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Automobile
BMW expects new EVs to match internal combustion-engine cars on profit
BMW will sign contracts with suppliers for the first vehicles on the platform by the end of the year. Contracts will be awarded “taking into account CO2 emissions and the percentage of secondary material as criteria for selecting…
Foxconn completes purchase of Lordstown Motors plant, thrusting it into EV-making business
Taiwan's Foxconn, best known as the manufacturer of the iPhone, is now in the car manufacturing business.
Lordstown Motors on Wednesday said the $230 million deal announced in the fall to sell its sprawling 6.2 million-square-foot plant…
Rivian earnings: EV maker posts $1.6 billion Q1 net loss on $95 million in revenue
EV-newcomer Rivian is struggling after a blockbuster listing in November, the sixth biggest IPO on U.S. record, helped put it on the map. The company was first-to-market with an electric pickup, beating out Ford Motor Co. -- an investor…
Alliance releases policy framework on EV battery recycling
"This transformation is well underway but requires a significant ramp up of EV battery manufacturing," John Bozzella, CEO of the alliance, said in a statement. "How do we keep the flow of battery components moving and available in a way…
GM, new union in Mexico strike deal for raises at Silao plant
MEXICO CITY - General Motors and a new independent union at the U.S. automaker's biggest Mexican plant have reached a deal for a new workers' contract that includes raises and benefits above inflation, the union said on Wednesday.The…
VW confirms revived Scout will be independently run brand selling EV trucks
VW, which gained a following in the U.S. with the Microbus and Beetle, has struggled with how to enter the lucrative U.S. pickup market, long dominated by the Detroit 3. It also lacks a bonafide off-road SUV such as the Jeep Wrangler or…
Carvana’s relentless stock rout leaves Wall Street struggling to catch up
It was only about nine months ago that Carvana was one of the darlings of the stock market, riding high amid seemingly insatiable investor demand for businesses that enabled people to shop, work, exercise and entertain themselves…
2023 Cadillac Escalade-V with 682-hp V-8 priced at nearly $150,000
Cadillac plans to launch a high-performance variant of the popular Escalade SUV this summer that starts at nearly $150,000. It will become the most expensive Cadillac, or about $46,000 more than the highest-priced 2022 Escalade trim,…
First Shift: New York dealer group spots a 'big business'
• New York dealer group bets on commercial trucks
• Mercedes sells out of EVs, virtually
• Tesla Recall in U.S.
• Vroom appoints new CEO
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Federal judge rules Elon Musk recklessly tweeted that ‘funding secured’ for taking Tesla…
SAN FRANCISCO -- A court said that Elon Musk's 2018 tweets that funding was secured to take Tesla Inc. private was inaccurate and reckless, saying "there was nothing concrete" about financing from Saudi Arabia's sovereign wealth fund at…