Tesla recalling Model X vehicles which belong to 2016 model year over power steering issue in North America

Tesla Inc is recalling 15,000 Model X SUVs in North America because of a potential issue that can lead to a loss of power steering assist which will make steering harder and increase the risk of a crash. In a statement, the National Highway Traffic Safety Administration (NHTSA) and Transport Canada stated, the aluminum bolts…

Tata Group launches electric vehicle (EV) ecosystem in India

India’s steel-to-autos conglomerate Tata Group, is making a big effort towards clean vehicles; it plans on producing electric cars and batteries, build recycling plants and set up charging stations around the country, said senior executives said on Tuesday. They went on to add, more than half a dozen companies, including Tata Chemicals, Tata Motors, Tata…

Hyundai unveils its first SUV in overseas premium push

On Wednesday, Hyundai Motor Co unveiled its first sport-utility vehicle (SUV) under its Genesis brand in a move aimed at increasing its footprint in overseas markets, said analysts. Genesis, spun off in 2015, is an initiative of Hyundai Motor Group heir-apparent Euisun Chung, is aimed at revamping Hyundai’s image as an automaker which makes cost…

Chinese EV startup Xpend raises $400 million in latest funding round

On Wednesday, Alibaba Group Holding Ltd backed Chinese electric vehicle (EV) manufacturer Xpeng stated it has raised $400 million from investors including Xiaomi Corp, to fund its growth. The fundraising comes at a time when industry watchers as well as bankers describe as an increasingly tough financing environment for Chinese EV startups who are jostling…