Tag: industry news
LG Chem deal will supply General Motors cathode material for 5...
General Motors needs about 950,000 tons of cathode active materials (CAM) to reach its goal of becoming a carbon-neutral company by 2040. To get the...
Georgia gives $1.8 B in tax breaks to Hyundai to build...
According to a signed agreement made public late last week, the state of Georgia and local governments will provide Hyundai Motor Group with $1.8...
SEC once again subpoenas Tesla over Musk’s go-private tweet
In a quarterly regulatory filing released on Monday, Tesla stated that the company has been served with a fresh subpoena by the U.S. Securities...
VW CEO Herbert Diess will step down at the end of...
Volkswagen confirmed on Friday that current CEO Herbert Diess would be leaving his post at the end of August. Taking over for Diess on...
Ford reportedly laying off 8,000 employees in preparation for EV expansion...
Ford is considering significant staff reductions as the automotive industry transitions to electric vehicles. Ford is preparing to lay off 8,000 salaried employees, or...
Rivian teases further expansion into commercial EV market
According to CEO RJ Scaringe, Rivian Automotive is working on a broader range of electric commercial cars in a variety of designs and anticipates...
High gas prices shrink gap between EVs and gas-powered cars in...
The recently released J.D. Power 2022 U.S. Automotive Performance, Execution and Layout (APEAL) study revealed that battery electric vehicle owners are less satisfied with charge...
Lithia Motors Q2 earnings miss estimates, used vehicle revenues increase 39%
Leading automotive retailer Lithia Motors reported its second-quarter earnings late last week, just missing the estimates from Zack's Investment Research. New vehicle revenue reached...
Northvolt and Stora Enso announce joint agreement to source battery materials...
European markets are steadily moving from gasoline and diesel-powered vehicles to electric and environmentally friendly ones. To do this, companies are working together to...
Tesla offloads 75% of bitcoin holdings, Q2 revenue increases 42% YoY
Tesla released its Q2 earnings earlier this week and exceeded analysts' expectations despite COVID-related closures at its Shanghai production facility. However, the quarter marked the end of...
