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Tokyo CNN —Japanese officials descended on the headquarters of Toyota on Tuesday, after a safety test scandal at a number of automakers in the country widened this week. The ministry said five automakers — Toyota (TM), Mazda, Honda (HMC), Suzuki and Yamaha — had submitted incorrect or manipulated safety test data when they applied for certification of the vehicles. All five companies were told to review their safety certification processes. Kyodo/ReutersKoji Endo of SBI Securities said that Japan’s certification tests are very stringent and much stricter than in other countries. In January, Toyota announced it would suspend shipments of certain models after finding irregularities in certification tests for diesel engines developed by its affiliate, Toyota Industries.

Persons: —, Suzuki, Yamaha —, Koji Endo, ”, “, ” Endo, Akio Toyoda, Toyota’s Organizations: Tokyo CNN, Toyota, Japan’s Ministry of Transport, CNN, — Toyota, Mazda, Honda, Yamaha, Corolla Fielder, Corolla, Kyodo, SBI Securities, Transport Ministry, Toyota Industries, Daihatsu Locations: Japan

☆ Car Deals Vanished During the Pandemic. They’re Coming Back.
▼ + stars: | 2024-06-03 | by ( Neal E. Boudette | ) www.nytimes.com time to read: +1 min

For much of the last four years, automakers and their dealers had so few cars to sell — and demand was so strong — that they could command high prices. During the coronavirus pandemic, auto production was slowed first by factory closings and then by a global shortage of computer chips and other parts that lasted for years. With few vehicles in showrooms, automakers and dealers were able to scrap most sales incentives, leaving consumers to pay full price. Some dealers added thousands of dollars to the manufacturer’s suggested retail price, and people started buying and flipping in-demand cars for a profit. But with chip supplies back to healthy levels, auto production has rebounded and dealer inventories are growing.

☆ As Japan’s auto safety scandal widens, Toyota halts some shipments
▼ + stars: | 2024-06-03 | by ( ) edition.cnn.com time to read: +3 min

Tokyo — A safety test scandal at Japanese automakers widened Monday, with Toyota Motor and Mazda both halting shipments of some vehicles after Japan’s transport ministry found irregularities in applications to certify certain models. The automakers were found to have submitted incorrect or manipulated safety test data when they applied for certification of the vehicles. The ministry ordered Toyota (TM), the world’s biggest carmaker by the number of vehicles sold, Mazda and Yamaha to suspend shipments of some vehicles. In a report to shareholders, ISS singled out the “spate of certification irregularities” at the Toyota Group. Toyota said it had temporarily halted shipments and sales of three car models made in Japan.

Persons: Suzuki, Glass Lewis, Akio Toyoda, Toyoda, ”, Yoshimasa Hayashi Organizations: Toyota Motor, Mazda, Honda, Yamaha Motor, Toyota, Yamaha, Daihatsu, Services, ISS, Toyota Group, Government, Corolla Fielder, Corolla, Lexus, RF Locations: Tokyo, Japan

☆ Toyota and Other Japanese Carmakers Say They Mishandled Safety Tests
▼ + stars: | 2024-06-03 | by ( River Davis | Kiuko Notoya | ) www.nytimes.com time to read: +1 min

Toyota Motor, Honda Motor and other top Japanese automakers said on Monday that internal investigations found they had mishandled vehicle testing on dozens of models over the past decade. Toyota said it failed to gather proper data when doing pedestrian and occupant safety tests for three models, including its popular Yaris Cross sports-utility vehicle. Honda and Mazda Motor said they had identified problems related to the testing of several models, too. Mazda said it would suspend sales of two Japan models. The testing problems revealed Monday by Toyota, Honda and Mazda were conducted in Japan to meet the Japanese government’s certification standards.

Organizations: Toyota, Honda Motor, Honda, Mazda Locations: Japan

☆ EU approves Italian aid for $5.4 billion STMicro chip plant
▼ + stars: | 2024-05-31 | by ( ) www.cnbc.com time to read: +3 min

STMicroelectronics has committed 5 billion euros ($5.4 billion) of investment in what it calls the world's first fully integrated Silicon Carbide (SiC) plant in Italy. The project is backed by 2 billion euros from the Italian state, and is the result of the EU's Chips Act which aims to provide support for Europe's chip industry. The European Commission on Friday approved Italian state aid for STMicroelectronics to build a 5 billion euro ($5.4 billion) microchip plant as Europe battles to reduce reliance on Asian imports for vital manufacturing components. The STMicro plant will produce chips made from silicon carbide, which is more energy-efficient than standard silicon. STMicro is the largest maker of silicon carbide chips, which are more expensive to manufacture than regular silicon chips but favoured by automakers because they are energy-efficient, lightweight and tough.

