LONDON: Tesla Energy Ventures Limited has been granted a licence authorising it to supply electricity to domestic and non-domestic consumers in Great Britain. Ofgem confirmed today (Thursday 12th March) that the licence has been formally approved by its governing body, the Gas and Electricity Markets Authority, under section 6(1)(d) of the Electricity Act 1989. It follows…
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EU car sales rise in August; Chinese brands gain ground as Tesla slips
BRUSSELS: Car sales across the European Union, Britain and the European Free Trade Association rose 4.7% in August to 800,000 units, according to data released Thursday by the European Automobile Manufacturers’ Association (ACEA). Volkswagen and Renault posted year-on-year gains of 4.8% and 7.8%, respectively, while Stellantis saw a 2.2% increase — its first growth since…
Tesla sales rebound in Australia amid global challenges
Tesla reported a sales rebound in Australia in May, with deliveries reaching their highest level in nearly 12 months. The automaker sold 3,897 vehicles, driven by record sales of its updated Model Y SUV, which surged 122.5% year over year. However, Model 3 sales dropped significantly. Despite the May rebound, Tesla’s year-to-date sales in Australia…
Tesla’s Australian sales surge as Model Y demand soars
Tesla saw a rebound in Australian sales in May, hitting their highest level in nearly a year despite declines in the U.S. and Europe. The EV maker reported 3,897 deliveries, largely driven by strong demand for its revamped Model Y compact SUV, which surged 122.5% year over year. In contrast, sales of the Model 3…
Xiaomi unveils Tesla Model Y competitor YU7 in Beijing showrooms
Xiaomi introduced its latest electric SUV in Beijing on Thursday, marking another step in the smartphone maker’s ambitious push into China’s competitive auto market. The YU7, positioned as a rival to Tesla’s popular Model Y, is now on display at 13 Xiaomi retail locations across the capital, with pre-orders set to begin in July. The launch follows the…
Tesla to launch in Saudi Arabia amid declining Europe sales
Tesla is set to launch in Saudi Arabia next month, marking its entry into the Gulf region’s largest market. The company announced the April 10 event in Riyadh, where it will showcase electric vehicles, solar-powered products, and innovations like Cybercab and Optimus, its humanoid robot. Tesla’s expansion comes amid declining sales in Europe and global protests…
Tesla Roundup: Crypto Endorsements, Political Backlash, and Charging Innovations
Elon Musk’s Crypto Endorsement and Political Moves Elon Musk, the Tesla billionaire, has recently endorsed bitcoin and backed Howard Lutnick for Trump’s Treasury secretary. This move comes amid Musk’s warnings about U.S. government spending and potential financial emergencies. His endorsement of Donald Trump has sparked anger among some Tesla owners, leading them to buy anti-Musk…
Tesla & Ford Supply Chain & Battery executive Annie Liu joins TeraWatt Technology
TeraWatt Technology Inc., a next-generation battery producer announced the appointment of former Tesla & Ford supply chain & battery executive Annie Liu as an External director. Ms. Liu boasts a proven track record of securing transformative multi-billion-dollar partnerships across the battery supply chain, encompassing cell manufacturers and facilitating Gigafactory development. She is the Founder of…
Tesla to cut workforce by 10%, Drew Baglino and Rohan Patel depart
In a significant shake-up at Tesla Inc., senior executives Drew Baglino and Rohan Patel have announced their departure from the leading electric vehicle and clean energy firm. The announcement was made public on Monday, with CEO Elon Musk expressing his gratitude towards the two departing executives on X, the social network platform he owns. The…
Tesla eyes India for $3 billion EV factory: A strategic move in global manufacturing
Tesla will explore locations in India this month to set up an electric vehicle factory, according to a Financial Times report. Tesla’s exploration of potential locations in India for a new electric vehicle (EV) factory represents a significant development in the country’s automotive industry. The proposed investment of up to $3 billion underscores the magnitude…
Tesla CEO Elon Musk loses $55 billion pay package after court ruling
Tesla shareholders have won a landmark legal victory against the company’s CEO Elon Musk and its board of directors, who had granted Musk an unprecedented $55 billion pay package in 2018. The Delaware Court of Chancery has ruled that the pay package was invalid and must be cancelled, saving Tesla stockholders from massive dilution. The…
Tesla Plans to Launch a New Mass Market EV in 2025
Tesla, the electric vehicle (EV) pioneer, is gearing up to introduce a new mass market EV codenamed “Redwood” in mid-2025, Reuters reported. The new model is expected to be a compact crossover, one of the most popular segments in the global car market. Tesla’s CEO Elon Musk has been teasing fans and investors with the…