Author: Associated Press
DETROIT — Tesla’s second-quarter net income fell 45% compared with a yr ago as the corporate’s global electric vehicle sales tumbled despite price cuts and low-interest financing. The Austin, Texas, company said Tuesday that it made $1.48 billion from April through June, lower than the $2.7 billion it made in the identical period of 2023. It was Tesla’s second-straight quarterly net income decline. Second quarter revenue rose 2% to $25.5 billion, beating Wall Street estimates of $24.54 billion, in line with FactSet. Excluding one time items, Tesla made 52 cents per share, below analyst expectations of 61 cents. Earlier this…
BELGRADE, Serbia — German Chancellor Olaf Scholz praised a tentative deal between Serbia and the European Union signed on Friday that paves the way in which for the disputed excavation of lithium, a mega project that would reduce Europe’s dependency on China but one which has been fiercely criticized by environmentalists and opposition groups. Scholz attended a “critical raw materials summit” within the Serbian capital where a memorandum of understanding between the EU and Serbia’s government on a “strategic partnership” on sustainable raw materials, battery supply chains and electric vehicles was signed. He said after the signing ceremony that “that…
Dozens of aging bridges in 16 states might be replaced or improved with the assistance of $5 billion in federal grants announced Wednesday by President Joe Biden’s administration, the newest beneficiaries of a large infrastructure law. The projects range from coast to coast, with the biggest providing a further $1.4 billion to assist replace two vertical lift bridges over the Columbia River that carry Interstate 5 traffic between Portland, Oregon, and Vancouver, Washington. The bridges, which also received $600 million in December, are “the worst trucking bottleneck” within the region, Transportation Secretary Pete Buttigieg said. Other projects receiving $500 million…
NEW YORK — Kia America is recalling nearly 463,000 Telluride SUVs — and urging owners to park their cars outside and away from other structures until a problem posing a hearth hazard is fixed. The front power seat motor on the affected Tellurides from the 2020-2024 model years may overheat due to a stuck slide knob, in accordance with the National Highway Traffic Safety Administration. That might potentially end in a hearth while the automotive is parked or being driven. Kia made the choice to recall the vehicles on May 29, NHTSA documents published Friday show, after receiving reports of…
INDIANAPOLIS — Josef Newgarden put his cheating scandal behind him to change into the primary back-to-back winner of the Indianapolis 500 since Helio Castroneves 22 years ago and provides Roger Penske a record-extending twentieth win in “The Best Spectacle in Racing.” The Tennessean passed Pato O’Ward on the ultimate lap of Sunday’s rain-delayed race to change into the primary driver to win consecutive 500s since Castroneves did it for Penske in 2001 and 2002. And similar to last yr, Newgarden stopped his Chevrolet-powered automotive on the track and climbed through a hole within the fence to have fun with fans…
DETROIT — Within the not-too-distant future, automatic emergency braking can have to come back standard on all latest passenger vehicles in the US, a requirement that the federal government says will save lots of of lives and forestall 1000’s of injuries yearly. The National Highway Traffic Safety Administration unveiled the ultimate version of the brand new regulation on Monday and called it probably the most significant safety rule previously 20 years. It’s designed to forestall many rear-end and pedestrian collisions and reduce the roughly 40,000 traffic deaths that occur annually. “We’re living through a crisis in roadway deaths,” Transportation Secretary…
Marcos Ramirez of Spain and the OnlyFans American Racing Team leads the sphere throughout the Moto2 Race throughout the MotoGP Of The Americas last Sunday in Austin, Texas. (Getty Images) AUSTIN, Texas — A brand new American team with ties to the NASCAR stock automotive series, a brand new television deal in america, and upcoming American ownership. MotoGP, global motorcycle racing’s version of Formula 1, looks primed for a bid to repeat F1’s explosive growth lately and produce a brand new group of fans — notably from the U.S. — to the thrills of two-wheeled speed. “It has what Americans really…
STONE MOUNTAIN, Ga. — In a big, empty car parking zone outside Atlanta, one automotive slowly careened around parking spaces. From the passenger seat, driving instructor Nancy Gobran peered over large sunglasses at her student, a 30-year-old Syrian refugee woman who was driving for considered one of the primary times in her life. “Turn the wheel after which speed up,” Gobran, the owner of Safety Driving School, said softly in Arabic. Gripping the wheel tightly, the coed cautiously rounded the corners of the car parking zone for nearly an hour. Gobran has been working for nearly five years with a…
BIG SUR, Calif. — Motorists crept along one lane of a scenic stretch of California’s iconic Highway 1 on Monday after an enormous chunk of it collapsed into the ocean following heavy weekend rains, stranding as many as 1,600 people within the coastal community of Big Sur. Convoys of vehicles resumed at 8 a.m. Monday for one lane of the highway, although the general public trapped in Big Sur were allowed to depart when a single lane was reopened Sunday after being closed overnight, said Kevin Drabinski, a spokesperson for the California Department of Transportation, or Caltrans. “Through the time…
LONDON, Ohio — Inside 24 hours of shopping for his red Ford Mustang Mach-E, Liam Sawyer set off on a camping trip. Sawyer, who bought the electrical SUV “because I feel the technology is cool and the range is just long enough,” searched ahead of time for convenient charging stations between his home in Indianapolis and Allegheny National Forest in western Pennsylvania. About 175 miles (282 kilometers) into his journey, he stopped at a brand new public charging station on the Pilot Travel Center along Interstate 70 outside Columbus, Ohio. The station, which opened in London, Ohio, in December with…
