US Motoring Press – Page 2691 – I wish I had more to offer

Lordstown Motors says it still has $220 million in cash as it grapples with production issues and an EV pivot

Signage outside Lordstown Motors Corp. headquarters in Lordstown, Ohio, on Saturday, May 15, 2021. Dustin Franz | Bloomberg | Getty Images Lordstown Motors said Monday that it still had more than $220 million in cash at the end of 2022, despite ongoing challenges that halted production of its Endurance electric pickup after just six were… Continue reading Lordstown Motors says it still has $220 million in cash as it grapples with production issues and an EV pivot

Tesla cuts Model S and Model X prices in the U.S. to stoke demand

A drivers uses a Tesla Supercharging station in Corte Madera, California, US, on Thursday, March 2, 2023. David Paul Morris | Bloomberg | Getty Images Tesla cut prices on its two most expensive models in the U.S., the Model S and Model X, in a renewed bid to stoke demand for its cars with aggressive… Continue reading Tesla cuts Model S and Model X prices in the U.S. to stoke demand

South Carolina offers $1.3B to new Scout electric SUV maker

Columbia, S.C. — South Carolina’s governor said Monday he is going to ask lawmakers to approve nearly $1.3 billion to bring to the state a new electric vehicle plant by a Volkswagen Group-backed group trying to revive a brand that was a 1960s forerunner to today’s SUVs. Scout Motors Inc. and South Carolina officials announced… Continue reading South Carolina offers $1.3B to new Scout electric SUV maker

Tesla’s China price war sparks $18 billion BYD rout

A Tesla-inspired price war among electric vehicle makers in China is taking a toll on even the most resilient players, as evidenced by BYD’s staggering $18 billion drop in the past month. The U.S.-listed shares of the electric-vehicle maker that’s backed by Warren Buffett have declined 14% since the start of February, underperforming Tesla’s 9%… Continue reading Tesla’s China price war sparks $18 billion BYD rout

Tesla slashes Model S and X prices for the second time this year

This content is only available to subscribers. Get unlimited digital access. $1 for 3 Months. Subscribe Now Your subscription supports: Unlimited access to subscriber only articles on desktop, tablet and mobile web. The eNewspaper, a digital replica of the print paper, every day. Trusted, up-to-date local Detroit and Michigan breaking news. Newsletters on topics that… Continue reading Tesla slashes Model S and X prices for the second time this year

Livengood: Michigan’s knowledge economy takes back seat behind factory labor

This content is only available to subscribers. Get unlimited digital access. $1 for 3 Months. Subscribe Now Your subscription supports: Unlimited access to subscriber only articles on desktop, tablet and mobile web. The eNewspaper, a digital replica of the print paper, every day. Trusted, up-to-date local Detroit and Michigan breaking news. Newsletters on topics that… Continue reading Livengood: Michigan’s knowledge economy takes back seat behind factory labor

Volkswagen targets 200,000 Scout EV 4x4s at new US factory

The electric resurrection of the International Harvester Scout will be built in South Carolina, the US, in volumes that could hit as high as 200,000 per year. Production at Scout Motors’ first manufacturing plant is projected to start at the end of the 2026. Its Rivian-rivalling electric 4×4, arriving with SUV and pick-up variants, will “hark back” to the IH Scout… Continue reading Volkswagen targets 200,000 Scout EV 4x4s at new US factory

February 2023 auto retails rise 16%, all five segments record double-digit growth ahead of festive March

February 2023 auto retails rise 16%, all five segments record double-digit growth ahead of festive March The India Auto Inc growth story is improving, given the February 2023 retail numbers released by the Federation of Automobile Dealers Associations (FADA). The 17,75,424 units encompassing cumulative sales of five vehicle segments are a 15.95% year-on-year increase over… Continue reading February 2023 auto retails rise 16%, all five segments record double-digit growth ahead of festive March