Month: April 2023

Tesla is preparing to launch Powerwall 3, the third generation of its home battery pack, according to information obtained by Electrek. In 2015, when launching its Tesla Energy division, Tesla launched the first generation of the Powerwall, and it quickly became by far the most popular home battery pack in the residential market. Shortly after,
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BMW’s XM performance SUV revealed last September to mark 50 years of BMW M has spawned a more powerful range topper. It’s called the XM Label Red, and its hybrid V-8 powertrain pumps out a heady 738 hp—a figure that makes it the most powerful road-going vehicle ever developed by BMW M. It’s also a
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Edward Brown III, a former banking executive who spent the last decade of his career leading Hendrick Automotive Group as CEO, died April 3 at age 74. Brown had non-Hodgkin lymphoma, according to an obituary published by the Charlotte Observer. Brown joined Hendrick Automotive, one of the country’s largest dealership groups, in 2010 as its
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The next-generation, two-door hardtop electric Mini Cooper will be shorter and lighter than the current model and built on a dedicated electric vehicle platform. Mini released images previewing the two-door hardtop all-electric Cooper on Tuesday. According to media reports, it will pack 40 kilowatt-hour and 54-kWh batteries. The current 181-hp electric Mini Cooper provides an
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ROME — Ferrari will use Samsung Display’s organic light-emitting diode (OLED) display panels in future models. The South Korean company will develop “bespoke OLED technology display solutions” for the next generation of Ferrari cars, the automaker’s CEO Benedetto Vigna said in a statement on Tuesday. No financial details were disclosed. Vigna has previously said that
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Capital One has decided to terminate its auto dealer services business offering floorplan lending. “We will be winding down that work this year,” a Capital One spokesperson told Automotive News in a written statement. “This has no impact on the CapitalOne Auto Finance business. Our auto business remains well-positioned to support our dealer partners and
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WASHINGTON — The U.S. Energy Department is proposing an update to a decades-old calculation that determines the petroleum-equivalent fuel economy of electric vehicles for NHTSA’s fuel economy standards. The proposed rule-making is in response to a 2021 petition submitted by two environmental groups, the Natural Resources Defense Council and Sierra Club, which argued the calculation
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