The Dutch-based energy giant Shell plans to eliminate 1,000 gas stations by the end of 2025 as it begins to put more emphasis on its EV charging operations, the company said in a new report. It already operates 3,700 charging stations in the U.S. and will not only add more facilities but expand the size of existing ones.
The Biden administration is expected to roll back new rules governing vehicle emission and mileage standards, a move that should prove particularly helpful for Detroit automakers who are heavily dependent upon large, fuel-hungry models like the Ford F-150 and Chevrolet Suburban. But the changes likely also will benefit some Japanese manufacturers, including Toyota and Honda, that have been reluctant to invest heavily on EV technology.
After spending much of last year cutting prices on its EV lineup, Tesla has reversed course, announcing a $1,000 increase in the U.S. sticker price for its best-selling Model Y. In Europe, meanwhile, buyers will pay as much as 2,000 euros, or $2,177 more for the electric SUV. While that might not be good news for buyers, Tesla stockholders hailed the price hike, giving shares traded under the Nasdaq ticker TSLA their first big gain in a month. Find out more at Headlight.News.
The CEO of Hertz Global Holdings, has handed in his key to the executive washroom. He’s stepping down after a disastrous move that saw the daily rental company add 100,000 Teslas to its fleet. The EVs didn’t prove as popular as expected with customers – but they did wind up experience far more repairs than anticipated. Adding insult to injury, Tesla’s big price cuts meant massive losses for Hertz when it tried to sell the vehicles off.
Danish automotive designer and entrepreneur Henrik Fisker may be heading for a second bankruptcy. Shares of Fisker went into freefall Thursday after the Wall Street Journal reported the executive’s latest car company is seeking the help of restructuring experts in preparation for a possible bankruptcy. Earlier this month, Fisker advised analysts and investors the startup is facing going-concern risks due to slow sales and weak revenues. It is unclear whether a potential tie-up with Nissan will be enough to overcome a fast-worsening cash crunch.
As EV sales growth slows, automakers are rethinking prior plans, in some cases delaying, even canceling battery-electric vehicle projects. That includes Hyundai Motor Group, the Korean automaker previously announcing one of the industry’s more aggressive EV launch programs. But, in an exclusive report Headlight.News reveals Hyundai is not only studying whether to slow the rollout of new EVs, but also whether to make major changes to the $5.54 billion EV plant in Georgia currently set to start production in October. That would allow the facility to meet production targets by assembling more than just EVs, Hyundai officials revealed.
When the new Lincoln Nautilus goes on sale this spring it will mark a significant development for parent Ford Motor Co., the first time it imports a vehicle to the U.S. from China. The move will help keep the U.S. automaker’s factories there running as demand for its products has tumbled sharply in the Asian nation. But Ford is not alone. Detroit automakers – along with other foreign brands – have seen their Chinese sales – and earnings – plunge as consumers by the millions shift to domestic competitors. Could the Chinese now turn the tables on the U.S. at home? Find out at Headlight.News.
When Elon Musk handed over the keys to the first Cybertruck last November he boasted that the electric pickup featured “the finest in apocalypse technology.” The Tesla CEO even played a video showing bullets bouncing off the truck’s stainless steel skin. But a series of recent social media posts raise serious questions about the truck’s actual capabilities — or at least the skills of its early owners who’ve gotten stuck in sand and snow and even driven into a wall at the Beverly Hills Hotel, knocking off a wheel in the process. Read all about it at Headlight.News.
When Apple disbanded Project Titan last month, it marked the end of the tech giant’s long-standing goal of getting into the automotive business. But just how far back did that dream begin — and how much did Apple invest? Apparently, much further back than was previously known. And it spent far more than previously reported on its failed attempt to launch a line of self-driving EVs. Find out more at Headlight.News.
Betting on the stock market isn’t for the fainthearted. But it takes an iron constitution to buy in on Tesla. True, those who’ve hung with the automaker since its early days have been well rewarded. But recent years have taken investors on a rollercoaster ride. And nowhere has it been more apparent than over the past few months. After nearing a 52-week late last year, Tesla shares have been in decline. And that’s now showing signs of turning into a full-on rout, even some long-term Tesla bulls getting worried.
Struggling Fisker Inc. could get tossed a lifeline by Japan’s second-largest automaker. In turn, Nissan could gain some much-needed momentum as it struggles to catch up to key competitors in the EV market, according to a new report. A deep source, meanwhile, tells Headlight.News “there is a high likelihood” the alliance could come together in the coming month.
Tesla rival Fisker misses Q4 production and sales targets as the company also struggles to maintain cash reserves to survive through the remainder of 2024. The company still optimistic that it can achieve future growth through future investments. Check out the story at Headlight.News.