Tag: EF: BUSINESS LOADED
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US and Japan sign trade deal on battery minerals for electric vehicles
WASHINGTON, March 28 (Reuters) – The United States and Japan on Tuesday announced a trade deal on battery minerals for electric vehicles that is essential to strengthening their battery supply chains and giving Japanese automakers wider access to a new $7,500 US EV tax credit. The swiftly negotiated agreement prohibits the two countries from imposing […]
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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 […]
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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 […]
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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 […]
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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 […]
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Mexican president gives green light for Tesla plant in northern Mexico
MEXICO CITY, Feb. 28 (Reuters) – Electric vehicle manufacturer Tesla Inc. (TSLA.O) will build a new plant in the northern Mexican city of Monterrey, President Andres Manuel Lopez Obrador said Tuesday, allaying concerns his administration could block the deal over water shortages. The news gives a boost to Mexico, which is working to establish itself […]
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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) […]
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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 […]
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Tesla scales back German battery plans won by US incentives
BERLIN, Feb. 21 (Reuters) – Tesla (TSLA.O) has begun assembling battery systems at its factory in Germany, but will focus on cell production in the United States in light of tax breaks under the Inflation Reduction Act (IRA). ), a spokesperson said on Wednesday. The US electric vehicle maker is also preparing to produce cell […]
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Tesla opens US charging network to rivals in $7.5 billion federal program
SAN FRANCISCO, Feb. 15 (Reuters) – Tesla Inc (TSLA.O) will open part of its US charging network to electric vehicles (EVs) made by rivals as part of a $7.5 billion federal program to increase the use of EVs expand and reduce carbon emissions. The move could help make Tesla the universal “gas station” of the […]