Tag: CAR

  • Exclusive: EU drafts plan to allow electric cars with combustion engine

    Brussels proposes an exception for electric fuel cars from 2035 Germany is still examining EU draft proposal Berlin sees the technological state as problematic Goal to make a decision by Thursday BERLIN/BRUSSELS, March 21 (Reuters) – The European Commission has drawn up a plan to allow the sale of new combustion engine cars after 2035 […]

  • Stocks wobble as Jerome Powell returns to Congress

    US stocks teetered between small gains and losses on Wednesday as investors analyzed a second day of congressional testimony from Federal Reserve Chairman Jerome Powell and further data suggesting the job market remains hot. The S&P 500 rose 5.64 points, or 0.1%, to 3992.01, while the Nasdaq Composite rose 45.67 points, or 0.4%, to 11576.00. […]

  • Rivian plans to sell $1.3 billion in bonds to bolster capital, shares fall

    SAN FRANCISCO, March 6 (Reuters) – Rivian Automotive (RIVN.O) plans to sell bonds worth $1.3 billion, it said Monday, as declining demand and high costs ease the cash crisis surrounding electric vehicle manufacturers sharpen. Shares in Rivian fell nearly 7% in after-hours trading. Initial investors will have an option to purchase an additional $200 million […]

  • Tesla slashes prices of Model S and Model X variants in US – website

    March 5 (Reuters) – Tesla Inc (TSLA.O) has lowered the prices of its Model S and Model X vehicles in the United States, the website revealed, days after CEO Elon Musk said recent price cuts on other models fueled the demand. Tesla’s Model S car prices were slashed by $5,000. The base Model S version […]

  • Mexico cannot match US incentives for proposed Tesla battery factory, minister says

    MEXICO CITY, March 3 (Reuters) – Mexico would not be able to match the incentives offered by a US law to curb inflation if Tesla Inc builds a battery factory in the country, Mexico’s finance minister said on Monday Friday, days after Tesla announced construction of a “gigafactory” there. Tesla (TSLA.O) has not confirmed whether […]

  • Elon Musk’s ‘Master Plan’ for Tesla Fails to Charge Investors

    March 2 (Reuters) – Shares of Tesla Inc (TSLA.O) fell about 7% on Thursday, after Chief Executive Elon Musk and the team’s four-hour presentation failed to impress investors looking for an announcement about an affordable electric car and a plan with a concrete timeline. Musk and more than a dozen executives presented new plans to […]

  • Musk: ‘AI causes me stress’

    DETROIT, March 1 (Reuters) – Elon Musk has often clashed with securities regulators and road safety authorities, but there is one area the government should regulate now, according to the Tesla and Twitter chief: artificial intelligence. “AI is stressing me out,” Musk said toward the end of a more than three-hour presentation to Tesla investors […]

  • Tesla vows to cut EV production costs in half, Musk keeps affordable car plan a secret

    SAN FRANCISCO, March 1 (Reuters) – Tesla Inc (TSLA.O) will cut assembly costs in half in future generations of cars, engineers told investors Wednesday, but Chief Executive Elon Musk did not reveal when it will debut the long-awaited affordable electric car . Shares fell more than 5% in after-hours trading following the company’s investor day […]

  • How Elon Musk missed his goals of delivering affordable cars

    March 1 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk is expected to lay out the details of affordable electric cars at the company’s Investor Day in Texas on Wednesday, where he unveiled the EV’s “Master Plan 3” maker will reveal. Musk said making an affordable car has been his “dream” since joining the […]

  • GM is cutting hundreds of jobs to cut costs

    Feb 28 (Reuters) – General Motors Co (GM.N) is cutting hundreds of board-level and salaried jobs to cut costs and streamline operations, a person briefed on the matter told Reuters on Tuesday. Global reductions are in the “low hundreds,” the person said. Arden Hoffman, GM’s chief people officer, said in a letter to employees Tuesday […]