SAN FRANCISCO — Tesla said it plans to expand the use of cheaper, iron-based batteries to a version of its Semi heavy electric trucks and an affordable electric vehicle. Tesla CEO Elon Musk has championed the lithium iron phosphate (LFP) battery technology dominated by Chinese suppliers, saying in March, “the vast majority of the heavy
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Credit unions beat out rivals for auto financing market share during the fourth quarter of 2022, and dealership finance and insurance offices should expect them to remain strong competitors this year. Dawit Kebede, senior economist at the Credit Union National Association, said credit unions achieved 21 percent growth in auto loans last year. “Best. Year.
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SHANGHAI — Huawei Technologies is partnering with more legacy automakers to produce Aito-branded electric vehicles, the company’s senior executive said on Saturday, in a move to expand its presence in the auto industry. Huawei will team up with Chery Automobile, BAIC Motor and Anhui Jianghuai Automobile Group in jointly developing and manufacturing Aito-branded vehicles, Richard
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Maybe fleet sales aren’t so bad after all. U.S. light-vehicle deliveries rose 8.5 percent in the first quarter of 2023, according to the Automotive News Research & Data Center, as an easing of the global microchip shortage improved inventories for most brands. General Motors and Hyundai Motor Group each posted double-digit gains, even as transaction
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Jaguar Land Rover expects free cash flow of over 800 million pounds (about $1 billion) for the quarter ending March 31, boosted by a 24 percent rise in wholesale volumes as chip and other supply constraints eased, the luxury carmaker said on Thursday. Tata Motors, which acquired the UK automaker in 2008, had set a
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7:00 PM ET Formula One will feature a new sprint format at the Azerbaijan Grand Prix after unanimous agreement among the teams to make a change. Pending official ratification of the change, F1 is dropping Saturday’s practice session, which usually precedes the sprint race, in favour of a standalone qualifying session for that event. It
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