The author traveled in business class on Canada’s Via Rail train from Toronto to Montreal.
Joey Hadden/Business Insider
I booked a business-class ticket on a Via Rail Canada train from Toronto to Montreal in 2022.
For $200, I sat in a business-class seat with two tables and complimentary meal and drink service.
I thought it was nicer than most US trains I’ve been on, and I’d gladly ride again.
In the past four years, I’ve spent nearly 200 hours traveling 5,500 miles on trains, from 30-hour overnight rides to quick, three-hour journeys.
I’ve taken trains in the US from the Northeast to the Southwest, into the Canadian provinces of Ontario and Quebec, and between the European countries of Austria, France, Germany, Italy, and Switzerland. Along the way, I’ve tried out a wide range of seating options, from business and first classes to shared bunks and private cabins.
In August of 2022, I spent six hours traveling in business class from Toronto to Montreal on Via Rail, Canada’s main railroad system. It was my first time using Via Rail, and I was surprised by all the business-class offerings, from comfy seats to snacks and meals.
It was better than my business-class Amtrak experiences in the US — and totally worth the $200 ticket.
Similar to Amtrak, Via Rail is one of the most accessible and popular ways to travel by train in Canada.
A Via Rail train at Union Station in Toronto.
Joey Hadden/Business Insider
ViaRail serves more than 400 stations in eight provinces across Canada, with economy seating, business class, and sleeper accommodations.
My journey began at Toronto’s Union Station on a cloudy, late-summer morning.
Union Station on a cloudy morning.
Joey Hadden/Business Insider
I arrived at 7 a.m. for my 8:30 a.m. train to Montreal.
I arrived early because my business-class ticket included access to an exclusive lounge at the station with plenty of seating and free refreshments.
A look at the refreshments offered in the lounge.
Joey Hadden/Business Insider
Via Rail’s lounges are available to passengers traveling in business class, sleeper plus, prestige, and VIA Rail Premier members traveling in economy.
Amtrak has lounges at select stations, too, but they’re only free to access for first-class passengers.
The lounge was mostly empty on a Friday morning.
A look inside the lounge.
Joey Hadden/Business Insider
I thought it was a quiet and peaceful place to enjoy a coffee and get some work done.
Around 8 a.m., I made my way to the track where my train was boarding.
People wait in line to board the train.
Joey Hadden/Business Insider
My business-class ticket came with priority boarding, so I was able to skip a long line of passengers.
When I got to my assigned single seat, I was surprised to find a side table and a tray table that pulled out in front of me.
The author’s seat on the train.
Joey Hadden/Business Insider
No train I’ve ever been on in the US has offered two tables per passenger.
Throughout the trip, I used the side table to hold my coffee while working and to store my laptop while taking work breaks. Beneath the side table, a conveniently placed outlet charged my devices.
Right away, I thought my Via Rail seat was one of the most comfortable I’d ever experienced on a train.
Seats in Via Rail’s business class.
Joey Hadden/Business Insider
The Toronto Star reported that Via Rail business-class seats are 18.5 inches wide with a 39-inch seat pitch.
An Amtrak representative told BI that its business-class seats are about an inch wider than Via Rail’s, with an additional three inches of legroom, but I don’t think they’re nearly as comfortable.
Unlike Amtrak seats I’ve sat in, the top of my Via Rail seat was curved, so I was able to rest my head in a comfortable position for lounging.
The author relaxes in business class.
Joey Hadden/Business Insider
The seats reclined, too, just like in the US. This made them even more comfortable.
I also noticed that, unlike on my rides with Amtrak, Via Rail’s seat back compartments held a safety pamphlet.
An emergency plan for evacuating the train.
Joey Hadden/Business Insider
Like every flight I’ve ever taken, there were directions for what to do in an emergency situation. I found this comforting.
The train started moving right on time at 8:32 a.m.
The author enjoys a coffee while taking notes.
Joey Hadden/Business Insider
Shortly after leaving, a train attendant came around with a complimentary drink service. I ordered a coffee.
Then, it was time for breakfast. Unlike Amtrak’s business-class fares, Via Rail’s ticket comes with complimentary meals brought to your seat.
