The maker of Jeep SUVs and Ram pickup trucks on Tuesday said it will become carbon neutral starting by 2038 and double its net revenues by 2030. The CEO of Stellantis NV, the merger between Fiat Chrysler Automobiles NV and French automaker Groupe PSA, laid out the company’s 2030 long-term strategy to achieve $335 billion (300… Continue reading Stellantis to be carbon neutral by 2038, double net revenues by 2030
Author: Detroit News Online
Ford suspends joint-venture operation in Russia
Ford Motor Co. has suspended its Russian joint venture operation amid the country’s continued invasion of Ukraine, the Dearborn automaker said Tuesday. “As part of the global community, Ford is deeply concerned about the invasion of Ukraine and the resultant threats to peace and stability,” the company said in a statement. “The situation has compelled us… Continue reading Ford suspends joint-venture operation in Russia
Cruise founder, ex-CEO to be permanent leader of self-driving company
Cruise LLC’s next chief executive officer will be Kyle Vogt, the former CEO who’s been acting as interim chief of the self-driving company since the abrupt departure of Dan Ammann. Vogt, 36, who is also a co-founder of Cruise, announced the “fun news” Monday on Twitter: “I have no doubt it will be a difficult challenge given… Continue reading Cruise founder, ex-CEO to be permanent leader of self-driving company
Ford recalls heavy-duty pickups; drive shafts can fracture
Detroit – Ford is recalling nearly a quarter-million heavy duty pickup trucks in the U.S. because the drive shafts can fracture and cause a loss of power. The recall covers certain F-250 and F-350 Super Duty pickups from the 2017 through 2022 model years. The trucks have gasoline engines and aluminum drive shafts. Ford says… Continue reading Ford recalls heavy-duty pickups; drive shafts can fracture
Auto parts supplier Tenneco being taken private in $7.1 billion deal
Automotive parts maker Tenneco is being taken private by funds managed by affiliates of private equity firm Apollo in an all-cash deal valued at about $7.1 billion. The transaction includes the assumption of Tenneco’s debt. Apollo will pay $20 per Tenneco Inc. share, double from Tenneco’s closing price Tuesday of $9.98. Tenneco will continue to… Continue reading Auto parts supplier Tenneco being taken private in $7.1 billion deal
Cummins buys Troy-based truck parts supplier Meritor for EV components
Cummins Inc. on Tuesday said it intends to acquire a Troy-based truck parts supplier to add axles and brakes for hybrid and electric powertrains to its portfolio in a $3.7 billion deal. Meritor Inc. shares surged more than 43% Tuesday, closing at $35.47 per share, while Cummins’ fell nearly 2% to $214.09. Go to Source
Cruise, GM seek NHTSA approval for commercial use of self-driving shuttle
General Motors Co. and Cruise LLC, the autonomous vehicle company it has a majority stake in, have filed an application with the National Highway Traffic Safety Administration to build and commercially deploy a self-driving shuttle. Rob Grant, Cruise’s senior vice president of government affairs and social impact, called the move “a big step toward our vision… Continue reading Cruise, GM seek NHTSA approval for commercial use of self-driving shuttle
Ford: ‘We have no plans’ for EV or ICE spinoff, but other options exist
Ford Motor Co. on Friday denied the possibility that it would spin off its electric-vehicle or traditional engine-based business in an effort to earn the investor enthusiasm that pure-play competitors have received. “We are focused on our Ford+ plan to transform the company and thrive in this new era of electric and connected vehicles,” spokesman Mark Truby said… Continue reading Ford: ‘We have no plans’ for EV or ICE spinoff, but other options exist
Nissan to build 2 new electric vehicles in Mississippi by 2025
Nissan Motor Co. will build two battery-electric vehicles for the U.S. market at a plant in Mississippi, marking the Japanese automaker’s deepest North America move to date in to a growing field of consumer EVs. The plug-in battery-powered models — one under the Nissan nameplate and one for Infiniti — will start production in 2025,… Continue reading Nissan to build 2 new electric vehicles in Mississippi by 2025
Stellantis to French employees: Here’s help finding jobs elsewhere
Cutting jobs in France is never easy. So Stellantis, the manufacturer of Peugeot cars and Jeep SUVs has come up with a novel way to slim down its payroll: It sends workers emails with tips on how to get exciting new jobs — elsewhere. Employees are routinely sent alerts on career fairs and services that… Continue reading Stellantis to French employees: Here’s help finding jobs elsewhere