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Tag: CARM1

  • Manchin threatens to sue US Treasury over EV tax credit rules

    WASHINGTON, March 29 (Reuters) – Senate Energy Committee Chairman Joe Manchin said on Wednesday he could go to court after the US Treasury Department released guidelines on battery procurement for electric vehicle tax credits later this week. “If it goes off the rails” and goes against the intent of climate legislation passed in August, “I […]

  • U.S. battery sourcing guidelines to cut some EV tax credits — official

    WASHINGTON, March 29 (Reuters) – The long-awaited guidance from the US Treasury Department regarding battery procurement requirements for electric vehicle tax credits expected by Friday will result in fewer vehicles receiving full or partial credits, a US official told Reuters. In December, the Treasury Department decided not to release its proposed battery procurement guidelines until […]

  • St. Louis is suing Hyundai and Kia for auto theft, joining other US cities

    WASHINGTON, March 27 (Reuters) – The city of St. Louis, Missouri, said Monday it is joining several major US cities in suing Korean automakers Hyundai Motor (005380.KS) and Kia Corp (000270.KS) over the not installing anti-theft technology in millions of their vehicles. The lawsuit filed in U.S. District Court in Missouri follows similar actions by […]

  • 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 […]

  • 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 […]

  • Nissan raises global EV targets; to increase localization in the US

    TOKYO, Feb. 27 (Reuters) – Nissan Motor Co Ltd (7201.T) on Monday raised its sales targets for electrified cars, saying it will increase powertrain production in the United States as it appears to be catching up in a segment dominated by newer automakers such as Tesla Inc (TSLA.O). The Japanese automaker pioneered electric vehicles (EVs) […]

  • Lucid sees EV production disappointing in 2023 as orders fall amid declining demand

    22 February (Reuters) – (This story from 22 February has been corrected to change the period from Q2 to Q3 in paragraph 8) Lucid Group Inc (LCID.O) predicted on Wednesday that 2023 production will fall far short of analyst expectations and reported a large drop in orders in the fourth quarter amid weaker demand, driving […]

  • Jaguar Land Rover opens three European self-driving tech hubs

    LONDON, Feb. 21 (Reuters) – Luxury car maker Jaguar Land Rover said on Tuesday it is opening three new tech hubs in Europe to develop autonomous vehicle technologies as part of its partnership with Silicon Valley artificial intelligence company Nvidia (NVDA.O) . The hubs in Munich, Bologna and Madrid will develop self-driving systems for JLR’s […]

  • Lithium miner Sigma responds to report that Tesla is considering a buyout

    Feb 17 (Reuters) – US-listed shares of Sigma Lithium Corp were up 21% in extended trading on Friday after Bloomberg News reported that Tesla Inc (TSLA.O) is considering a takeover of the Canada-based battery metal miner. Tesla has spoken to potential advisers about a bid, the report said, citing people with knowledge of the matter, […]