The author’s breakfast.
Joey Hadden/Business Insider
The train served a warm bagel with cream cheese. It was no New York bagel, I thought, but it was decent and filled me up.
An hour later, an attendant returned with savory snack packs filled with nuts, pretzels, and crackers.
A salty snack on the train.
Joey Hadden/Business Insider
Then, train attendants came around again with warm hand wipes before lunch service, which I thought was a nice touch.
Lunch was another business-class perk. The menu was announced over the loudspeaker. The entrée choices were trout, chicken, or pasta.
The author’s meal.
Joey Hadden/Business Insider
I went with the pasta. It was a rigatoni dish with sides of corn salad, bread, and carrot bread for dessert. The meal was better than I expected, with an al dente cook on the pasta. I also thought it was much better than the pasta I’ve tried on Amtrak trains.
After lunch, I went to the bathroom and was impressed by how clean it was compared to most train bathrooms I’ve used.
The author uses the bathroom on the train.
Joey Hadden/Business Insider
I often find overflowing trash cans in train bathrooms, but VIA Rail’s looked like it was cleaned recently.
Due to some delays at stops along the way, the train arrived in Montreal about an hour later than scheduled at 2:30 p.m.
The inside of the business-class train car.
Joey Hadden/Business Insider
While I thought this was frustrating, at least I was comfortable.
Even though we were late, I found business-class train travel more comfortable and pleasant in Canada than in the US.
The author enjoys her carrot bread on the train.
Joey Hadden/Business Insider
This 6-hour business-class ride cost $200, while a 10-hour Amtrak business-class ride booked around the same time cost $163. Although it was more expensive, I think the Via Rail ride was worth the additional cost since I found it to be so comfortable.
Tesla electric vehicles outside the company’s Shanghai gigafactory.
Zhang Hengwei/China News Service via Getty Images
Tesla stock was upgraded to ‘Overweight’ by Cantor Fitzgerald amid its sharp decline.
Analyst Andres Sheppard cites Tesla’s future projects like its Robotaxi and autonomous vehicles as growth drivers.
Sheppard maintains a $425 price target, seeing 81% upside potential from the stock’s current levels.
It’s been a tough few months for Tesla, but even with the stock down 52% from its record high in mid-December, one analyst on Wall Street still sees the sharp correction as an opportunity.
Analysts at Cantor Fitzgerald led by Andres Sheppard upgraded the stock to”Overweight” from “Neutral” in a note on Wednesday, arguing that the recent share price decline represented an “attractive entry point” for investors.
“We believe the recent selloff represents an attractive entry point for investors with >12-month investment horizon (and who are comfortable with volatility,” Sheppard wrote.
He listed seven material catalysts that he sees boosting the stock in the long term. Those include:
“The introduction of Robotaxi segment (June 2025).”
“Rollout of FSD in China (started in 1Q25).” FSD refers to Tesla’s Full Self-Driving software package, which costs $8,000 per vehicle.
“Rollout of FSD in Europe (we expect 1H25 pending regulatory approval.”
“Introduction of lower-priced vehicle in 1H25 (we expect initial price of ~$30,000 inclusive of tax credit.”
“High volume production of Optimus Bot (2026).”
“Initial deliveries of Optimus to customers (we expect 4Q26E/1H26).”
“Introduction of Semi Truck.” The firm said it expects the truck to start production in the second half of this year or early 2026.
Sheppard wrote that his bullishness on Tesla was crystallized after he visited the company’s Gigafactory and AI data centers in Austin, Texas.
While the analyst does see headwinds for Tesla’s vehicle sales in the first quarter, noting CEO Elon Musk’s “polarizing politics,” he predicted future revenue upside from the company’s other endeavors, including self-driving vehicles and its energy storage business.
Regarding Tesla’s self-driving ambitions, Sheppard believes they can quickly take market share once they launch a network of Cybercabs, which is expected to begin in June in Austin.
“Waymo’s vehicles have reported >25M cumulative autonomous miles driven on public roadways as of 12/2024,” the analyst wrote. “Tesla on the other hand, has reported >3B cumulative autonomous miles driven (on supervised Full Self Driving).”
