Electric Cars News

General Motors Co has lost nearly $5 billion since 2018 trying to build a robotaxi business in San Francisco, and now as the automaker's Cruise unit starts charging for rides, the losses are accelerating.

The incentives, or premiums, paid to buyers of electric cars will expire completely once an allocated sum of 3.4 billion euros ($3.44 billion) from the next two years' budget is spent, according to government sources.

The funding will allow May Mobility to continue work with Toyota Motor Corp on self-driving people movers, May Mobility said in a statement. May said it is aiming to take human drivers out of vehicles in commercial operation by next year.

Tesla Inc faces a series of hurdles ranging from production snags to rising inflation that may hit profits, Wall Street analysts said on Tuesday, as the electric-car maker reported a fall in deliveries for the first time in two years.

Tesla navigated supply-chain challenges better than rivals early in the pandemic, and Deutsche Bank analyst Emmanuel Rosner said high prices and cost-cutting could help Tesla pleasantly surprise investors.

In a new update, Volvo Cars designers have given the XC40 line-up a refresh to reinforce its cutting-edge design and modern statement, which is also the version that has arrived in India today.

The German automaker said it plans to deliver ID.4 SUVs produced in Tennessee as early as October and will ramp up production to 7,000 cars per month by the end of 2022.

Volvo’s electric SUV goes up against the likes of the Kia EV6 in the Indian market.