Category: US Motoring Press

Tesla alleges act of employee sabotage in new internal email

Tesla Inc. is warning workers at its auto plant in Fremont, California, that an employee allegedly “maliciously sabotaged” part of a factory last month and was fired after an internal investigation, according to a memo seen by Bloomberg News. The electric-car manufacturer responded to the incident rapidly, and operations at the facility were disrupted for… Continue reading Tesla alleges act of employee sabotage in new internal email

Amid job cuts, Ford workers get merit pay delayed by coronavirus

Ford Motor Co. plans to “be applying merit pay increases, delayed early in the pandemic, in October,” a company official confirmed to the Free Press. T.R. Reid, Ford spokesman, declined to say how many workers would receive the increase or the size of merit pay. “Merit pay increases vary by person, based on achievement of objectives.… Continue reading Amid job cuts, Ford workers get merit pay delayed by coronavirus

GM considers boosting stake in Nikola in reworked deal

General Motors Co. is considering revisions to its deal with embattled Nikola Corp., according to people familiar with the discussions, and may seek a higher stake in the startup now that its valuation has fallen after allegations of deception. GM tentatively agreed to take an 11% stake in Nikola as part of a cash-free deal… Continue reading GM considers boosting stake in Nikola in reworked deal

GM, Nikola renegotiate as Nikola makes more leadership changes

General Motors is seeking a higher equity stake in Nikola Corp. in return for sharing its fuel cell and battery technologies as well as building the Badger, a heavy-duty electric pickup, for Nikola. Two people familiar with the deal told the Detroit Free Press that lawyers for GM and Nikola have been meeting daily. GM originally agreed to an 11% equity stake in Nikola,… Continue reading GM, Nikola renegotiate as Nikola makes more leadership changes

Unexpected demand for 2021 Ford Bronco creates unique challenge for buyers

No reservation? No Bronco. Demand for the 2021 Ford Bronco SUV is so strong that Ford doesn’t expect to fill all customer orders into 2022, the company told the Free Press.  The Bronco, a bestselling vehicle resurrected for the first time since it ended production 25 years ago, is being built to order initially.  People who have placed reservations are… Continue reading Unexpected demand for 2021 Ford Bronco creates unique challenge for buyers

FCA CEO Mike Manley will not be on Stellantis board after merger with PSA

Fiat Chrysler Automobiles NV and merger partner Groupe PSA on Tuesday named the 11 members to their combined board as Stellantis, and FCA CEO Mike Manley was not among them. Despite the merger’s 50-50 stock split, Paris-based PSA is naming six of the board members compared to FCA’s five. All are subject to shareholder approval. Only two current… Continue reading FCA CEO Mike Manley will not be on Stellantis board after merger with PSA

Tesla aims to mine its own lithium after dropping M&A plan

Tesla Inc. secured its own lithium mining rights in Nevada after dropping a plan to buy a company there, according to people familiar with the matter. The automaker held discussions in recent months with Cypress Development Corp., which is seeking to extract lithium from clay deposits in southwest Nevada, but the parties didn’t reach a… Continue reading Tesla aims to mine its own lithium after dropping M&A plan

GM announces $71 million investment at Ohio plants

General Motors said Monday it will invest $71 million into two manufacturing plants in Ohio. The investments, which GM said would help it retain 240 jobs, include $39 million at the company’s Toledo transmission plant and $32 million at its Defiance casting plant, according to an announcement from the company.  “The Toledo investment will be used to… Continue reading GM announces $71 million investment at Ohio plants