Lucid Motors Slashes roduction forecast, blaming supply chain chaos.
The maker of luxury electric cars that hopes to challenge Tesla struggled to get parts and build vehicles in the second quarter.
Energy Department will lend G.M. and LG $2.5 billion to build battery factories.
The loan will help the automaker and its supplier build electric vehicle battery factories in Ohio, Tennessee and Michigan.
Tesla will spend more to increase production at two new factories.
Tesla said it expected capital expenditures to be $6 billion to $8 billion in 2022, up from an April forecast of $5 billion to $7 billion.
Tesla Profit Falls in Second Quarter
The world’s largest maker of electric cars struggled with production problems in China.
Electric Car Sales Climb Sharply Despite Shortages
A scarcity of semiconductors and raw materials held back production, but buyers remain enthusiastic.
Advanced Batteries Move From Labs to Mass Production
Makers of batteries that could charge in a few minutes are setting up assembly lines, bringing the technology a big step closer to auto showrooms.
Tesla Sales Slow as the Pandemic Hobbles Production
The decline in deliveries by the electric carmaker in the second quarter was the first drop since the beginning of 2020. The main reason was factory shutdowns in China.
Tesla’s Aura Dims as Its Plunging Stock Highlights the Risks It Faces
Production problems in China and Elon Musk’s pursuit of Twitter are leading investors to wonder whether the electric car company is worth as much as they thought.
The Tesla Effect: Snowmobiles, Boats and Mowers Go Electric
They’re quieter and better for the climate. But snow and water create new technological challenges for designers.
Lucid Motors sticks to its production target despite a slow quarter.
The Tesla challenger said it continued to have problems finding needed parts.