Month: March 2023

Hyundai previewed the bold design of its 2024 Kona family in December 2022 and followed up with the powertrain specs for the gas-powered and hybrid variants of the subcompact crossover in January 2023. The company has now dropped the first powertrain specifications and EV-specific equipment details of the family’s most anticipated member, the 2024 Kona Electric. The
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Volkswagen Group has raised its electric car sales goal for Europe for its core VW passenger cars brand. The brand’s new target is for at least 80 percent of its sales in Europe to be full-electric models in 2030, said Thomas Ulbrich, who heads VW brand’s New Mobility business. Under VW’s Accelerate electrification strategy unveiled
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3:47 PM ET Associated Press ST. PETERSBURG, Fla. — Jack Harvey was taken to a hospital for observation and Helio Castroneves needed an ice pack and X-rays. A pair of cars went airborne, the leaders crashed into each other and the entire Andretti Autosport fleet was eliminated. Indianapolis 500 winner Marcus Ericsson, meanwhile, won the
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Cadillac stores scored highest in the annual Pied Piper PSI Internet Lead Effectiveness Study measuring speed and quality of responses to Internet customer inquiries of dealerships. Pied Piper said it submitted inquiries to 5,428 dealership websites, posing specific questions, and gave a score out of 100 based on how well each store responded over the
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Editor’s note: Redwood will soon produce cathode from the recycling program. An earlier version of this story misstated that status of that production. Redwood also clarified that other packs were recycled outside of the California pilot program. Redwood Materials recycled more than 1,000 end-of-life battery packs last year to produce high-quality battery materials through a
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In this article RIDE Follow your favorite stocksCREATE FREE ACCOUNT Signage outside Lordstown Motors Corp. headquarters in Lordstown, Ohio, on Saturday, May 15, 2021. Dustin Franz | Bloomberg | Getty Images Lordstown Motors said Monday that it still had over $220 million in cash at the end of 2022, despite ongoing challenges that halted production
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7:22 PM ET Associated Press LAS VEGAS — One way or another, a Hendrick Motorsports driver figured to win Sunday’s NASCAR Cup Series race at Las Vegas. Kyle Larson nearly won the Pennzoil 400 in regulation, but a late caution put teammate William Byron in position to capture the checkered flag in overtime. Byron took
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Dalton Corp., a large Mexican company with businesses in several industries including auto retail, entered the U.S. dealership market in November with the purchase of two California stores after searching for years for the right fit. And it wants to add more north of the Mexican border. Dalton, of Guadalajara in western Mexico, on Nov.
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AutoNation’s $190 million acquisition in January of mobile service firm RepairSmith has energized the small but growing mobile repair world and highlights how dealerships can remain relevant in a rapidly changing retail environment. At the time of the purchase, AutoNation CEO Mike Manley said buying RepairSmith gives the nation’s largest new-vehicle retailer the ability “to
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5:59 PM ET Associated Press ST. PETERSBURG, Fla. — Andretti Autosport has insisted for months that it was doing the behind-the-scenes work to recover from last year’s brutally disappointing IndyCar season. The team won only two races among its four drivers, former Formula One star Romain Grosjean was a bust in his first year with
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Tesla announced during the 2023 Investor Day on March 1, 2023 that its cumulative production reached four million electric vehicles. The jubilee vehicle happens to be a Tesla Model Y, produced at the Giga Texas factory, where the event was held. The company released also a short video with employees celebrating the new milestone:  
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Private equity investors plowed at least $647.5 million into automotive-related startups in February. Of that, almost 71 percent, or $457.5 million, went to companies working on battery technology, one of the safer bets in the electric vehicle space thanks to the federal government’s industrial policy and incentive programs. While automakers invest billions on EV development
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