Electric vehicles
EU advances ‘Made in EU’ Industrial Accelerator Act; China warns of countermeasures
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The European Commission has proposed the Industrial Accelerator Act, a flagship “Made in EU” initiative that would tie parts of public procurement and support schemes to local-content and low‑carbon requirements in selected strategic sectors. China’s commerce ministry has criticized the plan as discriminatory and warned it could respond if Chinese companies’ interests are harmed.
Electric vehicle sales in the US reached more than 85,000 units in May, marking the best performance since federal tax credits ended last fall. Average transaction prices continued to decline amid high incentives from automakers.
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The Ferrari Luce, the brand's first electric vehicle, has generated heated discussion online over its design.
BYD has launched the Atto 3 EVO in Spain, the new generation of its 4.45-meter compact electric SUV. The model features the e-Platform 3.0 with rear-wheel or all-wheel drive options, and ranges exceeding 700 km in urban cycle.
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South Korea's transport ministry proposed law amendments to let EV buyers check battery makers and countries of origin. Disclosable information will expand from six to ten items, with higher fines for non-disclosure. New rules also target repeated battery defects with certification revocations.
Chinese automaker BYD has surpassed Tesla to become the world's largest seller of electric vehicles in 2025, with sales of 2.26 million units compared to Tesla's 1.64 million deliveries. Tesla's figures mark a second consecutive annual decline of 9 percent, driven by the end of U.S. tax credits and intensifying global competition. Despite the sales drop, Tesla's stock rose about 11 percent for the year amid optimism over future technologies like robotaxis.
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Only 1,300 premium taxis are in service in Hong Kong, well below the government's target of 3,500 since the fleets launched in July. Industry players blame unattractive earnings, a lack of charging facilities, and competition from ride-hailing services for the slow rollout. The Transport Department has not commented on revoking licenses for operators failing to meet minimum vehicle requirements by November.
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