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☆ The coolest cars we saw at the New York auto show, from a sleek electric Hyundai to an all-terrain Lamborghini
▼ + stars: | 2023-04-08 | by ( Tim Levin | ) www.businessinsider.com time to read: 1 min

It has knobby tires, protective cladding, and extra lights up front. And, since this is a Lambo after all, the Huracan Sterrato has 602 horsepower and can can hit 60 mph in 3.5 seconds, the brand claims. The Lamborghini Huracan Sterrato. Tim Levin/Insider

☆ After a Boom, an Auto Profit Bust Looms
▼ + stars: | 2023-04-07 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

It is getting easier to buy a new car, but also more tempting to wait for discounts. Visitors to the New York Auto Show last April, when U.S. new-vehicle inventories were at rock bottom, got to see lots of exciting new products they might struggle to actually buy, particularly below the sticker price. When this year’s show opens to the public on Friday, potential car buyers can browse knowing that availability on dealer lots is improving. They might even get a deal.

☆ After a Boom, the Auto Bust Has Begun
▼ + stars: | 2023-04-06 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

NEW YORK, April 5 (Reuters) - Ford Motor Co (F.N) and Chrysler-parent Stellantis (STLAM.MI) said on Wednesday that most of its electric and plug-in electric hybrid models will see tax credits halved to $3,750 on April 18 after new U.S. Treasury rules take effect. The other models currently getting credits - Ford Mustang Mach-E, Ford E-Transit, Ford Escape Plug-In Hybrid and Lincoln Corsair Grand Touring - will see credits drop to $3,750. Stellantis said of its three plug-in hybrid electric models, its Chrysler Pacifica plug-in electric hybrid will qualify for $7,500 tax credits after April 18, while the Jeep Grand Cherokee 4xe and Jeep Wrangler 4xe qualify for just $3,750. All U.S. EV consumer tax credits require vehicles to be assembled in North America and have income and retail price caps. Electric vehicles leased by consumers can qualify for up to $7,500 in commercial clean vehicle tax credits without any of the same restrictions.

☆ Stellantis unveils Ram EV pickup, to debut late in 2024, at New York auto show
▼ + stars: | 2023-04-05 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The EV truck will go on sale in one of the most important segments of the North American electric vehicle market. Stellantis CEO Carlos Tavares said the truck will be built in the U.S. and the location would be announced soon. He told reporters on the sidelines of the auto show that consumers will choose the Ram over other EV trucks because it will exceed other trucks' performance on range, speed of charge, towing and other factors. The Ram truck's launch late in 2024 will come more than two years after similar EV trucks like the Rivian (RIVN.O) R1T electric pickup and Ford's (F.N) F-150 Lightning electric truck. The RAM EV truck will be built on a new body-on-frame architecture designed for full-size EVs, capable of towing up to 14,000 lbs and carry a payload of up to 2,700 lbs.

NEW YORK — An upcoming Ram electric pickup truck from Stellantis will offer up to 500 miles of driving range when fully charged, the automaker said Wednesday as it officially revealed the vehicle. That range would top Ram's current gas-powered 1500 full-size trucks as well as all-electric pickups currently available such as GMC's Hummer EV, Ford's F-150 Lightning and Rivian's R1T. Tesla has said its Cybertruck, which is expected later this year, would be capable of up to 500 miles of EV range. "We are delivering an electric pickup truck when we should, because for electrification being first actually might not be the best," Ram CEO Mike Koval Jr. said during the event. "The Ram 1500 REV lineup will give our customers options depending on how they use their truck."

☆ Watch the Tesla Cybertruck run suspension tests at the Fremont factory
▼ + stars: | 2023-04-05 | by ( Nora Naughton | ) www.businessinsider.com time to read: +2 min

Elon Musk has slowly dripped out details about the electric pickup truck since the reveal in 2019. In the years since the Cybertruck reveal, Elon Musk has slowly dripped out details on the truck. Once the Cybertruck does go on sale, it will be entering an increasingly crowded electric pickup truck market. GM is also planning to release an all-electric version of its popular Chevrolet Silverado truck this fall, while Ram's upcoming electric pickup truck is featured at the New York Auto Show this week. Watch the latest Cybertruck video here:Are you a Cybertruck order-holder?

