Tag: Electric Vehicle

Tesla posted an all-time high quarterly revenue, but operating margin dropped to 9.6%

Ford Motor on Monday cut prices for its electric F-150 Lightning pickup, saying that its efforts to boost production and lower costs for battery minerals have paid off.

Tesla founder Elon Musk introduced the pickup truck in a 2019 reveal where the vehicle’s designer cracked the vehicle’s supposedly unbreakable “armor glass” windows.

BEIJING/SHANGHAI, July 10 (Reuters) – China’s passenger vehicle sales fell in June, data from the China Passenger Car Association (CPCA) showed on Monday, as a stumbling economic recovery led to more consumer caution on big-ticket spending.

Legacy automakers continue to promise big increases in production and sales of electric vehicles, but their efforts so far have done little to change the highly watched market.

Shares of Rivian Automotive jumped 17.4% on Monday after the electric vehicle maker beat Wall Street expectations for quarterly deliveries.

Tesla shares jumped 6% on Monday after better-than-expected quarterly deliveries showed that Chief Executive Elon Musk’s plan of boosting volumes through discounts was working.

Shares of Rivian Automotive jumped more than 16% in early trading Monday after the electric vehicle maker beat Wall Street expectations for quarterly deliveries.

Tesla is set to hit another record quarter with its China sales while it faces mounting pressure from local competitors such as BYD eating into its share in the world’s largest auto market, analysts say.

Lucid ‘s largest shareholder is showing growing support for its electric vehicle investment.

British luxury carmaker Aston Martin has reached a deal that will give U.S. electric vehicle (EV) maker Lucid Group a 3.7% stake in the company in return for access to its “high performance” technology, Aston Martin said on Monday.

Ford Motor Corp. will announce a new round of layoffs of salaried employees as early as next week, The Wall Street Journal reported, citing people familiar with the matter.

Volkswagen plans to use silicon carbide (SiC) chips in electric cars for the first time this year, German media outlet The Pioneer reported on Thursday.

China unveiled on Wednesday a 520 billion yuan ($72.3 billion) package of tax breaks over four years for electric vehicles (EVs) and other green cars, its biggest yet for the industry as it seeks to boost slower auto sales growth.

Japanese automaker Mazda Motor and the energy unit of Panasonic Holdings will start talks to set up a battery supply partnership for electric vehicles (EVs), the companies said on Wednesday.

The government of Abu Dhabi is taking a 7% stake in Nio Inc. and will gain a board seat, giving the electric carmaker a capital infusion as it contends with losses and uncertain demand in China’s competitive EV market.

Hyundai Motor will raise average annual investment in electrification by nearly two-thirds, spending $28 billion in the next decade, and further restructure its struggling China business as part of a strategy to boost electric vehicle (EV) sales.

Stellantis, the third-largest carmaker in the world by revenue, will reveal its first European-made, affordable electric car in mid-October.

NIO shares rose in early Hong Kong trade, extending gains for a fifth straight trading day amid renewed enthusiasm for electric-vehicle makers and in the wake of the launch of its first electric station wagon.

Toyota shares soared to a 16-month high Wednesday after shareholders of the world’s largest car manufacturer voted to retain Akio Toyoda as its chairman in a broad endorsement of the company’s governance and new electric vehicle strategy.