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Browsing Category
auto
VW Mexico union to hold new contract vote after workers reject pay deal
MEXICO CITY -- Workers at Volkswagen Group's main Mexico factory will be asked to vote again on whether to approve their union's deal with management for a 9 percent pay increase after initially rejecting the agreement, the union said.
The…
Tesla vs Mahindra Meme Fest: Anand Mahindra’s Reaction to User’s Post on Tesla Not Coming to…
Business tycoon Anand Mahindra on Tuesday shared a tweet after a user posted a meme about Elon Musk's Tesla not coming to India. The post shows the famous dialogue from Mirzapur web series, "Hum Karte Hai Prabandh" …
Audi, Porsche, Kia say EV buyers in the U.S. will lose tax credit under legislation
WASHINGTON -- Audi of America, Kia and Porsche said buyers of its electric vehicles will lose access to federal tax credits of up to $7,500 once President Joe Biden signs a $430 billion climate, health and tax measure.
The legislation set…
Rivals take on Tesla with Plug & Charge system for EVs
Once every party has accepted the others' certificates as validated by a third party, the charging session initiates automatically. Robert Barrosa, senior director of sales, business development and marketing at Electrify America, called…
Stellantis’ Free2move grows as other short-term rentals close
Stellantis' unit is growing at a time when GM, BMW and Daimler have moved away from car sharing.
Hero MotoCorp Posts Over 2-Fold Rise in Consolidated Profit After Tax to Rs 585 Crore for April-June…
New Delhi, August 12: Hero MotoCorp Ltd on Friday reported over two-fold rise in consolidated profit after tax at Rs 585.58 crore in the first quarter ended June 30, 2022, riding on higher sales.
The company had…
Mazda, stung by China’s COVID lockdowns, seeks parts elsewhere
TOKYO -- Mazda Motor Corp. said on Friday it would ask its parts suppliers to increase stockpiles in Japan and produce components outside China after COVID-19 lockdowns in Shanghai destabilized supply lines and hampered production.
The…
CATL lands Mercedes as first customer for Hungary battery plant
BERLIN -- Mercedes-Benz will be the first carmaker to receive cells from a new 7.34 billion euro ($7.6 billion) battery factory that China's CATL plans to build in Hungary.
CATL said construction of the 100 gigawatt-hour plant will start…
How the CHIPS Act could help the auto industry
The bill comes 18 months into a disruptive global microchip shortage that has crimped auto production worldwide and sent average vehicle transaction prices soaring. Automakers have cut 13.5 million vehicles out of their factory schedules…
GM closes Chevy Bolt EV plant after possible homicide
General Motors has closed its Chevrolet Bolt plant after a possible homicide took place on site Thursday morning, Automotive News has learned.
Production at Orion Assembly in Lake Orion, Mich., has been canceled for the day while the…
Toyota keeps plan to build 9.7M vehicles despite factory stoppages
TOKYO -- Toyota said Wednesday it would stick to its plan to produce 9.7 million vehicles globally this fiscal year, even as it announced another stoppage related to the spread of COVID-19.
The Japanese automaker is seeking to boost…
Canadian Tesla factory is a real possibility lobbying documents show
Tesla is lobbying the Government of Ontario as part of an effort to set up an "advanced manufacturing facility" in Canada, a filing by the electric-vehicle maker to the province's Office of the Integrity Commissioner showed.
The company's…
Hyundai To Recall Over 70k Vehicles Over Faulty Components
Seoul: Hyundai Motor will voluntarily recall more than 70,000 vehicles to fix faulty components, the Transport Ministry said on Thursday. Hyundai is recalling 70,582 units of six models that include the Xcient QZ…
Harley-Davidson Nightster Launched in India at Rs 14.99 Lakh
Harley-Davidson, the American motorcycle maker, officially launched the Nightster bike in India starting at Rs 14.99 lakh (ex-showroom). The Nightster is a toned-down version of the Sportster S. It is built on light…
‘Take That, Elon Musk’: Ford CEO Jim Farley Takes a Dig at Tesla CEO While Announcing…
San Francisco: Drawing a comparison between Tesla's long-delayed Cybertruck and Ford's plug-in pick up -- F-150 Lightning, Ford CEO Jim Farley took a dig at tech billionaire Elon Musk while announcing a major…
Ford to make large solar power purchase from DTE Energy
Ford Motor Co. has committed to buying at least $120 million of solar power annually from DTE Energy Co., which plans to expand its solar infrastructure in Michigan by nearly 70 percent to 650 megawatts.
