The company’s U.S. vehicle sales were down about 15% in the second quarter from a year ago as the automaker continues to battle supply chain issues. Go to Source
Author: CNBC Online news
GM warns of manufacturing issues in second quarter but stands by 2022 forecast
Shares of the automaker were down by 2% after briefly being halted during pre-market trading, pending news. Go to Source
Nikola still short of shareholder support to issue new stock – hampered by founder Trevor Milton
The company has spent the past month rallying shareholders to vote for the proposal in sufficient numbers to overcome objections from founder Trevor Milton. Go to Source
Tesla is cutting about 200 Autopilot jobs and closing office in San Mateo, California
Tesla is closing its San Mateo, California office, and laying off about 200 Autopilot data labelers amid a broader restructuring, Go to Source
New car quality declined sharply this year with supply chain problems, says J.D. Power
Buick, Dodge and Chevrolet topped the list while Volvo, Chrysler and Polestar landed in the bottom three. Go to Source
Chinese electric vehicle maker Li Auto to raise $2B from U.S. investors in a new stock offering
Li Auto is raising $2 billion via an “at-the-market” offering to fund new models and technologies Go to Source
Tencent wants to be foreign automakers’ go-to company for tech in China’s electric car market
Chinese internet giant Tencent wants to sell technology which the company says will help foreign automakers that want to sell cars in China’s EV market. Go to Source
Polestar becomes latest electric vehicle maker to go public via SPAC merger
Polestar’s SPAC deal has closed, and it now plans an aggressive global expansion. Go to Source
Ford CEO’s bold move to close a money-losing plant bodes well for long-term stock holders
We believe this change will be meaningful to long-term earnings, and it shows how Ford CEO Jim Farley is taking no prisoners on his drive to profitability. Go to Source
China’s electric vehicle battery supply chain shows signs of forced labor, report says
There are indications that Chinese companies that produce raw materials for EV batteries use forced labor, according to The New York Times. Go to Source