Tesla has had a interesting week. On one hand, Elon Musk’s electric vehicle maker drastically underperformed in terms of sales despite several efforts to turn things around, but, on the other hand, it regained its title of top EV seller after Chinese rival BYD reported a big quarter-over-quarter slowdown. But Tesla’s “nightmare” may continue, especially as Musk continues to court controversy online.
Meanwhile, EV startups Fisker and Canoo are struggling to survive in a market that’s experiencing diminished interest in electric cars. Other automakers, including BMW and EV startup Rivian, reported strong sales last quarter. Despite a solid performance, Ford Motor Co. is delaying its EV ambitions and diving headfirst into expanding its lineup of hybrid vehicles, a popular alternative to expensive electric cars.
And in China, smartphone maker Xiaomi is grappling with supersized demand for the SU7, its first-ever EV. BYD is also accelerating its steady launch of new models by revealing a “new energy” pickup truck.