Persons: STMicroelectronics, Margrethe Vestager, it's, Vestager, STMicro Organizations: Carbide, European, United, European Union, Union, BMW, Renault Locations: Italy, Catania, Sicily, Rome, China, Asia, United States, Catania . U.S, STMicro

☆ China to invest $845 million on ramping up its advanced EV battery ambitions
▼ + stars: | 2024-05-30 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Earlier this month, the Biden administration imposed major new tariffs on Chinese EVs, advanced batteries and other goods. The European Commission is set to announce early next month its own decision on Chinese EV tariffs, which could spell trouble for Chinese EV makers that export hundreds of thousands of cars to Europe every year. In January, Toyota (TM) said it would launch vehicles with solid-state batteries in a few years, according to Reuters. Samsung SDI said in March that it would begin mass producing solid-state batteries in 2027. GAC Group, a state-owned automaker based in Guangzhou, said in November that it had achieved a breakthrough in solid-state batteries and would roll out vehicles with them in 2026.

Persons: Biden Organizations: Hong Kong CNN, China Daily, West, European, EV, Global, Toyota, Reuters, Samsung SDI, Volkswagen, GAC Locations: China, Hong Kong, Europe, Beijing, Guangzhou

☆ Photos Show Strength of Asian American Activism Throughout US History
▼ + stars: | 2024-05-30 | by ( Momo Takahashi | ) www.businessinsider.com time to read: +12 min

The term "Asian American" was first coined in 1968 amid the rising voices of the Third World Liberation Front student movements in California. With tensions from protests against the Vietnam War and calls for universities to invest in ethnic studies programs, the Asian American identity was born out of advocacy for multiethnic unity among the Asian diaspora. Historical photographs showcase the history of Asian American resistance movements from the 1960s to the 1980s, demonstrating the strength and resilience of the Asian American community among tenants, students, and laborers. For the next five years, Filipino and Mexican American workers continued to strike for economic justice for all farm workers. AdvertisementThe same year, Yuji Ichioka and Emma Gee, both graduate students and key organizers of the Asian American Political Alliance, coined the term "Asian American."

Persons: Delano, Cesar Chevez's Huelga, Julio Hernandez, Larry Itliong, Cesar Chavez, Gerald French, Chavez, Ted Streshinsky, Slava J, Garth Eliassen, Yuji Ichioka, Emma Gee, Dave Randolph, Sheriff Richard Hongisto, Terry Schmitt, Emil de Guzman, May Chen, Walter Leporati, Chol Soo Lee, Yip Yee Tak, Lee, John O'Hara, Chol, Lee's, Jerry Telfer, Vincent Chin, Vincent, Lily Chin, Detroit . Chin, Ronald Ebens, Michael Nitz, Ebens, Helen Zia, Victor Yang, Chin, Chin's Organizations: Liberation, Business, American, Agricultural Labor, Committee, Delano, Getty, Labor, National Farm Workers Association, United Farm Workers, Migratory Labor, National Farm Workers, University of California, University of California Regents, Black Student Union, UC Berkeley, Asian American Political Alliance, San Francisco State University, San Francisco Chronicle, San Francisco, . Police, Chinatown Community Development Center, Manilatown Heritage Foundation, Images Garment Worker, Ladies Garment Workers Union, International Ladies Garment Workers Union, San, Korean American Journalists Association, Asian, Lee Defense, Hall of Justice, The, American Citizens, Justice, Department of Justice, FBI Locations: California, Vietnam, Asia, San Francisco, Mexican, Bakersfield , California, Spanish, Washington, Delano, Sacramento, American, Berkeley, Berkeley , California, Africa, America, San, Los Angeles, Kearny, New York, Chinatown, Columbus, councilmen, San Quentin, Detroit ., Detroit

☆ US tells owners to stop driving older Nissan vehicles over air bag concerns
▼ + stars: | 2024-05-29 | by ( ) edition.cnn.com time to read: +2 min

