Auto Industry and Electric Vehicle Mandates

Auto executives from Ford, GM, and Stellantis are urging President-elect Donald Trump to maintain President Joe Biden's Electric Vehicle (EV) mandates despite the lack of profitability and potential job losses. The automakers have heavily invested in EVs but are struggling to make a profit, and fear being undercut by competitors if the mandates are scrapped.

Cruise autonomous vehicle testing restart

Cruise, an autonomous vehicle company backed by General Motors, has restarted testing in Phoenix after a pedestrian-dragging incident in San Francisco. The incident led to layoffs, executive departures, and decreased spending by GM. Despite challenges, Cruise is determined to compete in the autonomous vehicle industry.

Senate candidate Bernie Moreno's decision to stop selling China-made GM vehicles

Republican Senate candidate Bernie Moreno stopped selling China-made GM vehicles after the automaker closed plants in the Rust Belt and expanded production overseas, despite receiving threats from GM executives. Opponent Sen. Sherrod Brown is using a misleading claim as a campaign pitch.

Hertz CEO Resigns After Electric Vehicle Bet Fails

The CEO of Hertz is resigning after a failed bet on electric vehicles, leading to significant financial losses for the company. Hertz had ordered a large number of EVs from Tesla, Polestar, and GM, but faced challenges with low demand, depreciation, and costly repairs. The company incurred a $245 million charge and its biggest quarterly loss since the pandemic. Hertz is now selling off its electric cars due to lack of demand and high repair costs, replacing them with gas-powered vehicles.