Automotive Industry
Tesla launches stripped-down standard Model 3 and Y
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Tesla introduced more affordable versions of its Model 3 and Model Y this week, reducing prices by about $5,000 in the US while cutting several features. The move aims to counter the end of the $7,500 EV tax credit and boost sales amid declining market share. Reactions have been mixed, with some praising accessibility and others criticizing the value.
CDU adopts passages from auto industry lobby group
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The Christian Democratic Union (CDU) has incorporated entire passages from a position paper by the Association of the German Automotive Industry (VDA) into its own document on electric mobility. This revelation highlights the party's close alignment with industry interests ahead of upcoming elections. Critics argue it undermines independent policymaking.
Elon Musk's views on EV subsidies validated as rivals adjust strategies
The elimination of the $7,500 Electric Vehicle Tax Credit is prompting Tesla's competitors to scale back their EV ambitions, aligning with predictions made by Tesla CEO Elon Musk. Legacy automakers like General Motors, Ford, and Stellantis are reporting financial hits and revising targets amid reduced demand. Tesla, meanwhile, maintains strong sales without heavy reliance on the subsidy.
Trump announces 25 percent tariffs on imported trucks from November
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US President Donald Trump has announced new 25 percent import tariffs on medium- and heavy-duty trucks from abroad, effective from November 1. The measure aims to protect national security and shield domestic manufacturers from unfair competition. Vehicles from Mexico will be particularly affected.
Experts warn of EV sales plunge for Rivian, Tesla, and Lucid in 2026
Experts predict a sharp decline in electric vehicle sales for Rivian, Tesla, and Lucid Group starting late 2025, driven by the end of U.S. tax credits. This could make demand 'dreadful' next year, according to research cited in The New York Times. While short-term challenges loom, long-term EV adoption remains promising.