Sheppard also said that Tesla should benefit from the Trump administration’s plans to establish a regulatory framework for self-driving vehicles in the US.
Sheppard maintained his $425 price target for Tesla, representing a potential upside of 81% from current levels. Shares of the EV maker jumped about 4% on Wednesday to $235.01.
A website was created in an effort to dox Tesla owners and DOGE employees.
David Ryder/Getty Images
A website exposed personal information of Tesla owners and DOGE employees.
Several of the owners on the site sold their Teslas, and some also said the information was inaccurate.
The site aimed to protest against Elon Musk and the White House DOGE office.
Michael Bryant got a weird text from an unknown number on Tuesday afternoon, naming the street where he lived and ending with, “This is exactly why you should’ve never gotten a Tesla bro.”But Bryant sold his Tesla years ago.
Like many other current or former Tesla owners across the country, Bryant’s information — name, address, email, phone number, social media account — was listed on a website “doxxing,” or publicly exposing the private information of, Tesla owners and DOGE employees.
The site displayed a digital map with a Molotov cocktail cursor, revealing the locations of Tesla charging stations and dealerships when users hovered over icons. 404 Media first reported its existence.
Late Tuesday afternoon, the website showed an error and was fully inaccessible as of Wednesday morning. It wasn’t immediately clear who created the website or if that person took it down.
Business Insider spoke to eight individuals whose information was listed on the site. BI verified both their car ownership and sale, when applicable. Several sources requested anonymity to prevent further harassment. Representatives for Tesla did not immediately respond to BI’s request for comment.
Three of the people BI spoke with had already sold their cars. (The doxxing site said that those who wanted their information removed needed to email “proof” that they’d sold their vehicle.)
Some of the personal information on the site, like addresses and phone numbers, was outdated, too. One Tesla owner told BI that he hadn’t lived at the address listed for more than 20 years; another said he hadn’t used the posted phone number since before he bought his car. The source of the data isn’t clear.
The website is the latest in a series of protests against Tesla and its billionaire CEO, some of which have led to vandalized dealerships and destructed vehicles. Tesla owners have been a key target amid a growing movement against Musk, with some reporting harassment, road rage, and crude drawings on their vehicles. On Tuesday night, Attorney General Pam Bondi described the attacks at dealerships as “domestic terrorism” and said the Justice Department had charged multiple suspects.
Regardless of their politics, the people BI spoke with didn’t see that online doxxing as an effective form of protest against Elon Musk and the White House DOGE office. Bryant said in an email that he was “livid” about the text he received, which BI has seen screenshots of, and is “not going to be intimidated by this mob!”
“I think it’s irresponsible and extra-judicial punishment for people that have nothing to do with what is going on in Washington,” Victor Vescovo, who has owned a Tesla since 2016 and supports DOGE’s mission, told BI on the phone.
Another, who said he’s trying to sell his vehicle, said in a message that he supports “whatever civil disobedience people take out on Tesla, the company, but it’s upsetting to see people glorifying violence against owners.” He said he used to be proud of his car, but now doesn’t want to be associated with the brand.
“I think it’s an example of the crazy times we live in,” a person who bought their car in 2021 said about the site. “The fact that somebody thought that this is a good idea, that it may move the needle in some sort of positive way, is concerning to me.”
One owner who sold their Tesla after the election said they agree with the website’s sentiment, “but not the methods.” The owner said while they are in a financial position to sell their vehicle, they have sympathy for others who cannot afford to do the same.
Musk has spoken out about the recent vandalism in posts on X and addressed it in an interview with Fox News on Tuesday.
“I always thought that the left, you know, Democrats were supposed to be the party of empathy, the party of caring, and yet they’re burning down cars, they’re firebombing dealerships, they’re firing bullets into dealerships, they’re smashing up Teslas,” he said.
Most of the people BI spoke to were spooked by the site and had questions about where the data came from and who accessed it, but were not fearful for their safety. Vescovo was blunter; he said he might contact lawyers but isn’t too worried about his vehicle being targeted.
