As the electric vehicle industry faces a string of high-profile failures, several startups that have surfaced in recent years have underestimated their capital needs by billions of dollars, industry insiders said. Many of the companies that have tried to bring products to market or go public, especially through Special Purpose Acquisition Companies, or SPACs, are … Read more
In the U.S., Tesla may be at the forefront of the electric vehicle revolution, but abroad, the carmaker has some serious competition. In China, the world’s largest EV market, Tesla has been losing ground to domestic automakers who are increasingly building better cars at unbeatable prices, and chief among them is Warren Buffett-backed BYD. In … Read more
The Indian government has given the green light to a new electric vehicle scheme with tax relief aimed at positioning India as a prime manufacturing hub. This comes at a time when the Asian nation seeks to attract foreign money for local production from the likes of Tesla. India plans to lower import taxes on … Read more
Mack MD electric trucks. Mack Trucks Mack Trucks, founded in Brooklyn, New York, in 1900, is renowned for its 18-wheelers, diesel-powered big rigs with a trademark bulldog mounted on the hood. In 2021, that iconic ornament debuted in copper, rather than its usual gold hue, signifying the venerable manufacturer’s first foray into battery-electric vehicles. Appropriately, … Read more
Car bodies of the Model Y electric vehicle stand on a conveyor belt at the Tesla Gigafactory Berlin Brandenburg plant. Patrick Pleuil | Picture Alliance | Getty Images There are plenty of reasons not to buy an electric vehicle in 2024: Auto loan rates are high. Despite a recent wave of discounting, many EVs remain … Read more
A Hertz Tesla electric vehicle is displayed during the Hertz Corporation IPO at the Nasdaq Market site in Times Square in New York City, U.S., November 9, 2021. Brendan Mcdermid | Reuters Hertz surprised many onlookers last week when the car-rental company announced it would be selling about a third of its global electric vehicle … Read more
Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill. Michael Wayland | CNBC Shares of Rivian Automotive declined about 10% on Tuesday after the company reported increased vehicle production during the fourth quarter but fewer deliveries than the previous period. The electric vehicle company said it … Read more
Nio’s ET5 stands on display at the Central China International Auto Show on May 25, 2023, in Wuhan, China. Getty Images | Getty Images News | Getty Images Nio on Tuesday reported narrowing losses in the third quarter, but gave a revenue forecast below market expectations. Here’s how Nio did in the third quarter, according … Read more
