marketcrash
bitcoincrash
pensions
nationaldebt
bubble
risk
debtcollapse
electric vehicles
04/18/2024
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By Laura Harris
Tesla plans to lay off 10% of workforce after dismal quarterly sales
Tesla has announced its plan to lay off approximately ten percent of its workforce after the release of its dismal first-quarter sales report. In that quarter, Tesla experienced a significant decline in sales due to heightened global competition, a slowdown in electric vehicle sales growth and unsuccessful attempts to attract more buyers, including with price reductions. Tesla has […]
04/09/2024
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By Ava Grace
Apple announces LAYOFFS of more than 600 workers
Tech giant Apple is set to lay off more than 600 employees in its California offices, marking its first major wave of job cuts after the Wuhan coronavirus (COVID-19) pandemic. According to the Epoch Times, 614 employees across multiple Apple offices in Santa Clara, California will be impacted by the impending job cuts. “The company did not […]
03/25/2024
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By Ava Grace
Hertz CEO Stephen Scherr steps down in wake of company’s disastrous bet on EVs
Stephen Scherr, who ran rental car giant Hertz for over two years after three decades at Goldman Sachs Group Inc., has decided to step down in the wake of a disastrous bet on electric vehicles (EVs) that the company began unwinding in recent months. Hertz will replace him with Gil West, the former chief operating officer of […]
03/19/2024
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By Laura Harris
EV COLLAPSE: Automakers are scaling back and delaying their EV plans as consumer demand wanes
The enthusiasm surrounding electric vehicles (EVs) that once swept through the automotive industry is now tapering off as consumer demand misaligns with the industry’s lofty ambitions. For years, automakers had been riding high on optimistic sales projections and ambitious targets for EV growth. From legacy giants like Ford Motor Company and General Motors to luxury […]
03/05/2024
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By Zoey Sky
Apple bails out of EV market and shifts focus to AI
According to people in the know, Apple is finally canceling a decades-long effort to build an electric vehicle (EV). The internal announcement was made on Feb. 27, shocking the nearly 2,000 employees involved in the project. The people who shared the news requested not to be identified because the announcement wasn’t public. The decision was shared by […]
02/14/2024
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By Olivia Cook
Internal report finds Ford can increase its profits by up to 50% if it stops selling EVs
Automaker Ford recently released an earnings projection showing that the company’s profits could soar by 50 percent if it halted production of and investment in electric vehicles (EVs). Amid weaker consumer demand for premium EVs, Ford has already announced that it is slashing production of its F-150 EV Lightning pickup truck – the electric version of […]
02/13/2024
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By Olivia Cook
General Motors to bring back plug-in hybrids as EV market falters
In 2019, General Motors (GM) became the first major American automaker to announce that it was going “all-in” on producing pure electric vehicles (EVs). Now, the company is making a significant shift back into the plug-in hybrid market. This move was announced by CEO Mary Barra during the company’s recent earnings call on Jan. 30. Before […]
02/06/2024
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By Ava Grace
Volvo CUTS FUNDING to subsidiary Polestar, which produces electric vehicles
Volvo recently announced that it has cut off funding to its electric vehicle (EV) subsidiary Polestar, despite the fact that the Swedish automaker was among the first to embrace electric cars. The company said in a statement that its Chinese partner Geely Holding “will continue to provide full operational and financial support to Polestar going forward.” […]
01/29/2024
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By Laura Harris
Apple to launch own EV in 2028 after SCRAPPING plans to create a fully autonomous car
Tech mega-corporation Apple is planning to launch its first-ever electric vehicle (EV) in 2028 after years of setbacks, executive turnover and ambitious visions of creating a fully autonomous vehicle without a steering wheel. The EV project, known as Project Titan and T172, has been marred by leadership changes, strategy shifts, layoffs and multiple delays since its […]
01/23/2024
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By Olivia Cook
Car rental company SIXT drops Tesla EVs from its fleet due to poor resale value, high repair costs
Car rental company SIXT has announced that it would drop Teslas from its electric vehicle (EV) fleet due to poor resale value and high repair costs. In an email to customers obtained by Bloomberg, the company cited higher repair costs for EVs compared to gas-powered counterparts as a main reason for the move. These higher […]
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