Shares of Tesla (TSLA.O) fell about 5% on Monday after key supplier Panasonic Holdings (6752.T) said it cut automotive battery production in the September quarter, cementing concerns of a global slowdown in electric-vehicle (EV) sales.
Raindrops are seen on the bonnet of a used Tesla electric car outside the showroom of a used car dealer in Manchester, Britain, October 19, 2023. REUTERS/Phil Noble/File Photosaid it cut automotive battery production in the September quarter, cementing concerns of a global slowdown in electric-vehicle sales.
"ON sells to automotive players with over 50% share of global EV sales, including 4 of the top 5 China EV makers," he said in a post on social media platform X on Monday.Onsemi CEO Hassane El-Khoury said the company's top European clients were working to clear their inventory and noted that the company sees "increasing
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla falls as production cut by battery supplier Panasonic fans EV demand fearsTesla falls as production cut by battery supplier Panasonic fans EV demand fears
Read more »
Panasonic cuts battery unit's profit outlook, warns on high-end EV salesPanasonic Holdings (6752.T), which supplies Tesla (TSLA.O), said on Monday it had cut automotive battery production in Japan in the September quarter and shrank the division's annual profit forecast by 15%, underscoring a global slowdown in EV sales.
Read more »
BYD All-Electric Car Sales Almost Passed Tesla In Q3 2023An exceptional thing happened in the third quarter of 2023, as the two largest all-electric car manufacturers (OEMs) sold a similar number of vehicles.
Read more »
BYD All-Electric Car Sales Almost Passed Tesla In Q3 2023An exceptional thing happened in the third quarter of 2023, as the two largest all-electric car manufacturers (OEMs) sold a similar number of vehicles.
Read more »
Tesla Model 3 Tops Fleet EV Charts, But Chevy Bolt Gets A Government BoostWhile Tesla outpaces its competitors in fleet sales, its presence in the commercial market doesn't mirror its dominance in the consumer sector
Read more »