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Market watchdog SEBI has come out with a consultation paper in a bid to ease the functioning of <keyword id="22476006" type="General" weightage="100" keywordseo="ESG-Rating-Providers" source="keywords">ESG Rating Providers</keyword> (ERPs), pushing for the development of a <keyword id="23760035" type="General" weightage="20" keywordseo="subscriber-pays-model" source="keywords">subscriber-pays model</keyword>. As of July 2024, nine ERPs are registered with SEBI to operate in the country. These include <keyword id="23760037" type="General" weightage="20" keywordseo="CRISIL-ESG-Ratings" source="keywords">CRISIL ESG Ratings</keyword> &amp; Analytics, ESG Risk Assessments and Ratings, GlobeTrend Climate Impact Institutional Investor Advisory Services, <keyword id="23760038" type="General" weightage="20" keywordseo="NSE-Sustainability-Ratings" source="keywords">NSE Sustainability Ratings</keyword> and Analytics, PGS Impact, Pragati Development Consulting, CARE ESG Ratings, and SES ESG Research. Per the paper's proposal, ERPs won't be required to disclose ESG (environmental, social, and governance) ratings to the bourses, provided they confirm that there is no non-public information that could potentially affect the rating. Another proposal was the simultaneous sharing of the ESG rating reports both to the rated companies and to the subscribers who pay to access these reports. ERPs should ensure that rated entities, their group companies, or associates cannot subscribe to their own ESG ratings, SEBI said in its consultation paper. Some of the other suggestions put forth by SEBI include: 1. Companies will have a specific timeframe to respond to the ESG report, and any such comments should be included in the report as an addendum. 2. In case the ERP does not agree with the remarks issued by the rated company, they can add their comments to the report as well. 3. ERPs can rate unlisted issuers or other products, provided they meet specific guidelines from relevant regulators. SEBI is receiving public comment on these proposals until November 15, 2024. <h2>Steady returns </h2>Of the 11 ESG mutual fund schemes available to Indian mutual fund investors, the Quant ESG Equity fund has generated the highest returns of about 45.44% over one year, data from ValueResearch showed. Simply put, had you invested Rs 10,000 every month in this fund for three years, you would have accumulated a corpus of Rs 5,47,525. Over three years, the returns on this fund come to around 26%. This was followed by the ICICI Pru ESG Exclusionary Strategy fund, which yielded 44.73% returns over the same period. However, over ultra-short terms, i.e., 1-3 months, ESG funds have largely delivered negative returns, underscoring their suitability only as a long-term investment avenue. Only the SBI ESG Exclusionary Strategy Direct Fund and Quantum ESG Best In Class Strategy Direct Fund have been around for 5 years, during which they have generated returns of about 16.67% and 18.7%, respectively. <keyword id="23760036" type="General" weightage="20" keywordseo="ESG-mutual-funds" source="keywords">ESG mutual funds</keyword> typically select and invest in companies that are ESG-compliant, i.e., who weave in environmental conversation, social welfare, and robust <keyword id="20392393" type="General" weightage="20" keywordseo="corporate-governance" source="keywords">corporate governance</keyword> practices into their working philosophy and work ethos, while simultaneously generating decent financial returns for stakeholders as well.

SEBI mulls measures to facilitate ease of doing business for ESG Rating Providers (ERPs)

Parker manages Nvidia's internal sustainability efforts by measuring and managing its water use and its conversion to renewable energy sources. He also evangelizes the potential for AI tools and data science to improve sustainability outside the company. Before joining Nvidia in 2023, Parker worked as a lawyer specializing in ethics and compliance in-house for the data storage company Western Digital and for a tech-focused law firm. He studied electrical engineering before law school at New York University School of Law.See Business Insider's full <a target="_blank" class="" href="https://businessinsider.com/ai-power-list-2024">AI Power List</a>

Josh Parker leads on Nvidia's sustainability efforts from water use to renewable energy.

