Tesla in Trouble Over 'New Engine' Threatening EV Market

By Mike Fishmore | May 31, 2024

Electric vehicle

A major competitor of Tesla has introduced a plan for a new internal combustion engine, potentially intensifying competition in the electric vehicle market. 
 

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Toyota's chief executive Koji Sato explained, "In an era when the development of battery electric vehicle technology is accelerating, there is a new role we can pursue for the internal combustion engine as well."
 

Most competitive

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Last year, Elon Musk said Chinese car companies were the "most competitive" and "will have significant success outside of China, depending on what kind of tariffs or trade barriers are established."