Sean McLain is a reporter for The Wall Street Journal and Yahoo Finance, specializing in the automotive industry and electric vehicles. His articles provide insights into the challenges and trends surrounding EV adoption, as well as the strategies and perspectives of major players in the industry. Sean's work has also been featured in Business Insider and MarketWatch.
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Sean McLain's articles predominantly focus on the auto and business sectors, with a strong emphasis on electric vehicles (EVs) and related topics. His coverage frequently includes press releases, private sector announcements, and cited data.
For effective outreach to Sean, consider providing insider perspectives or expert commentary regarding developments in the EV industry. This might include insights into market trends affecting EV demand, analysis of specific company strategies such as direct sales models or dealership approaches for selling EVs.
Given his interest in automotive business matters like car dealerships and automakers' decisions impacting EV production and sales processes, pitches should offer unique angles on these topics supported by credible sources or data.
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By: Sean McLain
CEO says direct-to-consumer sales are more expensive than expected for electric-vehicle startup
The CEO said that direct-to-consumer sales are more expensive than expected for the electric-vehicle startup.
As the electric-vehicle race heats up, a pair of Korean automakers are pulling ahead of larger rivals in the U.S. to emerge as Tesla biggest competition. Hyundai Motor and affiliate Kia jointly captured the No. 2 slot last year in U.S. electric-vehicle sales, trailing only Tesla, which still holds a commanding lead. Analysts say the allied carmakers, both a part of South Korea’s Hyundai Motor Group conglomerate, are poised to cement or advance their lead over non-Tesla rivals this year with fresh EV models and aggressive pricing.
ほんの1年前まで、自動車メーカーはEV需要の高まりに対応するのに苦労していた。ところが、数カ月の間に状況は一変し、EVシフトにブレーキがかかった。
Rivian Automotive said it would lay off 10% of its salaried workforce and expects vehicle output to be flat this year, citing tougher market conditions for its electric trucks. The startup said Wednesday it expects to produce roughly the same number of pickup trucks and SUVs this year as it did in 2023, about 57,000, short of analysts’ expectations of roughly 65,000 vehicles. Rivian Chief Executive RJ Scaringe said “challenging macroeconomic conditions,” including higher interest rates that make monthly vehicle payments pricier, were behind the weaker manufacturing outlook.
Rivian Automotive shares hit an all-time low Thursday, a day after announcing a disappointing production outlook for this year. Rivian also said it would lay off 10% of its salaried workforce as a cost-cutting measure. Several analysts interpreted the cost-cutting efforts as a bad sign for the company’s future.
The company says it might need to secure additional financing and is in talks with a large automaker for a partnership.
The startup is betting that customers will line up to buy a more affordable version of its EV vehicles.
Buyers find more to choose from as automakers expand options for those looking beyond gas-powered cars.
Buyers find more to choose from as automakers expand options for those looking beyond gas-powered cars.
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