“Not in Texas,” he said. “It’s a pretty heavily armed state, and people are a little bit more careful about what they do here.”
The DOJ charged suspects involved in Tesla attacks, calling them “domestic terrorism.”
Tesla facilities faced new arson and shootings this week, including in Las Vegas on Tuesday.
Elon Musk said Tesla “just makes electric cars and has done nothing to deserve these evil attacks.”
The Department of Justice is pursuing perpetrators of attacks against Tesla property, calling them “nothing short of domestic terrorism,” as more incidents were reported this week.
Attorney General Pam Bondi said in a short statement on Tuesday night that the DoJ had charged multiple suspects, including some with crimes that carry mandatory minimum sentences of five years.
“We will continue investigations that impose severe consequences on those involved in these attacks, including those operating behind the scenes to coordinate and fund these crimes,” she said.
No details of the individuals charged were given.
The statement came as more Tesla facilities were targeted on Monday and Tuesday.
Las Vegas police said in a Tuesday briefing that at least five Teslas were destroyed after a suspect set cars on fire and fired at least three rounds on a Tesla store on Badura Avenue early Tuesday in what they called a “targeted attack.” The word “resist” was spray-painted across the storefront, police added.
Tesla CEO Elon Musk said in an X post on Tuesday night, “This level of violence is insane and deeply wrong. Tesla just makes electric cars and has done nothing to deserve these evil attacks.”
On Tuesday evening, FBI Kansas City said it was working with Kansas City Police to investigate an incident in which Tesla Cybertrucks were damaged at a Tesla deader. Two Cybertrucks caught fire, the Kansas City Star reported.
The latest incidents follow others targeting Tesla facilities over the past two months across the US, including in Massachusetts, Maryland, Colorado, and Oregon.
Tesla has also faced protests abroad from the UK activist group Led By Donkeys. It used a Tesla to draw a slogan reading “Don’t buy a Tesla” on a beach in Wales and projected videos of Musk’s controversial gesture at a Trump rally in late January on Tesla’s factory in Berlin.
Protesters drew ‘Don’t buy a Tesla’ on a beach in Black Rock Sands, Wales.
Led By Donkeys
Another activist group called Everyone Hates Elon has been running paid-for advertisements on bus stops in London this month.
Following last week’s spate of vandalism against Elon Musk’s EV company, President Donald Trump vowed to label such attacks as domestic terrorism.
The unrest comes as Musk’s DOGE cost-cutting efforts have sparked a backlash against his EV maker.
Some Tesla owners have vowed to sell their cars, some citing Musk’s work directing DOGE’s layoffs, his gesture at the Trump rally, and fear of being harassed.
Tech CEO Mitchell Feldman, a Tesla Model Y owner, told BI he was confronted in a parking lot while on his way to a concert in London.
Shares could fall even further as investors assess the impact of Chinese EV maker BYD’s new rapid charging technology, Tesla sales slowing worldwide, and Musk’s distraction with DOGE.
While remaining the world’s richest person, Musk’s net worth has fallen by $130 billion this year to $303 billion at Tuesday’s close following the slide in Tesla stock.
A Swiss Airbus A330 made a U-turn over the English Channel, a branch of the Atlantic Ocean.
FABRICE COFFRINI/AFP via Getty Images
A flight from Zurich to Washington, DC, returned home after half its bathrooms stopped working.
The airline found a replacement aircraft, so the 220 passengers were delayed less than 5 hours.
It’s the second time this month that a plumbing problem has caused a flight to nowhere.
A flight from Switzerland to Washington, DC, had to divert after half the plane’s bathrooms stopped working due to a plumbing problem.
According to data from Flightradar24, Sunday’s Swiss International Air Lines Flight 76 turned around over the English Channel — the arm of the Atlantic Ocean that separates Britain and France — about an hour into the journey.
The Airbus A330 landed back in Zurich about two and a half hours after taking off from there, becoming a so-called flight to nowhere.
An airline spokesperson told Business Insider there was a blockage in a toilet pipe. This meant all the toilets on the left-hand side of the plane were rendered unusable as they have an interconnected system.
