A federal judge in Manhattan will sentence Trevor Milton, founder and former CEO of the truck company Nikola, after a jury found him guilty last year of one count of securities fraud and two counts of wire fraud. Milton was accused of pumping up the value of Nikola stock by making extravagant claims about the company.
The 6.5 million drivers who ferried passengers and food around the world in the past quarter was a record, Uber said. The company said improvements it had made to the driver experience -- such as showing drivers a passenger's destination and how much the driver would earn before accepting a ride -- had buoyed interest in working for Uber.
Unencumbered by an activist union, Tesla can take advantage of the work stoppages to add to its substantial lead in battery technology and software.
It was the second time the partners diverged recently on oil policy. Just two months earlier, Russia and Saudi Arabia, which together sell more than 20% of the oil used by the world, had agreed to cut production. But while Saudi Arabia followed through and sold less oil to other countries, Russia does not appear to have done so.
Despite billions in Western investment, China is so far ahead — mining rare minerals, training engineers and building huge factories — that the rest of the world may take decades to catch up.
The building measures pollution from the traffic zooming by. Levels of nitrogen oxides, byproducts of burning gasoline and diesel, have fallen sharply.
Mostly shunned from North America because of the US Inflation Reduction Act, which seeks to reduce American companies’ dependence on China’s supply chain, battery makers in China have instead focused on Europe, the world’s second-largest market for electric vehicles.
In an effort to make electric vehicles more affordable, last year’s Inflation Reduction Act included tax credits that give U.S. automakers like General Motors and Tesla an advantage over foreign competitors. A total of $135 billion in government funds will be directed to vehicle electrification and new factories.
Since January, the price of lithium has dropped by nearly 20%, according to Benchmark Minerals, even as sales of electric vehicles have soared.
The firm declined to name its client. But it has done work in the past for Advanced Micro Devices, Intel's longtime rival, which has raised similar concerns about whether federal funding should go to companies that plan to build empty shells. A spokesperson for AMD said it had not reviewed the email or approved the public relations firm's efforts to lobby for or against any specific company receiving funding.
Tesla has grown rapidly in China but is facing increasingly stiff competition from companies like BYD, which sells well-regarded cars at lower prices and is the country’s No. 1 electric vehicle brand. BYD sales including hybrid vehicles more than doubled in December from a year earlier, and rose 2% in December from November, according to the Passenger Car Association’s data.
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