Connect with us

Published

on

An aerial view of the Tesla Fremont Factory on April 24, 2024 in Fremont, California. 

Justin Sullivan | Getty Images

A fire broke out at Tesla‘s vehicle assembly plant in Fremont, California on Monday afternoon, according to a statement from the Fremont Fire Department, posted on social network X.

No injuries were reported among employees and fire fighters present at the scene, the department said.

An undisclosed number of fire fighters had responded to the fire, which broke out before 5:00 p.m., at the Tesla facility at 45500 Fremont Boulevard. The incident was described as a two-alarm, commercial structure fire in a two-story building.

The fire apparently originated in an oven used in vehicle manufacturing operations, the department said, adding that cause of the fire was “under investigation” as of Monday evening.

The fire was “knocked down” in a matter of hours, the department said, and the fire-fighting crew had been released from the scene as of around 8 p.m.

The Fremont factory is Tesla’s first mass EV manufacturing facility. It was first to produce the company’s popular Model 3 sedans, and Model Y crossover utility vehicles, as well as its higher-end Model S sedan and Model X, an SUV with falcon wing doors.

On May 17, 2024 Tesla celebrated a milestone for its Fremont factory in conjunction with their battery factory outside of Reno, Nevada, saying they had surpassed production of 3 million vehicles.

Monday’s fire followed sweeping layoffs at the Elon Musk-led automaker. Tesla recently cut another 601 jobs in California, including 164 at the Fremont factory.

Among jobs cut in Fremont in this latest wave of the layoffs were two directors of Environmental Health and Safety (EHS), and a myriad of others involved in EHS, security, equipment maintenance and emergency services, according to filings by the company with the California Employment Development Division.

Tesla’s Fremont factory has a history of fires. For example, several fire incidents occurred at the factory from 2014 to 2018, including a mix of indoor and outdoor fires in 2018 alone, with more still in 2019 and 2021.

Fires at the Fremont factory in the past have sometimes necessitated a pause in production.

Tesla did not respond to a request for further information on Monday evening.

Local environmental regulators, the Bay Area Air Quality Management District (BAAMQD), recently accused Tesla of allowing “unabated emissions” at the Fremont plant, and said that toxic air pollution should have been prevented.

The BAAMQD is now seeking an abatement order that would force Tesla to implement changes to its factory operations to prevent further pollution.

On Monday night, the BAAMQD told CNBC via e-mail that it was “aware of the fire and assessing” the situation in Alameda County.

Continue Reading

Technology

Xiaomi delivers record cars in March as winners emerge in China’s EV race

Published

on

By

Xiaomi delivers record cars in March as winners emerge in China's EV race

A Xiaomi store in Shanghai, China, on March 16, 2025.

Qilai Shen/Bloomberg | Bloomberg | Getty Images

Chinese electric carmakers Xiaomi, Xpeng and Leapmotor each delivered nearly 30,000 or more cars in March, roughly twice several of their fellow startup competitors.

It’s a sign of how some automakers are pulling ahead, while BYD remains the market leader by far.

Xiaomi delivered a record number of electric vehicles in March, exceeding 29,000 units, the company announced on social media. That topped its prior run of delivering more than 20,000 vehicles in each of the past five months.

The SU7, Xiaomi’s flagship model, was involved in a crash on a highway on Tuesday that left three dead. The automaker on Tuesday afternoon released a statement on Chinese social media that the vehicle was in navigation on autopilot mode before the accident.

Based on preliminary information, the road was obstructed because of construction. The driver took control of the car but collided with construction infrastructure. Xiaomi added in the release that investigations were underway.

That came two weeks after the automaker announced on March 18 its goal to deliver 350,000 vehicles this year. There are also talks of the automaker expanding its second EV factory in Beijing to meet demand, Bloomberg reported on March 18. Xiaomi did not immediately respond to CNBC’s request for comment.

Its competitor Xpeng in March delivered 33,205 vehicles, the fifth consecutive month it has delivered over 30,000 units per month and reflecting a 268% surge in deliveries from the same month last year. March is also the fifth consecutive month the company has delivered over 15,000 units of the Mona M03.

Leapmotor delivered 37,095 vehicles, reflecting a 154% year-over-year growth. The Stellantis-owned automaker last month launched U.K. sales of two electric vehicle models, the T03 and the C10.

Li Auto delivered 36,674 vehicles in March, a 26.5% year-over-year increase, but fewer than every month in the second half of 2024. The company’s cars had gained early traction with Chinese consumers since most come with a fuel tank for charging the vehicle’s battery, reducing anxiety about driving range.

Tesla takes two of three top spots in China's most popular EV list

BYD sold 371,419 passenger vehicles in March, reflecting a year-over-year growth of 57.9%. Its overseas sales volume also hit a record high of 72,723 units in March.

In the same month, the automaker unveiled its “Super e-Platform” technology, which boasts 400 kilometers (roughly 249 miles) of range with five minutes of charging. The company in February also announced that it was integrating DeepSeek artificial intelligence to develop “DiPilot,” its advanced driver-assistance system.

Across the board, major companies across China’s electric car industry reported deliveries rose last month, indicating a pick-up in demand from the seasonally soft first two months of the year.

U.S. automaker Tesla sold 78,828 electric vehicles in China in March, marking a 11.5% year-over-year decline in growth.

Other Chinese carmakers saw growth in deliveries but some still struggled to break through the 20,000-unit mark.  

Nio delivered 15,039 vehicles, a 26.7% year-over-year growth, but well below the number of cars delivered in the months of May to December last year. Nio-owned Onvo, which markets its electric vehicles as family-oriented, in March recorded 15,039 units in deliveries.

Geely-owned Zeekr delivered 15,422 vehicles in March, increasing by 18.5% year over year. The company last month announced its rollout of free advanced driver-assistance technology to local customers in a bid to compete in the market.

