VW’s electrification plans put it in direct competition with companies like Elon Musk’s Tesla. Go to Source
Author: CNBC Online news
States are spending billions on electric vehicles in battle to replace automotive capital Michigan
States are offering billions in incentives to get EV plants from carmakers including Ford and Rivian, and threatening Michigan’s role as the US auto capital. Go to Source
GM reports worst sales in China since onset of Covid-19 lockdowns
The Detroit automaker said it only sold 484,200 vehicles during the second quarter in China, its largest market globally. Go to Source
Toyota hits electric-vehicle sales milestone, joins Tesla and GM in triggering phaseout of tax incentives for buyers
The phaseout of the credit for Toyota customers is expected to be complete in October 2023, the company said Wednesday. The phaseout will begin Oct. 1. Go to Source
Rivian confirms it’s on track to build 25,000 electric vehicles this year
Rivian said it delivered more than 4,000 EVs in the second quarter and still expects to build 25,000 this year. Go to Source
VW and Goldman-backed battery maker Northvolt gets $1.1 billion funding injection
Northvolt’s CEO and co-founder, Peter Carlsson is bullish about the future. Go to Source
Luxury car buyers shell out more than ever with ‘car payments that look more like mortgage payments’
The share of new car buyers with a monthly payment of more than $1,000 jumped to a record high, according to Edmunds. Go to Source
Ford reports slight uptick in quarterly sales that misses analysts’ expectations
Ford on Tuesday reported a 1.8% uptick in second-quarter sales compared with a year earlier, including a 31.5% increase in June. Go to Source
Tesla delivered 254,695 electric vehicles in the second quarter of 2022
Tesla just posted its second-quarter vehicle production and delivery numbers for 2022. Go to Source
Self-driving cars from GM’s Cruise block San Francisco intersection in latest problem for autonomous vehicles
At least seven Cruise vehicles blocked traffic by clustering an intersection starting late Tuesday night, blocking traffic. Go to Source