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The world’s biggest automaker has navigated the industry’s turbulent E.V. transition, but is looking to new leadership to manage intensifying geopolitical challenges.
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The company, which owns Chrysler, Fiat, Jeep and Peugeot, is changing its strategy to gasoline and hybrid vehicles in an effort to revive weak sales.
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Prime Minister Mark Carney announced several measures Thursday aimed at making Canada a global leader in electric vehicles and rescuing an industry ravaged by U.S. trade policy.
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The company’s chief executive, Elon Musk, said this week that it would stop making the car, an electric pioneer in 2012, as well as the Model X.
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The automaker also said it would invest $2 billion in xAI, the artificial intelligence company controlled by its C.E.O., Elon Musk, and stop making the two oldest models in its lineup.
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The automaker said that it would buy back stock worth up to $6 billion and that it expected profit to rise this year after it pulled back from electric vehicle production.
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U.S. trade policy has devastated the Canadian auto industry and pushed the country to reach an agreement that will make it easier for Chinese companies to sell cars there.
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A storm is expected to bring hazardous driving conditions to much of the United States this weekend. Stay home if you can, but those who must travel should take it slow.
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The European Commission allowed carmakers to volunteer limits on their imports from China instead of paying tariffs, an arrangement that could help Volkswagen.
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He left the IndyCar Series to pursue a Formula 1 career, by way of Formula 2.
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A White House spokesman said the president “gave an appropriate and unambiguous response.”
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The German automaker’s sales in the United States plunged last year, hit by tariffs and the end of tax credits for electric vehicles.
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General Motors said it was writing down the value of battery and electric vehicle factories after changes in federal policy undercut demand.
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He won the Indianapolis 500 and is the reigning IndyCar Series champion, a title he has claimed four times.
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Its driver lineup at Daytona is changing, and the team has also dropped out of the World Endurance Championship.