☆ Jeep unveils 2024 Wrangler SUV in next stage of off-road sales battle with Ford Bronco
▼ + stars: | 2023-04-05 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

The 2024 Jeep Wrangler features an evolutionary exterior design, which is typical for the quintessential SUV, and a redesigned interior that includes additional safety, convenience and tech features such as a 12.3-inch center control screen. In addition to the interior upgrades, the 2024 Wrangler will offer additional off-road features such as larger tires and an 8,000-pound-capacity warn winch. 2024 Jeep Wrangler Rubicon 392 (left) and Wrangler Rubicon X 4xe JeepJeep, specifically with the Wrangler, has long dominated the off-road SUV segment. 2024 Jeep Wrangler interior JeepThe Wrangler 4xe has been the bestselling PHEV in the U.S. for the past two years, according to the company. The 2024 Jeep Wrangler will be available in Sport, Willys, Sahara, High Altitude, Rubicon and Rubicon 392 models.

☆ Huawei makes breakthroughs in design tools for 14nm chips -media
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +2 min

The announcement comes as Huawei and other Chinese technology companies rush to localise their supply chains in the face of mounting U.S. sanctions. According to a transcript of Xu's remarks published by Caijing, Huawei cooperated with domestic EDA companies to create the software, "basically realising the localisation of EDA tools above 14nm." Chip design companies use EDA software to produce the blueprints for chips before they are mass manufactured at fabs. China is home to a handful of domestic EDA software makers, but experts do not consider them globally competitive. All three overseas EDA companies fell subject to Washington's sanctions against Huawei in 2020.

☆ China's Huawei makes breakthrough in design tools for 14nm chips and above - media
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Wolfgang Rattay/File PhotoSHENZHEN, China, March 24 - Huawei Technologies Co Ltd (HWT.UL) has made breakthroughs in electronic design automation (EDA) tools for chips produced at and above 14-nanometre technology, Caijing financial news magazine reported on Friday, citing a speech by a senior Huawei executive. Huawei will complete testing on the tools this year, rotating chairman Xu Zhijun said in a speech on Feb 28., Caijing reported. Huawei has developed 78 tools related to chip hardware and software, the report added. Chip design companies use EDA software to produce the blueprints for chips before they are mass manufactured at fabs. China is home to a handful of domestic EDA software makers, but experts do not consider them globally competitive.

☆ GM to stop making Chevy Camaro, leaving muscle car’s future uncertain
▼ + stars: | 2023-03-23 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

Stellantis had earlier announced it would stop production of the larger Dodge Challenger at the end of this year. Around the same time, Dodge executives revealed an electric muscle car concept car that, they said, provided a preview of a future model. GM has not announced any future versions of the Camaro, although it teased that there will be some future for the brand. After five generations of redesigned models, the Camaro was dropped from the lineup in 2002, but brought back in 2010. These muscle cars or pony cars are also among the last car models – as opposed to SUVs or trucks – manufactured by the three automakers.

☆ U.S. states urge Hyundai, Kia to do more to tackle theft risk
▼ + stars: | 2023-03-20 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

In Chicago there were over 7,000 thefts of Hyundai and Kia vehicles in 2022 accounting for 10% of Kia and 7% of Hyundai vehicles registered in the city, the letter said. Ellison said in Minneapolis in 2022 Kia and Hyundai vehicle thefts were tied to five homicides and 265 motor vehicle accidents. The free upgrade will be offered for 3.8 million Hyundai and 4.5 million Kia vehicles, the automakers and NHTSA said. Many Hyundai and Kia vehicles have no electronic immobilizers, which prevent break-ins and bypassing the ignition. All Hyundai vehicles produced since November 2021 are equipped with an engine immobilizer as standard equipment.

☆ More than 20 U.S. states urge Korean automakers to do more to address theft-prone vehicles
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Hyundai booth displays the company logo at the North American International Auto Show in Detroit, Michigan, U.S. January 16, 2018. REUTERS/Jonathan ErnstWASHINGTON, March 20 (Reuters) - More than 20 U.S. state attorneys general on Monday urged Hyundai Motor (005380.KS) and Kia Corp (000270.KS) to do more to address millions of U.S. vehicles that are prone to theft. Last month, the Korean automakers said they would offer software upgrades to 8.3 million U.S. vehicles to help curb increasing car thefts using a method popularized on TikTok and other social media channels. The states said the automakers had failed to take adequate steps to address the alarming rate of theft and urged them to accelerate the implementation of the software upgrade and provide free alternative protective measures for owners whose cars cannot support the software upgrade. Reporting by David Shepardson Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Mazda to appoint former North America head Moro as next CEO
▼ + stars: | 2023-03-17 | by ( Daniel Leussink | ) www.reuters.com time to read: +2 min

