[International News] Tesla's Q2 delivery may be less than 300,000 vehicles; Saudi PIF may take a stake in Aston Martin; BMW will launch a 2 billion euro share buyback program

Tesla Q2 deliveries may be less than 300,000 vehicles

Analysts expect Tesla to deliver 295,078 vehicles in the second quarter, according to Refinitiv data, with some analysts even cutting theirforecaststo about 250,000 as the spread of the coronavirus has hit Tesla's production and supply chain hard., well below the previous quarter's record 310,048 deliveries, marking Tesla's first quarter-over-quarter drop in deliveries since the first quarter of 2020.

Tesla shares plunge 35% in first half

Tesla shares plunged 35% in the first half of the year, outpacing the S&P 500's 20% drop and lost $350 billion in market value.But analysts and investors believe the slump hasn't dampened Tesla's appeal to Wall Street.

Tesla's Texas plant may

Tesla’s Texas Gigafactory is producing at least 2,000 Model Y units a week, but another Tesla insider said the plant could produce as many as 5,000 vehicles a week, according to people familiar with the matter.

Tesla files for expansion of Texas

Tesla has submitted a permit application to the city of Austin to expand the General Assembly 2 and General Assembly 3 areas of its Texas plant.The expansion will be around 500,000 square feet, according to the company's filing.

GM and Ford could surpass Tesla

Tesla's electric vehiclemarket share is expected to drop from the current 70% to 11%by 2025, while GM and Ford will overtake Tesla with about 15% each, according to the annual "Car Wars" research report.car market share.

GM's deal to sell Indian plant to Great Wall falls through

General Motors said on July 1 that it had scrapped plans to sell a closed Indian plant to China's Great Wall Motor after failing to gain regulatory approval, Reuters reported.

Saudi Arabia's Public Investment Fund

Saudi Arabia's Public Investment Fund (PIF) is in talks with Aston Martin to take a new stake in the company, which could be worth up to £200m, but talks are at an early stage, four people familiar with the matter said.Aston Martin is understood to be looking to raise more money for its next car series.

Stellantis invests $24.7 million to transform Michigan engine plant

Stellantis announced that it will invest $24.7 million in the renovation of the company's Trenton Engine Complex in Michigan.The plant on the south side of the production facility will be converted into a flexible engine line capable of producing Pentastar V-6 engines with a displacement of 3.6 liters in the future.The north side plant will close by the end of 2022, and all 3.6-liter engine production at the plant will be consolidated into the south side plant.

Electrificationcould cost the UK more than 22,000 jobs

The Society of Motor Manufacturers and Traders (SMMT) said more than 22,000 jobs in the country making engines or other traditional car parts would be at risk as the country transitions to electric vehicles.

Ferrari's Italian plant to produce morethan 15,000 carsin 2025

A dedicated production line for electric cars could help boost annual output at Ferrari's Maranello plant in Italy by more than 35 percent to more than 15,000 vehicles by 2025, compared with 11,155 in 2021, people familiar with the matter said.In the process, Ferrari will achieve higher profit margins.

BMW to launch 2 billion euro share buyback program

On June 30, BMW said it had decided to launch a share buyback program of up to 2 billion euros ($2.08 billion) in July.Of this amount, 1.85 billion euros were used for the repurchase of ordinary shares, while the remainder was used for preferred shares.The program will be completed by December 31, 2023.

Samsung starts mass production of 3nm chips

On June 30, Samsung Electronics said it had started producing chips using its latest 3-nanometer manufacturing technology.3nm technology has greater transistor density than current 5nm technology, which means higher speed and lower power consumption for advanced chips for artificial intelligence, big data and self-driving cars.

Nikola's

On June 30, electric truck startup Nikola said it was seeking to raise capital by issuing new shares, subject to shareholder approval.Nikola Chairman Stephen Girsky revealed that about 48% of Nikola's outstanding shareholders voted in favor of the proposal, but the proposal requires 50% of the votes to pass.

Analyst: 60% of new models in 2026 will be electric and hybrid

John Murphy, senior auto analyst at Bank of America Merrill Lynch, said he expects automakers to introduce about 245 new models over the next four years, an average of 61 a year, compared with the average of the past 20 years 50% higher.Of these, 60% will be electric or hybrid vehicles and 40% will be internal combustion engine vehicles.

Apple's new version of

Apple's latest version of CarPlay, expected to launch this fall, will allow users to buy gas directly from the car's screen without the usual process of inserting or tapping a credit card.

Volkswagen ID Aero targets Chinese, European and US markets

Volkswagen Group said the ID Aero all-electric sedan will be built in Germany and China and will also be sold in the United States.The ID Aero, which will use the MEB platform and is scheduled to go on sale in 2023, will be the "flagship model" of the Volkswagen brand.

Volkswagen CEO: German economy needs China

Volkswagen Group Chief Executive Herbert Diess said in an interview that without doing business with China, inflation in Germany would soar further and would hurt growth, wealth and employment in Germany.