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<ul class="summary-list"><li><keyword id="19895433" type="General" weightage="100" keywordseo="Tesla" source="keywords" meta.keywordsubtype="org" meta.entityname="Tesla" meta.hostid="261" meta.entityid="Tesla">Tesla</keyword>'s falling California sales point to bigger problems for the car company.</li><li>Changes to the EV market are finally catching up to Tesla.</li></ul>Tesla is losing some ground in its former home state of California, signaling more trouble ahead for the world's largest electric car company. As <keyword id="20360560" type="General" weightage="20" keywordseo="electric-car-sales" source="keywords">electric car sales</keyword> rose 2% in California, Tesla's sales in the state fell 3.5%, according to third-quarter <a target="_blank" class="" href="https://www.cncda.org/news/california-new-car-dealers-association-releases-q3-2024-auto-outlook-report/">figures</a> from the California New Car Dealers Association. That's not an anomaly. It's the third straight quarter of Tesla sales declines in the largest EV market in the US. The losses don't upset Tesla's market dominance: the Elon Musk-led company still accounted for more than half of all EV sales in California for the quarter. Through September 30, Tesla's EV market share in California declined from 64% to 55% year-over-year— still nearly five times that of Hyundai (5.6%) and BMW (5%) combined. The trend in California underscores Tesla's challenges as the <a target="_blank" class="" href="https://www.businessinsider.com/electric-vehicle-misconceptions-about-the-ev-transition-market-sales-2024-5">EV market matures</a> and new competition makes it harder for the company's aging lineup to entice new buyers. In addition to these economic challenges, <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-political-beliefs-public-stances-timeline-republican-desantis-2022-6">Musk's political views</a> have shifted further right, with the CEO endorsing and campaigning for Republican presidential candidate Donald Trump in the 2024 election. That can impact sales in a solidly blue state like California. Actor Jason Bateman recently said he isn't driving a Tesla anymore because of Musk's connection to Trump. "I got rid of my Tesla," Bateman told vice presidential candidate Tim Walz on an episode of his podcast <a target="_blank" href="https://www.smartless.com/episodes/episode/288fe449/governor-tim-walz">Smartless</a>, which he hosts with Sean Hayes and Will Arnett. "I feel like I'm driving around a Trump sticker with that car, so it's gone." <h2>The EV market is maturing</h2>EV demand in the US has been slowing for about a year. It took longer for that slowdown to hit <a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla</a> than other competitors, but it's clear now that Musk is feeling the pinch as its once-reliable buyer base of wealthy early adopters is replaced by a more practical and frugal green-car shopper. Previous tactics like slashing prices and offering dealership-like incentives to buy Teslas over other EVs aren't working as well as they used to. Following <a target="_blank" class="" href="https://www.businessinsider.com/tesla-production-deliveries-second-quarter-decline-2024-7">two quarters of slipping sales</a>, Tesla's share of the US electric car market dipped below 50% for the first time at the end of the second quarter, according to data from Cox Automotive. The automotive retail firm attributed much of <a target="_blank" class="" href="https://www.businessinsider.com/tesla-loses-market-share-but-elon-musk-still-wins-2024-7">Tesla's waning dominance</a> to an influx of new competition, which offered EV shoppers more choices. This increase in choices is especially threatening for Tesla, which does not regularly update the looks of its electric cars — a strategy industry experts have been warned for years could come back to bite the company. An increase in demand for hybrid-electric vehicles has also been "detrimental" to Tesla and overall EV adoption, <a target="_blank" class="" href="https://www.businessinsider.com/tesla-blames-hybrids-for-lower-sales-2024-4">according to Musk</a>. Many industry experts disagree, arguing that hybrids are a necessary bridge technology for EV adoption among later adopters. <h2>Elon's politics turn off some customers</h2>Musk is no stranger to controversy. The bombastic billionaire's rise over the past decade has been in part due to his willingness to thumb his nose at some social codes and government agencies. But as Musk becomes a more permanent fixture in the US's far-right movement, some owners and potential customers have been having <a target="_blank" class="" href="https://www.businessinsider.com/tesla-owners-consider-selling-cars-shares-cybertruck-elon-musk-post-2023-11">second thoughts about supporting Tesla</a>. As Tesla owners take to social media to express their displeasure with Musk's political involvement, automotive industry experts say there could be real consequences for the CEO's "Dark MAGA" era. <a target="_blank" class="" href="https://www.businessinsider.com/ev-demand-still-strong-despite-slowdown-hybrids-survey-2024-1">Today's electric car shopper</a>, who is often considering an EV for environmental reasons, is less willing to look past Musk's support for Trump and other conservative leaders, experts say. Musk, for his part, has denied that his involvement in politics is impacting sales. "Tesla's sales are actually doing great," he said during a recent X space. "We're hitting all-time highs." Correction — October 31, 2024: An earlier version of this post incorrectly said California was Tesla's home state. The company's headquarters is now in Texas.

