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Lucid Motors slashed its 2025 production forecast to 18,000 vehicles on Wednesday, marking the second consecutive cut in three months as the Saudi-backed luxury EV maker struggles with supply chain disruptions and collapsing post-tax-credit demand. Interim CEO Marc Winterhoff told Reuters the company would hit the lower end of its August guidance range of 18,000-20,000…
UK Chancellor Rachel Reeves is reportedly considering a 3p-per-mile tax on electric vehicle drivers in next week’s Autumn Budget, according to The Times. The proposed pay-per-mile charge would help offset a massive decline in fuel duty revenue as British drivers increasingly switch from petrol and diesel vehicles to EVs. The move comes as the UK…
U.S. motor vehicle sales plummeted in October 2025 as the elimination of federal EV tax credits sent electric vehicle demand into freefall and broader economic uncertainty kept car shoppers away from dealerships. The data reveals the immediate aftermath of one of the most significant policy shifts in American automotive history. Light vehicle sales decreased 6.5%…
Automakers shipping vehicles to the United States could face $200 to $300 per vehicle in additional costs, the CEO of major car carrier Wallenius Wilhelmsen warned Wednesday, as the company moves to pass new U.S. port fees onto customers. The announcement comes despite a late-October trade agreement between Presidents Trump and Xi that was supposed…
Tesla shareholders face an unprecedented decision Thursday as they vote on CEO Elon Musk’s nearly $1 trillion compensation package—with Board Chair Robyn Denholm warning that rejecting it could trigger Musk’s departure and send the company’s stock into freefall. The vote, taking place at Tesla’s annual meeting on November 6, has divided major institutional investors and…
BYD has overtaken Tesla in the United Kingdom’s electric vehicle market, marking a stunning reversal in one of Europe’s largest markets for plug-in cars. The Chinese manufacturer registered almost seven times more new cars than Tesla last month, according to data released Wednesday by the UK’s Society of Motor Manufacturers and Traders (SMMT). The shift…
Rivian Automotive posted better-than-expected third-quarter earnings Tuesday, reporting a narrowed adjusted loss and positive gross profit for the second time this year. But the electric vehicle maker’s stock surge couldn’t mask the harsh reality waiting just beyond the quarterly numbers: October EV sales plummeted 43% compared to the same month last year, according to automotive…
The European Commission will announce a new regulatory category for affordable small electric vehicles in December, aiming to enable manufacturers to produce EVs priced between €15,000 and €20,000 ($16,000-$21,000) as Chinese competitors continue gaining market share with lower-cost models. European Commissioner for Industry Stephane Sejourne confirmed the timeline during the Automotive Industry D
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