Tesla is getting serious about its next vehicle, the highly anticipated Model X. So serious that the company is shutting down production of the Model S sedan for two weeks at its factory in Fremont, Calif. to install new equipment.
Volkswagen AG (ADR)’s (OTCMKTS:VLKAY) luxury division, Audi, announced Saturday that it had decided to spend almost $29.3 billion (€24 billion) between 2015 and 2019 on planned investments to increase its production and car lineup. The move comes as Audi looks to make higher investments to grow in scale, increase its global footprint, and compete against the likes of BMW (OTCMKTS:BAMXY) and Mercedes-Benz in the luxury car segment.
Mercedes-AMGMercedes' high-flying AMG performance division is on top of its game these days.
The company unveiled a series of new models at the 2016 New York Auto Show in March.
They range from a C63 Cabriolet to more practical models like the E43 sedan and the GLC43 crossover SUV.
Aston Martin is getting into the all-electric luxury sedan game – big time. According to Car and Driver, Aston Martin CEO Dr. Andy Palmer said that the company's future electric super-sedan will: 1) Be based on the Rapide S 2) Arrive in about 2 years
Tesla became the hottest car company on Earth by making a very simple decision: build a sexy electric car and people will pay attention. When the Tesla Roadster first hit the streets, it was a revelation. Based on a Lotus sports car design, it was battery powered but the polar opposite of a golf cart. It was fast. It was fun. It turned heads.
Luxury car maker Porsche, which is owned by Volkswagen AG (ADR)(OTCMKTS:VLKAY) is coming up with its all electric car ‘Pajun’ sedan and is expected to pose a challenge for Tesla Motors' Model S.
The Porsche EV is expected to hit dealerships by 2018. The electric car is said to be a smaller version of its sibling, the Panamera, for which the automaker is expanding its lineup to bring out fuel efficient plug-in hybrid variants.
For its fiscal fourth quarter, Tesla Motors Inc (NASDAQ:TSLA) reported revenues and earnings that missed the Street’s estimates by some margin. Net loss per share swelled to 86 cents, up from the net loss of 13 a cents a share posted in the same quarter last year.