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...It ranked 12th by sales among electric-vehicle makers in China during the first three months of the year....
...After overtaking Tesla as the world’s largest electric-vehicle maker last year, BYD has started releasing higher end models, the latest being its Yangwang U9 electric sports car with that price tag, to try...
...Ford and General Motors have paused plans to expand their EV manufacturing capacity in recent months, and last week Rivian announced that it would cut 10 per cent of its workforce and keep deliveries flat...
...Gil West, a former chief operating officer of Delta Air Lines and General Motors’ Cruise self-driving car unit, will be replacing him. Instead of enjoying a boom, Hertz is in trouble again....
...The news is another sign of tougher conditions for the electric vehicle sector. Rivian went public in late 2021 with a market capitalisation of more than $100bn — bigger than Ford and General Motors....
...Then, last week, fellow start-ups Rivian and Lucid Motors also announced lacklustre results, sending their shares tumbling....
...A number of EV makers have recently scaled back expansion plans, including Ford and General Motors, while rental group Hertz is selling one-third of its electric fleet to buy more petrol vehicles....
...Shanghai’s state-owned carmaker SAIC Motor, for example, had its 15 per cent tax rate for being a “high-tech enterprise” renewed four times since 2008....
...Ford, General Motors and Tesla have all pumped the brakes on expanding EV production capacity in recent weeks....
...Oddly, Apple never confirmed the existence of its electric, self-driving car project. The cost of development was not made explicit in expenses....
...Replacing him is Gil West, a former chief operating officer of Delta Air Lines and General Motors’ Cruise self-driving car unit....
...U-Power last month signed a deal to supply New York-based EV start-up Olympian Motors with its skateboards....
...The Cybertruck is Tesla’s bid to move beyond sedans and SUVs to challenge the likes of Ford, Stellantis and General Motors in the pick-up market, which is rapidly shifting to electric....
...For example, US carmaker General Motors has committed to selling only electric vehicles by 2035, presenting its legal team with many challenges....
...Utilities have long been dependable motors of Warren Buffett’s Berkshire Hathaway conglomerate, turning out steady profits at rates of return approved by regulators....
...Tesla, General Motors and Rivian all reported strong US sales and deliveries for EVs during the second quarter, as did BYD in China....
...The future appeared bright for Shanghai electric vehicle start-up Aiways when it was founded in 2017....
...Volvo will integrate casting into its third generation of electric vehicles later this decade....
...The company has sought to capitalise on the shift to electric cars by developing ultrarapid charging hubs for these types of vehicles....
...An independent panel revealed that Daihatsu Motor, a subsidiary of Toyota Motor, had been cheating on safety and quality tests for over 30 years, delivering a blow to the auto group’s reputation — the most...
...Ford’s F-150 Lightning electric truck starts from $42,000, while General Motors has launched an electric Hummer, which starts from $80,000 and weighs almost five tons....
...urgency to foster industrial momentum amid challenges from the arrival of electric vehicles....
...While the cost to make lithium-ion batteries has plummeted, allowing electric car sales to take off in recent years, the bare bones of the technology have remained little changed since commercialisation....
...Apollo and Bird’s second-lien lenders have agreed to provide $25mn in financing to keep the motor running while it restructures in court....
...Across town, the electric-truck maker has opened a high-end showroom in New York’s Meatpacking District. The storefront is a 10-minute walk from Lucid Motors’ showroom in the same trendy hamlet....
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