Friday, November 22

Tag: electric vehicles

U.S. is pushing China to change a policy threatening American jobs, Treasury Secretary Yellen says
8Apr By adminNo Comments
Money

U.S. is pushing China to change a policy threatening American jobs, Treasury Secretary Yellen says

The Biden administration is pushing China to change an industrial policy that poses a threat to U.S. jobs, Treasury Secretary Janet Yellen said Monday after ending four days of talks with Chinese officials.She also said she and Chinese officials had "difficult conversations" about national security, including American concerns that Chinese companies are supporting Russia in its war in Ukraine.But the focus of her trip was industrial policy, and what the U.S. and Europe describe as manufacturing overcapacity in China. Wealthy nations fear a wave of low-priced Chinese exports that will overwhelm factories at home, undercutting prices from U.S. manufacturers and risking job losses. Still, Yellen also stressed that the U.S. is seeking "a healthy economic re...
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Tesla Is Going All In on Robotaxis—Buckle Up
6Apr By adminNo Comments
Technology

Tesla Is Going All In on Robotaxis—Buckle Up

Mark your calendars: Tesla CEO Elon Musk suggested this afternoon that his electric automaker is going all-in on autonomous vehicle tech—and that Tesla’s robotaxi will be unveiled on August 8.The announcement, posted by Musk on X Friday afternoon, capped off a weird day of reports and counter-reports that sent Tesla’s stock on a roller-coaster ride, slipping down 6 points on the day before recovering in after-hours trading. Earlier in the day, Reuters reported that Tesla had canceled long-gestating plans to develop an affordable electric vehicle for the masses. The “next generation” vehicle is widely thought to be key to the electric automaker’s survival, especially as competition heats up in the EV space. Instead, the news agency reported, Tesla would focus on building a robotaxi, which ...
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Treasury secretary heads to China to talk trade, anti-money laundering and Chinese ‘overproduction’
4Apr By adminNo Comments
Money

Treasury secretary heads to China to talk trade, anti-money laundering and Chinese ‘overproduction’

JOINT BASE ELMENDORF-RICHARDSON, Alaska -- Treasury Secretary Janet Yellen is headed to a China determined to avoid open conflict with the United States, yet the world's two largest economies still appear to be hashing out the rules on how to compete against each other.There are tensions over Chinese government support for the manufacturing of electric vehicles and solar panels, just as the U.S. government ramps up its own aid for those tech sectors. There are differences in trade, ownership of TikTok, access to computer chips and national security — all of them a risk to what has become a carefully managed relationship.The 77-year-old Yellen, a renowned economist and former Federal Reserve chair, laid out to reporters the issues that she intends to raise with her Chinese counterparts dur...
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Tesla sales drop as competition in the electric vehicle market heats up
3Apr By adminNo Comments
Money

Tesla sales drop as competition in the electric vehicle market heats up

Tesla sales fell sharply last quarter as competition in the electric vehicle market increased worldwide and price cuts the company enacted months ago failed to entice more buyers.The Austin, Texas, company owned by Elon Musk, said Tuesday it delivered 386,810 vehicles from January through March, almost 9% below the 423,000 it sold during the same period last year. The company blamed the decline in part on phasing in an updated version of the Model 3 sedan at its Fremont, California factory. Plant shutdowns due to shipping diversions in the Red Sea, and an arson attack that knocked out power to its German factory also caused fewer deliveries, it said. Last year, Tesla dramatically lowered prices by up to $20,000 for some models. In March, it temporarily knocked $1,000 off the Model Y, its ...
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The 18 Best EVs Coming in 2024
2Jan By adminNo Comments
Technology

The 18 Best EVs Coming in 2024

The Ioniq 7 is expected to be one of the last models to use the Hyundai Group’s E-GMP platform. In 2025 we’ll see the first vehicles based on its next-gen EV platforms: eM and eS. The eM will apparently allow for a 50 percent improvement in range on a single charge, as well as supporting Level 3 autonomous driving or higher. It will also employ the group's “Integrated Modular Architecture,” standardizing key components like battery and motors. The eS is an EV platform for commercial Purpose Built Vehicles like those used for ride pooling, cargo hauling, and deliveries.Range Rover ElectricPhotograph: Land RoverLand Rover has taken its time getting there, but the full electric Range Rover has finally been slated for production in 2024. On-road testing has already begun in all sorts of condi...
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Nikola Corp founder gets 4 years prison for exaggerating claims on zero-emission trucks
19Dec By adminNo Comments
Money

Nikola Corp founder gets 4 years prison for exaggerating claims on zero-emission trucks

The founder of Nikola Corp. was sentenced Monday to four years in prison for his conviction for exaggerating claims about his company's production of zero-emission 18-wheel trucks, causing investors to lose hundreds of thousands of dollars.Trevor Milton learned his fate in Manhattan federal court when Judge Edgardo Ramos announced the sentence, saying he believed that a jury in October 2022 "got it right" when it convicted him. The judge also ordered Milton to pay a $1 million fine."Over the course of many months, you used your considerable social media skills to tout your company in ways that were materially false," the judge said, noting investors suffered heavy losses. "What you said over and over on different media outlets was wrong." A report from ...
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BLive looking to raise $5 million in next 6 months, says CEO Kholkar
25Nov By adminNo Comments
Business

BLive looking to raise $5 million in next 6 months, says CEO Kholkar

BLive, a multi-brand electric vehicle platform, is looking to raise USD 5 million in the next six months, its CEO and co-founder Samarth Kholkar said on Friday. The investor interest in BLive is "strong", Kholkar said, adding that the company is hopeful of making a funding-related announcement in the next six months. "We have raised under USD 2 million over a period of time, and we are looking to raise USD 5 million now because our primary interest is to invest in technology and people. "Technology, because we are a platform at the end of the day, which has a lot of data coming in, now it is time to consolidate, extrapolate and use the latest technology, including blockchain to ensure we can scale up our business from a typical 10X to a 100X," he said. B...
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The Real Reason EV Repairs Are So Expensive
19Nov By adminNo Comments
Technology

The Real Reason EV Repairs Are So Expensive

“If you’re replacing a damaged battery with a new one, suddenly, once you’ve added in the other costs in terms of labor and hire cars,” says Mark Fry, an engineering manager at Thatcham Research, “it’s just not always economical to repair the car.”A spokesman for the Association for British Insurers adds that there are issues around the availability of repairers in the UK. The EV insurance market is, arguably, a little wobbly at present. In September, major British retailer John Lewis was forced to stop insuring EVs altogether after its underwriter, Covéa, withdrew cover for these vehicles. A spokeswoman for Covéa declined to clarify why the firm changed tack.Some US-based insurance firms also exclude EVs, says Tim Zawacki, an analyst at S&P Global Market Intelligence. He says the ind...
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