General Motors has idled its factory in Canada that builds electric delivery vans for its subsidiary BrightDrop due to a parts shortage. On Wednesday, GM said its CAMI Assembly plant in Ingersol, Canada, will remain shut down until the end of the month. GM makes its Zevo 600 electric delivery van, which resembles the big… Continue reading GM shuts down EV production at CAMI Assembly plant in Canada due to parts shortage
Category: US Motoring Press
Threat to Ford Kansas City Assembly Plant that builds F-150 leads to evacuation, shutdown
Multiple law enforcement agencies, including the FBI, found no active threat at the Ford Kansas City Assembly Plant in Claycomo, Missouri, after hours of security sweeps in response to an anonymous call, the Clay County Sheriff’s Department said Wednesday. “The situation began at around 5:20 p.m. Tuesday when a phone call came into Ford’s safety… Continue reading Threat to Ford Kansas City Assembly Plant that builds F-150 leads to evacuation, shutdown
New GM website gives employees a peek into UAW negotiations
In an effort to shed the secrecy surrounding past UAW contract talks, General Motors is a taking a different, more transparent approach to the process by launching a website to deliver the latest bargaining developments to the automaker’s salaried and hourly global workforce — as well as to the public. This comes as UAW President… Continue reading New GM website gives employees a peek into UAW negotiations
Tesla’s Profit Rose in the Second Quarter as Price Cuts Spurred Demand
Tesla reported a rise in profit for the second quarter after the company led by Elon Musk cut prices in response to increased competition and higher borrowing costs for car buyers. The company said on Wednesday that it earned $2.7 billion from April through June, compared with $2.5 billion in the first quarter of this… Continue reading Tesla’s Profit Rose in the Second Quarter as Price Cuts Spurred Demand
Carvana, Used Car Dealer, Reaches Deal to Restructure Debt
Carvana, the troubled used car retailer, announced on Wednesday that it had reached a debt restructuring agreement with most of its bondholders in an effort to lower interest payments over at least the next two years and put its business on more solid financial footing. The once fast-growing company, which sells cars online and at… Continue reading Carvana, Used Car Dealer, Reaches Deal to Restructure Debt
Tesla books record revenue of $24.9 billion with margin declining after price cuts
Chief Executive Officer of SpaceX and Tesla and owner of Twitter, Elon Musk attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre on June 16, 2023 in Paris, France. Chesnot | Getty Images Tesla reported earnings after the bell, showing a record for quarterly revenue but lower… Continue reading Tesla books record revenue of $24.9 billion with margin declining after price cuts
India’s Tata Group to build $5 billion gigafactory in the UK
A Tata Motors concept EV on show at the India Auto Expo 2023 on Jan. 12, 2023. Anindito Mukherjee | Bloomberg | Getty Images The Tata Group will develop a major facility for the production of electric car batteries in the U.K., with the Indian conglomerate set to invest more than £4 billion (around $5.17… Continue reading India’s Tata Group to build $5 billion gigafactory in the UK
Carvana shares jump 40% on deal to reduce debt by $1.2 billion
A Carvana glass tower sits illuminated in Oak Brook, Illinois, Feb. 23, 2022. Armando L. Sanchez | Tribune News Service | Getty Images Carvana has reached a debt restructuring agreement that will reduce the used car retailer’s total debt outstanding by more than $1.2 billion, the company said Wednesday. Carvana said the agreement will eliminate… Continue reading Carvana shares jump 40% on deal to reduce debt by $1.2 billion
UAW’s Shawn Fain meets with President Joe Biden in White House
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 UAW’s Shawn Fain meets with President Joe Biden in White House
GM’s CAMI Assembly production affected by parts availability issue
GM’s CAMI Assembly production affected by parts availability issue News Sports Autos Business Michigan Life + Home Entertainment Opinion Obituaries General Motors Co. is keeping its CAMI Assembly plant in Ontario down this week and next week due to a supply chain issue, the company confirmed Wednesday. Production of BrightDrop electric vans will resume July… Continue reading GM’s CAMI Assembly production affected by parts availability issue