In an age of rapid <keyword id="22943705" type="General" weightage="20" keywordseo="satellite-deployment" source="keywords">satellite deployment</keyword>, the sky above is not just getting more crowded but also becoming noisier with unintended radio wave emissions. Satellite swarms orbiting Earth, particularly the second-generation <keyword id="19998609" type="General" weightage="100" keywordseo="Starlink-satellites" source="keywords">Starlink satellites</keyword>, are leaking more <keyword id="22477491" type="General" weightage="20" keywordseo="electromagnetic-radiation" source="keywords">electromagnetic radiation</keyword> than ever before. This radiation, which bleeds into protected wavelength bands reserved for <keyword id="21166517" type="General" weightage="20" keywordseo="radio-astronomy" source="keywords">radio astronomy</keyword>, is raising serious concerns among astronomers and researchers. <h2>Starlink v2 satellites: A significant increase in radiation </h2>The second-generation Starlink satellites, known as the v2mini and v2mini Direct-to-Cell versions, are at the centre of this issue. These satellites are leaking up to 32 times more radiation than their predecessors. When first addressed in 2023, <keyword id="19905255" type="General" weightage="20" keywordseo="SpaceX" source="keywords" meta.keywordsubtype="org" meta.entityname="SpaceX" meta.hostid="261" meta.entityid="SpaceX">SpaceX</keyword> acknowledged the problem and stated it was working on a solution. However, with 6,398 satellites now in orbit, the situation has only worsened. Cees Bassa, an astronomer with the Netherlands Institute for Radio Astronomy (ASTRON), highlighted the alarming data. "Compared to the faintest astrophysical sources that we observe with LOFAR, unintended electromagnetic radiation from Starlink satellites is 10 million times brighter," says Bassa. The gap between these signals is as vast as comparing the faintest stars visible to the naked eye to the brightness of the full Moon. With SpaceX launching approximately 40 second-generation Starlink satellites weekly, the problem is intensifying rapidly. While SpaceX is currently the largest player in low-Earth orbit, they are not alone in this burgeoning satellite race. A recent study has shown that constellation satellites are leaking radio waves outside the 10.7-to-12.7 gigahertz range used for communication downlink. Even more concerning is that some of this leakage occurs in the 150.05-to-153 MHz range, a band crucial for radio astronomy. These unintentional emissions interfere with sensitive astronomical observations, posing a serious threat to the future of space exploration. <div type="Article" hostid="261" msid="113349504" title="Do we really need so many satellites?" mstype="2" mssubtype="0"></div> <h2>Understanding the impact </h2>Using the LOw Frequency ARray (LOFAR) in Europe, a network of around 20,000 radio antennas, scientists conducted detailed observations to measure these unintended emissions. They detected radiation from 97 Starlink satellites in the 110-to-188 MHz frequency range, with emissions from the v2mini versions significantly stronger than their predecessors. Currently, no regulations are in place to address this unintended electromagnetic radiation from <keyword id="23169958" type="General" weightage="20" keywordseo="satellite-constellations" source="keywords">satellite constellations</keyword>. As more satellites enter orbit, these emissions are expected to grow brighter and more disruptive. Researchers are urging the implementation of new regulations and calling on companies like SpaceX to prioritise reducing these emissions as part of their sustainable space policies. "Humanity is clearly approaching an inflexion point where we need to take action to preserve our sky as a window to explore the Universe from Earth," says engineer Federico Di Vruno of the SKA Observatory. He notes that satellite companies, including Starlink, should take steps to minimise this unintended radiation, as it aligns with their broader goals of <keyword id="23248592" type="General" weightage="20" keywordseo="sustainable-space-exploration" source="keywords">sustainable space exploration</keyword>. Radio astronomy has been instrumental in many of the technologies we take for granted today, including WiFi, GPS, and medical imaging. If radio astronomy is compromised, it could have unforeseen consequences that extend beyond the study of the cosmos. Jessica Dempsey, ASTRON’s general and scientific director, emphasises the need for collaboration between regulators and industry players. "We just need the regulators to support us, and the industry to meet us halfway. Without mitigations, very soon the only constellations we will see will be human-made." Meanwhile, SpaceX has not commented on the growing radiation issue yet. However, with increasing pressure from the scientific community, the hope is that action will be taken before it’s too late. <div type="Article" hostid="261" msid="113162328" title="Elon Musk: SpaceX to launch first Starships to Mars in two years" mstype="2" mssubtype="0"></div>

Elon Musk’s Starlink satellites are ‘leaking’ radiation into protected wavelength bands and this can indirectly impact WiFi and GPS!

