Tesla eliminates 9 percent of its workforce, cutting costs

2018 Tesla Model S and 2018 Tesla Model XTesla's been in "production Hell" for the past 9 months as it attempts to ramp up the Model 3. On Tuesday Tesla CEO Elon Musk took to Twitter to announce the Silicon Valley automaker is letting go 9 percent of its workforce. Musk noted that no production workers would be let go to ensure that Model 3 production would not be affected by the cuts...

Quantum computers could make specialized batteries for Volkswagen EVs

VW to use quantum computers in electric-car battery developmentQuantum computers could analyze and help build highly specialized electric vehicle batteries in the future, Volkswagen announced this week. Using the highly complex computing tech, researchers simulated industrially relevant molecules in EV batteries that could help shape the next generation of compounds for use in green cars. Researchers said...

Chinese electric-car builder Byton says it raised $500 million

Byton SUV conceptA $500 million infusion from investors including an automaker and a major battery supplier could help Chinese electric-car startup Byton put its cars on the road by the end of next year, the company said Monday. Byton said that its big investors—Chinese state-owned automaker FAW Group, Chinese lithium-ion battery developer CATL, and Chinese...