News

The Club’s 10 things to watch Monday, June 26 1. Stock futures were muted heading into the final week of June and the second quarter. The market is coming off a week that saw all three major indices fall by at least 1%, ending multi-week winning streaks. 2. Tesla (TSLA) gets hit with another downgrade

Ford and Chevrolet topped S&P Global Mobility’s 2023 loyalty ranking of mainstream brands for the first four months of the year, while Toyota fell to seventh place, the market research firm said Tuesday. The drop could be due to conquests by Tesla, with migrations to the electric vehicle maker up for almost every mainstream brand.

In this article TSLA 8JO0-FF TSLA Follow your favorite stocksCREATE FREE ACCOUNT Volvo’s EX30, a small electric crossover SUV, is expected to arrive in the U.S. next year. Courtesy: Volvo Swedish automaker Volvo Cars said Tuesday that it has signed a deal with Tesla that will allow drivers of its electric vehicles to charge at

Laurence Edmondson, F1 EditorJun 27, 2023, 11:30 AM ET Close • Joined ESPN in 2009• An FIA accredited F1 journalist since 2011 Alpine boss Laurent Rossi admits the progress of rival Formula One team Aston Martin has acted as a reality check for his outfit this year. Alpine finished fourth in last year’s championship standings and started

NEW YORK — Lordstown Motors Corp., the electric truck startup that launched operations in a former General Motors small-car plant in Ohio, filed for Chapter 11 bankruptcy protection on Tuesday and put itself up for sale after the company failed to resolve a dispute over a promised investment from Taiwan’s Foxconn. Shares of Lordstown plunged

In this article RIDE Follow your favorite stocksCREATE FREE ACCOUNT The Lordstown Motors Corp. Endurance electric pickup truck is displayed during an unveiling event in Lordstown, Ohio, June 25, 2020. Matthew Hatcher | Bloomberg | Getty Images Struggling electric-truck maker Lordstown Motors filed for Chapter 11 bankruptcy protection on Tuesday and said that it would

Nobel laureate John Goodenough, a pioneer in the development of lithium-ion batteries that today power millions of electric vehicles around the globe, died on Sunday just a month short of his 101st birthday. The American was “was a leader at the cutting edge of scientific research throughout the many decades of his career,” said Jay

In this article F Follow your favorite stocksCREATE FREE ACCOUNT Ford CEO Jim Farley at a battery lab for the automaker in suburban Detroit, announcing a new $3.5 billion electric vehicle battery plant in the state to produce lithium iron phosphate batteries, Feb. 13, 2023. Michael Wayland/CNBC DETROIT — Ford Motor confirmed Monday it will

Jun 26, 2023, 12:09 PM ET British racing team Hitech have applied to enter a team in Formula One from 2026 with investment from Kazakh billionaire businessman Vladimir Kim. Hitech Global Holdings, which owns and operates Hitech Grand Prix, said in a statement on Monday it had agreed the sale of a 25% interest to

Aston Martin struck a strategic supply agreement for high performance EVs that will see the U.S.-based Lucid Group getting a roughly 3.7 percent stake in the U.K. automaker. As part of the agreement, Aston Martin will issue about 28.4 million new ordinary shares to Lucid, which will also get phased cash payments, totaling an aggregated

Jun 26, 2023, 02:35 AM ET Hollywood actors Ryan Reynolds and Rob McElhenney are joining Otro Capital and RedBird Capital Partners in an investor group taking a 24% equity stake in Alpine Racing, the Formula One team’s parent company Renault announced on Monday. The €200 million ($218.10m) deal values British-based Alpine Racing at around $900m

Power management giant Eaton Corp. plans to open a new electrification research lab in Michigan and create 100 EV-focused jobs at several sites in Michigan. The company, domiciled in Ireland with a North American base in Beachwood, Ohio, is looking to invest $22.5 million to expand its plant in Calhoun County’s Eckford Township and increase

With dealership service technicians in short supply, General Motors says it’s seeing some improvement toward building a talent pipeline. Enrollment in GM’s Automotive Service Educational Program, which trains aspiring technicians through a partnership mostly with community colleges across the U.S., is at a 10-year high, said Eric Kenar, GM’s manager of technician environment and service

Associated Press Jun 24, 2023, 07:27 PM ET LEBANON, Tenn. — A.J. Allmendinger pulled away on the second overtime restart Saturday to win his second NASCAR Xfinity race this year and 17th of his career at the Nashville Superspeedway in the Tennessee Lottery 250. The 41-year-old Allmendinger pitted on Lap 145 and used fresher tires

WASHINGTON — U.S. auto safety regulators said on Saturday they are investigating Ford Motor Co.’s prior recalls of 710,000 Explorer large crossovers over power loss reports to determine if the fix is adequate. The National Highway Traffic Safety Administration noted the No. 2 U.S. automaker issued recalls in April 2022 and March on Ford Explorers from

