Cars

here’s-how-slate-auto-plans-to-handle-repairs-to-its-electric-trucks

Here’s how Slate Auto plans to handle repairs to its electric trucks

Earlier this year, Slate Auto emerged from stealth mode and stunned industry watchers with the Slate Truck, a compact electric pickup it plans to sell for less than $30,000. Achieving that price won’t be easy, but Slate really does look to be doing things differently from the rest of the industry—even Tesla. For example, the truck will be made from just 600 parts, with no paint or even an infotainment system, to keep costs down.

An unanswered question until now has been “where do I take it to be fixed if it breaks?” Today, we have an answer. Slate is partnering with RepairPal to use the latter’s network of more than 4,000 locations across the US.

“Slate’s OEM partnership with RepairPal’s nationwide network of service centers will give Slate customers peace of mind while empowering independent service shops to provide accessorization and service,” said Slate chief commercial officer Jeremy Snyder.

RepairPal locations will also be able to install the accessories that Slate plans to offer, like a kit to turn the bare-bones pickup truck into a crossover. And some but not all RepairPal sites will be able to work on the Slate’s high-voltage powertrain.

The startup had some other big news today. It has negotiated access for its customers to the Tesla Supercharger network, and since the truck has a NACS port, there will be no need for an adapter.

The Slate truck is due next year.

Here’s how Slate Auto plans to handle repairs to its electric trucks Read More »

porsche’s-2026-911-turbo-s-is-a-ballistic,-twin-turbo,-701-horsepower-monster

Porsche’s 2026 911 Turbo S is a ballistic, twin-turbo, 701-horsepower monster

Other upgrades

To handle the 61 hp (45.5 kW) of additional power over the outgoing car, the new Turbo S features 10 mm wider tires at the rear—sticky Pirelli P Zero Rs to be exact. Porsche also outfitted a new form of active suspension to the Turbo S, which uses one of the pumps from the Panamera’s trick new Active Ride suspension to drive actuators at each of the car’s four corners.

By raising or lowering pressure, the 911 Turbo S effectively varies the stiffness of its anti-rollbars, resulting in a cushier ride for daily driving and a more aggressive one in Sport or Sport Plus. The feeling of the Turbo S is never exactly plush—those low-profile tires aren’t ideal for that—but neither is it harsh. I felt quite comfortable cruising over the broken Malagan asphalt, making this an ideal daily driver.

I didn’t even mind the soft-top convertible in the Cabriolet, which raises and lowers quickly and, even at highway speed, doesn’t add much road noise to the equation. Still, if I were buying, I’d go coupe instead of Cabriolet, if only for the extra headroom and cleaner styling.

I won’t be buying, though, because I can’t afford one. The 2026 Porsche 911 Turbo S starts at $270,300 for the coupe or $284,300 for the soft-top Cabriolet, plus a $2,350 destination fee. That’s for a reasonably well-equipped car, including the new active suspension and carbon-ceramic brakes, but start digging into the options catalogue or ponder the expanded palette in Porsche’s Paint to Sample lines, and you’ll quickly find yourself on the painful side of $300,000. That’s a mighty amount of money for a 911, a whopping $40,000 MSRP increase over last year’s model, but given the wild level of engineering required to deliver this much power and responsiveness, it doesn’t feel completely out of line.

Porsche’s 2026 911 Turbo S is a ballistic, twin-turbo, 701-horsepower monster Read More »

f1-in-mexico-city:-we-have-a-new-championship-leader

F1 in Mexico City: We have a new championship leader

Doing so vaulted him past his teammate Oscar Piastri to regain the lead Norris held in the early part of the season, albeit by just a single point. But if that makes it sound like it was a boring race, think again.

Behind Norris, the chasing pack went into turn 1 four-wide. Both Ferraris were in the mix: Charles Leclerc qualified second, and his teammate Lewis Hamilton was third. Max Verstappen could qualify his Red Bull no higher than fifth, behind George Russell’s Mercedes. A number of drivers had to take to the grass at turn 1 to avoid crashing, giving Norris plenty of breathing room to build a lead.

Behind him, things were a little more interesting. Leclerc managed to keep second place, but with much less speed than Norris, a following pack formed behind him. By lap 7, Verstappen had managed to fight his way past Russell, then diced with Hamilton, his old foe from the 2021 title. Neither car was able to keep entirely to the track, and Hamilton was handed a 10-second penalty, putting an end to any thoughts of finally grabbing his first Ferrari podium finish. Eventually, he finished eighth.

