In this article RIVN R.J. Scaringe, Rivian’s CEO, introduces the world to his company’s R1T all-electric pickup and all-electric R1S SUV at the Los Angeles Auto Show in Los Angeles, California, November 27, 2018. Mike Blake | Reuters Rivian Automotive quickly backtracked from a plan to increase prices on vehicles that had already been ordered
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Volkswagen Group has joined the exodus of companies from Russia, suspending exports to and local production in the country in response to its invasion of Ukraine. The move affects VW’s two factories in Russia that produce Volkswagen brand and Skoda models, the maker of Porsche, Lamborghini and Bentley cars, popular with Russia’s elite, said Thursday.
Toyota Motor North America said it will allocate $110 million toward expanding its education initiative and helping 14 communities near its U.S. operations. Last fall, Toyota helped open a science, technology, engineering and math, or STEM, elementary and middle school in Dallas. The Driving Possibilities initiative, led by the Toyota USA Foundation, will help build
Breaking news. Updates coming The full letter can be seen below but key paragraph: For anyone with a Rivian preorder as of the March 1 pricing announcement, your original configured price will be honored. If you canceled your preorder on or after March 1 and would like to reinstate it, we will restore your original
The M stands for More in the updated 2022 BMW X3 M Competition. The top tune of the performance crossover dials up 503 hp and 479 lb-ft of torque from its turbocharged inline-6 this year, representing 37 lb-ft more than last year’s model. More is better. The 0-60 mph time drops from 4.0 to 3.7
6:19 AM ET Formula One has confirmed it has terminated its contract with the promoter of the Russian Grand Prix, meaning the sport has no plans to hold a race in the country in the future. The news comes in the wake of Russia’s invasion of Ukraine and follows F1’s decision last week not to
Elon Musk, Tesla CEO, stands in the foundry of the Tesla Gigafactory during a press event. Patrick Pleul | picture alliance | Getty Images Tesla and Elon Musk are facing a trial over the CEO’s 2018 pay package, which was worth around $2.5 billion at the time it was granted. Shareholder Richard J. Tornetta sued
BERLIN — Porsche will halt production at its factory in Leipzig, Germany, due to supply-chain problems stemming from the conflict in Ukraine. The factory was forced to suspend production from Wednesday afternoon until the end of next week, a Porsche spokesman said in an emailed statement to Automotive News Europe. Porsche builds the Macan and
TOKYO — A Tokyo court has found the former Nissan executive Greg Kelly guilty of playing a role in helping former boss Carlos Ghosn allegedly hide more than $80 million in deferred compensation. But after more than three years of prosecution, Kelly, 65, was given a six-month suspended sentence by chief judge Kenji Shimotsu. The
Ford brand reports 123,350 vehicle sales in February in the US (down 20.9% year-over-year). The year-to-date number is 261,141 (also down, by 10.5%). In this background, the company reports electrified vehicle – xEVs (BEVs, PHEVs, HEVs) sales at 8,984 (Ford and Lincoln brands), which is down 3.1% year-over-year. That’s over 6.9% of the total volume
6:51 AM ET Russian licensed drivers, such as Haas’ Nikita Mazepin, will not be allowed to compete at the British Grand Prix, it was announced on Wednesday. David Richards, Chair of Motorsport UK, and the organisation’s board confirmed in a statement that Russian and Belarusian licensed competitors would not be approved to participate in UK
In this article F Ford has started initial pre-production of its electric F-150 Lightning pickup truck at a new plant in Dearborn, Mich. Michael Wayland | CNBC Ford Motor plans to produce more than 2 million electric vehicles annually and generate a 10% adjusted operating profit margin by 2026, the company announced Wednesday as part
Automakers including Volkswagen, BMW and Porsche are struggling to obtain crucial wire harnesses as suppliers in western Ukraine have been shuttered by the Russian invasion of the country, forcing production stops at car factories in Germany. Production of the part, needed for organizing miles of vehicle cables, has affected suppliers including Leoni, Fujijura and Nexans.
Russia’s invasion of Ukraine is starting to create ripple effects in the automotive supply chain. The attack also has prompted companies to stop shipping to Russia or suspend operations there. Here are some of the impacts on the auto industry: Europe’s auto production crashes as flow of wire harnesses dries up Automakers including Volkswagen, BMW
Ford Motor Co.’s use of Model e as the name of its new electric-vehicle unit comes eight years after dashing Elon Musk’s hopes for a provocatively named lineup of cars from Tesla Inc. “A friend asked me at a party, ‘What are you going to name the third-generation car?’ Well, we have the S and
Join Automotive News at noon EST today for a live discussion on our LinkedIn and Facebook pages about industry innovation and how to apply for our annual PACE and PACEpilot Awards. For 28 years the Automotive News PACE program has honored superior innovation, technology and business performance among auto suppliers. Executive Editor Jamie Butters will
By Simon Alvarez Posted on March 2, 2022 It appears that Ford was really saving its “Model e” trademark for good reason. In a recent announcement, Ford revealed that it would be reorganizing its operations to separate its electric and internal combustion engine businesses. The two divisions will be called “Ford Model e” and “Ford
Swedish electric performance brand Polestar has taken the wraps off its latest concept, the O2 (like the oxygen molecule), and much like 2020’s Precept concept, it is an absolute stunner. The 2+2 convertible sports car is a nice change of pace from the electric SUVs that look great on balance sheets, but don’t stir the