Why Tesla's sales are slipping in California, and what it means for Elon Musk's car company

Luxury car maker <keyword id="19980471" type="General" weightage="20" keywordseo="Mercedes-Benz" source="keywords" meta.keywordsubtype="org" meta.entityname="Mercedes-Benz" meta.hostid="261" meta.entityid="Mercedes-Benz">Mercedes-Benz</keyword> India on Monday expanded its <keyword id="20763359" type="General" weightage="20" keywordseo="Battery-Electric-Vehicle" source="keywords">Battery Electric Vehicle</keyword> (BEV) range in the country with the launch of the locally produced <keyword id="23188212" type="General" weightage="20" keywordseo="EQS-580-4MATIC" source="keywords">EQS 580 4MATIC</keyword>. India is the first country outside the US to start the <keyword id="20805504" type="General" weightage="20" keywordseo="local-production" source="keywords">local production</keyword> of the seven-seater electric SUV. EQS SUV 580 4MATIC is the second model, after the EQS sedan, to be locally produced at company's Pune-based manufacturing plant. "This will be our sixth EV in India, and the second car to be locally produced in India. We are also proud that India becomes the first market out of the US to locally manufacture the EQS," Mercedes-Benz India Managing Director and CEO Santosh Iyer told PTI in an interaction. The move to manufacture the product locally outlines the company's commitment to electrification and increasing product portfolio offering choices to customers, he added. "EQS SUV's localisation underpins our deep commitment to grow the Indian <keyword id="23188213" type="General" weightage="20" keywordseo="luxury-electric-car" source="keywords">luxury electric car</keyword> market and reinforce our commitment for a greener and sustainable future," Iyer said. The move also supports the government's vision of Make-in-India, he said. Iyer said local production has led to a significant advantage in terms of pricing the electric SUV. The introductory price of EQS SUV 580 4MATIC starts at Rs 1.41 crore which should also make a lot of customers shift to EVs much faster in terms of transition, he said. When asked about the demand for green vehicles, Iyer said the sales of EVs were growing in the country with even high-end products finding acceptance. "The EQA sedan which was introduced in India around 18 months back, we have sold more than 500 cars. It's a car costing more than Rs 1.6 crore. Our total penetration of EVs is 5 per cent today, it's growing. For sure, customer acceptance is there," he stated. Iyer noted that the company remains committed to offer top-end luxury EV products offering higher range in the market. He noted that there may be more opportunities in the entry EV segment but the focus of the company firmly remains on bringing luxury products in the market. "To bring products at lower price points, that is not our current strategy," Iyer said. The company aims to offer products with higher driving range, a factor that leads to bigger battery and escalation in price, he added. The EQS SUV 580 4MATIC is India's longest range electric SUV with ARAI certified range of 809 kms. Iyer said the company remains committed to the Indian market and has announced an additional investment of Rs 200 crore earlier towards manufacturing operations, new product start-ups and digitisation of manufacturing processes. The company till date has invested over Rs 3,000 crore in India, he added. In the January-September period this year, Mercedes-Benz India has launched three new BEVs ' EQA, EQS SUV 580 and Mercedes-Maybach EQS 680 SUV. With the EQS SUV 580 4MATIC, the company now offers the EQA, EQB, EQE SUV, EQS SUV, EQS sedan and Maybach EQS SUV 680 in the market. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/arkade-developers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113384216.cms">Arkade Developers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-and-samsung-accused-of-colluding-with-amazon-and-flipkart/articleshow/113381204.cms">Xiaomi and Samsung accused of colluding with Amazon and Flipkart</a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-neo-with-dimensity-7300-50mp-camera-launched-in-india/articleshow/113386868.cms">Motorola Edge 50 Neo with Dimensity 7300, 50MP camera launched in India</a>

