Want to invest in electric cars? GM could be a better bet than Tesla
4 years, 1 month ago

Want to invest in electric cars? GM could be a better bet than Tesla

CNN  

New York CNN Business — It’s been a long time since General Motors has been a hot stock for investors. “GM is one of the few that is showing tangible progress in its transition to EVs,” wrote Morgan Stanley auto analyst Adam Jonas in a note late last month as GM announced a $2 billion investment to build electrics at a plant in Tennessee. “Non-auto investors who missed Tesla are trying to find exposure, and GM is striking the right tone.” Last month, the company announced an electric Hummer pickup, generating excitement from investors. “GM could be a major player in the EV market with Tesla,” wrote Wedbush technology analyst Daniel Ives. “The Hummer EV … will be one of the foundational models as part of GM’s $20 billion push into the EV space.” The automaker said it targets selling 1 million combined electric vehicles a year in the Chinese and US markets over the next five years.

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History of this topic

Not only Volkswagen and Nissan, automakers world over are struggling after a rewarding pandemic
1 week, 2 days ago

Not only Volkswagen and Nissan, automakers world over are struggling after a rewarding pandemic

Firstpost  

A few years ago, automakers were celebrating record profits as the pandemic caused new car shortages, allowing them to raise prices. Now, the industry is facing a harsh reality, according to a report A few years ago, automakers were celebrating record profits as the pandemic caused new car shortages, allowing them to raise prices. Competition from China is “starting to …

Electric cars: EV sales are slumping—but that doesn’t mean they're dead.
5 months, 1 week ago

Electric cars: EV sales are slumping—but that doesn’t mean they're dead.

Slate  

It’s tough to gauge how well the United States’ burgeoning electric vehicle industry is faring in 2024. EV ownership is increasingly politicized, in both directions—liberals horrified by Elon Musk’s far-right turn are fueling the Tesla sales slump, while right-wingers fearmonger over foreign EV companies and want to get electric cars off the road altogether. You can see this in the …

Why Tesla’s electric car bubble is threatening to burst
8 months, 3 weeks ago

Why Tesla’s electric car bubble is threatening to burst

The Telegraph  

The drop, the first since 2020, was far below even the most gloomy expectations of investment analysts. The company blamed the tough start to the year on teething problems with the production of its updated Model 3 at its Californian factory and “factory shutdowns resulting from shipping diversions caused by the Red Sea conflict and an arson attack at Gigafactory …

EVs won over early adopters, but mainstream buyers aren't along for the ride yet
10 months, 2 weeks ago

EVs won over early adopters, but mainstream buyers aren't along for the ride yet

NPR  

EVs won over early adopters, but mainstream buyers aren't along for the ride yet Enlarge this image toggle caption Jeff Kowalsky/AFP via Getty Images Jeff Kowalsky/AFP via Getty Images Bad headlines for electric vehicles have been piling up lately. Even Tesla, the all-electric juggernaut that has shaped the rise of EVs in the U.S., warned investors that it's in between …

Tesla loses over $82 billion, stock plunges 12% in a single day after ‘disastrous’ earnings call
10 months, 4 weeks ago

Tesla loses over $82 billion, stock plunges 12% in a single day after ‘disastrous’ earnings call

Firstpost  

The stock value of Tesla saw a significant dip of just over 12% on Thursday following remarks by CEO Elon Musk highlighting the challenges posed by Chinese electric-car manufacturers, whom he referred to as “the most competitive car companies in the world.” During Tesla’s earnings call on Wednesday, Musk praised Chinese carmakers such as BYD, Geely, and SAIC, emphasizing their …

Nissan will invest $1.4 billion to make EV versions of its best-selling cars at its UK factory
1 year, 1 month ago

Nissan will invest $1.4 billion to make EV versions of its best-selling cars at its UK factory

Associated Press  

LONDON — Nissan will invest $1.4 billion to update its factory in northeast England to make electric versions of its two best-selling cars, a boost for the British government as it tries to revive the country’s ailing economy. “Nissan’s investment is a massive vote of confidence in the U.K.’s automotive industry,” which contributes 71 billion pounds a year to the …

Tesla joins GM, Ford in slowing EV factory ramp as demand fears spread
1 year, 2 months ago

