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Last week 40,055 vehicles were axed from production plans because of the microchip shortage worldwide as automakers continue grappling with supply chain woes, according to the latest estimate by AutoForecast Solutions. Most of last week’s cuts were at European assembly plants, where about 29,300 vehicles were removed from factory schedules. There were also losses at

Once the darlings of automotive investors, electric vehicle startups are now limping along under the weight of a heavy cash burn, forcing companies to find new ways to stanch the bleeding. Rivian Automotive Inc., Lucid Group Inc., Nikola Corp. and Faraday Future Intelligent Electric Inc. all had fewer months of cash on hand in the

In this article HTZ Follow your favorite stocksCREATE FREE ACCOUNT Tesla Model 3 electric vehicles at a Hertz neighborhood location. Hertz Consumers may be on the fence about whether it’s yet time to buy EVs, but car-rental giant Hertz Global Holdings has made the leap. Markets boosted shares of Estero, Fla.-based Hertz after its recent

Ford dealer Richard Bazzy’s indecisiveness has helped dozens of students from his high school alma mater attend college. In 2020, Bazzy, who owns three Shults Ford locations outside Pittsburgh, created a $5,000 annual scholarship intended for graduates of Steel Valley High School. The next year, 11 students applied for the scholarship, which asks for a

Founders: Praveen Penmetsa (CEO), Mark Schwager, Zachary Omohundro, Carlo MondaviLaunched: 2018Headquarters: Livermore, CaliforniaFunding: $116.4 millionValuation: $271 millionKey technologies: Autonomous vehicles, roboticsIndustry: AgriculturePrevious appearances on Disruptor 50 List: 1 (No. 20 in 2022) Persephone Kavallines Agriculture has been difficult to disrupt, and decarbonize. As the producer of the world’s first-ever fully electric, driver-optional smart tractor, Monarch Tractor’s goal

Associated Press May 13, 2023, 06:29 PM ET INDIANAPOLIS — Alex Palou inherited the lead on Lap 66, then drove away from the pack Saturday to win the Indianapolis Grand Prix by 16.8006 seconds over Pato O’Ward. It’s Palou’s first win in 11 career starts at Indy, his first of the season and the first

As General Motors invests heavily in software, the automaker will get a boost from the Silicon Valley tech world. Mike Abbott, who led cloud services at Apple Inc., will become GM’s executive vice president of software beginning May 22, the automaker said last week. He will report to CEO Mary Barra and oversee a reorganized

Dave Walters of Orange County, California, stands by his newly leased Hyundai Ioniq 5 electric vehicle. Provided by Dave Walters Fed up with high gas prices and enticed by federal tax credits, Dave Walters decided he wanted an all-electric Hyundai Ioniq 5 for his next vehicle. The Orange County, California, resident initially thought about purchasing

Alfa Romeo is preparing to launch a TV ad blitz for the Tonale compact crossover, the Italian brand’s first plug-in hybrid vehicle. The Tonale has been making the rounds in an outreach tour highlighted by a display at a Formula One race in Montreal, various auto shows and an April 2022 appearance on “Live with

In this article FSR FSR Follow your favorite stocksCREATE FREE ACCOUNT The New York Stock Exchange welcomes Fisker Inc. (NYSE: FSR), today, Monday, November 9, 2020, in celebration of its recent IPO. Source: NYSE Electric vehicle startup Fisker on Tuesday reported a wider first-quarter loss than expected and cut its production guidance for the full

Associated Press May 12, 2023, 05:52 PM ET INDIANAPOLIS — Danish driver Christian Lundgaard won his first IndyCar pole Friday, claiming the No. 1 starting spot for Saturday’s Indianapolis Grand Prix. Last season’s rookie of the year posted a fast lap of 1 minute, 9.3321 seconds on Indianapolis Motor Speedway’s 14-turn, 2.439-mile road course. It’s

Volkswagen is committed to moving completely to electric vehicles by the mid-2030s, but until then, an interim step makes sense while the U.S. continues to build out charging infrastructure, the new head of the brand’s North American arm argues. In an interview with Automotive News, Pablo Di Si, who is also in his first year

In this article NKLA Follow your favorite stocksCREATE FREE ACCOUNT Nikola Motor Company Source: Nikola Motor Company Electric heavy truck maker Nikola said that it’s “refocusing the company on North America” as it exited a European joint venture with its chassis supplier. The news came as the company reported its first-quarter results. Here are the

Alanis King May 12, 2023, 08:41 AM ET Amid a boom for Y2K fashion, throwback NASCAR streetwear is in fashion now more than ever. Ryan Williams Brodie Butterfield, a tech worker in Australia, walked into his job one day and saw a colleague in a vintage Dale Earnhardt Sr. shirt. Earnhardt Sr., who won seven championships

