💼 SAIC plans to cut thousands of jobs from its joint ventures with General Motors (GM) and Volkswagen. 🛠️ The automaker intends to cut 30% of employees at SAIC-GM and 10% of workers at SAIC Volkswagen, along with layoffs at its Rising Auto EV subsidiary. 📉 Job losses in state-owned Chinese companies are rare, but…
💼 Tesla will announce its financial results for Q1 2024 on April 23, 2024. 📅 The Q1 2024 earnings call will take place at 4:30 p.m. CT (5:30 p.m. ET) on the same day. 🚗 Tesla produced over 433,000 vehicles and delivered approximately 387,000 vehicles in Q1 2024. 📉 Q1 2024 vehicle deliveries fell below…
💼 Hyundai Motor of America’s EV sales for Q1 2024 surged by 62% compared to Q1 2023. 📈 The automaker reported a 100% growth in EV sales for the same period. 📅 Record-breaking March sales contributed to Hyundai’s overall performance, with 76,920 units sold. 🚗 The IONIQ 5 electric vehicle emerged as a consumer favorite,…
💰 RBC Capital values Tesla’s progress in autonomy (FSD) more than its car business. 📈 RBC Capital sees Tesla’s one-month free FSD trial as potentially boosting Q2 2024 performance. 🏎️ Tesla’s Q1 2024 deliveries saw an 8.5% year-over-year decline. 🌍 Factors affecting Tesla’s Q1 deliveries include factory shutdowns and shipping issues. 🚗 RBC Capital predicts…
🚗 Future releases of Tesla’s Autopark feature will park cars even faster. ⏩ The first iteration of the updated Autopark software was tuned conservatively, according to Tesla Autopilot Director Ashok Elluswamy. 🔄 Tesla has transitioned its Full Self-Driving (FSD) system from “beta” to “FSD (Supervised)” and is rolling out FSD v12 to customers and employees.…
🏆 Rivian’s R1T electric pickup earns top safety score from IIHS 📈 Boosts truck’s status to Top Safety Pick+ in large pickup category 🛡️ “Good” score in updated moderate overlap front test secures plus status 🚗 Other large pickups, like the 2024 Toyota Tundra, receive base-level Top Safety Pick ⚡ Other EVs, including 2024 Tesla…
💡 Fatal traffic incidents in the U.S. dropped by 3.6% in 2023. 📉 The number of fatalities decreased to around 40,990 from 42,514 in 2022 and 43,230 in 2021. 🛣️ Despite the decrease, fatalities haven’t returned to pre-pandemic levels. 📈 Total miles driven in 2023 surpassed pre-pandemic levels, resulting in a lower fatality rate compared…
💼 Canoo responded to media reports regarding its Q4 and 2023 financial results, particularly addressing concerns about its 2024 revenue forecast. 💰 Canoo reported a GAAP net loss and comprehensive loss for Q4 2023 and the full year, which were lower compared to the same periods in 2022. 📉 The company’s 2024 revenue forecast of…
🚗 Tesla outsold BYD in Q1, regaining the title of the world’s largest EV seller. 🔢 Tesla delivered 386,810 vehicles in Q1, while BYD delivered approximately 300,114 BEVs. 📉 Tesla’s deliveries marked an 8.5% decline year over year, while BYD fell 43% from its record quarterly high in Q4. 🌍 China remains a crucial market…
💼 Rivian beat Q1 2024 estimates by delivering 13,588 vehicles. 🏭 Rivian produced 13,980 vehicles in Q1 2024, surpassing Wall Street’s expectations. 📈 Rivian’s Q1 2024 production and delivery results exceeded both company and analyst forecasts. 📉 Despite strong Q1 performance, Rivian’s stock experienced a 6.23% drop in Tuesday’s premarket. 📅 Rivian will release its…