Lucid's net loss was an improvement over the $780 million loss in first-quarter 2023, but its stock price sank 7 percent in after-hours trading Monday to $3.05 per share.

A customer has accused a South Carolina dealership group of fraud, negligence, breach of contract and a consumer protection law violation for failing to disclose the used 2018 Mercedes-Benz E300 she bought had flood damage.

Electric-vehicle maker Tesla has launched another round of layoffs including staff from the software, service and engineering departments, Electrek reported Monday, citing emails and sources familiar with the matter.

Openlane said wholesale used-vehicle sales facilitated through its online marketplace rose 13 percent in the first quarter.

The Biden administration on Monday said it will spend more than $100 million to help small and medium-sized suppliers retool or expand their factories and improve their energy and cybersecurity infrastructures.

Momenta is working with China International Capital Corp., Goldman Sachs and UBS Group on a potential listing that may happen as early as this year, Bloomberg reported. The IPO could raise $200 million to $300 million.