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Lucid delivers just 360 EVs in Q1; price hikes loom after $598M operating loss

The California EV startup continues to struggle with parts shortages and rising costs. One silver lining: April deliveries of 300 Air sedans showed marked improvement......»»

Source:  AutonewsCategory: AutoMay 6th, 2022Related News

Adient swings to $81 million net loss in latest quarter

Adient said it is implementing a "Back to Basics" strategy, which calls for focusing on improving "launch execution, cost/operational improvement, and customer profitability management.".....»»

Source:  AutonewsCategory: AutoMay 6th, 2022Related News

Stellantis executive says Michigan ‘absolutely" in contention for EV plant

"We are in the final stages of going through the analysis, and so I would hope within the next month, two months maximum, we should be able to be at a position to (announce)," COO Mark Stewart said......»»

Source:  AutonewsCategory: AutoMay 6th, 2022Related News

Cars.com posts lower profit, higher revenue in Q1

Dealership technology company Cars.com reported 19,500 dealership customers as of March 31, the highest count in more than three years, CEO Alex Vetter said......»»

Source:  AutonewsCategory: AutoMay 6th, 2022Related News

EV chargers emerge as targets for hackers

High-profile incidents of hacked EV charging stations around the world have shone a spotlight on vulnerabilities......»»

Source:  AutonewsCategory: AutoMay 6th, 2022Related News

GM supplier Glencore to invest $200M in GM battery recycling partner Li-Cycle

Li-Cycle says Glencore's investment will improve cash position, giving it reserves to finish construction on the series of projects. Both companies have key EV-related dealings with General Motors......»»

Source:  AutonewsCategory: AutoMay 6th, 2022Related News

CATL to hike prices in Q2

Chinese battery maker has almost completed negotiations with customers on price changes and will gradually implement such adjustments in the second quarter, padding gross profit margins......»»

Source:  AutonewsCategory: AutoMay 6th, 2022Related News

IIHS considers higher-speed test to evaluate automatic emergency braking systems

The Insurance Institute for Highway Safety said it was considering increasing the speed range of its vehicle-to-vehicle front crash prevention test to 35 to 45 mph after finding that today's test — conducted at both 12 and 25 mph — represents onl.....»»

Source:  AutonewsCategory: AutoMay 6th, 2022Related News

Bentley Q1 earnings soar despite vehicles lost at sea, China delays

LONDON — Bentley's first-quarter operating profit jumped 162 percent versus the same period last year, as soaring vehicle prices offset the loss of some vehicles at sea and pandemic-related delivery problems in China. The Volkswagen Group unit sai.....»»

Source:  AutonewsCategory: AutoMay 6th, 2022Related News

Nikola losses widen to $153 million in Q1

Nikola Corp. reported wider quarterly losses on Thursday, with the electric-truck maker incurring higher costs as it ramped up production of its electric semi trucks. The company said its net loss widened to $152.9 million in the first quarter ended.....»»

Source:  AutonewsCategory: AutoMay 6th, 2022Related News

Elon Musk negotiating with potential partners, investors on Twitter deal, report says

Elon Musk is in talks with large investment firms and high net-worth individuals about taking on more financing for his $44 billion acquisition of Twitter, Reuters reported......»»

Source:  AutonewsCategory: AutoMay 2nd, 2022Related News

U.S. commits more than $3.1 billion to boost EV battery output

About $3.16 billion in grants will be made available to produce key metals for the batteries, such as lithium, cobalt and nickel. The grants are intended to reduce U.S. reliance on competitors led by China......»»

Source:  AutonewsCategory: AutoMay 2nd, 2022Related News

U.S. commits more than $3.1 billion to boost U.S. EV battery output

About $3.16 billion in grants will be made available to produce key metals for the batteries, such as lithium, cobalt and nickel. The grants are intended to reduce U.S. reliance on competitors led by China......»»

Source:  AutonewsCategory: AutoMay 2nd, 2022Related News

Ford recalls more than 250,000 Explorers for rollaway risk

The defect is caused by the rear axle horizontal mounting bolt fracturing during acceleration. The fractured bolt causes a severe noise that customers describe as "loud, grinding, binding, or clunking," NHTSA said......»»

Source:  AutonewsCategory: AutoMay 2nd, 2022Related News

Stellantis investing $2.8 billion in EV-focused assembly plants, R&D centers in Canada

Stellantis will retool its plants in Windsor and Brampton, converting them to what the company described in a statement as “flexible, multi-energy vehicle assembly facilities ready to produce the electric vehicles of the future.”.....»»

Source:  AutonewsCategory: AutoMay 2nd, 2022Related News

Toyota is running out of EV tax credits

Toyota is inching closer to using up a tax credit for hybrid and electric vehicles, a milestone the automaker argues raises its costs......»»

Source:  AutonewsCategory: AutoMay 2nd, 2022Related News

Porsche and Audi have decided to join Formula One

There has been speculation for several months that the two brands were in negotiation over partnerships to enter the highest class of international motor racing......»»

Source:  AutonewsCategory: AutoMay 2nd, 2022Related News

VW to use Qualcomm chips for autonomous vehicles

The automaker will use Qualcomm's system-on-a-chip, developed specifically for automated driving, across all its brands worldwide, a German business newspaper reported......»»

Source:  AutonewsCategory: AutoMay 2nd, 2022Related News

Mitsubishi to U.S. employees: Work from home forever

Mitsubishi Motors North America will allow most of its 300 U.S. employees to work from home indefinitely......»»

Source:  AutonewsCategory: AutoMay 1st, 2022Related News

Face-to-face roadside help available to BMW drivers

BMW partners with software company Blitzz to provide video chat-enabled roadside assistance......»»

Source:  AutonewsCategory: AutoMay 1st, 2022Related News