China Leads a BRICS Nations Shift Into Solar Power, Report Shows
Most BRICS countries remain major fossil fuel producers, but the group together produced 51% of the world's solar energy in 2024 — up from 15% a decade earlier, energy research firm Ember said in the report. China accounted for the lion's share, and alone produced 39%, but India made up 6.3% and Brazil totalled 3.5%.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
20 minutes ago
- Bloomberg
AI Crucial to US in Cybersecurity Race Against China, Says Fmr. NatSec Official
Anne Neuberger, former deputy National Security Advisor for Cyber and Emerging Technology in the Biden administration, breaks down the Trump administration's interest in buying a 10% stake in US chip company Intel and discusses why AI is crucial to the cybersecurity race against China. (Source: Bloomberg)
Yahoo
42 minutes ago
- Yahoo
Can Tesla's New Model Y L Boost its Sales Volumes in China?
Tesla TSLA is facing a slowdown in one of its most important markets — China. The world's biggest car market is in the middle of a brutal price war, and local players are giving global names a run for their money. Once seen as the clear leader among foreign EV makers, Tesla is now under pressure from fast-rising local brands. BYD Co Ltd BYDDY has taken the lead in terms of volume, while Li Auto LI and NIO Inc. NIO are also drawing buyers rapidly. To win back some ground, Tesla has just launched the Model Y L—a stretched, six-seat version of its popular SUV made for Chinese buyers. The question is whether this new model can really give Tesla's sales the lift it needs in such a competitive market. Tesla's Sales in China Are Slipping The numbers show why this launch matters. In the second quarter of 2025, Tesla sold 128,803 EVs in China, a drop of 4.3% from the previous quarter and 11.7% from a year ago. Even with discounts and financing incentives, Tesla's sales of China-made vehicles fell again in July, reversing a short-lived uptick in June. Switch Auto Insurance and Save Today! Great Rates and Award-Winning Service The Insurance Savings You Expect Affordable Auto Insurance, Customized for You What makes this more concerning is that the declines came despite a refreshed Model Y lineup being available. Tesla had blamed weak Q1 sales on a design changeover for the Model Y, but even after production ramped back up, deliveries failed to rebound. Globally, Tesla's deliveries fell 13.5% last quarter — its sharpest quarterly decline in more than a decade. Meanwhile, BYD, Li Auto and NIO are moving in the opposite direction. BYD sold more than 600,000 BEVs in Q2'25, beating Tesla for the third straight quarter. Li Auto continues to witness strong demand for its large SUVs, while NIO's new sub-brand, ONVO, targeting families with lower-priced options, is also being received well. Tesla's Big Bet: A Bigger Model Y In China, where customer preferences lean toward larger family cars with more seating capacity, the regular five-seat version has its limits. That's where the Model Y L comes in. The 'L' stands for long wheelbase, which means more legroom and a six-seat layout. Priced at RMB 339,000 ($47,180), the Model Y L is positioned above the five-seat variants but below the RMB 400,000 many expected. Deliveries are set to begin in September. That makes three distinct Model Y variants in China— RWD five-seat priced at RMB 263,500, long-range AWD five-seat at RMB 313,500 and the six-seat Model Y L at RMB 339,000. The Model Y L is Tesla's most expensive and longest-range SUV option yet, aimed at family buyers who want space without jumping to ultra-luxury options. Peer Check: NIO and LI Aren't Sitting Still Tesla is not stepping into an empty lane with the Model Y L. The six-seat SUV space in China has quickly become one of the hottest segments. Li Auto, for example, recently launched its Li i8, a six-seat family SUV that arrives just weeks before Tesla's new model. With prices ranging from RMB 321,800 to RMB 369,800 and deliveries commencing tomorrow, Li Auto is clearly aiming to dominate this family-oriented corner of the market. NIO is also making its presence felt through its ONVO sub-brand, which introduced the L90 SUV (on July 31) at an eye-catching starting price of just RMB 179,800. That drops even lower under its battery-as-a-service plan, making it far more accessible than Tesla's premium lineup. The ONVO L90 has already drawn significant early demand, with more than 4,000 units delivered in the first 10 days. By aggressively pricing and marketing these vehicles, LI and NIO are putting real pressure on Tesla in a segment where it hopes the Model Y L can stand out. Can the Model Y L Make a Difference? The Model Y L is clearly designed to win back Chinese buyers who want more space and flexibility. Its price undercuts earlier expectations, and its timing could help Tesla tap into the family SUV boom. But the challenges remain serious. Tesla is still priced above most local alternatives, and Chinese EV makers are rolling out new models at a faster pace. So, while the Model Y L might stabilize Tesla's volumes, it's unlikely to spark a big sales rebound. The Zacks Rundown for Tesla Shares of Tesla have lost 17% year to date compared with the industry's decline of 16.4%. Image Source: Zacks Investment Research From a valuation standpoint, TSLA trades at a forward price-to-sales ratio of 10.48, way above the industry. It carries a Value Score of F. Image Source: Zacks Investment Research See how the Zacks Consensus Estimate for TSLA's earnings has been revised over the past 60 days. Image Source: Zacks Investment Research Tesla stock currently carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tesla, Inc. (TSLA) : Free Stock Analysis Report NIO Inc. (NIO) : Free Stock Analysis Report Byd Co., Ltd. (BYDDY) : Free Stock Analysis Report Li Auto Inc. Sponsored ADR (LI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
an hour ago
- Bloomberg
Navarro Reminds Modi of America's Exorbitant Privilege
Without saying anything really new, Peter Navarro has revealed something important. If India wants to keep earning dollars by selling goods and services to America, it has to recycle them as per Washington's diktats. The White House trade adviser's op-ed in the Financial Times is aimed at critics who have been shocked by the summary disdain with which President Donald Trump has alienated an ally that past administrations have spent a quarter-century cultivating. Navarro's main message: 'If India wants to be treated as a strategic partner of the US, it needs to start acting like one.'
