A made-in-China electric vehicle will hit U.S. dealers this summer offering power and efficiency similar to the Tesla Model Y, the world’s best-selling EV, but for about $8,000 less. The EX30 from Volvo Cars, the Swedish luxury brand owned by China’s Geely, foreshadows the fierce competitive threat U.S. automakers could face from Chinese EV manufacturers that have surged far ahead of global rivals, especially on affordability. The $35,000 window sticker of Volvo’s compact SUV hits a sweet spot in the U.S. market, where most buyers cannot afford most EVs. The competitive price reflects an unusual combination of Geely’s China-specific cost advantages and Volvo’s ability to skirt U.S. tariffs on Chinese cars because it also has U.S. manufacturing operations, according to interviews with four sources familiar with Volvo and Geely strategy and several U.S. trade policy experts. Chinese EV makers can undercut global competitors largely because of the nation’s domination of…
Shares of Trump Media shot up more than 9% on Wednesday, hours after the company revealed it was urging House Republican committee leaders…
With the economy humming along and the stock market, despite some recent twists and turns, hanging in there pretty…
Walmart’s majority-owned fintech startup One has begun offering buy now, pay later loans for big-ticket items at some of the retailer’s more…
With the economy humming along and the stock market, despite some recent twists and turns, hanging in there pretty…
The Biden administration has issued a nationwide ban on the ability of employers to make their workers sign noncompete…
Tesla’s stock jumped about 8% in after-hours trading Tuesday after the electric vehicle giant reported its steepest annual revenue…
Former President Donald Trump is poised to receive an additional 36 million shares of Trump Media Tuesday — an “earnout” bonus worth more…
Longtime mall retailer Express filed for Chapter 11 bankruptcy protection on Monday, but a group of investors led by brand management…