Business News

Tesla 

After concluding his trip to China, Tesla CEO Elon Musk stated that the Chinese government will seek to implement domestic regulations on artificial intelligence. Tesla maintains an open attitude towards granting other car manufacturers access to its Autopilot, Full Self-Driving (FSD) autonomous driving, and electric vehicle technologies.

Within the same month, Tesla officially announced that the cumulative production of 4680 battery cells at its Gigafactory in Texas, United States has exceeded 10 million.

Ford

The Ford Motor Company will receive the largest loan ever from the U.S. Department of Energy’s Loan Programs Office, totaling a whopping $9.2 billion. This financing will be utilized to construct three electric vehicle battery factories in the United States, with the aim of enhancing domestic production capacity.

Ford Motor Company has reached an agreement to sell its Saarlouis factory in Germany, with two of the three major bidders being Chinese automakers. One bid is from BYD, while the other involves several smaller-scale Chinese automotive companies.

Honda

Honda has announced that it will introduce pure electric vehicles in India within three years, and by 2040, all new cars sold globally will be replaced with EVs or fuel cell vehicles.

Toyota

Toyota has announced that it will invest an additional $2.1 billion to establish a pure electric vehicle battery factory in the United States by 2025. Furthermore, they have revealed plans to commence production of pure electric vehicles at their facility in Kentucky, located in the southern region of the country, starting from 2025.

Panasonic

According to Panasonic officials, the company plans to increase electric vehicle battery production at the joint-operated factory with Tesla in Nevada by 10% before March 2026. Additionally, Panasonic Energy Corporation will install a 15th production line at the Nevada Gigafactory.

Regional News

Saudi Arabia

In a statement, Saudi Arabia’s state news agency announced that the Saudi Arabian Investment Department has signed a $5.6 billion agreement with Chinese electric vehicle manufacturer Human Horizons to collaborate on the development, manufacturing, and sales of automobiles.

US

A group of electric vehicle charger manufacturers and operators in the United States oppose Texas’ plan to mandate the incorporation of Tesla technology into charging stations.

UK

In the UK, vehicles that emit zero emissions are eligible to display a green badge on their license plates. This badge indicates that the vehicle is emission-free and only pure electric cars and hydrogen fuel cell vehicles qualify for this identifier.

Thailand

According to data from Thailand’s Ministry of Transport’s Land Transport Department, a total of 32,450 new energy electric vehicles were registered in Thailand from January to May 2023, representing a 474.43% increase compared to the same period in 2022.