The EPA rules aim to cut fleetwide tailpipe emissions for cars and light trucks by nearly 50% through 2026 levels in 2032.
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“Sales of Chinese smartphone maker Xiaomi’s first electric car have been 3-5 times higher than expected”, said CEO Lei Jun.
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The layoffs follow the cancellation of Tesla’s long-promised inexpensive car, expected to cost USD 25,000, that investors have been counting on.
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BYD has already delivered nearly 20,000 units of Bao 5, the first model under its premium Fangchengbao brand.
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At Tesla’s German plant, 3,000 of the carmaker’s roughly 12,000 staff have been reportedly fired.
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Tensions have been rising between China and the West over increasing exports and competition to local players.
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Piedmont still needs to obtain local regulatory approval in North Carolina and financing amid low lithium prices.
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BP Pulse has reduced the number of countries it operates in from 12 to four, focusing now on the US, Britain, Germany and China.
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US issues auto dealers over USD 580 million in advance EV tax rebates this year
In December last year, the Treasury issued guidelines aimed at weaning the U.S. EV supply chain away from China.
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VinFast last year sold 35,000 EVs, quite below its 50,000 target, representing just a tiny fraction of its 300,000 vehicle production capacity.