This week has been a rollercoaster ride in the world of electric vehicles and ride-hailing services. From Tesla Inc. TSLA recalling hundreds of thousands of vehicles to Warren Buffett-backed BYD Co BYDDF launching an affordable EV in Australia, there’s a lot to catch up on. Let’s dive into the top stories of the week.
Tesla Recalls Over 239,000 Vehicles
Tesla is recalling 239,382 vehicles in the U.S. due to concerns about the loss of rearview camera image, according to the National Highway Traffic Safety Administration (NHTSA). The issue arises from a potential short in the computer circuit board. Tesla has released a software update to address the problem and will replace affected computers free of charge. The recall includes 2024-25 Model 3 and Model S vehicles and 2023-25 Model X and Model Y.
Warren Buffett-Backed BYD Launches Affordable EV in Australia
Chinese EV company BYD, in which Warren Buffett’s Berkshire Hathaway Inc BRK holds a stake, is launching Australia’s first EV with a starting price under $30,000. This move could significantly boost Australia’s EV market. Despite selling a portion of its stake, Berkshire still owns around 4.9% of BYD, representing approximately $1.8 billion in its portfolio.
Ross Gerber Praises Tesla’s Cybertruck Amid California Wildfires
Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, lauded Tesla’s Cybertruck for its performance during the devastating wildfire in Los Angeles's Pacific Palisades neighborhood. Gerber shared his experience of how the vehicle navigated fallen trees and flooded roads, and its HEPA filter system protected him from smoke.
Uber and Lyft Revamp Robotaxi Strategy
Ride-hailing giants Uber Technologies Inc UBER and Lyft Inc LYFT are revising their robotaxi ambitions. They have restructured their businesses to accommodate competitors who have cracked the code, according to the Wall Street Journal. Under the new strategy, Uber and Lyft will earn a percentage of driverless taxi bookings while maintaining the fleet.
XPeng and Volkswagen to Build Super-Fast EV Charging Network in China
Chinese EV startup XPeng Inc. XPEV and German automaker Volkswagen AG VWAGY are planning to jointly build a super-fast charging network in China. The over 20,000 charging piles operated by the two companies across 420 cities in China will now be accessible to both players going forward.
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This story was generated using Benzinga Neuro and edited by Ananya Gairola
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