The global car market is rebounding strongly despite shortages of key components like semiconductors. That was the message Tuesday from German carmaker BMW and Stellantis, which owns Jeep, Peugeot and Fiat, as both reported large increases in profit. BMW said it made a net profit of 4.8 billion euros, or $5.7 billion, in the second… Continue reading BMW and Stellantis report big jumps in profit as car sales snap back.
Category: US Motoring Press
What if Highways Were Electric? Germany Is Testing the Idea.
OBER-RAMSTADT, Germany — On a highway south of Frankfurt recently, Thomas Schmieder maneuvered his Scania tractor-trailer and its load of house paint into the far right lane. Then he flicked a switch you won’t find on most truck dashboards. Outside the cab a contraption started to unfold from the roof, looking like a clothes-drying rack… Continue reading What if Highways Were Electric? Germany Is Testing the Idea.
Geely EV brand Zeekr raises $500 million from investors
Zeekr Intelligent Technology Co., the electric-vehicle brand aiming its cars at a younger, trendier demographic in China, has raised $500 million in its first external funding round, according to a statement Friday. Five investors participated, including the world’s biggest EV battery maker, Contemporary Amperex Technology Co. Ltd. The other investors were Intel Capital, which led… Continue reading Geely EV brand Zeekr raises $500 million from investors
EV startup Rivian files for IPO, seeks about $80 billion valuation
Rivian Automotive Inc., the maker of electric pickups backed by Amazon.com Inc., has filed for an initial public offering and is seeking a roughly $80 billion valuation, according to people familiar with the matter. The Irvine, California-based startup said in a statement Friday that it submitted its S-1 registration to the Securities and Exchange Commission,… Continue reading EV startup Rivian files for IPO, seeks about $80 billion valuation
UAW president backs delegate system in election referendum
United Auto Workers President Ray Curry said Thursday he supports the continuation of the current delegate system used to select international leaders of the union. The UAW is slated to hold a referendum vote starting in October over whether the union’s constitution should be amended to allow for the direct election of the governing 12-member International… Continue reading UAW president backs delegate system in election referendum
Chip shortage hits Ram 1500 truck production in Sterling Heights again
The global semiconductor shortage is forcing another pause in production of Ram 1500 trucks in Sterling Heights, Stellantis NV said Friday. Production will be down next week. It was a part of a slew of work stoppages announced by the transatlantic automaker after it had managed to stave off unscheduled downtime at its North American plants… Continue reading Chip shortage hits Ram 1500 truck production in Sterling Heights again
Aston Martin chassis guru Becker set to take new role at McLaren
Autocar has learned that Matt Becker, Aston Martin’s chief executive for vehicle attributes – and the winner of Autocar’s Mundy Award for Engineering – is set to leave the company for a new role at McLaren. David King, who heads Aston’s special vehicle operations, is also departing. The news comes just two months after it… Continue reading Aston Martin chassis guru Becker set to take new role at McLaren
Lotus terminates partnerships with several UK retailers
Lotus has terminated contracts with several franchised dealerships in the UK as part of a “restructuring” of its retail network to coincide with the launch of the Emira. The move has sparked concerns that the availability of parts for second-hand Lotus models – already a concern for owners – could be restricted. According to a… Continue reading Lotus terminates partnerships with several UK retailers
Mahindra First Choice Wheels opens 75 stores in a day
Mahindra First Choice Wheels (MFCW), one of India’s leading multi-brand pre-owned car retailers, has launched 75 new franchise stores on a single day across India. With this addition, MFCW now has a network of over 1,100 stores in India. The new stores have been added across 19 states of the country – Kerala, Karnataka, Jammu & Kashmir,… Continue reading Mahindra First Choice Wheels opens 75 stores in a day
Mumbai unveils multi-pronged climate action plan
With Mumbai being one of the high risk cities to the worst impacts of climate change, Cabinet Minister of Environment, Tourism & Protocol Aaditya Thackeray today launched the first ever Climate Action Plan dedicated to the city. The programme aims to ensure better future planning and growth keeping in tune with climate adaptation, mitigation and… Continue reading Mumbai unveils multi-pronged climate action plan