Electric vehicle company Tesla has managed to deliver 2,41,300 electric vehicles during the third quarter, the company has announced.
The company released its third-quarter delivery and production numbers -- confirming it achieved new records again, reports Elektrek.
According to the report, it looks like this quarter's delivery wave was successful as Tesla reported record deliveries of 2,41,300 electric cars in the third quarter of 2021.
That's a new record -- beating the previous one of 2,01,250 deliveries achieved just the previous quarter -- second quarter, the report said.
Earlier this month, Electrek reported on CEO Elon Musk telling employees in a company-wide call that "this is the craziest month of deliveries Tesla will ever have".
The CEO noted that production issues due to supply chain constraints led to Tesla delaying deliveries and its service teams having to add parts to vehicles produced earlier in the quarter.
The automaker's business model usually leads to more deliveries at the end of each quarter, but these production issues made the problem even bigger this quarter.
Just a few days ago, during the last week of the quarter, Musk said that "this will be Tesla's most intense delivery week ever".
SpaceX and Tesla CEO Elon Musk and Grimes have broken up after three years together, Page Six reported.
The SpaceX founder confirmed that he and the Canadian singer are "semi-separated" but remain on good terms and continue to co-parent their one-year-old son, the epically named X A A-Xii Musk.
"We are semi-separated but still love each other, see each other frequently and are on great terms," Musk told Page Six on Saturday.
"It's mostly that my work at SpaceX and Tesla requires me to be primarily in Texas or traveling overseas and her work is primarily in LA. She's staying with me now and Baby X is in the adjacent room," Musk said.
Page Six first revealed in May 2018 that Musk and Grimes were dating. They welcomed their son in May 2020.
They were last seen together at the Met Gala earlier this month, when Grimes, 33, walked the red carpet alone. Musk, 50, also attended the event but only joined her inside, the report said.
He later threw a starry Met Gala afterparty at hot private members club Zero Bond, where he was joined by Grimes, and the duo were photographed leaving New York together the following day.
But last weekend, Musk attended a party thrown by Google co-founder Sergey Brin's wife, Nicole Shanahan, alone.
Automobile manufacturer Ford India's decision to stop manufacturing at its two domestic plants has left employees and dealers in lurch.
Around 4,000 Ford employees in addition to another 40,000 employed with the dealerships are expected to be affected by the company's restructuring.
Besides, the development assumes significance as Ford India is the fifth biggest exit from Indian markets since 2017 after General Motors, Man Trucks, Harley Davidson and UM Lohia, apart from multiple fly-by-night EV players.
Ford has two plants in India - one near Chennai and one at Sanand, Gujarat.
It will, however, continue to provide customers in India with parts, service and warranty support. It will also expand its city-based Ford Business Solutions team and bring to the market some of its global vehicles and electrified SUVs.
"As part of the plan, Ford India will wind down vehicle assembly in Sanand by the fourth quarter of 2021 and vehicle and engine manufacturing in Chennai by the second quarter of 2022," a company statement said.
According to Ford India, the accumulated operating losses of more than $2 billion over the past 10 years and a $0.8 billion non-operating write-down of assets in 2019 have necessitated a restructuring, which is expected to create a sustainably profitable business in India.
Sales of current products such as Figo, Aspire, Freestyle, EcoSport and Endeavour will cease once the existing dealer inventories are sold out.
Ford India will begin importing and selling various models, including the Mustang coupe.
"As part of our Ford+ plan, we are taking difficult but necessary actions to deliver a sustainably profitable business in the longer term and allocate our capital to grow and create value in the right areas," Ford Motor Company President and CEO Jim Farley was quoted as saying in the statement.
"Despite investing significantly in India, Ford has accumulated more than $2 billion of operating losses over the past 10 years and demand for new vehicles has been much weaker than forecast," he added.
Ford India said it took these restructuring actions after investigating several options, including partnerships, platform sharing, contract manufacturing with other OEMs, and the possibility of selling its manufacturing plants, which is still under consideration.
"Despite these efforts, we have not been able to find a sustainable path forward to long-term profitability that includes in-country vehicle manufacturing," Ford India President and Managing Director, Anurag Mehrotra, said.
"The decision was reinforced by years of accumulated losses, persistent industry overcapacity and lack of expected growth in India's car market," he added.
