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☆ GM quarterly auto sales rise 19% on strong demand
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: 1 min

Companies General Motors Co FollowJuly 5 (Reuters) - General Motors (GM.N) on Wednesday reported a 19% rise in second-quarter U.S. auto sales as easing supply chain pressures allowed the automaker to ship more cars and trucks to dealers. GM said second-quarter sales jumped to 691,978 vehicles from 582,401 vehicles a year earlier. Reporting by Pratyush Thakur in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Pratyush Thakur, Shounak Dasgupta Organizations: General Motors, GM, Thomson Locations: Bengaluru

☆ Explainer: Why U.S. labor unions are gaining leverage in contract talks with big employers
▼ + stars: | 2023-07-05 | by ( Aishwarya Nair | ) www.reuters.com time to read: +3 min

July 5 (Reuters) - U.S. union workers are finding more solid footing during contract negotiations with employers as a tight labor market allows employees to flex more bargaining power. Airline pilots, railroad employees, dockworkers, and others have pushed for higher pay and better benefits, rebuffing offers from companies that in some contracts appeared significant. The two on Wednesday accused each other of walking away from negotiations over a new contract. WHAT ARE SOME NOTABLE UPCOMING CONTRACT NEGOTIATIONS? Among U.S. airlines, Southwest Airlines (LUV.N) is yet to reach an agreement with its pilots union.

Persons: Joe Biden, Aishwarya Nair, Sriraj Organizations: Airline, United Parcel Service, Teamsters Union, Congress, Unions, United Auto Workers ', UAW, Detroit, Stellantis, General Motors Co, Ford Motor, U.S, Southwest Airlines, Southwest Airlines Pilots Association, Thomson Locations: Washington, Bengaluru

☆ Apple makes history as first $3 trillion company amid tech stock surge
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

The iPhone maker's advance was among the most eye catching in a month marked by investor interest in the potential of artificial intelligence, with share buyers also particularly favouring companies with strong balance sheets and cash flows. In a similar vein, electric car maker Tesla Inc (TSLA.O) witnessed a 28% jump in its market capitalization in June. The company's shares have soared following a revenue forecast that was more than 50% above the Wall Street estimate in May. Apple and Microsoft Corp (MSFT.O) led the list of top 20 global companies by market capitalization at the end of June. By contrast, Alphabet Inc's (GOOGL.O) market cap dropped 2.3% last month to $1.53 trillion, on rising competitive pressures from Microsoft's Bing which has grown in prominence after the integration of the artificial intelligence behind ChatGPT.

Persons: Bing, Patturaja Murugaboopathy, Gaurav Dogra, David Holmes Organizations: Apple Inc, Federal Reserve, Tesla Inc, Reuters Graphics, Ford Motor, General Motors Co, Nvidia Corp, Apple, Microsoft Corp, Reuters, Thomson Locations: Bengaluru

MELBOURNE, June 26 (Reuters) - Element 25 Ltd (E25.AX) said on Monday it will supply manganese sulphate to General Motors Co (GM.N) as the automaker looks to secure supply of battery minerals for its North American electric vehicle production, sending its shares up more than 20%. The deal is the second by General Motors for Australian battery minerals as automakers globally rush to secure supply. Shares of Element 25 rallied as much as 23% before trading at A$0.69, up 15%. GM will provide Element 25 with an $85 million loan to partially fund the construction of the facility for production of battery-grade manganese sulphate, the ASX-listed miner said. Element 25 expects to invest about $290 million in total to build the facility, and it is scheduled to open in 2025.

