Elon Musk, the chief executive of Tesla, disclosed on Wednesday that he had sold about $5 billion worth of Tesla shares, in part to cover his tax obligations after exercising options on a large tranche of stock. Mr. Musk sold about 4.5 million shares between Monday and Wednesday, according to filings with the Securities and… Continue reading Elon Musk Sells $5 Billion in Tesla Stock
Category: US Motoring Press
Detroit car dealers target Sept. 14-25 for 2022 auto show
After a years-long COVID-19 pandemic-induced hiatus, the Detroit Auto Dealers Association is targeting Sept.14-25, 2022, to revive the North American International Auto Show, Doug North, the DADA’s chairman emeritus of events, told The Detroit News Tuesday. The news comes as the state legislature is considering a spending bill that includes a one-time grant of $9 million for the auto… Continue reading Detroit car dealers target Sept. 14-25 for 2022 auto show
Toyota to plow $35 billion into accelerating electric car shift
Toyota Motor Corp. wants the world to know it’s serious about competing in the market for battery-based electric vehicles. The world’s biggest carmaker is planning to invest 4 trillion yen ($35.2 billion) to supercharge its EV push, with a target to sell 3.5 million units annually by the end of the decade, Chief Executive Officer… Continue reading Toyota to plow $35 billion into accelerating electric car shift
Ford to launch free food delivery program in southwest Detroit using autonomous shuttle
In a move aimed both at fulfilling a community need and advancing vehicle technologies considered a key part of its future, Ford Motor Co. is launching a fresh food delivery pilot in southwest Detroit using an autonomous vehicle shuttle. The Dearborn automaker, with its philanthropic arm the Ford Motor Co. Fund, on Tuesday announced a six-month initiative kicking off after the… Continue reading Ford to launch free food delivery program in southwest Detroit using autonomous shuttle
Lansing City Council endorses tax breaks for GM battery plant
Lansing City Council on Monday moved forward with supporting a $2.5 billion investment from General Motors Co. for a battery cell manufacturing plant near its Delta Township assembly plant. Council approved a resolution recommending the formation of a renaissance zone for the development in an application to the Michigan Strategic Fund. Granting a renaissance zone exempts persons and property… Continue reading Lansing City Council endorses tax breaks for GM battery plant
Napino Group partners Kerdea Technologies for O2 sensors, will cater to new emission norms
Napino Auto & Electronics, a leading component supplier has announced a strategic partnership with US-based Kerdea Technologies for its proprietary O2 Sensor (resistive technology). As per the understanding, Kerdea will transfer its resistive technology to Napino, which will help the supplier to meet the demand for oxygen sensors for the Indian automobile industry in the BS-VI… Continue reading Napino Group partners Kerdea Technologies for O2 sensors, will cater to new emission norms
BMW Motorrad India sells 5,000 bikes in 2021, G 310s clock 4,500 units
BMW Motorrad India, the two-wheeler arm of the BMW Group in the country, is on a roll. The company has announced record sales of exactly 5,000 units in 2021, its best annual sales yet and a strong 95% year-on-year increase (CY2020: 2,563 units). This is a laudable performance coming in the face of rather difficult… Continue reading BMW Motorrad India sells 5,000 bikes in 2021, G 310s clock 4,500 units
Maruti Suzuki: Selling cars directly to customers difficult for large volume players
Mercedes-Benz recently announced that it has sold over 1,000 cars under its new ‘Retail of the Future’ strategy, which is all about selling vehicles directly to customers. While the sales model might be working well for the luxury marque, on the other end of the spectrum, Maruti Suzuki is in no hurry to break convention.“At… Continue reading Maruti Suzuki: Selling cars directly to customers difficult for large volume players
Maruti Super Carry crosses 100,000 sales five years after launch, CNG model in demand
The Maruti Super Carry, the first commercial vehicle produced by India’s passenger vehicle market leader, has driven past 100,000 sales in the domestic market. The milestone comes a little over five years since launch. Launched on September 1, 2016, at an introductory price of Rs 403,000, the Super Carry project saw the company invest around Rs… Continue reading Maruti Super Carry crosses 100,000 sales five years after launch, CNG model in demand
Shock and awe: Toyota and Lexus reveal 15 new electric cars
Toyota president Akio Toyoda has unwrapped no less than 15 wildly diverse concepts for upcoming Toyota and Lexus electric cars, as he detailed plans for the two firms to launch a total of 30 battery EVs by 2030. The machines – shown alongside Toyota’s first bespoke EV, the bZ4X – include a range of new SUVs, commercial vehicles, off-roaders… Continue reading Shock and awe: Toyota and Lexus reveal 15 new electric cars