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Tesla's cheapest current model, the Model 3 sedan, retails for about $39,000 in the United States. The stark reversal comes as Tesla faces fierce competition globally from Chinese electric-vehicle makers flooding the market with cars priced as low as $10,000. Plans for the affordable Tesla have been seen as key to delivering on Musk's stratospheric ambitions for sales growth. Expectations for a $25,000 vehicle have underpinned Wall Street analysts' more modest, but still ambitious, forecasts for Tesla sales. Those forecasts, according to a Tesla investor-relations document, call for vehicle sales rising to 4.2 million by 2028 from 1.8 million last year.
Persons: Tesla, Elon Musk, Musk, driverless, Tesla's, EVs, he'll, Walter Issacson Organizations: Reuters, robotaxis, SpaceX, Twitter, Toyota Locations: Texas, United States, robotaxi
DETROIT (AP) — Tesla sales fell sharply last quarter as competition increased worldwide, electric vehicle sales growth slowed, and price cuts failed to draw more buyers. In its letter to investors in January, Tesla predicted “notably lower” sales growth this year. In March it temporarily knocked $1,000 off the Model Y, its top-selling vehicle. During the quarter, Tesla lost production time in Germany after a suspected arson attack cut its power supply. But sales growth slowed toward the end of the year.
Persons: Tesla, FactSet, Dan Ives, , Elon Musk, ” Ives, Ives, Itay Organizations: DETROIT, Tesla, Citi, U.S, EV Locations: Austin , Texas, Fremont , California, Red, China, Germany
A Xiaomi SU7 electric sedan is seen displayed at a regional HQ of Xiaomi in Nanjing in east China's Jiangsu province. BEIJING — Shares of Chinese smartphone maker Xiaomi surged 15% when the Hong Kong market opened Tuesday, the first trading day since the company launched its SU7 electric car ahead of the Easter holiday. Chinese EV startups Xpeng and Nio announced car purchase subsidies Monday of 20,000 yuan ($2,800) and 10,000 yuan each, respectively. The price reductions come as growth of new energy vehicles in the world's largest auto market shows signs of slowing. Penetration of battery and hybrid-powered passenger cars has surpassed more than one third of new cars sold in China, according to the China Passenger Car Association.
Persons: Xiaomi, Tesla, Nio Organizations: BEIJING —, China Passenger Car Association Locations: Xiaomi, Nanjing, China's Jiangsu, BEIJING, Hong Kong, Beijing, China
Xiaomi is warning EV customers could face a wait time of four to seven months, Reuters reported. The delays could be a sign of strong demand for the smartphone maker's first-ever EV. Last week, Xiaomi launched the Speed Ultra 7 in a Beijing event. AdvertisementCustomers wishing to purchase one of Chinese smartphone maker Xiaomi's new electric vehicles could be kept waiting for up to seven months, Reuters reported. Last week, Xiaomi launched its first line of EVs, the Speed Ultra 7 (SU7), at a lavish event in Beijing.
Persons: Xiaomi, Organizations: Reuters, Service, Business Locations: Beijing
BYD has overtaken Tesla as the world's biggest maker of electric vehicles. I drove a Seal for a week and was impressed by its stylish design, features and crazy acceleration. The Seal is a similar price to Tesla's Model 3 in the UK — but BYD is not a well-known make. AdvertisementLast year BYD overtook Tesla as the world's biggest seller of electric vehicles. I borrowed a BYD Seal in Excellence trim, which also boasts all-wheel drive, for a week.
Persons: BYD, Tesla, , It's Organizations: Tesla's, Service, Volkswagen Locations: China, London
Deliveries are the closest approximation of sales reported by Tesla but are not precisely defined in the company's shareholder communications. Tesla's Model 3 is about $4,000 more than that. Aging lineup, early days for Cybertruck While EV sales are still gaining popularity worldwide, the growth rate has slowed. In a push for end-of-quarter sales, Musk recently mandated that all sales and service staff install and demo FSD for customers before they hand over their cars. Despite its name, Tesla's premium option requires a human driver at the wheel, ready to steer or brake at any moment.
