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The Inflation Reduction Act would give up to $40,000 tax credits per heavy-truck purchase, suggesting that competition to get the Tesla Semi to compete with Nikola will heat up.

General Motors Co. reported weaker second-quarter profit than analysts’ estimates as semiconductor shortages kept production volumes in check. The automaker also warned it is bracing for tougher times ahead.

General Motors Co. will start selling a battery-powered Chevrolet Blazer next year, giving it a direct competitor to Tesla Inc.’s Model Y, the nation’s best-selling electric SUV.

General Motors Co.-backed self-driving startup Cruise is facing scrutiny from U.S. regulators and its own board of directors after a pair of on-road incidents raised questions about how ready the company is to expand its services.

Vehicle sales in the U.S. are expected to fall 17.3% this year to the lowest level in a decade as semiconductor shortages and other supply chain problems continue to hamper production.

Cruise, the self-driving startup controlled by General Motors Co., is working with the automaker’s BrightDrop electric van business on a plan to develop autonomous delivery vehicles, people familiar with the matter said.

Electric truck startup Lordstown Motors Corp.’s shares sank as much as 19% after it pushed back a deadline to complete the sale of its Ohio assembly plant to Foxconn.

General Motors Co. bought out the SoftBank Vision Fund 1’s stake in self-driving startup Cruise for $2.1 billion, ending the Japanese investment firm’s stake in the business and giving the Detroit automaker 80% ownership.

Spiking gasoline prices have hiked Americans’ monthly bills to fuel popular pickups and SUVs by hundreds of dollars, which is leading more consumers to kick the tires on electric vehicles.

Cruise LLC, the autonomous vehicle company that is majority-owned by General Motors Co., named founder Kyle Vogt its full-time chief executive officer.