The electric vehicle revolution isn’t on its way. From where Kenny Anderson sits, it has already broken ground. “There’s no stopping it,” said Mr. Anderson, an advanced manufacturing operations lead at DPR Construction, a builder focused on factories like the mammoth battery plants powering this industrywide change. “Every couple of weeks, there’s a new multibillion-dollar… Continue reading Shift to Electric Cars Gives Design Centers a New Look, Too
Category: US Motoring Press
G.M.’s Profits Fell 18.5% in the First Quarter
General Motors on Tuesday reported an 18.5 percent drop in profits in the first quarter, mainly because of the cost of job cuts and slowing new-vehicle sales in China. The company also announced that it would build a fourth battery factory in the United States while retiring the electric car that accounts for most of… Continue reading G.M.’s Profits Fell 18.5% in the First Quarter
Canada Lands Volkswagen Battery Plant With Billions in Subsidies
Volkswagen’s first North American battery plant for electric vehicles will be built in Canada, and Prime Minister Justin Trudeau and other Canadian politicians made it clear on Friday that the country had effectively been in a bidding war with the United States. “We put up a lot of money,” Mr. Trudeau said at a news… Continue reading Canada Lands Volkswagen Battery Plant With Billions in Subsidies
Electric Vehicle Tax Credit Rules Create ‘Chaos for Consumers’
Designed to accelerate the shift to electric cars among other climate goals, the Inflation Reduction Act has in practice made buying such vehicles a lot more complicated. In August, the law ruled out the full tax credit of $7,500 for electric vehicles and plug-in hybrids assembled outside North America. That may make it harder for… Continue reading Electric Vehicle Tax Credit Rules Create ‘Chaos for Consumers’
Tesla’s Profit Dropped Sharply in First Quarter as It Cut Prices
Tesla’s profit fell sharply in the first three months of the year after it cut the prices of its electric vehicles, the company said on Wednesday. The carmaker, led by Elon Musk, said it had made $2.5 billion in the first quarter, a drop from $3.7 billion in the last three months of last year… Continue reading Tesla’s Profit Dropped Sharply in First Quarter as It Cut Prices
Elon Musk wrapped up his first visit to China in years. Here’s what the Tesla CEO was up to
Elon Musk last visited China in 2020 for the delivery ceremony of the Model 3. His first visit in 3 years saw the Tesla CEO meet with top government officials and speak to staff at the Shanghai Gigafactory. Ding Ting | Xinhua News Agency | Getty Images Musk meets Chinese officials Musk met with China’s… Continue reading Elon Musk wrapped up his first visit to China in years. Here’s what the Tesla CEO was up to
How inflation and higher interest rates have reshaped car buying for many Americans
Cars are displayed on the sales lot Serramonte Subaru on May 16, 2023 in Colma, California. Justin Sullivan | Getty Images The Federal Reserve’s battle to taper inflation by ratcheting up interest rates is limiting who can afford to purchase a new or used vehicle. The rate hikes have many Americans lowering their buying expectations,… Continue reading How inflation and higher interest rates have reshaped car buying for many Americans
UAW union outlines lofty demands ahead of critical negotiations with Detroit automakers
United Auto Workers members on strike picket outside General Motors’ Detroit-Hamtramck Assembly plant in Detroit on Sept. 25, 2019, with Sen. Bernie Sanders, of Vermont, far left. Michael Wayland | CNBC DETROIT — The United Auto Workers union appears ready to take a hard line when it comes to national negotiations this year with the… Continue reading UAW union outlines lofty demands ahead of critical negotiations with Detroit automakers
Elon Musk is the world’s richest person again
Elon Musk is the wealthiest person in the world again. Michel Euler | AFP | Getty Images Elon Musk is the richest person in the world again, according to Bloomberg Billionaires Index updated figures Thursday. The Tesla CEO saw his wealth jump 40.3% this year to $192 billion, after shares of the electric car maker… Continue reading Elon Musk is the world’s richest person again
Howes: How Bill Ford says Michigan is competing for investment — after losing big
This content is only available to subscribers. Get unlimited digital access. $1 for the first 3 months. 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 from… Continue reading Howes: How Bill Ford says Michigan is competing for investment — after losing big