Ford's commitment amounts to the…
Elon Musk sells Tesla shares worth $6.9 billion, cites chance of forced Twitter deal
Tesla CEO Elon Musk sold $6.9 billion worth of shares in the electric vehicle maker, saying the funds could be used to finance a potential Twitter deal if he loses a legal battle with the social media platform.
"In the (hopefully unlikely)…
VW’s new CEO plans to downsize board, report says
VW's new CEO, Oliver Blume, could reduce the number of management board seats to eliminate dual functions, sources said.
Musk sells Tesla shares worth $6.9 billion, cites chance of forced Twitter deal
Tesla CEO Elon Musk sold $6.9 billion worth of shares in the electric vehicle maker, saying the funds could be used to finance a potential Twitter deal if he loses a legal battle with the social media platform.
"In the (hopefully unlikely)…
GM EV profit, scale to expand as Ultium plants open, CFO says
General Motors has accelerated development of its electric vehicles to get them to the market faster. Scaling production to improve EV profits comes next.
"A vehicle is coming to market much, much sooner than it otherwise would. That's a…
China set to sell a record 6 million EVs in 2022, group says
Electric vehicles sales in China are forecast to hit a record 6 million this year as demand for cleaner cars surges.
The China Passenger Car Association raised its estimate from 5.5 million, after releasing data showing deliveries of…
Auto supplier Gissing North America files for bankruptcy
Gissing North America LLC has filed for Chapter 11 bankruptcy protection with up to $100 million in liabilities.
Gissing, based in Bingham Farms, Mich., is a subsidiary of a Chinese automotive supplier, and manufactures interior acoustic…
Royal Enfield Hunter 350 Launched in India; Price, Bookings, Features & Specifications
Royal Enfield officially launched the Hunter 350 motorcycle in India starting at Rs 1.49 lakh (ex-showroom). Last week, the MD of Royal Enfield revealed the first look of the Hunter 350 via an Instagram port, and…
Inflation Reduction Act, with EV tax credits, passes Senate
The Senate passed a landmark tax, climate and health-care bill, speeding a slimmed-down version of President Joe Biden’s domestic agenda on a path to becoming law after a year of Democratic infighting that the White House was unable to…
‘Piglets’ comment about dealers cited in start of trial against Mercedes-Benz Australia
Mercedes-Benz Australia officials referred to dealers as "little piglets" in internal communication, according to evidence presented last week at the start of a trial in a $500 million lawsuit filed against the automaker.
A lawyer for the…
Jump in the pool while you charge up, Tesla says
A video posted by the Tesla Welt Podcast last week showed the pool in the process of being installed. "No, I'm not kidding. Tesla is actually building a pool here," David, the podcast's host, said in the video. "I think this is an awesome…
Toyota earnings drop doesn’t deter full-year outlook
TOKYO — Japanese juggernaut Toyota Motor Corp., coming off a year of record profits, saw earnings retreat in the latest quarter but remains bullish about U.S. economic prospects.The company, in announcing its quarterly financial results…
Auto industry forecasting is suddenly really tough
"A lot of Tier 2, Tier 3, smaller suppliers have thrown contracts out the window and said, 'This is what you've got to pay or you won't get the parts,' " said Pat D'Eramo, CEO of Martinrea, a supplier of metal parts, assemblies and…
Cooper-Standard earnings: Q2 revenue sees an uptick
Cooper-Standard Holdings Inc. posted higher revenue and a narrower net loss in the second quarter because of improving global market conditions and easing inflation pressures, the company said in an earnings report Thursday.
The Michigan…
American Axle: 2Q profit slips
American Axle & Manufacturing Holdings Inc. took another supply chain-related hit to its bottom line in the second quarter but offered a better-than-expected financial outlook through the end of the year.
Gross profit fell 9 percent to…