‘A really bad deal’: Michigan awards GM $1bn in incentives for new electric cars Automakers’ history of taking fat subsidies and overpromising job growth make some analysts skeptical of the deal An assembly line at General Motors’ plant in Detroit. Photograph: Mandel Ngan/AFP/Getty Images An assembly line at General Motors’ plant in Detroit. Photograph: Mandel… Continue reading ‘A really bad deal’: Michigan awards GM $1bn in incentives for new electric cars
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@niche: Veteran Electric Vehicle Executive Steve Ivsan Joins Xos, Inc. as Head of Program Management001669
LOS ANGELES, Feb. 24, 2022 (GLOBE NEWSWIRE) — Xos, Inc. (NASDAQ: XOS), a leading manufacturer of Class 5 through Class 8 battery-electric vehicles and powertrains, and provider of charging infrastructure and fleet management software, today announced Steve Ivsan has joined the company as Head of Program Management. Mr. Ivsan will be responsible for defining the… Continue reading @niche: Veteran Electric Vehicle Executive Steve Ivsan Joins Xos, Inc. as Head of Program Management001669
Singapore-based micromobility startup Beam secures $93M Series B, enters new markets
Beam, a Singaporean shared micromobility operator, announced today that it has raised $93 million in a Series B round to accelerate growth into new countries in Asia. The fresh capital, which brings its total funding raised to $135 million, was led by Affirma Capital, with participation from Sequoia Capital India, Hana Ventures, ICT Capital, EDB… Continue reading Singapore-based micromobility startup Beam secures $93M Series B, enters new markets
Carvana acquires Adesa US auction business for $2.2B to jump-start used car sales
Carvana, the online used car marketplace, has agreed to buy Kar Global’s Adesa U.S. auction subsidiary for $2.2 billion in cash, an acquisition aimed at adding another revenue stream as well as a network of physical sites that could help bolster operations. The acquisition announcement, which was made alongside a fourth-quarter earnings report, marks a transition… Continue reading Carvana acquires Adesa US auction business for $2.2B to jump-start used car sales
Carsome appoints ex-Grab exec to drive Thailand business
Carsome has onboarded Siwaphume Lertsansaran as its managing director in Thailand. Go to Source
Ex-Gojek exec’s auto financing startup sweeps $3m funding
Broom’s clients include more than 2,000 used-car dealerships in the Greater Jakarta area. Go to Source
Rivian ‘making progress’ on production ramp-up, sets market share goal
Rivian shares closed up 10.7%. By Ben Klayman DETROIT: Rivian Automotive is “making progress” in the increase of production of electric vehicles at its Normal, Illinois, assembly plant and is aiming to take 10% share in the EV market by 2030, Chief Executive R.J. Scaringe said on Thursday. “We’re absolutely making progress,” he said during… Continue reading Rivian ‘making progress’ on production ramp-up, sets market share goal
@Honda: Production, Sales and Export Results in January, 2022
Honda Motor Co., Ltd. today announced a summary of automobile production, Japan domestic sales, and export results for the month of January 2022. World Production Janurary 2022 YOY Japan 51,084 102.7% Outside of Japan 307,618 101.9% Total 358,702 102.0% Production in Main Regions North America 99,172 88.7% USA 64,841 89.1%… Continue reading @Honda: Production, Sales and Export Results in January, 2022
SEC opens investigation into Elon Musk over possible insider trading
Elon Musk isn’t about to catch a hoped-for break from the SEC any time soon. Sources for The Wall Street Journal claim the SEC is investigating whether Musk and his brother Kimbal violated insider trading regulations with recent share sales. Officials are concerned Elon might have told Kimbal he planned to ask Twitter followers about… Continue reading SEC opens investigation into Elon Musk over possible insider trading
Allison Transmission Announces an 11 Percent Increase to the Quarterly Dividend, a $1 Billion Increase to the Stock Repurchase Authorization and the Annual Stockholders Meeting and Record Date
INDIANAPOLIS–(BUSINESS WIRE)–Allison Transmission Holdings Inc. (NYSE: ALSN), a leading designer and manufacturer of conventional and electrified vehicle propulsion solutions and the largest global manufacturer of medium- and heavy-duty fully automatic transmissions for commercial and defense vehicles, announced today that its Board of Directors has approved an increase in the Company’s quarterly dividend from $0.19 to… Continue reading Allison Transmission Announces an 11 Percent Increase to the Quarterly Dividend, a $1 Billion Increase to the Stock Repurchase Authorization and the Annual Stockholders Meeting and Record Date