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Tesla Weighed Down by $800 Million in Unsold Cybertrucks

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

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.

Rivian Finishes Q1 in Black Again as Lucid Sets New Delivery Record

Rivian Finishes Q1 in Black Again as Lucid Sets New Delivery Record

American EV makers Rivian Automotive and Lucid Motors released their first-quarter earnings results, each hitting positive markers for the period. Rivian earned another $1 billion in funding from Volkswagen for turning a gross profit. Meanwhile, Lucid hit another vehicle delivery record during the period. Find out more at Headlight.News.