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Dock workers across the East and Gulf Coasts of the U.S. began a strike on October 1, 2024, potentially disrupting vehicle imports. While immediate impacts may be limited due to existing inventory, European automakers could face significant challenges. Meanwhile, the electric vehicle market in Europe continues to struggle amid declining registrations and job cuts at Northvolt.
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Stellantis is grappling with declining sales and pressure from U.S. dealers and unions. The company has issued a profit warning, anticipating a negative cash flow of up to €10 billion. Labor strikes and inventory issues further complicate its recovery efforts as CEO Carlos Tavares's future remains uncertain.
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Tesla reported a 6% increase in vehicle deliveries for Q3 2024, reaching 463,000 units. This rebound follows a challenging first half of the year and is attributed to lower financing rates and competitive pricing. However, the company faces stiff competition and market challenges, particularly in Europe and China.
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Tesla has removed its Standard Range Rear-Wheel Drive Model 3 from its website, raising the entry price for its vehicles. This decision comes amid rising tariffs on Chinese EVs and a shift in focus towards the Long Range Model 3. Analysts view this as a strategic move in a competitive market.
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Google has signed a groundbreaking agreement with Kairos Power to deploy small modular nuclear reactors (SMRs) to meet the rising energy demands of AI technologies. The first reactor is expected to be operational by 2030, contributing 500 megawatts of carbon-free power to U.S. electricity grids by 2035.