The German automaker’s electric vehicles are made on the same assembly line as gasoline cars and look similar from the outside. The company sold 376,000 electric vehicles last year, including some under its Mini brand, a 75 percent increase from the previous year. Electric vehicles accounted for 15 percent of BMW sales in 2023, up from 9 percent the previous year. The company’s growth comes as sales of electric vehicles have risen at a slower pace overall around the world. What is even more surprising is that BMW, unlike General Motors or Ford Motor, made a profit on the electric vehicles it sold.

Organizations: BMW, Tesla, General Motors, Ford Locations: Munich

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