Citing an improved supply of automotive computer chips, General Motors raised its financial guidance on Wednesday and said it expects to return to a normal production rate by the end of next year. Chief Financial Officer Paul Jacobson told investors on a virtual chat with Credit Suisse that the company has seen improvement in the […]
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The carmaker Stellantis said Monday that it has secured a five-year supply of battery-grade lithium hydroxide in Europe to support its plans to convert to 98% electrified vehicles by 2025. Stellantis, the company that combined PSA Peugeot and Fiat Chrysler, signed a binding agreement with Vulcan Energy Resources Ltd. in Germany, which uses geothermal energy […]
The $1 trillion infrastructure plan that President Joe Biden plans to sign into law has money for roads, bridges, ports, rail transit, safe water, the power grid, broadband internet and more. The plan promises to reach almost every corner of the country. It’s a historic investment that the president has compared to the building of […]
Rivian Automotive, a company that has delivered about 150 electric pickup trucks mostly to employees, has surpassed General Motors to become the nation’s second most valuable automaker. The California company’s market valuation exceeded Ford’s in its first day a public company Wednesday. Its shares rose 10% at the opening bell Thursday pushing its valuation over […]
U.S.-based chipmaker Nvidia, announced Wednesday plans to launch its latest technology to enlarge its grip in the automotive field, by incorporating a system that would fasten the training of these vehicles. Nvidia’s “Omniverse” simulation technology revolves around delivering the needed assistance for automotive vehicles by integrating both Artificial Intelligence (AI) and the company’s software. This […]
Hertz announced Monday that it will buy 100,000 electric vehicles from Tesla, one of the largest purchases of battery-powered cars in history and the latest evidence of the nation’s increasing commitment to EV technology. The news of the deal triggered a rally in Tesla’s stock, driving the carmaker’s market value over the $1 trillion mark […]
LG Electronics has reached a deal with General Motors to pay $1.9 billion to $2 billion to reimburse the automaker for the cost of recalling Chevrolet Bolt electric vehicles due to the risk of battery fires. The automaker, which announced the deal in a statement early Tuesday, says it will show the estimated recovery in […]
Tesla says it delivered 241,300 electric vehicles in the third quarter even as it wrestled with a global shortage of computer chips that has hit the entire auto industry. The Palo Alto, California, company’s sales from July through September beat Wall Street estimates of 227,000 sales worldwide, according to data provider FactSet. Third-quarter sales rose […]
Amidst Beijing’s latest regulatory wave to impose dominion on its tech sector, China’s Big Tech shares drastically dropped on Monday as the country’s watchdogs intend to break down Ant Group Co.’s Alipay, at a speed the U.S. and the European Union cannot fathom or dare to indulge in. Following a Financial Times report stating that Beijing is […]
A Tesla using its partially automated driving system slammed into a Florida Highway Patrol cruiser Saturday on an interstate near downtown Orlando and narrowly missed its driver, who had pulled over to assist a disabled vehicle. Earlier this month, the U.S. government opened a formal investigation into Tesla’s Autopilot driving system after a series of […]