Tesla

Geely’s Polestar to open 20 showrooms in China to compete with Tesla

People look at a Polestar 2 electric sedan displayed in a shopping mall in Shanghai, China May 5, 2020. Picture taken May 5, 2020. REUTERS/Yilei Sun

BEIJING (Reuters) – Polestar, the premium electric vehicle maker owned by China’s Geely, plans to open 20 showrooms in the mainland, as it prepares for delivery of its Polestar 2 electric sedans to compete with Tesla Inc’s locally made Model 3.

Polestar, which currently has only one showroom in Beijing, plans to have 20 in 17 Chinese cities, the automaker said in a statement on Wednesday. The Gothenburg, Sweden-based company is manufacturing cars in China’s eastern city of Taizhou.

Showroom strength is becoming an important differentiator for electric vehicle (EV) makers in the world’s biggest auto and EV market, as they line up model launches.

The automaker plans to export Polestar 2 sedans to Europe and the United States, and will open showrooms first

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Geely’s Polestar plans China showroom expansion to compete with Tesla: sources

SHANGHAI Reuters) – Polestar, the premium electric vehicle maker owned by China’s Geely, plans a big expansion of its showroom network in the mainland, sources said, as it prepares for delivery of cars to compete with Tesla Inc’s locally made Model 3.

A worker wearing a face mask following the coronavirus disease (COVID-19) outbreak cleans the floor near a Polestar 2 electric sedan displayed at a shopping mall in Shanghai, China May 5, 2020. Picture taken May 5, 2020. REUTERS/Yilei Sun

Showroom strength is becoming an important differentiator for electric vehicle (EV) makers in the world’s biggest auto and EV market, as they line up new model launches.

Polestar, which plans to deliver Polestar 2 electric sedans in China from July, currently has one showroom, in the capital Beijing. It plans to have 20 showrooms, with most of them opening in the third quarter of this year.

Unlike sales of

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Tesla cuts prices by as much as 6% in North America to boost demand

BEIJING (Reuters) – Tesla Inc (TSLA.O) has cut prices of its electric vehicles by as much as 6% in North America following a decline in auto demand in the region during weeks of lockdown that have now started to ease.

FILE PHOTO: A Tesla logo on a Model S is photographed inside of a Tesla dealership in New York, U.S., April 29, 2016. REUTERS/Lucas Jackson

Tesla also said its Supercharger quick-charging service will no longer be free to new customers of its Model S sedans and Model X sport utility vehicles (SUVs).

Auto retail sales in the United States likely halved in April from a year earlier, showed data from J.D. Power. However, sales in May are likely to improve due to pent-up demand and incentives offered by most carmakers, the analytics firm said.

Automakers including General Motors Co (GM.N), Ford Motor Co (F.N)

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Panasonic sees strong demand from Tesla, in talks to expand Nevada battery plant

TOKYO (Reuters) – Panasonic Corp’s (6752.T) finance chief said the company is seeing strong demand for battery cells from U.S. partner Tesla (TSLA.O) and they are in talks to expand their joint plant in Nevada, which is now profitable.

FILE PHOTO: The Panasonic booth is shown during the 2020 CES in Las Vegas, Nevada, U.S. January 7, 2020. REUTERS/Steve Marcus

The positive outlook comes after production troubles and delays at Tesla strained the company’s partnership with Panasonic over the past few years.

Panasonic recently lost its status as Tesla’s exclusive battery supplier, but has been able to turn around the U.S. joint battery business as demand for Tesla’s electric cars soar.

Last month Tesla reported its third consecutive quarterly profit despite the economic impact of the coronavirus pandemic, taking investors by surprise.

“We are seeing strong demand from Tesla” beyond the Nevada plant’s current capacity of

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