“With 220 passengers on board, continuing the flight was unfortunately not an option,” they added.
The airline’s dispatch center “immediately organized a replacement aircraft with a new crew,” the spokesperson said. This meant the passengers landed in Washington, DC, with a delay of just under five hours.
While flights to nowhere can be frustrating for passengers, this incident shows how returning to a hub airport can provide better solutions than continuing.
It is easier for airlines to reroute passengers, find new crew, and repair any issues at one of their hub airports than if they divert somewhere closer to the destination.
“Such a delay is of course very annoying for our passengers and we would like to apologize again for the inconvenience,” the airline spokesperson said.
“In such situations, we do everything we can to get our passengers to their destination as quickly as possible,” they added. “This is always our top priority.”
An Air India flight returned to Chicago in a nine-hour ordeal after bags, rags, and clothes had been flushed down toilets and clogged the Boeing 777’s plumbing.
Xpeng’s CEO said “true success” is seeing a wide range of users, including his parents’ generation, comfortably use self-driving cars.
Jade Gao/AFP via Getty Images
XPeng’s CEO said he is aiming for level three autonomy, likening it to an “iPhone 4 moment” for cars.
He said that true success would be his parents’ generation using self-driving comfortably.
Despite revenue growth, XPeng remains unprofitable and is aiming to break even this year.
XPeng’s CEO said that autonomous driving’s “true success” is seeing a wide range of users, including his parents’ generation, use such cars comfortably.
“We are actually in a new generation of technology advancement. And I believe that this is going to trigger a wider adoption of smart driving for the whole society,” XPeng’s CEO, He Xiaopeng, said on Tuesday’s earnings call. “All consumers will become more and more interested in understanding what smart driving is.”
Xiaopeng said level three autonomy and strong user demand and loyalty would mark an “iPhone 4 moment for AI-defined cars.” Level three autonomy refers to the stage of self-driving in which a car can detect its environment and perform most tasks — but it still requires human override for emergencies or unfamiliar situations.
The electric vehicle maker’s CEO added that in the second half of this year, his company plans to be the first in China to sell cars with level three self-driving level. He said XPeng and Tesla are the only carmakers worldwide capable of providing a smart driving experience without high-definition maps or light detection.
XPeng’s deliveries grew 52% to 91,507 vehicles in the fourth quarter, compared with the same period a year ago. Tesla delivered 495,570 cars during the same period.
XPeng reported 16.11 billion yuan, or $2.23 billion, in fourth-quarter revenue, up 23.4% year-over-year.
The company’s recent success has been driven by new model launches, demand for its AI-powered vehicles, aggressive international expansion targets, and focus on the premium EV segment — which Gu defines as cars costing more than $41,000.
Still, the Chinese EV maker has never turned a profit. It reported a loss of 1.33 billion yuan in the fourth quarter.
In November, the company’s president, Brian Gu, said the company may reach a break-even point toward the end of 2025. The milestone would make XPeng the first Chinese carmaker to turn profitable based on EV sales. Larger rivals like BYD are profitable but rely on sales of hybrid cars.
Amid raging competition from Chinese carmakers, XPeng has focused on international expansions. In recent months, it launched in the UK, France, Germany, and Italy and said last month that it planned to expand its footprint to more than 60 countries and regions by the end of the year.
On Tuesday, Xiaopeng said he anticipated that the company’s international sales will nearly double this year. He added that by 2034, he expects an even split between sales coming from China and sales from overseas markets.
XPeng’s stock fell close to 6% in Hong Kong on Wednesday. It is up 91% so far this year.
The stock is heading for an eighth straight weekly loss, and now sits 53% below all-time highs reached in mid-December.
As each day passes, the list of headwinds facing the EV maker seems to grow. In addition to existing pressures, Tuesday saw Tesla investors face fresh competition from China and an analyst price-target cut.
Detailed below are the four forces — two new, two evergreen — driving the acceleration in Tesla’s share-price decline.
1. BYD’s new battery tech
Chinese firm BYD unveiled an EV-charging station that it claims can deliver up to 400 kilometers of driving after just five minutes of charging. This would be a big step up from current charging technology, with Tesla’s quickest version providing a 275-kilometer range after 15 minutes of charging.
