This week was a whirlwind of activity in the business world, with stories ranging from Tesla Inc. launching a balance bike to Lucid Group CEO’s offensive against bankruptcy reports. Let’s dive into the top stories that made headlines.
Tesla’s Unexpected Bike Launch
Tesla’s online store, known for its unique merchandise, has added a new product to its mini Tesla section – a balance bike. The bike, which was spotted by Electrek, is currently sold out, but consumers can join an email list to be notified when more are available. The balance bike is expected to start shipping in late August.
Lucid Group CEO Fights Bankruptcy Rumors
Lucid Group’s CEO, Napoli, has refuted reports of the automaker considering bankruptcy or going private, calling them “false”. He assured that Lucid has sufficient liquidity to fund its operations well into next year and that the leadership team is focused on turning the company around. A full update is expected during its upcoming earnings call.
San Francisco Mayor Calls For Stricter Robotaxi Rules
Following a traffic chaos caused by Waymo robotaxis, San Francisco’s Mayor Lurie has called for stricter regulations on autonomous vehicles. The mayor has written to the California Secretary of Transportation, urging the implementation of stricter safety requirements.
EV Prices Fall Over 4%
The U.S. electric vehicle (EV) Average Transaction Price (ATP) saw a decline of 4.5% in June, despite the absence of Federal incentives for all-electric vehicles. The ATP for EVs in June was $56,238, marking a decline for the sixth consecutive month.
Tesla’s European Comeback Challenged By Chinese EVs
Chinese automaker Geely is making waves in the UK, surpassing 1,000 UK registrations in a single month and expecting to double that figure within months. This could pose a challenge to Tesla’s European comeback.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
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