In this article RMO NKLA Nikola Motor Company Two truck Source: Nikola Motor Company Electric heavy truck maker Nikola said Monday that it struck a $144 million deal to acquire battery pack supplier Romeo Power, giving the company control over a key part of its supply chain. The all-stock transaction values Romeo at 74 cents
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Jul 29, 2022 Associated Press INDIANAPOLIS — Josef Newgarden kept the focus simple all week. He ignored the cellphone, avoided social media and spent 48 hours resting, hopeful it would help him recover from the head injury he suffered last weekend and stay in the IndyCar championship hunt. Now all he needs is another strong
DETROIT — General Motors is asking dealers to help prevent customers from quickly flipping high-demand vehicles and adding exorbitant markups. The automaker is barring customers who resell certain high-demand vehicles within 12 months from placing future reservations and orders. GM also is limiting the transfer of certain warranties. Steve Carlisle, president of GM North America,
In this article F 2023 Ford F-150 Raptor R Ford DETROIT — Ford Motor’s stock on Monday added to its best month since the Great Recession in 2009, signaling a significant swing for the Detroit automaker this year. Shares closed Monday at $15.34, up 4.4%. The gains added to the stock increasing by 31.9% in
8:25 PM ET Associated Press KENT, Wash. — Tony Schumacher raced to his 86th victory and first since 2020, beating Top Fuel points leader Brittany Force on Sunday in the Flav-R-Pac NHRA Northwest Nationals at Pacific Raceways. Schumacher, 52, had a 3.977-second run at 251.34 mph against Force in the final for the eight-time season
EchoPark’s growing map Used-vehicle seller EchoPark, launched by Sonic Automotive in 2014 as a single store in the Denver market, has expanded to 50 outlets nationwide, including 3 locations that opened in the 2nd quarter. Sonic says EchoPark is on pace to reach 50% U.S. population coverage by the end of 2022 and 90% by
In this article F 2023 Ford Maverick Tremor Source: Ford Ford Motor is adding a new off-road-ready package to its Maverick pickup in a bid to extend the sales success of its hot-selling small truck. The new Maverick Tremor package includes a beefed-up, higher-riding suspension and a new all-wheel-drive system system powered by Ford’s
Jul 30, 2022 Associated Press INDIANAPOLIS — Alexander Rossi snapped a 49-race losing streak that dated all the way back to the 2019 IndyCar season by winning at one of his favorite tracks. Rossi won Saturday on the road course at Indianapolis Motor Speedway, where his 2016 victory in the 100th running of the Indianapolis
The uncertainty of the global microchip shortage continued to eat away at many automakers’ profits in the second quarter, though some companies managed sizable increases in production and earnings. Most automakers that reported earnings last week said they expect better chip supplies in the second half of the year and remained profitable despite stubbornly low
In this article F Jim Farley, Ford CEO Ford Electric vehicle batteries are in short supply, and costs for materials such as nickel and cobalt are surging. Yet legacy automaker Ford Motor says it plans to be profitably building millions of EVs a year in just four years. This week, the Detroit automaker gave investors
9:25 PM ET Associated Press KENT, Wash. — Top Fuel leader Brittany Force closed qualifying at Pacific Raceways on Saturday by taking the No. 1 position in the NHRA Northwest Nationals. The event winner last week in Sonoma, California, Force had a 3.753-second run at 327.35 mph for her fifth No. 1 of the season
Retail technology giant Reynolds and Reynolds Co. on Friday acquired Proton Dealership IT, which offers dealerships cybersecurity and information technology products and services. Reynolds, a Dayton, Ohio-based dealership management system provider, did not disclose a transaction price. Leaders of the two companies said they began speaking about a potential acquisition in March. Reynolds’ deal to
Ford Motor (F) reported better-than-expected quarterly results after the closing bell Wednesday, and raised its dividend payout by 50%, helping send shares more than 6% higher in extended-hours trading. Total revenue of $40.2 billion exceeded the consensus estimate on FactSet of $36.87 billion. Adjusted EBIT (earnings before interest and taxes, or operating income) was $3.7
6:16 PM ET Associated Press INDIANAPOLIS — AJ Allmendinger continued his dominance of NASCAR road course racing and set himself up for a sweep at Indianapolis Motor Speedway with a victory Saturday in the Xfinity Series. Allmendinger has won six of the past 11 road course races — nine in his NASCAR career — and
Jim Farley, CEO of Club holding Ford Motor (F), was interviewed by “Mad Money” host Jim Cramer for Wednesday evening’s show. The chief executive discussed the automaker’s plans to manage the chip shortage, cost pressures and their initiatives to scale electric-vehicle production. The interview ran after Ford reported a solid quarter after the bell. 1.
Buckeye Honda has worked to overcome inventory shortages by creating an interactive research hub where online shoppers can get an up-close look at a vehicle even if it’s not in stock. The Lancaster, Ohio, dealership deployed a virtual configurator on its site this spring called izmoEmporio that lets users personalize new Honda models with accessories
11:19 PM ET Associated Press KENT, Wash. — Steve Torrence led Top Fuel qualifying Friday in the Flav-R-Pac NHRA Northwest Nationals at Pacific Raceways. Torrence had a 3.819-second run at 321.50 mph in the NHRA’s first event at the track since 2019. The four-time defending series champion is winless this season. “We were very pleased
SAN FRANCISCO — Rivian’s retro-futuristic R1T pickup remains scarce on the streets of the Bay Area, but some locals have discovered a cluster of the highly acclaimed electric truck by the San Francisco airport. There, in a commercial area near an Amazon warehouse, Rivian’s South San Francisco Service Center is chock-full of R1Ts coming in