With its losses mounting and stock price tumbling, Canoo appears to be the latest EV start-up to face the threat of collapse. The company furloughed 30 employees at its factory in Oklahoma, even as two more of its top executives resigned.
Executives
Ford Posts Mixed Q3 Results, Revises Full-Year Earnings Downward
Ford Motor Co. reported third-quarter earnings that beat some analysts’ expectations while falling short in other areas. The company revised its full-year earnings forecast after it took a $1 billion charge and saw the impact of a pricing war on its bottom line. Get details at Headlight.News.
As Sales of the Original ID.4 Plummet, VW Again Delays U.S. Launch of Bigger ID.7
Volkswagen will “probably” not launch its next battery-electric vehicle, the ID.7 sedan, until sometime next year in the U.S., and some suspect it could be pushed back even further as it struggles to reverse plummeting sales of its original ID.4 SUV.
Consumers Showing a Bit More Confidence in Self-Driving Vehicles
A new study shows consumers expressing more confidence in fully automated self-driving vehicles. Good news for Tesla CEO Elon Musk and others expanding their autonomous vehicle testing and planning. Find out more at Headlight.News.
Roadster Delayed, Entry Model Dead – But How About a Flying Tesla?
After a rough start, Tesla appeared to get back on track during the third quarter, beating both sales and earnings estimates. But, buried amidst all the financial data, CEO Elon Musk said there won’t be a $25,000 Tesla and the EV maker’s potentially rocket-powered Roadster is delayed – again. But he may be working on a flying Tesla.
Tesla Beats Q3 Profit Expectations from Wall Street
EV maker Tesla reported better-than-expected results for the third quarter. The Texas-based company beat the analysts’ profit forecasts despite coming up slightly short on revenue predictions. Get the details of the company’s third quarter results at Headlight.News.
GM Reports Rise in Q3 Revenue, Exceeds Analysts’ Expectations
General Motors brought in more money during the third quarter compared to a year ago, but those additional funds didn’t translate to bigger profits. However, the numbers did give the company reason to revise its earnings upward. Find out more at Headlight.News.
Automakers Use Paris Motor Show to Push Back Against Combustion Engine Bans
Just months ago, it seemed, the internal combustion engine was on its way out, with regulators planning to phase out the technology – in some markets, like Europe, within barely a decade. While automakers once seemed ready to go along they’re now beginning to push back. That includes BMW’s CEO who called for a “correction” of EV-only strategies at this week’s Paris Motor Show.
Wall Street Wary About Tesla’s Shift from EVs to Robotaxis
Tesla appears to be planning a shift away from its once groundbreaking EVs to put more focus on a line of robots and robotaxis but that has generated some significant pushback from investors who question the new business model announced by CEO Elon Musk during a flashy Hollywood rollout last week.
New GM Defense Vehicle Offers More Stealth, Better Range for U.S. Armed Forces
General Motors defense unit continues to offer new vehicles with evolutionary updates designed to keep up with the changing needs of today’s warfighter. It’s showing off the prototype of its next-generation tactical vehicle at AUSA 2024. Check it out at Headlight.News.
Under Increasing Pressure, Stellantis CEO Carlos Tavares to Retire – But Not Until 2026
Facing mounting criticism for the automaker’s recent plunge in sales and earnings, Stellantis CEO Carlos Tavares will retire in 2026. The announcement comes amidst a major shake-up in the automaker’s Euro-American management team.
Tesla Cybercab Highlights Elon Musk’s Glimpse into the Future
An ebullient Elon Musk took to the stage Thursday night not just to show off the long-awaited Cybercab, Tesla’s CEO offered a peek at what his idea of what the future should be, and that kicks off sometime near the end of 2026 when the first Cybercabs go into production. Get details at Headlight.News.