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Foxconn Launches Electric Vehicle With 359-Mile Range
Foxconn introduced the Cavira electric vehicle through its Foxtron joint venture. BYD reported a 0.3 percent increase in global vehicle sales for May after months of decline. A Canada-China electric vehicle agreement may affect Tesla operations.
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Foxconn launched the Cavira electric vehicle under its Foxtron joint venture with Yulon Group. The vehicle offers more interior space than the Model Y Standard Rear-Wheel Drive and an estimated range of 359 miles compared with 321 miles for the competing model. The launch represents Foxconn's effort to enter the electric vehicle market directly.
BYD recorded a 0.3 percent rise in global vehicle sales for May. Overseas sales reached 160,644 units, an 80.4 percent increase from the same month last year. Domestic sales in China continued to face pressure.
A Canada-China electric vehicle agreement is under discussion. The arrangement could alter market conditions for vehicles produced by Tesla in the region. Details of the potential agreement and its timeline remain under negotiation.
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