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Rivian’s stock price has lost 90 percent of its value since November 2021. (The Epoch Times)—Amazon-backed electric vehicle manufacturer Rivian will be laying off a part of its workforce amid “challenging” economic conditions, the company said on Wednesday, sending its share price into a nosedive. Rivian announced its Q4, 2023, and full-year results on Feb. 21, revealing that the company will be reducing its salaried workforce by roughly 10 percent. In an email to staff, CEO RJ Scaringe said that layoffs would be implemented on Thursday. “Our business is facing a challenging macroeconomic environment—including historically high interest rates and geopolitical...

Yet another electric vehicle (EV) company has fallen on hard times. California-based Rivian Automotive Inc. has had a tough week after announcing plans to cut 10 percent of its workforce and lower production targets amid a significant decline in demand for such vehicles. The news also sent its stock plummeting by 25 percent on Thursday, marking the worst day of trading in the company's history.“Our business is not immune to existing economic and geopolitical uncertainties, most notably the impact of historically high interest rates, which has negatively impacted demand,” Rivian CEO RJ Scaringe said on an earnings call on Wednesday....

Electric vehicle makers Rivian and Lucid both suffered plummeting share prices after disappointing fourth-quarter earnings reports revealed stagnant production numbers. CNBC reports that shares of electric vehicle makers Rivian and Lucid plunged on Thursday following disappointing fourth-quarter earnings reports released after markets closed on Wednesday. Rivian stock sank around 25 percent, while Lucid shares dropped nearly 17 percent. Both companies cited stagnant production numbers and “existing economic and geopolitical uncertainties” as factors impacting results. Rivian forecasts production of 57,000 vehicles in 2024 — about the same as the 57,232 vehicles manufactured in 2023. Meanwhile, Lucid predicts production of 9,000 vehicles...

NEW ENGLAND GRID NEEDS: New England’s grid operator warned that the region will need to invest nearly $1 billion in its electric transmission infrastructure per year through 2050 to avoid capacity shortfalls and handle the rising power demand—especially as wind and solar make up a rising share of its energy mix. Takeaways: The report modeled for several different demand scenarios through 2050. The low end of 51 GW could be achieved only if the region kept online some stored fuels like natural gas and oil—which is almost a certain impossibility, given the emissions reduction targets passed by several of the...

Maine’s Department of Education is reportedly urging school districts to stop using taxpayer-subsidized electric school buses that were purchased within the last year. The districts reported problems with the new buses, which were supplied by Canada-based Lion Electric Co., last fall ... The windshields on the buses would leak whenever it rained, as the glass didn’t appear to be securely in place. concerns about mixing electricity and water from the leaking windshields led them to stop driving some of the buses. The buses, which cost about $345,000 each, were also sold with misaligned or incorrect lettering on the sides, and...

BMW is introducing a trial fleet of the BMW iX5 hydrogen car throughout the world, including South Africa. The company views hydrogen cars as an addition to battery-electric vehicles (BEVs), not as a rivalry between the two technologies. The iX5 Hydrogen pilot fleet is not meant for commercial use, but the German automaker has begun testing hydrogen-powered cars in South Africa. The hydrogen car trial was revealed during the regional meeting of the Hydrogen Council in Sandton, Johannesburg. BMW has revealed that it will begin testing in collaboration with Anglo-American Platinum and Sasol. The Sasol BMW Fuel Cell Electric Vehicle,...

Rapid adoption of electric vehicles and low-carbon energy would dramatically improve children’s respiratory health in the United States, according to a new report released Wednesday by the American Lung Association. If the U.S. meets three targets — 100 percent zero-emission passenger vehicle sales by 2035, emission-free truck sales by 2040 and a fossil-fuel-free electric grid by 2035 — it could prevent 2.79 million total asthma attacks among children, 147,000 pediatric bronchitis cases and over 500 infant deaths by midcentury, the organization found. “Curbing pollution from transportation and energy production is key to cleaning our air and protecting our nation’s children,”...

A full-size van replacement and a Ford Maverick competitor—both of them EVs—have been canceled. * Sources tell us plug-in hybrid versions of the Chevrolet Silverado and GMC Sierra are headed to market, in a hurry. * General Motors had been fully committed to all-electric pickups, but problems towing and hauling heavy loads have made EV pickups less attractive to traditional truck buyers. * GM’s change in plans creates uncertainty for Detroit’s Factory Zero, which has been retooled solely for production of battery-electric vehicles such as the GMC Hummer (pictured above). ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ While zero-emissions enthusiasts wait for mass production of General...

The system, if introduced, would likely feature on the Charger Daytona, with EV muscle cars highlighted in the patent Performance EVs have proved to be quicker to 60 mph than the vast majority of the ICE alternatives, more refined by virtue of having fewer moving parts, and more pliable, offering instant power and torque. However, there’s one thing that even the most die-hard electric zealots will struggle to argue against: when it comes to emotion and character, an EV powertrain can’t harness the same characteristics that make a great ICE so unique. Or can they? If you’re an engineer at...

Michigan autoworkers are worried that President Joe Biden’s policies pushing for a transition to electric vehicles (EV) will cost their jobs, according to The New York Times. Some autoworkers represented by the United Auto Workers (UAW) union are not pleased with the president’s support of EVs due to the products needing less manpower to produce, which could eliminate tens of thousands of jobs not just in manufacturing, but also in supporting services like insurance and trucking, according to the NYT. Biden has made union support a key part of his campaign and presidential policy, but his push to have half...

