The plugin electric vehicle market has exploded in the past year (in a good way), thanks especially to the European Union requiring that automakers sell more efficient vehicles (EVs) or pay big fines. All of a sudden, automakers have discovered that consumers will indeed buy millions of EVs if you produce them and market them well.
Supply chain issues brought on by the pandemic have been particularly challenging for the automotive sector. A global chip shortage among an onslaught of supply chain obstacles have adversely affected the entire industry. Tesla’s vertically integrated strategy proved to be very advantageous when facing these supply chain challenges.Read More
The mayor of a municipal area in the north of England called on Elon Musk to build a gigafactory for the production of electric vehicles in Tees Valley. The offer comes after the head of Tesla said that the company intends to have up to 12 factories around the world.Read More
The Senate has voted to pass the Inflation Reduction Act, which includes nearly $400 billion over 10 years in funding for climate and energy related programs, and an extension and improvement of the US electric car tax credit.Read More