The temporary U.S. layoffs affect factories in Michigan and Indiana, while the Ontario plant in Canada will shut down for two weeks, and the Toluca facility in Mexico will remain closed through April.
The company reported a full-year 2024 net profit of €5.47 billion ($5.72 billion), down from €18.6 billion a year earlier, with EPS falling to €1.84 from €5.94.
The automaker's tech ambitions appear overshadowed by regulatory and leadership challenges, leaving investors hesitant to bet on a turnaround.
The company’s PlanetScope satellite imagery and high-resolution SkySat imagery will serve as complementary data to ESA’s existing offerings.
The company said it is currently in advanced talks with various capital sources.
The plan also reportedly includes ramping up the production of hybrid models in Italy.
Bit Digital missed Wall Street's revenue and earnings per share expectations, as its Bitcoin mining revenue declined by 11%.
EHang’s flagship product is the EH216-S, a two-passenger eVTOL muticopter aircraft deployed for advanced air mobility
Following the mixed results, Paysafe was among the top three trending tickers on Stocktwits before the market opened on Wednesday.
Revenue for the quarter came in at $67.5 million, surpassing the consensus of $65.95 million, while network throughput saw a massive 111% year-over-year growth.