Owners of nearly 84,000 older Nissan vehicles in the United States equipped with recalled, unrepaired Takata air bags should immediately stop driving them due to a safety hazard, the US National Highway Traffic Safety Administration said on Wednesday. “If you have one of these vehicles, do not drive it until the repair is completed and the defective air bag is replaced,” NHTSA said in a statement, noting that Nissan dealers are offering free towing, mobile repair and in some places loaner vehicles. Over the past decade, more than 100 million Takata air bag inflators have been recalled worldwide - including 7 million in the United States - in the biggest auto safety callback on record. The air bag problems have been blamed on propellant that can break down after long-term exposure to high-temperature fluctuations and humidity. Toyota in January urged owners of 50,000 of its older vehicles - the 2003-2004 model year Corolla, 2003-2004 Corolla Matrix and 2004-2005 RAV4 - in the United States to get immediate recall repairs because a Takata air bag inflator could explode and potentially kill motorists.

Persons: unrepaired, Stellantis, Dodge Organizations: Nissan, Traffic Safety Administration, Nissan Sentra, Nissan Pathfinder, NHTSA, Chrysler, Toyota Locations: United States

☆ Cadillac's new entry-level Optiq EV to start at $54,000
▼ + stars: | 2024-05-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors' new entry-level 2025 Cadillac Optiq electric vehicle will start at $54,000, the company said Wednesday. The compact-sized crossover is set to be Cadillac's fourth electric vehicle when it goes on sale later this year. It follows the $59,000 Lyriq midsize crossover, the $300,000-plus bespoke Celestiq sedan and the upcoming $130,000 Escalade IQ SUV. The Optiq will be sold in 10 regions, including North America, China and Europe, where it debuted Wednesday at a new Cadillac showroom in Paris. It comes as automakers attempt to expand the appeal of EVs with less-expensive models following slower-than-expected sales for the emerging vehicles.

Persons: Cadillac, John Roth Organizations: DETROIT, Motors, EV, Cadillac Locations: North America, China, Europe, Paris

☆ Stellantis CEO says $25,000 Jeep EV coming to the U.S. 'very soon'
▼ + stars: | 2024-05-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Stellantis plans to offer a $25,000 all-electric Jeep vehicle in the U.S. "very soon" to better attract mainstream consumers amid slower-than-expected electric vehicle adoption, CEO Carlos Tavares said Wednesday. "In the same way we brought the 20,000 Euro Citroen e-C3, you will have a $25,000 Jeep very soon," he said Wednesday during a Bernstein investor conference. Stellantis currently offers an all-electric version of its Avenger SUV in Europe, starting at about 35,000 euros, or about $37,800, according to its website. Offering a new EV for around $25,000 has long been a target for automakers such as Stellantis, Tesla and others. "If you ask me what is an affordable BEV, I would say 20,000 euros in Europe and $25,000 in the U.S.," Tavares said.

Persons: Carlos Tavares, Tavares, Stellantis, Tesla, BEV, " Tavares Organizations: Citroen Locations: U.S, Europe, China

☆ Lucid CEO says Tesla is 'losing its way'
▼ + stars: | 2024-05-28 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Read previewLucid CEO Peter Rawlinson isn't a fan of Tesla's recent trajectory under Elon Musk. The Lucid CEO said he feels Tesla is "losing its way" and doesn't have the same sense of purpose it once did. Advertisement"There's an interest in social media, even politics, and it's kind of losing its way. Since Musk acquired Twitter in 2022, some Tesla investors have questioned his commitment to the electric carmaker. While Rawlinson told BBC that Lucid is "many years ahead" of other automakers, including Tesla, when it comes to some of its technology, the company has only a fraction of the market share compared to Tesla.

Persons: —, Peter Rawlinson isn't, Elon Musk, Rawlinson, Tesla, BBC's, Elon, Musk, Lucid, Axios Organizations: Service, Lucid, EV, Business, Twitter, BBC

☆ Porsche reveals a new hybrid 911 as more consumers embrace hybrids over electric vehicles
▼ + stars: | 2024-05-28 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

They have become increasingly popular in the United States even as sales of purely electric models have started to slow. The German automaker Porsche, a division of Volkswagen AG, already sells plug-in hybrid models like the Cayenne e-Hybrid SUV and Panamera e-Hybrid four-door car, but a hybrid 911 is another matter. Initially, hybrid power will be available in only one version of the car, the high performance 911 Carrera GTS. In another major change for Porsche, this car will not be a plug-in hybrid, as other Porsche hybrid models have been. Besides hybrids, Porsche also sells fully electric cars, the Taycan and the new Macan Electric SUV.

