7:20 AM ET Carlos Sainz and Ferrari are close to confirming a two-year contract extension, according to a report in Spanish publication AS. Sainz is in the second year of his current Ferrari contract and has looked likely to stay beyond 2022 for a while, with the team showing little interest in shopping around for
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McLaren Automotive is considering hiring Michael Leiters, the former head of technology at Ferrari, as its next CEO, according to people familiar with the matter. Leiters stepped down from Ferrari in December as part of a leadership reorganization under new CEO Benedetto Vigna, and is one of the main candidates being evaluated for the top job
In this article BMW-DE BMW 760i xDrive (European model shown) BMW BMW is adding an all-electric model to its flagship 7-Series sedan lineup as the German luxury brand pivots to EVs to better compete against industry leader Tesla. The new EV, called the i7, was unveiled on Wednesday and is expected to arrive at U.S.
2:38 PM ET Associated Press INDIANAPOLIS — IndyCar team owner Beth Paretta announced Tuesday she intends to bring back her all-woman team for three races this season but doesn’t intend to compete at next month’s Indianapolis 500. Swiss driver Simona de Silvestro will pilot the No. 16 Chevrolet at all three stops — June 12
FRANKFURT — Continental said it has resumed production at its Russian plant in Kaluga to protect local workers who could otherwise face criminal charges. “Our employees and managers in Russia face severe criminal consequences should we refrain from serving local demand,” the German supplier said on Tuesday. Continental did not elaborate on the potential charges
In this article MBG-DE Mercedes-Benz electric EQS SUV Mercedes-Benz Mercedes-Benz on Tuesday took the wraps off its new EQS SUV, its first fully electric SUV built domestically for the U.S. market. The vehicle is the sibling of the EQS sedan, released last year, but with seating for up to seven people and a taller, bubblier
Lexus revealed three images of the new 2023 RZ 450e electric compact crossover on its media site ahead of the vehicle’s planned global reveal on Wednesday. The images show a new design language from the luxury brand, including the equivalent of a filled-in spindle grille on Lexus’ first battery-electric vehicle, as well as a severe
Audi electric Urbansphere concept car Audi Audi is adding a “lounge on wheels” to its recent portfolio of electric concept vehicles that are designed to portray the German automaker’s vision for the future of transportation in automobiles. The new “Urbansphere” concept was designed for travelers in highly dense traffic areas such as China as a
DETROIT — Penske Truck Leasing has ordered 750 Ford E-Transit electric cargo vans, the latest high-profile company to buy in following the vehicle’s February launch. Penske plans to take delivery of the first several vans in the coming weeks, it said in a release. Those vans will be made available to customers in Southern California,
MEXICO CITY — A Mexican union said on Monday it will ask the U.S. government to investigate a Panasonic automotive components plant for alleged worker rights abuses, the latest in a series of disputes seeking to leverage a new trade deal to improve workplace conditions in Mexico. In a petition to U.S. labor officials, to
In this article RIVN Rivian CEO RJ Scaringe on April 11, 2022 inside the company’s plant in Normal, Ill. Michael Wayland / CNBC NORMAL, Ill. – Rivian Automotive CEO Robert Scaringe hops out of one the automaker’s R1T electric pickups outside of the company’s plant in central Illinois as a man chants, “RJ, RJ!” Scaringe,
After deciding in 2021 to drop both its largest sedan and top-end SUV from U.S. showrooms, Toyota will replace them starting this year with vehicles carrying a venerated Japanese nameplate — though one largely unfamiliar to American consumers. Toyota Motor Corp. will launch an SUV version of the Crown sedan and sell it in North
Tesla Inc. shareholders suing over Elon Musk’s 2018 tweet about taking the company private said they won a key ruling in the run-up to a fraud trial with billions of dollars in damages at stake. The investors said a federal judge agreed with them that “no reasonable jury could find Musk’s tweets on August 7,
Electric vehicles make up only about one-tenth of the global market. But automakers and suppliers are preparing for the next generation of components, with solid-state batteries, axial flux motors — and now, 800-volt electrical systems that promise to cut charging time in half, sharply reduce battery size and cost and increase drivetrain efficiency. So far,
In this article TSLA Elon Musk Krisztian Bocsi | Bloomberg | Getty Images In a court filing out late Friday, shareholders who are suing Tesla and CEO Elon Musk over alleged securities fraud said they won part of a critical ruling in their class-action lawsuit. The shareholders are suing Tesla over money they lost after
