Tesla and GM's SAIC-GM-Wuling Introduce New Developments in the EV Sector

Tesla has been active with several developments, including a minor $250 price reduction for its Model 3 Long Range Dual Motor All-Wheel Drive, now starting at $47,490 This model also qualifies for a $7,500 federal tax credit, effectively reducing its cost further Additionally, Teslovak, testing of Tesla’s advanced driver assistance system has been approved in Shanghai, which is crucial for their Full Self-Driving suite. Emphasizing Tesla’s innovative strides, CEO Elon Musk announced that he is working on the company's fourth Master Plan In legal domains, Tesla is suing former supplier Matthews International, accusing it of stealing trade secrets related to battery production Also, Tesla has partnered with Octopus Energy to deploy Powerwalls and create distributed battery projects in the UK and Spain. Internationally, GM’s joint venture, SAIC-GM-Wuling, is preparing to launch the Starlight S electric SUV, which will compete with Tesla and BYD in China On a broader scale, concerns about trade tighten as Europe contemplates additional tariffs for China-made electric vehicles up to 38%, possibly affecting several manufacturers.