Tesla joins GM, Ford in slowing EV factory ramp as demand fears spread

The Hindu  

Tesla on Wednesday joined General Motors and Ford in being cautious about expanding electric vehicle production capacity, citing economic uncertainties and underscoring fears of a slowdown in demand. Tesla CEO Elon Musk said he was worried that higher borrowing costs would prevent potential customers from affording its vehicles despite substantial price cuts, and that he would wait for clarity on …

Tesla to source almost $2 billion from Indian auto part makers in 2023: Goyal
1 year, 3 months ago

Tesla to source almost $2 billion from Indian auto part makers in 2023: Goyal

The Hindu  

Tesla is likely to ramp up its sourcing from India this year to a little under $2 billion and while the government is keen to attract investors like the Texas-based electric automobile player, it will frame a policy for the sector that does not favour a single player, Commerce and Industry Minister Piyush Goyal said on Wednesday. “Last year, Tesla …

Forget Tesla. Mercedes is betting $45 billion it can become the king of luxury EVs
1 year, 5 months ago

Forget Tesla. Mercedes is betting $45 billion it can become the king of luxury EVs

LA Times  

Mercedes-Benz CEO Ola Källenius wants the carmaker to pull ahead of competitors on every facet of electric vehicle design — from rethinking the motor to reimagining the content possibilities inside autonomously driven cars. But to take the spot of undisputed leader in luxury EVs, Mercedes has to nail both form and function — an increasingly complicated and expensive endeavor with …

Tesla, GM among carmakers flocking to mining events to secure supplies for EVs
1 year, 10 months ago

Tesla, GM among carmakers flocking to mining events to secure supplies for EVs

Hindustan Times  

Top automakers including Tesla Inc., General Motors Co. and Ford Motor Co. are heading out on the mining conference circuit as soaring demand for metals used in electric vehicles ignites a scramble to lock in long-term supplies. Electric car company Tesla Those major US firms, along with Rivian Automotive Inc. and European counterparts Stellantis N.V., Mercedes-Benz Group AG and Jaguar …

Competitors chip away at Tesla’s US electric vehicle share
2 years ago

Competitors chip away at Tesla’s US electric vehicle share

Associated Press  

DETROIT — New electric vehicle models from multiple automakers are starting to chip away at Tesla’s dominance of the U.S. EV market, according to national vehicle registration data. But numbers collected by S&P Global Mobility show that Tesla still controlled about 65% of the growing electric vehicle market during the first nine months of this year. “Given that consumer choice …

GM CEO Barra says electric vehicles to be profitable by 2025
2 years, 1 month ago

GM CEO Barra says electric vehicles to be profitable by 2025

Associated Press  

General Motors says it expects its portfolio of electric vehicles to turn a profit in North America by 2025 as it boosts battery and assembly plant capacity to build over 1 million EVs per year. As for the new vehicles, GM will roll out an all-electric version of the Chevrolet Corvette next year, President Mark Reuss said. For electric vehicles …

Electric vehicles are way too expensive for mass adoption
2 years, 3 months ago

Electric vehicles are way too expensive for mass adoption

Live Mint  

How much does it cost to build an electric car? Vehicle makers don’t necessarily build the car, either, often buying off-the-shelf software and expanding on it. Unlike, say, pharmaceutical companies that release detailed presentations about their drug pipelines, development phases and clinical trials, EV makers wax lyrical about their soon-to-be mass produced vehicles with only thousands of cars to show …

The AP Interview: GM’s Barra talks electric vehicles, future
2 years, 5 months ago

The AP Interview: GM’s Barra talks electric vehicles, future

Associated Press  

NEW YORK — The economy is a bit wobbly, but General Motors CEO Mary Barra isn’t backing off of an audacious prediction: By the middle of this decade, her company will sell more electric vehicles in the U.S. than Tesla, the global sales leader. But in an interview with The Associated Press, Barra said she’s confident GM can unseat Tesla …

GM and Honda to produce ‘attainable EVs’ in bid to surpass Tesla sales
2 years, 8 months ago

GM and Honda to produce ‘attainable EVs’ in bid to surpass Tesla sales

The Hindu  

General Motors and Honda Motor Co said on Tuesday they will develop a series of lower-priced electric vehicles based on a new joint platform, producing potentially millions of cars from 2027 in a bid to beat Tesla in sales. The automakers said the new deal is for "affordable" EVs, including compact crossover vehicles, built using GM's Ultium battery technology. GM …

Automakers Chasing Tesla to Become EV Primes Are Rethinking Dependence on Suppliers
2 years, 8 months ago