Mercedes expands BEV range; rolls out second locally produced model in India

Alphabet’s autonomous vehicle subsidiary, <keyword id="20448705" type="General" weightage="20" keywordseo="Waymo" source="keywords" meta.keywordsubtype="org" meta.entityname="Waymo" meta.hostid="261" meta.entityid="Waymo">Waymo</keyword>, is reportedly in discussions with South Korean automaker <keyword id="19906087" type="General" weightage="100" keywordseo="Hyundai" source="keywords">Hyundai</keyword> Motor to delegate the production of its next-generation <keyword id="19967698" type="General" weightage="20" keywordseo="self-driving-cars" source="keywords">self-driving cars</keyword>. According to a Reuters report originally attributed to South Korea's Electronic Times, the two companies have already met multiple times to explore the possibility of using Hyundai’s <keyword id="21666250" type="General" weightage="20" keywordseo="Ioniq-5" source="keywords">Ioniq 5</keyword> electric cars as the platform for Waymo’s sixth-generation <keyword id="21167728" type="General" weightage="20" keywordseo="autonomous-technology" source="keywords">autonomous technology</keyword>. The report further adds that if these talks move forward, Hyundai’s vehicles could potentially replace Waymo’s current test models, which are being built by China-based Zeekr. This shift in suppliers comes at a critical time as the United States government recently implemented significantly higher tariffs on Chinese imports, including a 100 percent duty on <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword>, set to take effect on September 27. The tariff hikes were confirmed by the Biden administration last week, which could lead to strategic moves for companies reliant on Chinese manufacturing. When Reuters approached for a comment on this potential collaboration, Waymo declined to address the speculation directly. However, the company did confirm to Reuters that it is actively testing and refining its sixth-generation self-driving system on the Zeekr platform and plans to introduce the vehicles to its fleet once they are fully validated. Hyundai, on the other hand, has remained non-committal regarding its involvement in the reported talks. A spokesperson for Hyundai Motor Group told Reuters, "At this point, no final decisions have been made about new ventures." The automaker, however, is no stranger to autonomous technology. Hyundai has its own self-driving arm, Motional, which had previously announced plans to launch a robotaxi service using Hyundai Ioniq 5 electric vehicles. However, the introduction of this service was postponed until 2026, with Motional also laying off hundreds of employees in the U.S. earlier this year, according to a report by TechCrunch. This potential partnership between Waymo and Hyundai marks a significant step in the race to expand autonomous driving services. Waymo has a history of collaborating with established automakers for its fleet. The company has already integrated its autonomous technology into vehicles from Stellantis and Jaguar Land Rover, offering self-driving ride-hailing services in major U.S. cities like Phoenix, San Francisco, and Los Angeles. Although Zeekr has been a key partner for Waymo's latest technology trials, the looming U.S. tariffs on Chinese-made electric vehicles might force the company to rethink its supply chain and partner strategy. Zeekr, a brand under China’s Geely Automobile Holdings, has been an important player in Waymo's testing of its autonomous driving systems, but the changing regulatory environment could encourage a shift to a more geographically diverse manufacturing base, such as Hyundai in South Korea. In light of these developments, the potential collaboration between Waymo and Hyundai could be a game-changer, not just for the companies involved but also for the broader autonomous vehicle industry. The partnership could give Waymo an edge in securing a more stable supply chain while also tapping into Hyundai’s expertise in electric vehicle production as the company navigates the challenges posed by new trade regulations and technological advancements.

Hyundai is reportedly in talks with Waymo to build self-driving cars, all details

<ul class="summary-list"><li>Uber CEO Dara Khosrowshahi said tariffs on Chinese EVs are "negative" for the planet.</li><li>He said that Chinese EVs are part of the solution to the climate crisis. </li></ul><a target="_blank" class="" href="https://www.businessinsider.com/top-uber-lyft-driver-concerns-low-earnings-declining-pay-safety-2024-8">Uber</a> wants to go electric and use Chinese EVs to do so. In an <a target="_blank" class="" href="https://www.bbc.co.uk/news/articles/cm29j4kx4vmo">interview with the BBC</a>, Uber CEO <a target="_blank" class="" href="https://www.businessinsider.com/uber-ceo-dara-khosrowshahi-helped-turn-billion-dollar-profit-2024-2">Dara Khosrowshahi</a> said that EVs made in China would be crucial in fighting the climate crisis and criticized the tariffs imposed by the US and the EU on Chinese automakers like BYD.It comes as Uber attempts to convince its drivers to switch to electric vehicles, with the company aiming to have <a target="_blank" class="" href="https://www.businessinsider.com/uber-electric-vehicles-evs-sustainability-charging-anxiety-dara-khosrowshahi-2023-6">all its rides made by zero-emission vehicles by 2040</a>.Khosrowshahi told the BBC that "high-quality" Chinese EVs were part of the solution to the climate crisis, and that electric vehicles made in China were "good for the environment."The Uber CEO also said tariffs against Chinese EVs introduced by the US and Europe were "negative" for the planet, suggesting that Chinese-made electric vehicles could help ease the transition to EVs by providing a steady stream of <a target="_blank" class="" href="https://www.businessinsider.com/byd-cheap-ev-seagull-coming-to-europe-china-us-tariffs-2024-5">more affordable vehicles</a>."For us, we want to electrify our fleet, and we want to make sure that it is affordable for our drivers," said Khosrowshahi.Uber announced a <a target="_blank" class="" href="https://www.businessinsider.com/byd-uber-partnership-electric-vehicles-discount-autonomous-self-driving-tesla-2024-8">partnership with Chinese Tesla rival BYD in August</a>, which would see Uber drivers in various markets — including Europe — get discounts on 100,000 BYD vehicles.Uber did not immediately respond to a request for comment on whether this deal is still running after the EU's tariff announcement. <h2 id="4cc37aa4-7faf-4ce7-b7c4-75d271d56f45">Sweeping tariffs </h2>BYD and its China-based competitors like Nio and Zeekr have been hit by a series of tariffs introduced by Western governments seeking to protect their car industries from a wave of cheap Chinese EVs.The US announced a <a target="_blank" class="" href="https://www.businessinsider.com/white-house-joe-biden-hikes-tariffs-on-chinese-made-evs-2024-5">100% import tax on Chinese electric cars</a> in May, while the EU recently voted to <a target="_blank" class="" href="https://www.businessinsider.com/chinese-electric-vehicles-european-tariffs-retaliation-vw-bmw-mercedes-tesla-2024-10">raise tariffs on Chinese manufacturers to as high as 45%</a>.The trade barriers have received a frosty reception from some within the auto industry, however.Tesla CEO Elon Musk, who previously called for measures to stop Chinese EVs from <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-warns-chinese-ev-firms-could-demolish-rivals-2024-1">"demolishing"</a> their Western rivals, <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-comments-biden-tariff-chinese-electric-vehicles-2024-5">said he was "generally in favor of no tariffs"</a> after the Biden administration introduced the new import taxes.Uber says it has invested around $800 million in convincing its drivers to go electric, introducing <a target="_blank" class="" href="https://www.businessinsider.com/uber-electric-vehicles-evs-sustainability-charging-anxiety-dara-khosrowshahi-2023-6">incentives such as discounted charging.</a>Customers can also select an electric EV in certain areas when they request an Uber but Khosrowshahi said they may have to get used to waiting a little longer as most Ubers are still petrol, diesel, or hybrid. "We're not saying, hey, wait 15 minutes, but if you have to wait another two, or three minutes to help the environment, why not make that investment?" he said."A couple of minutes isn't going to kill anyone," he added.

