Transportation

US Postal Service records whopping $6.5 billion net loss for 2023

The United States Postal Service on Tuesday reported a $6.5 billion net loss for fiscal year 2023. The USPS said operating revenue fell $321 million to $78.2 billion compared to the same period last year, as first-class mail fell to the lowest volume since 1968.

Ford announces F-150 production restart

Ford’s Rouge Electric Vehicle Center is up after a six-week break in production to expand and retool the plant for increased manufacturing capacity of the F-150 Lightning.

Musk mulling more price cuts for Tesla models

Tesla CEO Elon Musk is considering lowering the cost of Tesla vehicles as the company puts an emphasis on sales over profits, in hopes the self-driving software will boost margins.

Ford cuts prices on F-150 Lightning truck

Ford is lowering the price of its F-150 Lightning as plant capacity picks up, the cost of raw materials for batteries falls, and internal efforts are employed to scale production.

Kia to invest $200M in Georgia EV plant

South Korean automaker Kia will spend $200 million on its West Point, Georgia, facility to begin production of an electric-powered SUV, the company said Wednesday.