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

F1 Academy Picks Up Where the W Series Left Off

It has been 47 years since a woman drove in a Formula 1 Grand Prix, when Lella Lombardi of Italy finished 12th at the Austrian Grand Prix in 1976. In 2019, the all-female W Series started in an attempt to provide a way to get women behind the wheel, but it collapsed in June without… Continue reading F1 Academy Picks Up Where the W Series Left Off

United Auto Workers Open Contract Talks in Detroit

The three Detroit automakers and the United Auto Workers union have begun negotiating a new labor contract in what could become the most contentious talks between the two sides in perhaps half a century. The discussions, which formally started on Thursday, come as General Motors, Ford Motor and Stellantis have posted a long streak of… Continue reading United Auto Workers Open Contract Talks in Detroit

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

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

GM’s Electric Vehicles Will Use Tesla’s Charging Network

General Motors said on Thursday that it would adopt Tesla technology to charge its electric vehicles, including selling models that use the plugs pioneered by Tesla. The announcement, two weeks after Ford struck a comparable agreement, is likely to make Tesla’s plugs the industry standard and squeeze companies that are racing to build similar networks… Continue reading GM’s Electric Vehicles Will Use Tesla’s Charging Network