Ford said it would exit Russia, after the automaker finalized a deal to sell its 49 percent stake in the Sollers Ford joint venture. “Ford shares will be transferred to the Joint Venture for a nominal value,” the company said on Wednesday, adding that it retains the option to buy them back within a 5-year
Month: October 2022
4:07 AM ET Audi will enter Formula One in 2026 as the partner of the Sauber team, which currently races as Alfa Romeo. In August, Audi confirmed it would be joining F1 as an engine constructor when it introduces new regulations, but did not confirm which team that would be with. On Wednesday it was
Lamborghini has partnered up yet again with Culti Milano, a maker of candles, lotions, and other smelly stuff, to make a product for the home that seeks to capture the essential spirit of Lamborghini and bottle it. Together they have come up with a new diffuser (of the reedy variety, not the aerodynamic variety) whose
DETROIT — Ford Motor Co. on Wednesday posted a third-quarter loss of $827 million that it largely blames on newly revealed plans to shut down Argo AI, a self-driving vehicle development company the automaker had invested in heavily. CEO Jim Farley said the company now believes mass deployment of fully self-driving vehicles is “a long
Self-driving startup Argo AI will shut down operations and its employees and parts will be absorbed by its main backers, Ford Motor Co. and Volkswagen Group, TechCrunch reported on Wednesday, citing people familiar with the matter. Argo employees were told that some of them would receive offers from the two automakers, TechCrunch said, adding that
In this article DAII-FF Follow your favorite stocksCREATE FREE ACCOUNT 2022 Mercedes-Benz EQS EV Mercedes-Benz Mercedes-Benz finance chief on Wednesday told CNBC the automaker’s pricing of its cars in China is “well-supported” after U.S. electric vehicle giant Tesla slashed prices. “We definitely see the demand being well but also we see the pricing levels we
By Simon Alvarez Posted on October 26, 2022 The electric vehicle transition is hitting its pace, and battery suppliers definitely seem to be feeling it. Tesla supplier LG Energy Solution (LGES), for one, recently upped its revenue guidance by 14% after quarterly profit beat forecasts on strong demand from EV makers. LG Energy Solution noted
BERLIN/MOSCOW — Mercedes-Benz will withdraw from the Russian market and sell shares in its industrial and financial services subsidiaries to a local investor, becoming the latest automaker to exit the country. Mercedes-Benz Russia said shares in the local subsidiaries would be sold to car dealer chain Avtodom. Mercedes Chief Financial Officer Harald Wilhelm, while presenting
1:07 PM ET Associated Press Colton Herta has signed a four-year contract extension with Andretti Autosport that ties the American racer to the IndyCar team through 2027 and indicates Herta has put a pause on his Formula One ambitions. The extension announced Tuesday is significant because it shuts out the biggest teams in IndyCar from
Hertz has been sued by a customer who was held at gunpoint by police after his rental vehicle was allegedly falsely reported as stolen by the rental car giant. Nicholas Wright rented a car with his 13-year-old daughter in October last year from Hertz subsidiary Thrifty. Just 30 minutes later, he was surrounded by police
Kia America Inc. said it will recall 71,000 2008-2009 model year Sportage vehicles in the U.S. previously recalled in 2016 for fire risks and is advising owners to park outside until repairs are completed. Kia said the recall fix is currently under development that will address the risk of a fire originating from around the
Mobileye Global Inc., the self-driving technology company owned by Intel Corp., priced one of the biggest U.S. initial public offerings of the year above its marketed range to raise $861 million. The company sold 41 million shares for $21 each, according to a statement Tuesday confirming earlier reports. Mobileye had marketed the shares for $18
In this article F Follow your favorite stocksCREATE FREE ACCOUNT 2023 Ford Escape ST-Line Elite Ford DETROIT — Ford Motor is updating its popular Escape as part of a two-pronged sales strategy alongside the newer, more rugged Bronco Sport in the highly competitive compact SUV segment. Ford expects the new design of the 2023 Escape,
The 2023 Honda Accord debuts in November, but in the meantime Honda has released a teaser of the redesigned mid-size sedan. Honda was short on details—including the actual reveal date—in its brief press release, but confirmed a 12.3-inch touchscreen, Google built-in connectivity (a first for the brand), and “a more responsive and fun-to-drive hybrid powertrain.”
What separates sedans from crossovers, and how important are those differences? Those are two very important questions as the Toyota Crown is returning to America as an “elevated sedan.” A radical departure from the rear-wheel drive variants offered in Japan, the 2023 Crown is a segment bender that follows in the footsteps of the iconic
Volvo will use colors to signal the difference between driver-assisted mode and what it calls “unsupervised autonomous driving” mode in its full-electric flagship. The EX90 driver-focused display screen visual through the steering wheel will use green to signal when the car is using assistance solutions such as lane keeping and adaptive cruise control. This color,
2:17 PM ET Marty Smith Close ESPN ESPN NASCAR lead reporter Former NASCAR.com senior writer 15 years covering NASCAR Ryan McGee Close ESPN Senior Writer Senior writer for ESPN The Magazine and ESPN.com 2-time Sports Emmy winner 2010, 2014 NMPA Writer of the Year A week after being in the middle of an incident with
The first known crash of a 2023 Chevrolet Corvette Z06 appears to have recently occurred in Bloomfield, Michigan, despite the fact that customers deliveries of the supercar have yet to commence. A single image of the damaged ‘Vette was shared to Instagram by user zr1_m7. It shows a black C8 Corvette Z06 sitting in the
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