China’s car shipments to foreign markets have quintupled in the past four years. Its solar panels dominate global markets. Even exports in labor-intensive industries like furniture making, which China was once expected to lose to lower-wage countries, are surging. American and European leaders have become increasingly vocal that a flood of Chinese exports is swamping […]
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At first glance, Xi Jinping seems to have lost the plot. China’s president appears to be smothering the entrepreneurial dynamism that allowed his country to crawl out of poverty and become the factory of the world. He has brushed aside Deng Xiaoping’s maxim “To get rich is glorious” in favor of centralized planning and Communist-sounding […]
Read More At first glance, Xi Jinping seems to have lost the plot. China’s president appears to be smothering the entrepreneurial dynamism that allowed his country to crawl out of poverty and become the factory of the world. He has brushed aside Deng Xiaoping’s maxim “To get rich is glorious” in favor of centralized planning and Communist-sounding […]
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Facing criticism that it is overly beholden to Elon Musk, Tesla’s board of directors said on Wednesday that it would essentially give him everything he wanted, including the biggest pay package in corporate history. If setbacks in court and the car market have induced any soul searching among Tesla’s board, there was no sign of […]
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Tesla tries again on Musk’s record pay package Nearly three months ago, a Delaware court voided Elon Musk’s multibillion-dollar pay package that Tesla’s board — and most shareholders — had given him in 2018, contending that the process to decide it was “deeply flawed” and that the company didn’t properly disclose it to investors. On […]
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Tesla is in a bad spot. The world’s largest electric carmaker on Monday told employees it would lay off more than 10 percent of its work force, and two senior executives said they were leaving. Earlier this month Tesla announced a stunning drop in sales, delivering 387,000 cars worldwide in the first quarter, down 8.5 […]
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Chancellor Olaf Scholz of Germany tried to strike a delicate balance on a trip to China this week, promoting business ties with his country’s biggest trading partner while criticizing its surge of exports to Europe and its support for Russia. Mr. Scholz met with China’s top leader, Xi Jinping, at the Diaoyutai State Guesthouse in […]
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As sales of Teslas drop and demand for electric vehicles cools — even as more models enter the market — an increasing number of automakers are competing for a slice of a shrinking pie. Nearly 269,000 electric vehicles were sold in the United States in the first three months of this year, according to Kelley […]
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Tesla plans to lay off more than 10 percent of its work force in an effort to cut costs, Elon Musk, the automaker’s chief executive, told employees on Monday. The job cuts, amounting to about 14,000 people, come as the company faces increasing competition and declining sales. “As we prepare the company for the next […]
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Endorsing an antisemitic post on X. Withholding Starlink satellite internet service from Ukraine to prevent a drone attack on Russian forces. Reposting conspiracy theorists who claim that the Biden administration’s immigration policies are part of a plot to increase the number of people who vote Democrat. Elon Musk’s behavior and public statements have clearly offended […]
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Zwickau, a city in Germany’s east, may not be as famous as Detroit, but its economy has revolved around internal combustion engines since August Horch established Audi here at the beginning of the 20th century. So when Volkswagen announced in 2018 that it would convert its Zwickau factory, the largest private employer in the area, […]
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Fact-checking by Susan Lee. The Daily is made by Rachel Quester, Lynsea Garrison, Clare Toeniskoetter, Paige Cowett, Michael Simon Johnson, Brad Fisher, Chris Wood, Jessica Cheung, Stella Tan, Alexandra Leigh Young, Lisa Chow, Eric Krupke, Marc Georges, Luke Vander Ploeg, M.J. Davis Lin, Dan Powell, Sydney Harper, Mike Benoist, Liz O. Baylen, Asthaa Chaturvedi, Rachelle […]
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We’re at an inflection point in electric-car optimism. Over the past few years, as electric vehicle sales increased substantially and car companies announced an onslaught of new battery-powered models, it seemed that electric cars were a near-term inevitability. But for all the heady promise, E.V. enthusiasm seems to be cooling. Ford recently announced that it’s […]
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After three hours of meetings on Friday, Treasury Secretary Janet L. Yellen and Vice Premier He Lifeng of China sat down for a working dinner at the White Swan Hotel in Guangzhou, China. They planned to follow that with a scenic boat cruise along the city’s Pearl River. The evening activity was intended to give […]
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Ford Motor on Thursday delayed the production of at least two new electric cars and said it would pivot to making more hybrids. Its decision was the latest sign that large automakers have been forced to rethink their strategy for electric vehicles because sales for those models are slowing. The shift by Ford and other […]
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Tesla, which has been accustomed to brisk growth, reported a drop in car sales during the first three months of the year as models from other automakers appeared to gain ground. The company led by Elon Musk said it delivered 387,000 cars worldwide in the first quarter, down 8.5 percent from 423,000 vehicles in the […]
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Filing your tax return serves as an annual reminder of just how tediously complex the American tax code is — and this year is no exception. It’s not as messy as the pandemic years, but there are plenty of new provisions taking effect, and some changes could potentially land midseason. Procrastination may cost you: Interest […]
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