According to foreign media reports, Nissan Motor announced that due to its consolidated net revenue and global sales decline in the first half of fiscal year 2024, and operating margin of only 0.5%, the company plans to “take urgent measures” to reverse the business model. Nissan said it is “facing a tough situation” and has developed a plan to achieve “healthy growth,” including cutting fixed costs by 300 billion yen ($1.9 billion) and variable costs by 100 billion yen ($649 million), as well as reducing the number of employees in the company. ($649 million) in variable costs, while […]
Toyota Motor Corp.’s chief operating officer for North America, Jack Hollis, criticized U.S. policies that are driving the rapid adoption of electric vehicles, calling them “de facto mandates” that are out of sync with consumer demand, Bloomberg reports. Hollis noted that government support for electric vehicles has been a hot topic during the U.S. presidential election process, but argued that sales of pure electric vehicles should grow organically, not by limiting sales of gasoline-powered vehicles. “The whole EV ecosystem is ahead of the consumer and not aligned with consumer demand.” Bloomberg said Hollis was referring to the U.S. […]
According to Bloomberg, the slowdown in the popularity of electric cars in the United States may be further exacerbated by the fact that the next President of the United States, Donald Trump, has promised to repeal the electric vehicle tax credit. GlobalData, an automotive forecaster, has lowered its estimate of U.S. EV market share in 2030 from 33 percent to 28 percent. Jeff Schuster, GlobalData’s vice president of automotive research, said in a report, “The U.S. transition to electric vehicles will be hampered under the Trump administration.” He said Trump’s focus on lowering gas prices and relaxing tailpipe […]
Jack Hollis, chief operating officer of Toyota Motor North America, recently publicly criticized the US government’s policies to promote the popularization of electric vehicles (EVs), saying that these policies are actually “mandatory requirements” and pointed out that they have failed to keep pace with consumer demand and market reality. In an interview with the media, Hollis said that although electric vehicles have obvious advantages in environmental protection and energy efficiency, the US government’s policy efforts to promote the rapid popularization of electric vehicles are too strong, which may have a negative impact on the healthy development of the automobile market. Hollis specifically mentioned that the current policy setting focuses […]
New car registrations in the UK fell 6% year-on-year to 144,288 in October this year, the second decline this year, according to the Society of Motor Manufacturers and Traders (SMMT), Reuters reported recently.The SMMT said registrations for all power types, except for purely electric vehicles, fell in the month. This October, a number of new pure electric models drove the strongest growth so far this year, with pure electric car sales achieving a record increase of 24.5% and taking a 20.7% share of the car market for the month. So far this […]
On November 7, Faraday Future (FF), a global shared smart electric mobility ecosystem company, announced its financial results for the third quarter of 2024. Among the results, operating expenses fell 92.6% year-over-year to $3.8 million; operating loss decreased to $25.2 million from $66.4 million in the same period last year. FF said it continued to achieve significant results in controlling costs and reducing operating expenses. As of September 30, 2024, FF had assets of $449 million and liabilities of $292.3 million, with a book value of $156.7 million. FF considers the […]