Electric Vehicle Industry Updates

General Motors subsidiary, Cruise has named Marc Whitten, a former Xbox and Amazon executive, as its new CEO while appointing two additional executives to strengthen its leadership amidst ongoing efforts to relaunch self-driving technologies Additionally, another GM subsidiary, GM Defense, is working with the Naval Surface Warfare Center and the University of Texas at Arlington in a Department of Defense-funded project to test EV battery technology for military applications In contrast, Tesla has been dealing with multiple recalls affecting over 11,000 Cybertrucks due to windshield wiper and trim issues but has seen strong vehicle registrations in China, marking a significant week with 17,500 new registrations. Tesla is also exploring the use of Michelin's latest airless tire technology across its EV lineup Meanwhile, Volkagerg Hathaway has reduced its holdings in BYD to just under 6%, further diminishing its influence in the Chinese New Energy Vehicle company Rivian, expanding its market reach, introduces leasing options in three new U.S. states, while forming a substantial $5 billion partnership with Volkswagen to mitigate cash concerns and escalate its business operations.