BYD Co. outperformed Tesla Inc. in quarterly revenue for the first time, reporting a 24% increase to $28.2 billion. The Chinese automaker’s net income also reached an all-time high of $11.6 billion, driven by strong sales of electric and plug-in hybrid vehicles. BYD’s success is attributed to resurgent domestic demand in China, supported by government…
Volvo Cars CEO Jim Rowan announced that the company will not be investing any more money into Northvolt, a struggling battery maker. Volvo Cars is looking to take over Northvolt’s stake in their joint venture, NOVO, but will need a new partner to continue plans for a gigafactory. Northvolt has been facing challenges including production…
Maruti Suzuki is set to launch the eVX electric SUV with a 4-wheel drive system in various countries like Japan, India, Europe, Africa, and the Middle East. The production will begin in India in 2025. The eVX was showcased at the Indonesia Auto Expo and will have a 60 kWh battery pack providing a range…