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Detroit’s Packard plant ruins getting smaller

Detroit's most infamous abandoned auto plant is finally coming down after more than 60 years of being ravaged by scrappers and the elements.The city last week said it has started demolishing a second portion of the 40-acre Packard Plant,…

Hyundai Q4 earnings: $8.5B spending plan announced

Hyundai Motor Co. said it will invest 10.5 trillion won ($8.5 billion) in 2023 as it moves to electrify more of its fleet to meet rising consumer demand for cleaner cars. The money will be spent primarily on research and development and on…

Elon Musk: Tesla price cuts are boosting demand

The controversial CEO, who bought Twitter late last year, said that production of the Cybertruck pickup will not significantly contribute to the automaker's numbers this year. The original launch was promised for late 2021. "We do expect…

Tesla Q4 earnings: Net income surges 59% to $3.7B

The EV leader’s financial results beat analysts’ expectations for revenue even as its margin per vehicle slipped. Analysts are watching gross margin at the automaker given this month’s price cuts of up to 20 percent of some models and…

Honda to create division to speed up EV development

TOKYO -- Honda will create a new division in a bid to strengthen and speed up its electrification business as part of an overhaul of its organizational structure. The shake-up is part of the automaker's bid to catch up in the fast-growing…