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Volkswagen India accused of allegedly evading $1.4B in taxes
- Volkswagen India has been accused of allegedly evading $1.4 billion in taxes by paying less import duties on components for Audi, VW, and Skoda branded cars.
- The Indian government issued a notice to Volkswagen India about evading levies by 'mis-declaring and mis-classifying' imported car parts.
- Volkswagen imported unassembled car parts, but declared them as 'individual parts' to pay lower taxes between 5%-15% instead of 30%-35%.
- The investigation found that different shipment consignments were used to evade detection and 'willfully evade payment.'
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Teslarati
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Tesla sends out invitations for Cybercab display at Art Basel in Miami, FL
- Tesla is sending out invitations for a Cybercab showcase event at Art Basel in Miami, FL.
- The event is scheduled to take place on December 7, 2024.
- The Cybercab is Tesla's autonomous ride-hailing vehicle.
- The Cybercab features an inductive charging system for seamless operations.
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Teslarati
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Volkswagen to sell assembly plant linked to Uyghur labor in China
- Volkswagen-SAIC joint venture is selling its assembly plant in Xinjiang, China, linked to Uyghur forced labor.
- The plant has faced criticism for alleged use of forced labor in the region.
- Volkswagen and SAIC extended their joint venture agreement to continue plans for new products and align with their 'In China, for China' strategy.
- The joint venture aims to launch 18 new models in the Chinese market, including electric vehicles and plug-in hybrids.
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Evannex
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Love Your Tesla? Now You Can Own It After Your Lease Ends!
- Tesla has reintroduced the option for customers to purchase their leased vehicles at the end of the lease term.
- The new policy allows lessees to buy out their vehicles using the Tesla app, excluding customers in Iowa and Louisiana.
- The change in policy suggests a shift in Tesla's autonomous vehicle strategy, acknowledging that widespread autonomous driving might take longer than anticipated.
- The lease buyout option provides flexibility for Tesla drivers, injects more pre-owned Teslas into the market, and opens up customization opportunities.
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Teslarati
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Tesla confirms incredible Optimus hand demo was teleoperated
- A Tesla Senior Staff Software Engineer has confirmed that the remarkable new demonstration of Optimus’s new hand was teleoperated.
- The demonstration showed Optimus catching two tennis balls using its upgraded hand.
- The Senior Staff Software Engineer mentioned that catching a ball with Optimus’ previous hand was almost impossible.
- The upgrades to Optimus’ hands have been teased by Tesla, with CEO Elon Musk stating that the humanoid robot’s new hand will feature 22 degrees of freedom.
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Insider
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Elon Musk and Sylvester Stallone attended Trump's Thanksgiving dinner that's all over social media
- Elon Musk and Sylvester Stallone attended Donald Trump's Thanksgiving dinner at Mar-a-Lago in Florida.
- Musk, a vocal political supporter of Trump, has been regularly spotted at Trump's resort base and is reportedly playing a role in selecting the incoming president's cabinet picks.
- Videos circulating on social media showed Musk discussing Stallone's film 'Demolition Man' and participating in a rendition of 'YMCA,' a staple at Trump's campaign rallies.
- Mark Zuckerberg also dined with Trump at Mar-a-Lago on Thanksgiving eve.
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Insider
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Elon Musk's hunger for chips is taxing Nvidia's capacity to make them: report
- Elon Musk's demand for Nvidia chips is straining the company's supply chain.
- A sales lead for Nvidia informed colleagues in an email that Musk's demand is putting pressure on their supply chain.
- Nvidia has worked hard to meet the needs of all customers and has expanded the available supply of its chips.
- Musk has been building his own chip inventory and redirected $500 million worth of Nvidia chips from Tesla to his other ventures.
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Teslarati
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China EV tariffs in the EU are far from resolved
- Negotiations between China and the European Union (EU) regarding tariffs on Chinese electric vehicle (EV) imports are ongoing and far from being resolved.
