Tag: Electric Vehicle

China is poised to extend incentives for electric-vehicle purchases as part of broader efforts to shake off a sluggish post-pandemic period.

Lucid Group said on Wednesday that it is raising about $3 billion through a new equity offering, with the majority coming from the Saudi fund that controls the luxury electric-vehicle maker.

Toyota Motor Corp’s global sales rose by nearly 5% in April from a year earlier, boosted by stronger demand for hybrids and gasoline-powered cars in Japan and China.

A private jet used by Tesla CEO Elon Musk has arrived in Beijing, according to a Reuters witness.

South Korea’s Hyundai Motor Group and LG Energy Solution Ltd (LGES) on Friday said they will build a $4.3 billion electric vehicle (EV) battery plant in the United States amid a push to take advantage of tax credits.

Shares of Chinese electric vehicle firm Xpeng dropped on Wednesday after the company reported earnings that missed expectations and forecast a plunge in car sales.

Tesla CEO Elon Musk addressed shareholders at the company’s annual meeting on Tuesday, predicting the economy would pick up after 12 months and promising the company would deliver production Cybertrucks later this year.

Ford said on Monday it was working to reduce costs in China as it strives to recover from a long sales slump in the world’s largest auto market.

Elon Musk said that he has found a CEO for Twitter but didn’t say who it was. Tesla investors were happy nonetheless.

Japan’s Honda Motor Co on Thursday forecast a 19.1% rise in operating profit for this business year, after it missed analysts’ estimates in the fourth quarter.

Nissan Motor Co on Thursday flagged a better-than-expected 38% rise in profit this year on stronger sales, a rosier outlook for the Japanese automaker as it retools its often difficult alliance with Renault and faces headwinds in China.

Japanese automaker Subaru Corp laid out targets for selling and making battery electric vehicles (EVs) on Thursday, aiming for global sales of 200,000 units a year by around 2026 as it seeks to tap into the growing EV market.

Toyota Motor Corp on Wednesday said it expects operating profit to climb 10% this business year, with a five-fold jump in pure electric vehicle (EV) sales amid an easing in global supply chain disruption from a shortage of chips.

BYD Co Ltd, on Wednesday cut the starting price of its best-selling Seal sedan by 10%, as the Chinese electric vehicle (EV) giant seeks to extend its lead in the world’s largest auto market with lower-priced products.

Electric vehicle maker Rivian Automotive on Tuesday reported a first-quarter loss that was narrower than expected and said it’s still on track to meet a 50,000-vehicle production target for 2023.

Lucid Group LCID shareholders have endured a lot lately. The company’s first- quarter earnings report highlighted a new problem—pricing—rather than offering relief.