Electric vehicles
Nikola CEO Mark Russell to retire at the end of the year
Mark Russell, chief executive officer of Nikola Corp., left, during a media briefing at the unveiling of the Iveco-Nikola electric truck plant in Ulm, Germany, on Wednesday, Sept. 15, 2021. Andreas Grebert | Bloomberg | Getty Images Nikola CEO Mark Russell will retire at the end of the year, the company announced Wednesday. Russell will […]
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Buying a car and want to go electric? Inflation Reduction Act extends $7,500 tax credit — but with price, income caps
David Madison | Photodisc | Getty Images A federal tax break that’s available to car buyers for going electric may work differently starting next year. Under the Inflation Reduction Act — which received Senate approval on Sunday and is expected to clear the House this week — a tax credit worth up to $7,500 for […]
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Lordstown Motors expects limited production and deliveries of electric pickup in 2022
Workers install door hinges to the body shell of a prototype Endurance electric pickup truck on June 21, 2021 at Lordstown Motors assembly plant in Ohio. Michael Wayland | CNBC Embattled electric truck startup Lordstown Motors on Thursday reaffirmed plans to begin commercial production of its first vehicle this quarter and roll out the first […]
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Fisker stays on track to start production of its electric Ocean SUV this year, cites 56,000 reservations
Henrik Fisker stands with the Fisker Ocean electric vehicle after it was unveiled at the Manhattan Beach Pier ahead of the Los Angeles Auto Show and AutoMobilityLA on November 16, 2021 in Manhattan Beach, California. Patrick T. Fallon | AFP | Getty Images California-based EV startup Fisker said Wednesday it now has more than 56,000 […]
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EV maker Lucid again cuts production targets as logistics challenges cripple output
Lucid Motors CEO Peter Rawlinson poses at the Nasdaq MarketSite as Lucid Motors (Nasdaq: LCID) begins trading on the Nasdaq stock exchange after completing its business combination with Churchill Capital Corp IV in New York City, New York, July 26, 2021. Andrew Kelly | Reuters Electric vehicle maker Lucid Group again cut its production targets […]
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Nikola shareholders approve measure to issue new stock over ex-CEO Trevor Milton’s objection
Nikola Motor Company Source: Nikola Motor Company Electric truck maker Nikola has finally won shareholder approval to issue new stock, the company said on Tuesday. Nikola has been trying for two months to win enough votes to overcome the objection of its since-departed founder, who previously voted his 20% interest in Nikola against the proposal. […]
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Nikola to acquire battery-pack supplier Romeo Power in $144 million deal
Nikola Motor Company Two truck Source: Nikola Motor Company Electric heavy truck maker Nikola said Monday that it struck a $144 million deal to acquire battery pack supplier Romeo Power, giving the company control over a key part of its supply chain. The all-stock transaction values Romeo at 74 cents per share, a 34% premium […]
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Shares of Chinese EV makers Nio, Xpeng and Li Auto rise as July car deliveries jump
Xpeng said it delivered 11,524 in July, a rise versus the same time last year, but slipping from June’s figure. Xpeng had the highest deliveries out of its closest rivals Nio and Li Auto in July. Xpeng said it will begin accepting reservations for its new G9 SUV in August 2022. Chen Dongqiu | Visual […]
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Ford CEO offers more clues about automaker’s ambitious electric vehicle plans
Electric vehicle batteries are in short supply, and costs for materials such as nickel and cobalt are surging. Yet legacy automaker Ford Motor says it plans to be profitably building millions of EVs a year in just four years. This week, the Detroit automaker gave investors a little more clarity about how it plans to […]
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Ford Motor will report its second-quarter results after the bell
Ford CEO Jim Farley at the company’s Dearborn, Michigan, plant where it’s building the electric F-150 Lightning on April 26, 2022. CNBC | Michael Wayland Ford Motor Company will report its second-quarter earnings shortly after the U.S. markets close today. Here’s what Wall Street is expecting. Adjusted earnings per share: $0.45, according to Refinitiv estimates. […]
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