"Approximately 4,000 employees are expected to be affected by the restructuring. Ford will work closely with employees, unions, suppliers, dealers, government and other stakeholders in Chennai and Sanand to develop a fair and balanced plan to mitigate the effects of the decision," Ford India said.
Ford India will maintain a smaller network of suppliers to support engine manufacturing for exports and will work closely with other suppliers to ensure a smooth wind-down of vehicle manufacturing.
"The company has decided to close down its two Indian plants. The management has not spoken to us about our future. Maybe on Monday the officials will hold talks with us," a union official, speaking on condition of anonymity, told IANS.
The Federation of Automobile Dealers Associations (FADA) said the auto retail fraternity is "shocked" to learn about Ford India's announcement.
"While trying to handle dealer anxiety, Ford India President and MD Anurag Mehrotra called me personally and assured that they will adequately compensate the dealers who continue to offer vehicle service to the customers," said Vinkesh Gulati, President, FADA.
"Though this is a good beginning, it is not enough as there are 170 dealers who in turn have 391 outlets and have invested Rs 2,000 crore for setting up their dealerships. While Ford India employs 4,000 people, the dealerships employ around 40,000 people without displacing them from their home locations," he added.
As per FADA, at present, Ford India dealers hold 1,000 vehicles which amount to Rs 150 crore via inventory funding from Indian banks.
Additionally, FADA requested the Centre to rollout a 'Franchisee Protection Act' as due to its unavailability, auto dealers are not adequately compensated like their counterparts in Mexico, Brazil, Russia, China, Indonesia, Malaysia, Japan, Italy, Australia, Sweden and many other countries, where this law exists.
Tesla aims to sell 20 million electric vehicles per year by 2030 -- from 0.5 million in 2020 -- and deploy 1,500 GWh of energy storage per year, compared to 3 GWh last year.
In its '2020 Impact Report', the Elon Musk-run EV maker said that its customers helped accelerate the world's transition to sustainable energy by avoiding 5.0 million metric tons of CO2e emissions last year.
"Our vehicles emit much less CO2 than ICE (internal combustion engine) vehicles, considering both vehicle manufacturing & electricity emissions," the company informed.
"Climate change is reaching alarming levels globally due in large part to emissions from burning fossil fuels for transportation and electricity generation. The world cannot reduce CO2 emissions without addressing both energy generation and consumption," the report mentioned.
Tesla said that usually, vehicles in the US get scrapped after approximately 200k miles but Tesla batteries are designed to outlast the vehicle
"In 2020, a Tesla with Autopilot engaged experienced 0.2 accidents per million miles driven, while the US average was 9x higher," the company added.
The EV maker said that they are designing and manufacturing a complete energy and transportation ecosystem.
"We not only develop the technology behind this ecosystem, but we also focus heavily on the affordability of our products that comprise it. We seek to achieve this through our R&D and software development efforts as well as through our continuous drive to develop advanced manufacturing capabilities," Tesla elaborated.
Tesla reported a record $1.14 billion in net income in the second quarter (Q2) 2021, stressing on its climate initiatives for a greener Earth.
"Tesla uses no Cobalt and almost none in the nickel-based chemistries. On a weighted average basis, we might use 2% Cobalt compared to say Apple's 100% Cobalt," Musk said during the earnings call.
Despite many challenges, Tesla produced and delivered over 200,000 vehicles in Q2. In the second quarter, the electric vehicle company produced 206,421 vehicles and delivered 201,250 vehicles.
Hyundai Motor said on Monday it has resumed production at one of its seven domestic plants after a four-week suspension to prepare for the production of an electric vehicle.
Hyundai halted the Asan plant from July 13 to August 6 to upgrade the facilities before it begins production of the IONIQ 6 midsize sedan later this year.
The 300,000-unit-a-year Asan plant produces the Sonata sedan and the Santa Fe SUV, reports Yonhap news agency.
In February, the maker of the Sonata sedan and the Palisade SUV unveiled the IONIQ5 all-electric model embedded with its own EV-only electric-global modular platform (E-GMP) in line with rival carmakers' electrification push.
Hyundai plans to introduce the IONIQ 6 next year and the IONIQ 7 large SUV in 2024.
It will begin using alphanumeric names like its bigger rivals, such as BMW, whose models are named Series No. 1-8.
It has seven domestic plants -- five in Ulsan, one in Asan and one in Jeonju -- and 10 overseas plants -- four in China and one each in the United States, the Czech Republic, Turkey, Russia, India and Brazil.
