Mercedes-Benz Shares Tumble After Profit Warning Due to Weak China Demand
Mercedes-Benz, the German luxury automaker, has seen a significant drop in its share price following a profit warning issued on September 20, 2024. The company cited weakening demand in China as the primary reason for the downgrade, which has had…
Lucid Motors Expands to Detroit, Tapping Local Talent for EV Growth
Lucid Motors, a Silicon Valley-based electric vehicle (EV) startup, has officially opened a new office in Southfield, Michigan, aiming to tap into Detroit’s rich automotive talent pool and boost its operations. This strategic move comes as Lucid prepares for the…
Rivian Rolls Out Tri-Motor EVs: A New Era for Electric Trucks and SUVs
Rivian is making waves in the electric vehicle (EV) market with its latest tri-motor configuration for its trucks and SUVs. The company is now shipping these models, offering an extra power boost over the dual-motor version. This new setup features…
Volkswagen’s Wolfsburg Plant Gears Up for EV Production
Volkswagen is making big moves to get its Wolfsburg plant ready for electric vehicle (EV) production. The company has appointed Uwe Schwartz, who successfully converted the Emden plant to EV-only production, as the new manager of the Wolfsburg facility. This…
Nio Denies Plans to Take Over Audi Plant, Remains Cautious on Fixed Assets
Nio, the Chinese electric vehicle (EV) manufacturer, has dismissed rumors that it plans to acquire the Audi Brussels car plant. The company’s CEO, William Li, emphasized Nio’s cautious approach to investing in fixed assets, except for battery swap stations. This…
California’s Greenhouse Gas Emissions Drop Thanks to EVs
California’s greenhouse gas emissions dropped by about 2.4% in 2022, a promising sign that the state’s carbon footprint is decreasing even as the economy rebounds from the COVID-19 pandemic. This news, announced by the California Air Resources Board, highlights the…
VinFast’s Second-Quarter Loss Deepens Amid Aggressive Expansion
Vietnamese electric-vehicle maker VinFast reported a deeper second-quarter loss on Friday, driven by rising costs linked to its ambitious Asia expansion, although its revenue remained on a rising trend, according to its exchange filing. The company, which started delivering cars…
New Jersey Expands EV Incentives with Charge Up+ Program
New Jersey’s Charge Up program has just gotten a major boost with the introduction of the Charge Up+ initiative, aimed at making electric vehicles (EVs) more accessible to lower-income residents. The state is doubling down on its commitment to promote…
Volkswagen’s Xinjiang EV Plant Audit Falls Short of Standards
Volkswagen, a major player in the electric vehicle (EV) market, is facing scrutiny over its operations in China’s Xinjiang region. An audit of the company’s jointly owned site there has failed to meet key aspects of international standards, according to…
Germany Mulls Support for VW Amid EV Transition Challenges
Germany’s government is exploring ways to support Volkswagen as the automaker faces hurdles in its shift to electric vehicles, according to Reuters. This comes as VW grapples with high costs, low productivity, and fierce competition in the EV market. Government…
Tesla Unveils Stylish Puddle Lights for Model 3/Y Owners
Tesla has introduced a new accessory for Model 3 and Model Y owners – projection puddle lights that display the Tesla wordmark on the ground when you open your car door. According to a tweet by Sawyer Merritt, these lights…
Mercedes-Benz Exits China’s EV Venture as Luxury Market Cools
Mercedes-Benz is pulling out of China’s electric vehicle market, selling its remaining stake in premium EV maker Denza. This move comes as luxury spending in the world’s largest auto market takes a hit, according to a recent report from The…
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