A judge in Florida cited “reasonable evidence” that Tesla and its CEO Elon Musk knew the automaker’s Autopilot system had a potentially fatal defect, a finding that could create serious problems for Tesla as it faces the third trial this year over the semi-autonomous driving system.
If you’ve been holding off on buying a new vehicle now may be a good time to head over to your nearest showroom. After three years of record hikes, prices have begun to tumble as automakers build back COVID-depleted inventories. Better yet, incentives are beginning to rise, meaning you could find the best deal in years. Headlight.News has more.
Only a few years ago, an array of EV start-ups appeared poised to revolutionize the auto industry. Today, many have vanished while others struggle for survival. There have been a few success stories but the shake-out is likely to continue, reports Headlight.News.
Tesla CEO Elon Musk has bandied about plans for a $25,000 electric vehicle for a few years now. However, that vehicle — dubbed the Model 2 by some — appeared to be pushed to the wayside as the EV maker focused on bringing the Cybertruck to the market. However, there are reports the “cheap” EV is front and center again. Get details at Headlight.News.
Ford is rethinking its commitment to battery-electric vehicles, at least in the near term, company officials revealed during an earnings call. It might seem a logical move considering the automaker lost about $37,000 on every EV it sold during the third quarter. But Ford is by no means the only automaker rethinking its commitment as growth in the electric vehicle market slows. Read the story at Headlight.News.
If you have “Tesla becomes an EV charging company” on your list of things to happen in 2023, cross it off: BP just placed an order for $100 million worth of “ultra-fast” chargers with Tesla. The chargers will hit the U.S. next year, reports Headlight.News.
Just how far an electric vehicle will actually travel on a full charge compared to what each EV maker claims is always up for debate. However, the U.S. Department of Justice appears to be taking a closer look at Tesla’s range claims. Get details at Headlight.News.
Sometimes you can’t wait for the day to end, and that’s probably the case for Tesla investors who watched the stock stumble since the automaker delivered a weak third-quarter earnings report, sending shares tumbling for two days in a row. Among those hardest hit, CEO Elon Musk whose own holdings have now lost more than $20 billion in value.
Within a week of its 2019 launch, Tesla claimed to have logged 250,000 advance reservations for the Cybertruck, and CEO Musk claims the number is now up to 1 million. Yet, even with the all-electric pickup finally in production, it very well could turn into a bust, CEO Elon Musk telling investors and analysts “We dug our own grave with the Cybertruck.”
The impact of Tesla’s price cuts hit home in the third quarter as its earnings fell on a year-over-year basis. Perhaps more importantly, more price cuts are expected to come in the fourth quarter at the company pushes to meet its goal of delivering 1.8 million vehicles globally. More cuts means a tough final quarter — fiscally anyway. Details at Headlight.News.
Ford dropped a shift at the Dearborn, Michigan plant assembling its all-electric F-150 Lightning. The automaker blamed “multiple constraints,” for the move, but the UAW says the production cut comes as sales “have tanked.” If anything, Ford had expected a growing surge in demand as it prepares a major expansion of capacity at its Rouge Electric Vehicle Center.
Consumers and automakers alike are grappling with the sudden changes to EV prices occurring what seems to be weekly. Nissan is celebrating this week while Tesla has been offering up warnings. Find out why at Headlight.News.