Business
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California approves EV charging plan despite opposition
Why it matters: California is the largest EV market in the U.S., accounting for nearly half of the nation’s EV sales. The state needs to expand its charging infrastructure to meet the growing demand and to reduce its greenhouse gas emissions from transportation, which is the…
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Tesla’s profit falls as price cuts hurt margins
Why it matters: Tesla is facing increasing pressure from rivals, regulators, and customers, as it tries to maintain its leadership in the electric vehicle market. The company has been cutting prices to attract more buyers, but this has hurt its profitability and brand image. The big…
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Car insurance bill hits record high amid inflation and accidents
Rates in the US have risen 37% since January 2020 as repair tabs for high-tech, sensor-laden vehicles have soared. Why it matters: Car insurance is a mandatory expense for most drivers, and it accounts for a significant portion of their transportation budget. A higher car insurance…
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US economy beats expectations, outshines rivals
Why it matters: The US economy demonstrated its resilience and dynamism in the face of unprecedented challenges and uncertainties, while other major economies such as the eurozone, the UK and Japan struggled with low growth and deflationary pressures, reflecting their weaker fiscal and monetary responses…
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Pepsi tests Tesla Semi trucks for sustainability and efficiency
Why it matters: Pepsi is one of the largest buyers of Tesla Semi trucks, which are expected to go into mass production in 2024. The company has a goal to be carbon neutral by 2040 and to reduce its greenhouse gas emissions by 40% by 2030.…