Transportation
Lucid slightly tops Wall Street’s third-quarter expectations amid widening losses
Brand new Lucid electric cars sit parked in front of a Lucid Studio showroom in San Francisco on May 24, 2024. Justin Sullivan | Getty Images Lucid Group slightly beat Wall Street’s third-quarter expectations as the electric carmaker cuts costs ahead of plans to begin consumer production of a new SUV by the end of […]
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Rivian lowers earnings guidance after missing Wall Street’s third-quarter expectations
Workers assemble second-generation R1 vehicles at electric auto maker Rivian’s manufacturing facility in Normal, Illinois, U.S. June 21, 2024. Joel Angel Juarez | Reuters Rivian Automotive lowered its earnings forecast for the year after missing Wall Street’s third-quarter expectations, including a significant miss in revenue. Here’s how the company performed in the quarter, compared with […]
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Bentley Motors further delays all-EV plan amid weak demand as it embraces plug-in hybrids
A staff member checks a Bentayga SUV on the Bentley production line at its factory in Crewe, England, on Dec. 7, 2022. Phil Noble | Reuters Bentley Motors is once again pushing back a target to exclusively offer all-electric vehicles, with plans to continue leaning into plug-in hybrid electric vehicles until at least 2035. The […]
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Stellantis to indefinitely lay off 1,100 workers at Jeep plant in Ohio
A view of the Jeep Plant where United Auto Workers members are picketing on September 18, 2023 in Toledo, Ohio. Sarah Rice | Getty Images DETROIT — Automaker Stellantis announced plans Wednesday to cut a manufacturing shift and indefinitely lay off roughly 1,100 workers at a Jeep plant in Ohio. The company, which has been […]
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Foreign automaker stocks slide on Trump tariff fears
Republican presidential nominee and former U.S. President Donald Trump speaks during a campaign town hall meeting, moderated by Arkansas Governor Sarah Huckabee Sanders, in Flint, Michigan, U.S., September 17, 2024. Brian Snyder | Reuters DETROIT — Stock prices of foreign automakers, including Chinese and German manufacturers, fell sharply on Wednesday amid concerns the U.S. will […]
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Trump vow on new trade war sends shockwaves through supply chain, importers scramble to move up orders
Retailers and manufacturing companies have been increasingly calling logistics partners, both in the days leading up to presidential election and on Election Night, about “front loading” shipments ahead of any changes in tariff policy to be pursued by President-elect Donald Trump, who campaigned on an aggressive expansion of existing U.S. tariffs on cross-border trade. Trump […]
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What Trump’s election to the White House could mean for EVs
Production is now set to begin at the former Detroit-Hamtramck assembly plant, less than two years after GM announced the massive $2.2 billion investment to fully renovate the facility to build a variety of all-electric trucks and SUVs. Photo by Jeffrey Sauger for General Motors DETROIT – President-elect Donald Trump’s victory over Vice President Kamala […]
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Ferrari’s core profit rises 7%, helped by product mix, personal touches
A Ferrari logo is being installed on a Ferrari car at Ferrari’s new ‘e-building’ facility where the luxury sportscar maker is testing lines before an expected start of car production in early 2025, in Maranello, Italy, June 21, 2024. Daniele Mascolo | Reuters Ferrari said on Tuesday its core earnings rose 7% in the third […]
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Chinese driver-assist startup announces $100 million in funding, touts ‘deep cooperation’ with Nvidia
Key Points Deeproute.ai, a Chinese startup developing autonomous driving systems, announced a $100 million funding round Tuesday from an undisclosed automaker, while emphasizing close ties with chipmaker Nvidia. Pitchbook data showed Chinese company Great Wall Motor led the investment. The startup is also in “deep cooperation” with Nvidia, Maxwell Zhou, CEO of DeepRoute.ai, told reporters […]
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Ford’s October vehicle sales increase 15.2% from subdued levels due to labor strike in 2023
The new Ford F-150 truck goes through the assembly line at the Ford Dearborn Plant on April 11, 2024 in Dearborn, Michigan. Bill Pugliano | Getty Images DETROIT — Ford Motor on Monday reported a 15.2% increase in U.S. new vehicles sales in October compared with subdued levels due to a union strike in October […]
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