Tesla and Waymo are about to square off in a duel, which could decide the fate of automated vehicles in the U.S. Billions of dollars in revenue and profits are at stake as the two companies prepare to compete in cities around the country.
Earnings and Financials
Honda Slashes EV Investments Due to “Market Slowdown”
Honda is cutting its planned investment in battery-electric vehicles by 30%, its CEO citing “the current market slowdown.” The automaker still plans to launch two all-new “0-Series models” next year but will slow down and stretch out development of other all-electric products. It’s not likely to be the last automaker to rethink EV spending, reports Headlight.News.
Toyota Goes Into “Wait and See Mode”
With dozens of new models set to debut in the U.S. in the coming months, this should be a big year for Toyota. But the automaker’s plans have been put in a “wait and see mode,” as executives struggle to figure out how to respond to the new Trump import auto tariffs.The tariffs could bring more Toyota jobs to the U.S. – but they might also price some products out of reach, hammering sales. Headlight.News has more.
Musk Promises to Stay in Tesla Role for 5 Years, Cutting Back on Politics
Elon Musk is cutting back on political activity as Tesla pushes into autonomous vehicles, announcing plans to stay with the automaker as CEO for the next five years. Musk also said autonomy is the key to Tesla’s future, with its new CyberCab ready to roll next month.
As Tesla Cybertruck Sales Slump, Ford F-150 Lightning Takes Lead in EV Pickup Market
With demand in a sharp slump, Tesla’s controversial Cybertruck has slipped to second in the emerging EV pickup segment, behind the Ford F-150 Lightning. But the Blue Oval’s all-electric truck has its own struggles. Headlight.News has more.
Tariffs Backfire as Automakers Reduce North American Production
Pres. Donald Trump’s 25% tariffs on imported autos and auto parts were intended to bring manufacturing and jobs back to the United States but, at least for now, the plan appears to be backfiring. Though a number of automakers are looking at ways to bring new vehicle production to the States, a new study shows that the industry will sharply reduce output in North America this quarter. And that, in turn, raises the prospect of U.S. auto jobs cuts. More from Headlight.News.
GM Switching to New Battery Chemistry For Trucks, SUVs
General Motors has created new partnerships to come up with less expensive and easier to source battery chemistry. The Ultium Cells joint venture with Korea’s LG energy is set to go into production in 2028. GM claims the new technology will be cheaper without sacrificing range. More from Headlight.News.
Tesla Weighed Down by $800 Million in Unsold Cybertrucks
In the weeks after Tesla unveiled its Cybertruck in November 2019, the automaker claimed to have logged more than 1 million advance reservations. As it turns out, only a handful of those have been translated into actual sales. Now, the automaker has an estimated 10,000 unsold trucks piled up on dealer and factory lots – worth about $800 million. The lack of demand has led Tesla to pull the plug on a range extender option that was supposed to deal with the truck’s limited range. Headlight.News has more.
Times Get Tougher at Nissan with 10K More Layoffs Coming
Nissan’s push to get back to prosperity continues to take it through tough times. The company apparently is preparing to layoff 10,000 workers — in addition to the 9,000 it’s already sent packing. This news comes as it prepares to release a quarterly earnings loss in the billions of dollars. Find out more at Headlight.News.
Stellantis’ U.S. Boss May Soon Be Running the Entire Company
Nearly a half year after the unexpected resignation of Carlos Tavares, the founding chief executive of Stellantis, the Euro-American automaker has yet to name a replacement. But the search may be coming to an end, according to a new report which says Antonio Filosa, currently the head of Americas operations for Stellantis, has become the leading candidate.
Newer, Cheaper Version of Tesla Model Y Debuts
The first major update of Tesla’s best-selling product line, the Model Y, has officially gone on sale. Known internally by its codename, Juniper, it’s also being offered in a newer, cheaper form, with a base rear-wheel-drive package dropping to $37,490 after factoring in federal tax credits. Whether that will reverse declining Tesla sales, hurt by widespread protests against CEO Elon Musk’s role in the Trump administration, remains to be seen. More from Headlight.News.
Ford Raising Prices on Mexican-Made Products
Ford Motor Co. plans to raise prices on three popular product lines assembled in Mexico, according to an advisory sent to dealers. The automaker put the blame on the new Trump auto tariffs which, it said earlier this week, will add about $2.5 billion to its costs this year. The automaker has yet to say whether it also will raise prices on products produced at Canadian and other foreign plants, as well as those assembled in the U.S. using foreign-made parts. Headlight.News looks at whether othr products could see price hikes,