California welcomes Tesla global engineering HQ

California Governor Gavin Newsom joined Tesla CEO Elon Musk this week on a tour of Tesla’s new global engineering and AI headquarters in Palo Alto. Since 2009, California has supported Tesla via tax breaks and financial incentives, though despite this, Musk moved the company’s headquarters to Austin, Texas in 2021. Now, California will remain the home of Tesla and its new global engineering and AI headquarters.

According to Newsom’s office, California is the nation’s leading ZEV market, with nearly 1.4 million ZEVs sold as of December 2022 – representing 40% of all ZEVs sold in the U.S. California also leads the nation in ZEV infrastructure, with 80,027 shared electric vehicle chargers and 63 hydrogen stations.

Newsom’s office adds that the state is home to 55 ZEV-related manufacturing companies.

BorgWarner has agreed to acquire the electric vehicle solution, smart grid and smart energy businesses of Hubei Surpass Sun Electric (SSE). The transaction has an enterprise value of up to RMB 410 million (approx. $59.36 million).

Headquartered in Xiangyang, Hubei province, China, SSE’s electrification business supplies patented electric vehicle charging solutions to customers in China and more than 70 other countries. SSE says it has delivered over 50,000 charging points and has led the engineering, procurement, and construction (EPC) of more than 250 charging station sites. SSE’s charging and electrification capabilities in China are expected to complement BorgWarner’s existing capabilities in Europe and North America, the companies say. SSE’s 2022 revenues for the electrification business are expected to be approximately RMB 180 million (approx. $26.06 million).