General Motors is acquiring SoftBank Vision Fund’s equity ownership stake in Cruise and plans to make an additional investment that will bring its share of the self-driving vehicle company to 80 percent. The automaker is acquiring SoftBank’s stake for $2.1 billion. The additional investment will be for $1.35 billion. Honda Motor Co. is also a
Month: March 2022
In this article GM A robot car of the General Motors subsidiary Cruise is on a test drive. Andrej Sokolow | picture alliance | Getty Images DETROIT – General Motors is acquiring SoftBank Vision Fund 1’s equity ownership stake in its majority-owned Cruise autonomous vehicle unit for $2.1 billion, the automaker announced Friday afternoon. Softbank
FRANKFURT — Porsche, which parent Volkswagen Group could float in a partial stock market listing later this year, set out a more ambitious sales target for electric vehicles. More than 80 percent of newly sold Porsche vehicles will be fully electric in 2030, Porsche CEO Oliver Blume said at the group’s annual press conference on
Maserati has been out testing prototypes for a redesigned GranTurismo for over a year, but the latest tester is the first we’ve seen for a planned electric version of the car. Maserati is committed to offering an electric option on all of its cars by the middle of the decade, with the redesigned GranTurismo to
4:54 AM ET Formula One chief executive Stefano Domenicali said the controversial end to last year’s Abu Dhabi Grand Prix had not eroded the trust of the sport’s fans as it prepares to embark on a new era at this weekend’s season-opener in Bahrain. Max Verstappen clinched his first title at the Yas Marina season
A machine gun or anti-aircraft gun in the bed of a regular pickup truck is a familiar image in this day and age in various parts of the world (unfortunately), but adding heavy weaponry to a luxury convertible isn’t something you encounter everyday. Ukrainian Weapons Tracker on Twitter posted a video of a BMW 6-Series
The first two-seater electric Porsche will be a 718, executives confirmed on a video call with reporters. Drivers can also expect a hybrid version of the Porsche 911, Oliver Blume, Porsche’s CEO, said Thursday. But Blume did not specify when the production hybrid, which would use full rather than plug-in hybrid technology, would begin. The
Porsche has updated its electrification goal today with the release of its financial results. The German automaker now sets a goal for 80% of sales to be all-electric by 2030. After launching the Taycan and seeing the strong interest the public had for the electric vehicle, Porsche set a goal for “50 percent of its
The all-electric Porsche Taycan Turbo. Source: Porsche AG DETROIT – As the all-electric Porsche Taycan sedan outsells the German carmaker’s iconic 911 sports car, the company is increasing its EV sales targets. It also plans to roll out a hybrid version of the 911. Porsche on Friday announced it expects 80% of its global sales
Maserati has a long and proud history of producing some very fine cars but in recent years, its models have left a little to be desired, in part because of how outdated many of them are. Fortunately, there is an all-new Maserati on the market and it is something very special. While many car manufacturers
TURIN – Maserati will sell only full-electric cars from 2030 and will launch its last two new models with internal combustion engine variants in 2023. CEO Davide Grasso said the Stellantis luxury brand will electrify faster than it had originally planned because of changing consumer tastes. “We are seeing a strong acceleration in demand coming
1:53 PM ET Associated Press SEBRING, Fla. — NASCAR and Hendrick Motorsports have partnered on an effort to enter the 24 Hours of Le Mans next year with a modified version of its new Next Gen car. The collaborative effort announced Thursday at Sebring International Raceway seeks the “Garage 56” entry, which was created in
Thieves continue to target Stellantis as four Ram 1500s were recently stolen from the Sterling Heights Assembly Plant in Michigan. According to WDIV, one of them was a high-performance Ram 1500 TRX and the thieves smashed through the front gate to make their escape. The station goes onto say the latest incident comes one week
Small public auto retailer LMP Automotive Holdings Inc. plans to sell the corporate jet it bought in the fall. The Fort Lauderdale, Fla., retailer with eight franchised dealerships and four used-vehicle stores, and which said in February that it was exploring strategic options including a possible sale of the company, in a Wednesday regulatory filing
Autonomous trucking startup TuSimple Holdings Inc., backed by Chinese social media firm Sina Corp., is looking to sell its business in China and focus on the U.S. market, sources told Reuters. The decision comes after the startup reached an agreement with the U.S. government to restrict the China unit’s access to data due to U.S.
