China Bans EV Door Handles, Tesla Sales Drop, Markets Surge: Bloomberg Money Minute

China's New EV Door Handle Regulations

• 🇨🇳 China is banning concealed door handles on all electric vehicles, mandating mechanical releases both inside and outside.
• ⚠️ This regulatory change follows two fiery crashes in China where power failures may have prevented doors from opening on an EV.
• 💡 Similar incidents involving Tesla door failures have been linked to at least 15 crash-related deaths in the U.S.

Tesla's Sales Slump and Market Challenges

• 📉 Tesla's sales hit a three-year low in France in January, falling by 42%.
• 📉 In Norway, Tesla sales in January were down 88%.
• 🚗 Factors contributing to the slump include Elon Musk's association with President Trump and increasing competition from European and low-priced Chinese rivals.
• 📈 Tesla shares are down about two and a half percent.

Market Surges and Economic Indicators

• 📊 Wall Street experienced big gains, partly driven by a rise in manufacturing activity last month, the most in four years.
• 📈 The market saw a snapback rally after a significant sell-off on Friday.
• 📈 Currently, the Dow is up 1%, the Nasdaq is up three-quarters of a percent, and the S&P is up two-thirds of a percent, potentially hitting a record today.