Automakers are investing in towns across the American South. The new plants bring tax and workforce advantages as the industry moves toward EVs. Go to Source
Author: CNBC Online news
Transportation Department is losing top auto safety regulator after a few months on the job
U.S. Transportation Secretary Pete Buttigieg said Steve Cliff will be leaving his role as head of the National Highway Traffic Safety Administration Go to Source
Huawei’s second quarter revenue rises slightly from a year ago
Chinese telecommunications giant Huawei released figures Friday that showed its first quarterly increase in revenue since 2020. Go to Source
Rivian posts second-quarter revenue above estimates, but expects a wider loss for the year
Electric vehicle maker Rivian maintained its full-year guidance for deliveries, but trimmed its full-year financial outlook. Go to Source
GM reveals new GMC Canyon premium midsize pickup, starting at $40,000
GM expects to begin producing the 2023 Canyon early next year, with new AT4X off-road models beginning in spring. Go to Source
Airfares, hotel rates and rental car prices fell in July. Here’s how you can score a good deal
The price for major components of vacation travel have declined for two consecutive months, according to the U.S. Department of Labor’s Consumer Price Index. Go to Source
Ford CEO doesn’t expect electric vehicle battery costs to drop anytime soon
Ford CEO Jim Farley said the prices of key battery minerals will likely stay elevated for a while, but the company is looking into alternatives. Go to Source
How the EV tax credits in Democrats’ climate bill could hurt electric vehicle sales
Proposed tax credits of up to $7,500 for EVs under the Inflation Reduction Act could be counterintuitive for sales of EVs, according to several companies. Go to Source
Buying a car and want to go electric? Inflation Reduction Act extends $7,500 tax credit — but with price, income caps
Single buyers of electric vehicles would need to have income of less than $150,000 to qualify for the credit, and luxury models would largely be ineligible. Go to Source
Nikola CEO Mark Russell to retire at the end of the year
CEO Mark Russell will retire at the end of 2022. His successor is former Opel CEO Michael Lohscheller, who joined Nikola in February. Go to Source