A Tesla founder and former chief executive said on Tuesday it was a "shame" to hear that the automaker was scrapping its low-cost car plans amid fierce competition in China. Martin Eberhard was speaking at the HSBC Global Investment Summit in Hong Kong. On Friday, Reuters reported that Tesla was cancelling its long-promised inexpensive car that investors had been counting on to drive growth...

Spirit Airlines said on Monday that it would delay delivery of new Airbus planes and furlough pilots to save money as it seeks to overcome several setbacks, including a blocked merger, engine problems and a lackluster recovery from the pandemic. - The Biden administration will award up to $6.6 billion in grants to Taiwan Semiconductor Manufacturing Co, the leading maker of the most advanced microchips, in a bid to bring some of the most cutting-edge semiconductor technology to the United States...

Tesla has reached a settlement with the family of a driver who died in a 2018 crash involving the company’s driver-assistance technology Autopilot, days before attorneys were poised to deliver opening statements. The driver died on Highway 101 in California after his Model X sport-utility vehicle crashed into a highway barrier while he was using Tesla’s Autopilot. Huang’s family, which brought the lawsuit, had pursued a distinctive line of argument, questioning whether the automaker oversold Autopilot’s capabilities and didn’t take sufficient actions to prevent customers from misusing the technology...