Among the largest private biotech funding rounds this year, the financing will support global trials of an obesity shot that just succeeded in late-stage testing in China.
Among the largest private biotech funding rounds this year, the financing will support global trials of an obesity shot that just succeeded in late-stage testing in China.
Shipments from Tesla Inc. ’s Shanghai factory increased in September as China’s car market kicks off its busy sales period and automakers start their final push to meet annual targets. The carmaker shipped 90,812 units from the plant last month, up 2.8% from a year earlier, according to preliminary data released by China’s Passenger Car Association. While the figures don’t split out exports from d...
Shipments from Tesla Inc. ’s Shanghai factory increased in September as China’s car market kicks off its busy sales period and automakers start their final push to meet annual targets. The carmaker shipped 90,812 units from the plant last month, up 2.8% from a year earlier, according to preliminary data released by China’s Passenger Car Association. While the figures don’t split out exports from domestic sales, most of those vehicles will go to customers in China. That marks a reprieve from this year’s trend of declines — Tesla’s wholesale output from Shanghai has dropped in seven of nine months this year. The bumper month in China contributed to a blockbuster third quarter for Tesla, which last week reported record global deliveries as US consumers rushed to make the most of tax credits for EV purchases ahead of their expiration on Sept. 30. While it’s unclear if Tesla can continue its sales run in the US, the strong September figure in China signals confidence about demand heading into the fourth quarter, with the Golden Week holiday at the start of October acting as a barometer for the rest of the year. The Musk-led company also started deliveries of a six-seat Model Y sport utility vehicle to attract more family-minded buyers. Meanwhile, China’s best-selling car brand, rival BYD Co. , saw a year-on-year drop for its September sales — the first in more than 18 months. BYD’s deliveries for the full third quarter fell 1.3%, marking the first decline since 2020. Still, the Shenzhen-based manufacturer has outsold Tesla in the pure EV market for the past four quarters. Read More: How China Factory Frenzy Fueled Price Wars, Deflation Chinese authorities are attempting to rein in what they describe as unhealthy competition in industries from automobiles to solar panels. For the EV sector, the long-running price war that’s seen the rise of homegrown giants like BYD has also pushed smaller carmakers to the brink and squeezed margins along the supply chain, raising concern...
US auto safety regulators are investigating Tesla Inc. over incidents in which its vehicles drove through red lights and violated other traffic laws while using the company’s partial-automation software. The National Highway Traffic Safety Administration said it’s aware of 58 incidents — including instances in which Teslas drove in the wrong direction on a road — that involved the driver-assistanc...
US auto safety regulators are investigating Tesla Inc. over incidents in which its vehicles drove through red lights and violated other traffic laws while using the company’s partial-automation software. The National Highway Traffic Safety Administration said it’s aware of 58 incidents — including instances in which Teslas drove in the wrong direction on a road — that involved the driver-assistance system marketed as Full Self-Driving. The so-called preliminary evaluation involves an estimated 2.9 million vehicles, according to a filing posted on the agency’s website. Tesla didn’t immediately respond to a request for comment. The probe broadens the scrutiny of Tesla’s driver-assistance technology and adds to other investigations into the automaker’s doors , Autopilot features and whether it’s reporting crashes in a timely manner . NHTSA said last year that it was looking into whether FSD has the ability to detect and appropriately respond to fog and other reduced visibility conditions. Fatal Tesla Crash Shows Dangers of Full Self-Driving Burning Inside: Tesla Doors Can Trap People Desperate to Escape Tesla Robotaxi Incidents Draw Scrutiny From US Safety Agency Tesla Autopilot Probe Escalates as US Agency Demands Data The system known as FSD is central to Chief Executive Officer Elon Musk ’s longstanding effort to develop driverless cars. While drivers are required to constantly supervise when the system is in use, Musk has predicted that drivers in certain states will soon no longer need to pay attention when FSD is engaged. Tesla shares fell 1.4% as of 8:02 a.m. before regular trading in New York. The stock gained about 9% this year through Wednesday’s close. Several of the incidents cited in the new probe resulted in crashes and injuries, NHTSA said. None of the incidents in the scope of its current investigation involve a fatality. The regulator said it had identified six reports where a Tesla vehicle with FSD engaged “approached an intersection with a red traffi...