Persons: Harish Sridharan, Melanie Burton, Kim Coghill, Chris Reese Organizations: MELBOURNE, General Motors Co, General Motors, Queensland Pacific Metals, GM, Thomson Locations: Queensland, Louisiana, North America, Bengaluru, Melbourne

☆ GM investing $920 million in Ohio diesel engine plant
▼ + stars: | 2023-06-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Companies General Motors Co FollowWASHINGTON, June 20 (Reuters) - General Motors (GM.N) on Tuesday said it was investing $920 million to expand operations at its Ohio diesel engine plant for production of future internal combustion engine (ICE) heavy-duty truck powertrain products. GM on Tuesday said it will build a 1.1-million-square-foot expansion of the its Brookville, Ohio, diesel engine facility and install new technology and equipment, more than quadrupling the current size of the facility, which produces Duramax diesel engines for the Chevrolet Silverado HD and the GMC Sierra HD. GM declined to release "product details and timing related to its "future HD truck powertrain products." GM also announced C$280 million ($210 million) in its Canadian Oshawa Assembly and $632 Million in Fort Wayne, Indiana, for future next-generation ICE full-size trucks. GM did not post an announcement on its website about the $920 million Ohio investment, but sent a press release to Reuters after Senator Sherrod Brown, of Ohio, issued a statement touting the plan.

Persons: Sherrod Brown, David Shepardson, Leslie Adler Organizations: General Motors, Ohio, U.S, GM, Chevrolet Silverado, GMC Sierra HD, Canadian Oshawa Assembly, U.S . Environmental Protection Agency, Reuters, Thomson Locations: WASHINGTON, Brookville , Ohio, Flint , Michigan, Arlington , Texas, Fort Wayne , Indiana, California, Ohio

☆ Stellantis says it is evaluating Tesla's charging standard
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: 1 min

BERKELEY, California, June 13 (Reuters) - Automaker Stellantis (STLAM.MI) said on Tuesday that it continues to evaluate Tesla's charging standard after Ford Motor Co (F.N) and General Motors Co (GM.N) said they were adopting it. "At this time, we continue to evaluate the NACS standard and look forward to discussing more in the future," Stellantis said in a statement to Reuters, referring to Tesla's charging design, the North American Charging Standard (NACS). "Our focus is to provide the customer the best charging experience possible. Our Free2Move Charge brand will offer seamless, simple solutions whether at home or on-the-go through partnerships with charging providers," it said. Reporting by Joe White and Hyunjoo Jin; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Stellantis, Joe White, Jin, Jonathan Oatis Organizations: Ford Motor, General Motors Co, American, Thomson Locations: BERKELEY, California

☆ Analysis: EV charger makers guardedly look to adopt Tesla standard
▼ + stars: | 2023-06-12 | by ( Abhirup Roy | ) www.reuters.com time to read: +5 min

The White House said on Friday that EV charging stations that offer Tesla plugs would be eligible for billions of dollars in federal subsidies as long as they included CCS connectivity. The White House aims to spur deployment of hundreds of thousands of chargers, which it sees as integral to EV adoption. The person, who now works for a charging company, is not authorized to speak to the media and declined to be named. The company that is developing CCS chargers, is "reviewing" its strategy because of the Tesla-GM deal. Logvinov, who is also chief executive of EV charging parts supplier IoTecha, said CCS was worth backing because it had worked for more than a decade with multiple vendors.

Persons: Biden, Tesla, Asaf Nagler, Ashley Horvat, BLNK.O, Jonathan Levy, Aatish Patel, Patel, Superchargers, Oleg Logvinov, Abhirup Roy, Hyunjoo Jin, Jarrett Renshaw, Sayantani Ghosh, Jonathan Oatis Organizations: Ford, GM, Tesla Inc, Tesla's, EVgo Inc, ABB, America, ABB Ltd, Schneider, EV, Ford Motor Co, General Motors Co, ChargePoint Holdings, Reuters, Tesla, CharIN, Logvinov, IoTecha, Thomson Locations: U.S, Swiss, America, CharIN North America, San Francisco, Philadelphia

The benchmark S&P 500 (.SPX) built on Thursday's 20% rise from its Oct. 12 finishing low, heralding the start of a new bull market as defined by some market participants. The S&P 500 (.SPX) gained 4.93 points, or 0.11%, at 4,298.86, taking this week's advance to 0.38% and extending its winning streak to four weeks, the longest since the July-August 2022 period. The Dow Jones Industrial Average (.DJI) rose 43.17 points, or 0.13%, to 33,876.78, for a weekly gain of 0.33%. Declining issues outnumbered advancing ones on the NYSE by a 1.49-to-1 ratio; on Nasdaq, a 1.84-to-1 ratio favored decliners. The S&P 500 posted 15 new 52-week highs and five new lows; the Nasdaq Composite recorded 84 new highs and 53 new lows.

