Musk to Scale Back Political Role as Tesla's Profits Plummet
Tesla CEO Elon Musk announced plans to reduce his involvement in the Trump administration following a significant dip in the company’s profits and revenues
German luxury car maker Porsche has announced an ambitious plan to fight the market for electric cars with Tesla's dominant US company, AFP reports.
More than half the cars produced by Porsche will be electric by 2025, the German manufacturer's North American chief Klaus Zellmer said during the Los Angeles Auto Show, Economic Times reported.
"The future is electric," said Klaus Zelmer, director of the North American company, ahead of the grand opening of a major Los Angeles auto show. "By 2025, Porsche will have crossed a tipping point, actually building more than 50 per cent of its annual volume ... with either plug-in hybrid technology or fully battery," he said. However, he added, the "combustion engine of course is not dead", pointing to Porsche's popular 911 sports cars.
Porsche, which is owned by Volkswagen, unveiled its new electric Porsche Taycan model at the Frankfurt Motor Show in September. The luxury model is targeting Tesla's market share in the US.
Tesla has an especially firm grip on the US, which is Porsche's second-largest market, AFP reported.
In 2021, the German company will launch a fully electric version of its Macan SUV, which will be aimed directly at the Tesla Model Y model.
The CEO of the Sofia Commodity Exchange, Vasil Simov, dismissed speculation about any dramatic price hikes on the market
From July 1, 2025, electricity and thermal energy prices in Bulgaria are set to increase
Between 50,000 and 70,000 foreign workers may enter Bulgaria by the end of 2025 if the current pace of labor import continues
The Bulgarian online casino market has come a long way, from sudden boom, through regulation jolts, to a more recent balanced phase.
In recent weeks, Bulgaria has seen a noticeable uptick in demand for euro banknotes
The adoption of the euro in Bulgaria is not expected to cause fast loans to become more expensive
Borderless Bulgaria: How Schengen Benefits Are Transforming Trade and Logistics
Bulgaria's Mortality Rate Remains Highest in Europe