Persons: CNN —, didn’t, Ferdinand Porsche Sr, Ferdinand “ Ferry, Ferry’s, Ferdinand “ Butzi Organizations: CNN, CNN — Porsche, Porsche, Volkswagen AG, Carrera, Volkswagen Locations: United States, Cayenne

☆ Nvidia's Jensen Huang praises Elon Musk's efforts at Tesla
▼ + stars: | 2024-05-27 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

Jensen Huang had positive words about Tesla's efforts in an interview last week. The support comes weeks before Tesla shareholders are set to vote on Elon Musk's pay package. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNvidia CEO Jensen Huang gave electric vehicle maker Tesla a shoutout during an interview with Yahoo Finance last week. "Tesla is far ahead in self-driving cars, but every single car, someday, will have to have autonomous capability," Huang said in the interview posted to YouTube Thursday.

Persons: Jensen Huang, —, Tesla, Huang Organizations: Nvidia, Elon, Service, Yahoo Finance, YouTube, Business

☆ The Delivery Business Shows Why Unions Are Struggling to Expand
▼ + stars: | 2024-05-27 | by ( Peter Eavis | ) www.nytimes.com time to read: +1 min

Last year, two unions representing workers at three large automakers and UPS negotiated new labor contracts that included big raises and other gains. Leaders of the unions — the United Automobile Workers and the Teamsters — hoped the wins would help them organize workers across their industry. The Teamsters have made even less progress at UPS’s big nonunion rivals in the delivery business, Amazon and FedEx. Polling shows that public support for unions is the highest it has been in decades. Many of the workers doing deliveries for Amazon and FedEx work for contractors, typically small and medium-size businesses that can be hard to organize.

Persons: Teamsters — Organizations: UPS, United Automobile Workers, Teamsters, Volkswagen, Mercedes, Benz, Amazon, FedEx, Polling Locations: Tennessee, Alabama

☆ Biden Doesn’t Want You Buying an E.V. From China. Here’s Why.
▼ + stars: | 2024-05-27 | by ( Jim Tankersley | ) www.nytimes.com time to read: +1 min

President Biden wants more of America’s cars and trucks to run on electricity, not gas. Mr. Biden’s aides agree that electric vehicles — which retail for more than $53,000 on average in the United States — would sell even faster here if they were less expensive. As it happens, there is a wave of new electric vehicles that are significantly cheaper than the ones customers can currently buy in the United States. Instead, the president is taking steps to make Chinese electric vehicles prohibitively expensive, in large part to protect American automakers. Mr. Biden signed an executive action earlier this month that quadruples tariffs on those cars to 100 percent.

Persons: Biden, Biden’s Locations: United States, Europe, China

☆ Fisker cuts deeper with new wave of summer layoffs
▼ + stars: | 2024-05-24 | by ( Grace Kay | ) www.businessinsider.com time to read: +1 min

Fisker initiated another round of layoffs on Wednesday, multiple sources told Business Insider. The company has gone through a series of cuts and warned it might go out of business. AdvertisementEmbattled EV startup Fisker kicked off another round of layoffs on Wednesday, four sources with knowledge of the issue told Business Insider. Fisker has made multiple cuts to its workforce over the last few months. This story is available exclusively to Business Insider subscribers.

Persons: Fisker, Henrik Fisker, —, Henrik Organizations: Business, Service

☆ UAW challenges Mercedes-Benz union vote, asks NLRB for new election
▼ + stars: | 2024-05-24 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

United Auto Workers (UAW) members and supporters on a picket line outside the ZF Chassis Systems plant in Tuscaloosa, Alabama, US, on Wednesday, Sept. 20, 2023. DETROIT – The United Auto Workers union is challenging the results of last week's organizing vote of Mercedes-Benz workers in Alabama, in which workers voted against union representation, and is asking federal officials to order a new election. Union organizing failed at the Alabama plant with 56% of the vote, or 2,642 workers, casting ballots against the UAW, according to the NLRB, which oversaw the election. The NLRB said its regional director will review the UAW's allegations of an unfair election. If after the hearing, she finds that the employer's conduct affected the election, she can order a new election.

