Industry

MG Motor to build manufacturing plant and research and development center in Mexico

MG has announced plans to establish a car plant and R&D center in Mexico, becoming the second Chinese automaker to do so.

Evgenii Ushakov

Aug. 9, 2024, 4:42 p.m.
Rivian cuts costs, but still loses over $32,000 on every EV it builds

Rivian, the electric car manufacturer, continues to face financial challenges despite its efforts to cut costs. In the second quarter of 2024, the company lost over $32,000 on every EV it built.

Evgenii Ushakov

Aug. 9, 2024, 4:07 p.m.
Elon Musk cancels partnership between Tesla and Costco in Taiwan just hours after it was announced

Tesla in Taiwan announced a special partnership with Costco yesterday. Less than 24 hours later, Elon Musk says he’s axed the program because it wasn’t approved.

Evgenii Ushakov

Aug. 8, 2024, 1:22 p.m.
The cost of EV battery packs has been reduced by 90 percent from 2008 to 2023

The cost of electric vehicle battery packs has dropped dramatically over the past 15 years. The U.S. Department of Energy's Vehicle Technologies Office reports a 90% decrease in the average cost of lithium-ion battery packs for light-duty electric vehicles between 2008 and 2023.

Evgenii Ushakov

Aug. 7, 2024, 1:30 p.m.
Mitsubishi kills the Mirage and becomes a pure crossover brand in the U.S.

Mitsubishi is saying goodbye to the Mirage in America. The company will stop making the Mirage and Mirage G4 models for the 2025 model year. This change turns Mitsubishi into a brand that only sells crossovers in the United States.

Evgenii Ushakov

Aug. 7, 2024, 11:12 a.m.
US regulators close in on recall of up to 51 million dangerous airbags

The National Highway Traffic Safety Administration (NHTSA) is about to announce a huge recall of airbags. They're saying up to 51 million airbags made by ARC Automotive and Delphi Automotive could be dangerous and need to be replaced.

Evgenii Ushakov

Aug. 7, 2024, 10:15 a.m.
Trump says he has 'no choice' but to support electric vehicles because of Elon Musk's endorsement

Former President Donald Trump announced at a rally on Saturday that he supports electric vehicles due to an endorsement from Tesla CEO Elon Musk. Despite this, Trump criticized EV infrastructure and Biden's EV mandates.

Evgenii Ushakov

Aug. 5, 2024, 9:32 a.m.
Now Audi says internal combustion cars could remain

One by one, automakers are backtracking on the ambitious EV goals they set a few years ago. 

Evgenii Ushakov

Aug. 2, 2024, 5:14 p.m.
United Auto Workers backs Harris for president

The United Auto Workers (UAW) union endorsed Vice President Kamala Harris for U.S. president on Wednesday, providing a significant boost for her campaign in the swing state of Michigan.

Evgenii Ushakov

Aug. 1, 2024, 2:03 p.m.
Stellantis begins offering buyout packages to US employees

Stellantis is offering a voluntary buyout package to its salaried US workforce of around 11,000 employees. This move follows less than a week after CEO Carlos Tavares warned of potential brand shutdowns if they were not profitable.

Evgenii Ushakov

Aug. 1, 2024, 11:17 a.m.
Sim racing equipment supplier Fanatec has just gone bankrupt

This announcement came almost three months after PC accessory giant Corsair revealed plans to acquire Endor and restructure the company’s $75 million debt.

Evgenii Ushakov

Aug. 1, 2024, 9:03 a.m.
Uber and BYD team up to bring 100,000 EVs to its ride-hailing platform

Uber and Chinese automaker BYD have announced a multi-year partnership to introduce 100,000 new electric vehicles (EVs) to Uber’s ride-hailing platform globally.

Evgenii Ushakov

July 31, 2024, 4:19 p.m.
Famous sports seat manufacturer Recaro files for bankruptcy

Recaro has filed for bankruptcy, receiving approval for self-administration from a German court, as reported by Autocar.

Evgenii Ushakov

July 31, 2024, 11:53 a.m.
Someone deepfaked Ferrari CEO voice in an scam attempt

Scammers pretending to be Ferrari's CEO Benedetto Vigna have been stopped in their tracks, thanks to a quick-thinking executive.

Evgenii Ushakov

July 30, 2024, 12:28 p.m.
Toyota brings production of new hybrid transaxle to the U.S.

Toyota West Virginia has started producing the OEM's fifth-generation hybrid transaxle, a key component of Toyota's electrification strategy, according to a news release.

Evgenii Ushakov

July 29, 2024, 4:07 p.m.
Mitsubishi seeks to join the alliance of Nissan and Honda

Honda, Nissan, and Mitsubishi will join forces to compete with the other giants of the automobile industry.

Evgenii Ushakov

July 29, 2024, 3:49 p.m.
Used car prices soar in USA because new cars are too expensive

You'll pay 60 percent more for a 10-year-old car today compared to 2014.

Evgenii Ushakov

July 29, 2024, 2:26 p.m.
Mazda has registered a new logo, check it out

The good news is that the new logo isn't much different from the old one, so it shouldn't be hard to recognize.

Evgenii Ushakov

July 29, 2024, 1:06 p.m.
Stellantis threatens to cut off car brands that don't make any money

Some analysts suggest Maserati might be a target for sale by Stellantis, while other brands like Lancia or DS could be at risk of being discontinued due to their minimal impact on the group's overall sales.

Evgenii Ushakov

July 29, 2024, 12:47 p.m.
Volvo reconsiders full electrification due to EV sales slump in key markets like US and China

Volvo CEO Jim Rowan reaffirmed his commitment to electric vehicles (EVs) but acknowledged the challenge of achieving global electrification.

Evgenii Ushakov

July 29, 2024, 9:18 a.m.

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