Cancel culture comes for EVs: The Wyoming state senate’s EV ban proposal targets other states’ gas vehicle bans. It’s a political antic that puts a spotlight on challenges for the EV industry.
Steep discounts for new Teslas: New buyers in the US and Europe can benefit from discounted EVs, but the fallout from existing customers could further erode the company’s reputation.
Airbus demonstrates planes that land themselves: Autonomous flight systems like Airbus’ DragonFly can serve as assistive technology, helping pilots and crews in the short term as wider adoption paves the way to fully autonomous flight.
Carvana is paying the price for its bad bets: The online used car dealer borrowed heavily under the assumption that its pandemic-fueled growth would continue.
Tesla price discounts in China backfire: The EV maker offered discounts on new models to counter rising competition, but existing Tesla owners in China are furious and demanding rebates.
Another Consumer Electronics Show (CES) has come and gone, introducing the world to everything from a self-driving stroller to an accessible PlayStation 5 controller. It would be impossible to give a rundown of everything announced at the Las Vegas event, but here are a few things we think retailers should keep an eye on.
Tesla losing momentum in China: Faced with increasing competition, Teslas are being discounted in its biggest growth market. Shares continue to spiral while CEO Elon Musk hangs out at Twitter.
Sony’s automotive dreams take shape: The Sony Honda Mobility venture unveiled its connected car prototype, Afeela, that illustrates automotive’s high-tech future. This means new revenue streams for tech and marketers.
Tesla keeps inviting bad press: South Korea’s regulator says Tesla exaggerated its EV driving ranges. It’s the latest of many woes that could mean further loss of Tesla’s consumer appeal.
Tesla leads EV charge, but competition is around the corner: Tesla’s expansion is unparalleled, but so are its recalls and safety issues. Meanwhile, the rest of the automotive industry is slowly but steadily catching up.
Twitter’s turbulent takeover: The Twitter-Musk saga is one of the biggest stories for 2022 that will likely continue into 2023. It could strangle other Musk-owned businesses like Tesla, which Musk is using to sell stock to keep Twitter afloat.
A second life for EV battery minerals: Redwood Materials’ expansion will be pivotal for automakers who want to take advantage of federal EV tax credits. Battery reuse startups are competitors.
Tesla’s latest innovation is streaming Steam games: The feature, which converts EVs into gaming consoles, could kindle the debate on distracted driving. Meanwhile, Tesla’s market value dips below $500 billion.
Waze is the latest victim of Big Tech’s austerity: Google Maps and Waze are too similar to be separate, so Google is integrating them. This could mean dominating the mapping app segment at the cost of consumer choice.
Demand for Tesla cools in China: Competition from cheaper Chinese-made EVs could be putting a damper on Tesla adoption and hiring at the company.
Carvana and Bed Bath & Beyond teeter closer to bankruptcy: Both retailers are facing serious money problems as decisions made during the pandemic come back to haunt them.
Switzerland eyes draconian grid-saving measures: Amid a European energy crisis that’s growing dire as winter approaches, officials are considering an EV ban. Incorporating hydrogen and advanced solar is another option.
Tesla takes on the semitrailer truck market: As competition in EVs intensifies, Tesla ships its first Semi to show a diversifying product mix. Meanwhile, various recalls pile up, exposing a pattern of QA mishaps.
The stubborn failure of EV affordability: Automakers’ promises of affordable EVs haven’t met consumer expectations. Tesla’s slipping dominance illustrates market potential and the possibility for a new contender.
Just under 2% of the US population will drive an electric car next year, for a total of 5.4 million drivers, per our forecast. By contrast, more than half the population, or 151.4 million people, will drive a connected car in 2023.