Persons: Let's, isn't, Shawn Fain Organizations: United Auto Workers, UAW, ZF, Systems, DETROIT –, Mercedes, Benz, Union, National Labor Relations, NLRB Locations: Tuscaloosa , Alabama, Alabama, Detroit, Atlanta

☆ Chinese EV makers continue aggressive push into Europe under growing threat of tariffs
▼ + stars: | 2024-05-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

PARIS — Chinese electric carmakers are pushing ahead with expansion into Europe, even as politicians raise the possibility of high tariffs on vehicles from the world's second largest economy. The result of this probe could lead to tariffs on Chinese EV imports. The U.S. has already taken such a step, with the Biden administration imposing 100% tariffs on Chinese EV imports this week. Chinese EV makers have been aggressively expanding overseas, as they look to challenge Elon Musk's Tesla internationally but also to gain an early lead ahead of established automakers. China's EV industry has boomed over the years thanks to incentives and support from the Chinese government, which has concerned politicians in Europe and the U.S.

Persons: Xpeng, BYD, Biden, Elon Musk's Tesla, Bruno Le Maire Organizations: European Commission, EV, Companies, U.S, CNBC, French Finance Locations: Amsterdam, Netherlands, France, Paris, PARIS, Europe, China, U.S

☆ Elon Musk says he didn't ask for Biden's tariff on electric vehicles from China
▼ + stars: | 2024-05-23 | by ( Grace Kay | ) www.businessinsider.com time to read: +1 min

Elon Musk said he wasn't involved in President Joe Biden's tariff on Chinese electric cars. The White House announced the 100% tariff on Chinese EV imports on May 14. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk said he was surprised when President Joe Biden announced a tariff on Chinese electric vehicles. "Neither Tesla nor I asked for these tariffs," the Tesla CEO said during an interview at the VivaTech conference in Paris on Thursday.

Persons: Elon Musk, wasn't, Joe Biden's, Musk, —, Joe Biden, Tesla Organizations: White House, Service, Business Locations: Paris, China

☆ GM CEO Mary Barra says she has no plans to retire soon as automaker's transformation continues
▼ + stars: | 2024-05-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors CEO and Chair Mary Barra on Thursday said she has no plans to retire any time soon as she tries to ensure the company's transformation is on "a good path." Barra, who is the longest tenured CEO outside of the company's founder, has been asked about retirement for several years. "I'm having a lot of fun, and I want to make sure we have our transformation on a good path," she said during a fireside chat at a Detroit Economic Club meeting. Barra reiterated she serves at the pleasure of the GM board and that she continues to have "fun." Cruise and EVs, along with software-defined vehicles and services, have been among the largest potential growth areas under Barra, who became CEO in January 2014.

Persons: Mary Barra, Barra, I've, Cruise Organizations: Economic, Washington, DETROIT – General, GM, Detroit Locations: Washington , U.S, DETROIT, San Francisco, Barra

☆ Transition to next-generation AI chips and 2 other pressing questions ahead of Nvidia's earnings
▼ + stars: | 2024-05-22 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Nvidia's Hopper chips include the H100, which was announced in 2022 and faced severe supply shortages last year as the AI gold rush intensified. Tuesday's AWS news represents a pushout in demand for Nvidia chips, not a loss of it. That would be the so-called "digestion" phase for AI chips that Wall Street has been speculating about since last year. If anything, AWS deciding to wait for the more-powerful Blackwell chips could mean the digestion phase is further out on the horizon than initially thought. Unlike last year, when Nvidia's chips were in such short supply, there are now rival chips out there, such as AMD's MI300X, which is angling for a corner of the inferencing market .

