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Rivian Chief Executive RJ Scaringe announced in a memo to employees plans to trim another 6% of its workforce.
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General Motors Co. posted a $2 billion net profit in the fourth quarter finishing the year strong despite supply chain struggles, record prices and other disruptors.
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Around $28 billion in green bonds are available globally for automakers to help fund their transition to electric vehicles.
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Tesla has built a commanding lead over most major rivals in profit per vehicle, according to Reuters research.
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Auto industry analysts remain on high alert for “demand destruction” as high interest rates, escalating vehicle costs, and a down economy threaten auto sales.
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Brand says 60% enrolled in certification program.
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Report shows pace of adoption building as ICE vehicles wane.
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Average vehicle transaction prices continue to soar, according to data released by Kelley Blue Book.
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Without an SUV classification, the Cadillac Lyriq exceeds the price threshold for federal tax credits for EVs.
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U.S. electric vehicle purchases climbed to 5.8% of all vehicles sold in 2022, up from 3.2% in 2021, according to Motor Intelligence.
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