Ford reported Thursday it earned $10.4 billion in net income last year, falling well below its own guidance and missing Wall Street’s expectations as the U.S. automaker struggled with supply chain issues and production instability that drove down sales and pushed operating costs higher. Shares fell as much as 8.3% in after-market trading, before recovering.…
Rivian, the buzzy EV automaker that had one of the biggest IPOs in 2021, is cutting 6% of its workforce for the second time in less than a year, according to an internal memo sent to employees today by founder and CEO RJ Scaringe. Reuters was the first to report about the cuts. TechCrunch has…
General Motors said Tuesday it will invest $650 million into Lithium Americas as part of an agreement to develop a mine in Nevada, the latest effort by the automaker to lock down a supply chain of key components needed to produce millions of EVs. The investment in raw materials for batteries is the biggest to…
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