marketcrash
bitcoincrash
pensions
nationaldebt
bubble
risk
debtcollapse
EVs
05/17/2024
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By Laura Harris
Chinese EV hatchback threatening to disrupt U.S. auto sales with very low price and claims of efficiency
A Chinese electric hatchback car has ignited fears among American automakers and politicians as it makes itself more marketable to Americans while it carves a path through the global automotive industry. In 2023, Chinese electric car manufacturing giant BYD launched Seagull, a budget-friendly electric hatchback or city car billed as performing and having craftsmanship comparable to […]
05/01/2024
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By Arsenio Toledo
Elon Musk shuts down Tesla’s profitable Supercharger team in latest round of layoffs
Elon Musk has shut down Tesla’s division that runs the Supercharger business in the latest round of layoffs that is expected to reduce the electric vehicle manufacturing giant’s workforce by more than 10 percent. The shutdown of the Supercharger division includes the dismissal of two senior executives and several hundred other staffers amid an ongoing […]
04/30/2024
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By Laura Harris
SHORT CIRCUIT: Ford’s electric vehicle unit lost $1.3 BILLION in first quarter of 2024
Ford Motor Company has reported $1.3 billion in losses on its Model E sector or a staggering $132,000 loss for each of the 10,000 vehicles sold during the first quarter of 2024. The electric vehicle (EV) unit, known as Model E, saw a 20 percent decrease in sales compared to 2023, with only 10,000 EVs sold in the first […]
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 […]
04/02/2024
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By Ava Grace
Ford drastically cuts EV factory workforce as electric car sales plummet
About 1,400 workers at a Ford factory in Michigan that makes the F-150 Lightning will move to new jobs or take retirement packages as sales of the fully electric pickup trucks decline. Ford began the year by cutting production of the F-150 Lightning following significantly weaker-than-expected sales growth in electric vehicles. While EV sales are growing in […]
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 […]
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 […]
01/23/2024
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By Belle Carter
Germany’s electricity prices DOUBLE as “green” nightmare kicks in
German multinational electric utility company E.ON recently announced a piece of bitter news to its consumers – it is having a hefty double-the-price increase effective shortly. “Consumers who heat with electricity and live in E.ON’s basic supply area have so far been able to benefit from relatively low prices for the basic heating electricity supply […]
01/18/2024
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By Zoey Sky
White House to award $623 MILLION in grants for construction of EV charging network across the country
Despite the waning public interest in electric vehicles (EVs), officials from the administration of President Joe Biden announced on Jan. 11 that it will be awarding $623 million in grants for the construction of an EV charging network across the United States. The grants will fund 47 EV charging and alternative fueling infrastructure projects throughout […]
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