In her 30 years in the auto industry, Julie Herrera has learned several tricks of the trade. One piece of advice she has for other dealers: When hiring, hire service technicians first. “If you’re getting an opportunity on a new point or a buy-sell, start immediately with securing technicians,” said Herrera, dealer principal of Toyota
Russia’s invasion of Ukraine has led auto industry watchers to cut production and sales forecasts for the next two years. The crisis has shuttered factories in Eastern Europe, and caused spikes in the prices of already precious raw materials. Some factories in Ukraine have tried to keep going amid the invasion. Workers have reportedly had
Honda Motor Co. is dropping the Insight gasoline-electric hybrid in the U.S. to focus on hybrid versions of three core models — the CR-V crossover and the Accord and Civic. Honda said Thursday it will discontinue production of the Insight at its Greensburg, Ind., plant in June. The Insight was the first gasoline-electric hybrid sold
Tesla is preparing to resume production at its Shanghai plant on Monday following a three-week stoppage, having received the go-ahead from local authorities, two people familiar with the matter said. The Shanghai factory, located in the Pudong district east of the city’s Huangpu River, suspended production March 28 after the city started rolling out lockdown
6:35 PM ET Associated Press LONG BEACH, Calif. — Alex Zanardi has been invited back to the Long Beach Grand Prix time and time again in any official race role he wanted. The Italian was informed he would be inducted into the Walk of Fame, but Zanardi was always too busy. Training for the Paralympics,
The wait time for a new Lamborghini SUV or super-car is now over 12 months, as demand from wealthy car lovers shows little sign of slowing, the automaker’s chief executive told CNBC on Wednesday. Despite volatile stock markets and growing economic uncertainty, demand for Lamborghini’s is “as high as ever,” said Stephan Winkelmann, Lamborghini’s CEO.
12:37 PM ET Formula One’s governing body defended the Aston Martin safety car on Thursday, reminding drivers that its top speed was of secondary importance, after world champion Max Verstappen compared it to a turtle. Aston Martin and Mercedes both provide safety and medical cars for grands prix, with the championship divided between the two
EV startup Rivian Automotive has named its first chief sustainability officer, Anisa Kamadoli Costa, who will oversee the automaker’s climate goals, including carbon neutrality in its own operations by 2028. Costa most recently held the position of chief sustainability officer at Tiffany & Co. and served as president of the Tiffany & Co. Foundation, Rivian
China’s automobile and component exports more than doubled in 2021 from a year ago, exceeding 30% growth in China’s exports overall, Bernstein analysts found. Yi Fan | Visual China Group | Getty Images BEIJING — China’s latest Covid lockdowns are a greater risk for global inflation today than they were in 2020, Bernstein analysts said.
6:59 AM ET The Haas Formula One team has rejected former title sponsor Uralkali’s demand for a refund of $13 million and asked for compensation from the Russian company, according to a report by Motorsport.com. Haas split from Dmitry Mazepin’s company Uralkali and dropped his son Nikita as driver several weeks after Russia’s military invasion
DETROIT — GMC‘s next-generation Canyon will include high-end features and off-road capability as the brand adds its new AT4X trim to the midsize pickup. GMC teased the updated Canyon on Thursday, ahead of a full reveal this summer. The Canyon will be the second GMC nameplate to add the AT4X trim, which was introduced on
In February 2020, Nio got a lifeline of financing support led by the government of Hefei city, where the electric car start-up has established its China headquarters. Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese electric car company Nio said Thursday it is gradually resuming production at a facility several hours’ drive west
11:46 AM ET Monaco is still discussing a new contract with Formula One but the future of the showcase race beyond this year is assured, according to the head of organisers the Automobile Club de Monaco (ACM). ACM president Michel Boeri hit back at media reports that Monaco was in danger of dropping off the
Stellantis CEO Carlos Tavares on Wednesday took a bullish stance on the U.S. market despite rising fears of a downturn. Speaking at the automaker’s annual shareholders’ meeting, Tavares said Stellantis was confirming its forecast for double-digit operating income margin this year, and added that expected sales in North America, especially in its highly profitable U.S.
2023 Kia Telluride Kia Kia on Wednesday unveiled its new lineup of Niro hybrid and EV crossovers as well as updates to its extremely popular Telluride SUV. Both nameplates are important to the automaker in different ways. The Telluride has been a surprise sales success for the company, while the new Niro models come as