In this article TSLA F Follow your favorite stocksCREATE FREE ACCOUNT CNBC’s Jim Cramer said Tuesday that many on Wall Street have it all wrong when it comes to legacy automaker Ford. “I think there’s real value here in Ford, more value than is captured by its $14 share price even with that 4.25% yield,”

TOKYO — Nissan Motor Co. has started an investigation into claims by a senior adviser that CEO Makoto Uchida carried out surveillance of his deputy Ashwani Gupta, four people with direct knowledge of the matter said. The surveillance claims, first reported by the Financial Times, were made by Hari Nada, 58, a senior adviser at

In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT A Tesla Model Y is seen on a Tesla car lot on May 31, 2023 in Austin, Texas. Brandon Bell | Getty Images A security researcher who uses the handle “@GreentheOnly” has discovered a secret setting in Tesla vehicles that can be enabled by the

Washington state plans to require electric vehicle charging companies to include Tesla‘s plug if they want to be part of a state program to electrify highways using federal dollars, an official told Reuters on Thursday. Washington follows Texas’ move to mandate Tesla’s technology, The North American Charging Standard (NACS), adding momentum to CEO Elon Musk‘s

Ford Motor (F) is reportedly gearing up for a new round of layoffs, just as the automaker secured a major loan from the U.S. government to produce batteries — two developments that should accelerate the Club holding’s efforts to become a top player in the electric-vehicle market. As CEO Jim Farley continues to rein in

Michael Schumacher came out of retirement to race for Mercedes between 2010 and 2012. Mark Thompson/Getty Images Mick Schumacher will drive his father Michael’s 2011 Mercedes Formula One car at the Goodwood Festival of Speed in July. Schumacher is currently a reserve driver for Mercedes, who his father raced for between 2010 and 2012 after coming

Sonic Automotive Inc., citing lower used-vehicle availability and higher wholesale pricing, has indefinitely suspended operations at eight EchoPark used-only locations and an unspecified number of delivery/buy centers, and it will take a significant second-quarter charge. The Charlotte, N.C., company said it anticipates a one-time charge from $60 million to $80 million, noting that all but

It’s not unusual for a company’s stock price to soar — or sink — on news of a CEO shakeup. When Mary Dillon, revered on Wall Street for her eight-year run at Ulta Beauty (ULTA), was named to the top job at Foot Locker (FL) last year, the shoe retailer’s stock jumped 20% in a

Associated Press Jun 22, 2023, 03:16 PM ET PHILADELPHIA — The race to reopen a stretch of Interstate 95 in Philadelphia is getting a boost from a truck-mounted jet dryer that’s normally used to keep moisture off the track at the Pocono Raceway. A vehicle-mounted, kerosene-fueled turbine arrived Thursday at the scene of the June

New-vehicle quality — after hitting the lowest level in more than three decades last year — is getting worse, a J.D. Power survey found. Technology is more prevalent, which creates more opportunities for problems to arise, and issues are cropping up with basic vehicle functions, such as the ease of opening doors, according to J.D.

In this article STLA F TSLA PSNY TM GM TSLA Follow your favorite stocksCREATE FREE ACCOUNT The 2023 Alfa Romeo Tonale. Alfa Romeo New vehicles are becoming more troublesome, due in part to new technologies including safety systems, according to the 2023 edition of J.D. Power’s Initial Quality Study released Thursday. “The automotive industry is

Hazel Southwell Jun 22, 2023, 09:19 AM ET Formula E once had everything F1 wanted. Now it’s searching for relevance. Manuel Romano/NurPhoto via Getty Images To a backdrop of sweeping, mid-season leadership changes, Formula E is making another attempt at cracking the United States. Saturday’s race in Portland puts the all-electric open-wheel series in competition with

Toyota Motor Corp. will offer special limited editions of each of its three GR track car models this year, including two that hearken back to Toyota models from decades ago. Arriving in U.S. dealerships this fall, the 45th-anniversary edition of the GR Supra will be limited to 900 vehicles, split evenly between orange and white

Cadillac advertises for its electric car in Shanghai on May 23, 2023. A traffic police woman stands below. Hugo Hu | Getty Images News | Getty Images BEIJING — Subsidies for electric cars aren’t enough to boost growth in China’s slowing economy. One of the few detailed stimulus plans Beijing has announced this year extends

Polestar Automotive Holding UK is setting up a $200 million software joint venture with tech company Xingji Meizu, also owned by parent Zhejiang Geely Holding Group Co., to keep up on digital features in China. The new unit will develop Xingji Meizu’s technology platform, Flyme Auto, into an operating system to offer in-car apps, streaming