EV maker stocks have fluctuated in line with this broader market sentiment, although some responded to proprietary catalysts. EV guide Tesla, Inc. TSLA got back on track and the stock hit $180 again.
Here are some key events that took place in the EV space throughout the week:
Tesla wants to double the capacity of Giga Berlin: Tesla has submitted an initial application to the Federal Environment Agency to expand its Gigafactory in Berlin. after to the German outlet RBB. Citing an agency official, the outlet reported that the US automaker has applied to increase its annual production capacity from 500,000 vehicles to 1 million vehicles per year. The company also reportedly streamlined its planning and production process to increase production capacity without having to further increase fresh water consumption.
Volkswagen Announces Budget EV: German car manufacturer Volkswagen AG VWAGY announced its ID.2 All-Concept EV, which is priced at around $26,500 this week. The company expects to make the vehicle available in 2025. Along with the forthcoming production of the ID.2, the German company aims to launch about 10 new EV models by 2026. More importantly, Volkswagen is working on an EV priced under $21,560.
See also: The best stocks for electric vehicles
Barra meets with lawmakers: General Motor Company GM CEO Maria Barra met with the chair of the Senate Commerce Committee Senator Maria Cantwell (D-WA) and committee member Senator Gary Peters (D-MI) this week to push Congress to expedite legislation to accelerate the deployment of self-driving vehicles, Reuters reported.
About a year ago, GM and its subsidiary Cruise, applied for permission from the National Highway Traffic Safety Administration to use up to 2,500 self-driving vehicles without steering wheels, mirrors, turn signals and windshields.
Ford teases new MEB-based EV ahead of launch: Ford Motor Company f Europe teased on Twitter a new mid-size SUV based on Volkswagen’s…
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