Elon Musk’s net worth crossed $400 billion, boosted by a nearly 71% surge in the automaker’s shares this year and the soaring valuation of his rocket company SpaceX.
Read More Elon Musk’s net worth tops $400 billion, Forbes billionaires list shows
Tag: electric vehicles
GM Cuts 1K Jobs In Cost-Cutting Reorganization
General Motors laid off almost 1,000 employees on Friday as the automaker attempts to cut costs and realign priorities amid changing market conditions.
Read More GM Cuts 1K Jobs In Cost-Cutting Reorganization
Tech market values jump in September on Fed rate cuts, AI optimism
The market capitalization of many tech firms surged in September, buoyed by a Federal Reserve rate cut that typically enhances future profits and cash flows for high-growth companies.
Read More Tech market values jump in September on Fed rate cuts, AI optimism
U.S. Commerce Department Proposes Banning Chinese And Russia-Made Software In Cars
The U.S. Commerce Department has proposed to ban Chinese and Russian-made hardware and software in internet-connected vehicles in the United States due to “national security concerns.”
Read More U.S. Commerce Department Proposes Banning Chinese And Russia-Made Software In Cars
China’s robot makers chase Tesla to deliver humanoid workers
China is chasing Tesla in the race to build battery-powered humanoids expected to replace human workers building EVs on assembly lines.
Read More China’s robot makers chase Tesla to deliver humanoid workers
Ford Changing EV Strategy, Drops All-Electric Three-Row SUV, Division Is On Pace To Lose $5.5B This Year
Automaker Ford announced that it is recalibrating its EV strategy over concerns of not making enough profits, including getting rid of an electric SUV.
Read More Ford Changing EV Strategy, Drops All-Electric Three-Row SUV, Division Is On Pace To Lose $5.5B This Year