Seven major automakers say they’re joining forces to build a North American electric vehicle charging network that would rival Tesla’s and nearly double the number of fast-charging plugs in the U.S. and Canada. General Motors, BMW, Honda, Hyundai, Kia, Mercedes and Stellantis said Wednesday that they will share in a multibillion-dollar investment to build “high… Continue reading GM, BMW, Honda, Hyundai, Kia, Mercedes and Stellantis to build EV charging network
Category: US Motoring Press
G.M. and Other Automakers Will Build 30,000 Electric Vehicle Chargers
Seven major automakers announced a plan on Wednesday to nearly double the number of fast chargers in the United States in an effort to address one of the main reasons that people hesitate to buy electric cars. The carmakers — BMW Group, General Motors, Honda, Hyundai, Kia, Mercedes-Benz Group and Stellantis — will initially invest… Continue reading G.M. and Other Automakers Will Build 30,000 Electric Vehicle Chargers
A Times Energy Reporter Hunts for Power Sources
“The truck is the battery,” John Reigard said, a hint of pride in his voice. The family purchased the F-150 Lightning just over a year ago, and they have lost power several times since: at Christmastime, after family members had arrived for the holidays; during a late winter storm in March; and on a summer… Continue reading A Times Energy Reporter Hunts for Power Sources
Tesla under investigation by California attorney general over Autopilot safety, marketing
Elon Musk, Tesla boss, runs to a Tesla at the Tesla Gigafactory construction site. In Grünheide near Berlin, a maximum of 500,000 vehicles per year are to roll off the assembly line starting in July 2021. Julian Stahle | picture alliance | Getty Images The California attorney general’s office is investigating Tesla, seeking information from… Continue reading Tesla under investigation by California attorney general over Autopilot safety, marketing
Volkswagen buys stake in Xpeng, will jointly develop two new EVs with the Chinese automaker
Volkswagen and Xpeng will jointly develop two new VW-brand EVs for China based on Xpeng’s electric G9. Chen Dongqiu | Visual China Group | Getty Images Volkswagen said Wednesday that it has signed a deal to jointly develop two new electric vehicles for China with Chinese EV maker Xpeng. As part of the deal, Volkswagen… Continue reading Volkswagen buys stake in Xpeng, will jointly develop two new EVs with the Chinese automaker
New, used EV prices have dropped, but don’t rush to buy: ‘It’s not a consumer-friendly market,’ analyst says
Sean Gallup | Getty Images News | Getty Images Prices for both used and new electric vehicles have dropped substantially from a year ago. But don’t rush to buy: Costs are still relatively high. “It’s not a consumer-friendly market right now,” said Joseph Yoon, a consumer insight analyst for car shopping guide Edmunds. related investing news… Continue reading New, used EV prices have dropped, but don’t rush to buy: ‘It’s not a consumer-friendly market,’ analyst says
Jeep, Dodge maker Stellantis posts first-half revenue jump, confirms 2023 guidance
Scott Mlyn | CNBC Carmaker Stellantis on Wednesday posted a 12% year-on-year jump in net revenues and 37% spike in net profit for the first half of 2023, boosted by higher shipments. The manufacturer of Jeep, Dodge, Peugeot and other brands recorded second-quarter net revenues of 98.4 billion euros ($108.8 billion) and a net profit of 10.9… Continue reading Jeep, Dodge maker Stellantis posts first-half revenue jump, confirms 2023 guidance
GM, Stellantis, 5 other automakers partner to beat Tesla with DC charging network
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
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