Ford falls in premarket on price cut; chipmakers also extend losses
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Rivian (RIVN) to cut jobs by 6% amidst price war
February 1, 2023 11:56 AM ESTReuters reports in an exclusive story Wednesday that Rivian Automotive (NASDAQ: RIVN) is laying off 6% of its workforce in an effort to cut costs. The American EV maker, already grappling with falling cash reserves and a weak economy, is now bracing for what may be an industry-wide price war.
The falling EV prices were kicked off by cuts made recently by Elon Musk-led Tesla and Ford... More
Chinese domestic EV makers report January sales decline following Tesla (TSLA) price cuts
February 1, 2023 8:08 AM ESTChinas top domestic high-end EV manufacturers: Nio (NYSE: NIO), XPeng (NYSE: XPEV), and Li Auto (NASDAQ: LI), all recorded monthly and year-on-year sales declines in January, with some of the drops exceeding 50%. The weakness follows disrupted production and sales slowed by the weeklong Lunar New Year holiday, as-well-as recent Tesla (NASDAQ: TSLA) price... More
Tesla (TSLA) plans production ramp in Shanghai as price cuts boost demand
February 1, 2023 7:43 AM ESTIn an exclusive story, Reuters reports Wednesday that electric vehicle giant, Tesla, Inc. (NASDAQ: TSLA) plans to step up output at its Shanghai plant over the next two months to meet demand ignited by aggressive price cuts on its best-selling models. The report cites a planning memo seen by Reuters and a... More
Warren Buffet backed EV maker BYD in talks to acquire insurer Yi'an
January 31, 2023 11:59 AM ESTBYD, the Chinese electric vehicle company in China, announced on Tuesday that the Warren Buffet backed automaker is working on a potential acquisition of Yi'an P&C Insurance Co, an insurer that was seized by Chinese regulators two years ago as part of a crackdown on financial... More
Tesla (TSLA) to increase CAPEX and ramp battery cell and semi-truck production
January 31, 2023 8:46 AM ESTTesla (NASDAQ: TSLA) announced in a 10-K filing on Tuesday that the electric vehicle company will increase its capital expenditure next year as the electric-vehicle maker increases production of a new battery cell and the Semi heavy duty truck.
Tesla wrote in the filing that we are likely to see heightened levels of capital... More
Tesla (TSLA) to offer additional discounts and supercharging incentives
January 30, 2023 1:04 PM EST(Updated - January 30, 2023 2:33 PM EST)
UPDATE: Teslarati has confirmed with Tesla that newest discount/supercharging incentives are for Model S and X vehicles only.
Story by teslarati.com reports today that Tesla (NASDAQ: TSLA) is now offering an additional $3000 discount or 3 years of free Supercharging incentives with the purchase of new vehicles. However, the... More
