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
Former President Donald Trump said that he would consider asking X owner Elon Musk if he wanted a position in his Cabinet if he won re-election in the 2024 presidential race.
Read More Trump Says He Would Consider Asking Elon Musk To Join His Cabinet
GM said Monday it is laying off more than 1,000 salaried employees at its software and service units worldwide.
Read More GM lays off over 1,000 salaried software, services employees
General Motors is laying off more than 1,000 salaried employees globally in its software and services division following a review to streamline the unit’s operations, according to CNBC.
Read More GM Lays Off Over 1k Software And Services Employees
Ford Motor is discontinuing a “controversial” dealership initiative for electric vehicles, which at first required store owners to invest up to $1 million in cash in order to sell EVs.
Read More Ford Ends Electric Vehicle Dealership Program, Citing ‘Less Demand’ Than Anticipated
The Biden administration unveiled a new round of tariffs on $18 billion of Chinese imports. The White House said the tariff increases will protect American workers and businesses in response to China’s unfair trade practices.
Read More Biden Administration Announces Additional Tariffs On Chinese Imports