Jun 26, 2023, 12:09 PM ET British racing team Hitech have applied to enter a team in Formula One from 2026 with investment from Kazakh billionaire businessman Vladimir Kim. Hitech Global Holdings, which owns and operates Hitech Grand Prix, said in a statement on Monday it had agreed the sale of a 25% interest to
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Nobel laureate John Goodenough, a pioneer in the development of lithium-ion batteries that today power millions of electric vehicles around the globe, died on Sunday just a month short of his 101st birthday. The American was “was a leader at the cutting edge of scientific research throughout the many decades of his career,” said Jay
In this article F Follow your favorite stocksCREATE FREE ACCOUNT Ford CEO Jim Farley at a battery lab for the automaker in suburban Detroit, announcing a new $3.5 billion electric vehicle battery plant in the state to produce lithium iron phosphate batteries, Feb. 13, 2023. Michael Wayland/CNBC DETROIT — Ford Motor confirmed Monday it will
Jun 26, 2023, 02:35 AM ET Hollywood actors Ryan Reynolds and Rob McElhenney are joining Otro Capital and RedBird Capital Partners in an investor group taking a 24% equity stake in Alpine Racing, the Formula One team’s parent company Renault announced on Monday. The €200 million ($218.10m) deal values British-based Alpine Racing at around $900m
Aston Martin struck a strategic supply agreement for high performance EVs that will see the U.S.-based Lucid Group getting a roughly 3.7 percent stake in the U.K. automaker. As part of the agreement, Aston Martin will issue about 28.4 million new ordinary shares to Lucid, which will also get phased cash payments, totaling an aggregated
Power management giant Eaton Corp. plans to open a new electrification research lab in Michigan and create 100 EV-focused jobs at several sites in Michigan. The company, domiciled in Ireland with a North American base in Beachwood, Ohio, is looking to invest $22.5 million to expand its plant in Calhoun County’s Eckford Township and increase
With dealership service technicians in short supply, General Motors says it’s seeing some improvement toward building a talent pipeline. Enrollment in GM’s Automotive Service Educational Program, which trains aspiring technicians through a partnership mostly with community colleges across the U.S., is at a 10-year high, said Eric Kenar, GM’s manager of technician environment and service
Associated Press Jun 24, 2023, 07:27 PM ET LEBANON, Tenn. — A.J. Allmendinger pulled away on the second overtime restart Saturday to win his second NASCAR Xfinity race this year and 17th of his career at the Nashville Superspeedway in the Tennessee Lottery 250. The 41-year-old Allmendinger pitted on Lap 145 and used fresher tires
WASHINGTON — U.S. auto safety regulators said on Saturday they are investigating Ford Motor Co.’s prior recalls of 710,000 Explorer large crossovers over power loss reports to determine if the fix is adequate. The National Highway Traffic Safety Administration noted the No. 2 U.S. automaker issued recalls in April 2022 and March on Ford Explorers from
In this article TSLA F Follow your favorite stocksCREATE FREE ACCOUNT CNBC’s Jim Cramer said Tuesday that many on Wall Street have it all wrong when it comes to legacy automaker Ford. “I think there’s real value here in Ford, more value than is captured by its $14 share price even with that 4.25% yield,”
TOKYO — Nissan Motor Co. has started an investigation into claims by a senior adviser that CEO Makoto Uchida carried out surveillance of his deputy Ashwani Gupta, four people with direct knowledge of the matter said. The surveillance claims, first reported by the Financial Times, were made by Hari Nada, 58, a senior adviser at
In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT A Tesla Model Y is seen on a Tesla car lot on May 31, 2023 in Austin, Texas. Brandon Bell | Getty Images A security researcher who uses the handle “@GreentheOnly” has discovered a secret setting in Tesla vehicles that can be enabled by the
Washington state plans to require electric vehicle charging companies to include Tesla‘s plug if they want to be part of a state program to electrify highways using federal dollars, an official told Reuters on Thursday. Washington follows Texas’ move to mandate Tesla’s technology, The North American Charging Standard (NACS), adding momentum to CEO Elon Musk‘s
Ford Motor (F) is reportedly gearing up for a new round of layoffs, just as the automaker secured a major loan from the U.S. government to produce batteries — two developments that should accelerate the Club holding’s efforts to become a top player in the electric-vehicle market. As CEO Jim Farley continues to rein in
Michael Schumacher came out of retirement to race for Mercedes between 2010 and 2012. Mark Thompson/Getty Images Mick Schumacher will drive his father Michael’s 2011 Mercedes Formula One car at the Goodwood Festival of Speed in July. Schumacher is currently a reserve driver for Mercedes, who his father raced for between 2010 and 2012 after coming
LAS VEGAS — Lithium producers are growing anxious that delays in mine permitting, staffing shortages and inflation may hinder their ability to supply enough of the battery metal to meet the world’s aggressive electrification timelines. Once a niche metal used primarily in ceramics and pharmaceuticals, lithium is now one of the world’s most in-demand metals
In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT CEO of SpaceX and Tesla, and owner of Twitter, Elon Musk, at the Viva Technology conference at the Porte de Versailles exhibition center on June 16, 2023 in Paris, France. Chesnot | Getty Images News | Getty Images Tesla CEO Elon Musk says he is
Hazel Southwell Jun 22, 2023, 09:19 AM ET Formula E once had everything F1 wanted. Now it’s searching for relevance. Manuel Romano/NurPhoto via Getty Images To a backdrop of sweeping, mid-season leadership changes, Formula E is making another attempt at cracking the United States. Saturday’s race in Portland puts the all-electric open-wheel series in competition with