Persons: Dow Jones, Tim Holland, Brendan McDermid, Rick Meckler, Wells, Sruthi Shankar, Shristi, Vinay Dwivedi, Richard Chang Organizations: Adobe, Citi, Nasdaq, Tesla Inc, General Motors Co, GM, Orion, Dow Jones, Apple Inc, Devices, Nvidia Corp, NYSE, American Stock Exchange, New York Stock Exchange, REUTERS, Brendan McDermid Traders, Cherry Lane Investments, Target Corp, Adobe Inc, Netflix Inc, Thomson Locations: Wells Fargo, New York City, U.S, Bengaluru

☆ GM to invest $500 million to build next-generation Cadillac Escalade, other large SUVs
▼ + stars: | 2023-06-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors plans to invest more than $500 million in a plant in Texas to prepare the facility for production of its highly profitable next-generation large SUVs. GM on Monday made a similar announcement for its next-generation heavy-duty pickups, which share the frame of the large SUVS. The truck investment included more than $1 billion in two Michigan plants for production of next-generation heavy-duty trucks. The automaker recently confirmed an all-electric version of its Cadillac Escalade but declined to disclose when the vehicle will come to market. The investment announcements come ahead of contract negotiations between the Detroit automakers, including GM, and the United Auto Workers union this summer.

Organizations: General Motors Co, DETROIT –, Motors, Detroit, Chevrolet Tahoe, GMC Yukon, Yukon XL, GM, United Auto Workers, UAW Locations: Arlington , Texas, DETROIT, Texas, Arlington, Yukon, Michigan, EVs

☆ GM to invest more than $500 mln in Texas plant for future SUVs
▼ + stars: | 2023-06-08 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Companies General Motors Co FollowJune 8 (Reuters) - General Motors (GM.N) said Thursday it will invest more than $500 million in its Arlington, Texas assembly plant to prepare it for production of next-generation internal combustion engine full-size SUVs. Efforts to retool existing North American auto plants and introduce more efficient next-generation internal combustion models are also being planned, sources told Reuters. GM faces increasingly stringent emissions requirements from California and the Environmental Protection Agency (EPA). On Tuesday, GM said it would invest C$280 million ($210 million) in its Canadian Oshawa Assembly to produce the next-generation internal combustion engine full-size trucks. GM faces pressure from the United Auto Workers union, which will enter contract talks with the Detroit Three automakers this summer.

Persons: Mary Barra, Gerald Johnson, David Shepardson, Shivansh, Shilpi Majumdar, Diane Craft Organizations: General Motors, Detroit, Reuters, GM, Environmental Protection Agency, Chevrolet Tahoe, Suburban, Canadian Oshawa Assembly, EPA, Michigan, Capitol, United Auto Workers union, Detroit Three, UAW, Thomson Locations: Arlington , Texas, California, Flint , Michigan, Texas, Washington, Bengaluru

The deal, announced last month, would open more than 12,000 Tesla Superchargers to drivers of Ford vehicles in North America starting in 2024. SS&C has invested in such charging companies as ChargePoint Holdings Inc (CHPT.N), EVgo Inc (EVGO.O) and Blink Charging Co (BLNK.O). The Ford deal was a boost to Tesla's more widespread, reliable North American Charging Standard (NACS) and dented the value of smaller players offering the rival Combined Charging System (CCS). Complaints about other charging companies' software bugs or broken charging hardware only opens the door to greater access for Tesla's standard, however, industry officials said. Under its new deal, Ford will distribute Tesla adapters to customers and starting in 2025 will equip future EVs with NACS.

