Electric Cars News

Tesla CEO Elon Musk sold $6.9 billion worth of shares, saying the funds could be used to finance a potential Twitter deal if he loses a legal battle with the social media platform.

BorgWarner said it would buy electric-vehicle charging provider Rhombus Energy Solutions, the latest deal in the sector as sales of eco-friendly vehicles boom.

Stellantis is investing heavily in EVs and plans to produce dozens in the coming decade, but Tavares warned last month that affordable battery EVs were between five and six years away.

South Korea needs critical mineral supplies, having pledged to become a battery manufacturing powerhouse by 2030

The company also raised its sales target for electric vehicles (EVs) to up to 40% of its total global sales by 2030

The plan envisages a 14-fold increase in the number of charging stations, climbing to 1 million by 2030 from around 70,000 now. It would focus on building them in local municipalities which are currently undersupplied.

The deal allows the luxury carmaker to supply its battery partners with raw material, starting in 2026, including a qualification period, in order to rapidly scale up production of fully electric vehicles, it said in a statement.

Tesla Inc is starting Semi electric commercial truck production and PepsiCo Inc will get the first deliveries on Dec. 1, the electric vehicle maker's chief Elon Musk tweeted on Thursday.