plans

Tesla Price Cuts, Repair Costs Impact Profits, Hertz Delays EV Plans

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“The introduction of EVs will be slower than previously anticipated,” Hertz CEO Stephen Sher said during the company’s third-quarter earnings conference. at 5:05pm ET Last week, General Motors and Ford announced they would delay spending on electric vehicles, citing slowing demand for BEVs and the EV price war started by Tesla. Source: insideevs.com

Honda Cancels Plans With GM For Affordable Electric SUV

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Honda and General Motors will no longer jointly develop a series of affordable compact SUVs. Reported by Bloomberg. Honda cited the current business environment, rising project costs, and challenges in ensuring sufficient driving range. The joint plan has been canceled, but Honda says the two companies will “seek a solution individually.”