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Illustrations by Oscar Bolton Green for Bloomberg Businessweek

Illustrations by Oscar Bolton Green for Bloomberg Businessweek

Bloomberg01-04-2025

Despite a collapsing stock price and political backlash against founder Elon Musk, the world's top-selling plug-in carmaker has several positives to look forward to. Orders for Tesla's newly revamped Model Y are accelerating, notably even in China, and production rates are poised to increase quickly. Meanwhile, the company's battery sales to utilities, which generate higher margins than autos, appear underappreciated as a profit driver. —Steve Man

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STMicro Unveils Smart Sensor To Cut PC Power Use, Boost Privacy
STMicro Unveils Smart Sensor To Cut PC Power Use, Boost Privacy

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time29 minutes ago

  • Yahoo

STMicro Unveils Smart Sensor To Cut PC Power Use, Boost Privacy

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Trump not on ballot but president influences Tuesday's high-stakes primary
Trump not on ballot but president influences Tuesday's high-stakes primary

Fox News

time29 minutes ago

  • Fox News

Trump not on ballot but president influences Tuesday's high-stakes primary

Virginia, one of only two states to hold gubernatorial elections this year, conducts high-profile primaries on Tuesday that may grab national attention. Voters in Virginia, a competitive state in American political elections, will cast Democrat and Republican primary ballots for governor, lieutenant governor, attorney general and for state lawmakers in the House of Delegates. And while President Donald Trump isn't on the ballot, his sweeping and controversial agenda has been a key part of the conversation on the Virginia campaign trail. Trump's Department of Government Efficiency, better-known by its acronym DOGE, has been on a mission to chop government spending and cut the federal workforce. The moves by DOGE, which until last month was steered by Elon Musk, the world's richest person, have been acutely felt in suburban Washington's heavily populated Northern Virginia, with its large federal workforce. "The policies of DOGE have hit northern Virginia hard," Dave Richards, political science chair at the University of Lynchburg, noted. Trump's name and his policies have been front-and-center on the Virginia campaign trail in recent weeks. That's fueled strong turnout in the Democratic Party contests in the 45 days of early voting leading up to primary day as the candidates have pledged to fight the president's agenda. "Over 189,000 Virginians cast their ballots early in the Democratic primaries. 189,000!!!!" the state Democratic Party touted in a social media post on the eve of primary day. The healthy turnout comes despite there being no drama at the top of the ticket. The race for governor has already been set, between Republican gubernatorial nominee Lt. Gov. Winsome Earle-Sears and former Rep. Abigail Spanberger. But the winner in November will make history as Virginia's first female governor. And if Sears comes out on top, she'll become the nation's first Black woman to win election as governor. Virginia elected its first Black governor, L. Douglas Wilder, in 1989. Incumbent Republican Gov. Glenn Youngkin, who has a large national profile, is prevented from running for re-election as Virginia's constitution doesn't allow sitting governors to seek consecutive terms. Republicans have already decided their nominations for lieutenant governor and attorney general, so all the action down ballot is among the Democrats. The GOP's lieutenant governor nominee is former radio host John Reid, who, if elected, would be Virginia's first openly gay lieutenant governor. The six Democrats running to face off in November with Reid are, in alphabetical order, attorney Alex Bastani, state Sen. Ghazala Hashmi, chair of the Prince William County school board Babur Lateef, state Sen. Aaron Rouse, federal prosecutor and law professor Victor Salgado, and former Richmond Mayor Levar Stoney. The Republican nominee for attorney general is incumbent Jason Miyares. Two Democrats, former state lawmaker and former Washington, D.C., Assistant Attorney General Jay Jones and Henrico County Commonwealth's Attorney Shannon Taylor, are running to face off with Miyares in November. While Republicans currently control all three statewide offices, Democrats hold slim majorities in both chambers of the state legislature. All 100 seats in the House of Delegates - which the Democrats control 51-49 - are up for grabs in November. Kyle Kondik, the managing editor of the non-partisan political handicapper Sabato's Crystal Ball at the University of Virginia Center for Politics, highlighted that "the gubernatorial race will really help set the tone for the other statewide races and the race for the House of Delegates." And Richards noted, "the Republican ticket is very diverse, and the results of the Democratic primary will determine how diverse the democratic ticket is." Virginia's primaries are likely to grab attention, as it and New Jersey - which held primaries last week - are the only two states to hold gubernatorial showdowns in the year following a presidential election. And the results are also seen as a precursor to the following year's midterm elections, when Republicans will be defending their House and Senate majorities, and 36 states will hold elections for governor. Republicans swept the elections for governor, lieutenant governor, and attorney general in Virginia four years ago, breaking a 12-year losing streak to the Democrats. And while Republicans haven't carried the Commonwealth in a White House contest since 2004, Trump only lost the state by six points in last November's presidential election, a four-point improvement from his 2020 defeat. But Republicans will be facing historical headwinds this November. With only one exception since 1977, the party that holds the White House loses Virginia's gubernatorial election.

Chinese automakers build significant leads in zero-emission vehicle market, research finds
Chinese automakers build significant leads in zero-emission vehicle market, research finds

Yahoo

time3 hours ago

  • Yahoo

Chinese automakers build significant leads in zero-emission vehicle market, research finds

By Amir Orusov (Reuters) -Chinese automakers are rapidly pulling ahead in the global zero-emission vehicle (ZEV) market, according to research firm International Council on Clean Transportation (ICCT). WHY IT'S IMPORTANT The global EV market is currently experiencing intense competition among its key players. China has a crucial role in the global EV transition, as it now accounts for over 11 million electric vehicles sold annually, which corresponds to more than half of global EV sales, ICCT said in a report. Electric vehicle sales in China surpassed over one million units in a single month for the first time this year, driven by strong domestic demand and targeted export efforts from Chinese manufacturers, Rho Motion said earlier. BY THE NUMBERS China-based automakers took the 5 top positions in ZEV class coverage, and 5 of 6 top positions for EV sales share, with companies like Geely and SAIC already reaching 50% EV sales share achieving their 2025 goals a year sooner than planned, ICCT data showed. BYD exceeded Tesla in global battery electric vehicle (BEV) sales for the first time in 2024, with a 25% increase in BEV sales and 47% increase in combined BEV and plug-in hybrid electric vehicle (PHEV) sales compared to 2023, the research firm said, adding both companies are in the "Leaders" category of the rating. KEY QUOTES "As China-based automakers expand globally, other leading global manufacturers face urgent pressure to accelerate their own transitions or risk losing competitive ground," said Drew Kodjak, president and CEO of the ICCT. "For the wider global auto industry, this is no longer just about meeting future goals – it's about remaining competitive today in a market that's charging up," he added. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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