Tag: electric vehicles

Ferrari’s First Electric Car, the Luce, Sells for Record $40 Million

Ferrari's first fully electric car, the polarizing Luce, has sold for $40 million at auction, far exceeding its original $640,000 list price.

Volvo Cars Sales Slip 4% Over Three Months as China Demand Weakens

Volvo Cars reported a 4% sales decline over the three months through July, weighed down by weakening demand in China amid intensifying competition.

Ford Unveils Fathom Electric Pickup Starting at $28,000 on New EV Platform

Ford has unveiled the Fathom electric pickup starting at about $28,000, the first vehicle built on its new Universal Electric Vehicle platform.

Lucid Misses Second-Quarter Targets, Delays Affordable EVs to 2027 Amid Operational Reset

Lucid Group missed second-quarter expectations and pushed its affordable EV launch to late 2027 amid an operational reset targeting $1.4 billion in savings

Nissan Returns to Profit but Warns of Persistent China and Middle East Challenges

Nissan reported a 3.8 billion yen quarterly profit, reversing a heavy loss, but warned of persistent challenges in China and the Middle East.

Rivian Trims 2026 Spending and Narrows Loss Guidance in Second-Quarter Results

Rivian scaled back its 2026 capital spending and narrowed its projected losses as the EV maker reported second-quarter results amid sector pressures.

Musk Rejects Report That Tesla May Sell China Business Amid SpaceX Merger Talk

Elon Musk has rejected a report that Tesla is weighing a sale of its China business amid speculation over a potential SpaceX merger.

Ford Raises Annual Guidance After Strong Quarter, Citing Robust Pricing and Resilient Demand

Ford lifted its full-year guidance after a second-quarter earnings beat, citing strong pricing and resilient demand. Shares rose about 4% on the news.

BMW to Cut Several Thousand Jobs in Germany Amid Rising Pressure from Chinese Rivals

BMW will cut as many as 8,000 jobs in Germany by 2027 under a voluntary redundancy programme, as pressure from Chinese EV rivals reshapes the auto sector.

Mercedes-Benz Cuts 2026 Sales Forecast as China Competition Reshapes Market

Mercedes-Benz lowered its 2026 sales forecast as CEO Ola Kallenius called intense China competition "a new reality" reshaping the world's largest car marke

Porsche Deepens Restructuring, Targeting 9,000 Job Cuts by 2035 Amid EV Slowdown

Porsche will eliminate around 9,000 jobs by 2035 after adding 5,000 more cuts, as weak EV demand and tough competition in China pressure the carmaker.

Piper Sandler Upgrades Rivian and Mobileye, Citing Edge Over Legacy Automakers

Piper Sandler has upgraded Rivian and Mobileye, citing a structural advantage over legacy automakers as the robotaxi market expands.

Tesla Suffers Worst Weekly Slump Since 2022 After Missing Quarterly Earnings

Tesla shares fell nearly 18% this week after a quarterly earnings miss and negative cash flow, marking the automaker's steepest weekly drop since 2022.

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