General Motors (GM) is reducing its forecasted sales and production of all-electric vehicles (EVs) for this year, citing slower-than-anticipated U.S. adoption of EVs. GM Chief Financial Officer Paul Jacobson announced the company now anticipates producing 200,000 to 250,000 EVs in 2024, down from the previously stated range of 200,000 to 300,000. Despite this adjustment, Jacobson […]
Rivian has unveiled the second generation of its flagship vehicles, the R1S SUV and R1T pickup. These new models feature advanced performance capabilities, an evolved tech platform, and updated designs, with prices starting at $69,900 USD. The latest versions of the R1S and R1T have undergone significant reengineering, incorporating hundreds of hardware improvements, performance upgrades, […]
Tesla’s recent decision to lay off its entire Supercharger team has led to delays in the timeline for connecting more non-Tesla brands to its charging network. Initially, Tesla’s website stated that Volvo, GM, and Polestar drivers would gain access to 15,000 eligible stations by spring 2024. However, Polestar has indicated that the timeline has shifted. […]
General Motors is actively seeking to recruit software interns impacted by Tesla’s recent downsizing. Laura del Amo, a talent sourcing strategist for GM, made a public appeal on LinkedIn targeting software students affected by Tesla’s decision to terminate its summer internship program. This move comes as Tesla recently announced a reduction of more than 10% […]
Lucid Motors has reported a substantial net loss of $685 million in the first quarter of 2024, despite a slight improvement from the $780 million loss recorded in the same quarter of the previous year. The company’s stock reacted negatively, dropping 7.5 percent to $2.82 per share in after-hours trading on Monday. Despite the financial […]
Ford’s electric vehicle (EV) division, Model e, experienced significant financial setbacks in the first quarter of 2023, recording a staggering loss of $1.3 billion. This equates to an alarming $132,000 loss for each of the 10,000 vehicles sold during this period, marking a notable decline in performance from the previous year, where sales were 20% […]
In the first quarter of the year, BMW’s sales of fully electric vehicles significantly increased compared to the year-ago quarter. BMW reported a 41% increase in the delivery of battery-powered models, including the i4, iX1, and i7, in the three months leading to March, against the backdrop of a 28% rise in the group’s overall […]
Lucid has revealed its production and delivery figures for the first quarter ended March 31, 2024. The company announced it produced 1,728 vehicles and achieved deliveries of 1,967 vehicles during the quarter. This deliveries number beats Wall Street estimates and is far lower than the 2021 SPAC presentation where it said it was forecasted to […]
Uber Eats, in collaboration with Google’s Waymo, has expanded its services in Phoenix to include deliveries made by autonomous vehicles. This innovative step, building on the success of their autonomous ride-sharing partnership in Phoenix, marks a significant milestone in the evolution of delivery services. Starting today, residents of Tempe, Mesa, and Chandler may see their […]
Rivian has achieved a significant milestone, producing 100,000 cars, as it surpassed Q1 delivery expectations despite concerns over the electric vehicle (EV) sector’s growth. The company delivered 13,588 vehicles in the first quarter ended March 31, outperforming the forecast of 12,415 units by 16 analysts from Visible Alpha. This growth was driven by strong demand […]
Fisker has announced substantial reductions in the MSRP for several trims of its 2023 Ocean electric SUV. The price cuts are effective March 29, 2024, according to the company’s announcement on Wednesday. The top-tier 2023 Ocean Extreme trim sees the most dramatic reduction, with the MSRP dropping from $61,499 to $37,499 USD, a $24,000 decrease. […]
Lucid Group announced a significant financial boost today, revealing an agreement with Ayar Third Investment Company, an affiliate of the Public Investment Fund (PIF), for a $1 billion investment. This investment will come in the form of newly created series of convertible preferred stock through a private placement, contingent on customary closing conditions. The infusion […]
EV startup Fisker announced a six-week halt in the production of its Ocean SUV, as the company seeks urgent financial support. In a regulatory filing on Monday morning, Fisker revealed a dire financial situation, with just $121 million in cash and cash equivalents on hand as of March 15th, of which $32 million is restricted. […]
Rivian owners can now access select Tesla Superchargers in the U.S. and Canada, expanding the availability of charging for owners of the former’s electric vehicles. Tesla announced on Monday, “Select Superchargers now available for Rivian owners,” directing owners to “Download the Tesla App to charge,” by clicking here. At the end of February, Tesla shared […]
Porsche has expanded its electric vehicle lineup with the addition of two high-performance models: the Taycan Turbo GT and the Taycan Turbo GT equipped with the Weissach package. These models are notable for their superior electric power capabilities, surpassing 1,084 horsepower. Specifically, the Taycan Turbo GT shows a power consumption of 21.6 – 20.7 kWh/100 […]