Elon Musk said on Thursday he has found a new chief executive for Twitter without naming the person and that he will transition to the role of chief technology officer of the social media platform within the next few weeks. “Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting

A Mercedes S-Class luxury automobile rolls off the assembly line at the Mercedes-Benz Group plant in Sindelfingen, Germany, on Monday, Feb. 13, 2023. Krisztian Bocsi | Bloomberg | Getty Images Two people, both 44, were killed in a shooting at the Mercedes-Benz Daimler factory in Sindelfingen, southern Germany on Thursday, local German police said. The

Swedish automaker Polestar has slashed its 2023 volume forecast by as much as a quarter and announced a delay — its second — in launching its high-volume electric crossover. Polestar 3 production is pushed to the first quarter of 2024 because of software development issues plaguing affiliate Volvo’s new electric platform, which underpins the midsize

In this article A4N1-FF Follow your favorite stocksCREATE FREE ACCOUNT Polestar 3 Courtesy: Polestar Swedish electric vehicle maker Polestar on Thursday trimmed its full-year production guidance, saying that its upcoming Polestar 3 SUV will be delayed until 2024 because of software issues. The company also said it will cut about 10% of its workforce to

Daniel Ricciardo is not being lined up to replace underperforming Nyck de Vries at AlphaTauri at present, sources have told ESPN, despite reports linking him to a move. Multiple reports said on Thursday that Ricciardo visited AlphaTauri’s headquarters in Faenza, Italy this week for a seat fitting, adding that Red Bull motorsport advisor Helmut Marko

General Motors aims to bring in more revenue from commercial and fleet buyers with a new unit designed to simplify the sales process and create a “one-stop” experience. The initiative, called GM Envolve, will give businesses a dedicated sales account executive who can reach across multiple divisions, whether the customers are buying vehicles or in

A presenter stand next to Hyundai’s all-electric SUV ‘IONIQ 5’ during its launch at the Auto Expo 2023 on January 11, 2023 in Greater Noida, India. Ajay Aggarwal | Hindustan Times | Getty Images South Korean automaker Hyundai Motor Company is ramping up its production capabilities as it aims to become one of the world’s

Nikola Corp. is strapped for cash. The Phoenix-based electric-truck company is losing upward of $150 million per quarter and holds about $150 million in cash and receivables on its balance sheet. The company can raise up to $500 million going forward through existing credit and loan agreements. It could also borrow against its buildings and

In this article F Follow your favorite stocksCREATE FREE ACCOUNT 2024 Ford Ranger Raptor Ford DETROIT — Ford Motor on Wednesday revealed its redesigned Ranger midsize pickup truck for the U.S., including a new Raptor performance model. The addition of the Raptor — starting at $56,960 — is part of Ford’s plan to increase high-profit

May 10, 2023, 06:43 AM ET Ferrari are struggling with an inconsistent car that is competitive in qualifying but off pace in the race, Charles Leclerc and Carlos Sainz said after a difficult Miami Grand Prix. The Italian team’s next outing is a home race at Imola and fans will be apprehensive after a weekend

Workers at a Clarios vehicle battery plant in Holland, Ohio, began striking Monday morning after voting down a contract proposal, local TV news station 13abc reported. The approximately 400 striking workers are members of UAW Local 12. Clarios is a leading global producer of low-voltage batteries for a range of vehicles, with 18 plants and

In this article RIVN Follow your favorite stocksCREATE FREE ACCOUNT Rivian Courtesy: Rivian Electric vehicle maker Rivian Automotive on Tuesday reported a first-quarter loss that was narrower than expected and said it’s still on track to meet a 50,000-vehicle production target for 2023. Shares were up about 4% in after-hours trading following the news. related

8:01 AM ET ESPN staff ESPN is the exclusive home of Formula One in the U.S. in 2023. ESPN will show every session of every race across the season, commercial-free, on ESPN, ESPN2 or ABC. TV schedule (all times Eastern): Azerbaijan Grand Prix Editor’s Picks The Azerbaijan Grand Prix is the first of six races

An inventory efficiency index developed by Cloud Theory ranked the Toyota brand as the most efficient mover of vehicle inventory in the U.S. The index’s April results show Toyota overtaking Kia to claim the top spot. Kia had been the consistent industry leader in inventory efficiency for more than a year, according to Rick Wainschel,

In this article GM Follow your favorite stocksCREATE FREE ACCOUNT A sign with the General Motors quality mission statement stands in the lobby at the GM Warren Tech Center in Warren, Michigan. Rebecca Cook | Reuters DETROIT – General Motors has hired former Apple executive Mike Abbott to lead a newly created software unit for

May 9, 2023, 08:33 AM ET Alpine boss Laurent Rossi has warned the Renault-owned Formula One team he will make changes before the end of the season if performance does not improve. Alpine ended last year fourth but are now sixth with French drivers Esteban Ocon and Pierre Gasly scoring just 14 points from five