General Motors said on Monday that it was selling its stake in a nearly complete battery factory in Michigan to its partner LG Energy Solution, reducing to three the number of battery plants the carmaker will operate in the United States. G.M. and LG, a South Korean company, already produce batteries jointly at factories in… Continue reading G.M. Will Sell Stake in EV Battery Plant to LG
Author: New York Times Online News
Carlos Tavares, Stellantis CEO, Resigns
The chief executive of the automaker Stellantis, Carlos Tavares, has resigned, the company said on Sunday, amid a decline in profits and slumping sales in its key North America region. Mr. Tavares, 66, spearheaded the creation of the company in a 2021 merger of Fiat Chrysler Automobiles and France’s Peugeot. The company is one of… Continue reading Carlos Tavares, Stellantis CEO, Resigns
How China Became the World’s Largest Car Exporter
Source: Alix Partners Note: 2024 values are estimated. Just two decades ago, China had little capacity to make cars, and owning one was considered novel. Today, China produces and exports more cars than any other country in the world. President-elect Donald J. Trump has promised to impose new tariffs on China. Many countries, including the… Continue reading How China Became the World’s Largest Car Exporter
Volkswagen to Exit China’s Xinjiang Region After 12 Years
Volkswagen said on Wednesday that it was disposing of its ownership stakes in facilities in northwestern China’s Xinjiang region, exiting an area now known for the country’s crackdown on predominantly Muslim ethnic groups there. Volkswagen had a joint venture assembly plant in Urumqi, the capital of Xinjiang, as well as two test tracks in the… Continue reading Volkswagen to Exit China’s Xinjiang Region After 12 Years
Trump’s Tariffs Would Deal a Big Blow to the Auto Industry
President-elect Donald J. Trump’s threat to impose 25 percent tariffs on goods from Mexico and Canada sent shivers on Tuesday through the auto industry, which depends heavily on both countries for parts and manufacturing. The prospect of tariffs “is a two-alarm fire for the auto industry,” said Patrick Anderson, chief executive of Anderson Economic Group,… Continue reading Trump’s Tariffs Would Deal a Big Blow to the Auto Industry
How Trump Could Upend Electric Car Sales
Many car buyers have come to rely on a $7,500 federal tax credit on electric vehicles to soften the blow of their high prices. But those credits could disappear after President-elect Donald J. Trump takes office, leading to an almost immediate drop in sales of the cars and trucks. Electric car sales could fall 27… Continue reading How Trump Could Upend Electric Car Sales
What Elon Musk Needs From China
No American business leader has more visibly and lavishly supported President-elect Donald J. Trump than Elon Musk — and few if any have a more complex relationship with China, a country that Mr. Trump has vowed to confront with higher tariffs and other measures. Mr. Musk has a lot on the line. His best-known company,… Continue reading What Elon Musk Needs From China
Automakers Want Trump to Keep Federal E.V. Regulations in Place
Three of the nation’s largest automakers, Ford, General Motors and Stellantis, are strategizing with other car manufacturers on how to make a delicate request of President-elect Donald J. Trump: Don’t scrap the federal regulations that compel the industry to sell electric vehicles. The conversation would require diplomatic finesse. Mr. Trump has railed against the E.V.… Continue reading Automakers Want Trump to Keep Federal E.V. Regulations in Place
Ford to Cut 4,000 Jobs in Europe as Electric Vehicle Sales Slow
The American automaker said the cost-cutting measure would help it compete with Chinese rivals in the face of slowing demand for electric vehicles. Go to Source
Installing E.V. Chargers is Finally Paying Off for Retailers
Companies see charging as a potentially profitable business in and of itself, not just as a spur for foot traffic and sales. Go to Source