[1/2] Masahiro Moro, President and CEO of Mazda North America, speaks at the Los Angeles Auto Show in Los Angeles, California U.S. November 29, 2017. Moro, 62, currently a director and senior managing executive officer, had previously served as the head of the automaker's North America operations. Current President and CEO Akira Marumoto, who took up his role in 2018, will step down from his posts at that time, Mazda added. Mazda also nominated Jeff Guyton, 56, senior managing executive officer and its current North America head, as chief financial officer and assistant to the president pending the June approval of the shareholders and board. ($1 = 132.9600 yen)Reporting by Daniel Leussink; Editing by Kim Coghill and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen announces five-year $193 billion investment plan as electrification gathers pace
▼ + stars: | 2023-03-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

People look at the Volkswagen id buzz electric car during the press day at the Los Angeles Auto Show in Los Angeles, California, November 17, 2022. Volkswagen on Tuesday announced plans to invest 180 billion euros ($192.6 billion) between 2023 and 2027, with more than two thirds targeting "electrification and digitalization." The BEV expansion was driven by a 68% spike in China, while the company also completed the landmark electrification of its plant in Chattanooga, Tennessee. However, overall delivery numbers declined by 7% to 8.3 million vehicles in 2022 and the automotive division's net cash flows decreased to 4.8 billion euros from 8.6 billion euros in 2021. Volkswagen Group CFO & COO Arno Antlitz said the strong financial position should enable the company to "continue investing in electrification and digitalization" even in a "challenging economic environment."

☆ Porsche Plans New Electric Luxury SUV as Profit Rises
▼ + stars: | 2023-03-13 | by ( William Boston | ) www.wsj.com time to read: 1 min

A Porsche 911 Dakar at the AutoMobility LA Auto Show last year. BERLIN— Porsche AG unveiled plans to launch a new all-electric SUV as it reported a rise in sales and profit in its first annual earnings since parent Volkswagen AG took the sports-car maker public last year. The German company said Monday that the new luxury SUV would be a cornerstone of its plan to boost profitability by having a sharper, strategic focus on high-end automotive consumers.

☆ Hyundai Motor's India unit to buy plant from General Motors
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: 1 min

[1/2] The logo of Hyundai Motor Company is pictured at the New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Andrew KellyBENGALURU, March 13 (Reuters) - The Indian arm of Hyundai Motor Co (005380.KS) said on Monday it had signed a term sheet to buy General Motors Co's (GM.N) plant in the western state of Maharashtra. The term sheet covers proposed acquisition of land and buildings, certain machinery and equipment for manufacturing at the plant, Hyundai added in a statement. Reporting by Meenakshi Maidas in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Rebecca Cook/File PhotoMarch 6 (Reuters) - American carmakers will lean on technology to keep the horsepower wars going among their electric muscle cars, a tectonic shift from the big, rumbling motors of the past. GM and Dodge have both issued timelines to stop selling gas-powered muscle cars and replace them with electric variants that will wear the same badges. Dodge's Charger and Challenger muscle cars will not be made next year, while Chevrolet has laid out plans for an electric Corvette. Brands such as Polestar and Mercedes-Benz (MBGn.DE) have announced optional power upgrades to their sedans that improve acceleration and total horsepower via paid OTA (over-the-air) software updates. Dodge has said it will transition its muscle cars to an electric platform, and is working to differentiate those models.

REUTERS/Mike Blake/File PhotoMarch 3 (Reuters) - Urban scooter company Lime sued Hertz Corp on Thursday alleging unfair competition and accusing the rental car giant of improperly hiring the startup's senior engineers. The loss of engineers has "significantly harmed" Lime, which provides short-term e-bike and scooter rentals in about 30 countries. Hertz Corp, which operates the Hertz, Dollar and Thrifty vehicle rental brands, is a subsidiary of Hertz Global Holdings Inc (HTZ.O). Cong, now at Hertz, did not immediately respond on Friday to a message seeking comment. A representative from Lime did not immediately respond to a message seeking comment.

