Category: fox-news/fox-news-auto/fox-news-attributes/fox-news-electric

Hybrid vehicle sales revving up as EV demand sputters

Polling shows most Americans consider emissions when buying a new car, but despite the push for electric vehicles, data shows consumers prefer other “green” alternatives. Brian Moody, executive editor at Kelley Blue Book, says the hottest auto trend for this year is: “Hybrids – a lot more hybrids.” In an interview with FOX Business, Moody said it is overstating to say that people have rejected…

Elon Musk boosting pay of AI engineers to prevent poaching from OpenAI

Tesla CEO Elon Musk said the electric vehicle giant is giving its artificial intelligence engineers a raise as the automaker tries to fend off poaching efforts by ChatGPT creator OpenAI. The tech billionaire made the revelation in a series of X posts Wednesday, confirming a report from The Information that Tesla machine-learning scientist Ethan Knight left for Musk’s AI startup, xAI. “Ethan was going to…

Ford postpones rollout of some new EVs as demand wanes

Ford Motor Co. is pumping the brakes on the production of two forthcoming electric vehicle models as demand for EVs continues to wane. In a manufacturing update Thursday, Ford announced that it is pushing back the production launch of its planned three-row electric SUV at its assembly plant in Oakville, Ontario, from 2025 to 2027. The automaker said the two-year delay of its new SUV…

Utilities experts speak on nation’s ability to accommodate wider EV adoption: ‘Doesn’t just happen magically’

Last month, the Biden administration finalized highly-anticipated environmental regulations that are ultimately intended to incentivize wider adoption of electric vehicles (EV).  The aggressive emissions standards for gas-powered vehicles are meant to compel automakers to increase production and sales of EVs, plug-in hybrids, traditional hybrids and fuel cell vehicles.  Under one “low cost” model outlined by the Environmental Protection Agency (EPA), officials said automakers would be…

Tesla’s tough quarter has investors anxious

Tesla’s first-quarter delivery figures that are expected to be released next week are forecast to be relatively soft amid intensifying competition and lagging demand — a dynamic that has investors on edge ahead of the release. The EV maker, led by Elon Musk, is bracing for a slowdown in 2024 after years of rapid sales growth, with analysts lowering their expectations for the company’s first-quarter…

Tesla has new competition with a Chinese EV priced lower than Model 3

Tesla is getting some more EV competition in China. It is coming from Xiaomi, a Chinese consumer electronics company that officially introduced its electric SU7 sedan during a Thursday event involving co-founder Lei Jun, Barron’s reported. The cheapest model of the SU7 has a price tag that equates to roughly $30,000, according to the outlet. Xiaomi is reportedly working with Beijing Automotive Group Co. on…

Tesla deliveries expected to slump on China competition, weak demand

Electric vehicle maker Tesla is expected to release first-quarter delivery figures next week that show a sales slowdown amid increasing competition in the EV market and a waning boost from price cuts. The world’s most valuable automaker has seen years of rapid sales growth but is bracing for a slowdown in 2024. Tesla is projected to deliver 458,500 vehicles in the quarter ending March 31,…

Musk rips purported eco-terrorists for suspected arson at Tesla Gigafactory: ‘Extremely dumb’

Tesla CEO Elon Musk slammed a suspected arson attack on his Gigafactory near Berlin as “extremely dumb” after far-left activists claimed responsibility. German authorities said a fire brigade responded Tuesday after an electricity pylon close to the facility was set ablaze, knocking out power and forcing production to stop. The head of Tesla’s factory – Musk’s first in Europe – told Reuters power is expected…

California electric vehicle mandates are misguided, environmental lawyer says

Regulatory mandates to compel the adoption of electric vehicles (EVs) may create new emissions problems that undercut some of the green goals they seek to achieve, according to an environmental lawyer. Boyden Gray PLLC law firm partner Michael Buschbacher, who worked in the Justice Department’s Environment Division in 2020-21 and specializes in environmental law at his current firm, said in an appearance on FOX Business…

Ford sales jumped in February, led by gains in hybrids and EVs

Ford Motor announced Monday that the company’s U.S. sales jumped 10.5% in February with strong sales growth among electric vehicles (EVs) and hybrid vehicles. Sales of Ford’s hybrid vehicles increased 36.7% year-to-date through February, with sales in February up 31.5% compared to a year ago with 12,045 vehicles sold. “Hybrid vehicles continue to be a growth segment for Ford and sales have grown at a…

Lawyers who voided Elon Musk’s ‘excessive’ Tesla pay package want $6 billion fee

The lawyers who voided Elon Musk’s $56 billion Tesla compensation package as being excessive are seeking a record $6 billion legal fee payable in the company’s stock. “We recognize that the requested fee is unprecedented in terms of absolute size,” the three law firms said in a filing with the Delaware Court of Chancery. The law firms said the fee works out to an hourly…

Ford pauses shipments of new F-150 Lightning EVs

Ford Motor Company said Friday that it has halted shipments of all 2024 model year F-150 Lightning electric pickup trucks so that the company could perform quality checks for an unspecified issue. The Detroit automaker said the pause on shipments began on Feb. 9 and didn’t say when it expected to resume shipments of the EV truck that had begun in January.  A Ford spokesperson…

Ford, GM CEOs open to partnerships to compete with China

The CEOs of leading U.S. automakers Ford and GM on Thursday signaled they are open to considering partnerships to lower the cost of electric vehicle technology to compete with low-cost Chinese EVs looking to the U.S. and European markets. “If there’s ways that we can partner with others, especially on technologies that are not consumer-facing, and be more efficient with R&D as well as capital,…

Tesla cuts Model Y prices in US to boost sales as competition from China heats up

Tesla has temporarily cut the prices of some of its Model Y cars in the U.S. through the end of February less than a month after the electric vehicle maker cut Model Y prices in Germany. Tesla reduced prices for its Model Y rear-wheel drive and Model Y Long Range by $1,000 each to $42,990 and $47,990, respectively. The temporary price cuts run until Feb….

Ford’s profits getting eaten up by EVs

The electric vehicle (EV) push is eating into Ford’s profit margins as the company seeks to find the right mix between profitable vehicles consumers want today and the next generation of EVs that may be in higher demand as the market’s preferences shift in the future. Ford Model e, the company’s EV division, had a net loss of $4.7 billion last year — with $1.6…