As European automakers brace for a possible trade war waged by President Trump, they are working to ward off another threat on their home turf: the prospect of paying hundreds of millions of dollars to Tesla and Chinese competitors muscling in on their core markets. Under stricter European Union regulations taking effect this year, automakers … Read more
Tesla on Wednesday reported a sharp drop in profit for 2024 as rivals in China, Europe and the United States chipped away at its lead in the market for electric cars. The company, which is led by Elon Musk, said it made a profit of $2.3 billion during the last three months of 2024. That … Read more
General Motors executives are closely tracking President Trump’s plans to impose tariffs on imports from Canada and Mexico, but the company is not yet making any major changes to its strategy in North America in response to the threatened tariffs. The automaker has pulled together an “extensive playbook” of possible options but won’t put them … Read more
If President Trump has his way, the auto industry’s transition to electric vehicles will soon slam into reverse. He will erase tax credits for electric vehicle purchases, federal grants for chargers, and subsidies and loans to help retool assembly lines and build battery factories. Executive orders issued by Mr. Trump on Inauguration Day amount to … Read more