Topic: tax credit
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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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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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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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