Aito, as of April 2, has not published its delivery numbers for March. The automaker, which uses Huawei tech in its vehicles, on social media had reported monthly deliveries of 34,987 and 21,517 in January and February, respectively.

Quarterly performance

On a first-quarter basis, BYD remained in the lead with 986,098 vehicles sold. The automaker, which overtook Tesla in annual sales last year, surpassed the U.S. EV giant in battery electric vehicles sales this quarter.

Tesla sold 172,754 vehicles in China in the first quarter this year, according to monthly delivery numbers published by the China Passenger Car Association.

Xpeng also reported strong growth, with a total of 94,008 vehicles delivered in the quarter ending in March, reflecting a 331% year-over-year growth.

Leapmotor saw quarterly deliveries more than double to 87,552 units from 33,410 units the same period in 2024, according to publicly available numbers the company published.

However, Li Auto and Nio reported weaker growth than their competitors in the first quarter of the year.

Nio saw 42,094 vehicles delivered in the three months ended March 2025, an increase of 40.1% year over year. Li Auto saw a slower year-over-year growth of 15.5%, with a total of 92,864 vehicles delivered.

Continue Reading

Technology

De minimis trade loophole that boosted Chinese online retailers to end May 2

Published

on

By

De minimis trade loophole that boosted Chinese online retailers to end May 2

A driver for an independent contractor to FedEx delivers packages on Cyber Monday in New York, US, on Monday, Nov. 27, 2023.

Stephanie Keith | Bloomberg | Getty Images

President Donald Trump on Wednesday signed an executive order shutting the de minimis trade loophole, effective May 2.

Trump in February abruptly ended the de minimis trade exemption, which allows shipments worth less than $800 to enter the U.S. duty-free. The order overwhelmed U.S. Customs and Border Protection employees and caused the U.S. Postal Service to temporarily halt packages from China and Hong Kong. Within days of its announcement, Trump reversed course and delayed the cancellation of the provision.

Wednesday’s announcement, which came alongside a set of sweeping new tariffs, gives customs officials, retailers and logistics companies more time to prepare. Goods that qualify under the de minimis exemption will be subject to a duty of either 30% of their value, or $25 per item. That rate will increase to $50 per item on June 1, the White House said.

Use of the de minimis provision has exploded in recent years as shoppers flock to Chinese e-commerce companies Temu and Shein, which offer ultra-low cost apparel, electronics and other items. The U.S. Customs and Border Protection has said it processed more than 1.3 billion de minimis shipments in 2024, up from over 1 billion shipments in 2023.

Critics of the provision say it provides an unfair advantage to Chinese e-commerce companies and creates an influx of packages that are “subject to minimal documentation and inspection,” raising concerns around counterfeit and unsafe goods.

The Trump administration has sought to close the loophole over concerns that it facilitates shipments of fentanyl and other illicit substances on the claims that the packages are less likely to be inspected by customs agents.

Temu and Shein have taken steps to grow their operations in the U.S. as the de minimis loophole has come under greater scrutiny. After onboarding sellers with inventory in U.S. warehouses, Temu recently began steering shoppers to those items on its website, allowing it to speed up deliveries. Shein opened distribution centers in states including Illinois and California in 2022, and a supply chain hub in Seattle last year.

WATCH: President Trump signs executive orders for reciprocal tariffs

Pres. Trump signs executive orders for reciprocal tariffs

Continue Reading

Technology

Apple leads a drop in tech stocks after Trump tariff announcement

Published

on

By

 Apple leads a drop in tech stocks after Trump tariff announcement

Apple CEO Tim Cook, center, watches during the inauguration ceremonies for President Donald Trump, right, and Vice President JD Vance, left, in the rotunda of the U.S. Capitol in Washington, Jan. 20, 2025.

Shawn Thew | Afp | Getty Images

Apple slid more than 6% in late trading Wednesday and led a broader decline in tech stocks after President Donald Trump announced new tariffs of between 10% and 49% on imported goods.

The majority of Apple’s revenue comes from devices manufactured primarily in China and a handful of other Asian countries. Nvidia, which manufactures new chips in Taiwan and assembles its artificial intelligence systems in Mexico and elsewhere, fell about 4%, while electric vehicle company Tesla dropped 4.5%.

Across the rest of the megacap universe, Alphabet, Amazon and Meta all dropped between 2.5% and 5%, and Microsoft was down by almost 2%.

If Apple’s postmarket loss is matched in regular trading Thursday, it would be the steepest decline for the stock since September 2020.

Trump on Wednesday afternoon said the new taxes on imported goods would be a “declaration of economic independence” for the country. He announced a 10% blanket tariff on all imports, and higher duties for specific countries, including 34% for China, 20% for European nations, and 24% for Japanese imports, based on what tariffs they charge on U.S. exports, Trump said.

“We will supercharge our domestic industrial base, we will pry open foreign markets and break down foreign trade barriers,” Trump said during his speech. “Ultimately, more production at home will mean stronger competition and lower prices for consumers.”

Stocks broadly got hit by Trump’s announcements. An exchange-traded fund tracking the S&P 500 slid 2.8%, while an ETF following the Nasdaq 100 lost more than 3%.

During his speech, Trump praised Apple, Meta, and Nvidia for spending money and investing in the United States.

“Apple is going to spend $500 billion, they never spent money like that here,” Trump said. “They’re going to build their plants here.”

The Nasdaq just wrapped up its worst quarter since 2022, dropping 10% in the first three months of the year, though the tech-heavy index rose in each of the first two days of the second quarter.

WATCH: President Trump signs executive orders for reciprocal tariffs

Pres. Trump signs executive orders for reciprocal tariffs

Continue Reading

Trending