(Bloomberg) -- The shift away from cars with dirty combustion engines is running into a new hurdle: Drivers don’t want to buy used electric vehicles, and that’s undermining the market for new ones, too.Most Read from BloombergHyperloop One to Shut Down After Failing to Reinvent TransitHarvard Financial Pain Grows as Blavatnik Joins Donor RevoltVilified Zero-Day Options Blamed by Traders for S&P DeclineGiuliani Files for Bankruptcy After $148 Million Defamation LossTencent Leads $80 Billion Rout...

Tesla has acquired land in Shanghai for a megapack battery manufacturing plant with production expected to start in the fourth quarter of 2024, Chinese state media reported on Friday. Tesla paid 222.42 million yuan ($31.13 million) for use rights to a 19.7-hectare (48.7 acres) plot, a separate government statement said on Thursday. The site is near an existing Tesla plant producing Model 3 and Model Y cars...

The angular, polarizing design of the Cybertruck will help boost the Tesla brand, the electric vehicle maker's chief designer said on Thursday, adding that the pickup was no experiment. "Love it or hate it, it's a conversation starter, and it gets people talking about the brand," Tesla Chief Designer Franz von Holzhausen said at the Petersen Automotive Museum in Los Angeles, which is adding Cybertruck models to a Tesla exhibit. The long-delayed Cybertruck starts at a price of $60,990, over 50% more than what CEO Elon Musk had touted in 2019, with a smaller range than originally promised...

The company is embracing the polarizing look of its newest vehicle as a way to draw customers to the brand...