WASHINGTON — Toyota Motor Corp. is once again being targeted by a political action committee after resuming donations to certain federal lawmakers. In a statement Monday, Toyota said it has resumed contributions to some members of Congress after a six-month pause and “extensive discussions with internal and external stakeholders.” “We will not support those who,
Volvo Cars’ venture capital arm has invested in battery technology startup StoreDot, betting the company’s fast charging tech could be a game-changer as the automaker rolls out new electric vehicles. “We believe StoreDot has very interesting battery technology,” said Alexander Petrofski, head of the Volvo Cars Tech Fund. “They specialize in anode material, improving charging
In this article TSLA TWTR Tesla Inc CEO Elon Musk attends the World Artificial Intelligence Conference (WAIC) in Shanghai, China August 29, 2019. Aly Song | Reuters Tesla and SpaceX CEO Elon Musk, the world’s wealthiest person on paper, is buying Twitter, the social media platform he has relied on for years to promote his
It’s been the stuff of Internet forum chatter for years, and even President Joe Biden has dropped a hint or two, but GM President Mark Reuss on Monday finally confirmed that an electric Chevrolet Corvette is coming. Reuss made the confirmation to CNBC’s Phil LeBeau during a segment of “Squawk Box,” though he didn’t provide
Twitter announced that it accepted an acquisition offer from Tesla CEO Elon Musk for roughly $44 billion, and it will become a private company once the transaction is closed. This is a surprising turn of events as Twitter’s board had appeared to resist Musk’s effort to buy the social media and even adopted a “poison
SHANGHAI — Volkswagen Group‘s Shanghai factory has started gradually resuming production, the automaker said. The company’s factories in the northeastern Chinese city of Changchun, which it runs in a joint venture with China’s FAW Group, continues to ramp up production volumes, it added. VW halted work at its factory in Shanghai, which is a joint
Lincoln Motor Co. may have stumbled onto its next slogan. Oscar-winning actor and brand spokesman Matthew McConaughey was on hand for the reveal of the Lincoln Star concept in Los Angeles last week, conducting an unscripted question-and-answer session with Lincoln President Joy Falotico. Things got a bit philosophical when she asked McConaughey what makes a
12:03 PM ET IMOLA, Italy — Ferrari will be reluctant to admit it, but the pressure ratchets up when it races on home soil. The expectations of victory are always significantly multiplied in Italy and the cost of mistakes become massively amplified. It’s a pressure no other team in F1 faces. Individual drivers may feel
General Motors will launch electrified versions of the Chevrolet Corvette sports car starting next year, GM President Mark Reuss said Monday. Reuss told CNBC that GM will launch an “electrified” version of the Corvette in 2023, followed by a fully electric version later. The all-electric Corvette will be powered by GM’s proprietary Ultium battery platform.
YOKOSUKA, Japan – Nissan Motor Co. is showing off a next-generation lidar system it says will let vehicles conduct high-speed emergency maneuvers without a hand on the wheel or foot on the brake. The advanced driver-assist system will debut in the mid-2020s and is part of Nissan’s push to equip nearly every new model with
In this article F A Ford F-150 Lightning on display at the New York Auto Show, April 13, 2022. Scott Mlyn | CNBC DETROIT – Ford Motor is set to be the first automaker to bring a mainstream, full-size electric pickup to the U.S. market, poised to capitalize on a first-mover advantage in what’s expected
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The lithium-ion battery market is on a fast track to growth thanks to the ongoing expansion of the electric vehicle market. Both markets are expected to accelerate this decade. According to a recent Benchmark Mineral Intelligence report, by 2030, the global lithium-ion production capacity might exceed 6 TWh (or 6,000 GWh). This forecast is based
BERLIN — Europe’s automakers should stop using fossil fuels by 2040, Audi CEO Markus Duesmann said. Discussions around a possible embargo on Russian gas after Moscow’s invasion of Ukraine have raised pressure on companies and governments to expand investment into renewable energy, with Mercedes-Benz promising new investments in wind and solar to help power its
NEW YORK — Alfa Romeo is taking its new Tonale crossover on the road. The Italian brand, which is looking for an awareness boost to juice stagnant sales, wants consumers to have a hands-on experience with its first electrified entry ahead of the Tonale’s U.S. release in early 2023. The model will have plug-in hybrid
9:03 PM ET Associated Press BAYTOWN, Texas — Houston native Erica Enders closed Houston Raceway Park with a victory, beating Camrie Caruso on Sunday in the final NHRA SpringNationals in the first all-woman final in NHRA Pro Stock history. Enders had a 6.568-second pass at 210.24 mph in a Chevrolet Camaro for her third victory
TOKYO — Honda Motor Co., in the midst of a massive corporate makeover, is planning a radical ramp-up of electric vehicles in North America, from barely any sales today to enough factory firepower to sell 800,000 in 2030 as the Japanese automaker piles on local capacity to build battery-powered cars. Part of that surge will
Aston Martin’s full lineup will be electrified by 2030 with a mix of plug-in hybrid and all-electric powertrains, the automaker announced on Friday. Aston previously confirmed that its first plug-in hybrid—a rebooted version of the Valhalla supercar—will arrive in 2024, with the first electric vehicle, a sports car, following in 2025. By 2026, all new