Business, Fuel

Lucid Surges on $1 Billion Lifeline From Saudi Investor

Lucid Group is getting a $1 billion cash injection from its biggest investor, an affiliate of Saudi Arabia’s Public Investment Fund, providing the troubled EV maker with a needed lifeline.

March 25, 2024
Business, Technology, Equipment

Nikola Hires GM Veteran Steve Girsky as CEO

Nikola Corp. is tapping a former General Motors Co. vice chairman to serve as its CEO, replacing the current CEO after less than a year of running the electric truck maker.

August 4, 2023
Business, Technology

Rivian Cuts 6% of Workforce, Spares Blue Collar Workers

Rivian Automotive Inc. is reducing its headcount by 6%, but sparing assembly line workers at its sole operational plant in Normal, Ill., from the cutbacks.

February 1, 2023
Business, Technology, Logistics, Autonomous

Tesla Plans to Deliver Semis to Pepsi Five Years After Unveiling

Tesla Inc. will deliver its first Semi trucks to PepsiCo Inc. five years after Elon Musk showed off prototypes and began taking deposits for the electric big rigs.

October 7, 2022