Lear Corp. will open an $80 million plant and create hundreds of jobs in Michigan after winning a program with General Motors Co. that marks its largest electric vehicle deal and investment to date, the supplier said Thursday. The Southfield-based company struck a deal with the automaker to exclusively supply the battery disconnect unit on
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Ford Motor (F) reported a top- and bottom line beat for the third quarter after the closing bell on Wednesday, while demonstrating solid free cash flow — a key reason why the Club continues to back the automaker. Automotive revenue climbed 12% year-on-year, to $37.2 billion, beating analysts’ forecasts of $36.25 billion, according to estimates
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
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
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
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
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
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,
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
ELLABELL, Ga. — Hyundai Motor Group broke ground Tuesday on a mammoth $5.54 billion manufacturing project that will produce electric vehicles and batteries for the Hyundai, Genesis and Kia brands. Jose Munoz, Hyundai’s global chief operating officer, said the dedicated EV factory, to be called the Metaplant, will build up to six models and have
Hyundai executives and government officials break ground on the automaker’s new “Metaplant America” in Bryan County, Georgia, on Tues., Oct. 25, 2022. CNBC | Michael Wayland SAVANNAH, Ga. – South Korean officials are working closely with the U.S. government to adjust restrictive regulations on electric vehicles under the recently passed Inflation Reduction Act, according to
6:27 PM ET Fernando Alonso believes Formula One and the FIA’s race regulations are set for a crucial moment after his Alpine team appealed the penalty which knocked him out of the points at the U.S. Grand Prix. Alonso finished seventh in Austin, Texas, despite being sent airborne at one stage in a 200 mph
Mullen Automotive has tapped former General Motors executive John Schwegman to be the electric vehicle maker’s chief commercial officer. Schwegman spent 35 years at GM in a variety of marketing-related roles, most recently senior director of global Chevrolet product marketing, according to his LinkedIn profile. Mullen, of Brea, Calif., said Schwegman will primarily focus on
In this article MBG-DE NK-FR Follow your favorite stocksCREATE FREE ACCOUNT A Lithium-ion battery photographed at a Volkswagen facility in Germany. The EU is looking to increase the number of electric vehicles on its roads in the coming years. Ronny Hartmann | AFP | Getty Images Paris-headquartered minerals giant Imerys plans to develop a lithium
7:07 AM ET Associated Press NASCAR Hall of Famer Tony Stewart will make his drag racing debut this weekend at the NHRA Nevada Nationals at Las Vegas Motor Speedway. Stewart will compete for McPhillips Racing in a Top Alcohol dragster — the equivalent of NASCAR’s second-tier Xfinity Series. “I’m excited and nervous at the same
A major blaze in South Korea that knocked out a wide range of key digital services for days — snarling banking, ride-sharing and online deliveries — is reigniting safety concerns in a nation that’s a key global supplier of lithium-ion cells used in electric vehicles. The days-long outage followed a fire Oct. 15 at a
In this article BYDDF XPEV LI NIO Follow your favorite stocksCREATE FREE ACCOUNT Nio began deliveries of its new ET7, an upscale electric sedan, on Monday, March 28, 2022. Nio U.S.-traded shares of Chinese electric vehicle makers were among those hit by a dramatic sell-off Monday, as investors soured on non-state-run Chinese companies following a
10:15 PM ET AUSTIN, Texas — Fernando Alonso has been relegated from seventh to 15th at the U.S. Grand Prix following a protest from rival team Haas. Alonso turned in a memorable performance in Austin after being sent airborne in a collision with Lance Stroll on lap 22, which left his car damaged. He recovered