Persons: Joe Biden, Paul Baiocchi, Ford, Elon Musk, Tesla's, Biden, Pete Buttigieg, Tesla, Lazard, Mohit Kohli, Chris Harto, Arcady Sosinov, Chris Anthony, Sosinov, Abhirup Roy, Hyunjoo Jin, David Shepardson, Jarrett Renshaw, Ben Klayman, Matthew Lewis Organizations: FRANCISCO, Ford, North America, U.S, SS, C ALPS Advisors, ChargePoint Holdings, EVgo Inc, CNBC, CCS, EVs, Volta, Volkswagen AG, General Motors Co, BMW, Consumer, Aptera, Thomson Locations: U.S, North, Europe, San Francisco, Washington

[1/3] A Chevrolet 2020 heavy-duty pickup truck is seen at the General Motors Flint Assembly Plant in Flint, Michigan, U.S. February 5, 2019. GM has outlined this year a total of $1.7 billion in investments in Flint facilities to support the next generation of its heavy duty pickups. GM said it will spend $579 million at its Flint Engine Operations to produce a sixth generation of its small block V-8 combustion engine. Another $103.5 million will be spent upgrading a separate Flint facility that supports truck production. GM expects to start bargaining with the United Auto Workers union for a new contract with a deadline of Sept. 14 to reach an agreement with it U.S. production workers.

Persons: Rebecca Cook, Ram, Mike Booth, Shawn Fain, Fain, Priyamvada, Shilpi Majumdar, David Gregorio Our Organizations: General Motors, REUTERS, General Motors Co, GM, Ford Motor, Detroit Three, United Auto Workers, Investment, UAW, Thomson Locations: Flint , Michigan, U.S, Flint, Kokomo , Indiana, Kokomo, Asia, Bengaluru

☆ GM CEO stands by her bet on autonomous vehicles
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: 1 min

Companies General Motors Co FollowDETROIT, June 2 (Reuters) - General Motors Co(GM.N) Chief Executive Mary Barra had a message on Friday for investors and rivals who see no profitable future in autonomous vehicles: You're wrong. Barra told attendees at a Sanford Bernstein conference that she sees a "giant growth opportunity" in GM's Cruise autonomous vehicle unit, and predicted personal self-driving cars would be on the market before the end of the decade. Barra reiterated a forecast that Cruise could generate $50 billion a year in annual revenue by 2030. GM currently is losing money on Cruise at the rate of $2 billion a year. Rivals, including Ford Motor Co and Volkswagen AG, have pulled the plug on autonomous vehicle efforts as losses mounted.

Persons: Mary Barra, Barra, Sanford Bernstein, Joe White Organizations: General Motors, General Motors Co, GM, Cruise, Rivals, Ford Motor Co, Volkswagen AG, Thomson Locations: DETROIT, GM's

☆ GM, POSCO Future M to boost investment at Canada battery materials plant
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

June 2 (Reuters) - General Motors Co (GM.N) and South Korea's POSCO Future M said on Friday they will invest more to boost production at their chemical battery materials facility in Canada, taking their estimated total investment in the plant to over $1 billion. The companies said the new investment includes an additional CAM and a precursor facility for local on-site processing of critical minerals. The development comes a few days after the Canada's federal government and the Quebec province each provided about C$150 million ($112 million) for the facility. The companies last year established Ultium CAM joint venture, which is majority owned by POSCO Future M, and had initially invested about $327 million, according to media reports. Their battery facility in Becancour, Quebec, will produce cathode active material (CAM) for electric vehicle (EV) batteries.

Persons: Priyamvada, Shinjini Organizations: General Motors Co, POSCO, Thomson Locations: Canada, Quebec, Becancour, Bengaluru

DETROIT, June 2 (Reuters) - General Motors Co (GM.N) Chief Executive Mary Barra had a message on Friday for investors and rivals who see no profitable future in autonomous vehicles: You're wrong. That target assumes deployment of Cruise technology and services outside the United States - Dubai and Japan are among the future markets - as well as expansion into goods delivery and personal autonomous vehicles, Barra said. Rivals, including Ford Motor Co (F.N) and Volkswagen AG (VOWG_p.DE), have pulled the plug on autonomous vehicle efforts as losses mounted. Barra said those states have a more welcoming regulatory environment for self-driving vehicles. GM has petitioned U.S. vehicle safety regulators to deploy up to 2,500 of its Origin vehicles, which have subway-like doors and no steering wheel.