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is planning a <keyword id="22964001" type="General" weightage="100" keywordseo="repairability-index" source="keywords">repairability index</keyword> for <keyword id="20016418" type="General" weightage="20" keywordseo="mobile-phones" source="keywords">mobile phones</keyword> and electronic products to address the growing <keyword id="19932462" type="General" weightage="20" keywordseo="e-waste" source="keywords">e-waste</keyword> problem and encourage manufacturers to produce more easily repairable items, officials said on Thursday. The <keyword id="20026051" type="General" weightage="20" keywordseo="Consumer-Affairs-Ministry" source="keywords" meta.keywordsubtype="org" meta.entityname="Consumer Affairs Ministry" meta.hostid="261" meta.entityid="Consumer Affairs Ministry">Consumer Affairs Ministry</keyword> is spearheading the initiative, which will provide a score on key parameters to inform consumers about the ease with which a product can be repaired, the officials said at a national workshop on the issue. Addressing the workshop, <keyword id="20003684" type="General" weightage="20" keywordseo="consumer-affairs" source="keywords">Consumer Affairs</keyword> Secretary Nidhi Khare said: "As India emerges as the third largest economy in the world, we should have a vibrant and tech-savvy repair system." She also added, "India can become a repair hub for the world." The proposed index will be similar to initiatives in other countries, such as France's repairability index. It will rate products on criteria including availability of technical documents, ease of disassembly, spare parts availability and pricing. The workshop was aimed at establishing a consensus among industry stakeholders on "key parameters for accessing and evaluating repairability index" besides promoting longevity in product design, and democratizing repair information to enhance consumer experiences in reusing the mobile and <keyword id="19896834" type="General" weightage="20" keywordseo="electronics" source="keywords">electronics</keyword> products they own. Additional Secretary Bharat Khera emphasized the need for transparent and affordable repair solutions, increased consumer awareness, and support for local repairers. Joint Secretary Anupam Mishra highlighted concerns about the lack of genuine spare parts in local markets, compatibility issues with product components, and the absence of information for consumers to repair their own devices. He also mentioned that the Repairability Index of France rates products on five criteria, while the EU has additional parameters. <keyword id="20032279" type="General" weightage="20" keywordseo="HCL-Technologies" source="keywords" meta.keywordsubtype="org" meta.entityname="HCL Technologies" meta.hostid="261" meta.entityid="HCL Technologies">HCL Technologies</keyword> Founder Ajai Chowdhry called for legislation to drive change. "Today, most products are not repairable. We need to design products which can be repaired.... Unless we create a law, things will not change," he said. The government has already launched a <keyword id="22964002" type="General" weightage="20" keywordseo="Right-to-Repair-Portal" source="keywords">Right to Repair Portal</keyword>, with 63 companies onboard, including 23 from the mobile and electronics sector. India is the third largest electronic waste producer globally after China and the US. The initiative aims to reduce e-waste, promote <keyword id="20128078" type="General" weightage="20" keywordseo="sustainable-practices" source="keywords">sustainable practices</keyword>, and create opportunities for third-party repairers in India's growing electronics market.

