CLOSE Electric-truck maker Lordstown Motors is becoming a publicly traded company in a deal that will add $675 million to its coffers and boost its valuation to $1.6 billion, the company announced Monday. This transaction includes a $500 million fully committed private investment in public equity (PIPE), which includes $75 million of investments by General… Continue reading GM invests in Lordstown Motors merger that will make it publicly traded
Author: Detroit Free Press Online
Ford’s plan to defer government loan payments a ‘concerning sign’
CLOSE For Ford Bronco fans it has been a long wait to see a new Ford Bronco model. The wait is finally over as Ford reveals the 2021 Ford Bronco and Bronco Sport. Wochit Ford Motor Co. confirmed Friday that it sought and won permission from the U.S. Department of Energy to defer debt payments… Continue reading Ford’s plan to defer government loan payments a ‘concerning sign’
GM makes huge effort to increase fast-charging stations for electric vehicles
CLOSE General Motors wants people in battery electric vehicles and to make that more appealing, the automaker will start setting up thousands of fast-charging stations in the parking lots and public spaces across U.S. cities and suburbs. GM has partnered with EVgo, the largest public fast-charging network for electric vehicles, to triple the size of the U.S.’ public… Continue reading GM makes huge effort to increase fast-charging stations for electric vehicles
Fiat Chrysler lost $1.24B in 2nd quarter of 2020
CLOSE Things can always be worse. That’s one way to look at the earnings reports for Fiat Chrysler Automobiles and other automakers in the midst of a global downturn brought on by the coronavirus pandemic. The question on Friday was how bad things would get for FCA, the last of the Detroit Three to announce… Continue reading Fiat Chrysler lost $1.24B in 2nd quarter of 2020
They used to be auto execs. Now their lives in Michigan are completely different
CLOSE Following a surprisingly unceremonious departure from Ford Motor Co. in February, former top executive Joe Hinrichs just wanted a year off. He started exercising and shed 17 pounds. He’s become an avid gardener and on just about any morning, you’re likely to find him speed-walking with his wife, Maria, or enjoying summer at his lake house in Indiana. The 53-year-old had spent nearly two decades at… Continue reading They used to be auto execs. Now their lives in Michigan are completely different
Fiat Chrysler salaried workers back at full pay
CLOSE Fiat Chrysler Automobiles has restored full pay for its salaried workforce. Unlike General Motors, which announced its own restoration of full pay for salaried workers, the move was not earlier than expected, according to FCA, but was in the planned time frame for addressing the financial impact of the coronavirus. Ford had announced a similar plan beginning in May… Continue reading Fiat Chrysler salaried workers back at full pay
Ford’s surprise: $1.9 billion earnings loss is good news
CLOSE A look at the very first year of the Ford Bronco in this 1966 commercial ‘A Breed Apart.’ Detroit Free Press Ford Motor Co. executives have warned for weeks that their second-quarter earnings report would be an epic disappointment for a company that emerged from 2019 weaker than expected financially, despite a healthy year for the industry. Then the… Continue reading Ford’s surprise: $1.9 billion earnings loss is good news
Let’s not get righteous over preventing child deaths in hot cars
CLOSE When I began writing about the disturbing rise in pedestrian fatalities a couple of years ago, I was struck by the reaction the stories generated. Many readers, seeing a worsening crisis of loss and despair in fatality numbers that are hard to comprehend, were pleased that the issue was getting attention. Others? Not so… Continue reading Let’s not get righteous over preventing child deaths in hot cars
Experts: These are the safest, most reliable used cars for under $20K
CLOSE Popular sedan’s looks, materials improve; voice recognition, controls don’t. Jennifer Stockburger, a mother of two children, worries about the safety of her 16-year-old son who just started driving with a learner’s permit. “Yikes,” she said. “When you’ve got a young driver, it’s worrisome enough because you’ve got this struggle. They have a higher propensity… Continue reading Experts: These are the safest, most reliable used cars for under $20K
GMC drops hints about electric Hummer pickup with help from LeBron James
CLOSE GMC will reveal details of its eagerly awaited Hummer electric sport truck later this year, including features like ‘crab mode’ and ‘adrenaline mode.’ Detroit Free Press GMC will reveal details of its eagerly awaited Hummer electric sport truck later this year, when the 1,000 horsepower four-door pickup is officially unveiled, but the automaker dropped hints… Continue reading GMC drops hints about electric Hummer pickup with help from LeBron James