earnings

Tesla Cybertruck pushes past Ford Mach-E to become third best-selling EV in America

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Tesla’s Cybertruck was the third best-selling electric vehicle in the United States in the third quarter, beating out every other EV not made by Tesla. The only two vehicles that sold better were the Model 3 sedan and Model Y SUV. The polarizing truck notched this achievement despite selling at its most expensive trim model […]

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Lucid pumps $1.5B from Saudi wealth fund after CEO warned relying on its ‘bottomless wealth’ was ‘dangerous’

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Saudi Arabia is committing even more money to Lucid Motors as the EV startup struggles to erase its losses. Lucid announced Monday as part of its second-quarter earnings report that an affiliate of the Saudi sovereign wealth fund is committing another $1.5 billion, with half coming in the form of a private placement and the

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Rivian loses $1.45 billion as cost-cutting measures continue

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Rivian lost $1.45 billion in the first quarter, showing that its recent company-wide cost-cutting measures have a ways to go before it can approach profitability. The EV-maker brought in $1.2 billion in revenue in the period, coming in just under its record haul from the prior quarter, according to its first-quarter earnings report that was

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Tesla profits drop 55%, company says EV sales ‘under pressure’ from hybrids

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Tesla profits fell 55% to $1.13 billion in the first quarter from the same year-ago period as a protracted EV price-cutting strategy and “several unforeseen challenges” cut into the automaker’s bottom line. Tesla reported revenue of $21.3 billion in the first quarter, a 9% drop from the first quarter of 2023. Analysts polled by Yahoo Finance

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