BUSINESS

Photo Credit: Ferrari

Ferrari is gearing up to unveil its first fully electric sports car, a move set to redefine the landscape of luxury electric vehicles. The highly anticipated model will make its debut in the fourth quarter of 2025 and is expected to carry a premium price tag of over $535,000 (€500,000).

Photo Credit: Volkswagen

German auto giant Volkswagen will invest $5 billion in US electric vehicle maker Rivian and create a joint venture expected to produce technology used by both automakers, the companies announced Tuesday.

Photo Credit: Fisker
 
In a disappointing turn of events, Fisker Inc., the electric vehicle startup founded by renowned automotive designer Henrik Fisker, has filed for Chapter 11 bankruptcy protection. The filing comes as the company aims to restructure its operations and potentially sell its assets, following months of challenges in ramping up production of its highly anticipated Ocean SUV.

Photo Credit:BMW

BMW is pushing forward with its electrification plans, and the upcoming electric M3 is set to redefine high-performance vehicles. According to BMW M CEO Frank van Meel, this new M3, slated for release in 2027, will “beat everything” on the road, leveraging a cutting-edge quad-motor setup to deliver unprecedented power and control.

Photo Credit: Mercedes

U.S. electric vehicle (EV) startups are grappling with declining demand due to high borrowing costs and expensive repair bills. This downturn has forced companies to pivot to cheaper models, cut back on production, and lay off employees to stay afloat.

Photo Credit: Getty Images
 
OpenAI, the artificial intelligence research laboratory led by CEO Sam Altman, has announced its acquisition of Rockset, a real-time analytics database company. This strategic move aims to bolster OpenAI's enterprise AI offerings and improve its data retrieval systems.

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