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The automaker reduced the price of the Mustang Mach-E by up to $5,900 after Tesla slashed prices of its cars by as much as 20 percent.
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Dealership are seeing sales and prices drop as consumers tighten their belts, putting financial pressure on companies, like Carvana, that grew fast in recent years.
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Akio Toyoda, who has been reluctant to embrace all-electric vehicles, will be succeeded as C.E.O. by a Lexus executive.
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The electric car company is facing intensifying competition, supply chain disruptions and concerns about the behavior of Elon Musk.
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Shares in the electric carmaker continued to rally after the company reported strong profits, even amid growing competition and economic pressures.
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As president of Volkswagen of America, he pushed the “Think Small” ad campaign that helped create a counterculture icon.
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Under questioning, Mr. Musk said he hadn’t discussed how much money investors would put in to help him take his car company private.
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The $3.6 billion investment, which also includes a new battery factory, presents a challenge to traditional truck makers that have been slow to sell electric vehicles.
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A global semiconductor shortage is easing, which could allow carmakers to lift production this year. But higher interest rates could keep sales low.
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A wave of lawsuits argue that Tesla’s self-driving software is dangerously overhyped. What can its blind spots teach us about the company’s erratic C.E.O.?
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The company’s production was limited by a global chip shortage, but it made big gains in the fastest-growing segment of the auto market.
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The network could help increase the low number of charging stations, encouraging more people to buy electric vehicles.
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The price reductions in the United States will make more of the company’s electric vehicles eligible for a federal tax credit.
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The revolution is also a case study in how much further we have to go.
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Aiming to make a million electric vehicles a year by 2025, General Motors is investing in a Nevada lithium mine to help with battery production.