Declines in new car prices are pushing down used electric vehicle prices, too. They have fallen 17 percent since July, according to Recurrent, which tracks the used car market. That’s largely because Tesla cut the price of the Model 3 and G.M. lowered the price of the Chevrolet Bolt by almost $6,000 last year. Under… Continue reading Electric Vehicles Could Match Gasoline Cars on Price This Year
Category: US Motoring Press
Energy Department Will Loan $2 Billion to Redwood Materials
The Energy Department on Thursday announced a $2 billion loan to help a Nevada company step up production of critical components of electric vehicle batteries. The company, Redwood Materials, plans to use the loan to expand a manufacturing campus near Reno, Nev., where it makes some of the components from new and recycled sources. The… Continue reading Energy Department Will Loan $2 Billion to Redwood Materials
General Motors Reaches Deal to Ensure Its Chip Supply
General Motors has reached an agreement with a large computer chip maker to help ensure it has a steady supply of semiconductors as it ramps up production of electric vehicles and complex components that require increases in computing power. Under the agreement, the chip maker, GlobalFoundries, agreed to set aside a portion of its manufacturing… Continue reading General Motors Reaches Deal to Ensure Its Chip Supply
Tesla’s Cybertruck Is Coming Soon. Maybe.
More than three years after Elon Musk stunned the auto industry with an electric pickup truck that looked more like a stealth fighter than a way to haul two-by-fours and drywall, Tesla said last month that it would begin building the vehicle by the end of 2023. The announcement has helped fuel a recovery in… Continue reading Tesla’s Cybertruck Is Coming Soon. Maybe.
Do You Work in the Auto Industry? We Want to Hear From You.
Growth in sales of electric vehicles has created thousands of jobs in auto manufacturing, batteries and other new fields, but not without turmoil. There is talk of layoffs at some suppliers and automakers even as other companies expand. I cover the auto industry for The New York Times, and I am planning to write about… Continue reading Do You Work in the Auto Industry? We Want to Hear From You.
Jury Rules for Elon Musk and Tesla in Investor Lawsuit Over Tweets
A jury decided Friday that Elon Musk was not liable for losses suffered by investors after he posted messages on Twitter saying he had secured the funding to take Tesla private in 2018. Investors had sued Mr. Musk, Tesla and the company’s board, arguing that his statements about his embryonic plan to take the electric… Continue reading Jury Rules for Elon Musk and Tesla in Investor Lawsuit Over Tweets
Ford Lost $2 Billion in 2022 as Some Investments Soured
The company sold 1.15 million vehicles in the fourth quarter, an increase from 1.1 million a year earlier but about 500,000 fewer than Ford had expected, Mr. Lawler said. Ford’s production has been slowed by the global shortage of computer chips, and Mr. Lawler said the company expected some disruptions to continue this year and… Continue reading Ford Lost $2 Billion in 2022 as Some Investments Soured
GM Posts Solid Profit as It Pushes to Take On Tesla in EVs
General Motors on Tuesday reported solid profits for 2022, after overcoming the computer chip shortages and softening demand that has slowed much of the auto industry last year. The company reported $9.9 billion in net income, slightly below the total from the year before, while revenue rose 23 percent to $157 billion. It sold 3.6… Continue reading GM Posts Solid Profit as It Pushes to Take On Tesla in EVs
Scout Motors picks South Carolina for new $2B EV plant
Columbia, S.C. – A Volkswagen Group-backed automotive company announced plans this week to open a $2 billion electric truck and SUV manufacturing plant just outside of Columbia, South Carolina. Scout Motors Inc. and South Carolina officials said Friday that the company would be establishing its first manufacturing plant in Blythewood at an industrial site. At… Continue reading Scout Motors picks South Carolina for new $2B EV plant
Maruti Suzuki to begin Jimny 5-door production in April
Following the reveal of its five-door Jimny SUV at the Auto Expo 2023 on January 12, Maruti Suzuki India had opened bookings and received over 15,000 bookings in just three weeks. Since then, bookings have crossed the 18,000 mark. Slated to go on sale in May 2023, bookings for the iconic SUV are underway and… Continue reading Maruti Suzuki to begin Jimny 5-door production in April