The Lordstown Motors Corp. Endurance electric pickup truck is displayed during an unveiling event in Lordstown, Ohio, June 25, 2020. Matthew Hatcher | Bloomberg | Getty Images Struggling electric-truck maker Lordstown Motors filed for Chapter 11 bankruptcy protection Tuesday and said that it would put itself up for sale amid an ongoing dispute over investments… Continue reading Lordstown Motors files for bankruptcy, sues Foxconn over $170 million funding deal
Category: US Motoring Press
Ford conducts engineering layoffs in U.S. and Canada
Ford CEO Jim Farley at a battery lab for the automaker in suburban Detroit, announcing a new $3.5 billion electric vehicle battery plant in the state to produce lithium iron phosphate batteries, Feb. 13, 2023. Michael Wayland/CNBC DETROIT — Ford Motor confirmed Monday it will carry out layoffs this week, primarily affecting engineering jobs in… Continue reading Ford conducts engineering layoffs in U.S. and Canada
Auto group’s move pushes Tesla EV charger closer to becoming the industry standard
Detroit — A key U.S. automotive industry organization says it will set performance standards for Tesla’s electric vehicle charging cords in another move toward using the Tesla plug on all EVs. The move Tuesday by SAE International, formerly the Society of Automotive Engineers, comes just weeks after Ford, General Motors and Rivian said they would… Continue reading Auto group’s move pushes Tesla EV charger closer to becoming the industry standard
MEDC governing board extends deadlines for LG, Magna projects
The Michigan Strategic Fund board voted Tuesday to extend deadlines for two previously approved projects. The governing body of the Michigan Economic Development Corp. agreed to extend milestone deadlines for LG Energy Solution’s expansion of its Holland electric-vehicle battery plant, which was previously approved for a $10 million Michigan Business Development Program grant and a… Continue reading MEDC governing board extends deadlines for LG, Magna projects
Cox Automotive increases its 2023 new-vehicle sales forecast
Troy — Analysts at Cox Automotive are expecting a much brighter year for U.S. auto sales in 2023 with an improvement in fleet sales leading to expected sales of 15 million, up from the previous prediction of 14.1 million. The new forecast is an improvement from 2022’s dismal sales total of 14 million, which was… Continue reading Cox Automotive increases its 2023 new-vehicle sales forecast
Lordstown Motors files for Chapter 11 bankruptcy protection
Lordstown Motors shares plummeted after the electric-vehicle maker once hailed by President Donald Trump for saving automaking jobs filed for bankruptcy. Lordstown Motors shares plummeted after the electric-vehicle maker once hailed by U.S. President Donald Trump for saving automaking jobs filed for bankruptcy. The move to seek Chapter 11 protection from creditors follows a protracted… Continue reading Lordstown Motors files for Chapter 11 bankruptcy protection
Ex-Audi boss convicted of fraud in automaker’s diesel emissions scandal
Berlin — Former Audi boss Rupert Stadler was convicted of fraud Tuesday in connection with the automaker’s diesel emissions scandal, making him the highest-ranking executive found guilty over cars that cheated on emissions tests with the help of illegal software. A German court handed Stadler a suspended prison sentence of 21 months and ordered him… Continue reading Ex-Audi boss convicted of fraud in automaker’s diesel emissions scandal
Diesel owners due compensation, rules German federal court
Germany’s highest federal court has ruled that car makers must compensate owners of diesel cars equipped with illegal emission manipulation devices. The decision follows a protracted class-action lawsuit brought against Audi, Mercedes-Benz and Volkswagen by diesel car owners in Germany. The court’s decision overturned earlier dismissals by state courts, which referred diesel car owners’ claims… Continue reading Diesel owners due compensation, rules German federal court
Electric two-wheeler sales set to crash by 60 percent for June and hit a record one-year low
The Ministry of Heavy Industries’ recent reduction of the FAME II subsides from 40 percent to 15 percent is severely impacting India’s electric two-wheeler growth. The number is likely to plummet back to June 2022 levels of the 40,000 to 45,000 units range. This is the opinion of industry analysts and experts. The numbers seen… Continue reading Electric two-wheeler sales set to crash by 60 percent for June and hit a record one-year low
Electric two-wheeler sales set to crash by 60 percent for June and hit a record one-year low
The Ministry of Heavy Industries’ recent reduction of the FAME II subsides from 40 percent to 15 percent is severely impacting India’s electric two-wheeler growth. The number is likely to plummet back to June 2022 levels of the 40,000 to 45,000 units range. This is the opinion of industry analysts and experts. The numbers seen… Continue reading Electric two-wheeler sales set to crash by 60 percent for June and hit a record one-year low