Uber's CEO wants you to ride in an electric car — and is fine if it's made in China

<ul class="summary-list"><li>Europe's automakers are reeling from plunging EV sales and brutal competition in China.</li><li>Mercedes-Benz became the latest to sound the alarm on Friday, posting a 31% drop in EV sales in its Q3 earnings.</li></ul>Europe's automakers are struggling amid falling demand and increased competition from China, with <a target="_blank" class="" href="https://www.businessinsider.com/mercedes-benz-ev-2030-electric-car-market-trends-2024-2">Mercedes-Benz</a> the latest to sound the alarm over plunging EV sales.The German carmaker said it had seen a 31% drop in sales of battery-powered cars from a year earlier as it reported its third-quarter earnings on Friday.Sales of all Mercedes cars in China also slumped by 10% in the first nine months of the year amid waning demand for luxury vehicles.Mercedes finance chief Harald Wilhelm said the company would pursue "cost improvements" across its business, with Mercedes' return on sales sliding to 4.7% in Q3.The premium automaker is the latest European car giant to run into trouble as <a target="_blank" class="" href="https://www.businessinsider.com/ev-sales-europe-slumping-warning-sign-us-2024-9">the continent struggles with lackluster EV sales</a>.Rivals VW, BMW, and Fiat parent Stellantis have all issued profit warnings in recent weeks, as the European auto industry faces weak demand and competition from Chinese upstarts at home and abroad.Registrations of new EVs in August dropped 44% in Europe and a massive 69% in Mercedes' home market of Germany, industry data shows.Although they <a target="_blank" class="" href="https://www.acea.auto/pc-registrations/new-car-registrations-6-1-in-september-2024-year-to-date-battery-electric-market-sales-5-8/">recovered slightly in September</a>, sales of new electric vehicles this year still remain nearly 6% lower than at the same point in 2023, according to data from the European Automobile Manufacturers' Association.In China, meanwhile, European automakers that once dominated are under increasing pressure from <a target="_blank" class="" href="https://www.businessinsider.com/china-manufacturing-overcapacity-no-benefit-from-cheap-electric-vehicles-bain-2024-6">local rivals pushing inexpensive EVs</a>.They now face the prospect of competing <a target="_blank" class="" href="https://www.businessinsider.com/byd-cheap-ev-seagull-coming-to-europe-china-us-tariffs-2024-5">with the likes of BYD in Europe, too</a>, with Chinese carmakers expanding product lines and setting up manufacturing plants <a target="_blank" class="" href="https://www.businessinsider.com/chinese-electric-vehicles-european-tariffs-retaliation-vw-bmw-mercedes-tesla-2024-10">despite the European Union's mooted tariffs</a>.Mercedes' weak sales in China are in contrast with General Motors, which this week said that <a target="_blank" class="" href="https://www.businessinsider.com/gm-stock-earnings-crushing-it-suvs-trucks-evs-2024-10">sales in the country were up 14% from the second quarter</a>, although the Detroit automaker still lost $137 million in Q3.Mercedes did not immediately respond to a request for comment.

Mercedes-Benz electric car sales plunge by a third as Chinese competition and stuttering demand hit home

