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Federal agents detained 475 workers at Hyundai’s $12.6 billion electric vehicle battery plant site near Savannah, Georgia, in what authorities described as the largest single-site immigration raid in the history of Homeland Security Investigations (HSI), reports The Atlanta Journal-Constitution. Largest Operation in HSI History Steven Schrank, special agent in charge of HSI Atlanta, said the…
Electric vehicle (EV) sales are surging across the U.S. as consumers race to take advantage of the federal government’s $7,500 tax credit before it expires on September 30, 2025. Dealers in EV hot spots like Colorado report unprecedented demand, with steeply discounted lease offers drawing in new and repeat buyers alike, reports the WSJ. Deep…
Porsche is ending in-house battery cell production at its Cellforce subsidiary and converting the unit into a dedicated R&D operation, citing insufficient volumes, lack of economies of scale, and tougher conditions in the U.S. and China. Roughly 200 of 286 jobs at the Kirchentellinsfurt site are expected to be cut, with some potentially absorbed by…
Lucid Motors will move forward with a rare 1-for-10 reverse stock split, set to take effect on September 2, in an effort to boost the electric vehicle (EV) maker’s struggling share price, according to a Barron’s report. The move comes as Lucid stock trades near record lows and far below early Wall Street expectations for…
California is preparing to revive its own electric vehicle (EV) subsidies after the Trump administration dismantled federal support, eliminating tax credits and rolling back zero-emission mandates. State officials this week submitted a report to Gov. Gavin Newsom detailing strategies to sustain EV adoption in the absence of federal backing, as reported by the Los Angeles…
Hybrid vehicles have overtaken electric vehicles in California’s auto market share for the second quarter of 2025, according to the California New Car Dealers Association’s Q2 Auto Outlook Report. The report shows hybrids gaining momentum while EV registrations continue to slump, challenging the state’s long-term zero-emission vehicle targets. Hybrid Vehicle Registrations Climb as EV Market…
Tesla stock (TSLA) is regaining momentum after a rocky first half of the year. Following weeks of losses that pushed shares below key technical benchmarks, the electric vehicle leader has tightened up, reclaimed support at major moving averages, and landed back on the Investor’s Business Daily (IBD) Leaderboard alongside fellow “Magnificent Seven” member Nvidia (NVDA).…
Tesla stock slipped Wednesday even after reports suggested CEO Elon Musk is likely abandoning plans to form a new U.S. political party, a development that might otherwise have eased investor concerns tied to his political involvement. According to The Wall Street Journal, Musk has been “quietly pumping the brakes” on launching the so-called “America Party,”…
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