India plans repairability index for mobile, electronics to tackle e-waste

<keyword id="22948419" type="General" weightage="20" keywordseo="Reflect-Orbital" source="keywords" meta.keywordsubtype="org" meta.entityname="Reflect Orbital" meta.hostid="261" meta.entityid="Reflect Orbital">Reflect Orbital</keyword>, a California-based startup, has set its sights on a futuristic goal: providing "<keyword id="22948420" type="General" weightage="100" keywordseo="sunlight-on-demand" source="keywords">sunlight on demand</keyword>" using orbiting mirrors in space. The company's vision is to address one of the biggest challenges in <keyword id="19915217" type="General" weightage="20" keywordseo="solar-energy" source="keywords">solar energy</keyword> — the inability to generate power after sunset or during cloudy days — by using a fleet of <keyword id="20279522" type="General" weightage="20" keywordseo="small-satellites" source="keywords">small satellites</keyword> equipped with highly reflective <keyword id="22948421" type="General" weightage="20" keywordseo="Mylar-mirrors" source="keywords">Mylar mirrors</keyword>. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;">How the technology works</h3>Reflect Orbital plans to deploy 57 small satellites into low-Earth orbit. Each satellite will be outfitted with a 33-square-foot reflective Mylar mirror. These mirrors are designed to reflect sunlight down to Earth, targeting <keyword id="20658734" type="General" weightage="20" keywordseo="solar-farms" source="keywords">solar farms</keyword> and extending their operational hours by providing an extra 30 minutes of sunlight after sunset or before sunrise. The mirrors will focus sunlight into a concentrated beam, directed by solar farm operators using a simple interface, where users can log in, provide GPS coordinates, and request sunlight. <div type="twitter" handle="bennbuilds" handlename="bennbuilds" favoritecount="0" retweetcount="0" id="1826682383514697993"></div>The idea is to make solar energy more available when it’s most needed — not just during daylight hours, but also in the early morning and evening when electricity demand is typically higher. This could potentially increase the efficiency and profitability of <keyword id="20423867" type="General" weightage="20" keywordseo="solar-power-generation" source="keywords">solar power generation</keyword>, as energy produced during these periods can be sold at higher rates. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;">Potential challenges</h3>Despite the excitement around this technology, there are several challenges that Reflect Orbital will need to overcome. Weather conditions such as thick clouds or storms could obstruct the reflected sunlight, limiting its effectiveness. Seasonal changes that affect the angle and duration of sunlight might also present difficulties. Additionally, the potential environmental impact, including light pollution and interference with astronomical observations, has raised concerns among scientists and environmentalists. <div type="Article" hostid="261" msid="112805908" title="How will Sunita Williams’ body have changed when she returns from space in February 2025?" mstype="2" mssubtype="0"></div>Reflect Orbital is aware of these challenges and has designed the mirrors to minimise light pollution. The company has also tested its technology using a hot air balloon, which successfully simulated the satellite mirrors' effect by reflecting sunlight down to a solar farm. According to co-founder <keyword id="22948422" type="General" weightage="20" keywordseo="ben-nowack" source="keywords">Ben Nowack</keyword>, the company was able to generate "500 watts of energy per square metre" of solar panel, which is about "half the brightness of the sun." <div type="twitter" handle="bennbuilds" handlename="bennbuilds" favoritecount="0" retweetcount="0" id="1767961251186163857"></div>Reflect Orbital is still in the early stages, with plans to launch its first test satellite in 2025. Interest in the project has been strong, with over 30,000 applications already submitted by individuals and organisations eager to participate in the initial offering of "sunlight on demand." This ambitious project could mark a significant step forward in renewable energy technology if successful, providing a novel solution to the intermittent nature of solar power and helping to accelerate the transition to <keyword id="21313059" type="General" weightage="20" keywordseo="sustainable-energy-sources" source="keywords">sustainable energy sources</keyword>.

Space startup Reflect Orbital plans to sell "sunlight on demand" — how will it work?

New Delhi: India has proven the 'fallacy' of incompatibility of rapid <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword> and a democratic political system, and the continuity of government and policies give industry the confidence of <keyword id="22932843" type="General" weightage="20" keywordseo="sustained-high-growth" source="keywords">sustained high growth</keyword>, <keyword id="19909974" type="General" weightage="100" keywordseo="Maruti-Suzuki" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki" meta.hostid="261" meta.entityid="Maruti Suzuki">Maruti Suzuki</keyword> India Chairman R C Bhargava said on Tuesday. In his address to shareholders in the company's Annual General Meeting held virtually, he asserted that India's <keyword id="20442128" type="General" weightage="20" keywordseo="democratic-processes" source="keywords">democratic processes</keyword> will lead it to a sustained and more equitable society. Bhargava also said the industry and the government can work with trust and confidence with each other to achieve the goal of India becoming a developed country by 2047. "Over the years, I've heard people arguing that rapid economic development and a democratic political system are not really compatible. Our country has proved the fallacy of this line of thinking," he said. Asserting his point, Bhargava said, "We are now the fastest growing economy in the world, and our prime minister is one of the most respected global leaders." Periodically, he said, "the world has seen how deeply committed we are to the democratic processes." Referring to the recent general elections, he said it has "once again shown that hundreds of millions of people can vote in a peaceful manner and accept the results of that process." Bhargava, however, admitted that "the policies and strategies for equitable and rapid economic growth and development did take some time in being established". ".. But we did find the right path through peaceful democratic processes. This is in sharp contrast to what we have seen around us in many parts of the world and in our neighborhood," he said, without naming Bangladesh which is currently in turmoil following student-led violent protests that led to a regime change. "The continuity of the government and its policies to bring in faster economic growth with greater inclusivity and equity gives industry confidence of sustained high growth," Bhargava said. He further said industry and government can work with trust and confidence with each other to achieve the goal of India becoming a developed country by 2047. "It is the democratic processes which will lead us to a sustained and more equitable society," he said.