- Last week, the chairman of the European Parliament’s trade committee stated that the EU and China were close to reaching an agreement on EV tariffs.
- However, EU officials have refuted this claim, stating that both parties are still far from reaching an agreement.
- Outside of negotiations, China has filed a complaint with the World Trade Organization (WTO) against the EU for its EV tariffs.
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Digitaltrends
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Tesla’s humanoid robot ‘got a new hand for Black Friday’
- Tesla CEO Elon Musk has shared a video of the automaker's humanoid robot, Optimus, catching a tennis ball.
- Musk envisions Optimus as a personal robot companion, similar to C-3PO and R2-D2 from Star Wars.
- The video demonstrates impressive capabilities, including rapid ball detection and grasp timing.
- Musk plans to deploy humanoid robots at Tesla factories in 2025 and make them commercially available by 2026.
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Teslarati
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Stellantis shut downs plant as it invests in EVs
- Stellantis plans to shut down its Vauxhall van factory in southern England as it invests more in EV production.
- Over 1,000 jobs are at risk due to the factory shutdown, but Stellantis argues that jobs will be relocated to its Ellesmere Port site in northern England.
- The UK government is reconsidering EV sales targets and opening consultations for Zero Emission Vehicle (ZEV) mandates.
- Automakers have expressed concerns that the ZEV mandates threaten jobs and Britain's appeal as a manufacturing hub.
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Teslarati
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Ford faces backlash from IG Metall for job cuts
- Ford is facing backlash from German union IG Metall for its plans to cut thousands of jobs in Cologne.
- Ford has announced plans to cut about 14% of its European workforce, citing weak demand for electric vehicles (EVs), poor government support, and competition from Chinese companies.
- IG Metall argues that Ford's job cuts would be the end of its Cologne factory, calling it an "incremental death".
- Around 4,000 jobs will be cut in Germany and Britain, representing 2.3% of Ford's total workforce of 174,000 in Europe.
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Teslarati
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UK reconsiders EV sales targets, listening to automakers
- The UK is reconsidering its electric vehicle (EV) sales targets after listening to automakers’ warnings.
- The Zero Emission Vehicle (ZEV) mandates will be under consultation as the UK government aims to make 80% of new cars and 70% of new vans sold in Great Britain be zero-emission vehicles by 2030.
- Automakers have raised concerns over the cost of the ZEV mandates, which could amount to $7.6 billion in 2024, threatening jobs and Britain’s appeal as a manufacturing hub.
- UK Business Minister Jonathan Reynolds blames the previous Conservative government for giving mixed policy signals, leading to a reduction in consumer confidence.
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Teslarati
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Volkswagen reevaluates ‘direct to customer’ approach
- Volkswagen Group is reevaluating its direct-to-customer approach.
- The direct-to-customer approach remains the long-term goal, but changes may be needed in the short- to mid-term.
- A joint review with wholesale and retail organizations will determine if an indirect sales model for BEVs is better.
- Results of the review are expected to be released by Q1 2025.
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Teslarati
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Lucid’s Peter Rawlinson makes Automotive News’ 2024 All-Stars
- Lucid's CEO and CTO, Peter Rawlinson, has been named one of Automotive News' 2024 All-Stars.
- Lucid distinguishes itself from other electric vehicles by achieving long-range through efficiency.
- The Lucid Air sedan holds the record for the EV with the longest range and quickest acceleration.
- Lucid hopes to replicate the success of the Air sedan with its new Gravity crossover EV.
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Teslarati
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Tesla introduces end-of-lease buyouts for Model S3XY and Cybertruck
- Tesla announces end-of-lease buyout option for Model S, Model 3, Model X, Model Y, and Cybertruck.
- Customers can initiate the buying process through the Tesla app and complete vehicle inspection.
- Ownership transfer documents will be mailed to customers after the purchase process is finalized.
- Critics speculate the move may delay Tesla's robotaxi service, while others note the potential redundancy of Model 3 and Model Y fleet with the introduction of Cybercab.
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