With the onset of the new guidelines, the number of EV models qualifying for US EV tax credits fell from 43 to 19.

Slow sales led Tesla to leverage its industry-leading margins and slash prices of its four car models globally this year.

Mass production of the revamped Tesla Model Y is expected to begin by mid-2024 in the Shanghai Giga factory.

The vehicle is estimated to get a price tag of 800,000 yuan (USD 112,178).

NIO ET9 is available for pre-order in China while its delivery is expected to begin in the first quarter of 2025.

Japan, which is Southeast Asia’s second-largest economy, is also the largest car producer and exporter in the region.

Tesla uses its pioneering 4680 battery in the Cybertruck but the speed at which it can make these batteries is proving to be a bottleneck.

Hyundai, last month, started laying the foundation for a 2 trillion won plant dedicated to making EVs in South Korea.

Biden administration weighs tariff increases on Chinese goods

The NIO ET7 becomes the world’s longest-range vehicle, showcasing the capabilities of its swappable high-density 150 kWh semi-solid state battery pack.