Transportation

Ford Motor Company has sold a majority of its Rivian shares, according to regulatory filings. Ford’s stake in the electric vehicle maker, which has been dropping steadily since May 2022, is now at 1.15%, or 10.5 million shares. The sell comes a week after Ford reported a $7.3 billion write-do

After years of pressure from the autonomous vehicle industry, The California Department of Motor Vehicles is on the verge of allowing companies to test and deploy self-driving trucks on public roads.  Now, a new speed bump has emerged. California Assembly Member Cecilia Aguiar-Cur

Battery materials and recycling startup Redwood Materials has secured a conditional commitment for a $2 billion loan from the Department of Energy as part of the Biden administration’s bid to build up a supply chain for EVs in the United States. The conditional commitment from DOE’s loa

Automakers have struggled in recent years to secure the semiconductor chips needed in today’s modern and increasingly tech-laden vehicles. The shortage has chipped away at profits, periodically idled factories and left automakers with unfinished vehicles that consumers are ready to buy. Now,

Tesla CEO Elon Musk tweeted Wednesday that he will present the long-awaited and often teased Master Plan 3 during the company’s investor day March 1. Tesla’s investor day will be held at the company’s Gigafactory Texas located near Austin. The event will be livestreamed. Some of t

Goole is rollin out new features for electric vehicles with Goole Maps built in, the company said at its Live from Paris event Wednesday. The features, iterations of which were introduced in November to the Maps smartphone app, aim to alleviate the symptoms of rane anxiety for EV drivers.

Mercedes-Benz said Tuesday that its long-anticipated and updated battery-electric eSprinter is finally coming to North America, with production set to begin in the second half of 2023 at its factory in Charleston, South Carolina. The Mercedes-Benz eSprinter — and its arrival to the United States

Vietnamese electric vehicle maker VinFast is cutting jobs in the United States and Canada as part of a restructuring that will merge operations across the two countries. The restructuring comes as VinFast prepares to enter the U.S. public market and delays deliveries to its first customers in the c

Canoo has agreed to sell 50 million shares at a steeply discounted price as the cash-strapped EV company seeks the money it needs to keep its operations running. Canoo said Monday it would sell 50 million new shares to unnamed investors for $1.05 per share, a 16% discount from its closing price Fri

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Elon Musk was found not liable in a class-action securities fraud trial that centered on the Tesla CEO’s now infamous “funding secured” tweet. After less than 90 minutes of deliberation, a jury announced the verdict in the trial that kicked off three weeks ago in San Francisco. Th

A few more electric vehicle models now qualify for the federal EV tax credit, including GM’s Cadillac Lyric, the Ford Mustang Mach-E and Tesla’s five-seater Model Y, thanks to a change by the U.S. Treasury. The U.S. Treasury Department updated Friday the vehicle classification standard,

Peer-to-peer car-sharing company Getaround is laying off 10% of staff starting Thursday. The layoffs are part of a restructure aimed to put Getaround on the path to “sustainable profitability and long-term growth,” the company said in a statement. Per LinkedIn, Getaround has 421 employe

Ford reported Thursday it earned $10.4 billion in net income last year, falling well below its own guidance and missing Wall Street’s expectations as the U.S. automaker struggled with supply chain issues and production instability that drove down sales and pushed operating costs higher. Share