Rivian Automotive reported a 22.7% drop in second-quarter deliveries, reflecting weakening EV demand amid high interest rates, rising production costs, and policy shifts. The company delivered 10,661 vehicles in Q2, but produced only 5,979, which was well below analyst expectations. While Rivian reaffirmed its annual forecast, the loss of federal EV tax credit benefits and…
Tesla has signed an agreement to build a grid-scale battery energy storage facility in China, marking the company’s first such project in the country. According to reports from Chinese media outlet Yicai, the 4 billion yuan ($556 million) deal involves Tesla, the Shanghai municipal government, and China Kangfu International Leasing. Tesla confirmed the project via…
BYD, the Chinese electric vehicle giant, has rapidly grown into a dominant force in the automotive industry, challenging legacy automakers and rivaling Tesla in global EV sales. While Tesla is often viewed as its biggest competitor, BYD’s executive vice president, Stella Li, believes there is room for cooperation—at least in their shared mission to eliminate…
Hyundai is planning to begin mass production of solid-state batteries by 2030, with the first EVs to be powered by the new tech to arrive shortly afte … Hyundai is planning to begin mass production of solid-state batteries by 2030, with the first EVs to be powered by the new tech to arrive shortly after….
Tesla’s sales in California fell sharply in 2024, marking its first annual decline in the state as competition intensifies. According to the California New Car Dealers Association (CNCDA), Tesla’s deliveries dropped 11.6%, with nearly 27,000 fewer vehicles sold. The company’s share of the state’s electric vehicle market declined from 60% in 2023 to 52.5%, though…
Republican Senator-elect Bernie Moreno, a luxury car dealer before transitioning to politics, is positioning himself as a key automotive voice in the Senate. Following his victory over Democrat Sherrod Brown in Ohio—a state critical to the manufacturing sector—Moreno aims to influence automotive policy, particularly as it relates to electric vehicles (EVs). Speaking at the 2024…
The U.S. electric vehicle (EV) market continues its momentum toward a record-breaking year, with October delivering notable growth in both new and used EV sales. While new EV prices edged lower and used EV prices approached parity with traditional vehicles, inventory dynamics, and transaction pricing painted a clearer picture of the market’s trajectory. Additionally, new…
As the automotive industry rapidly shifts toward electric vehicles (EVs), the need for trained technicians who can service these cars has never been more urgent. California and Michigan are two states leading the way in this transition. However, the demand for EV service professionals is growing nationwide. To address the demands of this evolving market,…
The Trump transition team is considering eliminating the $7,500 consumer tax credit for electric vehicle (EV) purchases as part of broader tax reforms. This potential move, part of the transition team’s energy-policy discussions led by figures like oil magnate Harold Hamm and North Dakota Governor Doug Burgum, could significantly impact the U.S. EV market, which…
LG Energy Solution reported a significant operating profit drop of nearly 40% for the third quarter, attributing the decline to sluggish demand for electric vehicles (EVs). For the three months ending September 30, the South Korean battery maker’s operating profit stood at 448.3 billion won ($323 million), slightly exceeding analyst expectations but down 39% from…