Persons: Florence Lo, Tesla, Troy Teslike, Tesla's, China's BYD, BYD, Lei Jun, Emmanuel Rosner, Rosner, Elon Musk, Krisztian Bocsi, Rohan Patel, Musk, Sandy Munro, Forbes, Larry Magid, Donald Trump, He's, he's, Investor Ross Gerber, who've, Brad Gerstner, Gerstner, FSD Organizations: Reuters, FactSet, Independent, Qin, Tesla's, China Passenger Car Association, Bloomberg, Deutsche Bank, Tesla, Volvo, Elon, Tesla Inc, Getty, IF Metall, IF Metall's, IF, Pew Research, Gallup, Investor, CNBC, Bears, S3 Partners, U.S Locations: Beijing, China, China In China, Shanghai, Europe, Red Sea, Iran, Gruenheide, Germany, Brandenburg, Berlin, Swedish, Sweden, U.S, Austin , Texas, San Jose , California, Fremont , California, Florida, Haiti, Texas, Delaware
BEIJING — Chinese smartphone company Xiaomi said Thursday it will sell its first car for far less than Tesla's Model 3, as price wars heat up in China's fiercely competitive electric car market. Xiaomi CEO Lei Jun said the standard version of the SU7 will sell for 215,900 yuan ($30,408) in the country — a price he acknowledged would mean the company was selling each car at a loss. He also said the SU7 had a minimum driving range of 700 kilometers (nearly 435 miles) versus the Model 3's 606 kilometers. Lei also claimed that Xiaomi's car factory, for which all "key" steps are fully automated, can produce an SU7 every 76 seconds. Earlier this week, the Xiaomi CEO said on social media the SU7 would be the best sedan "under 500,000 yuan" ($69,328).
Persons: Xiaomi, Lei Jun, Lei, Tesla Organizations: Tesla's, Tesla, Huawei Locations: BEIJING, China, Beijing
Hong Kong CNN —Xiaomi formally launched its much-anticipated electric car — the new Speed Ultra 7 (SU7) sedan — on Thursday night in Beijing. “Xiaomi wants to build a ‘dream car’ comparable to Porsche and Tesla,” he said on Weibo Wednesday. On Thursday, Xiaomi announced that prices for SU7 models would range from 215,900 yuan ($29,874) to 299,900 yuan ($41,497). Xiaomi’s SU7 has been on display in showrooms in 29 cities across mainland China since Monday, according to Lei. People look at Xiaomi's first electric vehicle SU7, displayed in a newly opened Xiaomi store in Beijing on March 25, 2024.
Persons: Hong Kong CNN — Xiaomi, Lei Jun, “ Xiaomi, , Xiaomi, SU7, Lei, Tingshu Wang, It’s Organizations: Hong Kong CNN, Porsche, Tesla, Weibo, Counterpoint Research, Reuters, Porsche Taycan, Tesla’s Locations: Hong Kong, Beijing, China, EVs
BEIJING (AP) — Xiaomi, a well-known maker of smart consumer electronics in China, is joining the country's booming but crowded market for electric cars. The tech company will start taking orders for the SU7, a sporty four-door sedan, following a launch event with founder Lei Jun in Beijing on Thursday evening. Government subsides have helped make China the world's largest market for electric vehicles, and a bevy of new makers are locked in fierce competition. "I believe that one day, Xiaomi EVs will be a familiar sight on roads around the world,” he was quoted as saying in a company news release. “China is determined to dominate the future of the auto market, including by using unfair practices,” President Joe Biden said when the U.S. investigation was announced.
Persons: , Lei Jun, Lei, Xiaomi, Le, , automaking, , ” Le, Joe Biden, I’m Organizations: BEIJING, Analysts, Fitch, Sino, Insights, EU, U.S, Trade Organization, U.S . Defense Department, U.S . Locations: China, Beijing, American, U.S
Johannesburg, South Africa CNN —For South Africans, normality is a sliding scale. In October, a heavily armed gang blocked off one of the busiest highways near Johannesburg as it blew up a cash-in-transit vehicle – a security van carrying cash. Cash-in-transit, or CIT, heists are one of the most dramatic illustrations of a crime wave that has shocked even the most hardened South Africans. His argument is not entirely factual: crime affects South Africans from all walks of life, not just those earning a comfortable living. The South African police minister, Bheki Cele, recently highlighted what he called the successes of the Crime Intelligence division in tackling organized crime and rooting out corruption within the ranks of the force.
