In the race to make EVs cheaper and more profitable, companies are pulling just about every lever they can. But while improving battery technology often hogs the spotlight, automakers are investing heavily into changing how the rest of the car is made. One such method is megacasting, or gigacasting, as Tesla calls it. Gigacasting is… Continue reading Why Tesla’s big bet on gigacasting has other EV makers reimagining their factories
Author: CNBC Online news
‘Loophole’ may get you a $7,500 tax credit for leasing an EV, auto analysts say
Maskot | Maskot | Getty Images Buying a new electric vehicle isn’t the only way consumers can access a $7,500 federal EV tax credit. They may also be able to get the money by leasing a car. The Inflation Reduction Act, which President Joe Biden signed in 2022, contained various rules related to consumer tax… Continue reading ‘Loophole’ may get you a $7,500 tax credit for leasing an EV, auto analysts say
Ford to spend $3 billion to expand large truck production to a plant previously set for EVs
2023 Ford Super Duty F-350 Limited Ford DETROIT – Ford Motor will expand production of its large Super Duty trucks to a Canadian plant that was previously set to be converted into an all-electric vehicle hub. The new plans include investing about $3 billion to expand Super Duty production, including $2.3 billion at Ford’s Oakville… Continue reading Ford to spend $3 billion to expand large truck production to a plant previously set for EVs
Volvo Cars jumps 11% after reporting a record core operating profit
A worker at a Volvo car store introduces the Volvo xc60 and other models via a live streaming in Shanghai, China, March 18, 2024. Cfoto | Future Publishing | Getty Images Volvo Cars shares rose sharply on Thursday after the company reported a jump in annual operating profit for the second quarter. Shares closed up… Continue reading Volvo Cars jumps 11% after reporting a record core operating profit
GM to increase production of high-performance Cadillac Escalade V8 SUV
2025 Cadillac Escalade V-Series SUV Cadillac DETROIT — General Motors will increase production of its Cadillac Escalade V-Series performance model as part of updates to the flagship SUV for the 2025 model year. The new SUV features a standard 55-inch diagonal display across the dash, including a passenger-only screen; an “executive package” for the second… Continue reading GM to increase production of high-performance Cadillac Escalade V8 SUV
Why heavy discounts on leases could mean losses for automakers
Automakers are turning to aggressive discounts to boost stagnating electric vehicle sales, especially on leases. Some EVs, and some EV buyers, are not eligible for the $7,500 federal tax credit. High income buyers can’t receive the credit, nor can cars made outside the United States, for example. However, leasing offers a loophole that bypasses all… Continue reading Why heavy discounts on leases could mean losses for automakers
Foreign carmakers in China face ‘increasingly precarious’ position, consultancy says
Newly produced electric vehicles are being seen at Tesla’s Shanghai Gigafactory in Shanghai, China, on December 31, 2023. Costfoto | Nurphoto | Getty Images BEIJING — New tariffs on Chinese electric cars aren’t enough to help foreign automakers stay competitive, especially in the lucrative China market, according to consulting firm AlixPartners. China is the world’s… Continue reading Foreign carmakers in China face ‘increasingly precarious’ position, consultancy says
GM’s 2025 EV production capacity target in doubt after Barra comments
watch now General Motors‘ goal of being capable of producing 1 million all-electric vehicles in North America by the end of 2025 in heavily in doubt, following comments Monday by CEO Mary Barra. The production capacity target for next year was one of the last EV targets the automaker hadn’t lowered or withdrawn as demand… Continue reading GM’s 2025 EV production capacity target in doubt after Barra comments
Elon Musk endorses Donald Trump shortly after ex-president injured by shots fired at rally
Elon Musk, chief executive officer of SpaceX and Tesla and owner of X, speaks at the Milken Conference 2024 in Beverly Hills, California, May 6, 2024. David Swanson | Reuters Elon Musk posted on X that he “fully” endorses Donald Trump moments after the former president and presumptive Republican nominee was rushed off stage by… Continue reading Elon Musk endorses Donald Trump shortly after ex-president injured by shots fired at rally
Tesla shares close down 8% after report of robotaxi unveiling delay
Elon Musk, CEO of SpaceX and Tesla, speaks during the Milken Global Conference 2024 at The Beverly Hilton in Beverly Hills, California, on May 6, 2024. David Swanson | Reuters Tesla shares closed down about 8% on Thursday after Bloomberg reported that the electric vehicle maker is delaying the unveiling of its Robotaxi by two… Continue reading Tesla shares close down 8% after report of robotaxi unveiling delay