Italian <keyword id="19946118" type="General" weightage="20" keywordseo="luxury" source="keywords">luxury</keyword> carmaker <keyword id="20673655" type="General" weightage="100" keywordseo="Maserati" source="keywords" meta.keywordsubtype="org" meta.entityname="Maserati" meta.hostid="153" meta.entityid="Maserati">Maserati</keyword> believes <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> has the potential to be among its top ten global markets in the mid term with the country's <keyword id="20041662" type="General" weightage="20" keywordseo="entrepreneurs" source="keywords">entrepreneurs</keyword> driving its sales, according to the company's Head of Overseas Markets, <keyword id="22976712" type="General" weightage="20" keywordseo="philippe-claverol" source="keywords">Philippe Claverol</keyword>. The company, which on Friday launched its <keyword id="22975850" type="General" weightage="20" keywordseo="granturismo" source="keywords">GranTurismo</keyword> model with prices starting at Rs 2.72 crore, is also studying the feasibility of introducing its <keyword id="19906970" type="General" weightage="20" keywordseo="electric-vehicle" source="keywords">electric vehicle</keyword> range in India. "Maserati is a luxury brand, so we don't look at huge volume for us. A big market for us is a market where we sell 500 cars a year... but I think in mid term, in few years, I think in India, we can reach this kind of 500 (units a year)," Claverol told PTI here on the sidelines of the launch. He, however, said volume isn't "an objective in itself" for Maserati. He further said,"I know who are the top markets of Maserati worldwide. I think India can become one of the top 10 markets for Maserati in the mid term." Currently, North America, Italy, Switzerland, China, Japan, Australia, Taiwan and the UAE are the top global markets for Maserati and India with less than 50 units sold last year is still a small market, he added. Yet, Claverol said, India is an important market for Maserati. "It is a land of entrepreneurs. A vast majority, 80 per cent of our customers in India are entrepreneurs," he said. Also, India is a country with a lot of appreciation for luxury products, he said, adding "we feel that there is a good match". In order to enhance its presence in India, Maserati is expanding sales network, he said. Maserati already has a <keyword id="20400384" type="General" weightage="20" keywordseo="dealership" source="keywords">dealership</keyword> in Mumbai and opened a new one on Friday here in the national capital and will open one in Bengaluru later this year, Claverol said. "We see that the North India market is bigger actually than the Mumbai market and we also think that Bengaluru is the third pillar. This dealership expansion is also because we want to go where the markets are in terms of volume," he said. Asked about plans for launching electric vehicles in India, Claverol said Maserati has the electric version of the conventional engine models under the Folgore range globally and the company will study the feasibility of bringing it in India. "We will, with our partners, start to look at how is the market, how to train our people, how to train the technicians, how to analyse, how to build the right offer, the pricing, the charging solution, and so on, and then, once we will be ready, we will look at the pricing, and we will obviously try to launch the Folgore range as well," he said. Asked about the timeline for a possible launch of the electric range, he said,"The sooner, the better. The cars are available."

India has potential to be in Maserati's top 10 global markets in mid term: Co-official

22 Tesla features that make them unlike any other electric cars

<ul class="summary-list"><li><keyword id="19969321" type="General" weightage="100" keywordseo="EV-charging" source="keywords">EV charging</keyword> is so bad it's driving people back to <keyword id="19951339" type="General" weightage="20" keywordseo="fossil-fuels" source="keywords">fossil fuels</keyword>.</li><li>Lack of <keyword id="20111395" type="General" weightage="20" keywordseo="charging-infrastructure" source="keywords">charging infrastructure</keyword> is already a barrier for many would-be EV buyers.</li></ul>Difficulty charging and other issues are leading some EV buyers to consider switching back to fossil fuels — the latest bad sign for the <a href="https://www.businessinsider.com/electric-vehicle-misconceptions-about-the-ev-transition-market-sales-2024-5" target="_blank">EV transition</a>. A recent consumer study conducted by <a href="https://executivedigest.sapo.pt/wp-content/uploads/2024/06/Mobility-Consumer-Pulse-2024_Overview.pdf" target="_blank">McKinsey</a> found that 46% of US EV owners surveyed said they were likely to switch back to a gas-powered vehicle, compared to a global average of 29% of EV owners who said they would likely switch back to an internal-combustion engine. Respondents in 9 major countries said the top reason for potentially ditching their EVs was<a href="https://www.businessinsider.com/electric-car-ev-road-trip-toyota-bz4x-genesis-gv60-charging-2023-8" target="_blank"> a lack of charging infrastructure</a>, something the US has historically <a href="https://www.iea.org/reports/global-ev-outlook-2024/outlook-for-electric-vehicle-charging-infrastructure" target="_blank">lagged</a> behind other nations in building. Other charging issues high on the list included a lack of charging at home and the impact of long-distance driving. <keyword id="21396729" type="General" weightage="20" keywordseo="range-anxiety" source="keywords">Range anxiety</keyword> and access to charging infrastructure have long been considered <a target="_blank" href="https://www.businessinsider.com/electric-vehicle-charging-availability-cost-automakers-tesla-supercharger-advantage-2023-2">one of the top barriers to electric vehicle adoption</a>, but the revelation that these same issues may drive current <keyword id="22369439" type="General" weightage="20" keywordseo="battery-powered-car-owners" source="keywords">battery-powered car owners</keyword> back into <keyword id="20635927" type="General" weightage="20" keywordseo="gas-powered-cars" source="keywords">gas-powered cars</keyword> is a new blow for the already rocky <keyword id="20729481" type="General" weightage="20" keywordseo="EV-transition" source="keywords">EV transition</keyword>. Despite the challenges facing the segment, EVs accounted for a record 7.6% of all cars sold in the US in 2023 while the number of charging stations hit 61,000. While the rate of growth has slowed, industry experts and executives have said they expect some EV share to grow to 8% in 2024 as new models continue to hit the market, helping to keep their <a href="https://www.businessinsider.com/ev-electric-car-deals-leases-kia-hyundai-tesla-ford-2024-6" target="_blank">average price falling.</a> While there are plenty of shoppers interested in an electric vehicle, the options on sale today are often too big, too expensive, or not practical enough to replace a gas-powered car. Car companies are already <a target="_blank" href="https://www.businessinsider.com/automakers-back-to-the-drawing-board-ev-plans-2024-2">scrambling to adjust</a> to a sudden change in the electric vehicle market in order to draw more new customers. The slowdown in electric vehicle sales growth has rocked everyone from Ford to <a target="_blank" href="https://www.businessinsider.com/tesla-sales-miss-ev-slowdown-new-wave-customers-2024-4">Tesla</a>, denting sales and forcing executives to rethink their long-term plans for electric vehicles. While the industry has made great strides in electric vehicle range and battery charging times, <a target="_blank" href="https://www.businessinsider.com/ev-charging-needs-to-improve-amenities-offerings-stores-2024-6">huge holes in the infrastructure</a> make certain areas nearly impossible to navigate without a gas-powered engine. McKinsey's study found this issue to be particularly acute in the US, which had the second-highest rate of respondents say they're considering ditching their EV. (In first place was Australia, with 49% of respondents saying they are likely to switch back.) America's high placement shouldn't come as too much of a surprise. <a target="_blank" href="https://www.businessinsider.com/electric-vehicle-range-ev-charging-station-infrastructure-issues-2024-5">Charging infrastructure here has long been a hot-potato issue</a>, which has held back efforts to build more chargers. While a push from the automotive industry to fund charging infrastructure has led to a boom in public charging stations in the last two years, these have largely been money-losing ventures. On the government side, the Biden Administration has set aside $7.5 billion for charging infrastructure with a vow to add 500,000 EV charging stations by 2030. But that effort in reality has played out slowly so far, with only a handful of stations going live since the funding was approved two years ago. Addressing charging infrastructure is already high on the industry's list of priorities when it comes to removing barriers to adoption, but the fact that it might also drive existing EV owners away only amplifies the issue. Correction: July 9, 2024 — An earlier version of this story misidentified where respondents who said they were considering switching back to gas-powered cars because of charging issues were located. They were in 9 countries, not only the US.

