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Elon Musk: Tesla price cuts are boosting demand

The controversial CEO, who bought Twitter late last year, said that production of the Cybertruck pickup will not significantly contribute to the automaker's numbers this year. The original launch was promised for late 2021. "We do expect…

Tesla Q4 earnings: Net income surges 59% to $3.7B

The EV leader’s financial results beat analysts’ expectations for revenue even as its margin per vehicle slipped. Analysts are watching gross margin at the automaker given this month’s price cuts of up to 20 percent of some models and…

Honda to create division to speed up EV development

TOKYO -- Honda will create a new division in a bid to strengthen and speed up its electrification business as part of an overhaul of its organizational structure. The shake-up is part of the automaker's bid to catch up in the fast-growing…

Ford to cut jobs as it restructures in Europe

Ford will cut more than 1,000 jobs in Germany as it switches its business in the region to selling only electric cars. The automaker plans to reduce the workforce at its European headquarters and factory in Cologne, Germany, by a…

GM to invest $918 million at 4 plants

DETROIT — General Motors on Friday said it will invest $918 million at four manufacturing plants in Michigan, Ohio and New York for production of V-8 engines and electric vehicle parts. The majority of the investment is related to GM's…