Electric vehicles articles
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Tesla profits plunge as it grapples with slumping electric vehicle sales
Mounting competition in the stuttering electric vehicle market is taking the juice out of Tesla. The automaker's first-quarter profit plummeted 55% as falling global sales and price cuts sliced into the EV maker's revenue and earnings. The company said Tuesday it made $1.13 billion in profit from January through March, compared with $2.51 billion in the same period a year ago. Revenue was $21.3 billion, down 9% from last year, the company said.Tesla executives blamed the dip partly on EV sales...
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No electric vehicle production in SA for about 10 years, says VW
Volkswagen Group Africa, one of South Africa’s biggest auto manufacturers, says it will start manufacturing electric vehicles only in about 10 years’ time, since the African market is not ready for them.
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Canada launches offensive in electric vehicle manufacturing subsidy war
Canada is investing more money to help automakers build out EV supply chains, as it looks to compete with incentives offered under the U.S. Inflation Reduction Act.