The company, long focused on cars and trucks, plans to begin manufacturing large batteries used by utilities, data centers, other businesses and homeowners.
Ford Motor shut down a battery factory and laid off 1,600 workers after President Trump and Republicans gutted government support for electric vehicles.
“The Model S was a breakthrough and ushered in quite a number of technologies people hadn’t seen before,” said Sam Abuelsamid, an executive at Telemetry, a Detroit communications and research firm.
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.
Falling car sales have taken a toll on Tesla’s net profit. The company announced Wednesday that it would stop producing its S and X model cars within months.
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.
A General Motors factory in Spring Hill, Tenn. G.M. said on Tuesday it planned to introduce a more advanced version of its Super Cruise driver assistance system in 2028.
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.
Electric vehicles at a Volkswagen plant in Dresden, Germany. The company is an extreme example of how difficult it has been for foreign automakers to cope in the U.S. car market.
Battery assembly at a General Motors facility in Spring Hill, Tenn. Electric cars have become more difficult to sell since the elimination of federal tax credits last year.
The marketing for the Toyota Prius may have inadvertently started the culture war around hybrid and electric vehicles by characterizing them as a way to save the planet, some experts say.
Shares of Tesla have hit new highs on optimism about the company’s self-driving taxis. But experts say Tesla is far behind Waymo, which has a big head start.
Be sure you have the right equipment and apps for weather and traffic, and don’t forget to check those tires. Here are more tips for hitting the highway.
Ford Motor said the costs came from its decision to make fewer electric vehicles than it had planned and more hybrids that use both gasoline engines and batteries.
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