The stadium section doesn’t have the best sequence of corners, but there are few places to get a good a view of the cars. Peter Fox/Getty Images

Norris, Leclerc, and Verstappen all stuck to a one-stop strategy, with the Red Bull driver starting on medium tires and then swapping to the softs; his rivals did the opposite. Verstappen was in a much stronger position in the final phase of the race, with newer, softer rubber than the Ferrari ahead. But although he closed the gap to fractions of a second, he was denied a chance to overtake Leclerc when a virtual safety car interrupted the race with just three laps to go.

With his third place, Verstappen is now 36 points behind championship leader Norris, with a total of 116 points left on offer for the season.

Fourth went to the Haas of Oliver Bearman, who saw a chance early on to get into the front-running pack but was unable to hold off Verstappen for the final podium spot toward the end of the race. As for Piastri, he was able to claw his way back to fifth after starting eighth. That earned him 10 points, so he only gave away five to Verstappen, although Norris now leads him by 357 points to 356.

The next race will be in Brazil on November 9.

F1 in Mexico City: We have a new championship leader Read More »

tesla’s-“mad-max”-mode-is-now-under-federal-scrutiny

Tesla’s “Mad Max” mode is now under federal scrutiny

Earlier this month, Tesla rolled out a new firmware update that added a pair of new driving modes for the controversial full self-driving (FSD) feature. One, called “Sloth,” relaxes acceleration and stays in its lane. The other, called “Mad Max,” does the opposite: It speeds and swerves through traffic to get you to your destination faster. And after multiple reports of FSD Teslas doing just that, the National Highway Traffic Safety Administration wants to know more.

In fact, “Mad Max” mode is not entirely new—Tesla beta-tested the same feature in Autopilot in 2018, before deciding not to roll it out in a production release after widespread outcry.

These days, the company is evidently feeling less constrained; despite having just lost a federal wrongful death lawsuit that will cost it hundreds of millions of dollars, it described the new mode as being able to drive “through traffic at an incredible pace, all while still being super smooth. It drives your car like a sports car. If you are running late, this is the mode for you.”

Tesla’s “Mad Max” mode is now under federal scrutiny Read More »

rivian-is-settling-$250-million-lawsuit-to-focus-on-next-year’s-r2-ev

Rivian is settling $250 million lawsuit to focus on next year’s R2 EV

Electric vehicle startup Rivian announced on Thursday that it has settled a lawsuit with some of its investors. The company continues to deny allegations of making “materially untrue” statements during its inial public offering but says it agreed to pay $250 million to clear itself of distractions as it focuses on building its next EV, the mass-market R2, which is due next year.

Rivian was first sued by a shareholder in 2022 over claims that the startup knew it would cost far more for it to build each R1T electric truck and R1S electric SUV than the advertised $67,500 and $70,000 prices, respectively. A big surprise price increase would tarnish the nascent automaker’s reputation, the lawsuit claimed, and could lead to many of the almost 56,000 pre-orders being canceled.

Just a few months after its November 2021 IPO, the company had indeed issued a hefty price hike: $79,500 for the R1T and $84,500 for the R1S SUV. After an outcry, the company said it would honor the original price for its existing preorders. By that point, though, the damage was done, and more than a third of the company’s value was erased within a few days, the lawsuit alleged.

Rivian is settling $250 million lawsuit to focus on next year’s R2 EV Read More »

great-hybrid-v6,-lousy-hmi:-three-days-with-a-ferrari-296-gtb

Great hybrid V6, lousy HMI: Three days with a Ferrari 296 GTB

The first time I drove this generation of mid-engined Ferrari, it was on a curated route on the company’s home turf. As the Po Valley gives way to the Apennines, you find plenty of narrow winding roads, steep gradients, and hairpin turns. It was an engaging few hours of driving, but it was too brief to properly assess some of the 296’s technology. I found the ride firm but comfortable on rough Italian tarmac and the hybrid system easy to operate, flicking into calm-and-quiet electric-only mode through the villages I encountered.

That was back in 2022 during the unveiling of Ferrari’s 499P race car. Last month, I met the 499P again as it visited the Circuit of the Americas in Austin, along with the rest of the World Endurance Championship. And that afforded another chance to get to know the 296, with three days rather than three hours to form an impression.

Head west from Austin and you’ll find twisty roads that wrap around the hills. It would have been easy to spend an entire day out there, but that seemed repetitive—I’d experienced the 296’s back road behavior already. Plus, there were things to do at the racetrack, although I’ll admit I took the long way there and back each day.