President Joe Biden is reportedly preparing to ease its push to force electric vehicles onto American consumers as consumer demand for the vehicles remains low, dealerships have expressed serious concerns, and automakers have had to cut production and revamp production of gas vehicles. The New York Times reported that the move was a “concession to automakers and labor unions” from the administration as it was forcing “limits on tailpipe emissions” to force Americans to switch from gas-powered cars to more expensive electric vehicles — which often have performance issues in adverse weather conditions. The serious lack of charging stations, and...

If President Biden’s electric-vehicle mandate is as popular as progressives claim, why are they trying to censor critics who want to inform the public about the mandate’s costs? That’s the story this week, after the American Fuel & Petrochemical Manufacturers (AFPM) launched ads in Pennsylvania, Wisconsin, Michigan, Nevada, Arizona, Ohio and Montana to educate Americans about the Administration’s back-door EV mandate. Mr. Biden is “rushing to ban new gas-powered cars” and wants “to force you into an electric vehicle,” one ad says. The Biden team doth protest. “There is no EV mandate,” a Biden campaign official declared. No? The Environmental...

Leading global EV maker BYD’s electric pickup was recently spotted testing in Australia, suggesting the new model could be launching overseas soon. BYD’s new rugged electric pickup is rolling out soon BYD has been developing an electric truck for years now. Chinese auto media website CarNewsChina spotted test models at BYD’s facility back in November 2022. Last year, BYD’s electric pickup was spotted testing in China. Despite the camouflage, you could clearly see a charging port on the right, among other features suggesting it’s electric. A leaked patent in October gave us a better idea of what to expect. The...

hinese electric-vehicle giant BYD is thinking about building a car assembly plant in Mexico. That’s one way to crack the U.S. market. The possibility of a BYD plant in this region is a big deal and while Tesla, General Motors, and Ford Motor have time to prepare they should start getting ready right now. Wednesday, Nikkei Asia reported that BYD was considering building a car plant in Mexico. Ultimately, that would be the avenue for BYD cars to enter the North American market. BYD didn’t immediately respond to a request for comment about its expansion plans. “The company’s spokesperson did...

A new electric supercar will hit the market next week. BYD will officially launch its new Yangwang U9 electric supercar on February 25. The new EV supercar can sprint from 0 to 60 mph in 2 seconds. BYD Yangwang U9 electric supercar launching Feb 25 BYD launched its Yangwang ultra-luxury brand last January, debuting the off-road U8 SUV and U9 electric supercar. The brand’s first vehicle, the Yangwang U8, began deliveries last December, with prices starting at $150,000 (1,089,000 RMB). By January, BYD said it had delivered around 1,600 models in China. BYD’s Yangwang U8 luxury off-roader is designed for...

A green nonprofit that is indirectly funded by a foreign billionaire is pressuring broadcasters to drop advertisements that criticize the Biden administration’s massive electric vehicle (EV) agenda. Climate Power wrote to numerous broadcasters this week demanding that they stop airing American Fuel and Petrochemicals Manufacturers (AFPM)-funded advertisements in swing state markets that rail against President Joe Biden’s plans to impose widespread EV adoption in the coming years. The charitable organization affiliated with Hansjorg Wyss, a Swiss health care mogul and billionaire philanthropist, donates millions of dollars to the Fund for a Better Future, which was the fiscal sponsor for Climate...

Burn on, Bidenomics! The Biden administration is reportedly considering easing tailpipe emissions regulations, a move that was designed to force Americans from gas and diesel-powered vehicles to electric vehicles, according to The New York Times, citing three people familiar with the plan. This potential policy adjustment is in response to concerns from major automakers and labor unions and comes amid sliding EV demand, recently prompting companies such as Ford Motor Company to reduce EV production and lay off workers. “Instead of essentially requiring automakers to rapidly ramp up sales of electric vehicles over the next few years, the administration would...

Sacramento, capital city of the EV-loving Golden State, is the latest city proposing to ban new gas stations or upgrading existing stations, unless of course you’re adding electric vehicle charging. The government recently issued a 2040 Sacramento General Plan, first reported by OPIS, which calls for “future-ready” gas stations. The plan states that the “city shall prohibit the establishment of new gas stations or the expansion of new fossil fuel infrastructure at existing gas stations unless the project proponent provides 50kW or greater direct current fast charger (DCFC) electric-vehicle charging stations on site at a ratio of at least one...

Led by an elderly man experiencing cognitive decline, the Biden administration has launched a strident effort to promote electric vehicle (E.V.) sales. This push is part of a globalist climate change agenda that ignores the unreliability of renewable energy during winter storms and heat waves.

YouTube Transcript... We've all seen EVS on fire a result of the lithium ion battery which provides the power to the car experiencing a condition known as thermal runaway. This is when one of the individual cells in the battery is either damaged by an impact or just degrades over time to the point where it causes a short circuit. This generates heat in the cell which causes an outcof control chemical reaction to become self- sustaining very quickly the heat spreads to the cells nearby heating them to the point where they also go out of control in a...