BERLIN — Volkwagen Group will axe 60 percent of its combustion-powered models by the end of the decade and sell fewer cars overall to concentrate on producing more profitable premium vehicles, finance chief Arno Antlitz told the Financial Times. “The key target is not growth,” Antlitz told the FT. “We are (more focused) on quality
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Elon Musk gestures as he speaks during a press conference at SpaceX’s Starbase facility near Boca Chica Village in South Texas on February 10, 2022. Jim Watson | AFP | Getty Images Tesla CEO Elon Musk has been buying Twitter shares on almost a daily basis since the end of January, spending $2.64 billion for
California EV startup Rivian Automotive reported first-quarter production of 2,553 vehicles from its Normal, Ill., manufacturing plant and 1,227 deliveries during the same period as it continues to struggle with supply-chain issues felt throughout the global auto industry. “These figures are in line with the company’s expectations, and it believes it is well positioned to
12:10 AM ET “What the hell is wrong with this guy?” CS Santosh often looked into the mirror and wondered. He had no broken bones, no visible scars. On the outside, he was a guy who appeared completely normal. Yet he couldn’t sit up without serious effort, couldn’t walk without support and felt inexplicably drowsy
Did Elon Musk break securities laws again? Former securities officials and professors said Tesla CEO Musk might have missed a key disclosure deadline when he bought 9 percent of Twitter. And Securities and Exchange Commission regulators could use any shortfall to try to punish Musk more for other lapses, some believe. Musk on Monday disclosed
In this article HTZ Swedish electric vehicle maker Polestar will supply up to 65,000 vehicles to car rental giant Hertz Global over the next five years, the two companies announced Monday morning. Hertz will begin making fully electric Polestar 2s available via its network in Europe this spring, and in North America and Australia before
In this article F An employee works on the 40 millionth Ford Motor Co. F-Series truck on the assembly line at the Ford Dearborn Truck Plant on January 26, 2022 in Dearborn, Michigan. Jeff Kowalsky | AFP | Getty Images DETROIT – Ford Motor’s U.S. sales of new vehicles declined 17% during the first quarter,
Group 1 Automotive Inc. has purchased a Toyota dealership in New Mexico from Asbury Automotive Group Inc. — a store Asbury had owned for just a few months. Group 1 said Monday that it bought Larry H. Miller Toyota Albuquerque on Friday, marking the public auto retailer’s 17th Toyota dealership in the U.S. It renamed
10:07 PM ET Associated Press LAS VEGAS — Brittany Force beat out three other world champions to pick up her first NHRA win of the season at the Four-Wide Nationals at The Strip at Las Vegas Motor Speedway on Sunday. The 2017 world champion had a run of 3.718-seconds at 338.00 mph in the championship
Tesla Inc. CEO Elon Musk has built a 9.2 percent stake in Twitter Inc., a regulatory filing showed on Monday, sending the micro-blogging site’s shares soaring 24 percent in premarket trading as of 7 a.m. EDT. In late March the silicon valley billionaire said he was giving “serious thought” to building a new social media
TOKYO — After running the gauntlet through Japan’s justice system for the past three years, former Nissan director Greg Kelly was triumphantly escorted to the Tokyo airport last month by the U.S. ambassador to fly home to Tennessee. Kelly may now be back home, but he is hardly home free. The former human resources executive’s
In this article 2015-HK 9868-HK 9866-HK Chinese electric carmakers Nio, Xpeng and Li Auto are facing several headwinds including higher raw material costs and a resurgence of Covid in China. However, they all posted a surge in March delivery volumes. Qilai Shen | Bloomberg | Getty Images Chinese electric vehicle start-ups Nio, Xpeng and Li
There’s a giant whiteboard on the wall in a Michigan office building where the problems of the world are listed and tracked in minute detail. The colorful papers hanging there — tracking earthquakes and tsunamis, fires and floods, coronavirus hot spots and even wars — aren’t just the world’s problems, though. They’re Bob Young’s problems,
Tesla Inc. delivered a record 310,048 cars worldwide in what Elon Musk said was an “exceptionally difficult” first quarter, as a growing tide of consumers made the switch to EVs. The results, posted Saturday, slightly edged out expectations. Analysts had expected that 309,158 vehicles would be shipped, based on the average of estimates compiled by
Customers experience new energy electric vehicles at a Tesla store in Shanghai, China, On December 4, 2021. Future Publishing | Future Publishing | Getty Images Tesla just reported first-quarter vehicle production and delivery numbers for 2022. Here’s how they did. Electric vehicle deliveries (total): 310,048 Electric vehicle production (total): 305,407 Over the same period last year, Tesla
As Nissan gears up to launch a wave of pricey next-generation electric vehicles, the EV pioneer is turning to its dealers to share in some of the financial pain. The Japanese automaker is considering a cut of 2.5 percentage points in dealer margins on the Nissan Ariya, a 300-mile electric crossover set to arrive in
Filling up at the pump comes with a hefty dose of sticker shock. Russia’s invasion of Ukraine and global supply concerns have sent gas prices to record highs — hitting $6 in some parts of the country. To combat the spike in energy costs, the White House said it will release 1 million barrels of
8:47 AM ET Seven-times Formula One world champion Lewis Hamilton spoke about his mental and emotional struggles, saying in a social media post on Thursday that it was “hard some days to stay positive.” The 37-year-old Briton assured fans on Instagram that they were not alone. “It’s been such a tough year already with everything