Tesla Q2 Earnings Report Reveals 45% Profit Drop Amid Weak E.V. Sales
The company led by Elon Musk is selling fewer electric cars, and its big bets on driverless taxis and artificial intelligence could take many years to pay off.
Ford Will Make Gasoline Trucks Not Electric Vehicles in Canada Plant
Ford will build large pickups at a Canadian factory that it had previously slated to produce electric vehicles, sales of which have slowed in recent months.
Biden Offers $1.7 Billion to Help Factories Build Electric Vehicles
A Jeep plant that closed last year will be among those that will benefit from federal grants meant to help automotive manufacturers and protect jobs.
As the E.V. Revolution Slows, Ferrari Enters the Race
Growth in electric vehicle sales has been slowing, but the Italian luxury carmaker is stepping up investment and setting ambitious targets.
New Factories and Jobs Are Not Enough to Stem France’s Far Right Surge
President Emmanuel Macron’s promise of re-industrialization in northern France has helped stimulate the economy, but “people feel defeated and angry.”
China Dangled Rebates to Lure People to Spend. It’s Not Enough.
China’s leaders vowed to kick-start spending by offering subsidies for households to buy cars and appliances. But many consumers aren’t biting.
The Big Number: $5 Billion
The amount Volkswagen said it planned to invest in the electric vehicle maker Rivian.
Volkswagen Will Invest Up to $5 Billion in EV Maker Rivian
VW and Rivian, a maker of electric trucks that has struggled to increase sales and break even, will work together on software and other technologies.
Electric Cars Are Suddenly Becoming Affordable
More efficient manufacturing, falling battery costs and intense competition are lowering sticker prices for battery-powered models to within striking distance of gasoline cars.
Car Deals Vanished During the Pandemic. They’re Coming Back.
Automakers and dealers are starting to offer discounts, low-interest loans and other incentives to lure buyers as the supply of cars grows.