Continuity of government, policies give industry confidence of sustained high growth: Maruti Suzuki Chief

<keyword id="20359078" type="General" weightage="20" keywordseo="newspapers" source="keywords">Newspapers</keyword> were rated as the most <keyword id="22860926" type="General" weightage="20" keywordseo="credible-news-source" source="keywords">credible news source</keyword>, not only for older but younger <keyword id="22860927" type="General" weightage="20" keywordseo="readers" source="keywords">readers</keyword> too, according to a study by Humanify, a technology-based research platform. Older aged respondents, gave higher scores to newspapers, citing concerns around fake news and conspiracy theories on internet and social media channels, while as many as half the younger readers, (aged less than 30 years), also favoured newspapers even over channels such as TV, social media and websites as sources of news. While findings seem to underscore enduring trust in traditional media even in the digital age, the study which was conducted on Humanify's app, also showed high preference on receiving the news digitally. Of the total readers, 84.1% reporting a good preference for the digital format, also reflected by the older (&gt;30 years) readers. The top reason for preference of a digital delivery was convenience, with 93.2% scoring the digital format high on convenience. Top reasons for this were easy access to digital media, especially news consumption out of home and while commuting. Interestingly, there were also mentions around how a digital medium would be more sustainable and planet friendly than newspaper prints, reflecting an emerging concern for the planet and <keyword id="20224417" type="General" weightage="20" keywordseo="sustainable-living" source="keywords">sustainable living</keyword>. "While the preference for digital delivery is expected, it's heartening to see that legacy newspapers can still find relevance even with younger readers, by adapting to digital formats," said Geetika Kambli, Founder at Humanify. "The study was run on Humanify's app, capturing conversations by readers around their preferred reading habits, and using AI to convert this unstructured data into a research report in minutes. AI is redefining the way we experience products and express our feelings about them. If we choose to use it well, it can give us the transparency we need, around how we read and decode insights," says Geetika. The report also noted that readers appreciated <keyword id="22860929" type="General" weightage="20" keywordseo="local-news-coverage" source="keywords">local news coverage</keyword>, indicating an emerging trend towards localisation and customisation in news consumption. The study was run on a sample of randomly selected readers based in Mumbai. Respondents were approached across ages 18-50, and across genders. All readers were interviewed to confirm their readership preferences, and with their consent, their conversations around the readership experience were captured and decoded using Artificial Intelligence in the Humanify app. Humanify is an AI company that owns the research-tech platform Explorastory, a sense making AI platform that translates real human behaviour from videos, conversations and surveys, into user research reports designed for product and marketing teams, in minutes. They also note that all survey results may be subject to potential biases, despite best efforts to minimise them.

