Here are the key events that happened in the EV space during the week:
The week also saw Tesla losing a court case in Sweden against the nation’s postal service over the latter’s refusal to deliver license plates to the company’s Swedish arm.
The performance is in line with Tesla’s typical focus on domestic sales in the second half of the quarter.
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Moreover, Lucid added “Comfort & Convenience Packages” as extra-cost options for the Air Pure and Air Touring.
Nio Said To Spin-off Battery Unit: Chinese EV startup Nio, Inc. (NYSE:NIO) is mulling a spin-off of its battery manufacturing unit as part of an effort to turn profitable, a Reuters report said. The spin-off will reportedly happen as early as the end of 2023.
The company confirmed to Benzinga that the layoff impacted less than 8% of its total workforce. “While we place a very high value on the cell engineering competence we have built at Rivian, we’re focusing the team on R2 and its defined programs,” it said in a statement.
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“I believe the negative reports about the company have been overblown. We have made considerable progress on our business plan and achieved many firsts in the industry, including launching in 11 countries,” he said. “I believe the current share price does not reflect our accomplishments and our long-term opportunities,” he added.
The KraneShares Electric Vehicles and Future Mobility Index ETF (NYSE:KARS) ended Friday’s session up 0.20% at $24.46, according to Benzinga Pro data. For the week, the ETF edged down 0.69%.
Read Next: Tesla’s Next New Feature: Elon Musk Teases Cars That Can Park Themselves — No Driver Required!
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