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Copper futures hit a record high on Wednesday as demand for the base metal stays strong amid a rush to build data centers and the continued electrification of the global economy.
NEW YORK/WASHINGTON -- The Biden administration on Tuesday announced a major increase in tariffs on Chinese electric vehicles and solar panels to prevent cheap products from "flooding" the U.S. market.
Electric vehicle sales have risen sharply this year, led by growth in China and a strong demand for hybrid vehicles in particular, according to a report from Counterpoint Research.
Tesla has a lot going on. A significant slump in sales, stoking concerns among investors and industry analysts, in an EV market where aggressive price cuts have been needed to spur demand, have tied into decisions made by Elon Musk's company to lay off workers and scale back spending on its EV Supercharger network. Tesla's stock price has declined by over 30% this year.
The Biden administration reportedly will slap a 100% tariff on Chinese electric vehicle (EV) imports, except that no Chinese cars presently are offered for sale in the United States.
While Tesla lays off more than 10% of its workforce, South Korea’s Hyundai Motor Group plans to hire 80,000 new employees, increasing its headcount by about 30% over the next three years.
Once-hot electric vehicle startups — years ago fueled by low interest rates, free cash and Wall Street bullishness — are now scrambling to prove they can survive in tougher market conditions. That is if they haven't gone bankrupt already.
NEW YORK -- Shares in EV maker Zeekr Intelligent Technology jumped over 34% on Friday in the biggest Chinese stock debut on a U.S. exchange in nearly three years.