This AI Stock Could Lead a $120 Billion Market

AI stocks are making waves, but the real breakthrough is happening in the $120 billion security robotics market. Autonomous robots are transforming public safety, and one company is ahead of the curve. Timing is everything. Ready to find out more?

Honda's Pickup Beats Tesla Cybertruck As Most American Made Truck

Anan Ashraf
November 02, 2024

Japanese automaker Honda Motor’s (NYSE:HMC) 2025 Ridgeline AWD pickup truck is the most American-made truck with 75% of its content sourced from either the U.S. or Canada, according to data shared by U.S. auto safety regulator National Highway Traffic Safety Administration (NHTSA.)

What Happened: Tesla Inc.’s (NASDAQ:TSLA) Cybertruck in comparison, has only 65% of its contents sourced from the two countries.

Tesla’s 2025 model year Model 3 Long Range vehicle is the most American vehicle in the U.S., with 75% of its content sourced from either the U.S. or Canada.

The Model Y, and Model 3 Performance, meanwhile, have only 70% content sourced from the two countries.

Other EV pickup trucks lag further behind, with both the gas and electric versions of the Ford F-150 having less than 50% of its contents sourced from either the U.S. or Canada.

Why It Matters: Manufacturing within the U.S. and sourcing components within North America makes EVs eligible for a $7,500 tax credit under the Inflation Reduction Act aimed at promoting domestic clean energy manufacturing.

The tax credit takes the purchase price down for eligible customers, spurring EV adoption. EVs, otherwise, are priced higher than gas vehicles on average.

All variants of Tesla’s Model 3 and Model Y are currently eligible for a tax credit of $7,500, and the two occupied the two top spots for best-selling EVs in the country in the third quarter, according to data from automotive research company Kelley Blue Book.

Check out more of Benzinga's Future Of Mobility coverage by following this link.

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Photo courtesy: Honda

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