Newspapers are still the most credible news source, but readers prefer to receive news digitally, reports an AI-based research app

<ul class="summary-list"><li>General Motors CEO Mary Barra said on Tuesday that EV manufacturers face steep competition in China.</li><li>That competition comes with prices that are going "lower and lower," she said.</li></ul>General Motors CEO Mary Barra said there are so many companies trying to sell EVs in China right now that it's driving a price war that isn't sustainable.Barra made the comments at the TechCrunch Disrupt conference in San Francisco on Tuesday, responding to a question about the <a target="_blank" class="" href="https://www.businessinsider.com/china-ev-giants-innovation-ai-auto-show-european-rivals-despair-2024-10">explosion of EV sales in China</a>. More than 120 brands <a target="_blank" class="" href="https://www.businessinsider.com/china-tesla-electric-vehicle-market-dominance-competition-byd-aion-wuling-2024-4">sold EVs in China in 2023</a> compared to around 60 in the US — putting into perspective just how much competition there is for GM and other manufacturers.The <a target="_blank" class="" href="https://www.businessinsider.com/bmw-stellantis-renault-auto-giants-on-chinese-ev-competition-2024-10">EV market in the country</a> is oversaturated, Barra said Tuesday, echoing comments she's made recently. She said the EV business in the country was "shifting dramatically" — and that "lower and lower" prices being driven by such competition will become untenable."From a China perspective, EV adoption has been heavily regulatory-driven," Barra said, referring to the <a target="_blank" class="" href="https://www.businessinsider.com/china-xi-jinping-crush-tesla-elon-musk-american-ev-industry-2024-2">Chinese government's push for EV adoption</a>. "But what also has occurred is there are <a target="_blank" class="" href="https://www.businessinsider.com/china-tesla-electric-vehicle-market-dominance-competition-byd-aion-wuling-2024-4">over a hundred Chinese OEMs</a> right now, primarily focused on EVs," she said. OEMs are "original equipment manufacturers" that create parts for other businesses to use in their products.The flood of EV-focused startups pushing inexpensive vehicles in China has posed increasing challenges for <a target="_blank" class="" href="https://www.businessinsider.com/ev-sales-europe-slumping-warning-sign-us-2024-9">European and US automakers </a>in recent years."You have to look at what the sustainable business is because the situation that is there right now is not sustainable," Barra said. "Of the hundred or so companies, only less than a handful are profitable," she said. BI didn't independently verify Barra's calculations.European automakers have also struggled in the competitive China EV market. <a target="_blank" href="https://www.businessinsider.com/mercedes-benz-sliding-ev-sales-and-weak-demand-in-china-2024-10">During its third-quarter earnings call earlier this month, Mercedes-Benz reported a 31% drop</a> in sales of battery-powered cars year over year.<a target="_blank" class="" href="https://www.businessinsider.com/gm-stock-earnings-crushing-it-suvs-trucks-evs-2024-10">GM, meanwhile, outperformed</a> Wall Street's estimates and sent shares soaring more than 9% following its third-quarter earnings report. In China specifically, GM sold 14% more vehicles in the third quarter than in the second. And its "NEV" category — or new energy vehicles, which include EVs — for the first time sold more than its internal-combustion models in China, GM said.

GM CEO Mary Barra says there's so much EV competition in China that it's driving a price war that isn't sustainable