EV charging is so bleak that some owners are considering going back to gas-powered cars, survey finds

<ul class="summary-list"><li>Tesla has criticized the US government's plans to ban Chinese software from US cars.</li><li>In a regulatory filing, the automaker said the new rules would add "unneeded regulatory burdens."</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla</a> has criticized plans to ban Chinese tech in US cars, warning that doing so risks burying automakers in a deluge of red tape.In <a target="_blank" class="" href="https://www.regulations.gov/comment/BIS-2024-0005-0135">a comment</a> on the proposed ban on Chinese-developed software submitted last week, Tesla said that the regulations would create a "massive, and ultimately unnecessary regulatory reporting regime."The automaker criticized the regulations' wording for adding "unneeded regulatory burdens" on software designed by non-US individuals.Tesla's comments were submitted as part of a consultation into the new rules. <a target="_blank" class="" href="https://www.telegraph.co.uk/business/2024/11/03/tesla-hits-out-at-biden-ban-on-chinese-car-tech/">The Telegraph</a> first reported on the filing.The Biden administration <a target="_blank" class="" href="https://www.businessinsider.com/biden-proposes-ban-china-russia-tech-connected-cars-security-fears-2024-9">unveiled plans to ban Chinese and Russian tech from internet-connected cars in September</a>. Officials warned that cars with Chinese components posed a threat to national security and the privacy of US citizens.The new rules would affect vehicle software and autonomous driving systems and likely end Chinese self-driving companies' <a target="_blank" href="https://www.businessinsider.com/chinese-driverless-car-companies-stop-reduce-testing-california-roads-2024-2">testing of</a><a target="_blank" class="" href="https://www.businessinsider.com/chinese-driverless-car-companies-stop-reduce-testing-california-roads-2024-2"> vehicles in the US</a>.It marked the latest escalation in the US crackdown on China's growing automotive industry.The US government previously <a target="_blank" class="" href="https://www.businessinsider.com/white-house-joe-biden-hikes-tariffs-on-chinese-made-evs-2024-5">introduced a 100% tariff on Chinese EVs</a> to protect the American auto industry from a wave of cheap Chinese electric vehicles.Despite previously warning that <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-warns-chinese-ev-firms-could-demolish-rivals-2024-1">China's EV giants would "demolish"</a> their Western rivals without trade barriers, Elon Musk criticized the Biden administration's move, saying <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-comments-biden-tariff-chinese-electric-vehicles-2024-5">neither he nor Tesla asked for the tariffs</a>.Tesla has a huge presence in China, making it vulnerable if the Chinese government introduces retaliatory restrictions.The company has said it aims to start selling its Full Self-Driving assisted driving system in China next year, pending regulatory approval, as local rivals like <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-full-self-driving-technology-china-local-competition-2024-4">Nio and Xpeng</a> increasingly roll out smart electric cars packed with autonomous driving features.Tesla did not respond to a request for comment, sent outside normal working hours.

