Autos

Croatian EV supercar maker Rimac raised 500 million euros to make parts for Big Auto rivals
Business

Croatian EV supercar maker Rimac raised 500 million euros to make parts for Big Auto rivals

Rimac Group, the Croatian company best known for its 1,900 horsepower Nevera electric sports car, said it has raised 500 million euros (about $537 million) from investors including Goldman Sachs, Porsche and a technology fund advised by Japan’s SoftBank. The new funding round values Rimac at over 2 billion euros. Rimac made headlines last year […]

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Chinese electric car start-up WM Motor files to go public in Hong Kong
Business

Chinese electric car start-up WM Motor files to go public in Hong Kong

Chinese electric car company WM Motor, or Weltmeister, filed Wednesday to go public in Hong Kong. Pictured here is one of the company’s cars in a shopping mall in Shanghai. Future Publishing | Future Publishing | Getty Images BEIJING — Chinese electric car start-up WM Motor filed Wednesday to go public on the Hong Kong […]

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Autoworker union accuses GM joint venture of denying access to organize workers
Business

Autoworker union accuses GM joint venture of denying access to organize workers

Striking United Auto Workers members and supporters attend a speech by Vermont Sen. Bernie Sanders outside General Motors’ Detroit-Hamtramck Assembly plant on Sept. 25, 2019 in Detroit. Michael Wayland / CNBC DETROIT – The United Auto Workers union is accusing a new General Motors joint venture of denying access to workers to conduct a preliminary […]

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This electric vehicle stock is poised for a comeback as China lockdowns ease, Morgan Stanley says
Business

This electric vehicle stock is poised for a comeback as China lockdowns ease, Morgan Stanley says

Shutdowns in China have hit Nio hard, but the electric vehicle maker is ready for a rebound which could come as soon as the next 15 days, according to Morgan Stanley. China’s Covid lockdowns pummeled the electric automaker in recent months, shutting down production, suppressing vehicle sales, and delaying the launch of new models. However, […]

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Memorial Day weekend car shopping is looking ‘pretty bleak.’ Here’s what to expect
Business

Memorial Day weekend car shopping is looking ‘pretty bleak.’ Here’s what to expect

Bloomberg | Bloomberg | Getty Images One of the best car-shopping weekends prepandemic is more of a dud these days. Amid the auto industry’s manufacturing challenges due to persisting supply-chain issues, Memorial Day sales are generally minimal to nonexistent this year. “It’s looking pretty bleak, to be straightforward about it,” said Ivan Drury, senior manager […]

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Twitter shareholders sue Elon Musk and Twitter over chaotic deal
Technology

Twitter shareholders sue Elon Musk and Twitter over chaotic deal

Sheldon Cooper/SOPA Images | Lightrocket | Getty Images Twitter shareholders are suing Elon Musk, and Twitter itself, over their handling of a chaotic acquisition process that is still underway, and that has contributed to volatile price swings in the company’s stock price. The Tesla and SpaceX CEO revealed a significant stake in Twitter on April 4, and ten […]

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Jefferies cuts Tesla price target, cites ‘uncomfortable pile up of negative news’
Business

Jefferies cuts Tesla price target, cites ‘uncomfortable pile up of negative news’

The firm still holds a buy rating on shares of Tesla, despite the recent underperformance. Source

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Electric vehicles are in short supply. Here’s what you can find as gas prices soar
Business

Electric vehicles are in short supply. Here’s what you can find as gas prices soar

Charging port for a Ford Motor Co. Mustang during the Washington Auto Show in Washington, D.C., on Friday, Jan. 21, 2022. Al Drago | Bloomberg | Getty Images As gas prices hit record highs, some Americans might be tempted to go electric and ease the pain at the pump. But finding a shiny, new electric vehicle […]

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Stellantis CEO warns of electric vehicle battery shortage, followed by lack of raw materials
Business

Stellantis CEO warns of electric vehicle battery shortage, followed by lack of raw materials

Stellantis CEO Carlos Tavares holds a news conference after meeting with unions, in Turin, Italy, March 31, 2022. Massimo Pinca | Reuters Stellantis CEO Carlos Tavares said he expects shortages of the batteries and raw materials needed to make electric vehicles in the coming years, as the global automotive industry pivots to EVs to meet […]

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Jeep maker Stellantis to build .5 billion EV battery plant in Indiana
Business

Jeep maker Stellantis to build $2.5 billion EV battery plant in Indiana

Stellantis logo displayed on a phone screen is seen with some of the company brands logos displayed in the background in this illustration photo taken in Krakow, Poland on December 7, 2021. Jakub Porzycki | NurPhoto | Getty Images Automaker Stellantis plans to invest more than $2.5 billion in partnership with Samsung SDI to build […]

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