Driving among the AVs

For mixing it up in downtown traffic—among the dozens of all-white Waymo Jaguars and brightly wrapped Zoox Toyotas doing their autonomous driving thing—the Ferrari’s eDrive mode is perfectly sufficient. It uses the axial flux electric motor that lives between the 2.9 L V6 engine and the eight-speed dual-clutch transmission, but the donut-shaped motor’s 165 hp (123 kW) and, more importantly, 232 lb-ft (315 Nm) are all you need to move the 296’s roughly 3,300 lbs (1,500 kg) at city speeds. Visibility is good looking forward and is adequate otherwise, and the throttle mapping makes it easy to measure out just as much acceleration as you need.

Beyond the confines of the city center, you’ll want the contribution of the V6’s 654 hp (488 kW). There are three modes to choose from. Hybrid is best when the lithium-ion traction battery is charged, and the car’s brain will cut the V6 as and when necessary to save some fuel. If the 7.4 kWh battery is depleted, switching into Performance mode is a solution. This keeps the internal combustion engine fired and uses spare power to keep topping up the pack. It also sounds more raucous.

Great hybrid V6, lousy HMI: Three days with a Ferrari 296 GTB Read More »

porsche-does-u-turn-on-electric-vehicles,-will-focus-on-gas-engines

Porsche does U-turn on electric vehicles, will focus on gas engines

Porsche had bet on electrification in the wake of Volkswagen Group’s Dieselgate emissions cheating scandal but had been “too bullish,” said Metzler Research analyst Pal Skirta.

The sports-car maker’s challenges have been compounded by its struggles in China and the US, its two most important markets. In China, previously boasting strong growth and healthy profits, sales slumped by almost 40 percent between 2022 and 2024 as local rivals emerged.

In the US, new tariffs imposed by President Donald Trump will foreseeably apply to every unit sold. Unlike rivals, Porsche does not have a factory locally and imports all its vehicles from Europe.

The effects of the crisis are already being felt at Porsche’s factories. The company said earlier this year it would cut 3,900 jobs by 2029, the equivalent of 9 percent of its workforce, and it is in talks with unions about more cost savings.

Porsche will have to smooth out persistent EV product delays because of software problems, where Chinese newcomers have set the standard in recent times. In a recent interview with the Financial Times, Sajjad Khan, Porsche board member for IT and software, said the quality of its products and technologies would be better in 2026 and 2027. “We have to work hard to execute perfectly,” Khan said.

Leiters may be one of the few well-placed executives to lead Porsche, but one question he faces will be how to preserve the premium status of its vehicles. His former employer Ferrari has thrived on scarcity of its sought-after supercars, but analysts have long wondered how Porsche will square its high prices with a push to sell more cars.

The German group’s U-turn on combustion engines also raises questions over its aim to establish itself as a maker of premium EVs.

“That’s the risk of the strategy that they will focus again too much on combustion engine vehicles, and then we’ll lose the EV race in the long run,” said Skirta.

© 2025 The Financial Times Ltd. All rights reserved. Not to be redistributed, copied, or modified in any way.

Porsche does U-turn on electric vehicles, will focus on gas engines Read More »

jaguar-land-rover-looking-at-$2.5-billion-price-tag-from-crippling-cyberattack

Jaguar Land Rover looking at $2.5 billion price tag from crippling cyberattack

The CMC estimated in June that the financial impact of the attacks on the two retailers was between £270 million and £440 million.

The investigation into the JLR attack is being led by the National Crime Agency but few details have emerged on who was behind the incident. The CMC estimate did not include assumptions about whether JLR had paid a ransom or not.

Martin said companies tended to focus their resources on protecting themselves against data breaches since they have a legal obligation to protect customer data.

But cases like JLR underscore the increasing risks of attackers not just stealing data but destroying critical networks supporting a company’s operations, and the high costs associated with such attacks.

While state actors have not been behind recent attacks on M&S and other retailers, Martin warned that there was an increasing “geopolitical vulnerability” and risk that hostile nation states could attack UK businesses for non-financial reasons.

“It is now clear not just that criminal disruptive attacks are the worst problem in cybersecurity right now, but they’re a playbook to hostile nation states on how to attack us,” Martin said at a separate speech in London on Wednesday. “So cybersecurity has become economic security. And economic security is national security.”

Last week, the UK National Cyber Security Centre also warned that state actors continued to pose “a significant threat” to Britain and global cyber security, citing the risks posed by China, Russia, and others.

