Frank Hasenfratz, the founder and executive chairman of Canadian auto supplier Linamar Corp., has died at age 86. The longtime powertrain parts supplier said late Saturday that Hasenfratz died peacefully at his home surrounded by his family. Linamar said Hasenfratz lost “a courageous battle with cancer.” “It is with a heavy heart that we announce the
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In this article GM WMT FDX Walmart signed an agreement to reserve 5,000 of BrightDrop’s EV600 and smaller EV410 electric delivery vans to support the retail giant’s last mile delivery network and goal of operating a zero-emissions logistics fleet by 2040. GM Walmart and FedEx plan to add thousands of electric delivery vans produced by
Hani Bin Sha’ari spent more than two decades rising through the ranks at STMicroelectronics NV’s facility in Malaysia. He prided himself on working hard to provide for his wife and four children. So when the chip plant remained open through a spike in COVID-19 infections last year, he kept doing his job. Then one morning
In this article VOW3-DE A Bentley PHEV Mulliner car is displayed during the 19th Shanghai International Automobile Industry Exhibition, also known as Auto Shanghai 2021, at National Exhibition and Convention Center (Shanghai) on April 23, 2021 in Shanghai, China. Zhe Ji | Getty Images Bentley Motors sold a record number of its luxury sedans and
The Suburban Collection, a group of 34 Michigan dealerships owned by Lithia Motors Inc., for the first time is using TV commercials to look for employees. The recruitment campaign, which began in October and features ads on broadcast and streaming TV and social media, is already helping Suburban’s hiring efforts in this tight labor market,
In this article AMZN RIVN R.J. Scaringe, Rivian’s CEO, introduces the world to his company’s R1T all-electric pickup and all-electric R1S SUV at the Los Angeles Auto Show in Los Angeles, California, November 27, 2018. Mike Blake | Reuters Shares of Rivian were down another 10% to a new 52-week low on Thursday, a day
It took unprecedented supply interruptions and a global pandemic to do it, but 2021 will go down in history as the U.S. auto industry’s Great Jostling. Things that seemed as if they would always stay true fell by the wayside. Former industry upstarts hit their strides and rocked the status quo. Unmet demand for new
When it comes to car shopping these days, sticker price may mean sticker shock. New and used car prices continue to spurt higher amid strong demand and tight inventory. While a manufacturing slowdown has improved slightly, there won’t be a return to normal anytime soon for car buyers. “The typical dealership experience that consumers are
Audi Lakeland incorporated personalized videos into its sales and service strategy in May 2019, well before the coronavirus pandemic forced dealerships nationwide to take more of their customer interactions online. It was fortuitous timing. The videos have proved to be a vital tool, especially during the pandemic, because they jump-start the sales process and help
In this article TSLA A Tesla Model Y electric vehicle is dispalyed on a showroom floor at the Miami Design District on October 21, 2021 in Miami, Florida. Joe Raedle | Getty Images On Friday, Tesla CEO Elon Musk announced on Twitter that the company will raise the price of its premium driver assistance package,
Even as their pace of growth slowed in the final weeks of 2021, wholesale used-vehicle prices again increased in December, hitting new record highs, and analysts expect prices to rise more in the spring. Cox Automotive said Friday that its Manheim Used Vehicle Value Index, which tracks vehicles sold at Manheim’s U.S. auctions, rose 1.6
8:10 AM ET New year, new rules, new look. After one of the most exciting seasons in its history, Formula One is due to make one of the biggest regulatory shake ups for decades. Why change the regulations? The overhaul of Formula One’s technical regulations for 2022 is so extensive that it’s easier to list
People look at BMW’s iX Flow prototype at the BMW booth during the CES tech show, Wednesday, Jan. 5, 2022, in Las Vegas. The iX Flow is a system that replaces regular car paint with with E Ink technology that allows the car to change color and design. Joe Buglewicz | AP BMW doesn’t want
Carl Icahn has reached an agreement with auto supplier Dana Inc. that gives the activist investor two seats on the board. Its shares jumped 2.2 percent in early trading. The axle and powertrain parts supplier will temporarily expand its board to 12 members to make room for Icahn’s directors — his son Brett Icahn and
In this article HUM RIVN BIRD GS CRWD CAG Rivian electric trucks are seen parked near the Nasdaq MarketSite building in Times Square on November 10, 2021 in New York City. Michael M. Santiago | Getty Images Here are the stocks making headlines on Wall Street in midday trading. Humana — Shares of the insurance
