The Jeep brand just launched its first EV for the U.S. market but more are on the way – including a $25,000 all-electric SUV that should be on sale “very soon,” according to Carlos Tavares, CEO of Jeep parent Stellantis.
Earnings and Financials
VinFast May Delay, Even Cancel, U.S. Assembly Plant
With its all-electric SUV winning harsh criticism and low demand, Vietnamese automaker VinFast appears to be rethinking its commitment to set up a $4 billion U.S. assembly complex. There’s growing concern the North Carolina facility will be delayed, even cancelled.
Lucid Trimming Jobs – And More Cuts Are Coming in the EV Sector
Struggling battery-electric start-up Lucid Group will cut 400 jobs as it tries to slash mounting financial woes. It’s far from the only EV manufacturer responding to slowing sales growth by trimming its workforce, however. And still more cuts are expected to follow in the months ahead.
Little Mitsubishi Has Big Plans for the U.S.
Mitsubishi…remember it? Going back a couple decades, it was a rising star in the U.S. market. Now, it hopes to make a real comeback with its 5-year Momentum 2030 North America business plan. That will “start immediately,” the Japanese automaker says, with an assortment of new and completely refreshed vehicles heading to American showrooms — including EVs, plug-ins and conventional hybrids.
Shake-Up at Stellantis Claims Once-Rising Star Tim Kuniskis
In the wake of the mega-merger between Fiat Chrysler Automobiles and Paris-based PSA, Tim Kuniskis seemed the fair-haired boy, the American executive CEO Carlos Tavares could turn to when there was a problem to be solved. But Kuniskis unexpectedly announced his retirement Friday, with replacements named to take on his duties at Dodge and Ram.
Musk’s Antics Could Cost Him $56 Billion Pay Package
Elon Musk’s increasingly mercurial behavior is having a substantial impact on the Texas-based EV maker. But it may also have a serious impact on the Tesla CEO himself as shareholder resistance grows to the $50 billion pay package the automaker wants to give Musk. A key investor, and former Musk “fanboy,” voting no.
Chinese EV Imports Pose “An Extinction Level Event”
President Joe Biden raised tariffs on an assortment of Chinese-made goods, including the battery-electric vehicles manufacturers like BYD, Geely and Great Wall have been hoping to start selling in the U.S. The threat of these inexpensive EVs – some starting at barely $10,000 – has sent shivers through the American auto industry, one trade group warning their arrival poses an “extinction-level event.” Headlight.News explains why.
Musk Appears to Reverse Course on Tesla Supercharger Cuts
Just days after firing the head of Tesla’s Supercharger operations – and dismissing her entire 500-person staff – CEO Elon Musk appeared to reverse course, announcing on his social media site X that the automaker still will invest “well over” $500 million on “new sites and expansions” of the public charging system. The apparent turnaround comes as Tesla comes under increasing pressure from Tesla investors, analysts, owners and other automakers who have done deals to gain access to the Supercharger network for their own EV customers.
Subaru Plans 8 EVs by 2028 – 4 From Partnership with Toyota
Subaru’s only EV, the Solterra, is a product of a joint venture with Toyota – and the Japanese automaker plans to take the same approach with its next three battery-electric vehicles, all due out by 2026. Then it plans to bring out four more, developed in-house, by 2028, its CEO said Monday.
Trump Vows to Reverse Biden EV, Auto Emissions Rules – for $1 Billion
President Donald Trump outlined a series of changes he’ll make to the Biden administration’s policies on EVs and other environmental rules if he wins reelection next November. But the changes he promised during a meeting with oil industry CEOs carries a $1 billion quid pro quo in campaign funds.
Rivian Q1 Earnings Fail to Make Grade, CEO Declines Comment on Apple Talks
EV maker Rivian reported first quarter earnings that were slightly better than its year-ago results but ended up falling short of analysts’ expectations. The company generated more revenue, but increased costs chewed up profits. Find out more about what happened at Headlight.News.
Lucid Reports Mixed Results, Focusing on Growth Over Profit
Nascent EV maker Lucid Motors reported its first quarter results, exceeding expectations in some areas while falling short in others. CEO Peter Rawlinson brushed aside concerns about shortcomings, noting the company was focused on growth, specifically the company’s second vehicle, the Gravity SUV. Get details at Headlight.News.