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Congress May Soon Hit Tesla Where It Hurts The Most | New fuel-economy rules could cripple a longstanding Tesla revenue source. Plus: BYD is squeezing out its competition, and China's not happy.
Congress' new fuel-economy rules could cripple a longstanding Tesla revenue source. Plus: BYD is squeezing out its competition, and China's not happy.
As our friends at Heatmap News(subscription required) reported Friday, a new provision in the U.S. Senate's version of Trump's signature budget bill would take penalties for violating the Corporate Average Fuel Economy (CAFE) standards down to $0. For all the Chinese government’s efforts to prevent price cuts by market leader BYD Co. from turning into a vicious spiral, analysts say a combination of weaker demand and extreme overcapacity will slice into profits at the strongest brands and force feebler competitors to fold. Negotiations took a “big step forward in the right direction of a proper resolution” when China’s Commerce Minister Wang Wentao met with European Union Trade Commissioner Maros Sefcovic in France earlier this month, according to a statement from the Chinese ministry released Saturday.
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