The development creates another headwind for Tesla as it tries to break into Chinese market.
BYD plans to build 4,000 of these chargers across China.
2. Wall Street scaling back forecasts
Though RBC maintains an “outperform” rating on Tesla, it cut its price target to $320 from $440.
Analyst Tom Narayan expects lower pricing on Tesla’s full-self-driving technology as autonomous offerings become increasingly standard across the EV industry. Meanwhile, given heightened competition in Europe and China, Narayan lowered robotaxi-penetration assumptions.
“As a result, we now lower our market share assumption to 10% from 20% in both markets,” he wrote.
RBC’s adjusted forecast adds to a growing string of downgrades plaguing Tesla. Last week, JPMorgan lowered its price target by about 41% to $135 per share, citing lower guidance on vehicle deliveries.
3. Slowing vehicle sales worldwide
Sales data this year is bolstering market gloom, with consumers sidestepping Tesla in favor of other EV competitors.
China shipments of Tesla vehicles fell 49% year-over-year in February. The company sold 30,688 Chinese-made vehicles, its lowest sale since August 2022.
A similar trend is showing up in Europe. January Tesla purchases in the region fell 45% from a year ago, compared to a 37% jump in overall European EV sales. The pattern continued into February, with sales in Germany falling by 76%.
4. A distracted CEO
Irritation is also growing with Tesla’s leadership, as investors question the priorities of CEO Elon Musk.
Musk — whose firebrand image as a tech innovator helped propel the stock to past records — seems increasingly distant from the company, minting cynics out of Tesla’s old-time bulls.
In large part, investors have blamed his growing role in the Trump administration, with Musk heading the efforts of the Department of Government Efficiency. He himself has noted “great difficulty” in dividing his attention between DOGE and his many companies, a statement investors were likely unhappy to hear.
“We think shareholders have legitimate concerns about Elon Musk being spread too thin, and it’s become clear he’s now spending more time on DOGE than anything else,” CFRA senior equity analyst Garrett Nelson previously told BI.
Frontier Airlines is offering free checked bags this summer in a clear jab at rival Southwest.
Kevin Carter/Getty Images
Frontier will offer free checked bags this summer to capitalize on Southwest’s policy change.
Southwest is ending its famous “two bags fly free” policy on May 28.
Frontier is not the first airline to take a jab at Southwest amid the backlash.
One airline’s loss is another one’s gain.
Budget competitor Frontier Airlines announced on Tuesday that all nonstop flights departing between March 18 and August 18 will receive a free carry-on bag, seat selection, and flight changes.
Those between May 28 and August 18 will receive a free checked bag. Bookings must be complete by March 24.
Frontier’s starting date for the free checked luggage is no coincidence — it’s the exact same day Southwest Airlines will end its popular “two bags fly free” policy.
Southwest’s 180-degree switch has left some customers reeling. The airline says the change is good for business as it tries to cut costs and boost revenue. Shares have rallied since the announcement.
Some loyal flyers online have said the move feels like a money grab. The only Southwest customers who will get a free checked bag are those with elite status or the company’s co-branded credit card.
Clearly capitalizing on that discourse, Frontier suggested that Southwest customers should “file for divorce” and that Frontier would be the welcoming “rebound.”
“We’ve always had heart,” Frontier CEO Barry Biffle said in a press release, alluding to Southwest’s famous heart logo. “Some airlines are walking away from what travelers love, but we’re running towards it.”
Southwest did not immediately respond to a request for comment from Business Insider.
Southwest has more than just a Frontier problem
Fortunately for Southwest, Frontier’s less comfortable seats and fee-heavy business model may cause some loyalists to hesitate to book the rival competitor.
The beach message was created by UK activist group Led By Donkeys.
Led By Donkeys
Activists used a Tesla to draw a slogan reading “Don’t buy a Tesla” on a beach in Wales.
The protest was staged by the UK activist group Led By Donkeys to target Musk’s “bottom line.”
