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Automobile
Musk says Tesla’s two newest car plants are losing billions of dollars
Tesla Inc's new car factories in Texas and Berlin are "losing billions of dollars" as they struggle to increase production because of a shortage of batteries and China port issues, Chief Executive Elon Musk said recently.
"Both Berlin…
AlixPartners predicts supply chain issues to last through 2024; EV costs grow
Supply constraints and the semiconductor shortage will fester in the auto industry through 2024, consulting firm AlixPartners said at its annual Global Automotive Outlook briefing.
"We see pent-up demand driving sales through it, but…
Spin commits up to $2 million to micromobility research at universities
Spin, the San Francisco-based electric bicycle- and scooter-sharing company, said it will invest up to $2 million in university research on micromobility at Michigan State University and the University of Utah.
"We want it to be a…
VW still planning Porsche IPO, also eyeing battery unit listing as soon as 2023
ABB on Monday announced it's postponing the $750 million listing of its EV charging business until the market improves.
The Porsche listing is poised to be one of Germany’s biggest-ever IPOs and could value the business at as much as 90…
Victory Automotive Group buys Honda, Ford-Hyundai-Toyota dealerships
Victory Automotive Group, fresh off sales of two Honda stores in separate May transactions, made its first acquisition since late 2021 with the purchase of two dealerships representing four total franchises.
Victory Automotive, of…
Canada’s Dilawri Group buys Ferrari-Maserati dealership in suburban Washington, D.C.
One of Canada’s largest dealership group is stepping into the U.S. market with the acquisition of a luxury dealership in Sterling, Va., on the outskirts of Washington D.C.
The Dilawri Group of Cos. in Toronto said it purchased Ferrari…
First Shift: Partnership renewed for electric vehicle tire developments
• Hyundai, Michelin renew EV tire partnership
• BMW's $1B investment
• Did Tesla's layoffs violate federal law?
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Germany still discussing whether to support planned EU combustion engine car ban
BERLIN -- The German government is still discussing its voting behaviour on European Union plans to effectively ban the sale of new cars with combustion engines from 2035, a German government spokesperson said.
The comments come after…
Ford to end car production at German plant, will seek ‘alternative opportunities’ for…
Ford Motor Co. has no plans to replace Focus production at its vehicle assembly plant in Saarlouis, Germany, in 2025. Instead, the U.S. company will seek "alternative opportunities" for the factory, including selling it to another…
Manchin says union-built EV tax credit bonus is gone
WASHINGTON -- Senate Democrats have scrapped a $4,500 bonus tax credit for electric vehicles made with domestic union labor that was opposed by U.S. Sen. Joe Manchin, D-W.Va., as they seek to wrap up negotiations on a spending deal.…