Canada considering tariffs on Chinese-made EVs | Business and Economy News

Canada considering tariffs on Chinese-made EVs | Business and Economy News

Canada said the domestic car sector faced unfair competition from China’s ‘state-directed’ global oversupply of EVs. Canada is considering whether to impose import tariffs on Chinese-made electric vehicles and will seek the public’s opinion about the idea, Deputy Prime Minister Chrystia Freeland has said. On Monday, Freeland said the domestic…

Who benefits from US tariffs on Chinese imports? Experts weigh in | US Election 2024 News

Who benefits from US tariffs on Chinese imports? Experts weigh in | US Election 2024 News

The trade war between the United States and China continued this week with its latest salvo – a move that comes amid a heated race for the White House. On Tuesday, US President Joe Biden announced tariff hikes on imports of various Chinese goods, worth $18bn. Lithium-ion batteries make up…

When will EVs become mainstream in the US? | Automotive Industry

When will EVs become mainstream in the US? | Automotive Industry

Robert Blake, a tribal citizen of Red Lake Nation in Minnesota, watched for years as fossil fuel companies built pipelines through his homelands. “How can we continue to resist the fossil fuel infrastructure?” thought Blake, executive director of Native Sun Community Power Development. “That’s when we noticed this grant opportunity…

Japan’s Toyota posts record profit as bet on hybrids pays dividends | Automotive Industry

Japan’s Toyota posts record profit as bet on hybrids pays dividends | Automotive Industry

Japanese car giant says net profit reached 4.94 trillion yen ($31.9bn) in the year to March. Toyota has reported record profit and sales figures on the back of the weak yen and strong demand for hybrid vehicles. The Japanese car giant said on Wednesday that it netted a record profit…

Elon Musk meets China’s No 2 official in Beijing | Technology

Elon Musk meets China’s No 2 official in Beijing | Technology

Telsa CEO’s unannounced visits comes as Chinese carmakers are promoting rival models at the Beijing Motor Show. Tesla CEO Elon Musk has met with China’s No 2 official on an unannounced visit to Beijing. Musk’s meeting with Chinese Premier Li Qiang comes as Chinese carmakers are promoting their latest electric…

Tesla asks shareholders to restore Elon Musk’s $56bn pay deal | Automotive Industry

Tesla asks shareholders to restore Elon Musk’s $56bn pay deal | Automotive Industry

Tesla Chair Robyn Denholm says company believes in ‘big risks for the chance of big rewards’. Tesla has asked shareholders to reapprove a record-breaking $56bn pay package for CEO Elon Musk after a US judge rejected the deal. In a filing with the Securities and Exchange Commission on Wednesday, Tesla…

Tesla to lay off more than 10 percent of staff worldwide amid falling sales | Automotive Industry News

Tesla to lay off more than 10 percent of staff worldwide amid falling sales | Automotive Industry News

CEO Elon Musk says in memo that job cuts will leave firm ‘lean, innovative and hungry for the next growth phase cycle’. Electric carmaker Tesla plans to lay off more than 10 percent of its global workforce, according to a memo sent to employees by CEO Elon Musk. Musk told…

Tesla settles lawsuit over fatal Autopilot crash for undisclosed amount | Automotive Industry

Tesla settles lawsuit over fatal Autopilot crash for undisclosed amount | Automotive Industry

The settlement avoids a jury trial months ahead of Tesla’s scheduled release of a self-driving taxi. Electric carmaker Tesla has settled a lawsuit brought by the family of an Apple engineer who was killed when his Model X swerved off a California highway while on autopilot. Tesla settled with the…

As corporate America pivots to AI, consumers rejected for loans, jobs | Technology

As corporate America pivots to AI, consumers rejected for loans, jobs | Technology

New York City – Rachel S lives in a walkable neighbourhood in Brooklyn, New York. Most days she is able to live comfortably without a car. She works remotely often but occasionally she needs to go into the office. That’s where her situation gets a bit challenging. Her workspace is…

Carmakers at risk of using Uighur forced labour in China, HRW says | Automotive Industry

Carmakers at risk of using Uighur forced labour in China, HRW says | Automotive Industry

Taipei, Taiwan – Top carmakers, including General Motors, Toyota, Volkswagen, Tesla and BYD are at a high risk of using aluminium produced by forced labour in China’s Xinjiang province, a report by Human Rights Watch (HRW) has found. China is the world’s largest car manufacturer as well as the largest…