Tesla criticizes Biden's plan to ban Chinese tech in cars

As the world celebrates World EV Day, <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s significant progress in adopting <keyword id="19895203" type="General" weightage="100" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> (EVs) across various categories is commendable, however, there is still a long way to go. The government of India's <keyword id="23096041" type="General" weightage="20" keywordseo="Vaahan-Dashboard" source="keywords" meta.keywordsubtype="org" meta.entityname="Vaahan Dashboard" meta.hostid="153" meta.entityid="Vaahan Dashboard">Vaahan Dashboard</keyword> data shows an increasing trend to shift towards green mobility solutions. The most notable trend in EV penetration has been witnessed in the three-wheeler category, where EVs have surged ahead in overall sales. According to the data, 53.61% of all new three-wheeler vehicles purchased this year (2024) were electric, making this segment the leader in <keyword id="20421629" type="General" weightage="20" keywordseo="EV-adoption" source="keywords">EV adoption</keyword>. The two-wheeler segment has also shown encouraging signs of EV adoption, with electric vehicles accounting for 4.97% of all two-wheeler sales so far in 2024. While the percentage is lower compared to <keyword id="20412606" type="General" weightage="20" keywordseo="three-wheelers" source="keywords">three-wheelers</keyword>, the two-wheeler category holds significant potential for growth, given its dominance in India's overall vehicle sales market. As more consumers seek cost-effective and <keyword id="20991927" type="General" weightage="20" keywordseo="environmentally-friendly" source="keywords">environmentally friendly</keyword> alternatives, the penetration of EVs in this segment is expected to grow further in the coming years. However, in the four-wheeler segment, the adoption of EVs remains relatively low, with electric cars making up just 2.14% of total car sales this year. Despite this, the increasing availability of EV models and government incentives are expected to drive further growth in this segment. Interestingly, the penetration of electric buses is higher than that of electric cars, with 3.20% of all new buses sold in 2024 being electric. This trend highlights the growing importance of sustainable public transport solutions as cities aim to reduce emissions and promote cleaner alternatives in mass transit. "Electric vehicles offer a very compelling solutions because they do not emit any tailpipe emissions so that improves their air quality that reduces their air pollution. It also reduces the carbon emission so it helps India to meet with its climate goals and generally, electric vehicles have lower operating cost as compared to the IC engine vehicles," said Samhita Shiledar, Director RMI to ANI. On a state-wise level, the Vaahan dashboard data highlighted that Goa leads the country in EV penetration, with 14.20% of all new vehicles sold this year being electric. Tripura ranks second, followed by Chandigarh in third place. Delhi also stands out with a 10.72% penetration of EVs in total vehicle sales, showcasing the capital's push towards sustainable urban mobility. On the other hand, Himachal Pradesh reported the lowest EV penetration, with only 1.09% of new vehicles sold being electric. In terms of total number of EV sales across all segments in India, the two-wheeler category dominates the electric vehicle market in India, accounting for approximately 51% of total EV sales this year. As World EV Day highlights the global commitment to cleaner mobility solutions, India's data reflects a promising shift but a long way to go towards electrification across various vehicle segments.

World EV Day: 50%+ three-wheelers, 5% of 2-wheelers, and 2% of cars purchased in 2024 are EVs.

<ul class="summary-list"><li>Tesla stock surged as much as 8% after a report said President-elect Donald Trump plans to ease self-driving car regulations.</li><li>The incoming Trump administration is aiming to prioritize a federal framework for autonomous vehicles.</li></ul><a target="_blank" class="" href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> stock surged as much as 8% on Monday after a <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-11-17/trump-team-said-to-want-to-ease-us-rules-for-self-driving-cars?srnd=homepage-americas">Bloomberg</a> report said the incoming Trump administration is seeking to relax autonomous driving regulations.That would be a boon for Tesla, which has staked its future on launching fully autonomous electric vehicles in the coming years.According to the report, President-elect Donald Trump's transition team told advisors that they plan to make implementing a federal framework for fully self-driving vehicles a top priority for the Department of Transportation.The current federal rules are strict about car manufacturers selling large quantities of vehicles without steering wheels or foot pedals.For reference, Tesla CEO and Trump ally Elon Musk recently <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-cybercab-robotaxi-details-production-earnings-call-2024-10">unveiled an autonomous vehicle</a> named the Cybercab with no steering wheel or foot pedals.Tesla said it plans to begin selling the Cybercab in 2026.The National Highway Traffic Safety Administration allows manufacturers to deploy only 2,500 self-driving vehicles annually. Legislative efforts to increase the self-driving restriction to 100,000 vehicles per manufacturer a year have repeatedly failed.A request for comment from the Trump transition team was not immediately returned.According to Wedbush analyst Dan Ives, if restrictions on fully self-driving vehicles are eased, Tesla will be the main beneficiary, calling it a "significant tailwind for Tesla's autonomous and AI vision heading into 2025.""Musk's significant influence in the Trump White House is already having a major influence and ultimately the golden path for Tesla around Cybercabs and autonomous is now within reach with an emboldened Trump/Musk strategic alliance playing out in real time and very in line with our thesis," Ives said in a note on Sunday.Ives estimates autonomous vehicles are a $1 trillion opportunity for Tesla, and if realized, could catapult Tesla to a $2 trillion valuation over the next 12 to 18 months, representing potential upside of 76% from current levels.Tesla stock has surged 37% since Donald Trump's election win earlier this month.

