Electric vehicles are back in the spotlight this week, with major automakers — namely those owned by the Hyundai Motor Co. — touting their growing sales of the cleaner cars. Xiaomi, Tesla $TSLA’s newest rival in China, is building — and selling — the new SU7 like hotcakes. And California was proud to announce that its EV charging infrastructure is growing, even as the Golden State’s customers ditch Tesla and rebuke Elon Musk.
Speaking of Tesla, it’s been another wild week for the Austin, Texas-based company. Musk visited China over the weekend and returned with what appears to be a major win for Tesla, sending shares climbing. Then he laid off most of Tesla’s Supercharger team, said goodbye to at least three executives, and announced a slower expansion of the ultra-fast chargers. The division was a major deal for both Tesla and the wider EV market.
Meanwhile, Carvana is back on top this week, with a stock surge after the used car retailer shot past Wall Street’s expectations. It’s another sign of major growth for the company, which was rumored to be near-bankruptcy in late 2022.
Plus, the U.S. will require all passenger cars and light trucks to include automatic emergency brakes (AEB) by 2029. Federal authorities are also investigating Ford $F Motor Co.’s BlueCruise after two fatal crashes earlier this year.
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Carvana stock hit its highest level in years on Thursday after the used car retailer reported record results and made a profit last quarter.
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The federal government will require all passenger cars and light trucks to include automatic emergency brakes (AEB) by 2029, in a push to reduce car crashes and accidents.
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Tesla $TSLA’s sudden move to lay off most of its Supercharger division shocked the electric vehicle industry, halted construction plans, and left pretty much anyone paying attention baffled.
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U.S. auto safety regulators have launched a new investigation into Ford $F Motor Co’s driver assistance technology after two electric Mustang SUVs crashed into stationary cars, resulting in at least two deaths.
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Despite recording weaker sales in the United States last month, Hyundai Motor North America and Kia America saw interest in their electric offerings grow.
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Despite dedicating years of innovation and research toward convincing consumers to buy electric vehicles, automakers are still grappling with a lack of charging infrastructure across the United States. But California — a leader in EVs — says that isn’t too much of a problem for its residents.
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After years of Elon Musk bashing California, it seems that residents have had enough — and they’re ditching Tesla $TSLA.
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Getting into the car-making business, especially when it comes to electric vehicles, is no simple task — just ask Apple $AAPL. But Xiaomi, a Chinese technology giant known primarily for its smartphones, is notching milestone after milestone.
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Elon Musk has promised that Tesla $TSLA’s network of ultra-fast chargers will continue to expand — albeit more slowly — even after he axed the team behind the project.
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Just two weeks after Tesla $TSLA laid off at least 14,000 workers across the world, CEO Elon Musk is planning layoffs for hundreds of additional staffers — including the bulk of the company’s Supercharger team and several executives.
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After Elon Musk made a surprise visit to China on Sunday, Tesla $TSLA has reportedly overcome a major hurdle in its goal to introduce its driver assistance technology in the world’s largest auto market.