Automakers Chasing Tesla to Become EV Primes Are Rethinking Dependence on Suppliers

News 18  

Automakers racing to develop battery-powered, software-driven vehicles to compete with Tesla Inc are confronting a new challenge: what technology to build themselves, and what to keep buying from suppliers. “Major players have realized electric vehicles are the future, but they have yet to widely recognize that they have to up their game in terms of motors, transmissions, battery technologies, inverters …

Elon Musk Corrects Joe Biden on Twitter, Says Tesla Invested More in EV than Ford, GM Combined
2 years, 9 months ago

Elon Musk Corrects Joe Biden on Twitter, Says Tesla Invested More in EV than Ford, GM Combined

News 18  

Tesla has hit out at US President Joe Biden and corrected him after the latter tweeted in support of GM, Ford, claiming that the automakers are creating thousands of jobs and making the largest investment in the country. In his tweet, Joe Biden said “Ford is investing $11B to build electric vehicles—creating 11,000 jobs across the country. Tesla CEO Elon …

GM’s $7 billion investment intensifies EV battle with Ford, Tesla
2 years, 10 months ago

GM’s $7 billion investment intensifies EV battle with Ford, Tesla

Live Mint  

General Motors Co said Tuesday it will invest $7 billion in Michigan, much of that aimed at dramatically boosting production of full-size electric pickups, intensifying a battle with Detroit rival Ford Motor Co for EV supremacy in North America. GM said its Detroit-Hamtramck and Orion Township plants will be able to build more than 600,000 electric trucks a year by …

Is your electric car as eco-friendly as you thought?
3 years, 1 month ago

Is your electric car as eco-friendly as you thought?

Live Mint  

Electric vehicles, or EVs, are a powerful weapon in the world's battle to beat global warming, yet their impact varies hugely from nation-to-nation and in some places they pollute more than gasoline models, data analysis shows. An EV driver in Europe's biggest car manufacturer Germany, which relies on a mix of renewables and coal, makes a 55% greenhouse gas saving, …

GM sets to double revenue, lead US in electric vehicle sales
3 years, 2 months ago

GM sets to double revenue, lead US in electric vehicle sales

Associated Press  

WARREN, Mich. — General Motors plans to cash in as the world switches from combustion engines to battery power, promising to double its annual revenue by 2030 with an array of new electric vehicles, profitable gas-powered cars and trucks, and services such as an electronic driving system that can handle most tasks on the road. The company also teased upcoming …

GM, Ford outdo each other with electric vehicle investments
3 years, 6 months ago

GM, Ford outdo each other with electric vehicle investments

Associated Press  

DETROIT — General Motors will raise spending on electric and autonomous vehicles and add two U.S. battery factories as it gambles that consumers will eagerly switch from gasoline to the new technology. The announcements Wednesday came as crosstown rival Ford said its entire Lincoln luxury brand lineup would be electric or gas-electric hybrid by 2030, including four fully electric vehicles. …

Toyota says it’s too early to focus on electric cars only
3 years, 6 months ago

Toyota says it’s too early to focus on electric cars only

Live Mint  

Toyota Motor Corp.’s lineup over the next 30 years will contain a myriad of options beyond just electric vehicles, executives at an annual shareholder meeting said Wednesday. “It’s too early to concentrate on one option,” said director Shigeki Terashi, responding to an investor’s question about why the world’s biggest carmaker is taking a different electrification route than Honda Motor Co. …

GM’s Chevy Bolt SUV joins parade of new electric vehicles
3 years, 10 months ago

GM’s Chevy Bolt SUV joins parade of new electric vehicles

Live Mint  

Whether people want them or not, automakers are rolling out new electric vehicle models as the industry responds to stricter pollution regulations and calls to reduce emissions to fight climate change. Fully electric vehicles accounted for less than 2% of US new vehicle sales last year, and Americans continue to spend record amounts on larger gas-powered trucks and SUVs. The …

Corporate America can’t avoid talking about bitcoin. Tesla is to blame
3 years, 10 months ago

Corporate America can’t avoid talking about bitcoin. Tesla is to blame

CNN  

New York CNN Business — Tesla’s $1.5 billion investment in bitcoin has helped legitimize the cryptocurrency as an investment, leading analysts and traders to ask which blue chip company will be the next to take the plunge, buying bitcoin for its corporate balance sheet. Visa CEO Al Kelly also noted during his company’s most recent earnings call that “there’s a …

How risky is it to buy a Tesla using bitcoin?
3 years, 10 months ago

How risky is it to buy a Tesla using bitcoin?

