Sales of electric vehicles in the United States are almost certain to tumble when the $7,500 federal tax credit for EV buyers expires on Oct. 1, leaving automakers and car buyers wondering where prices will go.The tax credit, which was passed in 2022 as part of the Biden administration’s legislative push to support EVs and…
With Chinese EV automaker BYD taking some serious financial hits recently, it should act as a warning to the auto industry. After all, just a few short weeks ago, many in the industry were declaring BYD not only wouldn’t fall but was heralding the future of the automobile. While we would love to believe the…
The electric edition of the Genesis G80 sedan is displayed at the Genesis showroom in New Cairo, Egypt. (Hyundai Motor Company) Hyundai Motor Company’s premium brand, Genesis, has launched in Egypt, marking its first entry into the major African market. Focusing on electric models, the company aims to proactively capture the premium EV sector on…
Tesla just had its roughest quarter in at least a decade, but some analysts and investors are still dreaming big. Elon Musk’s carmaker said on Wednesday that revenues plunged 12% year-over-year to $22.5 billion in the second quarter. Tesla’s stock fell as much as 9% in early trading on Thursday morning on the disappointing earnings,…