Author: Detroit News Online

EV company with almost no revenue posts 3,000% gain in 8 months

There is nothing about the finances of Blink Charging Co. that would suggest it’s one of the hottest stocks in America. It’s never posted an annual profit in its 11-year history; it warned last year it could go bankrupt; it’s losing market share, pulls in anemic revenue and has churned through management in recent years.… Continue reading EV company with almost no revenue posts 3,000% gain in 8 months

Fuel-cell truck startup Hyzon agrees to merge with decarbonization plus SPAC

Hyzon Motors Inc., a fuel cell truck startup, has agreed to go public via a merger with Decarbonization Plus Acquisition Corp., according to people with knowledge of the matter. The special purpose acquisition company has held discussions about raising new equity to support the transaction that values the combined entity at more than $2 billion,… Continue reading Fuel-cell truck startup Hyzon agrees to merge with decarbonization plus SPAC

Ford says agencies have ended mileage, pollution test probes

Detroit – The U.S. Justice Department and state of California have ended investigations into Ford Motor Co.’s gas mileage and emissions certification processes. Ford says in its annual report filed with the Securities and Exchange Commission on Friday that the DOJ and the California Air Resources Board told the company they don’t intend to take… Continue reading Ford says agencies have ended mileage, pollution test probes

GM investing $75 million to increase truck transmission production

Detroit — General Motors Co. is investing $75 million at its transmission plant in Toledo, Ohio, to increase production of 10-speed automatic transmissions for profit-rich trucks.  The automaker plans to field 30 EVs by 2025 and an emissions-free lineup by 2035. But GM isn’t backing down now on supplying its Chevrolet Silverado and GMC Sierra pickups to… Continue reading GM investing $75 million to increase truck transmission production

Ford, Google form ‘strategic partnership’ on cloud services, Android operating system

Ford Motor Co. and Google on Monday said they have formed a six-year “strategic partnership” under which the automaker will introduce the Android operating system into millions of vehicles and use Google technology for everything from in-vehicle connected services to manufacturing processes. Ford will designate Google as its preferred cloud provider, allowing the Blue Oval “to leverage… Continue reading Ford, Google form ‘strategic partnership’ on cloud services, Android operating system

New electric truck maker to finish first prototypes in March

Lordstown, Ohio – A fledgling electric vehicle maker in Ohio expects to complete the prototypes of its new pickup truck in March and remains on target to start full production in the fall, the company said Thursday. Lordstown Motors Corp. said it already has begun metal stamping and welding for the Endurance All-Electric Pickup Truck… Continue reading New electric truck maker to finish first prototypes in March

Musk’s finance chief quietly tallies profit surge at Tesla

Tesla Inc. is widely expected to report its sixth consecutive quarterly profit Wednesday — and potentially its first $1-billion quarter. That follows a remarkable year when Tesla’s stock split and skyrocketed, the company joined the S&P 500 Index and it sold almost half a million cars. Two years ago, the world’s leading electric carmaker was… Continue reading Musk’s finance chief quietly tallies profit surge at Tesla

In latest leadership shakeup, Ford announces new head of design

Ford Motor Co. said Monday that its global design lead will retire, to be replaced by an automotive industry veteran who most recently worked for French automaker Groupe Renault SA. Moray Callum, whom the Blue Oval described in a news release as one of the industry’s “most influential design leaders,” will retire as the company’s… Continue reading In latest leadership shakeup, Ford announces new head of design