More efficient manufacturing, falling battery costs and intense competition are lowering sticker prices for battery-powered models to within striking distance of gasoline cars.
Automakers and dealers are starting to offer discounts, low-interest loans and other incentives to lure buyers as the supply of cars grows.
The president’s move to protect strategic manufacturing sectors from low-cost competition aims to increase jobs, but consumers might not like the costs.
The president’s move to protect strategic manufacturing sectors from low-cost competition aims to increase jobs, but consumers might not like the costs.
Electric vehicles shouldn’t be a luxury item, but Biden’s tariffs mean they may remain so.
Automakers in the United States and their supporters welcomed President Biden’s tariffs, saying they would protect domestic manufacturing and jobs from cheap Chinese vehicles.
Manufacturers like BYD, Tesla and Li Auto are cutting prices to move their electric cars. For gasoline-powered vehicles, the surplus of factories is even worse.
Analysts expect first-quarter results to show a decline in profits, fueling worries that competitors will grab a bigger slice of slowing electric car sales.
The company’s directors are asking shareholders to again approve the multibillion-dollar compensation plan and to move the company’s registration to Texas, from Delaware.
Elon Musk’s electric car company reported a drop in sales in the first three months of the year, and its profit margin has been falling for months.