Next.e.GO Mobile, a German maker of compact electric vehicles, is going public through a merger with a blank-check firm to create a company valued at $913 million, including debt. The deal will provide e.GO with about $285 million of proceeds, assuming investors do not redeem their shares, according to a statement Thursday, confirming a Bloomberg
Van Horn Automotive Group has had a digital retailing presence since before the pandemic began in 2020, with the goal of selling vehicles to consumers entirely online. The group, with 19 dealerships in Wisconsin and Iowa, initially drew on its established brand name and called its offering Van Horn Direct. But the process turned out
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
A family in Florida is reeling after receiving a massive quote to replace the batteries in their second-hand electric vehicle. The family was quoted more than they paid for their used 2014 Ford Focus Electric. The Focus Electric was purchased for Avery Siwinski, a 17-year-old who was excited to have a car to get her
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
The Mercedes-Benz Vision EQXX concept is a sleek electric sedan with an air-cooled battery pack, 900-volt electrical architecture, and real-world range of well over 600 miles. We drove it this week and found it to be a lot of fun behind the wheel. 2024 Maserati GranTurismo Folgore spy shots – Photo credit: S. Baldauf/SB-Medien A
By Johnna Crider Posted on July 30, 2022 Tesla and Drive.ai are top key players in the Intellgent Driving market according to a new Global Intellgent Driving Market report. The report gives an overview of the 2021 growth of Intellgent Driving and how that growth has significant changes from the previous year as our global
MILAN — Italy’s Alfa Romeo will work on a new large-size car in the United States to be launched in 2027, the brand’s head Jean-Philippe Imparato said on Friday, adding however the group had not yet decided where to manufacture it. Imparato said the step was key to tailoring the design for overseas markets, helping
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
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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
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.
This week on Electrek’s Wheel-E podcast, we discuss the most popular news stories from the world of electric bikes and other nontraditional electric vehicles. This time that includes new electric bicycles from Trek, Fantic, and Optibike, plus interesting electric mobility stories covering new electric motorcycles, flying electric boats, and lots more. The Wheel-E podcast is set to
Aston Martin expects its finances to improve in the second half of 2022 after burning through tens of millions of pounds in cash earlier this year, it said, as easing supply chain snarls help boost deliveries of higher margin cars. Its positive free cash flow forecast comes as the automaker posted a bigger loss for
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
Renault has said that there will be no sudden let up in the supply chain shortages that have dogged the autos industry. Sameer Al-doumy | Afp | Getty Images Renault’s CEO said Friday that there will be no sudden let up in the supply chain shortages that have dogged the autos industry, even as the