Did the U.S. State Department craft a $400 million windfall deal for Tesla and its CEO Elon Musk as payback for the executive’s leading role in the Trump administration? And is it now trying to cover up the truth behind the proposed purchase of armored versions of the Tesla Cybertruck? That’s a question one ranking member of the Senate is trying to find out.
Tesla stock wracked up its sixth straight loss on Thursday, reaching its lowest point since the automaker’s shares surged in the wake of the 2024 presidential election and CEO Elon Musk’s close ties to Donald Trump. Musk’s role in the new Trump administration has been a key factor in the downturn, but analysts warn of other issues that could make it difficult for Tesla to bounce back.
Nissan plans to unveil a major management shake-up in March and CEO Makota Uchida – blamed for blowing a proposed merger with Honda – appears likely to be one of those executives set to be replaced. Headlight.News has more.
Who says the EV market is on the wane? Not U.S. consumers who bought a record number of all-electric cars, trucks and crossovers last month, according to the latest data. In January, battery-electric models accounted for 9.1% of the market, up nearly nine-fold over the last half-decade, despite the anti-EV push by the new Trump administration. Headlight.News has more.
Phoenix-based Nikola Motors has filed for Chapter 11, becoming the latest start-up to go bust while targeting the EV and hydrogen fuel-cell markets. Nikola officials said the company now plans to sell off its assets, though it isn’t clear a buyer has yet emerged.
Two weeks after halting talks that would have resulted in some form of partnership between Honda Motor and its faltering rival, Nissan Motor, Honda officials say they’re willing to resume discussions. There is one caveat: current Nissan CEO Makoto Uchida needs to step down. Get details at Headlight.News.
Nissan CEO Makoto Uchida announced a desperate new bid to reverse the company’s mounting losses after a planned merger with Honda collapsed. The second-largest Japanese automaker now plans to close three plants, reduce U.S. production and eliminate thousands of jobs. The announcement came as Uchida revealed still more losses for Nissan’s latest fiscal quarter.
The U.S. State Department on Wednesday appeared to back down on plans to purchase $400 million in armored Tesla Cybertrucks amids mounting questions about a conflict of interest considering the automaker’s CEO Elon Musk plays a major role in the new Trump administration. But it’s unclear from an updated procurement forecast whether authorities will switch to other vehicles or have simply obscured their purchase plans.
After surging in the wake of last November’s presidential election, Tesla stock has gone into freefall since Donald Trump’s inauguration last month. A variety of factors, including slumping global sales linked to CEO Elon Musk’s increasingly tarnished reputation. His new $100 billion bid for OpenAI may add to investors’ worries, reports Headlight.News.
Best known for producing iPhone, Taiwan-based Foxconn is making a play for Nissan Motor Co. now that its merger talks with Honda are dead. It’s not the first time the company’s attempted to gain a stake in the Japanese automaker. Find out more at Headlight.News.
Toyota Motor Corp. remains the world’s best-selling automaker, having edged out competitors including Volkswagen, Hyundai Motor Group and the Renault-Nissan-Mitsubishi Alliance. But the Japanese giant still recorded a 3.7% decline in sales during 2024. How did other competitors do? More from Headlight.News.
As of noon on Monday, the United States has a new president – and Donald Trump is expected to move quickly to implement an agenda calling for major changes in America’s domestic and foreign policies. The auto industry, in particular, could feel the impact of Trump’s agenda in a variety of ways: from foreign trade to EV and emissions policies. Here’s a closer look at what that might means.