Virgin Orbit is ceasing operations “for the foreseeable future” after failing to secure a funding lifeline, CEO Dan Hart told employees at an all-hands meeting on Thursday. The company will lay off about 100 employees, according to audio from the 5 p.m. ET meeting obtained by CNBC. Shareholders poured out of the stock during extended … Read more
Ford has resumed full production of the popular F-150 Lightning electric pickup. Production was halted in February after a battery in one of the newly completed EV trucks caught fire. Ford also said it has raised prices again for certain versions of the Lightning. Ford F-150 Lightning trucks manufactured at the Rouge Electric Vehicle Center … Read more
U.S. Secretary of Transportation Pete Buttigieg looks at an EVgo charging station during an electric vehicle event outside the Department of Transportation on October 20, 2021 in Washington, DC. Drew Anger | Getty Images EV charging network operator EVgo on Thursday reported fourth-quarter revenue that beat Wall Street expectations and posted a smaller-than-expected loss as … Read more
