Chinese battery giant CATL reported record second-quarter revenue of 147.79 billion yuan and net profit of 22.5 billion yuan, up 56.92% and 36.5% year-on-year respectively. However, these figures slightly missed market estimates, attributed to weakening EV demand in China. The company also announced a plan to buy back up to 40 billion yuan in shares.
Apple Maps will be the official navigation system for Ford's future electric vehicles, integrating directly into the Universal Electric Vehicle (UEV) platform. This partnership, facilitated by Apple's MapKit for Automotive SDK, also supports the development of Ford's BlueCruise hands-free driving system.
China's Geely and Ford Motor announced a new manufacturing joint venture to produce electric vehicles at Ford's Valencia, Spain plant, with operations starting in 2027 and production in 2028. Ford will hold a 66% stake, Geely 34%, aiming to compete in the European EV market amidst global competition and tightening regulations.
Geely and Ford have established a joint venture to assemble multi-energy and electric vehicles at Ford's idle Almussafes factory in Valencia, Spain, with deliveries expected to start in 2028. Geely will hold 34% and Ford 66% of the venture, aiming to optimize factory utilization and secure employment.
Chinese auto-giant Geely will utilize an idle Ford factory in Almussafes, Valencia, Spain, to manufacture electric vehicles for the European market. Spanish Prime Minister Pedro Sanchez announced the deal, which allows Geely to circumvent EU tariffs on Chinese-made EVs and preserves industrial activity at the facility.
Apple introduces MapKit for Automotive, enabling direct Apple Maps integration into Ford's next-gen electric vehicles, starting with a midsize truck in 2027. This enhances navigation, EV routing, and feeds data to Ford's BlueCruise driver assistance system.
Luxury car sales in China dropped significantly last month and in the first half of the year, with brands like Mercedes-Benz and Land Rover experiencing declines as wealthy consumers increasingly favor electric vehicles due to rising crude oil prices.
Chinese EV maker BYD aims to compete with Porsche's supercars by launching its Denza-branded premium models in developed markets, signaling its growing expertise in high-end EV design and manufacturing.
China's electric vehicle industry is being examined as a potential blueprint for developing countries to foster their own domestic champions. Electrification has lowered traditional entry barriers, and China's vast supply chain offers a faster foothold for aspiring carmakers.
Options traders anticipate a significant post-earnings move for Tesla stock, implying a 5.76% swing, the largest since October 2025. Bullish call options dominate trading ahead of Wednesday's report, despite Tesla's historical muted earnings reactions, while SpaceX's upcoming earnings also weigh on investor sentiment.
Ford is overhauling its electric vehicle strategy, discontinuing models like the F-150 Lightning and taking significant financial writedowns. The company is now pivoting to focus on hybrids and a new family of low-cost EVs, including a $30,000 midsize truck by 2027, alongside leadership changes in its EV and software teams.
Xiaomi is intensifying its electric vehicle (EV) research and development, announcing a new SUV line called Sky Nomad to counter slowing domestic sales and compete with rivals like Li Auto and Xpeng. Analysts anticipate the new models will feature extended-range battery technology.
Singapore's COE premiums for cars and EVs saw a significant increase in the latest bidding exercise. Category A premiums rose 4.2% and Category B premiums jumped 6% to S$130,889, ahead of the December 31 expiry of EV adoption incentives.
Electric vehicles (EVs) are becoming more popular but cost 30% more to repair and take 14% longer than petrol cars, leading to 10-25% higher insurance premiums. Design choices like component integration and expensive batteries contribute to repair costs, often resulting in cars being written off after minor damage. Efforts are underway to make EVs easier and cheaper to repair, which could lower insurance costs.
Fiat's new Topolino EV, priced at $13,995, offers a 46-mile range and a 19mph top speed, positioning it as a micromobility vehicle rather than a traditional car. Designed for urban use and short trips, it faces challenges in the US market due to historical low sales of small cars.
BYD plans to unveil its Denza Z sports car at the UK's Goodwood Festival of Speed, featuring its DiSus body control system and blade battery packs. The move aims to attract international consumers and boost BYD's global expansion.
BYD has overtaken Tesla to become the world's largest battery-powered car manufacturer, driven by increased overseas shipments despite a recent drop in deliveries. The report also highlights China's growing adoption of electric heavy trucks.
A nearly five-hour Telstra mobile outage disrupted train lines, traffic lights, and payments across Australia. Caused by time-keeping server synchronization issues, the root cause remains unknown. Experts suggest mandating multi-carrier routing for essential services and businesses to improve resilience.
Lisbon-based EV startup Amble is launching the Amble One, a compact, retro-designed electric buggy. Aimed at resorts and as a second vehicle for short trips, it prioritizes size and simplicity over speed and range, challenging the trend of oversized vehicles.
US companies are increasingly adopting Chinese AI models due to significant cost savings compared to domestic rivals. Models from DeepSeek and Z.ai are closing the performance gap, with Chinese AI usage via OpenRouter surging from 11% to 46% weekly.
The EU's current trade disputes with China share similarities with the 1970s-80s trade conflict between Europe and Japan, particularly concerning fears of import competition undermining domestic production in sectors like autos and electronics. However, China's geopolitical status as a "systemic rival" distinguishes it from Japan, which was a political ally.
Beijing has implemented new measures, effective July 3, allowing offshore industrial players to trade lithium carbonate futures and options on the Guangzhou Futures Exchange, aiming to strengthen its control over global lithium prices and gain an advantage in the electric vehicle and energy storage sectors.
Bentley has officially named its first electric vehicle the "Torcal," continuing its tradition of naming models after natural landmarks, specifically El Torcal de Antequera in Spain. The luxury EV, which has been spotted testing in the Arctic Circle and at the Nürburgring, will be unveiled on September 23.
The UK's public EV charger installation rate has slowed to 10% in H1 2026, down from over 40% in 2024. This slowdown, driven by cost pressures and uncertainty over government sales targets like the ZEV mandate, threatens the 2030 goal of 300,000 chargers.
