Mizuho Financial Group and other lenders are in talks with KKR-owned parts supplier Marelli Holdings to renegotiate debt and offer financing to keep it operational, people with knowledge of the matter said. The supplier, previously owned by Fiat Chrysler Automobiles, had at least 1.1 trillion yen ($9.5 billion) in total debt as of September, the
Month: February 2022
It looks like one of the biggest, baddest SUVs in production, the Mercedes-Benz G-Class, is about to get a whole lot tougher with the arrival of a new 4×4 Squared variant. Offered on the previous-generation G-Class in G550 guise, the 4×4 Squared option saw the iconic SUV fitted with some serious off-road gear, including portal
Ford’s new $4,000 Eluminator electric crate motor has proven successful, selling out in the first week. It was popular even though Ford Performance, the arm of the company that sells the motor, doesn’t also offer a battery, so this has to be sourced separately for now. You therefore can’t create something like Ford’s poster vehicle
11:54 AM ET In the coming days, FIA president Mohammed Ben Sulayem will present the governing body’s response to the events of the 2021 Abu Dhabi Grand Prix after promising “structural changes” and an “action plan” in a statement on Monday. Formula One team bosses met with Ben Sulayem in London on Monday to discuss
What kind of vehicle is the 2022 Chevrolet Trailblazer? What does it compare to? The Chevy Trailblazer returned to the party last year as a slimmed-down, reasonably-priced crossover SUV with a stylish bod and less turbocharged power than we’d like to see. Shop it against the Hyundai Kona, Kia Seltos, and Jeep Renegade, among others.
Visitors wearing face masks check a China-made Tesla Model Y sport utility vehicle (SUV) at the electric vehicle maker’s showroom in Beijing, China January 5, 2021. Tingshu Wang | Reuters Six of the seven car brands who ran an ad during the Super Bowl featured electric vehicles, according to analysis published Monday by the online
DETROIT — General Motors is doubling its investment to its Climate Equity Fund — part of a strategy to create equitable climate action — to $50 million. The fund is designed to help close equity gaps in the transition to electric vehicles. GM has said it will invest $35 billion in electric and autonomous vehicle
SAN FRANCISCO — Intel Corp.’s Mobileye unit plans to build and deploy self-driving electric shuttles with its U.S. partners in 2024, in a bid to scale up its automated driving system beyond taxis and delivery vehicles, executives told Reuters. Mobileye, Benteler EV Systems and Beep will launch the on-demand driverless shuttles, which will feature 12
Early in the year is an opportune time to assess your business — what’s working and what’s not — to help revenue grow. A major expense for dealerships is advertising and lead generation. In 2021, the U.S. reached $13.29 billion in automotive digital ad spend, according to eMarketer. Are you paying for channels and vendors
Windsor Mayor Drew Dilkens has declared a state of emergency in an effort to keep trade flowing freely at the Ambassador Bridge on the U.S.-Canada border. For six days, protestors, demanding an end to vaccine and mask mandates — with some calling for the ouster of Prime Minister Justin Trudeau — blocked access to the key
By Joey Klender Posted on February 14, 2022 Volkswagen announced earlier in February that it would pay out another round of “Coronavirus Premium” bouus payments to employees at its German factories “in recognition of their great dedication in recent months working under difficult conditions.” The bonus is worth €500 ($564) and will be paid out
12:15 PM ET Formula One will have three qualifying sprint races in 2022 with points now given out to the top eight rather than just the top three, it was confirmed at Monday’s F1 Commission. The revised weekend format with qualifying on a Friday evening, a sprint race on Saturday and the main race on
What kind of car is the 2022 Chevrolet Traverse? What does it compare to? The Traverse sits atop Chevy’s crossover family lineup, with seating for seven or eight people and a strong V-6 powertrain, coupled to front- or all-wheel drive. It’s a rival for the Honda Pilot, Kia Telluride, Hyundai Palisade, and Subaru Ascent, among
Polestar Electric vehicle start-up Polestar, which is expected to go public this year, used its first-ever Super Bowl ad to indirectly take shots at its competitors, including Tesla and Volkswagen. The 30-second spot, called “No Compromises,” is simple and to the point. It features shots of the company’s Polestar 2 electric vehicle with the word
It’s a tradition as old as the world’s fair: Visions of the next steps in mobility are put on display — this time in Washington, D.C. As part of its “Futures” exhibit, the Smithsonian Institution is showcasing concepts designed to move people in faster, efficient and affordable ways. The displays will be at the museum’s
TOKYO — Racing to catch up on lost production, Toyota will again reduce output in March even as it plans to build a record number of vehicles globally. Toyota, which has repeatedly chopped its fiscal-year production plan, wanted to stretch factory output to the max in March to recover ground lost during the semiconductor shortage.
The five-person C-level leadership team at Fox Dealer consists of four people of color and one woman. More broadly, about half of the Pasadena, Calif., dealership marketing company’s nearly 90-employee work force is made up of people of color, and 35 percent is female, said CEO GianCarlo Alabastro, who is of Filipino descent. The company
NEW YORK — Billionaire investor George Soros bought nearly 20 million shares of electric truck startup Rivian Automotive Inc. in the quarter ended Dec. 31, securities filings showed Friday. The 19,835,761 shares, worth about $2 billion at the time, makes Soros Fund Management among the most prominent investors in the company. Soros, a longtime supporter
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