Tesla has started delivering Model 3 electric cars built at its Shanghai factory in just under a year since it began work on the $2 billion plant, setting a record for global automakers in China, and said it would ramp up deliveries from next month.
Volkswagen is importing a batch of electric powered Golf models into Rwanda for a local ride-hailing service, establishing a bridgehead in the country that it hopes to expand to other nations as it seeks to increase market share globally.
Mercedes-Benz and Porsche are showcasing curvaceous, high-end electric sports cars at the Frankfurt auto show as part of an industry effort to counter Tesla, avert billions in European pollution fines and defuse complaints from climate activists.
A growing understanding in the car industry of the value of combustion engine technology able to meet new anti-pollution requirements is likely to fuel a wave of consolidation in the next two years, industry executives and bankers say.
Tesla did not comment on profit – which is still elusive – but the robust deliveries could help jumpstart investor sentiment on Tesla.