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The past week in the tech and auto sectors was nothing short of eventful. From Ford Motor Co. CEO’s prediction of a slowdown in EV adoption to Tesla Inc. posing a significant threat to Uber with its robotaxi, the industry was abuzz with news. Let’s dive into the top stories of the week.
Ford’s CEO Jim Farley predicted a decrease in EV adoption in the U.S., attributing it to policy changes and incentive rollbacks. Farley estimates that EVs will account for only about 5% of the U.S. market in the near term. However, he believes the demand for affordable EVs will grow in the future.
Wedbush Securities’ investor Dan Ives sees Tesla’s robotaxis as a major competitive threat to Uber Technologies Inc.’s business. Ives, a Tesla bull, believes the EV giant’s push into AI, autonomous, and robotics will be a golden chapter for the company.
See Also: GM CEO Mary Barra Says There’s Overcapacity In China’s EV Market Amid EV Price War
QuantumScape Corp. CEO Siva Sivaram believes the company’s partnership with Volkswagen AG will pave the way for the development of solid-state batteries for cars. These batteries, which use a solid electrolyte instead of a liquid-based solution, could offer better safety and faster charging speeds.
General Motors Company saw its shares rise sharply after reporting better-than-expected third-quarter financial results and raising its FY25 adjusted EPS outlook. The auto giant’s Q3 adjusted earnings per share of $2.80 beat the analyst consensus estimate of $2.31.
Tesla reported a 12% year-over-year increase in third-quarter revenue, beating Street consensus estimates. Despite the record EV deliveries, the company’s profits fell.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
