General Motors is cutting hundreds of workers as it restructures its design engineering team. The vehicle company's layoffs mostly affected its tech center in Warren, Michigan, a representative confirmed to Business Insider. The layoffs were in the "low hundreds," and were announced Friday morning."We're restructuring our design engineering team to strengthen our core architectural design engineering capabilities," a GM spokesperson wrote in a statement to Business Insider. "As a result, a number of CAD ex ...

Tesla (TSLA) announced its third-quarter financials last night. While the electric vehicle giant delivered better-than-expected sales, its bottom line came below the Street’s expectations. The quarterly report was hardly disappointing, with Tesla achieving record highs in both vehicle deliveries and free cash flow. Despite record deliveries and strong free cash flow, TSLA stock is trading lower in the morning session. The muted market response suggests that investors were hoping for even stronger performa ...

Tesla just blew past Wall Street's expectations, delivering over 497,000 cars last quarter. That's nearly a half a million in three months and a 7% jump from last year, even though production actually slipped. Driving the surge, likely a lastminute rush before the $7,500 EV tax credit expired in September.While Tesla leads by a mile, rivals are ramping up. GM set a new EV sales record with 66,500 deliveries. And Ford's EV sales jumped 30% to over 30,000 units, also a record.Still, both are far behind Tesla' ...