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Added on the 30/06/2022 17:46:53 - Copyright : France 24 EN
"Global markets are now flooded with cheaper Chinese electric cars" says European Commission president Ursula von der Leyen, "and their price is kept artificially low by huge state subsidies". The comments -- made to the European Parliament in Strasbourg -- come as Brussels announces it will investigate Chinese state subsidies for electric vehicles in order to protect the European market from "distortion." SOUNDBITE
The storied Audi R8 took its final laps last week in celebration of its 15 years in the United States and as one of the premier super cars of its time. Since its launch in the U.S. in 2008, the brand halo and pinnacle of performance for Audi achieved iconic status both on and off the track, winning the World Performance Car of the Year in 2008 and in 2016 as well as proving its authenticity on the track by winning every major endurance race around the world. The R8 continues the Audi strategy of proving its race technologies on the track and bringing those technologies to the road. That same strategy will be brought to bear as the brand shifts toward electrified performance with its entry to Formula 1 in 2026.
Tesla may be the new kid on the block in the auto industry, but it's quickly become a big kid on Wall Street. The electric-car maker's shares continued to climb more than 4% on Tuesday. This increases the company's total market value above $500 billion for the first time. The milestone comes on the heels of a banner year for Tesla's stock, says CNN. Tesla recently upgraded facility now has the capacity to build 500,000 Model Y and Model 3 sedans a year. This is in addition to 90,000 of its more expensive Model S and Model X vehicles.
Last year Tesla CEO Elon Musk predicted autonomous driving would boost his company's market capitalization to $500 billion. On Monday, Tesla's market cap soared as high as $498 billion even though Tesla is still refining its self-driving software. Business Insider reports that it has only released a beta version to a limited number of customers. Musk made the claim during an investor call in May 2019, when Tesla's market cap was less than $45 billion, CNBC reported. The Tesla chief projected in 2015 that his company's market cap could balloon to $700 billion by 2025.