3:07 PM ET The FIA has decided not to ban Russian drivers from motorsport in the wake of the country’s military invasion of Ukraine, allowing Nikita Mazepin to remain in Formula One with Haas. Motor racing’s governing body decided Tuesday that a ban would only extend to drivers competing under the flag of Russia or
News
In this article GM RIDE The Lordstown Motors factory is where GM once operated, in Lordstown, Ohio, on October 16, 2020. Megan Jelinger | AFP | Getty Images General Motors sold its stake in Lordstown Motors during the fourth quarter following an undisclosed lock-up period, the Detroit automaker confirmed Tuesday. GM owned 7.5 million shares
DETROIT — General Motors has sold its stake in beleaguered EV startup Lordstown Motors. GM sold its 7.5 million shares over the course of the fourth quarter, GM spokesman Jim Cain told Automotive News. The Detroit Free Press reported the sale earlier Tuesday. GM invested in Lordstown in August 2020 “to help facilitate the sale
4:13 AM ET Formula One’s governing body FIA will convene an extraordinary meeting of its World Motor Sport Council (WMSC) on Tuesday after a number of sporting federations banned Russian athletes from competing internationally following Russia’s invasion of Ukraine. The International Olympic Committee (IOC), which granted recognition to the FIA in 2012, on Monday recommended
SpaceX founder and Tesla CEO Elon Musk visits the construction site of Tesla’s gigafactory in Gruenheide, near Berlin, Germany, May 17, 2021. Michele Tantussi | Reuters Shares of Tesla rose more than 7% to close at $870.43 on Monday after reports out of Germany indicated that the company is close to receiving approvals to begin
Used-car online auction company ACV Auctions Inc. said Monday it completed a $19 million acquisition of Monk SAS, an artificial intelligence solutions company that automates vehicle damage detection. The acquisition is ACV’s latest step in building up its slate of digital products aimed at dealers and commercial partners. The AI option can help dealer customers
8:36 AM ET Ukraine’s motor racing federation has asked Formula One’s governing body, the FIA, to ban all Russian and Belarusian drivers amid the ongoing war in its country. If the request is accepted it would prevent Russian driver Nikita Mazepin from racing for Haas in F1. Russian military invasion of Ukraine has caused widespread
Lucid Air Courtesy: Lucid Motors Lucid Group is cutting its car production forecast for this year by as much as 40%, sending shares of the electric vehicle start-up tumbling 13% during after hours trading. The company on Monday cited supply chain constraints and parts quality issues for slashing production to between 12,000 and 14,000 vehicles,
BERLIN — The environmental ministry in the German state of Brandenburg is in the final phase of the approval process for Tesla Inc.‘s planned factory, a spokesperson said on Monday. Tesla is awaiting approval for a licence to begin production at its EV factory and adjacent battery plant in Gruenheide, outside of Berlin. Numerous public
7:08 PM ET Associated Press CHANDLER, Ariz. — Robert Hight raced to his second straight Funny Car win to open the NHRA Camping World Drag Racing Series season, beating Matt Hagan on Sunday in the NHRA Arizona Nationals. In a matchup of two three-time season champions at Wild Horse Pass Motorsports Park, Hight had a
Nio Founder and CEO William Li poses outside of the New York Stock Exchange to celebrate his company’s IPO. Photo: NYSE BEIJING — U.S.-listed Chinese electric car company Nio is set to offer its shares for trading in Hong Kong on March 10, the start-up announced Monday. The move comes as regulatory risks grow in
An Israeli nanotechnology startup wants to supersize — and smarten — the conventional head-up display. Spectralics, which has drawn interest and investment from Volvo Cars, has developed a hardware development kit for imaging systems, with a novel thin optical film technology as one of its core components. When integrated into a vehicles’ windshield, the film
3:15 PM ET Associated Press ST. PETERSBURG, Fla. — Scott McLaughlin at last showed his long move from Australia to the United States was worth the gamble, getting his first IndyCar Series win on Sunday in the season-opening race through the downtown streets of St. Petersburg. Now the native New Zealander will have to see
In this article TSLA 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 told CNBC that he is glad to see the Justice Department is investigating short sellers,
Kiwibot’s semiautonomous sidewalk- delivery robots are set to roll around a lot more college campuses delivering food to students this year. The Miami-based company this month announced new business from Sodexo North America that, combined with existing Sodexo business, will total $20 million this year. Today, Kiwibot has 200 robots delivering Sodexo food on 10
5:29 AM ET Alfa Romeo has revealed a striking new take on its traditional Formula One colours for the new season. Alfa Romeo’s C42 car made its debut this week during F1’s first preseason test running a black and white camouflage livery. On Sunday it revealed its new look for the coming season. Alfa’s car
A couple inspects the Monroney sticker on a Ford vehicle at the Helfman Ford dealership on October 28, 2021 in Houston, Texas. Brandon Bell | Getty Images The surge in auto prices in the second half of 2021 has pushed more consumers to take out auto loans that stretch beyond six years, according to a
Hoping to attract more drivers, Uber Technologies Inc. is testing a new earnings algorithm in 24 U.S. cities, allowing drivers to see pay and destinations before accepting a trip. The algorithm also raises the incentives for drivers to take short rides. The changes, now in pilot programs, mark the most wide-ranging updates to Uber’s driver