According to an annual review by NCSC, the UK had suffered 204 “nationally significant [cyber] incidents” in the 12 months to August 2025, compared with 89 in the same period a year earlier.

The term is used to describe the three most serious types of incidents as defined by UK law enforcement.

© 2025 The Financial Times Ltd. All rights reserved. Not to be redistributed, copied, or modified in any way.

Jaguar Land Rover looking at $2.5 billion price tag from crippling cyberattack Read More »

f1-in-texas:-well,-now-the-championship-is-exciting-again

F1 in Texas: Well, now the championship is exciting again

AUSTIN, TEXAS - OCTOBER 19: Charles Leclerc of Monaco driving the (16) Scuderia Ferrari SF-25 and Lando Norris of Great Britain driving the (4) McLaren MCL39 Mercedes battle for track position during the F1 Grand Prix of United States at Circuit of The Americas on October 19, 2025 in Austin, Texas. (Photo by Clive Mason/Getty Images)

Charles Leclerc and Lando Norris during one of their on-track battles. Credit: Clive Mason/Getty Images

On Sunday, like in the sprint, Verstappen was unchallenged into turn 1 and drove to the checkered flag without much drama. Norris probably had the speed to challenge him, but the Ferrari of Charles Leclerc, which started the race on soft tires rather than mediums, used his grip advantage to pass Norris at the first turn. Within about four laps Leclerc’s tires had already given their best, allowing Verstappen to eke out a small lead.

What followed was a wonderfully exciting battle between Norris and Leclerc for second place. The drivers were on different strategies: Leclerc would switch to a medium after his soft tire, Norris would do the opposite. It took Norris a while to pass Leclerc the first time, with the McLaren driver trying the same cutback move at a number of corners without success before eventually succeeding.

But Leclerc stopped first, and when Norris made his tire change he yet again had to overtake Leclerc. This time Norris was much braver on the brakes into turn 12 to complete the move. Once in clean air, Norris was matching Verstappen’s speed, but the gap was too much to close down.

Verstappen’s win brings him to within 40 points of Piastri, with Norris just 14 points behind his teammate. And remember, there’s 25 points for a win—another non-finish for Piastri would be a disaster now. Should Verstappen manage to overtake both, he will have overcome the greatest points deficit in F1 history to do so.

AUSTIN, TEXAS - OCTOBER 19: Charles Leclerc of Monaco driving the (16) Scuderia Ferrari SF-25 and Lewis Hamilton of Great Britain driving the (44) Scuderia Ferrari SF-25 battle for track position during the F1 Grand Prix of United States at Circuit of The Americas on October 19, 2025 in Austin, Texas. (Photo by Clive Mason/Getty Images)

After a miserable season, both Ferraris did well at COTA, finishing third and fourth. Credit: Clive Mason/Getty Images

History doesn’t repeat itself, but they do say it rhymes. And I’m hearing some of the same melodies as 2007, when dueling McLaren drivers took points off each other to allow Kimi Räikkönen and Ferrari to win the driver’s championship—and also 1986, when dueling Williams drivers lost to the McLaren of Alain Prost. If 2025 becomes Verstappen’s fifth world championship, it should go down as his most accomplished.

And there’s not long to wait: The next round takes place next weekend in Mexico City.

F1 in Texas: Well, now the championship is exciting again Read More »

apple-pays-$750-million-for-us-formula-1-streaming-coverage

Apple pays $750 million for US Formula 1 streaming coverage

The United States Grand Prix takes place this weekend at the Circuit of the Americas in Texas, and this morning, Formula 1 used the occasion to announce a new broadcast deal for the sport in the US. Starting next year, F1 will no longer be broadcast on ESPN—it’s moving to Apple TV in a five-year, $750 million deal.

Apple boss Tim Cook has been seen at F1 races in the past, and earlier this year, Apple released F1: The Movie, starring Brad Pitt as a 50-something racing driver who improbably gets a second bite at the cherry 30 years after a brutal crash seemingly ended his F1 career.

But securing the rights to the sport itself means Apple has snagged a very fast-growing series, with races almost every other week—currently, the sport has expanded to 24 races a year.

“We are no strangers to each other, having spent the past three years working together to create F1: The Movie, which has already proven to be a huge hit around the world. We have a shared vision to bring this amazing sport to our fans in the US and entice new fans through live broadcasts, engaging content, and a year-round approach to keep them hooked,” said Stefano Domenicali, F1 president and CEO.

