Rivian is reportedly laying off around 4% of its workforce as the electric-vehicle startup looks to rein in costs amid a slowdown in the EV market. Sources tell the Wall Street Journal and Bloomberg that the company is cutting at least 600 jobs, mostly in the servicing and sales departments. The move comes just…
President Trump’s affinity for electric vehicles (EVs) lasted about as long as his government collaboration with Tesla NASDAQ: TSLA CEO Elon Musk did. Earlier this year, at a staged media event at the White House’s South Lawn, the president publicly announced that in support of Musk, he was purchasing a red Tesla Model S. But…
Tesla Inc (NASDAQ:TSLA) beat analyst expectations for third-quarter deliveries thanks to a short-term surge in demand as the federal EV tax credit expired. Deepwater Asset Managing Partner and co-founder Gene Munster says investors should throw this figure out and throw the fourth-quarter delivery figure out as well. With automotive companies likely to see less demand…
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…
(Bloomberg) — Ford Motor Co. unveiled plans for a new line of budget electric vehicles in a $5 billion bid to achieve the mass appeal that has so far eluded its money-losing EV business. The automaker’s new “universal EV platform” represents its first battery-powered models fully designed from the ground up, after early efforts such as the F-150…
Lucid’s CEO Issues Stern Warning originally appeared on Autoblog. Lawmakers are not being easy on small EV makers For years, electric vehicle startup companies like Tesla faced a tough uphill road on their journey toward making a mark on the U.S. auto market. However, they may face an even steeper climb thanks to new developments…