Their combined capacity reaches 5.5 million vehicles.
Kia, South Korea's second-biggest carmaker, on Monday launched an all-electric EV6 sedan in the domestic market ahead of its overseas launches later this year.
The EV6 is Kia's first model embedded with Hyundai Motor Group's own EV-only electric-global modular platform (E-GMP).
Kia has received over 30,000 preorders for the EV6 in the domestic market, and a combined 8,800 preorders in Europe and the United States, the company said.
The maker of the K5 sedan and the Sorento SUV aim to sell 13,000 units of the zero-emission model on its home turf and 17,000 units in overseas markets this year, reports Yonhap news agency.
The EV6 is priced at 47 million won-57 million won ($40,800-$49,500) in Korea. With government subsidies, it can be purchased for under 40 million won.
The model is available with two kinds of battery packs -- a standard 58-kilowatt-hour (kWh) battery pack and a long-range 77.4-kWh one. The 58-kWh and 77.4-kWh models can travel up to 370 kms and 475 km, respectively, on a single charge.
In April, Kia's bigger affiliate Hyundai Motor Co. launched the IONIQ 5 all-electric model equipped with the E-GMP platform.
Hyundai plans to introduce the IONIQ 6 next year and the IONIQ 7 large SUV in 2024. It will begin using alphanumeric names like its bigger rivals, such as BMW, whose models are named Series No 1-8.
Elon Musk-owned Tesla's Model S Plaid caught fire, this week, in Haverford, Pennsylvania, while the owner was at the wheel, the media reported.
The car owner's attorneys told CNBC that he noticed smoke coming from the back of his 2021 Model S Plaid and tried to unlock and open the doors but had to force his way out of the vehicle, as the locks seemed to malfunction.
After he left the car, it began to move on its own and flames engulfed it.
Tesla began deliveries of the Model S Plaid, a new high-performance version of its flagship electric sedan, in June, after the CEO had said on the Joe Rogan Experience podcast that they would begin in February.
Musk explained in April that development involved "more challenges than expected" and added, "it took quite a bit of development to ensure that the battery of the new S and X is safe."
Two crews of firefighters worked on the scene for just over three hours dealing with the emergency, Charles McGarvey, chief fire officer for the Lower Merion Township Fire Department told the publication.
As NBC News recently reported, electric vehicle battery fires can take upwards of 25,000 gallons of water to be fully extinguished.
By comparison, a typical car fire involving an internal combustion engine can be put out with around 300 gallons of water, the report said.
Recently, a Tesla car reportedly crashed and caught on fire, which led to the death of one passenger in China.
A video revealed a Tesla car being involved in a serious car accident, which has raised more concerns over the quality control issues of the US carmaker.
The video depicts the vehicle crashing and then catching on fire and even led to the death of a person.
According to a report, the electric car from the US automobile maker was seen trying to overtake a moving car from behind, after which, the car hit a concrete bridge on the side of the road.
In relief to transport sector, OMCs raised petrol prices as global cues pushed fuel prices up across the country on Friday adding to common man's misery, even as he already grapples with high food prices amid shrinking income.
But this time round, the oil companies have only increased the pump price of petrol while keeping diesel rates unchanged to limit the cascading effect of high transport fuel on prices of various other commodities.
Accordingly, the retail price of petrol increased by 35 paise per litre in the national capital on Friday to Rs 99.16 while diesel prices maintained previous days price line of Rs 89.18 a litre.
With the rise, petrol prices have reached very close to hitting the century mark all across the country extending the scope of historic high prices that had already made the fuel rate cross the Rs 100 per litre mark in certain cities and towns of Maharashtra, Madhya Pradesh, Rajasthan, Telangana, Andhra Pradesh.
The latest price rise has also brought Chennai in the list of metro cities hitting the century mark with petrol. The fuel is now priced at Rs 100.13 a litre in the city. Mumbai is the other metro city where petrol prices have crossed the century mark and reached Rs 105.24 a litre.
The price of petrol is very close to hitting century even in Delhi and Kolkata.
Across the country as well petrol prices increased on Friday but its retail prices varied depending on the level of local taxes in different states.
Sri Ganganagar in Rajasthan has highest level of fuel prices in the country. Petrol is priced there at Rs 110.40 a litre while diesel is at Rs 102.42 a litre on Friday.
