He added, however, that he never gets complacent about demand and remains respectful of market conditions that could affect his company, because many of its customers work in financial services. “We’re a success, but a lot can happen suddenly,” he said. “There’s a difference between success at the moment and foresight of the future.” To… Continue reading Pagani to continue releasing V12 hypercars after scrapping EV plan
Category: US Motoring Press
GM subsystem workers at 4 Michigan plants ratify a new contract
UAW members at four Michigan plants have a new national contract with General Motors’ Subsystems Manufacturing LLC. On Wednesday the 600 subsystems employees ratified the contract by a 96% “yes” vote. In it, they will get a pay raise, a $7,000 ratification bonus and other benefits such as new dental and vision coverage as well as a new profit… Continue reading GM subsystem workers at 4 Michigan plants ratify a new contract
Stellantis CEO says changing economic climate will have implications for startups
Stellantis CEO Carlos Tavares said Wednesday that the changing economy will have implications for the world of startups and is proving the value of the company’s bet on them this year. Tavares made his comments during an online awards announcement to highlight the company’s partnerships with startups. Because governments are boosting interest rates to fight inflation, getting… Continue reading Stellantis CEO says changing economic climate will have implications for startups
Auto Safety Agency Expands Tesla Investigation
The federal government’s top auto-safety agency is significantly expanding an investigation into Tesla and its Autopilot driver-assistance system to determine if the technology poses a safety risk. The agency, the National Highway Traffic Safety Administration, said Thursday that it was upgrading its preliminary evaluation of Autopilot to an engineering analysis, a more intensive level of… Continue reading Auto Safety Agency Expands Tesla Investigation
Americans are paying record-high prices for new vehicles
If investors are looking for signs of a recession or weakening consumer spending, they can skip over new vehicle prices, which reached a new record in June. Go to Source
Panasonic reportedly building new factory in Kansas to produce batteries for Tesla and rest of EV industry
The Panasonic plant will reportedly supply Tesla, whose demand for batteries is increasing as it ramps up production. Go to Source
Polestar says it’s still on track to deliver 50,000 vehicles this year despite Covid-19 disruptions
Polestar’s first-half deliveries were hurt by China’s Covid-19 lockdowns, but the electric vehicle maker still expects to meet its full-year guidance. Go to Source
Shares of Tianqi Lithium fell as much as 10% in first day of trading in Hong Kong
Shares of Tianqi Lithium fell as much as 10% in their Hong Kong market debut Wednesday before closing flat. Go to Source
EV startup Canoo has second battery fire in preproduction tests
This content is only available to subscribers. Get unlimited digital access $1 for 6 Months. Subscribe Now Your subscription supports: Unlimited access to subscriber only articles on desktop, tablet and mobile web. The e-Edition, 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 EV startup Canoo has second battery fire in preproduction tests
Rivian’s planned job cut just the latest in gloomy-looking auto sector
This content is only available to subscribers. Get unlimited digital access $1 for 6 Months. Subscribe Now Your subscription supports: Unlimited access to subscriber only articles on desktop, tablet and mobile web. The e-Edition, 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 Rivian’s planned job cut just the latest in gloomy-looking auto sector