Persons: Mary Barra, Barra, Sanford Bernstein, Cruise, Joe White, Tiwary, David Shepardson, David Holmes Organizations: DETROIT, General Motors Co, Cruise, GM, Rivals, Ford Motor, Volkswagen AG, Traffic Safety Administration, NHTSA, Chevrolet, Cadillac, Tesla Inc, EV, Thomson Locations: GM's, United States, Dubai, Japan, San Francisco, Arizona and Texas, Washington, U.S, China

The Hebei-based company is also considering establishing a research and development centre in Thailand that could work on battery powered pickup trucks, Narong Sritalayon, managing director of Great Wall Motor Thailand said in an interview. "I think there is a lot of things we can learn from Thailand's unique market for pickup trucks," Narong said. Great Wall launched its Ora Good Cat compact EV in Thailand in late 2021. Great Wall entered Thailand in 2020 after taking over a former General Motors Co (GM.N) plant that currently makes two of its Haval hybrid vehicles for sale in the country. But the facility could be upgraded for battery cell production with additional investment depending on demand and Thai government support, Great Wall added.

[1/2] A Tesla vehicle is charged at a Tesla supercharging station in Kettleman City, California, U.S., January 25, 2023. REUTERS/Mike Blake/File PhotoMay 26 (Reuters) - Ford Motor Co (F.N) shares jumped by more than 7% on Friday after the No. 2 U.S. automaker announced a deal allowing its electric-vehicle owners to access rival Tesla Inc's (TSLA.O) charging stations in North America. Ford shares were up 7.6% at $12.25 in afternoon trade, while Tesla shares rose 7.5% to $197.95. U.S. Transportation Secretary Pete Buttigieg praised the Ford-Tesla deal, but told CNBC that the Biden administration would not dictate an EV charging standard.

SEOUL, May 26 (Reuters) - South Korea's Hyundai Motor Group and LG Energy Solution Ltd (LGES) (373220.KS) on Friday said they will build a $4.3 billion electric vehicle (EV) battery plant in the United States amid a push to take advantage of tax credits. Vehicles from Hyundai Motor Co (005380.KS) and sister automaker Kia Corp (000270.KS) are currently not eligible. [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. LGES and Hyundai Motor Group, which houses Hyundai Motor, Kia and autoparts maker Hyundai Mobis Co Ltd (012330.KS), will each own 50% of the joint venture. In April, Hyundai Motor finalised a $5 billion EV battery joint venture in the United States with SK On, a battery unit of SK Innovation Co Ltd (096770.KS), boosting electrification efforts in its largest market.

Musk revealed those plans on Tuesday at the company's annual meeting, an about-face for the celebrity executive who recently acquired social media platform Twitter. Musk told CNBC he did not yet have a "fully formed strategy" for Tesla advertising. Tesla spent $151,947 on advertising in the U.S. in 2022, according to advertising intelligence firm Vivvix, which measured ads across places including TV, social media, Web banners and billboards. Diaz-Ortiz is a former Twitter manager who has written books about the social media company. Thomas Martin, senior portfolio manager at Tesla shareholder Globalt Investments, sees Musk's embrace of advertising as a positive.

☆ TSX tumbles after hotter-than-expected inflation data
▼ + stars: | 2023-05-16 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

A report by Statistics Canada showed that April annual consumer inflation had surprisingly ticked up, fueled by higher rental and mortgage interest costs. "Underlying core inflation is settling in around 4%, which is clearly still too high for the BoC's comfort." ET (14:14 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 235.32 points, or 1.15%, at 20,304.65. The materials sector (.GSPTTMT) tumbled 1.4% and was the biggest drag on the TSX, tracking weak base- and precious-metal prices. Reporting by Johann M Cherian and Vansh Agarwal in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Interior Department on Tuesday removed one of the last remaining obstacles to Lithium Americas Corp's (LAC.TO), Thacker Pass mine project in Nevada by finding nearly all of the site contains the metal used to make electric-vehicle batteries. The opinion from the department's solicitor comes amid an acrimonious debate about whether more U.S. mines should be built to produce lithium and other green energy transition metals. Of the dozens of mining claims at the Thacker Pass site held by the company, the government found fewer than 10 did not contain lithium mineralization, an Interior Department official told Reuters. "They're going to be able to start construction and production without these claims being in the plan of operation," the official said of Lithium Americas. "We're in favor of increasing domestic mineral production when it's being done in the right location and in the right way," the official said.

