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IKEA invests £4.5 million in EV charging infrastructure projects for last mile fleet in the UK and Ireland

Swedish furniture retailer, IKEA announced today a £4.5million investment in a nationwide electric charging infrastructure, which will provide charging points for electric delivery vehicles across the country to enable more emissions-free deliveries.

The EV infrastructure forms part of IKEAs ongoing transformation to become even more affordable, accessible, and sustainable as it aims to reach 100% zero emission deliveries to customers by 2025.

The investment marks one of the biggest EV charging... More

Tesla (TSLA) factory where employee died had safety weakness

According to several news reports Wednesday, Government inspectors have concluded that Teslas (NASDAQ: TSLA) Shanghai factory where an employee died in a Feb. 4 accident has weaknesses in its safety measures.

Investigators found that two workers in the factorys wielding workshop didnt strictly follow safety rules during a shift... More

Baidu’s (BIDU) Jidu Auto skips Shanghai auto show due to marketing plans

Yicai Global, the financial news arm of state-owned media conglomerate, Shanghai Media Group reports today, citing a source at the company, that Baidu-backed Jidu Auto is absent from the ongoing Shanghai Auto Show because the event did not fit in with the automakers product marketing plans.

The Shanghai... More

Tesla (TSLA) slides following additional U.S. price cuts

Shares of Tesla (NASDAQ: TSLA) are trading down more than 2% in pre-market trading on Wednesday after the electric vehicle company cut prices for the sixth time this year.

Tesla's website showed late on Tuesday that it cut prices of its Model Y 'long range' and 'performance' vehicles by $3000 each and of its Model 3 'rear-wheel drive' by $2,000 to $39,990.

The cuts come... More

RBC Capital cuts price target on Tesla (TSLA) as price war weighs

RBC Capital reiterated an Outperform rating on Tesla (NASDAQ: TSLA) and cut their price target on the stock to $217.00 (From $223.00) as concerns are mounting that the electric vehicle maker may need to cut prices again to remain competitive.

RBC Capitals expectations are for Teslas Automotive Gross Margins to be pressured by price cuts. TSLA made multiple price cuts during the quarter,... More

Li Auto (LI) plans to nearly triple EV line-up by 2025

Chinese electric automaker, Li Auto (NASDAQ: LI) announced Tuesday, plans for the company to expand its line-up to 11 models by 2025, up from four currently, targeting the market for vehicles priced at 200,000 yuan ($29,100) and higher.

Li Auto's president and chief engineer Ma Donghui... More

CEO William Li says Nio (NIO) 'will certainly not join the price war'

The CEO of Chinese electric automaker, Nio Inc (NYSE: NIO) told CNBC in an interview that the company will not cut prices.

For us, we will certainly not join the price war, CEO William Li said, according to a translation of the interview, claiming Nios products and services are worth the price.

Li said his company will focus on improving its customer services such as adding battery swapping and charging stations. The swapping technology that changes out batteries so that drivers dont have to wait for charging.

Nio announced last... More