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
Author: New York Times Online News
Rivian Lost $6.8 Billion Last Year as Production Fell Short
Rivian, a maker of electric trucks, said on Tuesday that it lost $1.7 billion in the final three months of last year as it struggled with production difficulties. The loss brings the company’s total losses for 2022 to $6.8 billion and highlights the troubles that once-promising start-ups are having gaining ground on Tesla, which dominates… Continue reading Rivian Lost $6.8 Billion Last Year as Production Fell Short
U.S. Eyes Trade Deals With Allies to Ease Clash Over Electric Car Subsidies
BENGALURU, India — The Biden administration hopes to reach limited free trade agreements with countries in Europe and Asia that would not require congressional approval as it looks to ease allies’ concerns about legislation that President Biden signed into law last year, Treasury Secretary Janet L. Yellen said on Friday. The law, known as the… Continue reading U.S. Eyes Trade Deals With Allies to Ease Clash Over Electric Car Subsidies
Canada Lands Volkswagen Battery Plant With Billions in Subsidies
Volkswagen’s first North American battery plant for electric vehicles will be built in Canada, and Prime Minister Justin Trudeau and other Canadian politicians made it clear on Friday that the country had effectively been in a bidding war with the United States. “We put up a lot of money,” Mr. Trudeau said at a news… Continue reading Canada Lands Volkswagen Battery Plant With Billions in Subsidies
LG Will Spend $5.5 Billion on a Battery Factory in Arizona
A South Korean battery manufacturer said it would quadruple its planned investment in a new factory in Arizona to meet growing demand from automakers that are trying to ramp up production of electric cars and trucks. The company, LG Energy Solution, said it would invest $5.5 billion to build the complex near Phoenix, where it… Continue reading LG Will Spend $5.5 Billion on a Battery Factory in Arizona
Falling Lithium Prices Are Making Electric Cars More Affordable
Lithium, the common ingredient in almost all electric-car batteries, has become so precious that it is often called white gold. But something surprising has happened recently: The metal’s price has fallen, helping to make electric vehicles more affordable. Since January, the price of lithium has dropped nearly 20 percent, according to Benchmark Minerals, even as… Continue reading Falling Lithium Prices Are Making Electric Cars More Affordable
Volkswagen Will Invest $193 Billion in Electric Cars and Software
Volkswagen said on Tuesday that it would spend $193 billion on software, battery factories and other investments as it aimed to make every fifth vehicle it sold electric by 2025. The automaker, the world’s second biggest after Toyota, will also focus on expanding its presence in North America, where it has struggled for years, and… Continue reading Volkswagen Will Invest $193 Billion in Electric Cars and Software
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