Tesla is focused on increasing capacity at four factories, and will save limited semiconductor supplies for current models.
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Tesla dominated the EV market and the overall luxury market last year, outselling BMW, Lexus and Mercedes for the U.S. luxe crown, according to Cox Automotive
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Tesla earnings rose in the fourth quarter as the world's most valuable automaker delivered a record number of vehicles despite supply chain headwinds. The EV maker posted net income of $2.3 billion.
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The automaker said it is expanding teams that electrify cars, develop vehicle software and autonomous technology and engineer fuel cells.
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Valeo said its outgoing CEO Jacques Aschenbroich, who became CEO in 2009, will continue to act as chairman of the board.
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While the accelerated production this year is a sign of progress, Rivian's success will depend on the company honing its manufacturing processes and navigating the supply-chain disruptions.
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Mazda began production of the 2023 CX-50 compact crossover at its joint-venture plant with Toyota in Alabama on Wednesday.
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President Joe Biden's administration is pushing to persuade Congress to approve funding to help boost microchip production in the U.S.
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Knight Automotive Group is among several Canadian dealership groups that have purchased dealerships in the U.S.
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GM and Ford are battling to lead the transition to electric vehicles.
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