marketcrash
bitcoincrash
pensions
nationaldebt
bubble
risk
debtcollapse
EVs
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 […]
01/16/2024
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By Arsenio Toledo
Electric car sales growth slows by nearly 50% in 2023
Global sales of fully electric and plug-in hybrid vehicles slowed down by nearly 50 percent in 2023 compared to sales figures from 2022. In the United States, sales could have dropped lower if not for taxpayer-funded government incentives artificially boosting sales. This is according to the EV and battery market analysis firm Rho Motion, which […]
01/05/2024
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By Kevin Hughes
Chinese electric car manufacturer BYD OVERTAKES Tesla as world’s top seller of EVs
Chinese electric vehicle manufacturer Build Your Dreams (BYD) has surpassed Elon Musk’s Tesla as the world’s top seller of EVs. BYD, which has been supported by the American investment billionaire Warren Buffett since 2008, has defeated Tesla’s production for the second straight year. BYD announced that it made 3.02 new EVs in 2023. Meanwhile, Tesla recently announced […]
12/08/2023
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By Laura Harris
Ford Motor Company scales down EV investments at Michigan plant due to declining demand and inflation pressures
The Ford Motor Company is scaling back its investment in electric vehicles (EVs) by reducing the production capacity of its battery factory in Marshall, Michigan and cutting 800 jobs. According to Ford spokesperson Mark Truby, the company initially planned to invest $3.5 billion in the factory, known as Blue Oval Battery Park, to produce 35 gigawatt […]
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