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NIO is making headlines with its projected record-high vehicle deliveries in May. The Chinese electric-vehicle (EV) maker’s shares surged by 10% in Hong Kong, reaching 42.10 Hong Kong dollars (US$5.38), reflecting strong investor confidence, according to the WSJ. Record-Breaking Deliveries Expected NIO’s performance in May is grabbing attention with expectations of record-high deliveries. The Shan
Jeep has unveiled its first electric model for the US, the Wagoneer S, a premium SUV with an estimated 300 miles of range. The Launch Edition, the only trim announced so far, starts at $71,995 and goes on sale this fall. More affordable versions will follow. What’s New with the Wagoneer S? The Wagoneer S…
Lucid Motors, the luxury electric vehicle (EV) company, is cutting about 400 jobs as the EV industry faces slow growth. According to a recent SEC filing, this layoff round will affect 6% of Lucid’s staff by the end of October, with most layoffs impacting California employees, according to SFGate. Layoffs to Hit All Levels In…
Feds Hold Hyundai Accountable for Child Labor The U.S. Labor Department has filed a lawsuit against Hyundai for using child labor in its Alabama supply chain, reports The NY Times. This includes allegations that a 13-year-old girl worked up to 60 hours a week making car parts. The suit, filed in Montgomery, Ala., claims Hyundai…
Ford and GM’s leaders disagree on the future role of hybrid vehicles Ford’s CEO, Jim Farley, argues hybrids should be viewed as a viable long-term solution, while GM’s CEO, Mary Barra, considers them a temporary step towards full electrification, according to Reuters. Hybrid Vehicles: The Debate Jim Farley wants the industry to stop seeing hybrids…
KPMG’s recent study shows that even with the same price and features, most Americans still favor standard gas vehicles over electric or hybrid cars. Despite the hype around electric vehicles (EVs), the study found that only one-fifth of U.S. consumers would choose an EV over traditional gas-powered or hybrid vehicles, reports Reuters. Consumers Stick to…
Reuters reports that Tesla has been tracking chronic flaws and failures in its vehicles’ steering and suspension parts for years, according to company documents dated between 2016 and 2022. Despite this knowledge, the electric car maker has sought to blame drivers for these issues, claiming vehicle “abuse” rather than acknowledging defects. Premature Part Failures and…
According to a recent Bloomberg report, the sluggish start to US electric vehicle (EV) sales in 2024 may not be as concerning as it initially appears. While some indicators point to a potential slowdown, others suggest an industry on the verge of its next growth spurt. Mixed Signals in Q1 2024 In the first quarter…
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