☆ Nissan raises global EV targets; to boost U.S. input
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

Nissan now aims to have electrified vehicles - which include its advanced hybrid e-power cars - make up over 55% of global sales by fiscal 2030, up from a previous goal of 50%, it said. The EV mix will increase to 44% by fiscal 2026 from an earlier target of 40%, Nissan said. REUTERS/Mike BlakeThe automaker plans 27 new electrified vehicles by that year, 19 of which will be all-battery EVs, it said in a statement. That compared with its previous plan of 23 electrified vehicles including 15 all-battery EVs. Nissan is confident it will be in compliance with the Act due to the localisation of battery production starting from 2026.

☆ Fisker confirms Ocean EV deliveries will begin this spring, on track to build over 40,000 in 2023
▼ + stars: | 2023-02-27 | by ( John Rosevear | ) www.cnbc.com time to read: +3 min

Henrik Fisker stands with the Fisker Ocean electric vehicle after it was unveiled at the Manhattan Beach Pier ahead of the Los Angeles Auto Show and AutoMobilityLA on November 16, 2021 in Manhattan Beach, California. Electric vehicle startup Fisker said Monday that it spent less money in 2022 than expected, and that it remains on track to begin deliveries of its Ocean SUV this spring and to build more than 40,000 vehicles in 2023. "These results reinforce our expectation that, at the time of launch, the Fisker Ocean will have the longest range of any SUV/Crossover priced below $70,000," he said. Fisker expects to complete the testing needed for regulatory approval of the Ocean next month, and to ramp up production – and begin deliveries -- in the second quarter. Fisker spent a total of $702 million in 2022, a bit below its guidance range of $715 million to $790 million.

☆ Electric-vehicle startup Fisker will begin delivering its flagship SUV this year — see the $37,500 Ocean
▼ + stars: | 2023-02-27 | by ( Tim Levin | ) www.businessinsider.com time to read: +2 min

Fisker reiterated plans on Monday to begin shipping its flagship electric vehicle in 2023. The Ocean SUV will start at $37,499 and offer up to 350 miles in more expensive trims, Fisker says. The 2023 Fisker Ocean. The 2023 Fisker Ocean. The 2023 Fisker Ocean.

☆ Ford Motor Turns to Industry Outsider to Reverse China Slump
▼ + stars: | 2023-02-24 | by ( Selina Cheng | ) www.wsj.com time to read: 1 min

People looked at a Ford Mustang Mach-E at an auto show in Shanghai in 2021. HONG KONG— Ford Motor Co. promoted Sam Wu to head its China business as the American auto maker struggles to reverse its dwindling market share in the world’s biggest car market. Mr. Wu, who joined Ford China as managing director from Whirlpool Corp. in October, takes over as president and chief executive on March 1, the Michigan-based auto maker said in a statement Thursday. In his new role, Mr. Wu will report to Ford CEO Jim Farley and replaces Anning Chen, who is due to retire in October.

☆ Wondering Whether to Buy GM or Ford Stock? Try Stellantis.
▼ + stars: | 2023-02-22 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

Stellantis’s brands at the Chicago Auto Show earlier this month. The largest U.S. auto maker by profit is the one that investors often treat as Detroit’s third wheel: Chrysler. The North American arm of automotive group Stellantis , which is roughly equivalent to the old Chrysler business with brands such as RAM, Jeep and Dodge, generated adjusted operating income of roughly 14 billion euros last year, equivalent to $14.9 billion at today’s exchange rate. The comparable numbers for General Motors and Ford were $13 billion and $9.2 billion, respectively. Tesla doesn’t split its business geographically, but made $13.7 billion in operating profit globally.

☆ Jeep Maker Stellantis to Hand $4.5 Billion to Shareholders
▼ + stars: | 2023-02-22 | by ( Mauro Orru | ) www.wsj.com time to read: 1 min

Stellantis exhibited at the Chicago Auto Show in Chicago earlier this month. Stellantis NV is planning to distribute $4.47 billion in dividends to shareholders and buy back up to $1.60 billion worth of shares after revenue and net profit surged in 2022, a year marked by a steep rise in electric-vehicle sales. Stellantis and other car makers have had to contend with supply chain snags caused by the war in Ukraine and a surge in Covid-19 infections in China, a key car market.

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