Tesla has reported another hefty drop in auto sales extending a difficult period amid intensifying electric vehicle competition and backlash over CEO Elon Musk's political activities. On Wednesday, the electric vehicle (EV) maker reported 384,122 deliveries in the second quarter, representing a 13.5 percent decline from this time a year ago. Its earnings report will be released after the market close. Sales were roughly in line with analyst expectations. The global sales figures reflect the more contested nature of the EV market, which Tesla once dominated, but which now also features BYD and other low-cost Chinese companies, as well as legacy Western carmakers like General Motors, Toyota and Volkswagen.

According to statistics from Shenzhen New Strategy Media's Industrial Research Institute, there were over 160 humanoid-robot manufacturers worldwide as of June 2024, of which more than 60 were in China, more than 30 in the United States, and about 40 in Europe. In addition to having the largest number of manufacturers, China stands out for the way its EV sector is backing most of these robotics companies. Thanks in part to substantial government subsidies and concerted efforts from the tech sector, China has emerged as the world's largest EV market and manufacturer. In 2024, 54% of cars sold in China were electric or hybrid, compared with 8% in the US. China also became the first nation to reach an annual production of 10 million "new energy vehicles" (NEVs), a category that includes all vehicles powered partly or entirely by electricity.

China's Xiaomi announced its first electric vehicle Thursday, predicting it is the first step toward overtaking Tesla. The SU7 will have a range of up to 500 miles, and it will compete for customers with the Tesla Model S, which has a range of 320 to 410 miles. The Chinese-made vehicle will also feature self-driving, an entertainment system that is fully compatible with Xiaomi's smartphones, and blistering acceleration that will take it from 0 to 62 miles per hour in 2.78 seconds. Pricing has yet to be announced, but CEO and co-founder Lei Jun said at the unveiling that it could be anywhere between $14,000 and $56,000 - the Model S starts at $74,990. With this move, the smartphone maker joins the ranks of other electronics companies like Apple and Foxconn that have been trying to break into the transportation business.

Artificial intelligence (AI) is rapidly evolving and becoming ubiquitous across virtually every industry. AI solutions allow organizations to achieve operational efficiencies, gain insights into customer behavior, measure key performance indicators (KPIs), and leverage the power of big data, among other things. Similarly, the electric vehicles (EV) market has gained traction in recent years. It's more common to see drivers cruising in EVs, whether a Tesla, Chevy Bolt, or Nissan Leaf. EVs are becoming popular among eco-conscious consumers because they offer more eco-friendly benefits than traditional gas-powered vehicles.

Sony first displayed an EV sedan at CES two years ago, but it said at the time it didn't necessarily plan to sell a Sony car. The initial prototype served to show off Sony's image sensors, which can be a key part of autonomous driving systems. The new Las Vegas announcement suggested Sony does plan to sell vehicles under its own brand rather than merely supplying its technology to other car makers. The company said it would establish a company called Sony Mobility Inc. in the spring. The EV market is getting increasingly crowded with Tesla Inc. leading the pack of EV-only companies competing against traditional car makers, almost all of which have announced ambitious plans to expand their EV offerings.

Since the pandemic, the World has been accelerating at an unprecedented rate. And, yet, there's irony in that it has entirely slowed down, altogether. We have been presented with a whole new dichotomy and are experiencing things we had never known before. For some, the pandemic has brought about a sense of relief. It has given them time to reflect and time to catch up.

Tesla's [TSLA] share price has continued to soar this year as it recently exceeded the $2,000 mark on 20 August, setting a new all-time high for the stock. It didn't stop there though, as Tesla's share price went on to close at $2,238.75 -- up 435.16% year-to-date -- prior to its recent share split. Following the five-for-one split, Tesla's share price suffered a dip, dropping 10% from 31 August to 2 September. However, the stock is still up 372.98% for the year to 3 September. Not only has the company gone on to surpass Toyota to become the world's most valuable car manufacturer, but Tesla's share price has a market capitalisation of $386.4bn