Tesla Earnings Miss | EV News Digest
Tesla’s stock fell significantly this week after Q2 earnings came in lower than expected, says CNBC. The company is struggling with tramatuic brand damage in Western countries and stiffening competition in China.
A new 48-charger EV ‘gigahub’ has been installed near Los Angeles’ LAX Airport, according to NBC LA. The site is one of many planned by BP Pulse and will be particularly useful for rideshare and rental car drivers.
China’s BYD will start assembling EVs in Pakistan, reports Reuters. A 25,000 annual unit plant is under construction near the commercial capital Karachi will open by mid-2026. The world’s number one EV maker is seeing significant sales growth in emerging markets.
The long-awaited “affordable” Tesla EV will simply be a stripped down version of the existing Model Y, explains Car and Driver. The move highlights the slowing pace of innovation at the EV company, which had once been developing an all-new lower cost platform.
Mercedes has claimed that solid-state batteries will be ready by the end of the decade, relays Inside EVs. New tech developed in partnership with US-based Factorial purports to offer lower cost and at least 25% more range than existing batteries.
Fast charging network Ionna has signed a deal with convenience-store chain Wawa to put charging hubs in its stores, details Utility Dive. Ionna is a consortium of eight major global automakers and claims to have now contracted over 3,000 charging stations in the US - with 20 already operating, and 400 under construction.