Tesla Beats $1B, Posts Record Profit in Q2
Tesla was profitable without regulatory credits, which it sells to rival automakers, for the first time since the end of 2019.
GM Anticipates Up to $3B Hit from Chip Shortage, Inflation
At the same time, the automaker raised its planned spending on electric and autonomous vehicles to $35 billion through 2025.
EV Startup Faces SEC Investigation
The investigation follows a string of executive departures and the loss of a key automotive deal.
Italian Watchdog Fines Google in Antitrust Case
The Italian Competition Authority said Google abused its dominant market position by excluding a third-party app from Android Auto.
Lordstown Motors Responds to Short Seller
A Hindenburg Research report alleged that the truckmaker's product orders "appear largely fictitious and [are] used as a prop to raise capital."
How the Biden Administration Could Benefit EV Players in the U.S.
The incoming administration's focus on environmental issues and reducing the domestic carbon footprint will likely have a dramatic impact, says one analyst.
Feds Subpoena Nikola as Part of Fraud Probe
The electric vehicle maker has been under scrutiny since a short-seller accused it of misleading investors about its technology.
GM Names Delta Executive Paul Jacobson as CFO
“Jacobson is an important hire for GM as it enters into new ventures and continues to restructure its business operations toward all-electric vehicles."
GM Takes 11% Stake in EV Truck Maker Nikola
The deal will enable GM to deploy its Ultium electric battery system and Hydrotec fuel cells in pickups and big rigs.
Ford Targets White-Collar Job Cuts in U.S.
The automaker is aiming to trim at least 1,400 positions through voluntary buyouts as it continues to shift to electric and autonomous vehicles.
Nio Trades Down After Upsized Equity Offering Prices at Discount
With the offering, the Chinese electric vehicle company expects its cash reserves to exceed $2.9 billion.