It’s the group’s second anti-Musk stunt, after projecting an image onto Tesla’s Berlin factory.
A video posted Monday by the UK activist group Led By Donkeys shows a former Tesla owner using a harrow dragged by a Tesla to etch the protest into the beach at Black Rock Sands in Wales.
The slogan reads “Don’t buy a Tesla” alongside an outline resembling Musk’s controversial gesture at a Trump rally in late January.
The video features a woman named Prama, who said she drove a Tesla for six years. She said she started questioning her ownership when Musk “started getting onto the ticket of the extreme far right.”
Prama said there was “no turning back” for her after Musk’s “Nazi gesture.”
Led By Donkey said in a Facebook post: “Thousands of people are ditching Tesla. Here’s one of them with a message you can see from space.” The slogan is said to be about 800 feet long.
A spokesperson for the group told BI the video’s message was “clear” — “to fight the oligarchs taking unaccountable power, we need to hit their bottom line.”
Led By Donkeys, initially set up as an anti-Brexit group, has frequently targeted Musk in recent months over his support for Trump and right-wing European parties such as Germany’s AfD. Its other stunts include projecting videos of his gesture on Tesla’s factory in Berlin.
Another activist group called Everyone Hates Elon has been placing paid-for advertisements on bus stops in London this month.
A poster on a bus stop in London from the activist group Everyone Hates Elon.
Leon Neal/Getty Images
Tesla faces backlash, falling sales
The protests come as Musk’s DOGE cost-cutting efforts have sparked a backlash against his EV maker.
Some Tesla owners have vowed to sell their cars, some citing Musk’s work directing DOGE’s layoffs, his gesture at the Trump rally, and fear of being harassed.
Tech CEO Mitchell Feldman, a Tesla Model Y owner, told BI he was confronted in a parking lot while on his way to a concert in London. Tesla showrooms and vehicles have also become targets for protests and vandalism.
Tesla stock has been under pressure, falling 37% this year. Last week, JPMorgan analysts slashed their price target of the company by about 41% to $135.
“We struggle to think of anything analogous in the history of the automotive industry, in which a brand has lost so much value so quickly,” they wrote.
The Chinese EV giant unveiled new fast chargers on Monday that it says can add almost 250 miles of range to an electric vehicle in five minutes.
BYD’s new 1,000 KW superchargers are four times as powerful as Tesla’s current 250 KW chargers, which Elon Musk’s automaker says can add 200 miles of range in 15 minutes. Tesla has plans to roll out 500 KW superchargers this year.
The reveal of BYD’s new “super E-platform” sparked a share price rally, with the company’s stock jumping as much as 4% to hit a record high.
Lengthy charging times and range anxiety are still cited as some of the main reasons consumers are reluctant to buy EVs. That has sparked a global race to build batteries and chargers that can make charging an electric car as simple as filling up a tank of gas.
Chinese firms Zeekr and CATL both unveiled batteries that could almost fully charge in 10 minutes last year, while Mercedes-Benz said last week its new CLA coupe will be able to add up to 200 miles of range in 10 minutes.
BYD now appears to have leapfrogged its rivals in China and elsewhere with its new charging tech. The tech is set to make its debut on the company’s new Han and Tang L EVs, set to go on sale later this year for 270,000 to 360,000 yuan ($37,300 to $49,800).
“In order to completely solve users’ charging anxiety, our goal is to make the charging time of electric vehicles as short as the refueling time of fuel vehicles,” said BYD chairman and founder Wang Chuanfu in a press conference.
The new fast chargers are the latest in a spree of technological advances announced by BYD in recent weeks.
EV companies in China are under huge pressure to roll out high-tech features such as autonomous driving and voice control as they compete to survive in the country’s brutally competitive car market.
Tesla, which counts China as one of its most important markets, is also feeling the heat.
The US automaker saw its Chinese sales fall 49% in February — compared to a 161% rise for BYD — and began offering free trials of its own autonomous driving system on Monday as it looks to claw back market share.
Tesla’s supercharger network, which Elon Musk’s company began offering in China in 2014, has been crucial in helping it become the world’s biggest EV company. Now, BYD is coming for that, too.