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Lucid Motors CEO Marc Winterhoff has urged Congress to preserve the $7,500 federal electric vehicle (EV) tax credit, warning that its elimination could cripple startups like his in a competitive market. As the Senate prepares to vote on a bill that would end the credit by mid-2025, Winterhoff’s plea underscores the high stakes for emerging…
On Saturday, June 28, 2025, Elon Musk, CEO of Tesla Inc., publicly condemned the U.S. Senate’s revised tax bill, which accelerates the elimination of the $7,500 electric vehicle (EV) tax credit. Musk’s sharp criticism, posted on his social media platform X, highlights the bill’s potential to harm the EV industry, a cornerstone of clean energy…
Lotus, the iconic British automaker, is poised to halt production at its historic Hethel, Norfolk factory after 59 years, with plans to shift manufacturing to the United States, according to a report by Autocar. This strategic pivot, driven by U.S. tariffs and a challenging electric vehicle (EV) market, could reshape Lotus’s future as it leans…
Chinese automaker BYD is set to triple its electric bus and truck production in Europe with a new $94 million facility in Komarom, Hungary, a move that strengthens Hungary’s position as a hub for Chinese electric vehicle (EV) investment. Announced on June 27, 2025, by Hungarian Foreign Minister Peter Szijjarto, the plant will increase BYD’s…
China has tied a tentative deal on minimum import prices for French cognac to progress in negotiations over EU tariffs on Chinese-made electric vehicles (EVs), creating a complex trade standoff with significant implications for the EV industry. This development, reported by Reuters, underscores the broader trade tensions between Beijing and Brussels, with EV manufacturers and…
Volex, a leading cable manufacturer, reported a 25% profit increase for the year ending March 2025, driven by soaring demand for its electric vehicle (EV) chargers. Despite concerns over U.S. tariffs under President Trump, the company’s strategic global operations and strong client base, including Tesla, fueled its financial success, pushing shares to a nine-month high,…
Xiaomi Corp.’s stock soared 8% to an all-time high after its $35,360 YU7 electric SUV, unveiled on June 26, 2025, drew an impressive 289,000 pre-orders in just one hour, signaling strong demand in China’s competitive EV market. Priced at 253,500 yuan, the YU7 undercuts Tesla’s Model Y by about $1,400, positioning Xiaomi as a formidable…
The dream of fully autonomous cars continues to stall, leaving electric vehicle (EV) enthusiasts and industry watchers intrigued yet cautious. Despite early optimism following the US military’s Darpa challenge two decades ago, progress toward Level 5 self-driving cars—capable of driving anywhere in all conditions—has hit significant hurdles. A Bloomberg chart projecting automation levels through 2
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