Tesla has released its Q2 2020 safety report showing a strong year-over-year improvement in Autopilot accidents, but a small regression quarter-over-quarter. Since 2018, Tesla has been trying to create a benchmark for its improvement in Autopilot safety by releasing a quarterly report that compares the number of miles per accident on Autopilot versus off Autopilot.… Continue reading Tesla releases Q2 2020 safety report: strong year-over-year improvement in Autopilot accidents
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Tesla (TSLA) secures $780 million in bonds at cheaper levels than initially anticipated
Tesla (TSLA) managed to secure $780 million in bonds against its auto leases and got cheaper levels than initially anticipated, thanks to high investor demand. Even though Tesla ended the last quarter with a record cash position of $8.5 billion, the automaker is always looking for cheap ways to improve its financial position. Borrowing through… Continue reading Tesla (TSLA) secures $780 million in bonds at cheaper levels than initially anticipated
Detroit Three signal cautious optimism for second half of 2020
Detroit’s three automakers are cautiously optimistic for the next six months after second-quarter earnings took a beating because of the coronavirus. Performance predictions hinge on specific conditions, but other actions signal a brighter future. “We expect a much, much better second half,” Fiat Chrysler Automobiles NV CEO Mike Manley said Friday during a conference call after the… Continue reading Detroit Three signal cautious optimism for second half of 2020
Electric pickups a possibility, FCA CEO says, as it updates product plans
Fiat Chrysler Automobiles NV could electrify its Ram trucks if they face deteriorating market share, CEO Mike Manley said Friday, as he provided updates on product launch plans that faced delays due to the coronavirus pandemic. The Italian American automaker has said it will electrify its profit-heavy Jeep brand by 2022, but overall it has been… Continue reading Electric pickups a possibility, FCA CEO says, as it updates product plans
Ford takes $1.9 billion hit in second quarter, but that’s far better than expected
Dearborn — Ford Motor Co. took a $1.9 billion hit to its pretax earnings during the second quarter — far better than the $5 billion the automaker had warned it might lose during the eight-week pandemic shutdown. But by recording a one-time $3.5 billion gain on its investment with self-driving software Argo AI, the automaker managed to post an overall… Continue reading Ford takes $1.9 billion hit in second quarter, but that’s far better than expected
GM, EVgo to install 2,700 electric-vehicle charging stations
Detroit — General Motors Co. and EVgo, a public electric-vehicle charging network, are joining forces to add 2,700 electric-vehicle fast-chargers to the network to spur adoption of the vehicles across the U.S. The installation, which will take place in the next five years, will triple the size of EVgo’s charging network with charging stations being added in 40… Continue reading GM, EVgo to install 2,700 electric-vehicle charging stations
Auto Trader drives into automated finance with AutoConvert acquisition
Auto Trader is pushing further into providing automated finance for dealers with the purchase of AutoConvert. AutoConvert is a finance, insurance and compliance software platform with integrated customer relationship management solutions. The business helps dealers increase finance penetration and to reduce costs by automating the full customer journey for the automotive sector. AutoConvert’s customers include… Continue reading Auto Trader drives into automated finance with AutoConvert acquisition
GM to fund expansion of EVgo fast-charging network for electric cars
General Motors announced Friday that it would partner with the EVgo charging network to add an additional 2,700 fast-charging stations by 2025. The announcement comes a week before it unveils the 2022 Cadillac Lyriq electric luxury SUV, the first of up to a dozen new battery-electric vehicles it says it will offer in North America… Continue reading GM to fund expansion of EVgo fast-charging network for electric cars
Mexico’s Alfa to spin off rest of Nemak stake, shares surge
MEXICO CITY (Reuters) – Mexico’s Alfa (ALFAA.MX) said on Friday it plans to spin off the entirety of its remaining 75% stake in auto parts business Nemak (NEMAKA.MX), sending Alfa’s shares surging 17% on the prospect that the conglomerate could shrug off the struggling unit. FILE PHOTO: The logo of Nemak, a Mexico-based holding company… Continue reading Mexico’s Alfa to spin off rest of Nemak stake, shares surge
You’ve Never Seen Sneakers That Can Stand up to This Type of Abuse
Indestructible Shoes have revolutionized the shoe industry over the last few years, changing the way people think about athletic and safety footwear. But if you don’t own a pair yet, or if you do, and you’d like an excuse to buy another pair, you’re in luck. Because Indestructible Shoes just released a trio of new… Continue reading You’ve Never Seen Sneakers That Can Stand up to This Type of Abuse