Electric vehicle stocks fell across the board in the week ended September 23, weighed down by the Fed-induced sell-off in the market. Worried about a possible recession and the impact of a rising interest rate environment, most posted double-digit losses.
Well, here are the main events that took place in the EV space during the week:
Mixed news from Tesla: Tesla, Inc. TSLA has sent out invitations to its second AI Day, scheduled for September 30th and will be by invitation only. From which CEO Elon Musk has said of the event so far that it will be “epic”. The EV maker is likely to share more details about its fully self-driving software, Dojo supercomputer and humanoid robot Tesla Bot.
In a further development, Tesla has opened an order book for its Model Y vehicles in Taiwan, tweets from Tesla fans in the country confirmed. These vehicles would be imported from the company’s Gigafactory in Germany.
The National Highway Traffic Safety Administration ordered the initiation of a Recall of over 1 million Tesla vehicles this week due to issues with the automatic window reversing system not responding properly after detecting an obstacle. Musk dismissed the development as insignificant as the recall wasn’t physical but can be fixed through an over-the-air software update.
Tesla this week sued the California Department of Civil Rights over the impropriety involved in the agency’s racial discrimination lawsuit against the company, arguing that the investigation was not conducted on a fair and impartial basis.
The week also witnessed another setback for Tesla when one of its Megapack batteries was installed PG&E Corporation PCG at Moss Landing, Monterey, California, catched fire, resulting in a temporary shutdown of a section of Highway 1 and a sheriff-in-place order from the County Sheriff’s Office.
Ford is changing…
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