CNN  

CNN — Tesla revealed in a securities filing this week that it will soon begin accepting bitcoin as payment for its electric vehicles. For instance, if you bought one bitcoin back in July 2020, when the price was about $10,000, what once could buy a used Hyundai Elantra could now get you a brand new $38,000 Tesla Model 3 with …

Biden’s auto dilemma: How hard to push for electric cars?
3 years, 10 months ago

Biden’s auto dilemma: How hard to push for electric cars?

LA Times  

The Biden administration plans to write ambitious regulations that push vehicle electrification. Biden is expected to replace the weaker tailpipe emissions standards put in place by the Trump administration with new regulations modeled on California’s voluntary agreement with five automakers. DeCiccio, the University of Michigan professor, said the automakers’ arguments for looser standards in the short term to boost electric …

Automakers are going green to save money, not just the planet
3 years, 10 months ago

Automakers are going green to save money, not just the planet

CNN  

New York CNN Business — Virtually all of the world’s major automakers are shifting to an all-electric future — and that’s as much about the bottom line as it is the environment. Electric vehicles come with several inherent cost advantages — with no internal combustion engine, they have far fewer moving parts, and they require far less labor to assemble. …

New campaign, and logo, for GM in a bid to electrify image
3 years, 11 months ago

New campaign, and logo, for GM in a bid to electrify image

Associated Press  

DETROIT — General Motors is changing its corporate logo and launching an electric vehicle marketing campaign to reshape its image as clean vehicle company, rather than a builder of gas-powered pickups and SUVs. The 112-year-old Detroit automaker has promised to roll out 30 new battery-powered vehicles globally by the end of 2025 and said Friday that the new campaign will …

The quest to replicate Tesla’s success keeps EV mania alive
4 years ago

The quest to replicate Tesla’s success keeps EV mania alive

Live Mint  

Bloomberg -- Tesla has thrilled some investors and jarred others by soaring to a $616 billion valuation this month, an amount the world’s top seven carmakers were collectively worth at the beginning of this year. “But they didn’t listen to me.” For startups aiming to mimic Musk’s success and for traditional carmakers struggling to disrupt themselves, most lingering doubts about …

GM Bets on Electric Cadillacs, Greener SUVs and Micro-Vans to Reverse China Slide
4 years, 4 months ago

GM Bets on Electric Cadillacs, Greener SUVs and Micro-Vans to Reverse China Slide

News 18  

General Motors is overhauling its Chinese line-up with a greater emphasis on electric cars and smart-driving technology to stem a slide in sales after more than two decades of growth in a country that contributes nearly a fifth of its profit. GM's new China boss Julian Blissett told Reuters it would renew its focus on luxury Cadillacs, roll out bigger …

Tesla Worth More Than Traditional Carmakers Combined: Amitabh Kant Tells Future of EVs in One Tweet
4 years, 4 months ago

Tesla Worth More Than Traditional Carmakers Combined: Amitabh Kant Tells Future of EVs in One Tweet

News 18  

While electric vehicles have been running on the roads for the last 2 decades, it's only in the last 5 years that the call to make electric cars more accessible to mass market has amplified and the reason for such a drastic push towards electric vehicles is the decreasing EV cost and rising electric range, making them as worthy as …

Luxury Carmaker Cadillac Unveils Its First All-Electric Vehicle to Take on Tesla: Details Here
4 years, 4 months ago

Luxury Carmaker Cadillac Unveils Its First All-Electric Vehicle to Take on Tesla: Details Here

News 18  

Luxury automaker Cadillac on Thursday unveiled its first all-electric vehicle, hoping to gain an edge in the segment currently dominated by Tesla. GM already produces hybrid or electric cars like the Chevrolet Volt and Bolt, but aims to develop 20 models of all-electric vehicles by 2023. In fact, most of the automakers have changed their strategies -- going from value-based …

Hyundai races to electric as Tesla takes off
4 years, 4 months ago

Hyundai races to electric as Tesla takes off

The Hindu  

Hyundai Motor, an early backer of hydrogen cars, has watched the electric rise of Tesla, including on its home turf. Hyundai told Reuters it was collaborating with Korean battery suppliers “to scale up” its electric car production efficiently. There's some way to go; Hyundai Motor Group sold 86,434 battery EVs last year, according to data from industry consultant LMC Automotive. …

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