6:30 PM ET The Australian Grand Prix will stay in Melbourne until at least 2035 after a 10-year agreement was announced by Formula 1. The new deal begins in 2025 and will also see Formula 2 and Formula 3 join the race weekend schedule for the first time from 2023. The 2022 Grand Prix saw
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WASHINGTON — As the federal government moves forward with a plan to build a nationwide charging network for electric vehicles, it’s “off to the races” for states looking to soothe consumer range anxiety. “This is not going to be the federal government going and buying chargers and putting them in the ground,” Michael Berube, a
Fg Trade | Istock | Getty Images For consumers in search of an affordable new car, there’s little relief on the horizon. The monthly costs to finance a vehicle purchase have hit record highs. Consumers face monthly payments averaging $656 for a new car, financed at 5.1% over 70.5 months (nearly six years), according to
6:14 AM ET Lewis Hamilton was clearly in pain as he parked his Mercedes F1 car after the Azerbaijan Grand Prix and gingerly lifted himself out. For the past 95 minutes, his body had taken a beating within the cockpit, with his back subjected to the full brunt of the car smashing into the track
Cooper-Standard Holdings Inc. said it hired Goldman Sachs & Co. to help it analyze “potential alternatives for refinancing its capital structure,” prompting a negative reaction from investors. The automotive sealing and fluid delivery parts supplier saw its stock value plunge 20 percent to just over $4 per share as of Wednesday afternoon. That’s less than
In this article F The Mustang Mach-E is Ford’s first new all-electric vehicle under an $11 billion investment plan in electrified vehicles through 2022. Michael Wayland | CNBC Ford Motor‘s CFO said Wednesday that the company isn’t yet seeing consumer demand for new vehicles drop off – but rising commodity costs have wiped out the
11:57 AM ET Romain Grosjean’s combative nature has earned him few fans within the IndyCar paddock. Chris Graythen/Getty Images We have brought you here today, during this week when NASCAR and IndyCar are off and only Formula One is on the racing calendar (Canadian GP, Sunday, 2 p.m. ET; stream live on ABC) to discuss what
DETROIT— General Motors plans to invest more than $81 million to build the Celestiq, Cadillac’s flagship electric vehicle, at the automaker’s Global Technical Center. The Celestiq, expected to launch next year, will be the first vehicle built at the Warren, Mich., tech center, which has been GM’s engineering and design hub since the 1950s. The
Front driver’s side view of the Celestiq show car, which GM is expected to unveil in late-July. GM DETROIT – General Motors on Wednesday said it is investing $81 million at its global design and technology campus in suburban Detroit to hand build the upcoming Cadillac Celestiq – a new electric flagship car for the
WASHINGTON — For the first time, the nation’s top highway safety agency released data on crashes involving vehicles with advanced driver-assist systems or automated-driving systems activated. NHTSA, cautioning that the data is preliminary and lacks proper context, said the vast majority of crashes of vehicles equipped with Level 2 ADAS were reported by Tesla Inc.
In this article TSLA The NTSB released this image of a 2021 Tesla Model 3 Long Range Dual Motor electric car that was involved in a fatal accident near Miami that killed two people on Sept. 13, 2021. NTSB Tesla vehicles have accounted for nearly 70% of reported crashes involving advanced driver-assist systems since last June,
Stellantis said on Tuesday it will begin an indefinite layoff starting next week at its Sterling Heights stamping plant near Detroit. The world’s fourth largest carmaker did not specify the number of employees being laid off but said, in an emailed statement to Reuters, that the decision was made “in order to operate the plant
In this article F People visit Ford’s all-electric SUV Mustang Mach-E at the 2019 Los Angeles Auto Show in Los Angeles, the United States, Nov. 22, 2019. Xinhua via Getty Images DETROIT – Ford Motor is instructing dealers to temporarily stop selling electric Mustang Mach-E crossovers due to a potential safety defect that could cause
7:26 AM ET Associated Press Organisers of a motorcycle race on the Isle of Man in the Irish Sea will investigate the reasons behind five competitors dying in crashes in the 2022 event. ACU Events Ltd., which runs the Isle of Man TT Races, said it will “systematically analyse every aspect” of the incidents that
BERLIN — Volkswagen Group resumed a three-shift operation at its EV factory in Zwickau, Germany, starting Monday, June 13. Output at the plant, which builds full-electric cars for the VW, Audi and Cupra brands, is expected to increase to up to 1,300 vehicles a day, Automotive News sister publication Automobilwoche reported. After Russia’s invasion of
German automaker Volkswagen is one of state-owned automaker SAIC’s foreign partners in China. Pictured here on June 7, 2022, is the joint venture’s factory in Shanghai. Qilai Shen | Bloomberg | Getty Images BEIJING — Factories in two of China’s Covid-hit economic hubs have mostly resumed work as the impact of the virus subsides, according
As Electric Last Mile Solutions Inc. prepares to liquidate under Chapter 7 bankruptcy, the company’s rollercoaster ride is a sobering lesson for startups and investors in the EV space, according to industry observers. ELMS excited investors with its concept of electric last-mile delivery vans, reaching a $1.4 billion market value shortly after it started trading
In this article GM Mary Barra, Chair and CEO of the General Motors Company (GM), speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. Patrick T. Fallon | AFP | Getty Images DETROIT – Shares of General Motors on Monday closed below the post-bankrupt automaker’s $33 initial public offering