<ul class="summary-list"><li>Tesla's US market share has fallen below 50% for the first time.</li><li>While Tesla's dominance is waning, overall electric vehicle sales are growing.</li></ul>Tesla's dominance in the <a target="_blank" class="" href="https://www.businessinsider.com/electric-vehicle-misconceptions-about-the-ev-transition-market-sales-2024-5">EV market</a> is slipping, but it's not time for <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">CEO Elon Musk</a> to panic just yet.<a target="_blank" class="" href="https://www.businessinsider.com/tesla-price-range-cost">Tesla</a>'s share of US electric vehicle sales in the second quarter fell to 49.7%, marking the first time its share had fallen below 50% in a quarter, according to data from Cox Automotive. The slip followed disappointing sales results and tough first-quarter financial results.While <a target="_blank" class="" href="https://www.businessinsider.com/tesla-robotaxi-ai-event-delayed-october-report-stock-falls-2024-7">Tesla is certainly facing its share of challenges</a> right now, losing market share is a sign of something much less threatening to the company's future.It's proof that Tesla is growing into a somewhat normal car company — a status it has <a target="_blank" class="" href="https://www.businessinsider.com/tesla-elon-musk-acted-normal-this-year-it-worked-out-2023-12">worked hard to achieve</a> — and that the segment it pioneered is finally maturing."Despite Tesla's declining sales, with its EV sales share now below 50% for the first time, the overall competitive landscape for electric vehicles is intensifying," Cox Automotive Industry Insights Director Stephanie Valdez-Streaty said in the company's EV sales report. "This increased competition is leading to continued price pressure, gradually boosting EV adoption."<a target="_blank" class="" href="https://www.businessinsider.com/tesla-ev-market-share-slipping-all-depends-on-cybertruck-2023-10">Tesla's chokehold</a> on the US electric vehicle market has been waning for a few years as more companies release their own electric models. Tesla commanded about 55% of the US EV market last year, down from 65.4% in 2022 and a much higher 79.4% share back in 2020, according to data from Experian.While this share drop looks staggering, it's important to remember that Tesla had previously enjoyed virtually zero competition in the US.<h2 id="d5fb91e5-8a68-40fd-bef0-4af4038882f7">Tesla finally has solid competition</h2>Tesla's success over the last two decades has sent legacy automakers — like GM, Ford, and Volkswagen — scrambling to catch up with Musk.For the past few years, the US market has seen the release of one <a target="_blank" href="https://www.businessinsider.com/ford-mustang-mach-e-price-cuts-tesla-price-war-electric-cars-evs-2023-1">"Tesla fighter"</a> after another. Meanwhile, Tesla has continued to grow its fleet of options, while enjoying the benefits of attracting <a target="_blank" href="https://www.businessinsider.com/ev-electric-car-sales-plateau-early-adopters-competition-2023-8">wealthy early EV adopters</a> who initially dominated the segment.The result today is that EV shoppers simply have more choices. Just in the second quarter, BMW, Cadillac, Honda, and Kia all offered new entries to the market, according to Cox. Many of these models are stealing market share from Tesla simply by existing.Take <a target="_blank" class="" href="https://www.businessinsider.com/chevy-silverado-equinox-ev-flood-the-zone-competitors-pull-back-2024-5">Chevrolet</a> for example. The bowtie brand is executing its plan to flood the EV market with new releases this year, and it appears to be paying off so far.Cox credits new releases like Chevy's electric Blazer, <a target="_blank" class="" href="https://www.businessinsider.com/chevy-equinox-ev-first-drive-much-needed-electric-crossover-suv-2024-5">Equinox</a>, and Silverado with adding 21,000 EVs to the market and chipping away at Tesla's dominance.<h2 id="34a05545-bab2-4354-a3d7-8a25f3557846">Musk made the right bet on EVs</h2>Even as its market share diminishes and <a target="_blank" class="" href="https://www.businessinsider.com/tesla-sales-miss-ev-slowdown-new-wave-customers-2024-4">sales slow</a>, Tesla remains the most dominant EV company in existence.So far in 2024, Tesla is still the top seller of EVs with 304,451 deliveries through June, according to Cox. There's a seismic gap between Tesla and second-place Ford, which has sold 44,180 EVs so far this year.Overall growth in the EV segment, regardless of Tesla's decline, also <a target="_blank" class="" href="https://www.businessinsider.com/tesla-can-make-cars-cheaper-than-competitors-2024-6">proves Musk right</a> in his bet on electric vehicles more than a decade ago.The EV market is still increasing in volume and share, <a target="_blank" class="" href="https://www.businessinsider.com/automakers-over-estimated-electric-vehicle-demand-early-adopters-2023-10">just at a slower rate</a> than when the segment first took off in 2020. And Tesla is still in a good position to benefit from that growth."The growth will, at times, be very slow, as all-time horizons in the automobile business are vast, but the long-term trajectory suggests that higher volumes of EVs will continue over time," Valdez-Streaty said.

You Searched For "sustainable companies" and got 9 results

SEBI mulls measures to facilitate ease of doing business for ESG Rating Providers (ERPs)

Ira Alok Puranik

Josh Parker leads on Nvidia's sustainability efforts from water use to renewable energy.

Emma Cosgrove

Elon Musk’s Starlink satellites are ‘leaking’ radiation into protected wavelength bands and this can indirectly impact WiFi and GPS!

BI India Bureau

India plans repairability index for mobile, electronics to tackle e-waste

PTI

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