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Showing posts with the label Electric Car Industry.

News | Business | Electric Car Industry: Elon Musk says Tesla was 'about a month' from bankruptcy during Model 3 ramp

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  Lora Kolodny 3-4 minutes - Source: CNBC Tesla CEO Elon Musk talks to media as he arrives to visit the construction site of the future US electric car giant Tesla, on September 03, 2020 in Gruenheide near Berlin. Odd Andersen | AFP | Getty Images On Tuesday, Tesla CEO Elon Musk tweeted that his electric car company had been about a month away from bankruptcy in recent years when it was still figuring out how to mass produce the Model 3 electric sedan. In the middle of a discussion about Tesla’s fundraising history, a follower asked, “How close was Tesla from bankruptcy when bringing the Model 3 to mass production?” Musk replied: “Closest we got was about a month. The Model 3 ramp was extreme stress & pain for a long time — from mid-2017 to mid-2019. Production & logistics hell.” Musk has often spoken about what he calls the “production and logistics hell” of taking a new electric vehicle into high-volume manufacturin

News | Business | Electric Car Industry: Nissan faces Tesla in China's electric car market

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By Justin Harper Business Reporter 3minutos - Source: BBC Image copyright Nissan Nissan has unveiled the first of its new electric vehicles as part of a turnaround strategy for the loss-making company. The Japanese carmaker is hoping its new all-electric sports utility vehicle (SUV) Ariya will sell well in China. But it faces tough competition from Tesla which has a strong presence in the world's largest car market. Electric cars are a cornerstone of Nissan's four-year plan to get it back to profitability. The Ariya was launched online on Wednesday from the company's headquarters in Yokohama, Japan. Nissan chief executive Makoto Uchida referred to the all-electric SUV as the "flagship of the new Nissan". By 2023 Nissan plans to launch more than eight ne