The cost of the intractable semiconductor shortage has ballooned by more than 90%, pushing the total hit to 2021 revenue for the world’s car makers to $210-billion.
An EV uses the same rechargeable lithium-ion batteries that are in your laptop or mobile phone, they’re just much bigger and much more expensive.
Mercedes-Benz plans to invest more than €40-billion by 2030 to be ready to take on Tesla in an all-electric car market, but warned the shift in technology would lead to job cuts.
Volkswagen of America’s purported name change to “Voltswagen” was an April Fool’s joke gone bad.
BMW has timed its shift to electric cars well and its upcoming products will upend the perception the German car maker is behind on electrification, its top executive said.
Volkswagen’s boss, Herbert Diess, is realistic about the threat posed by software-savvy and richly valued rivals such as Tesla, but he’s adamant that VW can prevail. On current form, he may be right.
Just like Samsung has an edge over Apple with its superior smartphone display, there is one area where VW may be ahead of Tesla: The German car maker has placed a big bet on next-generation lithium-ion batteries.
BMW has a message for Apple: Bring it on! Chief financial officer Nicolas Peter said he is undaunted by reports that the world’s most valuable company could enter the car business.
Volvo’s entire car line-up will be fully electric by 2030, the Chinese-owned company said on Tuesday, joining a growing number of car makers planning to phase out fossil-fuel engines by the end of this decade.
Tesla’s years-long dominance of electric car sales may soon be over as traditional car makers introduce a slew of new battery-powered models, one of its German rivals said.