With the day's price hike, fuel prices have now increased on 33 days and remained unchanged on 30 days since May 1. The 33 increases has taken up petrol prices by Rs 8.77 per litre in Delhi. Similarly, diesel have increased by Rs 8.45 per litre in the national capital.
With global crude prices also rising on a pick up demand and depleting inventories of worlds largest fuel guzzler -- the US, retail prices of fuel in India is expected to firm up further in coming days.
The benchmark Brent crude reached multi-year high level of over $76 on the Intercontinental Exchange.
Global cues pushed fuel prices to increase again across the country on Saturday, adding more misery for the common man already grappling with rising food prices amidst shrinking income.
The retail prices of both petrol and diesel rose by a sharp 35 paise per litre on Saturday to touch new high of Rs 98.11 and Rs 88.65 per litre respectively in Delhi.
With the rise, petrol price has reached very close to hitting the century mark all across the country extending the scope of historic high prices that had already made the fuel rate cross the Rs 100 per litre mark in certain cities and towns of Maharashtra, Madhya Pradesh, Rajasthan, Telangana, Andhra Pradesh.
In the city of Mumbai, where petrol prices crossed Rs 100 mark for the first time on May 29, the fuel price reached new high of Rs 104.24 per litre on Saturday. Diesel price also increased in the city to reach Rs 96.13 a litre, the highest among metros.
Across the country as well petrol and diesel prices increased on Saturday but its retail prices varied depending on the level of local taxes in different states.
Petrol prices in three other metros apart from Mumbai have also reached closer to Rs 100 per litre mark and OMC officials said that if international oil prices continue to firm up, this mark could also be breached in other places by month end.
With Saturday's price hike, fuel prices have now increased on 30 days and remained unchanged on 27 days since May 1. The 30 increases have taken up the petrol prices by Rs 7.72 per litre in Delhi. Similarly, diesel has increased by Rs 7.92 per litre in the national capital.
With global crude prices also rising on a pick up demand and depleting inventories of world's largest fuel guzzler - the US, retail prices of fuel in India are expected to firm up further in coming days. The benchmark Brent crude reached multi year high level of over $76 on ICE or Intercontinental Exchange.
Maruti Suzuki will raise prices of its vehicles during the July-September quarter due to high input costs.
In a regulatory filing, the company said that over the past year the cost of the company's vehicles continued to be adversely impacted due to increase in various input costs.
"Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price rise," it said.
The company added that the price rise has been planned in the second quarter of this fiscal and the increase shall vary for different models.
It had earlier raised prices for different car models in April.
Several vehicle makers have raised prices amid the pandemic as input costs have increased. Further, the decline in sales amid the pandemic has also impacted the industry.
However, with the situation easing across various states, restrictions are likely to ease and automakers would move back to normalising the operations.
Around 1.36 p.m., shares of the company on the BSE were at Rs 6,894.05 crore, lower by Rs 64.65 or 0.93 per cent from its previous close.
Automaker Hyundai Motor India on Friday launched premium 6- and 7-seater SUV Alcazar.
According to the company, the 7-seater petrol version's price starts at Rs 16.30 lakh, while the 6-seater SUV comes with a starting price of Rs 16.45 lakh in manual transmission and Rs 17.93 lakh for AT variant.
Besides, the 7-seater diesel version starts at Rs 16.53 lakh for MT and Rs 18.01 lakh for AT, while the 6-seater SUV comes with a starting price of Rs 16.68 lakh in manual transmission and Rs 19.78 lakh for AT variant.
"Hyundai has a diverse SUV line up in India and each model offers customers a unique proposition, catering to their aspirations and varied needs," said S.S. Kim, MD & CEO, Hyundai Motor India.
"To further fortify our portfolio, we are now entering into a new segment of 6 and 7 seater SUVs with the launch of the Hyundai Alcazar."
As per the company, Alcazar will be offered with four powertrain options - 2.0 l Petrol MPi engine (6AT or 6MT) and 1.5 l Diesel CRDi engine (6AT or 6MT).
"Delivering supreme acceleration performance across powertrains, Hyundai Alcazar with 2.0 l Petrol MPi engine (6MT) achieves an acceleration of 0-100 km per hour in 9.5 seconds."
"Further the petrol engine also offers best in segment power of 117 kW (159 PS) or 6 500 r or min. Both 2.0 l Petrol MPi engine and 1.5 l Diesel CRDi engine with 6-Speed 'Manual Transmission' and 'Automatic Transmissions' provide customers with best in segment fuel efficiency."