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Tesla electric vehicles are parked in a storage lot outside a disused movie theatre in Scottsdale, Arizona, U.S., June 11, 2024. REUTERS/Go Nakamura/File Photo

Consumers boosted 2024 U.S. new-car sales to five-year high

New-car sales in 2024 continued to rise from their pandemic lows, bolstered by replenished inventories and higher incentives.

Elon Musk walks on Capitol Hill on the day of a meeting with Senate Republican Leader-elect John Thune (R-SD), in Washington, U.S. December 5, 2024. REUTERS/Benoit Tessier/File photo

Elon Musk’s net worth tops $400 billion, Forbes billionaires list shows

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.

BROWNSTOWN TOWNSHIP, MI - AUGUST 13: A Chevrolet Volt extended-range electric vehicle sits at an event where Fritz Henderson, CEO and President of General Motors, announced that GM will invest $43 million in Brownstown Township, Michigan to manufacture lithium-ion battery packs for the Chevrolet Volt and other extended-range electric vehicles at the GM Brownstown Battery Assembly facility August 13, 2009 in Brownstown Township, Michigan. The facility is the first lithium-ion battery manufacturing plant in the U.S. operated by a major automaker. (Photo by Bill Pugliano/Getty Images)

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.

Tesla CEO and X owner Elon Musk rides in Tesla's robotaxi at an unveilling event in Los Angeles, California, U.S. October 10, 2024 in this still image taken from video. Tesla/Handout via REUTERS

Musk now says it’s ‘pointless’ to build a $25,000 Tesla for human drivers

Musk appears to have backed into an admission that Tesla dropped its plans for a human-driven $25,000 car, saying it would be “pointless” unless the car was fully autonomous.

Tesla CEO Elon Musk unveils ‘Cybercab’ robotaxi

Tesla CEO Elon Musk showcased on Thursday a long-awaited robotaxi with two gull-wing doors and no steering wheel or pedals and surprised with robovan.

Ford Loses $1.3 Billion On Electric Vehicles In First Quarter of 2024

Ford Motor Company reported a loss of $1.3 billion in the first quarter of 2024 on electric vehicles or more than $130,000 for each EV sold.