In a warning shot to a thriving corner of Wall Street, federal authorities on Thursday filed criminal and civil securities fraud charges against the founder of Nikola — a start-up automaker that went public by merging with an investment firm last year. An indictment by the U.S. attorney’s office in Manhattan charged the founder, Trevor… Continue reading Nikola Founder Trevor Milton Charged With Securities Fraud
Tag: Manufacturing
General Motors Recalls Chevrolet Bolts Over Battery Fire Hazard
General Motors is recalling nearly 51,000 Chevrolet electric cars in the United States whose battery modules have been found to be at risk of catching fire. The recall covers Chevrolet Bolts from the 2017 to 2019 model years and comes after an earlier recall to add software designed to prevent the cars’ batteries from overheating.… Continue reading General Motors Recalls Chevrolet Bolts Over Battery Fire Hazard
The Car Market ‘Is Insane’: Dealers Can’t Keep Up With Demand
Some customers have balked at paying top dollar for new cars and have opted to make do with older vehicles. That has increased demand for parts and service, one of the most profitable businesses for car dealers. Many dealers have extended repair-shop hours. Mr. Ricart said he had some repair technicians putting in 10- or… Continue reading The Car Market ‘Is Insane’: Dealers Can’t Keep Up With Demand
University of Wisconsin-Madison and City of Racine Awards Perrone Robotics, Inc. New Autonomous Vehicle Shuttle Contract
UW-Madison’s Traffic Operations and Safety Laboratory (TOPS Lab), a research laboratory within the Department of Civil and Environmental Engineering, will use the highly automated vehicle on public and private roads for research, data collection and public engagement. Through a partnership with the city of Racine, Gateway Technical College and UW-Madison, Perrone’s AV vehicle will be… Continue reading University of Wisconsin-Madison and City of Racine Awards Perrone Robotics, Inc. New Autonomous Vehicle Shuttle Contract
Cango Inc. Reports Second Quarter 2021 Unaudited Financial Results
SHANGHAI, Aug. 19, 2021 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”), a leading automotive transaction service platform in China, today announced its unaudited financial results for the second quarter of 2021. Second Quarter 2021 Financial and Operational Highlights Total revenues were RMB946.7 million (US$146.6 million), a 245.5% increase from RMB274.1 million in the… Continue reading Cango Inc. Reports Second Quarter 2021 Unaudited Financial Results
Tesla will enter the Japanese energy market with a 6 MWh Megapack project
Tesla is reportedly about to enter the Japanese energy market with its energy storage products, starting with a 6 MWh Megapack project. Since its inception, Tesla has been intricately linked to Japan. Until Panasonic, a Japanese company, no other battery supplier wanted to sell li-ion to Tesla for use in electric cars. For years and… Continue reading Tesla will enter the Japanese energy market with a 6 MWh Megapack project
Workers at Mexico GM plant end contract, oust union in vote
Mexico City — Workers at a General Motors plant in Mexico have voted to end a collective bargaining contract negotiated by an old guard union accused of intimidation tactics in earlier votes. It was an early display of the effectiveness of labor mechanisms negotiated under the U.S.-Mexico-Canada Trade Agreement. Nearly 6,000 workers at the GM plant… Continue reading Workers at Mexico GM plant end contract, oust union in vote
Ford halts F-150 production in Missouri, while GM pauses EV assembly
Ford Motor Co. will halt F-150 pickup truck production next week at its Kansas City Assembly Plant in Missouri and General Motors Co. is halting assembly of its all-electric Chevrolet Bolt because of the continuing global semiconductor shortage. The scarcity of microchips used in consumer electronics, including vehicles’ assisted driving functions, emissions controls, infotainment and more,… Continue reading Ford halts F-150 production in Missouri, while GM pauses EV assembly
@Toyota: A Renewed Purpose: Toyota Tennessee Builds Engine Parts from Recycled Aluminum
Toyota Motor Manufacturing, Tennessee (TMMTN) builds engine blocks for every car, SUV and truck assembled in North America. The plant’s more than 300-member workforce is responsible for bringing vehicles to life by using aluminum to create thousands of engine blocks and transmission cases and housings every day. TMMTN produces up to 1.6 million engine blocks… Continue reading @Toyota: A Renewed Purpose: Toyota Tennessee Builds Engine Parts from Recycled Aluminum
@Toyota: [Correction] Adjustments to Domestic Production in August and September
Adjustments will be made to production operations of plants for completed vehicles in Japan as follows, such as parts shortage resulting from the spread of COVID-19 in Southeast Asia. This is in addition to the adjustment of domestic production operations in August 2021 announced on July 22 and July 27. Go to Source