Tag: industry news
Toyota profits shrink 43% due to ongoing supply chain shutdowns
Toyota's profit fell 43% (578.66 billion Yen) in the last three months due primarily to supply chain issues. Last year, Toyota earned an average...
Lordstown Motors announces first profitable quarter thanks to sale of assets
Yesterday, Lordstown Motors announced its first profitable quarter of $61.3 million, but not from selling electric vehicles. After selling some of its assets, including its Ohio...
Fisker to start production on 56,000 Ocean EV SUV reservations later...
California electric vehicle startup, Fisker, announced that they have 56,000 reservations for its newest vehicle, the Ocean EV SUV. According to Fisker's second quarterly earnings,...
Stellantis invests $99 M into North American hybrid vehicle production
Automaker Stellantis is reportedly investing a total of $99 million in three North American plants to produce turbo engines for its new hybrid vehicle models.
The state...
Carmakers say pending climate action bill presents more barriers than opportunities
Carmakers, including Ford, General Motors, and Toyota, are unhappy with the new pending clean energy bill since it might disqualify many of their vehicles and...
GM expands Super Cruise coverage by 400,000 miles
General Motors has revealed that its "hands-free" advanced driver-assist system (ADAS), Super Cruise, is going to cover 400,000 miles across North America by the end...
General Motors introduces new measures to combat resellers
General Motors has taken action to prevent the rampant resale of its new, low-production popular cars by rewarding owners of the Chevrolet Corvette C8 Z06 with a...
Rivian exec. claims proposed EV tax legislation gives unfair advantage to...
According to Rivian Automotive, the EV maker will not benefit as much from the proposed federal legislation incentivizing consumers to purchase electric vehicles and trucks...
Hyundai, Kia US retail sales decline 11% in July, electrified car...
Hyundai Motor America and sister brand Kia reported total July sales of 128,283 units, a decrease of almost 11% compared with July 2021. Sales of only four...
Automakers under scrutiny for fraudulent emissions data
The U.S division of Fiat Chrysler Automobiles pleaded guilty to criminal conspiracy earlier this year in connection to a multi-year U.S Justice Department diesel-emissions fraud probe....
