6:28 AM ET All-electric racing series Formula E has launched a new net carbon zero car to compete its 2022-23 season. The triangle-shaped ‘gen 3’ car will increase the top speed of Formula E’s racers to 200 m/ph (320 km/h). It will feature two different powertrains, one at the front and one at the rear,
Magna International Inc.‘s first-quarter net income fell 41 percent from a year earlier as the microchip shortage, the impact of the war in Ukraine and inflation weigh down the Canadian supplier giant’s results. Magna reported Friday that net income fell to $364 million in the quarter ended March 31, compared with $615 million in the
All-time-high interest in electric vehicles might not translate into as many sales as automakers and regulators would like in the short and medium term, as supply chain snags are likely to prevent the industry from catching up with growing demand. Automakers and governments have set ambitious targets for EV expansion. Legacy automakers have rolled out
In this article GM VOW3-DE In 2021, Volvo Cars said it planned to become a “fully electric car company” by the year 2030, a move which will require it to have a consistent and secure supply of batteries for its vehicles. Peerapon Boonyakiat /SOPA Images | LightRocket | Getty Images The new CEO and president
By Simon Alvarez Posted on April 29, 2022 China’s State Administration for Market Regulation (SAMR) has announced that Tesla will recall over 14,000 Tesla Model 3 Performance units over a fault in the vehicles’ speed units when Track Mode is engaged. The issue would be addressed through a free over-the-air (OTA) update. According to the
Volvo Cars and Jaguar Land Rover are laying off the bulk of their Russian office staff, Kommersant newspaper reported. JLR is in effect leaving Russia, only keeping staff to coordinate administrative procedures, one source told the newspaper. Volvo plans to continue warranty support in the country and is ready to pay for parts via parallel
3:26 PM ET Formula One teams agreed to double the number of sprint races to six in 2023 in a meeting on Tuesday, but formal approval was stalled by the FIA who called for a further evaluation. The world governing body said in a statement that the proposal was to use the same format as
Getty Images Tesla says it delivered a record number of its cars in the first quarter, despite supply chain challenges. The electric carmaker says it delivered more than 310,000 vehicles in the first three months of this year. That was almost 70% higher than for the same time last year. Chief executive Elon Musk says
Asbury Automotive Group Inc. now seeks to produce $32 billion in revenue by 2025 — including $6.2 billion that would come from buying more companies. The revised 2025 revenue target announced Thursday is 60 percent higher than the $20 billion goal the public dealership group had set for the same timetable in December 2020. Asbury,
BEIJING/SHANGHAI – Baidu and Pony.ai said on Thursday they had received permits to deploy robotaxis without humans in the driver seat on open Chinese roads for the first time, in another instance of Beijing’s support for the autonomous-driving sector. The permits are the latest set of approvals the municipal government has handed out over the
In this article TSLA Elon Musk, founder of SpaceX and chief executive officer of Tesla, waves while arriving to a discussion at the Satellite 2020 Conference in Washington, D.C., on Monday, March 9, 2020. Andrew Harrer | Bloomberg | Getty Images Elon Musk sold roughly $4 billion worth of Tesla shares in the days following
The 2023 Nissan Z will compete in the Japanese Super Taikyu Series’ 24-hour race at Fuji Speedway, scheduled for June 4. Two cars will enter the ST-Q class, Nissan’s Nismo performance division said in a press release Thursday. One will be raced by a Nismo factory team, the other by privateer team Max Racing. Three
Electric car sales in the United States jumped to a record high of over 200,000 vehicles during the last quarter (Q1 2022). It’s a good sign, but the US EV market is still extremely reliant on Tesla and California. The United States is trailing far behind Europe and China when it comes to electrifying its
DUESSELDORF — Volkswagen and BP plan to deepen their European electric-charging partnership and could expand it to other regions and technologies, the CEOs of both companies said. The comments reflect increasing efforts by automakers and energy companies, including utilities and oil companies, to expand charging infrastructure for electric vehicles and tackle the issue of range
4:10 AM ET Formula One race directors Eduardo Freitas and Niels Wittich have both tested positive for COVID-19, raising questions about who will take charge of next week’s inaugural Miami Grand Prix, British media reported on Wednesday. A well-placed source confirmed to Reuters that the news, first reported by the Daily Telegraph and Sky Sports
This video can not be played To play this video you need to enable JavaScript in your browser. New car sales in Scotland fell by 7.5% last month as dealers struggled to get hold of vehicles from manufacturers. Just 21,069 were registered in March, according to the Society of Motor Manufacturers (SMMT). Scottish motor traders
U.S. Sen. Marco Rubio is seeking information from Volkswagen Group about a pair of planned joint ventures with companies accused of having a record of alleged human rights violations such as forced labor and human trafficking. Rubio, R-Fla., who is known for his hawkish stance on China, wants the German automaker to explain its decision
Hertz Global Holdings Inc. said first-quarter revenue of $1.8 billion was up 57 percent from a year ago, excluding the Donlen fleet management business sold last year. The company’s adjusted earnings before interest, taxes, depreciation and amortization rose from about breakeven to $614 million, while its average global revenue per day soared 28 percent to