Tesla stock jumps 8% on Trump administration plan to relax self-driving car rules

<ul class="summary-list"><li>US drivers are experiencing EV fatigue due to range anxiety and a spotty charging network.</li><li>Extended-range EVs, which can be charged with a gas-powered generator, may offer a solution.</li></ul>America might be facing an electric-vehicle fatigue that the auto industry can't afford to have.One study published in June by McKinsey found that almost half of EV owners in the US said they're likely to <a target="_blank" class="" href="https://www.businessinsider.com/ev-charging-is-so-bad-its-driving-owners-back-to-gas-2024-6">turn back to a gas-powered vehicle</a>, citing reasons from range anxiety over an unreliable <a target="_blank" class="" href="https://www.businessinsider.com/electric-vehicle-charging-availability-cost-automakers-tesla-supercharger-advantage-2023-2">charging network</a> to the high cost of ownership.Other problems cited in the study include an inability to charge the vehicle at home and the impacts on long-distance driving.It's been a rocky transition in the US from internal combustion engine vehicles to EVs. <a target="_blank" href="https://www.businessinsider.com/electric-vehicle-misconceptions-about-the-ev-transition-market-sales-2024-5">Sales have slowed, though </a><a target="_blank" class="" href="https://www.businessinsider.com/electric-vehicle-misconceptions-about-the-ev-transition-market-sales-2024-5">demand hasn't dissipated</a>.One potential solution is fast gaining traction in China, where EVs dominate. However, it does require gas.<h2 id="cdf4e554-23bd-4130-a6a7-ef2a8ff7a95c">What are EREVs?</h2>An extended-range electric vehicle (EREV) is solely propelled by a battery, but the battery itself can be charged by a generator that requires gasoline.With the generator, the range of EREVs can double that of their pure EV counterparts, even for large vehicles.Last year Stellantis NV announced the <a target="_blank" class="" href="https://www.businessinsider.com/ram-electric-truck-ramcharger-gas-generator-range-charging-2023-11">Ramcharger</a>, an EREV truck that promises a 690-mile driving range — more than twice that of the Tesla Cybertruck.Of course, that gas-reliant generator proposes some environmental trade-offs compared to a pure EV. EREVs still emit pollutants, but one 2020 study published in the Public Library of Science found that the overall environmental impact is lower than hybrid vehicles — which are propelled by an internal combustion engine and an electric motor — and gas-powered vehicles.The study also noted that EREVs consume about 15% less mineral resources than hybrid electric vehicles and about 35% less fossil energy than gas-powered vehicles.According to a recent Bloomberg report, the design of EREVs means a smaller battery pack than traditional EVs, reducing the overall costs by about $4,000. However, the battery pack is larger than hybrids, making EREVs more expensive than typical HEVs.<h2 id="a4876777-b482-4f38-9187-870f75ed4406">EREVs rise in China</h2>EREVs have yet to catch on in the US, but they're fast gaining traction in China, where EV makers are seeing <a target="_blank" class="" href="https://www.businessinsider.com/chinese-electric-vehicles-byd-selling-record-cars-tesla-competition-deliveries-2024-7">record sales numbers</a>.According to The Detroit News, citing the China Automobile Dealers Association, the country saw 116,00 wholesale shipments of EREVs in 2024, a 113% increase from last year.A report from <a target="_blank" class="" href="https://assets.bbhub.io/professional/sites/24/2431510_BNEFElectricVehicleOutlook2023_ExecSummary.pdf">Bloomberg New Energy Finance</a> showed that EREV sales more than doubled since last year and now make up 30% of China's plug-in hybrid sales.American automakers appear to be taking note.Following a visit to China, Ford CEO Jim Farley raved about the potential for EREVs as an "in-between" solution for customers at the Bernstein Annual Strategic Decisions Conference in May.With EREVs, "you get an EV and you have 700 miles a range. You'd have no range anxiety for a long term, you don't have to rely on any chargers, and those vehicles have half the batteries," he said.However, adoption of EREVs in the US could still face barriers from regulators, manufacturers, and environmentalists.As the Bloomberg report noted, EREVs may not be classified as pure EVs, which means they could be exempt from the <a target="_blank" class="" href="https://www.businessinsider.com/buying-electric-car-could-save-caveats-2024-6">$7,500 tax credit</a>.A GM spokesperson also told the outlet that EREVs are "complicated and costly" to build.And because they rely on gas, EREVs could be placed under the umbrella of hybrid vehicles, which some environmentalists now argue don't do enough to push the world toward zero-emissions vehicles.The Ramcharger is set to be the second EREV sold in the US. The Chevrolet Volt, introduced in 2010, was the first EREV but was discontinued in 2019 as it was marred by <a target="_blank" class="" href="https://www.businessinsider.com/50-once-beloved-cars-that-have-been-discontinued-2019-3#chevrolet-volt-9">low sales</a> amid a shift in consumer preference for <a target="_blank" class="" href="https://www.businessinsider.com/car-buying-tips-electric-vehicles-pricing-americans-pickups-trucks-suvs-2023-2">larger vehicles</a>.

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