Persons: Nelson Mandela, , Byron Blunt, Ngwenya, , , Petrus Mthembu, SAPS, Athlenda Mathe, Bheki Cele, Joe van der Walt, Esa Alexander, Gareth Newham, What’s Organizations: South Africa CNN, heists, CIT heists, National Congress, ANC, CNN, , CIT, Motor Transport Workers Union, South African Police Service, Reuters, Hawks, AK, South, Crime Intelligence, Focus Group, ” Police, Town, Private Security Industry Regulatory Authority, Institute for Security Studies Locations: Johannesburg, South Africa, Africa, R350,000, Makhado, Limpopo, Cape Town , South Africa
On Thursday, Xiaomi will officially launch the SU7 electric vehicle and begin taking orders. Xiaomi CEO Lei Jun on Monday teased the price of the Chinese firm's first electric vehicle ahead of its official launch this week. Xiaomi Group President Weibing Lu told CNBC previously that the company is targeting the premium segment of the electric car market. The EV market is in the midst of a price war which was sparked by Tesla at the end of 2022. "Three years ago, I announced that Xiaomi was going to enter the EV market.
Persons: Xiaomi, Lei, Lei Jun, Weibing Lu, Li Auto, Tesla Organizations: Weibo, Xiaomi, CNBC, stoke, EV Locations: Hefei, Anhui Province, China, Xiaomi
A Jaguars ex-employee has been sentenced to 78 months in prison for stealing $22 million from the team. Amit Patel, 31, spent almost all of the money on losses on Draft Kings and FanDuel, his lawyers said. Prosecutors said Patel also used the cash to buy private flights, luxury items, and cars. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA former Jacksonville Jaguars employee who pleaded guilty to stealing $22 million from the team was sentenced to six and a half years in prison on Tuesday.
Persons: Amit Patel, FanDuel, Prosecutors, Patel, , undoubtably, Tiger Woods, Philippe, Megha Parekh, Parekh, Henry Lee Adams Jr Organizations: Jaguars, Service, Jacksonville Jaguars, Justice Department, Tesla, Nissan, Associated Press, BI, ESPN, NFL Locations: District, Florida, Beach , Florida
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
Meta's chief technology officer, Andrew Bosworth, is a big fan of his Mercedes AMG EQS. More recently, he drove a Honda Accord for 10 years and then a Tesla Model S for another decade, Bosworth said. His Tesla Model S, Bosworth said, "had a thing happen to it while it was parked." AdvertisementSpringing for a Mercedes AMG EQS isn't cheap: The 2023 luxury sedan has a retail price of $147,550. The interior of the Mercedes AMG EQS.
Persons: Andrew Bosworth, Mercedes AMG, Bosworth, EQS, , Mercedes, Getty Mercedes Organizations: Mercedes, Benz, Service, Getty, Honda Accord, Tesla
Alef Aeronautics said it's received over 2,850 reservations so far for its $300,000 flying car. The Silicon Valley startup is backed by Elon Musk's SpaceX. A $300,000 flying car known as the Model A is in the works at Alef Aeronautics, and the SpaceX-backed Silicon Valley startup said it's gotten over 2,850 preorders. Alef Aeronautics is set to begin deliveries in Q4 of 2025. The Model A was the first flying car to receive approval for test flights from the Federal Aviation Administration in July.
Persons: it's, Elon Musk's, , Jim Dukhovny, Alef Organizations: Aeronautics, Elon Musk's SpaceX, Service, Alef Aeronautics, SpaceX, CNBC, preorder, Federal Aviation Administration Locations: preorders
watch nowBARCELONA, Spain — Alef Aeronautics, a SpaceX-backed flying car firm, says it has reached 2,850 preorders for its futuristic electrical vertical takeoff and landing (eVTOL) vehicle. Dukhovny calls Alef's vehicle the "first flying car in history." "But we always had the idea that it has to be a car, a physical car, a regular car, as you can see it's an eVTOL, an electric car. Alef's car is mainly designed to be driven on the road, but will be able to take to the skies, too. To drive on the road, the car uses four small engines in each of the wheels, and will drive similar to a normal electric car.