We’ve seen a round of price increases recently among electric vehicle manufacturers, with Rivian, Tesla and BYD announcing price hikes as they battle rising raw materials costs. Obviously, this problem affects all EV manufacturers and Lucid Group makes no exception. The California-based startup had admitted it is looking into raising prices for future models amid
Getty Images DETROIT – Audi expects the war in Ukraine to cause “tremendous interference” to the global supply chain, an executive with the German luxury brand said Thursday. The comments come as automakers globally, including Audi and its Volkswagen parent company, attempt to maintain supply chains of crucial parts such as semiconductor chips and wire
By Maria Merano Posted on March 17, 2022 Tesla owners in Taiwan turned to the country’s Consumer Foundation for alleged issues with their electric vehicles’ batteries. On Wednesday, March 16, the Foundation held a press conference with Tesla owners present, discussing some of the findings in their investigation. The Consumer Foundation’s Secretary-General, Hsu Tse-yu, stated that
Matt Farah and Zack Klapman just had a brand spanking new Lamborghini Aventador Ultimae dropped off at their door with less than 50 miles on the odometer. Of course, the guys from The Smoking Tire made sure to break this V12 beast in properly on a trip through gorgeous Californian canyons. This supercar is so
BERLIN — Audi will expand its EV lineup with a spacious battery-electric station wagon based on the PPE platform it is developing with Porsche. Audi previewed the wagon by unveiling the near-production A6 Avant e-tron concept at its annual media conference on Thursday. The production version of the 5000-mm long (197 inches) concept will offer
Ferrari has given us an early look at a race car based on the 296 GTB, which is currently in the works and shaping up to be a stunner. The race car is being developed in time for the 2023 motorsport season and will initially arrive in GT3 guise. It will serve as a direct
4:54 PM ET Associated Press Pato O’Ward scored his first career IndyCar win a year ago at Texas Motor Speedway and was rewarded for it with a Formula One test with McLaren. Now as he returns to his de facto home track for Sunday’s race, O’Ward’s bright future has suddenly become very cloudy. He’s got
Finding street parking in a busy neighborhood is often very difficult and for residents in the Los Angeles area of Silver Lake, they’ve been struggling with limited parking for over 20 years, largely because of one local car repair center. As reported by Jalopnik, since at least 2002, residents in Silver Lake have been complaining
A closely watched auto-industry forecaster lopped more than 5 million cars off its projections for global production this year and next, largely due to fallout expected from Russia’s invasion of Ukraine. S&P Global Mobility, formerly known as IHS Markit, lowered its 2022 and 2023 estimates each by 2.6 million vehicles. The forecaster now expects auto
Lyft said on Wednesday riders in the United States, except those in New York City and Nevada, would have to pay an extra 55 cents for their commute as the ride-hailing company looks to cushion the impact of high gas prices on drivers. Companies hiring gig workers have started imposing these surcharges as drivers on
In this article 9868-HK A new Xpeng P7 car is shown in the Xpeng Motors flagship store in a shopping mall. Xpeng P7 is one of the two popular models of Xpeng motors. Zhang Peng | LightRocket | Getty Images China’s XPeng said Thursday it led an investment into a new $200 million fund focused
BERLIN — BMW Group said it would resume full production next week at factories that were halted or slowed by supply bottlenecks after Russia’s invasion of Ukraine. Earlier this month, output was paused at factories in Munich and Dingolfing, Germany, and Oxford, England. BMW said last week that it would begin to restart the factories, and
9:59 AM ET Nate Saunders Close F1 Associate Editor • Previously worked in rugby union and British Superbikes • History graduate from Reading University• Joined ESPNF1 in February 2014 Laurence Edmondson Close F1 Editor • Joined ESPN in 2009• An FIA accredited F1 journalist since 2011 Struggling with who to support in Formula One this year? This is the guide
A dozen prospective Tesla owners in Germany will have to wait longer until they get their new car since the Tesla Delivery Center in Weiterstadt has been hit by thieves last week. The loot included wheels for six vehicles, the aero caps from five vehicles, plus a broken panoramic roof in another car. According to the
Citing insufficient evidence, authorities declined to file charges against a Miami Shores, Fla., dealership finance manager arrested on suspicion of identity theft. Tropical Chevrolet Finance Manager Sofia Pinedo, 31, was arrested by the Miami Shores Police Department in February after Jennifer Umanzor reported appearing as a co-signer on an ex-boyfriend’s 2016 Porsche Macan without authorization,
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