The investigation into Faraday Future lasted for nearly four years, focusing on whether the EV startup made false and misleading statements during its 2021 merger with a SPAC and allegations of faked sales in 2023.
Oil is a particularly tricky resource to replace. It has been for 125 years now, except for the past five or six years, when we've had this new competitive lever in electric vehicles. The global EV fleet has been growing for years, gradually chipping away at the world's oil consumption as drivers turn to charging ports instead of gas stations.
President Donald Trump has long fought California's efforts to curb tailpipe emissions and spur electric vehicle adoption, and last summer he blocked the state's first-in-the-nation ban on the sale of new gas-powered cars by 2035. He's also routinely criticized California's highest-in-the-nation gas prices, which are largely due to taxes and environmental regulations.
With its new, smaller, and more affordable SUV, the California-based startup is entering the extremely competitive mid-size segment where the Tesla Model Y currently reigns supreme. With millions of units sold since its introduction in 2019, the Model Y certainly has a lot going for it, but competition in the segment has significantly heated up in the past few years.
Rivian has released pricing and specifications for the R2, and we now know a lot more about the long-awaited $45,000 base model, which will appeal to a far broader audience than the nearly $60,000 Performance trim that's launching first. But there's a catch. Compared to rivals like the Tesla Model Y, Hyundai Ioniq 5, and Chevy Blazer EV, the entry-level R2 falls short in one critical area: driving range.
This new EV developed under the HIMA umbrella in collaboration with Huawei seems about as close as you can get to cloning a Taycan without actually putting a Porsche badge on it. So many things about the Z7's design scream Taycan, from the general shape of its body to details like the daytime running lights, the vertical air intakes on the front bumper, and the body-colored aero details on the wheels.
Former Amazon Marketplace vice president Peter Faricy is the new person in charge of the company, and he started on Monday, Slate spokesperson Jeff Jablansky told TechCrunch. Most recently, Faricy had been an advisor at McKinsey and Bessemer Venture Partners. Faricy left the role at Bessemer to join Slate, according to Newsweek, which first reported the hire.
The Ford F-Series, encompassing models like the F-150, F-250, F-350, and F-450, claimed the title of best-selling vehicle in 29 states. This dominance underscores the pickup truck's unbreakable appeal across much of the country, particularly in rural, Midwestern, Southern, and Western states where towing capacity, durability, and utility for work or recreation remain top priorities.
Vintage cars, especially pickups and SUVs, are usually made from two parts: a standalone chassis and a body that bolts on top of the chassis. So why not swap the original underpinnings with something more modern, while retaining the classic look of the original bodywork? That's exactly what the United Kingdom's Electric Classic Cars thought of doing, and it might just supercharge the EV conversion world.
High costs and long charge times has led to a decline in demand for electric vehicles over recent months, with news headlines reflecting this trend. But with the UK's deadline for ending the sale of petrol cars set for 2035, this certainly isn't the end for electric vehicles. Publishers will be watching out to see how this story unfolds over the coming months.
