Wall Street was not impressed with General Motors even though the automaker posted big gains in second quarter profits, making it one of GM’s strongest quarterly earnings results, and explained that its slow ramp up of electric vehicle production is the fault of an automation equipment supplier. Tuesday morning, GM’s stock price opened at $37.73… Continue reading Wall Street hits hold on GM stock amid concerns about EV roll out, UAW talks
Category: US Motoring Press
Freighter carrying nearly 3,000 cars catches fire in the North Sea, killing crew member
THE HAGUE, Netherlands — A fire on a freight ship carrying nearly 3,000 cars was burning out of control Wednesday in the North Sea, killing one crew member and injuring others, the Dutch coast guard said. The agency said it was working to save the vessel from sinking close to an important habitat for migratory… Continue reading Freighter carrying nearly 3,000 cars catches fire in the North Sea, killing crew member
Congress urged to help get more self-driving vehicles on US roads
Advocates for auto companies and consumer technology firms on Wednesday urged a congressional subcommittee to adopt legislation to advance the development of self-driving cars, saying the U.S. will fall behind competitors, especially China, if the federal government doesn’t take steps in support of fully autonomous vehicles. John Bozzella, president and CEO of the Alliance for… Continue reading Congress urged to help get more self-driving vehicles on US roads
Stellantis CEO Tavares says he wants to protect profit-sharing checks during UAW talks
Those healthy profit-sharing checks that UAW-represented Stellantis workers received earlier this year loomed large as CEO Carlos Tavares was asked Wednesday about contract talks between the union and automaker. Tavares, addressing reporters and then analysts in separate calls following the release of the company’s latest earnings report where it notched an impressive $12 billion in… Continue reading Stellantis CEO Tavares says he wants to protect profit-sharing checks during UAW talks
GM, BMW, Honda, Hyundai, Kia, Mercedes and Stellantis to build EV charging network
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
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