Detroit — New allegations that Fiat Chrysler Automobiles NV executives bribed United Auto Workers officials with tens of millions of dollars stashed in secret offshore bank accounts is “too speculative” and do not warrant reinstating a federal lawsuit, a judge said Friday. U.S. District Judge Paul Borman issued the order one week after General Motors Co. leveled… Continue reading Judge refuses to revive GM racketeering suit vs. FCA
Author: Detroit News Online
Hyperion says it’s developed a hydrogen-powered supercar, now it needs money
With little more than sketches and not fully baked prototypes, a crowd of electric vehicle startups have rounded up billions from investors. Can that fund-raising engine drive a hydrogen-powered car? Hyperion Companies Inc., a decade-old Los Angeles outfit, is entering the race for speculative transportation capital today when it pulls the cover off a supercar… Continue reading Hyperion says it’s developed a hydrogen-powered supercar, now it needs money
GM to hand off ventilator production to Ventec
Detroit — General Motors Co. plans to hand off control of its ventilator production to its partner on the project, Ventec Life Systems. GM and Ventec have so far delivered more than 20,000 ventilators to the U.S. Strategic National Stockpile for the U.S. Department of Health and Human Services and they are on track to complete a federal government… Continue reading GM to hand off ventilator production to Ventec
Ford recalls midsize SUVs to fix possible brake fluid leaks
Ford is recalling more than 558,000 midsize SUVs in North America because the brakes may not work properly. The recall covers certain 2015 through 2018 Ford Edge and 2016 through 2018 Lincoln MKX vehicles. Ford said Wednesday that some front brake hoses can rupture, causing brake fluid to leak. If too much fluid leaks, it… Continue reading Ford recalls midsize SUVs to fix possible brake fluid leaks
Ford’s Farley rode iconic Ford brands, customer needs to CEO’s office
Jim Farley rose through the ranks to become Ford Motor Co.’s next CEO by understanding what the customer wants, leveraging the Blue Oval’s icons and learning from the successes of others, industry observers say. Farley, 58, will replace CEO Jim Hackett on Oct. 1, the company confirmed Tuesday, returning Ford’s top job to an industry veteran schooled at Toyota Motor… Continue reading Ford’s Farley rode iconic Ford brands, customer needs to CEO’s office
Fiat Chrysler to recall vehicles that may pollute too much
Tom Krisher, Associated Press Published 4:39 p.m. ET Aug. 5, 2020 Detroit – About 1 million Fiat Chrysler vehicles with four-cylinder engines in the U.S. may spew too much pollution, and the company is working with government officials on a recall. Fiat Chrysler says in a quarterly filing with securities regulators that it found the… Continue reading Fiat Chrysler to recall vehicles that may pollute too much
Ford’s Farley to replace Hackett as CEO, focusing on growth, acceleration
Ford Motor Co.’s Jim Farley will replace Jim Hackett as CEO on Oct. 1, capping a leadership transition that was telegraphed in February by Farley’s promotion to chief operating officer amid chronic dissatisfaction with performance of Ford shares. The 58-year-old Farley — an auto industry veteran with a background in marketing and an eye on the… Continue reading Ford’s Farley to replace Hackett as CEO, focusing on growth, acceleration
Honda recalls 1.6M vans and SUVs in 4 different US recalls
Associated Press Published 9:19 a.m. ET Aug. 4, 2020 | Updated 10:04 a.m. ET Aug. 4, 2020 Detroit – Honda is recalling over 1.6 million minivans and SUVs in the U.S. to fix problems that include faulty backup camera displays, malfunctioning dashboard displays and sliding doors that don’t latch properly. The problems were revealed in… Continue reading Honda recalls 1.6M vans and SUVs in 4 different US recalls
Lordstown Motors to merge with acquisition company, go public
Detroit — Electric vehicle startup Lordstown Motors Corp. and DiamondPeak Holdings Corp. have entered into a $1.6 billion merger agreement that will result in Lordstown becoming publicly listed, the two companies said Monday. Lordstown’s merger with the special purpose acquisition company is viewed as a way to aid in the development of Lordstown’s all-electric pickup truck, the Endurance, which was unveiled… Continue reading Lordstown Motors to merge with acquisition company, go public
Ferrari expects at least 1 billion euros profit in 2020
Daniele Lepido, Bloomberg Published 9:53 a.m. ET Aug. 3, 2020 | Updated 10:02 a.m. ET Aug. 3, 2020 Ferrari NV narrowed the range of its full-year profit guidance toward the lower end after the supercar-maker was forced to shutter factories for seven weeks because of the coronavirus pandemic. Ferrari, controlled by the Agnelli family’s investment… Continue reading Ferrari expects at least 1 billion euros profit in 2020