The CEO of Canoo is buying nearly all of the defunct EV startup’s assets out of bankruptcy, according to a court filing. A new entity controlled by the CEO, Anthony Aquila, has offered to purchase “substantially all” of the assets for $4 million in cash. The sale will also wipe clean a more-than-$11 million debt […]
Canoo’s CEO is buying the bankrupt EV startup’s assets Read More »
Rivian’s cost–cutting measures have gotten it a lot closer to profitability, but the company is warning that 2025 could still be a challenging year – especially because of the whorl of uncertainty caused by the new Trump Administration. The company announced Thursday its fourth quarter and full-year 2024 financial results, and along with it, shared
Electric trucking startup Nikola is hoping to sell what remains of its whole business as early as April, lawyers for the company told a judge Thursday during the first hearing of its bankruptcy case in Delaware. The lawyers claimed Nikola already has at least three interested buyers (who they did not name) and that the
Bankrupt Nikola wants to sell its whole business by April Read More »
Ford CEO Jim Farley has a question about President Donald Trump’s threatened tariffs on imports from Mexico, Canada, and China: Why stop there? Farley said in a conference call Wednesday that Trump’s selective approach “doesn’t make sense.” “Why are we having this conversation while Hyundai-Kia is importing 600,000 units in the U.S. with no incremental
Ford goes protectionist as EV losses top $5B Read More »
In May 2023, Ford triggered a transformation when the U.S. automaker locked in a deal to give owners of its EVs access to the Tesla Supercharger network. In a stunning shift, automaker after automaker — from GM and Hyundai to Rivian and Mercedes — followed suit. By the end of 2023, nearly every major automaker
Tesla Superchargers: GM, Ford, Rivian, and other EV brands with access Read More »
Tesla has announced that its redesigned Model Y SUV is coming to the U.S., Canada, and Mexico in March, with a starting price just shy of $60,000. The news comes just two weeks after Tesla first revealed the new-look Model Y and said it was coming to China and other Asian markets, also in March.
Tesla’s redesigned Model Y is coming to North America in March for $60,000 Read More »
President Donald Trump is trying to halt the flow of funding for EV charging infrastructure from two programs that Tesla has benefitted from — the latest example of how Elon Musk’s political interests seem to be at odds with his car company’s goal of advancing sustainable energy. It’s not a given that Trump’s gambit will
Trump targets EV charging funding programs Tesla benefits from Read More »
Seven-year-old electric vehicle startup Canoo has filed for bankruptcy and will “cease operations immediately.” The company is liquidating its assets in a Chapter 7 proceeding in the Delaware Bankruptcy Court. The company said in a press release published late Friday that it was “in discussions with foreign sources of capital” that proved unsuccessful, and also
EV startup Canoo files for bankruptcy and ceases operations Read More »
Rivian and the Department of Energy have finalized a $6.6 billion loan announced in November with just a few days left until Donald Trump’s inauguration. The company will use the loan to help build out its planned factory in Georgia, east of Atlanta, with construction beginning in 2026. The first R2 SUVs are scheduled to
Rivian finalizes $6.6B loan for its Georgia factory Read More »
Volvo spinoff Polestar had a rough 2024, and 2025 looks like it could be just as difficult. The EV maker announced Thursday that it expects to generate less revenue in fiscal year 2024 than it did in 2023, after previously estimating sales would stay the same. That’s thanks to “fewer than expected Polestar 3 and
Polestar digs in for another grim year Read More »
