|
General Motors appears to be gaining on Tesla in the U.S. electric vehicle market, as the company increased its share to 12% in 2024. GM has been willing to take heavy losses to grow its EV business but will face a critical test in 2025 to see whether it can maintain its growth in the face of a more antagonistic federal administration, Reuters reported.
GM, which is the second largest EV seller in the U.S., says it is getting closer to making a profit on its EV business but will need to continue its growth for its bets to pay off. Meanwhile, a decline in Tesla’s EV sales has driven a massive drop in the company’s stock price, erasing the bump the company experienced following Donald Trump’s election.
In California, transportation officials warned lawmakers that declining gas tax revenue could create issues for infrastructure funding. The issue could cause the state to look for alternate funding sources. Several other states have implemented fees on new EVs to recoup lost gas tax revenue.
Across the country in Massachusetts, a pair of new charging initiatives are intended to lower barriers for rideshare operators, taxi drivers and fleet owners to adopt EVs. The programs will focus on mobile charging stations, financial support for fleet operators and support for municipalities to deploy fast chargers.
In labor news, workers in Kentucky are attempting to unionize a new EV battery plant partially owned by Ford. Their effort may be jeopardized by efforts by the Trump administration to repeal Biden-era labor protections, along with attacks on Inflation Reduction Act tax incentives relied on by the plant.
In shipping news, a pair of insurance companies called on lawmakers in the U.K. to help lay the groundwork for nuclear shipping technology. The companies said that “commercial insurability is going to be vital for this to happen in the civil maritime space,” and asked policymakers for a “sensible liability framework” to help spur the long-term development of the technology.
All that and more in this week’s Intelligence Report:
|
Share
Tweet
Share
Forward