Tesla is widely expected to report its sixth consecutive quarterly profit Wednesday -- and potentially its first $1-billion quarter autonews.com/automakers-sup…
That follows a remarkable year when Tesla’s stock split and skyrocketed, the company joined the S&P 500 Index and it sold almost half a million cars
Two years ago the world’s leading electric vehicle maker was going through a rough patch
Elon Musk, Tesla’s CEO, informed employees in a January 2019 open letter that the company had to reduce headcount by -7% and boost Model 3 production rates to survive
Later that month, the CEO told analysts Tesla needed to cut costs and its vehicle prices to avoid bankruptcy
Hyundai Motor said Tuesday it will launch four electric vehicle models this year, after revealing earlier this month it is in talks with Apple and other companies to develop self-driving EVs asia.nikkei.com/Business/Autom…
South Korea's largest auto manufacturer, which reported robust fourth quarter earnings the same day, said it will add four EV models to its lineup in 2021, including one in China and another in Europe
Hyundai sold 100,000 electric cars last year, up 55% from a year ago, giving it a 5% share of the global market
"In China, we will launch the Mistra EV, and in late March, we will launch the Ioniq 5 in Europe," said Koo Zayong, a vice president at Hyundai, in an earnings call
EUROPE TARGETS 30% OF GLOBAL BATTERY CELL PRODUCTION
Europe will need to produce nearly one-third of the world’s supply of battery cells for electric vehicles by 2030 to maintain competitiveness, German Economy Minister Peter Altmaier said europe.autonews.com/suppliers/euro…
Analysts say the transition to low- and zero-emissions cars to meet EU targets will require at least 500 gigawatt-hours of cells, the building blocks of batteries, which represent the greatest economic input in an EV
That would represent at least a 10-fold increase in current European capacity
Most automakers now rely on Asia-based companies such as LG Chem, Samsung and CATL for their cells