A jury decided Friday that Elon Musk was not liable for losses suffered by investors after he posted messages on Twitter saying he had secured the funding to take Tesla private in 2018. Investors had sued Mr. Musk, Tesla and the company’s board, arguing that his statements about his embryonic plan to take the electric… Continue reading Jury Rules for Elon Musk and Tesla in Investor Lawsuit Over Tweets
Author: New York Times Online News
Ford Lost $2 Billion in 2022 as Some Investments Soured
The company sold 1.15 million vehicles in the fourth quarter, an increase from 1.1 million a year earlier but about 500,000 fewer than Ford had expected, Mr. Lawler said. Ford’s production has been slowed by the global shortage of computer chips, and Mr. Lawler said the company expected some disruptions to continue this year and… Continue reading Ford Lost $2 Billion in 2022 as Some Investments Soured
GM Posts Solid Profit as It Pushes to Take On Tesla in EVs
General Motors on Tuesday reported solid profits for 2022, after overcoming the computer chip shortages and softening demand that has slowed much of the auto industry last year. The company reported $9.9 billion in net income, slightly below the total from the year before, while revenue rose 23 percent to $157 billion. It sold 3.6… Continue reading GM Posts Solid Profit as It Pushes to Take On Tesla in EVs
Tesla Could Start Making Cars in Mexico Next Year, Governor Says
Tesla’s new factory in the Mexican state of Nuevo León will cost $5 billion, will employ up to 7,000 people and could start churning out cars as early as next year, the state’s governor said on Friday. Tesla announced this week that it planned an assembly plant in Mexico — its fifth worldwide — but… Continue reading Tesla Could Start Making Cars in Mexico Next Year, Governor Says
Formula 1’s Rookie Class of 2023
When the season kicks off on Sunday in Bahrain, three rookies will have achieved their dreams of grabbing seats in Formula 1. Logan Sargeant with Williams, the first American driver in the sport in almost 10 years; Nyck de Vries with AlphaTauri; and Oscar Piastri with McLaren are embarking on their first seasons. Piastri has… Continue reading Formula 1’s Rookie Class of 2023
Formula 1’s Many Changes at the Top
Formula 1’s off-season was unusual. It is natural for drivers to swap teams, and several indeed did, but for several team principals and senior executives to move around is rare. But before the season started, there were major changes. Mattia Binotto resigned from Ferrari and was replaced by Frédéric Vasseur, who had been the team… Continue reading Formula 1’s Many Changes at the Top
With a Redesigned Car, Mercedes Hopes It Can Unseat Red Bull as F1 Champion
There was a period during its record streak of eight consecutive world championships from 2014 to 2021 that Mercedes seemed unbeatable. Yet when new rules were introduced to Formula 1 last year, changing the car designs to provide better racing, Mercedes’ prospects strikingly changed. The team failed to adjust to the new rules as well… Continue reading With a Redesigned Car, Mercedes Hopes It Can Unseat Red Bull as F1 Champion
General Motors Reaches Deal to Ensure Its Chip Supply
General Motors has reached an agreement with a large computer chip maker to help ensure it has a steady supply of semiconductors as it ramps up production of electric vehicles and complex components that require increases in computing power. Under the agreement, the chip maker, GlobalFoundries, agreed to set aside a portion of its manufacturing… Continue reading General Motors Reaches Deal to Ensure Its Chip Supply
Tesla’s Cybertruck Is Coming Soon. Maybe.
More than three years after Elon Musk stunned the auto industry with an electric pickup truck that looked more like a stealth fighter than a way to haul two-by-fours and drywall, Tesla said last month that it would begin building the vehicle by the end of 2023. The announcement has helped fuel a recovery in… Continue reading Tesla’s Cybertruck Is Coming Soon. Maybe.
Do You Work in the Auto Industry? We Want to Hear From You.
Growth in sales of electric vehicles has created thousands of jobs in auto manufacturing, batteries and other new fields, but not without turmoil. There is talk of layoffs at some suppliers and automakers even as other companies expand. I cover the auto industry for The New York Times, and I am planning to write about… Continue reading Do You Work in the Auto Industry? We Want to Hear From You.