G.M. said it had sold 691,978 vehicles from April through June — a 19 percent jump from a year earlier. Like other automakers, G.M. faced shortages of computer chips and other parts in the pandemic, which sent up the cost of vehicles, forced factories to shut down and left car dealers with sparse lots. Sales… Continue reading The Big Number: 19
Author: New York Times Online News
Mercedes’ F1 Performance Improves After Adjustments to Its Racecar
After qualifying was finished for the season-opening Bahrain Grand Prix in March, Toto Wolff, the Mercedes team principal, condemned his own car. Lewis Hamilton and George Russell, the team’s drivers, had finished over six-tenths of a second behind the leading time set by the reigning champion, Max Verstappen of Red Bull, which is a huge… Continue reading Mercedes’ F1 Performance Improves After Adjustments to Its Racecar
F1 Teams Are Already Working on the Power Units Coming in 2026
Formula 1’s 2023 season isn’t even half over, but manufacturers are already working on 2026. That is when revised power-unit regulations, running through 2030, will take effect. It will be the biggest overhaul to the rules since the introduction of 1.6-liter V6 turbocharged engines in 2014. There will be more manufacturers and a step toward… Continue reading F1 Teams Are Already Working on the Power Units Coming in 2026
Lithium Scarcity Pushes Carmakers Into the Mining Business
Eager to avoid falling further behind Tesla and Chinese car companies, many Western auto executives are bypassing traditional suppliers and committing billions of dollars on deals with lithium mining companies. They are showing up in hard hats and steel-toed boots to scope out mines in places like Chile, Argentina, Quebec and Nevada to secure supplies… Continue reading Lithium Scarcity Pushes Carmakers Into the Mining Business
Auto-Industry Group Assails Biden’s Plan to Electrify America’s Cars
But last year, all-electric vehicles accounted for just 5.8 percent of new cars sold in the United States. Mr. Biden last year signed a law designed to encourage Americans to buy more electric vehicles by providing up to $7,500 in tax credits to purchasers, but many foreign-made vehicles aren’t eligible for the tax credits. Experts… Continue reading Auto-Industry Group Assails Biden’s Plan to Electrify America’s Cars
Lordstown Motors, an Electric Truck Maker, Files for Bankruptcy
Lordstown Motors, the troubled electric vehicle company that bought a shuttered General Motors factory in Ohio with grand plans to create the Tesla of pickup trucks, filed for bankruptcy protection on Tuesday. Once hailed by former President Donald J. Trump for preserving manufacturing jobs, the company struggled with a series of development setbacks and frequent… Continue reading Lordstown Motors, an Electric Truck Maker, Files for Bankruptcy
Tesla May Have Already Won the Electric Vehicle Charging Wars
Mary Barra and Elon Musk may be intense business rivals, but they sounded like old pals as they chatted on Twitter this month about a deal that could help remove one of the biggest barriers to electric vehicle ownership: not enough chargers. Ms. Barra, the chief executive of General Motors, had just agreed to follow… Continue reading Tesla May Have Already Won the Electric Vehicle Charging Wars
Ford’s Battery Joint Venture to Get $9.2 Billion Government Loan
Ford Motor and its battery manufacturing partner will receive a $9.2 billion loan to build three battery factories in Kentucky and Tennessee, the Department of Energy said Thursday. The loan is the single biggest financial commitment the Biden administration has made in its effort to build an electric vehicle manufacturing network in the United States.… Continue reading Ford’s Battery Joint Venture to Get $9.2 Billion Government Loan
Tesla’s Profit Rose in the Second Quarter as Price Cuts Spurred Demand
Tesla reported a rise in profit for the second quarter after the company led by Elon Musk cut prices in response to increased competition and higher borrowing costs for car buyers. The company said on Wednesday that it earned $2.7 billion from April through June, compared with $2.5 billion in the first quarter of this… Continue reading Tesla’s Profit Rose in the Second Quarter as Price Cuts Spurred Demand
Carvana, Used Car Dealer, Reaches Deal to Restructure Debt
Carvana, the troubled used car retailer, announced on Wednesday that it had reached a debt restructuring agreement with most of its bondholders in an effort to lower interest payments over at least the next two years and put its business on more solid financial footing. The once fast-growing company, which sells cars online and at… Continue reading Carvana, Used Car Dealer, Reaches Deal to Restructure Debt