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One of Tesla’s main rivals is planning to take legal action against an activist short-seller that accused it of being “an intricate fraud.” Shares of electric automaker Nikola — which like Tesla is named after the 19th-century inventor — were down more than 15 percent Friday afternoon after a report from Hindenburg Research accused founder …
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The newest electric car from Volkswagen has been critically panned by a German auto magazine, which said the vehicle fell short of the world’s largest automaker’s usual standards. In addition to sub-par fit and finish, with “Auto Motor und Sport” describing the inside of the hood as looking “like it was painted with a spray …
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Uber on Tuesday said every vehicle on its global ride-hailing platform will be electric by 2040, and it vowed to contribute $800 million through 2025 to help drivers switch to battery-powered vehicles, including discounts for vehicles bought or leased from partner automakers. Uber, which as of early February said it had 5 million drivers worldwide, …
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General Motors has taken an 11 percent stake in electric-vehicle maker Nikola, through a multibillion-dollar partnership with the Tesla rival announced Tuesday. Under the deal, GM will get $2 billion in Nikola stock to engineer and manufacture the all-electric Badger pickup truck that the Phoenix-based startup first unveiled in February. Nikola will also get access …
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Tesla shares continued their meteoric rise on Thursday, scoring yet another record high and further expanding the distance between the Silicon Valley electric carmaker and its traditional auto industry rivals. Tesla shares rose to $2,290 in mid-day trading before leveling out at $2,240, the highest price since the company went public at $17 a share …
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Tesla shares extended their rally on Wednesday ahead of a quarterly report from the electric-car maker that might clear the way for it to join the S&P 500 and attract some $40 billion in new demand for the stock. A net profit, under Generally Accepted Accounting Principles, would mark four consecutive profitable quarters, a first …
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Germany has banned Tesla from repeating what a court says are misleading advertising statements relating to the capabilities of the firm’s driver assistance systems and to autonomous driving, a Munich judge ruled on Tuesday. Tesla can appeal the ruling. The case was brought by Germany’s Wettbewerbszentrale, an industry-sponsored body tasked with policing anti-competitive practices. The …
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Tesla on Monday slashed the price of its Model Y SUV by $3,000, just four months after its launch, as it looks to keep up its strong sales numbers amid the global pandemic. The Model Y now starts at $49,990, down nearly 6 percent from its previous price of $52,990, according to Tesla’s website. The …
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Electric vehicle startup Rivian, which is backed by Amazon and Ford and aims to put an electric pickup and SUV in production in 2021, boosted its war chest further with a $2.5-billion investment round led by T. Rowe Price, Rivian said Friday. The deal comes on the heels of electric-car maker Tesla’s meteoric rise in …
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The United Nations (U.N.) announced Sunday the electric car boom will result in a number of devastating ecological side effects for the planet. While the shift to electric cars reflects ongoing efforts to reduce the world’s dependence on fossil fuels, the UN warns that the raw materials used to produce electric car batteries are highly …
One of Tesla’s main rivals is planning to take legal action against an activist short-seller that accused it of being “an intricate fraud.” Shares of electric automaker Nikola — which like Tesla is named after the 19th-century inventor — were down more than 15 percent Friday afternoon after a report from Hindenburg Research accused founder …
