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French Auto Supplier Warns of Tough Times Ahead for EV Makers [BNN Bloomberg (Canada)]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
“Many of our clients are losing market share, or have volumes that are below their expectations,” Chief Executive Officer Laurent Favre said Tuesday on a media call discussing the company's first-quarter sales. European carmakers are coming under pressure as elevated borrowing costs, slow economic growth and waning subsidies weigh on EV demand in markets including Germany, Sweden and Italy. Tesla slashed prices in China, the US and Germany over the weekend after disappointing first-quarter sales. Meanwhile, Chinese brands are expanding abroad with models that often are cheaper than their local rivals. Read More: The EV Bust in Europe Is a Red Flag for Region's Climate Goals Discussions between auto suppliers and manufacturers are “very tense,” Favre said. “Some of our customers are cutting the prices of their vehicles because they are too expensive. Many of our customers have production delays.” Formerly known as Plastic Omnium, OPmobility makes car equipment such as bumpers,
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