A district court ruled that Sweden’s constitution prevented it from taking a side in a labor dispute between Tesla and local unions that has dragged on for 11 months.
Germany’s largest automaker rode a wave of strong sales for years, but lagging demand and pressure from China are forcing it to consider layoffs.
Germany’s largest automaker rode a wave of strong sales for years, but lagging demand and pressure from China are forcing it to consider layoffs.
BYD, which leads China’s electric vehicle sector, is constructing a plant in Hungary while its Chinese rivals expand through joint ventures in Europe.
The Swedish battery manufacturer said it would eliminate jobs and seek partnerships as it grapples with competition from China.
For the first time in its 87-year history, the automaker is considering shuttering factories in Germany, citing the need to remain competitive.
Tesla mechanics in Sweden have been striking for six months with little movement from their employer. Nordic shareholders hope to change that.
The tariffs have been expected for months, but many European automakers warned they will drive up prices for consumers and set off a trade war with China.
Leaders in Brussels are trying to curb China’s dominance in the industry, but European automakers fear the taxes will drive up prices and lead to a trade war.
As the share price plunges, investors wonder whether the company, led by Elon Musk, can withstand intensifying competition.