☆ GM, VW face idled capacity risk in China without faster EV transition -Greenpeace
▼ + stars: | 2023-05-11 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Rebecca Cook/File PhotoSHANGHAI/BERLIN, May 11 (Reuters) - Automakers including Volkswagen and General Motors could have considerable unused production capacity for conventionally powered vehicles in China by 2030 if they do not speed up their transition to electric vehicles (EV), Greenpeace said on Thursday. By the end of 2021, China had total annual production capacity for 40.89 million passenger vehicles of all fuel types with a utilisation rate of 52.5%, showed data from the China Passenger Car Association. If the sales rate reaches 70%, the average unused capacity utilisation rate for ICE production would rise to two thirds, Greenpeace said, basing its estimates on public information about planned capacity and projected sales. GM and Volkswagen will face the largest pressure with over 3 million units of idled capacity for ICE cars in China, presenting a major risk for those automakers, Greenpeace said. Volkswagen pointed to its rising sales in China and said it expects to profit from the country's growing demand for cars.

DETROIT, May 10 (Reuters) - General Motors Co (GM.N) will consolidate North American sales operations for commercial vehicles, parts and telematics services under a new brand umbrella, GM Envolve, that will compete with Ford Motor Co's (F.N) Ford Pro unit and others for revenue from business vehicle fleets. GM executives said the reorganization is aimed at making it easier for commercial fleet customers to negotiate electric and combustion vehicle purchases and sign up for services and software offerings that GM is developing to generate revenue after the vehicle sale. GM is battling with Ford and Stellantis NV for a bigger share of the commercial fleet market. Ford created its Ford Pro commercial fleet unit in May 2021, and is aiming to increase its annual revenue to $45 billion by 2025, driven in part by software-enabled services. Both Ford and GM say they are leaders in commercial fleet sales, using different definitions of the market.

☆ Australia's Allkem, Livent to merge into $10.6 bln lithium giant
▼ + stars: | 2023-05-10 | by ( Harish Sridharan | ) www.reuters.com time to read: +2 min

May 10 (Reuters) - Lithium producer Allkem Ltd (AKE.AX) has agreed to merge with U.S.-based Livent Corp (LTHM.N) to create one of the world's most valuable producers of the key raw materials used in electric-vehicle batteries. The all-stock deal will create a $10.6 billion entity, the fifth-largest in the world after Albemarle Corp (ALB.N), Sociedad Quimica y Minera de Chile S.A. (SQMA.SN), Ganfeng Lithium Group (002460.SZ) and Tianqi Lithium Corp (002466.SZ). ASX-listed Allkem produces lithium carbonate from its Sal de Vida facility in Argentina, which is near Livent's Hombre Mureto lithium project. Livent, based in Philadelphia, supplies lithium products to multiple U.S. automakers, including General Motors Co (GM.N), Tesla Inc (TSLA.O) and BMW (BMWG.DE). Under the deal, Allkem shareholders will get one share in the combined entity for each of their shares and the company will ultimately own 56% of the new firm.

[1/2] A Ford Ranger Raptor is seen at a Ford event in Michigan, U.S., May 5, 2023. REUTERS/Joe WhiteDETROIT, May 10 (Reuters) - Ford Motor Co (F.N) on Wednesday unveiled the latest addition to its muscle truck franchise - a Ranger Raptor midsize pickup with a 405-horsepower engine and a suspension designed for racing across the desert, made possible in part by Ford's electric vehicles. But a Ranger Raptor will start at $56,960, Ford said. Ford is also ramping up production of its Mustang Mach-E, Ford F-150 Lightning and Transit electric vehicles - generating credits that allow it to sell more high-performance, combustion vehicles such as the Ranger Raptor, the Bronco Raptor and the F-150 Raptor. "We're doing it through a portfolio of products" that includes electric vehicles and a hybrid Maverick pickup, Baumbick said.

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