Monthly Archive: January 2023

Tesla, EV rivals absorb costs after China pulls plug on subsidy

China’s decision to end a more than decade-long subsidy for electric vehicle purchases has forced automakers, including Tesla, to deepen discounts to maintain sales as demand eases in the world's largest market. As China grapples with the upheaval of an upsurge in COVID-19 cases and its economy grows at the slowest pace in decades, Tesla, Xpeng and SAIC-GM-Wuling have opted to hold consumer prices flat in January. The subsidy accounted for around 3% to 6% of the cost of the best-selling electric vehicles in China last year, a Reuters analysis found.

Stellantis will build 100-mile electric aircraft for Archer

Archer Midnight electric aircraft to be manufactured with StellantisAs it prepares to launch a global lineup of electric cars and trucks, Stellantis is also planning to build a very different kind of electric vehicle. At CES in Las Vegas, the automaker announced that it will build the Archer Midnight electric aircraft, as well as provide $150 million in funding to California-based Archer Aviation in 2023 and 2024...