Apple says Apple TV subscribers will be able to watch every practice and qualifying session, as well as all the sprint races and grands prix. And “select races and all practice sessions will also be available for free in the Apple TV app throughout the course of the season,” the company said.

Apple pays $750 million for US Formula 1 streaming coverage Read More »

3-years,-4-championships,-but-0-le-mans-wins:-assessing-the-porsche-963

3 years, 4 championships, but 0 Le Mans wins: Assessing the Porsche 963


Riding high in IMSA but pulling out of WEC paints a complicated picture for the factory team.

Three race cars on track at Road Atlanta

Porsche didn’t win this year’s Petit Le Mans, but the #6 Porsche Penske 963 won championships for the team, the manufacturer, and the drivers. Credit: Hoch Zwei/Porsche

Porsche didn’t win this year’s Petit Le Mans, but the #6 Porsche Penske 963 won championships for the team, the manufacturer, and the drivers. Credit: Hoch Zwei/Porsche

The car world has long had a thing about numbers. Engine outputs. Top speeds. Zero-to-60 times. Displacement. But the numbers go beyond bench racing specs. Some cars have numbers for names, and few more memorably than Porsche. Its most famous model shares its appellation with the emergency services here in North America; although the car should accurately be “nine-11,” you call it “nine-one-one.”

Some numbers are less well-known, but perhaps more special to Porsche’s fans, especially those who like racing. 908. 917. 956. 962. 919. But how about 963?

That’s Porsche’s current sports prototype, a 670-hp (500 kW) hybrid that for the last three years has battled against rivals in what is starting to look like, if not a golden era for endurance racing, then at least a very purple patch. And the 963 has done well, racing here in IMSA’s WeatherTech Sportscar Championship and around the globe in the FIA World Endurance Championship.

In just three years since its competition debut at the Rolex 24 at Daytona in 2023, it has won 15 of the 49 races it has entered—most recently the WEC Lone Star Le Mans in Texas last month—and earned series championships in WEC (2023, 2024) and IMSA (2024, 2025), sealing the last of those this past weekend at the Petit Le Mans at Road Atlanta, a 10-hour race that caps IMSA’s season.

A porsche 963 on track, seen from above

49 races, 15 wins. But not Le Mans… Credit: Hoch Zwei/Porsche

But the IMSA championships—for the drivers, the teams, and the Michelin Endurance cup, as well as the manufacturers’ title in GTP—came just days after Porsche announced that its factory team would not enter WEC’s Hypercar category next year, halving the OEM’s prototype race program. And despite all those race wins, victory has eluded the 963 at Le Mans, which has seen a three-year shut-out by Ferrari’s 499P.

Missing the big win?

Porsche pulling out of WEC doesn’t rule out a 963 win at Le Mans next year, as the championship-winning 963 has gotten an invite to the race, and there is still a privateer 963 in the series. But the failure to win the big race has had me wondering whether that keeps the 963 from joining the pantheon of Porsche’s greatest racing cars and whether it needs a Le Mans win to cement its reputation. So I asked Urs Kuratle, director of factory motorsport LMDh at Porsche.

“Le Mans is one of the biggest car races in the world, independent from Porsche and the brands and the names and everything. So not winning this one is a—“bitter pill” is the wrong term, but obviously we would have loved to win this race. But we did not with the 963. We did with previous projects in LMP1h, but not with the 963,” Kuratle told me.

“But still, the 963 program is… a highly successful program because you named it—in the last year, we did not win one win in the championship, we won all of them. Because there’s several—the drivers’, manufacturers’, endurance, all these things—there’s many, many, many championships that the car won and also races. So the answer, basically, is it is a successful program. Not winning Le Mans with Porsche and Penske as well… I’m looking for the right term… it’s a pity,” Kuratle told me.

The #7 Porsche Penske won the Michelin Endurance Cup this year. Credit: Hoch Zwei/Porsche

Was LMDh the right move?

During the heady days of LMP1h, a complicated rulebook sought to create an equivalence of technology between wildly disparate approaches to hybrid race cars that included diesels, mechanical flywheels, and supercapacitors, as well as the more usual gasoline engines and lithium-ion batteries. The cars were technological marvels; unfettered, Porsche’s 919 was almost as fast as an F1 car—and almost as expensive.

These days, costs are more firmly under control, and equivalence of technology has given way to balance of performance to level the playing field. It’s a controversial topic. IMSA and the ACO, which writes the WEC and Le Mans rules, have different approaches to BoP, and the latter has had a perhaps more complicated—or more political—job as it combines cars built to two different rulebooks.

