Italy’s competition authority is investigating BYD (BYDDF), Stellantis (STLA), Tesla (TSLA), and Volkswagen (VWAGY) for allegedly misleading consumers on the performance of their electric vehicles, Reuters reports. The investigations are based “on EV driving range, battery capacity degradation and limitations on standard battery warranties, potentially in breach of the Consumer Code,” the watchdog said, according to Reuters. Fines can range from EUR 5,000 to EUR 10M.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BYDDF:
- BYD’s Fangchengbao Hypes Smart Plug-in Hybrid as Tesla Price War Rumbles On
- Trump’s Tariffs Plan Pushes Japan’s Exposed Carmaker Stocks Lower
- China’s Geely Follows BYD into Brazil with Renault Deal
- Musk-Modi Meeting Signals Tesla’s Possible India Entry as Hiring Begins
- BYD Faces Consumer Backlash after Free Smart Driving Feature Rollout