Russia goes electric?

While much of Europe has seen a spike in demand for electric vehicles since the U.S.-Israeli war on Iran sent fuel prices up, drivers in Russia are opting to go electric because of actions closer to home.

As Reuters colleagues Ekaterina Maksimova and Gleb Stolyarov report, escalating Ukrainian strikes on Russian energy infrastructure have sparked a fuel crisis that has Russians rushing to buy EVs and plug-in hybrids.

You can read all about it here.

According to Autostat, the best-selling EV and hybrid brands in Russia are ‌Chinese: ⁠Geely, Dongfeng, GAC, and Chery. The top Russian-produced EV model is Evolute, which is manufactured from assembly kits supplied by Dongfeng.

Sales are rising fast, but from a low level and a dealership in Moscow told Reuters it is struggling to keep up with demand for Chinese EVs.

Meanwhile, Russians are also lining up to have their cars tweaked to run on liquefied petroleum gas (LPG) to avoid high gasoline prices and long lines at filling stations.

Ivan Espinosa wants to ditch Nissan's discount image - REUTERS/Issei Kato.

Nissan’s CEO Ivan Espinosa has set a daunting task for the Japanese automaker: ditching its reputation as a discount brand and a mainstay of rental car fleets.

As Reuters colleague Mike Colias reports, Espinosa is banking on a number of new models including a hybrid version of Nissan’s top U.S. seller Rogue compact SUV to change the company’s image and return to healthy growth.

You can read all about it here.

During the last decade Nissan pursued an aggressive growth strategy under former chairman Carlos Ghosn that involved heavy discounting, including to rental car fleets.

Though discounts bought Nissan market share, they also conditioned American car buyers to expect lower prices for the company’s cars.

Changing Nissan’s brand image in the eyes of U.S. car buyers will take time, as will rebuilding its market share – which has fallen to just over 6% from around 9% a decade ago.

Chery makes its mark in South Africa - REUTERS/Ihsaan Haffejee. 

Chery has formally taken over Nissan’s car factory in South Africa, encapsulating the rise of Chinese automakers as their traditional rivals retreat.

As Reuters colleague Nqobile Dludla reports, Chery will initially use the factory to produce the Jetour T series, including the T1, Jaecoo J5 and Chery Tiggo 4 SUVs.

You can read all about it here.

Executives say Chery will invest millions of dollars to upgrade the plant before starting production next year. During the ⁠ramp-up phase in the third and fourth quarters of 2027, the company expects to produce 15,000 vehicles.

The Chinese carmaker also plans to use 40% local ⁠content in the initial production stage and is surveying tier-1 suppliers.

The move reflects Chery’s ambitions to keep growing market share in South Africa and to use the plant as an export hub.

After several bruising reviews for its first fully electric car in May, Ferrari is going back to basics with a limited-edition 12-cylinder model with manual gearbox that will warm the hearts of its traditional petrolhead fans.

Limited to 1,499 ⁠units, the front-engined grand tourer targets loyal Ferrari customers seeking a more physical driving experience rooted in the brand's heritage.

You can read all about it here.

Ferrari's 12Cilindri Manuale starts at around $670,000 and comes just over a month after the unveiling of the fully electric Luce ‌sparked ⁠widespread criticism and a wave of unflattering social media memes, lambasting both its unconventional styling and Ferrari's embrace of electric technology.

Chinese EV maker BYD posted a second consecutive month of global sales growth in June, as a surge in exports helped offset weak demand in its home ‌market.

China’s Great Wall Motor is targeting a market share of 3% to 5% in Europe by 2030, betting on at least 10 new models in two years ranging from compact cars to large off-road vehicles, Chief Technology Officer Nicole Wu said.

Toyota will build a new $3.6 billion auto plant in Texas and shift some truck production to the United ‌States from Mexico.

Micron Technology and Ford signed a long-term agreement to secure the supply for memory and storage platforms used ‌in the automaker's next-generation vehicle production.

Uber-backed Lime's shares rose 4% in its Nasdaq debut, signaling robust investor confidence in the e-scooter and bike operator's business model and valuing the company at about $1.7 billion.

Tesla posted record-setting second-quarter delivery numbers that smashed Wall Street estimates, led by a rebound in Europe, feeding hopes that in 2026 the electric vehicle ‌maker can end its two-year streak of annual declines.

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