Author: Detroit News Online

FCA CEO Mike Manley will not be on Stellantis board after merger with PSA

Fiat Chrysler Automobiles NV and merger partner Groupe PSA on Tuesday named the 11 members to their combined board as Stellantis, and FCA CEO Mike Manley was not among them. Despite the merger’s 50-50 stock split, Paris-based PSA is naming six of the board members compared to FCA’s five. All are subject to shareholder approval. Only two current… Continue reading FCA CEO Mike Manley will not be on Stellantis board after merger with PSA

Tesla aims to mine its own lithium after dropping M&A plan

Tesla Inc. secured its own lithium mining rights in Nevada after dropping a plan to buy a company there, according to people familiar with the matter. The automaker held discussions in recent months with Cypress Development Corp., which is seeking to extract lithium from clay deposits in southwest Nevada, but the parties didn’t reach a… Continue reading Tesla aims to mine its own lithium after dropping M&A plan

Cadillac dealers must invest $200K each for brand’s EV future

Detroit — The push for an all-electric future will come with a cost for General Motors Co. dealers.  For Cadillac dealers that cost is estimated to be at $200,000 to transition dealerships for Cadillac’s electric vehicles beginning with the Lyriq crossover, the brand’s first all-electric vehicle hitting U.S. dealerships in late 2022 after debuting first in the China… Continue reading Cadillac dealers must invest $200K each for brand’s EV future

McLaren considers sale of global headquarters to raise cash

Luxury sports-car maker McLaren Automotive is considering a sale of its global headquarters as part of a refinancing strategy the company announced earlier this year. The U.K. company has also appointed banks to advise on a debt restructuring and equity raise to buttress its balance sheet, it said in a statement Thursday. The company has… Continue reading McLaren considers sale of global headquarters to raise cash

Canada’s Unifor picks Ford as lead in Detroit Three contract talks

Detroit — Ford Motor Co. of Canada has been selected as the lead company with which the Unifor labor union will bargain as they negotiate with Detroit’s three automakers on new contracts. Unifor will bargain with Ford to establish a pattern for the four-year contracts that expire at 11:59 p.m. Sept. 21. The union on Tuesday selected Ford out… Continue reading Canada’s Unifor picks Ford as lead in Detroit Three contract talks

How Lucid Motors plans to spin Tesla-killing strategy out of air

“Peter I’m working for this guy called Elon Musk, and we are in deep s–-.” That’s how the phone call from Tesla model manager Dave Morris to engineer Peter Rawlinson began in 2009, when Morris needed help working on the prototype for a new electric car. Eventually, he lured Rawlinson to work at Tesla Inc.,… Continue reading How Lucid Motors plans to spin Tesla-killing strategy out of air

Ford to cut 1,000 salaried jobs in U.S. amid overhaul

Ford Motor Co. is planning to eliminate 1,000 white-collar jobs in the United States by the end of the year, two sources close to the situation confirmed Tuesday, another step in its years-long, $11 billion restructuring. The reductions, to be achieved under a voluntary program, are not a reaction to the COVID-19 pandemic that interrupted… Continue reading Ford to cut 1,000 salaried jobs in U.S. amid overhaul

GM, Ford return-to-office dates months away

Detroit — It will be months before General Motors Co. and Ford Motor Co. send their salaried employees back to the office to work.  GM is planning to reevaluate in October if it’s possible to send employees back to its downtown Detroit offices. Ford pushed back to January its plans to bring employees back to its Dearborn headquarters. Fiat… Continue reading GM, Ford return-to-office dates months away

Chinese electric car brand NIO may export a battery-swapping service

Beijing – Chinese electric car brand NIO plans to start expanding to Western markets next year and might export a battery-swapping service that could help it compete with rival Tesla, the company’s chairman said Thursday. NIO, founded in 2014, pushed back foreign plans due to the coronavirus pandemic, William Li told reporters. He said the company… Continue reading Chinese electric car brand NIO may export a battery-swapping service