Persons: you've, it's, Jim Cramer, Hopper, Blackwell, Nvidia's Hopper, There's, Grace Hopper Superchip, Kimberly Powell, Powell, Jim Cramer's, Jim, Jensen Huang, Justin Sullivan Organizations: Nvidia, Blackwell, Amazon Web Services, CNBC, NVIDIA, AWS, Club, SAP Center Locations: Hopper, Ceiba, San Jose , California

☆ Here are Wednesday's biggest analyst calls: Nvidia, Meta, Tesla, Chipotle, Ferrari & more
▼ + stars: | 2024-05-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Wednesday's biggest calls on Wall Street: Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla but says it's only a matter of time before others automakers begin to take advantage of AI also. Morgan Stanley reiterates Meta as overweight Morgan Stanley said that, as users adopt the company's Reels product it becomes a "monetization opportunity." Morgan Stanley reiterates Dell as a top pick Morgan Stanley said Dell remains a favorite name at the firm. Morgan Stanley reiterates McDonald's as overweight Morgan Stanley said it's standing by the fast-food chain. Morgan Stanley reiterates Ferrari as overweight Morgan Stanley said it's standing by its overweight rating on the automaker.

Persons: Morgan Stanley, Tesla, Piper Sandler, Piper, Meta, Dell, JMP, Oppenheimer, it's, Goldman Sachs, Goldman, Kraft Heinz, McDonald's, Rosenblatt, John Malone, Sportico, Morgan Stanley downgrades, Generac, Jefferies, Needham, Stryker, Ferrari, MSFT Organizations: GM, Ford, Nvidia, Blackwell, ODM, Lenovo, Dell, China Tech Hardware, Costco, " Bank of America, Bank of America, Kraft, Brunswick, UBS, Brunswick Corporation, Atlanta Braves Holdings, Deutsche Bank, Waste Management, Deutsche, Price, Jefferies, Prudential, Lincoln National, Microsoft, Garmin, of America Locations: Coinbase, Shopify

☆ GM all-electric Chevy Equinox goes on sale as the latest test for EV production and demand
▼ + stars: | 2024-05-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

The Equinox EV is launching with higher-priced models that start at roughly $43,000 to $51,100 (without any incentives). The Equinox EV is arriving to market following the Blazer EV and alongside GM's more than $96,000 Silverado EV RST. Equinox EVAll of that being said, the Equinox EV is an Equinox in name only. Outside of the U.S., the Equinox EV will be sold in Canada, Mexico, the Middle East and some South American markets such as Brazil. GM's 2024 Chevrolet Equinox EV (right) next to a gas-powered Chevy Equinox on May 16, 2024 in Detroit.

Persons: Michael Wayland, Mark Reuss, Tesla, Kathleen Murawski, Chevy Bolt, It's, We've, Rory Harvey, we've, Marissa West, West, Paul Waatti, Waatti Organizations: CNBC DETROIT, General Motors, GM, CNBC, Chevy, GMC Hummer EV, Blazer, Global, Silverado EV RST, Silverado, GM North America, Chevrolet, Motors, EV Locations: Detroit, China, U.S, Canada, Mexico, Brazil

☆ Rollback in IRA's EV incentives would benefit China, says GM board member
▼ + stars: | 2024-05-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Any significant reduction or a rollback of the Inflation Reduction Act's support for electric vehicles would benefit China, according to General Motors board member Jon McNeill. "I think we risk losing the auto manufacturing share to China. The IRA of 2022 includes incentives for consumers to purchase EVs as well as significant support for carmakers and suppliers to produce all-electric vehicles and their components in North America rather than overseas. The expansion of Chinese automakers has been a growing concern for companies from Detroit to Germany. Global automakers are worried that BYD and other Chinese rivals could flood their markets, undercutting domestic production and vehicle prices.

Persons: Jon McNeill, McNeill, Donald Trump Organizations: General Motors, DVx Ventures, CNBC, Global, Biden Locations: China, North America, Detroit, Germany

☆ Nissan delays shift to EVs at Mississippi factory, postponing five new models
▼ + stars: | 2024-05-21 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

CNN —Nissan is postponing a push to build new electric vehicles at its Canton, Mississippi, factory as sales of EVs are now growing more slowly than many industry experts had expected. EV sales in the US grew 2.6 % in the first quarter of 2024 compared to the same period in 2023, according to Kelley Blue Book. First quarter EV sales last year had outpaced 2022’s by a stunning 46.4%. Nissan still plans to offer a total of 19 EV models globally by 2030, a spokesperson said. Nissan previously announced it would invest $500 million in the factory to prepare it build the new electric vehicles.

Persons: Kelley, ” Nissan, Ford Organizations: CNN, Nissan, EV, Power, Infiniti, Automotive News, GM, Silverado EV Locations: Canton , Mississippi, Canton, Mississippi

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