Some, like Ferrari, Peugeot, Toyota, and Aston Martin, build their entire car themselves to the Le Mans Hypercar (LMH) rules, which were written by the organizers of Le Mans and WEC. Others, like Porsche, Acura, Alpine, BMW, Cadillac, and Lamborghini, chose the Le Mans Daytona h (LMDh) rules, written in the US by IMSA. LMDh cars have to start off with one of four approved chassis or spines and must also use the same Bosch hybrid motor and electronics, the same Xtrac transmission, and the same WAE battery, with the rest being provided by the OEM.

Even before the introduction of LMH and LMDh, I wondered whether the LMDh cars would really be given a fair shake at the most important endurance race of the year, considering the organizers of that race wrote an alternative set of technical regulations. In 2025, a Porsche nearly did win, so I’m not sure there is any inherent bias or “not invented here” syndrome, but I asked Kuratle if, in hindsight, Porsche might have gone the “do it all yourself’ route of LMH, as Ferrari did.

“If you would have the chance starting on a white piece of paper again, knowing what you know now, you obviously would do many things different. That, I believe, is the nature of a competitive environment we are in,” he told me.

“We have many things not under our control, which is not a criticism on Bosch or all the standard components, manufacturer, suppliers,” Kuratle said. “It’s not a criticism at all, but it’s just the fact that, if there are certain things we would like to change for the 963, for example, the suppliers, they cannot do it because they have to do the same thing for the others as well, and they may not agree to this.”

“They are complicated cars, yes, this is true. But it’s not by the performance numbers; the LMP1 hybrid systems were way more efficient but also [more] performant than the system here. But the [spec components are] the way [they are] for good reasons, and that makes it more complicated,” he said.

A porsche 963 in the pit lane at road atlanta

North America is a very important market for Porsche, so we may see the 963 race here for the next few years. Credit: Hoch Zwei/Porsche

What’s next?

While the factory 963s will race in WEC no more after contesting the final round of the series in Bahrain in a few weeks, a continued IMSA effort for 2026 is assured, and there are several 963s in the hands of privateer teams. Meanwhile, discussions are ongoing between IMSA, the ACO, and manufacturers on a unified technical rulebook, probably for 2030.

Porsche is known to be a part of those discussions—the head of Porsche Motorsport spoke to The Race in September about them—but Kuratle wasn’t prepared to discuss the next Porsche racing prototype.

“A brand like Porsche is always thinking about the next project they may do. Obviously, we cannot talk about whatever we don’t know yet,” Kuratle said. But it should probably have something that can feed back into the cars that Porsche sells.

“If you look at the new Porsche turbo models, the concept is slightly different, but that comes very, very close to what the LMP1 hybrid system and concept was. So there’s all these things to go back into the road car side, so the experience is crucial,” he said.

Photo of Jonathan M. Gitlin

Jonathan is the Automotive Editor at Ars Technica. He has a BSc and PhD in Pharmacology. In 2014 he decided to indulge his lifelong passion for the car by leaving the National Human Genome Research Institute and launching Ars Technica’s automotive coverage. He lives in Washington, DC.

3 years, 4 championships, but 0 Le Mans wins: Assessing the Porsche 963 Read More »

gm’s-ev-push-will-cost-it-$1.6-billion-in-q3-with-end-of-the-tax-credit

GM’s EV push will cost it $1.6 billion in Q3 with end of the tax credit

The prospects of continued electric vehicle adoption in the US are in an odd place. As promised, the Trump administration and its congressional Republican allies killed off as many of the clean energy and EV incentives as they could after taking power in January. Ironically, though, the end of the clean vehicle tax credit on September 30 actually spurred the sales of EVs, as customers rushed to dealerships to take advantage of the soon-to-disappear $7,500 credit.

Predictions for EV sales going forward aren’t so rosy, and automakers are reacting by adjusting their product portfolio plans. Today, General Motors revealed that will result in a $1.6 billion hit to its balance sheet when it reports its Q3 results late this month, according to its 8-K.

Q3 was a decent one for GM, with sales up 8 percent year on year and up 10 percent for the year to date. GM EV sales look even better: up 104 percent for the year to date compared to the first nine months of 2024, with nearly 145,000 electric Cadillacs, Chevrolets, and GMCs finding homes.

GM’s EV push will cost it $1.6 billion in Q3 with end of the tax credit Read More »