Worry about the carmaker’s sales in the world’s largest car market is one reason the shares have plunged. Go to Source
Category: US Motoring Press
Tesla Car Sales Grow Slower Than Expected, Amplifying Concerns
Wall Street has grown decidedly pessimistic about Tesla, fearful that Elon Musk, its chief executive, is too focused on Twitter. Go to Source
Tesla Had a Bad Year. Some Investors Are Blaming Elon Musk.
Investors blame Elon Musk and wonder how much more the stock will fall. Go to Source
Jeep Plant Shutdown Imperils Illinois Town and 1,350 Workers
Stellantis plans to idle the factory, which makes the Cherokee, as it shifts to electric vehicles. Labor talks and a union election may be affected. Go to Source
Black Ice and White Knuckles: Braving the Elements on Iceland’s Ring Road
In summer, the roughly 830-mile route offers drivers midnight sun, along with plenty of traffic. Other times of the year, its snowy delights are more solitary, and slippery. Go to Source
Saudi Aramco backs Brooklyn-based startup turning ammonia into fuel
In the race to find cleaner fuels, the heavy duty transportation sector is woefully behind because batteries don’t have enough juice to power trucks and ships. Enter ammonia. New technology and new companies are working on turning ammonia into hydrogen to power tractors, trucks and even ships. The heavy duty trucking industry alone accounts for… Continue reading Saudi Aramco backs Brooklyn-based startup turning ammonia into fuel
Rivian to lay off 6% of its workforce as EV price war concerns grow
Workers inspect a Rivian R1T electric vehicle (EV) pickup truck on the assembly line at the company’s manufacturing facility in Normal, Illinois, US., on Monday, April 11, 2022. Jamie Kelter Davis | Bloomberg | Getty Images Electric truck maker Rivian Automotive said it is laying off 6% of its workforce in a bid to conserve… Continue reading Rivian to lay off 6% of its workforce as EV price war concerns grow
GM lowers bonus performance percentage for salaried employees
General Motors Co. has lowered the percentage in the performance plan payout the automaker uses to determine a salaried employee’s bonus payout this year. The percentage this year is 158%, down from last year’s 200%, The Detroit News has confirmed. The lowered percentage comes as GM reported record pre-tax earnings of $14.5 billion for 2022… Continue reading GM lowers bonus performance percentage for salaried employees
Rivian cuts 6% of workforce, spares blue collar employees
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Novi battery maker Our Next Energy raises $300M in Series B funding round
Electric-vehicle battery maker Our Next Energy said Wednesday that it has raised $300 million in its latest fundraising round, bringing the Novi-based startup’s valuation to more than $1 billion. The latest infusion of investment, combined with economic incentives from the state of Michigan, gives the company the capital needed to launch production at its first… Continue reading Novi battery maker Our Next Energy raises $300M in Series B funding round