BMW AG will invest $872 million in its San Luis Potosí, Mexico, plant to manufacture electric vehicles, as part of a broader effort to ramp up its global production network. More than half of the investment will be used to build a new high-voltage battery assembly plant at the site, the German carmaker said Friday,… Continue reading BMW to invest $872 million to build electric vehicles in Mexico
Category: US Motoring Press
‘Accountability starts at the top:’ Senior Ford execs to see bonus cuts
Senior-level managers at Ford Motor Co. will see reductions to their annual bonuses following a 2022 earnings report that CEO Jim Farley said “fell short” of the company’s potential, The Detroit News has learned. Each year, the Dearborn automaker establishes companywide targets for its Annual Incentive Compensation Plan, or AICP. The company’s performance on those… Continue reading ‘Accountability starts at the top:’ Senior Ford execs to see bonus cuts
US tells owners to park old Hondas until air bags are fixed
Detroit – Honda and the U.S. government are urging owners of about 8,200 older vehicles not to drive them until dangerous air bag inflators are replaced. The National Highway Traffic Safety Administration on Friday issued a “Do Not Drive” advisory for the 2001 through 2003 vehicles with Takata inflators that have a high possibility of… Continue reading US tells owners to park old Hondas until air bags are fixed
What counts as an SUV? Treasury shifts definition for EV tax credits after carmaker complaints
Washington — The U.S. Treasury is changing how it defines a sport utility vehicle Friday after car companies lodged complaints that some vehicles were wrongfully being boxed out of new electric vehicle tax credits. The change is likely to be the difference between thousands of dollars in consumer discounts. Under new federal tax credits, SUVs,… Continue reading What counts as an SUV? Treasury shifts definition for EV tax credits after carmaker complaints
The fascinating story behind Ford’s return to Formula 1
Nearly 30 years ago, in the middle of the 1990s, Sir Jackie Stewart convinced Ford to bankroll the creation of a new Formula 1 team. Stewart Grand Prix, based out of an industrial estate in Milton Keynes, existed for all of three seasons and scored a single race victory (Johnny Herbert, the Nürburgring, 1999) before… Continue reading The fascinating story behind Ford’s return to Formula 1
Official: Ford to partner with Red Bull for 2026 F1 entry
Ford will return to Formula 1 with Red Bull and its sister Alpha Tauri team from 2026 until at least 2030, it has been confirmed. The partnership brings Ford back to the top level of single-seater racing for the first time since 2004, when it supplied an engine to the Jordan team bearing its logo,… Continue reading Official: Ford to partner with Red Bull for 2026 F1 entry
One-off Bugatti Chiron Profilee sells for £10m at auction
The one-off Bugatti Chiron Profilee and last ever W16-powered Bugatti has sold for a record-breaking €9,792,500 (£8,731,041) at RM Sotheby’s auction in the Louvre Palace in Paris. Bugatti says the sale makes the Chiron the most valuable new car sold at auction, with it quickly becoming RM Sotheby’s biggest ever Paris sale in its 47-year… Continue reading One-off Bugatti Chiron Profilee sells for £10m at auction
New 2023 Zeekr X is Volkswagen ID 3 rival with up to 422bhp
Geely-owned Zeekr has unveiled its third production model: the X, an electric crossover that will be introduced to European markets following a public debut at the Shanghai motor show in April. The launch of the new EV kicks off what Zeekr officials say will be an aggressive global marketing push by the Chinese car maker, which is aiming to… Continue reading New 2023 Zeekr X is Volkswagen ID 3 rival with up to 422bhp
Ford may further cut European passenger car line-up
Ford is still determining how many car segments it needs to be competing in amid its continued search for profitability in Europe, CEO Jim Farley said on the company’s latest earnings call. Ford posted profits of $47 million (£38m) for Europe in 2022, up from a $154m (£126m) loss in 2021 after losses of $374m (£305m)… Continue reading Ford may further cut European passenger car line-up
Tata Motors commences Tiago EV deliveries
Tata Motors, which has received a strong market response to its Tiago EV, has commenced deliveries of the all-electric hatchback. The Tiago EV was launched on September 28, with introductory pricing that ranges from Rs 849,000 through to Rs 11.79 lakh. These prices for the Tiago EV, currently the most affordable electric car in India, were… Continue reading Tata Motors commences Tiago EV deliveries