Month: October 2020

DETROIT — See if this sounds familiar: A start-up EV company is basically gifted a modern plant chock-full of world-class production equipment. To reduce product-development costs and time, its first vehicle uses thousands of proven off-the-shelf parts from major suppliers and established automakers. Lordstown Motors is closely following Tesla’s early playbook as it gears up
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As automakers seek to make their vehicles increasingly connected — especially given the myriad benefits that can be provided — there are still some wrinkles to iron out. Chief among them? Cybersecurity threats, consumer data privacy concerns and the possibility of connectivity — or a lack thereof — affecting safety-critical functions of a vehicle. In
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MILAN — Fiat Chrysler expects the costs of launching full-electric and plug-in hybrid cars to negatively affect its money-losing European business even more in the fourth quarter than in the third quarter. That is because the industrial costs associated with the automaker’s electrification program will increase, FCA Chief Financial Officer Richard Palmer told analysts during
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What kind of vehicle is the 2021 Mercedes-Benz GLS-Class? What does it compare to? The 2021 Mercedes-Benz GLS-Class is a high-end luxury SUV, one that favors opulence over affordability. Shop the GLS against the Land Rover Range Rover, BMW X7, Cadillac Escalade, Lincoln Navigator, and Lexus LX 570.  Is the 2021 Mercedes-Benz GLS-Class a good
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TurboZentrum’s heavily-modded Toyota Supra A80 crashed earlier this month during the TTT half-mile drag racing event held at the Lausitzring racetrack in Germany. According the company, Yalcin Belen, who was driving the 1,500-horsepower dragster, had to swerve to avoid an obstacle while doing around 220 km/h (137 mph) in fourth gear. Watch Also: Which Sounds
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The latest online used-vehicle company preparing to go public has spotted the same trends its predecessors have: a highly fragmented market, relatively low e-commerce penetration and a consumer appetite for online shopping. But CarLotz Inc., a consignment platform that expects to go public via a reverse merger this quarter, raising $321 million in cash, should
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Shares of electric vehicle start-up Fisker Inc. closed up 13% in the company’s public debut Friday on the New York Stock Exchange. The stock jumped as much as 19% before closing at $10.14 a share. It began trading Friday after finalizing a reverse merger this week with Spartan Energy Acquisition Corp., a special purpose acquisition
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By Joey Klender Posted on October 30, 2020 Tesla has outsold Volkswagen, Renault, Hyundai-Kia, and BMW in electric vehicle sales in 2020 so far, new data shows. The Elon Musk-led Tesla, based out of Silicon Valley, California, holds 18% of the total 2020 market share in EV sales. The next closest automaker is Volkswagen, with
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General Motors said Monday that it is suspending its quarterly dividend and stock buybacks to preserve cash during the coronavirus pandemic. JEFF KOWALSKY | AFP | Getty Images General Motors has tapped Delta Air Lines CFO Paul Jacobson to replace Dhivya Suryadevara, who unexpectedly left GM for digital payments company Stripe in August, the automaker
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Ford will replace the battery pack in the Kuga plug-in hybrid to fix a problem that caused a number of the compact SUVs to catch fire. “The root cause has been identified as a battery cell contamination issue in our supplier’s production process,” Ford said in a statement. “We have determined that the best course
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