Tesla’s new factory in the Mexican state of Nuevo León will cost $5 billion, will employ up to 7,000 people and could start churning out cars as early as next year, the state’s governor said on Friday. Tesla announced this week that it planned an assembly plant in Mexico — its fifth worldwide — but… Continue reading Tesla Could Start Making Cars in Mexico Next Year, Governor Says
Category: US Motoring Press
Formula 1’s Rookie Class of 2023
When the season kicks off on Sunday in Bahrain, three rookies will have achieved their dreams of grabbing seats in Formula 1. Logan Sargeant with Williams, the first American driver in the sport in almost 10 years; Nyck de Vries with AlphaTauri; and Oscar Piastri with McLaren are embarking on their first seasons. Piastri has… Continue reading Formula 1’s Rookie Class of 2023
Formula 1’s Many Changes at the Top
Formula 1’s off-season was unusual. It is natural for drivers to swap teams, and several indeed did, but for several team principals and senior executives to move around is rare. But before the season started, there were major changes. Mattia Binotto resigned from Ferrari and was replaced by Frédéric Vasseur, who had been the team… Continue reading Formula 1’s Many Changes at the Top
With a Redesigned Car, Mercedes Hopes It Can Unseat Red Bull as F1 Champion
There was a period during its record streak of eight consecutive world championships from 2014 to 2021 that Mercedes seemed unbeatable. Yet when new rules were introduced to Formula 1 last year, changing the car designs to provide better racing, Mercedes’ prospects strikingly changed. The team failed to adjust to the new rules as well… Continue reading With a Redesigned Car, Mercedes Hopes It Can Unseat Red Bull as F1 Champion
Rivian Lost $6.8 Billion Last Year as Production Fell Short
Rivian, a maker of electric trucks, said on Tuesday that it lost $1.7 billion in the final three months of last year as it struggled with production difficulties. The loss brings the company’s total losses for 2022 to $6.8 billion and highlights the troubles that once-promising start-ups are having gaining ground on Tesla, which dominates… Continue reading Rivian Lost $6.8 Billion Last Year as Production Fell Short
U.S. Eyes Trade Deals With Allies to Ease Clash Over Electric Car Subsidies
BENGALURU, India — The Biden administration hopes to reach limited free trade agreements with countries in Europe and Asia that would not require congressional approval as it looks to ease allies’ concerns about legislation that President Biden signed into law last year, Treasury Secretary Janet L. Yellen said on Friday. The law, known as the… Continue reading U.S. Eyes Trade Deals With Allies to Ease Clash Over Electric Car Subsidies
Lucid Motors Steps Up Production as Supply Chain Problems Ease
Lucid Motors said on Wednesday that it increased production of its luxury electric sedans by more than 50 percent in the fourth quarter, as better supplies of parts and materials allowed the company to slightly exceed its manufacturing target for the full year. The carmaker said it produced 7,200 vehicles in 2022, its first year… Continue reading Lucid Motors Steps Up Production as Supply Chain Problems Ease
Tesla shares fall nearly 10% after earnings decline from year-ago quarter
Tesla CEO Elon Musk attends the official opening of the new Tesla electric car manufacturing plant on March 22, 2022 near Gruenheide, Germany. The new plant, officially called the Gigafactory Berlin-Brandenburg, is producing the Model Y as well as electric car batteries. Christian Marquardt – Pool/Getty Images Shares of electric vehicle manufacturer Tesla fell nearly… Continue reading Tesla shares fall nearly 10% after earnings decline from year-ago quarter
Ford F-150 Lightning fire footage highlights a growing EV risk
watch now DEARBORN, Mich. — New video footage of a fire involving a Ford F-150 Lightning this year highlights a growing concern around electric vehicles: volatile fires from the batteries that power them. The previously unreleased footage, which CNBC obtained through Michigan’s Freedom of Information Act from the Dearborn Police Department, shows smoke billowing from… Continue reading Ford F-150 Lightning fire footage highlights a growing EV risk
Toyota reveals two more electric cars for China
Toyota displays a new concept electric car — developed jointly with BYD and FAW — at the Shanghai auto show in April 2023. CNBC | Evelyn Cheng BEIJING — Toyota this week began taking orders for its first electric sedan in China, and announced two more models are set to come to the local market… Continue reading Toyota reveals two more electric cars for China