Autos
Elon Musk says Tesla will lay off 3.5% of total workforce as ex-employees sue company
Tesla CEO Elon Musk. Patrick Pleul | AFP | Getty Images Elon Musk has sought to clarify how many Tesla workers will lose their jobs, following the launch of a lawsuit by former employees who claim the automaker breached U.S. labor laws. Speaking at an event hosted by Bloomberg Tuesday, Musk said Tesla would reduce […]
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How GM, Ford and Tesla are tackling the national EV charging challenge
More people than ever are buying electric vehicles. There are about 2 million EVs on the road in the U.S., up six-fold since 2016, but the number of EVs is still a very small slice of the more than 280 million vehicles in operation. Some factors, such as upfront cost and battery range, are largely […]
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Jokowi lays out his pitch for why Elon Musk should invest in Indonesia
Elon Musk, here seen at an event in New York in early-May, is being aggressively courted to produce his electric vehicles “end to end” in resource-rich Indonesia. Angela Weiss | AFP | Getty Images President Joko Widodo denied that Indonesia has turned protectionist during his tenure, saying the gates remain open to all players — […]
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Inflation and recession fears are squeezing some industries more than others
A woman pushes a shopping cart through the grocery aisle at Target in Annapolis, Maryland, on May 16, 2022, as Americans brace for summer sticker shock as inflation continues to grow. Jim Watson | AFP | Getty Images People still appear willing to shell out to travel, go to the movies and have a drink […]
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How the massive EV transition is starting in the car rental industry
Tesla Model 3 electric vehicles at a Hertz airport location. Photo by E.R. Davidson Not long after Hertz Global Holdings emerged from bankruptcy last summer, reorganized after the Covid-19 pandemic stalled the entire car rental industry, the Estero, Florida-based company boldly announced a $4.2 billion deal to purchase 100,000 Tesla fully electric vehicles (EVs) by […]
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Elon Musk had a bad week
Elon Musk pauses and looks down as he speaks during a press conference at SpaceX’s Starbase facility near Boca Chica Village in South Texas on February 10, 2022. Jim Watson | AFP | Getty Images In what’s been a particularly eventful year for Elon Musk, this was a decidedly rough week. Tesla’s stock, which has […]
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GM is raising the price of its electric Hummer starting this weekend
GMC Hummer EV Edition 1 Michael Wayland | CNBC GM said Friday that it is increasing the price of its electric Hummer by $6,250, effective Saturday. The company blamed higher prices for parts, technology and logistics. All reservations placed before Saturday are exempt from the increase, the company said. The Hummer EV pickup truck currently […]
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Cost to finance a new car hits a record $656 per month — and auto shoppers could pay even more with latest Fed rate hike
Fg Trade | Istock | Getty Images Shortages, interest rates are pushing up prices “Simply put, there is not enough supply of sellable vehicles to support demand,” said Jeff Schuster, LMC Automotive’s president of Americas operations and global vehicle forecasts, in a forecast published jointly with J.D. Power. In addition to a persistent shortage of […]
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Tesla hikes U.S. prices across car models
Interior view of a Tesla showroom on April 26, 2022 in New York City. Kena Betancur | Corbis News | Getty Images Tesla raised prices for all its car models in the United States, its latest price hike amid ongoing global supply-chain issues. The electric carmaker increased its Model Y long-range price to $65,990 from […]
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GM investing $81M to hand build ultra-exclusive Cadillac Celestiq electric cars
Front driver’s side view of the Celestiq show car, which GM is expected to unveil in late-July. GM DETROIT – General Motors on Wednesday said it is investing $81 million at its global design and technology campus in suburban Detroit to hand build the upcoming Cadillac Celestiq – a new electric flagship car for the […]
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