EVs

Redwood Materials reportedly cuts 5% of staff after $350M raise

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Fresh off a $350 million raise, battery recycler and cathode-maker Redwood Materials is reportedly cutting around 5% of its workforce, according to Bloomberg News. Nevada-based Redwood employees around 1,200 employees, so the cuts affect a few dozen workers. The company, founded in 2017 by former Tesla CTO JB Straubel, initially focused on recycling scrap from […]

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Another fire breaks out at aluminum plant that supplies Ford

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Another fire has broken out at the Novelis aluminum plant in Oswego, NY that supplies sheet metal for Ford’s trucks, including its all-electric F-150 Lightning. The four-alarm fire started Thursday morning and has still not been extinguished. Local news outlet CNY Central was the first to report the new blaze. The Novelis plant suffered a

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Tesla receives ride-hailing permit in Arizona in last required step to launch robotaxi service

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Tesla received a ride-hailing permit this week from Arizona regulators, opening the door for the automaker to begin operating a robotaxi service in the state. A spokesperson with Arizona Department of Transportation (ADOT) told TechCrunch the automaker applied for a Transportation Network Company (TNC) permit on November 13. Tesla met the requirements to operate as a

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Self-driving trucks startup Einride plans to go public via a SPAC

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Einride said Wednesday it plans to go public via a merger with a special purpose acquisition company, just six weeks after the Swedish electric and autonomous truck startup raised $100 million from investors. The SPAC merger with Legato Merger Corp. values Einride at $1.8 billion in pre-money equity, according to the companies. The deal is

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Norway’s wealth fund vote is latest blow to Musk’s $1 trillion pay package

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Norway’s sovereign wealth fund has voted against a Tesla proposal to give CEO Elon Musk a compensation package worth $1 trillion. The fund, which is managed by Norges Bank Investment Management, holds a 1.14% stake in Tesla valued at about $11.7 billion, according to its mid-year filings in June. “While we appreciate the significant value

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GM cuts thousands of EV and battery factory workers

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General Motors is laying off thousands of workers across multiple electric vehicle and battery plants in the U.S., according to multiple outlets. Around 1,200 employees at the company’s EV factory in Detroit, Michigan, are being placed on “indefinite layoff.” Further cuts and temporary layoffs are being made at GM’s Ultium Cells battery factories in Ohio

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