Persons: Jim Dukhovny, Dukhovny, David Zorrakino, Tim Draper, Elon Organizations: Spain — Alef Aeronautics, SpaceX, Alef Aeronautics, Boeing, Airbus, Joby Aviation, CNBC, Mobile, Europa Press, Getty, SKTelecom Locations: BARCELONA, Spain, San Mateo , California, Alef, Germany, Korean
CNN —Back in 2019, Elon Musk made an astonishing claim for Tesla vehicles. But four years after Musk’s 2019 prediction, the average used Tesla Model 3 is selling for $29,000. Sticker prices for new Teslas dropped about 21% over the past year, according to Cox Automotive. Logically, people expect to pay less for a used car than they would for a new one. Why buy a used car if you could get a brand new vehicle for only a little more or maybe even less, after all?
Persons: Elon Musk, Musk, , Tesla, , FSD, Ivan Drury, Wall, Teslas, Hertz, ” Hertz, Stephen Scherr, ” Drury, EVs, Drury Organizations: CNN, Cox Automotive, EV, Hyundai, Kia, Audi, Volkswagen, Edmunds.com, Tesla Locations: America, Ford, Edmunds.com, Colorado
At launch, the Maserati GranCabrio is available in the Trofeo trim level. It includes a 3.0 liter twin-turbo V6 engine. The sports car is based off the Maserati GranTurismo Trofeo sedan that's currently on sale starting at $190,000 with the same 3.0 liter twin-turbo V6 engine. Maserati, which is owned by Stellantis , said the price of the convertible model will be announced closer to when the vehicle is available to customers. The 2024 GranCabrio could assist Maserati in growing its profits and sales this year.
Persons: carmaker Organizations: Maserati, Stellantis Locations: U.S
BYD Han EV sedan is on display during the Shanghai International Automobile Industry Exhibition on April 18, 2023 in Shanghai, China. The newly launched Han sedans, available as plug-in hybrids and pure EVs, and the Tang hybrid SUV, will have a starting price that is 10.35% to 14.3% lower than previous versions, Reuters calculations showed. The automaker lowered the starting price for the Qin Plus EV and hybrid by 15% and 20%, respectively, versus price cuts of 8% and 11% respectively for the two models in 2023, Reuters calculations showed. The starting price for the Tang hybrid was unchanged last year from 2022, when BYD launched the Champion Edition of that model but the new version of Tang hybrid this year is 14% cheaper. It unveiled a sportscar U9 under the Yangwang brand on Sunday with a starting price of 1.68 million yuan ($233,353).
Persons: Tang, BYD, Tesla Organizations: Shanghai International Automobile Industry, Tang, Qin Locations: Shanghai, China
CNN —BYD is a Chinese carmaker that recently unseated Tesla as the world’s leading seller of electric vehicles. Its new all-electric Yangwang U9 has nearly 1,300 horspower and is designed to compete directly with Lamborghini and Ferrari. As an electric supercar, the Yangwang U9 combines power and performance similar to a 1,800-horsepower, $2 million Rimac Nevera, but in a package costing less than gasoline-powered cars from the famous Italian automakers. Tesla chief executive Elon Musk has said that Chinese EV makers like BYD could “demolish” other automakers as the industry transitions to electric vehicles. ]”A rear view of the BYD Yangwang U9 electric car in Shenzhen, China, earlier this year.
Persons: Tesla, BYD, Elon Musk, ” Carlos Tavares, Stellantis, Qilai Shen, Stephan Winkelmann, CNN’s Shawn Feng Organizations: CNN, Lamborghini, Ferrari, Dolphin, Elon, Jeep, Fiat, Bloomberg, Getty Locations: Chinese, Europe, New York, Shenzhen, China
AUSTIN, Texas (AP) — A large aquarium in the lobby of a Texas emergency room likely saved lives when it absorbed the impact of a car that smashed through the entrance, a hospital official said Wednesday. The crash Tuesday evening at St. David's North Austin Medical Center killed the driver and injured five other people, including two children, including one who suffered life-threatening injuries. “The vehicle had direct impact to a very large aquarium that really, I believe, saved lives,” Dr. Peter DeYoung, the hospital's chief medical officer, said at a news conference with police and city emergency officials. Photos You Should See View All 22 ImagesPhotos showed a silver sedan with a mangled front end sitting entirely inside the lobby. The smoke came from the vehicle's tires as the wheels were still spinning on the floor tile, DeYoung said.
