Tech

The electric vehicle revolution has hit a roadblock

Published

1 year ago

February 14, 2024

Ahron Young

The once-blazing trail toward an electric vehicle future has hit a sudden snag.

Automakers, buoyed by optimistic projections and societal shifts toward cleaner transportation, found themselves hitting the brakes as consumers proved more hesitant than anticipated.

Ford’s bold bet on the F-150 Lightning, symbolising the industry’s zeal for electric pickups, has seen a stark turnaround.

From plans to quadruple production capacity, the company now slashes output by half, reflecting a broader industry trend of recalibration in the face of tepid demand.

Unsold vehicles

Last year’s fervor for EVs has cooled considerably, with dealers now grappling with unsold inventory rather than clamoring for more.

Major players like Ford, General Motors, and Volkswagen have pivoted from aggressive EV expansion to reevaluating strategies, as consumer preferences diverge from earlier projections.

The shift, according to industry insiders, reflects a miscalculation in understanding consumer sentiment.

What was once viewed as an inevitable transition now faces resistance, with buyers reluctant to pay premium prices for vehicles that come with perceived compromises.

Ford beefs up Lightning production

Investment rethink

Ford, which initially rode the EV wave with confidence, is now revising its investment plans, potentially delaying vehicle launches while focusing on hybrid production.

The company incurred significant losses in its battery-powered car business last year, with projections indicating further financial strain in the current year.

Acknowledging the disconnect between projections and reality, some executives attribute the misstep to the industry’s exuberance amidst pandemic-induced supply chain disruptions.

The initial excitement over EVs, fueled by supply shortages and long waiting lists, gave way to a more discerning consumer base, raising concerns over practicality and affordability.

Industry commitment

Despite the setback, industry leaders remain committed to EVs, albeit at a more measured pace.

The seismic shift in market dynamics, as described by Ford’s CEO Jim Farley, underscores the need for a recalibrated approach, aligning with evolving consumer preferences.

Tech

Trump extends TikTok sale deadline by 90 days

Trump extends TikTok’s sale deadline to US owner by 90 days, ensuring continued access for American users.

Published

3 days ago

June 20, 2025

ticker NEWS

Trump extends TikTok’s sale deadline to US owner by 90 days, ensuring continued access for American users.

In Short:
President Trump extended the deadline for TikTok’s parent company, ByteDance, to sell the app to an American owner by 90 days, allowing it to operate in the U.S. until September 17, 2025. He hopes for a deal with China while maintaining TikTok’s presence for its 170 million U.S. users amidst security concerns.

President Donald Trump has extended the deadline for TikTok’s parent company, ByteDance, to sell the app to an American owner by another 90 days.

The executive order signed by Trump allows the Chinese company to continue operating in the U.S. until September 17, 2025. Trump announced the extension on Truth Social, expressing hope for a deal with Chinese President Xi Jinping.

During a flight on Air Force One, Trump suggested that Xi would be willing to approve a sale if a buyer appeared. White House Press Secretary Karoline Leavitt emphasised the administration’s aim to keep TikTok available for American users while ensuring data security.

TikTok has approximately 170 million users in the U.S., with declining support for a ban, according to Pew Research. An initial ban on the app, instituted under the Biden Administration over national security issues, briefly took effect but was reversed after Trump indicated he would allow TikTok to continue.

TikTok has asserted that it does not pose any security threats to the U.S. and that American data is not stored in China. Following the extension, users have returned to TikTok, with reduced engagement on competing platforms.

Past potential buyers include Amazon and Reddit co-founder Alexis Ohanian, though no sale was finalised due to trade tensions. Under U.S. law, ByteDance must sell TikTok to a U.S. buyer, but the company has remained silent about its intentions.

Tech

Smart glasses could replace smartphones by 2035

“Experts predict smart glasses powered by AI will replace smartphones by 2035, transforming our tech interactions.”

Published

5 days ago

June 18, 2025

Ahron Young

“Experts predict smart glasses powered by AI will replace smartphones by 2035, transforming our tech interactions.”

Smart Glasses Could Replace Smartphones by 2035 — Experts say wearable tech powered by AI is on track to replace smartphones within a decade. T

These sleek, voice-first devices are poised to transform how we interact with technology, with tech giants investing heavily in the space. Will your next phone fit on your face?

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#SmartGlasses #TechRevolution #AI #Wearables #FutureTech #BigTech #VoiceFirst #NextGenDevices

Tech

AI will reduce Amazon workforce, CEO Andy Jassy predicts

Amazon CEO predicts AI will shrink workforce, altering job types, but won’t lead to immediate mass layoffs.

Published

5 days ago

June 18, 2025

Ahron Young

Amazon CEO predicts AI will shrink workforce, altering job types, but won’t lead to immediate mass layoffs.

In Short:
Amazon CEO Andy Jassy warns that advancements in artificial intelligence may reduce the workforce over time, primarily through attrition rather than mass layoffs. Many industries, including retail, are adopting AI, which could lead to job cuts while creating new specialised roles.

Amazon CEO Andy Jassy has indicated that advancements in artificial intelligence (AI) will likely lead to a decrease in the workforce within the company in the coming years.

In a recent communication to employees, Jassy described generative AI as a transformative technology that is already changing Amazon’s operations and customer interactions.

While he did not specify the exact extent of job reductions, he acknowledged that improvements in efficiency through AI would result in fewer roles.

Upcoming changes will primarily occur through attrition rather than mass layoffs, as seen in previous years. Certain teams may face layoffs, particularly those related to products like Alexa.

Impacts of AI

Jassy’s remarks are among the strongest from a large corporation regarding the potential impacts of AI on employment.

Various industries, including retail and pharmaceuticals, are adopting AI for multiple functions, which necessitates new job roles but also implies potential job cuts.

Surveys show a significant percentage of employers anticipate downsizing their workforce as a result of AI.

In the tech sector, many companies are prioritising the hiring of individuals with AI skills, as AI tools become integral to business efficiency.

Amazon plans to heavily invest in AI infrastructure. Jassy noted that the company is developing over 1,000 AI agents to enhance its productivity.