Tesla Q2 deliveries may be less than 300,000 vehicles; Saudi PIF may take a stake in Aston Martin; BMW will launch a 2 billion euro share repurchase program

TeslaQ2 deliveries may fall below 300,000

Analysts expectTeslato deliver 295,078 vehicles in the second quarter, with some analysts even downgrading their forecasts to about 250,000, according to Refinitiv data, as the spread of the coronavirus hitsTesla's production and supply chain hard, well below the previous quarter's record 310,048 deliveries, marking Tesla's first sequential drop in deliveries since the first quarter of 2020.

Tesla shares plunge 35% in first half

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

Tesla's Texas factory may

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

Tesla submits Texas expansion plan

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.According to the company's documents, the expansion will be around 500,000 square feet.

GM and Ford may overtake Tesla

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

GM's deal to sell India plant to Great Wall falls apart

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

Saudi Arabian Public Investment Fund

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

Stellantis invests $24.7 million to transform Michigan engine plant

Stellantis announced it will invest $24.7 million to revamp the company's Trenton, Michigan-based engine complex.The plant on the south side of the production facility will be converted into a flexible engine line capable of producing the future 3.6-liter Pentastar V-6 engine with a displacement of 1.The plant on the north side will be closed by the end of 2022, and all 3.6-liter engines produced at the factory will be incorporated into the plant on the south side.

Electrification could 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 that make engines or other traditional auto parts will be at risk as the country transitions to electric vehicles.

Ferrari Italian factory to produce more than 15,000 cars by 2025

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

BMW to launch 2 billion euro share buyback program

On June 30, BMW said it had decided to launch a share repurchase 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 common shares and the rest 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 is meant for artificial intelligence, big data and self-driving cars.

Nicola's

On June 30, electric truck startup Nikola said it was seeking to raise capital through a new share issue, 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 a 50% vote 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, 50 percent higher than the average over the past 20 years.Of these, 60% will be electric or hybrid vehicles, and 40% will be internal combustion engine vehicles.

Apple's new version

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 China, Europe 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 will use the MEB platform and is scheduled to go on sale in 2023, 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, German inflation would soar further and hurt growth, wealth and jobs in Germany.