Sebastian Gollnow | picture alliance | Getty Images The CEO of Daimler emphasized the importance of low-emission technologies and innovation on Friday, telling CNBC that the automotive industry was “in the middle of a transformation.” “Next to the things that we know well — to build, frankly, the world’s most desirable cars — there are… Continue reading Daimler’s Mercedes-Benz triples its electric car sales as CEO predicts a ‘transformative’ decade
Category: US Motoring Press
Chinese search firm Baidu to create an electric vehicle company as tech giants jump into auto space
GUANGZHOU, China — Chinese search giant Baidu will create a standalone electric vehicle company, a person familiar with the matter told CNBC. The Beijing-headquartered company will be the majority shareholder while Chinese automaker Geely will take a minority stake, the person said. Geely will be responsible for manufacturing the vehicles while Baidu will focus on… Continue reading Chinese search firm Baidu to create an electric vehicle company as tech giants jump into auto space
Carmakers Put Their Biggest Faces Forward
Every generation of automotive design has its Mona Lisa — and its Dogs Playing Poker. We’ve had tail fins (time for a comeback?) and the mock-convertible tops of landau vinyl roofs (I cruelly — but rightfully — judge my parents on that tacky 1980s decision). Remember the sharply angled rears of the “bustleback” Cadillac Seville,… Continue reading Carmakers Put Their Biggest Faces Forward
Chevy introduces virtual shopping experience for new vehicles
Detroit — The pandemic has pushed auto manufacturers and dealers to rethink how customers shop, affirming the importance of virtual platforms like General Motors Co.’s new Chevy MyWay live vehicle tour. The platform, launched Wednesday in test mode, gives customers one-on-one access to live tours of the Chevrolet lineup with product specialists. It also can create a virtual auto show experience. Chevy… Continue reading Chevy introduces virtual shopping experience for new vehicles
Bronco Sport was Ford’s 1 bright spot amid grisly 4th-quarter sales
The baby Bronco known as the Bronco Sport, a surprisingly popular new release by Ford in late 2020, offered a bright spot in the fourth-quarter sales report amid otherwise grim numbers. “It’s everything we could get to the dealers. It’s being sold as fast as they come off the truck,” Erich Merkle, U.S. sales analyst at… Continue reading Bronco Sport was Ford’s 1 bright spot amid grisly 4th-quarter sales
G.M. Scales Down Nikola Deal
Nikola, a start-up electric truck company that had made a big splash on Wall Street, announced a broad alliance with General Motors in September that promised to give the company critical technology, financial support and credibility with investors. But the news was quickly overtaken by claims that Nikola had exaggerated its capabilities, and the firm’s… Continue reading G.M. Scales Down Nikola Deal
Rivian Is close to raising funds at $25 billion valuation
Rivian Automotive Inc., the electric-truck startup backed by Amazon.com Inc. and Ford Motor Co., is close to raising a new round of funding valuing it at about $25 billion, according to people familiar with the matter. Several existing Rivian investors are participating in the round, which will raise several billion dollars, the people added, asking… Continue reading Rivian Is close to raising funds at $25 billion valuation
A deal called ‘pivotal’ by Ford in 2019 goes kaput, adding twist to financials
A cost-cutting deal called “pivotal” by Ford in 2019 has gone kaput, the automaker announced just after the stock market closed on New Year’s Eve. It was a quiet but dramatic turn of events for Ford that potentially carries financial consequences in 2021 and throws into question Ford operations in India. Ford loses money in all markets… Continue reading A deal called ‘pivotal’ by Ford in 2019 goes kaput, adding twist to financials
G.M. Accelerates Its Ambitions for Electric Vehicles
For the last five years, G.M., Ford Motor, Volkswagen and others have been trying to develop compelling and affordable electric vehicles, while watching with both envy and admiration as Tesla raced ahead. Tesla is on track to sell close to 500,000 E.V.s this year, far more than any rival, and is building factories in Germany… Continue reading G.M. Accelerates Its Ambitions for Electric Vehicles
FCA to invest in Poland for new electric Jeeps, Fiats and Alfa Romeos
Fiat Chrysler Automobiles NV on Tuesday confirmed plans to refurbish a plant in Poland for three new models for the Jeep, Fiat and Alfa Romeo brands, including hybrid and all-electric versions. It is not yet clear if those vehicles will be sold outside Europe when they start rolling off the line in the second half of 2022,… Continue reading FCA to invest in Poland for new electric Jeeps, Fiats and Alfa Romeos