Tag: REPI: TECHNOLOGY
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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 […]
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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 […]
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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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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 […]
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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 […]
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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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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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Mexico and Tesla close investment deal after president calls – sources
MEXICO CITY, Feb. 27 (Reuters) – Mexico and Tesla Inc (TSLA.O) are about to announce a deal on the electric vehicle maker’s plans to invest in Mexico after President Andres Manuel Lopez Obrador and Tesla Chief Executive Elon Musk spoke on Monday, Mexican officials said. Lopez Obrador previously revealed he would talk to Tesla’s “owner,” […]
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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) […]