Persons: David's, ” Dr, Peter DeYoung, Ariel Crumes, Michell Holloway, DeYoung, ” DeYoung Organizations: Austin Medical Center, Police, Authorities Locations: AUSTIN, Texas, St
The Chrysler Halcyon concept car. The Chrysler Halcyon concept car. The Chrysler Halcyon concept car. StellantisAutomakers routinely use concept vehicles to gauge customer interest or show the future direction of a vehicle or brand. The Halcyon concept car boasts "harmony in motion" and sustainability principles, according to several officials.
Persons: Christine Feuell, we've, Feuell, Stellantis Organizations: Chrysler, DETROIT, Chrysler Pacifica, Stellantis, Fiat Chrysler, French, PSA, , CES Locations: U.S, Canada
Many Pakistanis Make a Perilous Journey to Vote
  + stars: | 2024-02-07 | by ( Feb. | At P.M. | ) www.usnews.com   time to read: +5 min
With tens of thousands displaced from the tribal regions, most candidates vying to represent constituencies there have campaigned in other cities such as Dera Ismail Khan. "Due to the war, people's houses were destroyed," Moulana Jamal Uddin, a candidate from South Waziristan, told Reuters by phone. "I appeal to the people of South Waziristan to vote," he said. Khan Ullah, a 42-year-old shop owner, said he has avoided political gatherings in Dera Ismail Khan because he feared an attack on them was a real possibility. (Reporting by Saud Mehsud in Dera Ismail Khan; writing by Ariba Shahid in Karachi; Editing by Raju Gopalakrishnan)
Persons: Saud Mehsud DERA ISMAIL, Ullah Mehsud, Mehsud, Dera Ismail Khan, Pakistan's, Amjad Khan, Khan, hometowns, Maulana Raheem Ullah, Moulana Jamal Uddin, Khan Ullah, Saud Mehsud, Ariba Shahid, Raju Gopalakrishnan Organizations: Reuters, Pakhtunkhwa, Pak Institute, Peace Studies, Force Locations: Saud Mehsud DERA ISMAIL KHAN, Pakistan, South Waziristan, Qaeda, U.S, Afghanistan, Waziristan, Khyber, Taliban Pakistan, Balochistan, KP, Karachi
DETROIT (AP) — Honda is recalling more than three quarters of a million vehicles in the U.S. because a faulty sensor may cause the front passenger air bags to inflate when they're not supposed to. Also included are the 2021 and 2022 Civic hatchback, the 2021 Civic Type R and Insight, and the 2020 and 2021 CR-V, CR-V Hybrid, Passport, Ridgeline and Accord Hybrid. Affected models from the Acura luxury brand include the 2020 and 2022 MDX, the 2020 through 2022 RDX and the 2020 and 2021 TLX. Documents posted Tuesday by the U.S. National Highway Traffic Safety Administration say that the front passenger seat weight sensor may crack and short circuit, and fail to turn off the air bag as intended. Dealers will replace the seat sensors at no cost to owners.
Persons: — Honda, they're Organizations: DETROIT, Honda, Acura, U.S . National, Traffic Safety Administration Locations: U.S
Classes were canceled Monday for schools across Santa Barbara County, which was devastated by mudslides caused by powerful storms in 2018. Evacuation orders and warnings were in effect for mountain and canyon areas of Monterey, Santa Barbara, Ventura and Los Angeles counties. Gavin Newsom declared a state of emergency for Los Angeles, Orange, Riverside, San Bernardino, San Diego, San Luis Obispo, Santa Barbara and Ventura counties. As of Sunday afternoon, the Los Angeles Unified School District, the nation’s second largest, said it was planning to open schools as usual Monday. ___Associated Press videographer Eugene Garcia in Ventura, Calif., and radio reporter Julie Walker in New York contributed to this report.
Persons: Alexis Herrera, ” Herrera, Ryan Kittell, , Lindsay Horvath, ” Horvath, Gavin Newsom, Alberto Carvalho, videographer Eugene Garcia, Julie Walker Organizations: ANGELES, San Francisco Bay Area, Sunday, San Francisco International, Palisades, Central, Gov, Emergency Services, Los Angeles Unified School District, Associated Locations: California, San Francisco Bay, San Jose, Southern California, Santa Barbara, Ventura, Sacramento, San Francisco, Sierra Nevada, Hawaii, Northern California, Monterey, San Luis Obispo County, Los Angeles, LA, Topanga, Soledad, Los Angeles , Orange, Riverside, San Bernardino, San Diego, San Luis Obispo, Ventura counties, Southern, Ventura , Calif, New York
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