Nikola released its Q1 2024 delivery and production report, stating that the company had a productive first quarter. “We are on track for a successful 2024 by continuing the momentum set in 2023,” said Nikola CEO Steve Girsky. “It’s about more than just setting goals. It’s about following through on our commitments. This includes not only […]
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LG Energy Solution (LGES) plans to start hiring workers for the Arizona battery manufacturing complex by the end of 2024. “This transformative investment will have a lasting impact not only in Arizona but across the country and moves us one step closer toward our clean energy goals,” said Governor Katie Hobbs. “These are the jobs […]
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China-owned SAIC plans to cut thousands of jobs from its joint ventures with General Motors (GM) and Volkswagen. According to people familiar with the matter, the automaker plans to cut 30% of employees at SAIC-GM and 10% of workers at SAIC Volkswagen. The sources also claim that the company plans to lay off workers at […]
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Hyundai Motor of America’s EV sales for the first quarter jumped 62% year-over-year compared to Q1 2023. According to the automaker’s reports, its EV sales grew 100%. Hyundai US had record-breaking March sales, selling 76,920 units, up 2% compared to March 2023. In the same month last year, the automakers sold 75,404 units. For Q1 […]
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Xiaomi aims to increase SU7 production to meet demand. According to local media reports, the Chinese company is asking its suppliers to boost their production capacity to 10,000 SU7 units per month. Xiaomi is collaborating with state-owned BAIC for SU7 production. Initially, it aimed to produce 3,000 vehicles per month in March. The new automaker […]
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RBC Capital values Tesla’s progress in autonomy—or Full Self-Driving (FSD)—above the company’s car business. RBC Capital believes that Tesla’s one-month free FSD trial might be a catalyst in Q2 2024. “Worst case [Tesla FSD] brings folks into the showroom, and best case, it increased the FSD attach rate and possibly increases 3/Y deliveries,” wrote RBC […]
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The Xiaomi SU7 now faces its next biggest hurdles after record pre-orders: production and delivery. Last week, the Xiaomi SU7 set a record, with 88,898 pre-orders placed within 24 hours of opening the order banks. According to SU7 reservation holders, Xiaomi has informed buyers that the Max trim will be delivered in 27 weeks or around six […]
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Chinese new energy vehicle (NEV) automaker BYD released its March 2024 delivery report, providing a delivery estimate for Q1 2024 as well. According to Barron’s, BYD posted delivery results for March 2024 on Monday. It reported delivering approximately 301,631 passenger vehicles last month. In March, the Chinese automaker sold 139,902 fully electric cars and 161,729 plug-in […]
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Tesla Giga Texas is Austin’s largest private employer. Tesla has worked hard on Giga Texas, which is home to the Cybertruck, Model Y, 4680 battery cells, and other innovative projects. According to Bloomberg, Tesla Giga Texas posted its headcount by 86%, making it the largest private employer in Austin. Tesla’s Senior Global Director, Public Policy, […]
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Hyundai is considering hybrid production at its Georgia Metaplant, which was supposed to be dedicated to the electric vehicle (EV) factory. Hyundai’s Metaplant in Georgia is expected to start EV production by October 2024. “We are getting ready for a ramp-up on electric vehicles, and then we are evaluating if we need to maybe add some […]
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