Topic: ev sales
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GM Cuts 1,700 EV and Battery Jobs in Michigan and Tennessee
General Motors is laying off 1,700 employees at its Michigan and Tennessee EV and battery plants, reflecting a strategic shift in production despite a recent surge in EV sales. The company's 104% EV sales increase was largely driven by consumers rushing to claim a federal tax credit before it exp...
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Toyota Invests $1.5 Billion in Mobility Startups
Toyota is investing $1.5 billion in mobility startups through two new funds to support innovation from early concepts to scalable businesses. The automotive industry saw a surge in EV sales before a key tax credit expired, with Tesla reporting record deliveries, but now faces challenges sustainin...
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Honda Axes Acura ZDX EV Amid Broader Rollback
Honda has canceled the Acura ZDX EV, reflecting an industry trend of scaling back electrification plans due to shifting consumer demand and market conditions. The ZDX, developed with General Motors, offered a 325-mile range and was discontinued despite production preparations to better align the ...
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EV Owners Face New Hurdle as Waymo's Robotaxi Fleet Tops 2,000
The electric vehicle market is facing challenges due to the transition to Tesla's charging standard and the expiration of federal tax incentives, which may reduce consumer confidence and sales. EV owners are dealing with increasing complexity from needing multiple charging adapters for different ...
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Tesla Sales Surge as Tax Credit Deadline Nears
Tesla's third-quarter vehicle sales surged due to the expiring federal EV tax credit, leading to record deliveries and a profitable quarter with $1.4 billion net income, despite a 37% profit decline from the previous year. The company's revenue exceeded Wall Street expectations, supported by regu...
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The EV Tax Credit Is Gone: What's Next for Buyers?
The federal electric vehicle tax credit has expired, removing a key $7,500 incentive and likely causing a sales dip and higher effective prices for EVs. Prior to expiration, EV sales surged to a record high as consumers rushed to take advantage of the credit, which helped bridge the price gap wit...
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Ford and GM's EV Tax Credit Extension Plan Fails
Ford and General Motors have abandoned their plan to extend the $7,500 electric vehicle tax credit through a temporary leasing program after its official expiration date. The strategy faced political opposition from Republican senators who criticized it as a loophole, leading both automakers to w...
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Ford, GM Buy Their Own EVs to Save $7500 Tax Credit
Ford and General Motors are implementing temporary leasing programs through their financing divisions to preserve the $7,500 EV tax credit for consumers after its official expiration. The strategy involves Ford Credit and GM Financial purchasing vehicles from dealers before the deadline and leasi...
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