Tesla’s cheaper Model Y faces stiff competition in crowded European EV market

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Tesla’s new lower-cost Model Y and Model 3 may struggle to gain traction in Europe, where affordable electric vehicles from Chinese and European automakers already dominate. The newly launched $39,990 Model Y Standard and $36,990 Model 3 enter a segment crowded with more than a dozen models priced below $30,000.

Analysts say the competition could blunt Tesla’s recovery in a region where its market share has halved to around 1.5% since 2023. “The competition in this market is fierce,” said Sam Fiorani of AutoForecast Solutions. Budget EVs such as the BYD Dolphin, Dacia Spring, and Citroën e-C3 are undercutting Tesla’s new releases by thousands of euros, while Volkswagen’s ID.Polo will join the field next year at under €25,000.

Tesla’s European sales drop has been fueled by an aging product lineup and consumer backlash against CEO Elon Musk’s politics. The company hopes the cheaper models will revive demand after its first global sales decline in 2024, with deliveries projected to fall another 10% this year.

Despite interior updates to the Model Y, analysts argue the price cut doesn’t go far enough. “It isn’t going to break the market open in a way that a €30,000 vehicle would,” said Matthias Schmidt of Schmidt Automotive.

With over 25 new EVs set to hit European showrooms next year, Tesla faces its toughest challenge yet in keeping its once-dominant position in the region’s fast-evolving EV market.

OpenAI and Anthropic may use investor funds to settle AI copyright lawsuits – FT

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OpenAI and Anthropic are reportedly considering using investor funds to help cover potential multibillion-dollar settlements linked to ongoing AI copyright lawsuits, according to the Financial Times. Several lawsuits filed by authors, publishers, and media companies accuse major tech firms — including OpenAI, Microsoft, and Meta — of using copyrighted materials without permission to train their AI models.

The report said OpenAI has arranged insurance coverage of up to $300 million through Aon for emerging AI-related risks, though some sources claimed the actual figure is “significantly lower.” Experts said such coverage is still far short of the amount needed to offset massive legal liabilities.

Aon’s head of cyber risk, Kevin Kalinich, told the FT that the insurance industry currently lacks “enough capacity” to adequately protect AI model providers. As a result, OpenAI has discussed self-insurance options, including setting up a captive fund to ringfence investor capital against potential future claims.

Anthropic, meanwhile, is also using internal funds to prepare for possible settlements. Last month, a U.S. federal judge preliminarily approved a $1.5 billion class-action settlement involving authors’ copyright claims against Anthropic.

Neither company has publicly commented on the report, and Reuters could not independently verify the details. The cases highlight the growing legal and financial challenges facing leading AI developers as governments and creators push back on data use practices.

HealthTap partners with Eli Lilly to expand online diabetes care

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HealthTap, a U.S. telehealth provider, will join Eli Lilly’s digital healthcare platform LillyDirect to deliver virtual diabetes management services nationwide. The collaboration will give diabetic patients direct access to HealthTap’s primary care physicians, who will oversee treatment, lab reviews, and preventive care tailored to each patient’s needs.

HealthTap’s care model emphasizes continuity with one doctor, allowing long-term, personalized management of chronic conditions like diabetes. CEO Sean Mehra said the partnership leverages Lilly’s growing online presence: “As Lilly markets its website as a destination for consumers, we get to tap into it in a very relevant way.”

The move comes amid surging demand for GLP-1 diabetes and obesity drugs, a market dominated by Lilly and Novo Nordisk. Telehealth providers, pharmacies, and pharmaceutical firms are increasingly teaming up to offer direct-to-consumer digital health services.

Earlier this year, primary care firm knownwell joined LillyDirect to offer similar weight and metabolic health programs. Lilly has also broadened the platform to include telehealth partners for Alzheimer’s care, signaling its ambition to build a one-stop digital health ecosystem.

By joining LillyDirect, HealthTap strengthens its foothold in the rapidly expanding telemedicine and chronic disease management market, as patients increasingly seek accessible, ongoing digital care options.