electric vehicles Automakers Pour $38 Billion Into US Battery Plants to Fuel EV Race Major automakers and suppliers invest over $38 billion to build massive battery factories across the United States. New federal tax credits accelerate this onshore manufacturing boom to shorten supply chains and secure EV production.
bmw BMW and Toyota Join Forces to Develop Hydrogen Fuel Cell Vehicles by 2025 BMW and Toyota are partnering to jointly produce hydrogen fuel cell vehicles as early as 2025. This collaboration allows both automakers to hedge their zero-emission investments while leveraging Toyota's deep experience with the technology.
rivian Rivian Boosts 2022 Loss Forecast to $5.45 Billion Amid Supply Chain Woes Rivian maintains its target of delivering 25,000 electric vehicles this year despite expecting an extra $700 million in cash burn. The automaker reports rising preorders and a Q2 revenue beat as it navigates inflation and recent layoffs.
rivian Rivian Beats Revenue Expectations Despite Raising Annual Loss Forecast Rivian reports stronger than expected Q2 revenue and growing vehicle demand, but increases its 2022 loss projection to $5.45 billion due to supply chain issues and inflation.
ford Ford Raises F-150 Lightning Prices Up to $8,500 Amid Rising Costs Ford is increasing the starting prices of its electric F-150 Lightning pickup by $6,000 to $8,500 due to surging material costs. The price hikes do not affect customers who have already ordered the vehicle.
elon musk Elon Musk Sells Nearly $7 Billion in Tesla Stock Ahead of Twitter Deal Deadline Tesla CEO Elon Musk sells 7.9 million shares worth $6.9 billion to prepare for a potential emergency closure of his $44 billion Twitter acquisition. Musk promises to buy back the Tesla shares if the social media deal falls through.
elon musk Elon Musk Sells Nearly $7 Billion in Tesla Shares Amid Twitter Deal Uncertainty Tesla CEO Elon Musk sells 7.9 million shares worth $6.9 billion to prepare for a potential emergency Twitter acquisition. Musk states he will buy back the Tesla stock if the social media deal falls through.
tesla Tesla Considers Ontario, Canada for Next North American Gigafactory A recent lobbyist registration reveals Tesla is actively engaging with the Ontario government to explore building a new advanced manufacturing facility. The move comes as the automaker looks to expand its global factory footprint beyond the headaches of its Shanghai plant.
tesla Tesla Targets Ontario for Next North American Gigafactory A recent lobbyist registration reveals Tesla is actively engaging with the Ontario government to build a new advanced manufacturing facility.
canoo Canoo Secures Survival Funding While Building a $1 Billion EV Sales Pipeline Pre-revenue electric vehicle startup Canoo survives a cash crunch and secures enough capital to last through 2022, thanks largely to a massive Walmart order.
canoo Canoo Secures Capital and Boosts Sales Pipeline Amid Ongoing Losses Electric vehicle startup Canoo reports over $1 billion in its sales pipeline and secures enough capital to last through 2022, despite posting a $164.4 million net loss in the second quarter.
tesla Tesla Lays Off 200 Autopilot Workers Despite Promises to Protect Hourly Jobs Tesla closes its San Mateo office and cuts approximately 200 hourly data-labeling workers from its Autopilot team, contradicting CEO Elon Musk's recent pledge to preserve hourly positions.
lfp batteries Expiring Patements Pave Way for Cheaper LFP Batteries in US Electric Vehicles Expiring patents for lithium-iron-phosphate batteries allow Western automakers to adopt the cheaper, safer technology that already dominates China. This shift promises to lower entry-level EV prices despite looming global lithium shortages.
rimac Croatian EV Maker Rimac Reaches $2.2 Billion Valuation With Unique Dual Strategy Rimac Group raises €500 million in a Series D round by combining high-end hypercar manufacturing with a lucrative B2B technology supply business. This complementary approach attracts major automakers like Porsche and sets the company apart from struggling EV startups.
tesla Tesla Raises Prices Across Entire Vehicle Lineup by Up to $6,000 Tesla increases the cost of its entire electric vehicle lineup, with the Model X seeing the highest jump of $6,000. The automaker attributes the ongoing price hikes to rampant inflation and severe supply chain constraints.