Power management company Eaton Corp. said Tuesday that it finalized a deal to acquire Royal Power Solutions for $600 million in a bid to expand its electric vehicle supply chain business. Royal Power Solutions is an electric connectivity components company whose parts are used primarily in EVs. The acquisition will allow Eaton’s eMobility team to
DETROIT – General Motors made several announcements at the CES technology show Wednesday that investors should take note of – specifically its future plans for electric and autonomous vehicles. GM CEO Mary Barra, who was one of the event’s headliners, unveiled the 2024 Chevrolet Silverado EV pickup that’s expected to go on sale next year
Startup company Battery Resourcers plans to open a recycling plant for lithium-ion batteries in Georgia this year, as automakers shifting to EVs drive up demand for the energy-storage devices. Battery Resourcers will invest $43 million in the facility and expects it to be fully operational in August, the Worcester, Mass., company said in a statement
In this article AMZN RIVN STLA-IT Stellantis announced on January 5, 2022, a major partnership with Amazon to connect its vehicles, including using the US giant’s AWS servers and its Alexa voice command system. Marco Bertorello | AFP | Getty Images Stellantis, the automaker formerly known as Fiat Chrysler, said Wednesday that Amazon will provide
While General Motors and Ford have been making waves with electric pickups, Stellantis has been sitting back and taking notes as it preps its first electric Ram 1500 for 2024. The competitive juices are flowing. Stellantis CEO Carlos Tavares said Wednesday that the electric pickup race is stoking the imaginations and expertise of the company’s
6:34 AM ET Otmar Szafnauer, chief executive officer and team principal of the Aston Martin Formula One team announced his departure on Wednesday. The Silverstone-based team, owned by Canadian billionaire Lawrence Stroll, said in a statement that a leadership team would take over until a replacement was appointed. “We would like to thank him for
In this article GM Cadillac InnerSpace concept GM DETROIT — General Motors CEO Mary Barra unveiled a new personal self-driving electric concept car from GM’s luxury brand Cadillac on Wednesday during the CES technology show. The sleek two-passenger car, called InnerSpace, is part of Cadillac’s Halo Concept Portfolio, which debuted a year ago at CES
DETROIT — Diversified auto supplier Magna International Inc. said it will set up a new EV center at its U.S. headquarters as it gears up for the launch of its electric powertrain system for trucks in 2025. In a news release, the Canadian supplier said its U.S. headquarters in Troy, Mich., near Detroit, would be
6:40 PM ET Associated Press INDIANAPOLIS — Kevin Kalkhoven, the team co-owner of Tony Kanaan‘s Indianapolis 500-winning entry in 2013, died Tuesday. He was 77. The Indianapolis Motor Speedway announced Kalkhoven’s death and did not detail a cause. Kalkhoven was co-owner with Jimmy Vasser of the KV Racing Technology-SH Racing Chevrolet that Kanaan drove to
In this article STLA-IT Chrysler Airflow concept Chrysler Once-prominent Chrysler plans to reinvent itself as an all-electric auto brand by 2028, the company announced Wednesday. Those plans begin with a new crossover concept called the Chrysler Airflow that was unveiled online for the CES consumer technology show in Las Vegas. The tech-savvy concept car is
Hyundai Motor Co. is leveraging its robotics expertise to develop scalable mobility platforms that can employ a single module to move a video screen across the room or multiple units to create a personal transportation pod for short distances. That includes the use of robots to bridge the gap between the real world and virtual-reality
2:01 PM ET French prosecutors have launched a terrorism investigation after a French vehicle involved in a stage of the Dakar Rally in Saudi Arabia last week exploded, injuring one of the competitors. In a statement on Tuesday, the prosecutors said the explosion happened on Dec. 30 in the Saudi city of Jeddah. It said
In this article F Ford still has more room to run in 2022 after a stellar performance last year, CNBC’s Jim Cramer said Tuesday. Shares of Ford surged another roughly 10% to more than $24 on the second trading day of the year. They hit a fresh 52-week high — building on Monday’s nearly 5%
STOCKHOLM — Volvo Car Group said it has appointed Jim Rowan as new CEO to succeed Hakan Samuelsson in March. Rowan, currently CEO at U.S-based Ember Technologies, is taking over just months after Volvo wrapped up its IPO, the biggest in Europe last year. Volvo, in a statement Tuesday, said Samuelsson will stay in his
In this article TSLA In this photo illustration a Tesla logo seen displayed on a smartphone with the stock market graphic in the background. Omar Marques | LightRocket | Getty Images Tesla has opened a new sales and service center in the Xinjiang region of China, home to a Muslim population known as the Uyghurs