General Motors Co. and Stellantis NV are joining five other automakers to create a joint venture focused on beating Tesla Inc. as the leading high-powered electric-vehicle charging network in North America. The collaboration that also includes BMW AG, Honda Motor Co. Ltd., Hyundai Motor Co., Kia Corp. and the Mercedes-Benz Group seeks to install at… Continue reading GM, Stellantis, 5 other automakers partner to beat Tesla with DC charging network
Author: Detroit News Online
Car buyers bear a heavy burden as Federal Reserve keeps raising rates: Auto-loan rejections are up
New York – The Federal Reserve’s decision Wednesday to raise its benchmark rate for the 11th time, by a quarter-point, could once again send ripple effects across the economy. Mortgage rates, which have surged since the Fed began lifting rates in March 2022, may now rise further. So could rates on credit cards and some… Continue reading Car buyers bear a heavy burden as Federal Reserve keeps raising rates: Auto-loan rejections are up
Stellantis posts record $12.1B net profit in first half of 2023
The maker of Chrysler, Dodge, Jeep and Ram vehicles early Wednesday reported record financial results for the first half of 2023, boosted by improved shipments of microchip deliveries compared to 2022. Stellantis NV reported a record $12.1 billion (10.9 billion euro) net profit, up 37% year-over-year for the first six months, on a best-ever $109… Continue reading Stellantis posts record $12.1B net profit in first half of 2023
Jim Farley to meet with Michigan lawmakers Wednesday on Capitol Hill
This content is only available to subscribers. Get unlimited digital access. $1 for the rest of the year. Subscribe Now Your subscription supports: Trusted, up-to-date local Detroit and Michigan-wide breaking news. Accurate, fact-based journalism without an agenda, so you get the information you need to make informed decisions. Complete coverage and commentary on Michigan politics… Continue reading Jim Farley to meet with Michigan lawmakers Wednesday on Capitol Hill
Detroit auto show to include product reveals from GM, Ford, Stellantis
The Detroit auto show circus is back this September for its second annual fall exhibit under Huntington Place’s big tent, and Detroit automakers say they will be bringing big acts. Ford Motor Co., General Motors Co. and Stellantis NV confirmed this week they will each unveil new vehicles for a total of six reveals during… Continue reading Detroit auto show to include product reveals from GM, Ford, Stellantis
Bollinger Motors gets $3M grant to expand Michigan facilities, add jobs
Oak Park-based electric commercial vehicle company Bollinger Motors Inc. has been awarded $3 million from the state in support of its plan to add up to 237 new jobs and invest $44 million in its Oak Park and Livonia facilities. The Michigan Strategic Fund board approved a Michigan Business Development Program performance-based grant for the… Continue reading Bollinger Motors gets $3M grant to expand Michigan facilities, add jobs
GM’s EV ramp-up affected by automation supplier delays
General Motors Co. is experiencing issues with automation supply for battery module production, which is slowing its electric vehicle production ramp-up, executives told investors. CEO Mary Barra said Tuesday that the automaker has experienced “unexpected delays” because an unnamed automation equipment supplier has struggled with “delivery issues that are constraining module assembly capacity.” The hiccup… Continue reading GM’s EV ramp-up affected by automation supplier delays
Leather-seat maker for car companies targeted in widening probe
This content is only available to subscribers. Get unlimited digital access. $1 for the rest of the year. Subscribe Now Your subscription supports: Trusted, up-to-date local Detroit and Michigan-wide breaking news. Accurate, fact-based journalism without an agenda, so you get the information you need to make informed decisions. Complete coverage and commentary on Michigan politics… Continue reading Leather-seat maker for car companies targeted in widening probe
New Chevy Bolt on the way, GM’s Barra says
The Chevrolet Bolt isn’t going away after all. During a second-quarter earnings call Tuesday, General Motors Co. CEO Mary Barra announced the coming of a next-generation Bolt — a lower-priced electric vehicle that GM previously planned to stop producing later this year. “Our customers love today’s Bolt. It has been delivering record sales and some… Continue reading New Chevy Bolt on the way, GM’s Barra says
Stellantis, Samsung SDI will team to build a second EV battery plant in United States
Stellantis NV’s third battery manufacturing plant in North America will be built with Korean battery partner Samsung SDI in the United States, the companies said Monday. The exact location of the second plant under the existing StarPlus Energy joint venture wasn’t disclosed with the announcement of a signed memorandum of understanding, whose execution is subject… Continue reading Stellantis, Samsung SDI will team to build a second EV battery plant in United States