Tag: Electric Vehicle

Tesla  is discounting in China and cutting prices—again. New reductions have shares down in early trading Monday and will lead to more questions about price wars and demand for electric vehicles in the world’s largest market for new cars.

The EV start-up Rivian Automotive delivered second-quarter results that beat Wall Street estimates and raised its forecast for production for the full year. Shares were falling in after-hours trading anyway.

Luxury electric vehicle maker Lucid Group reported that its second-quarter revenue fell short of Wall Street’s expectations after it delivered fewer of its Air luxury sedans than expected during the period.

Lucid Group has lowered the prices of its Air luxury sedans. The electric-vehicle maker’s move could sharpen its challenge to industry leader Tesla in the high-end EV segment.

Early results for Chinese electric-vehicle deliveries have been released. They were excellent. That’s a positive for Tesla , BYD , and other auto makers selling battery-powered vehicles in the world’s largest new car market.

TOKYO/PARIS, July 26 (Reuters) – Nissan will invest up to $663 million in Renault’s (RENA.PA) new electric vehicle unit, the automakers said on Wednesday, as they finalised terms of their restructured partnership after months of negotiation clouded by tension.

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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.