Category: Automotive News

McLaren’s electric SUV must wait for better battery tech

By on July 22, 2023

SUVs have given ultraluxury companies a solid revenue boost. For example, in the first quarter, the Bentayga SUV accounted for 42 percent of Bentley sales, while the Lamborghini Urus accounted for over half the brand’s sales in the same period. McLaren Automotive Group’s loss increased to 335 million pounds ($433 million) in 2022, up from a 136 million pound loss a year earlier as the company struggled to roll out its core Artura V-6 plug-in hybrid model amid supply chain constraints. The Artura is still facing delays in the US, McLaren’s largest global market. McLaren sold 2,188 cars in 2022,…

Rivian commits to more in-person customer contact in Canada

By on July 21, 2023

Rivian, which makes high-end electric SUVs and pickups, is opening its first Canadian showroom in the Vancouver suburb of Burnaby. The move by the California EV maker marks a course change from a strategy that favored largely online contact with customers, Denise Cherry, senior director of design and retail development, said. The purchase process still won’t be conducted end-to-end in the showrooms, which Rivian calls Spaces. The store will give it more of a presence in the community and customers a better chance to interact with the product and staff, he said. “We did want a place to put down…

Investing in Quality Auto Glass Restores Your Vehicle’s Value

By on July 21, 2023

Just like dents and dings happen on the doors, hood, and body of your vehicle, mishaps also affect the auto glass. Damaged auto glass detracts from the vehicle’s aesthetic appeal, and it also impacts safety while driving. If you plan to sell your vehicle, investing in quality auto glass restores its value in several key ways. What Dealers Consider When Valuing Your Vehicle No matter whether you engage in a private sale or you plan to sell your vehicle to a used car dealer, several factors go into its value. According to Consumer Reports, fixing auto glass defects helps restore…

Magna to build three plants to supply Ford Blue Oval City

By on July 20, 2023

Magna’s project is the latest example of a major supplier investing to alter its manufacturing footprint with an eye toward winning EV-related businesses as the industry’s electrification push continues. This is the third significant investment Magna has made in its battery enclosure manufacturing footprint in the past year. In that time, the company also committed about $700 million to build or expand battery enclosure plants in Michigan and Ontario, the latter of which supplies Ford for F-150 Lightning production. Battery enclosures are a significant “target area” for Magna as it positions itself for EV production in the coming years, said…

Stellantis releases details of the STLA Medium EV platform

By on July 18, 2023

Stellantis’ STLA Medium platform will underpin at least 2 million EVs a year and offer a range of up to 700 km (435 miles) on vehicles starting with the Peugeot 3008 SUV by the end of this year. The platform — which Stellantis says is “BEV by design” — is one of four electric architectures that Stellantis announced in 2021 when the group was formed after the merger of PSA and Fiat Chrysler Automobiles. The others are STLA Small, STLA Large and STLA Frame. Stellantis released the first details of STLA Medium on Wednesday, with executives emphasizing that it is…

EV, battery plants flock to the South without consumer incentives

By on July 17, 2023

South Carolina, which has received $10 billion in EV investment from Volkswagen, BMW, Mercedes-Benz and others, and Kentucky, which has received $10 billion in EV investments from Ford, SK On and AESC, fell below the level required to be included in the ranking. South Carolina earned 14 of the 100 points available. Kentucky earned 5.5. California, at the top of the list, earned 88. “I definitely think that the southern states, or the states that are receiving a lot of this new investment, are missing out,” Huether said. “It would be great if the drivers in those states could actually…

Tesla Shattered Delivery Targets But Margins Remain The Question

By on July 16, 2023

A red Tesla Model 3 was seen on a lot outside a Tesla store.good morning! It’s Monday, July 3, 2023 and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know. 1st Gear: Volume, Volume, Volume Tesla moved 466,140 vehicles globally in the second quarter of 2023, when analysts expected about 448,000. Wall Street loves it when this happens, as evidenced by Tesla’s stock trending more than 6% up in premarket trading Monday. Courtesy Bloomberg: Read more“It’s a big…

Stellantis EV battery plant construction resumes

By on July 16, 2023

Dong-Myung Kim, president and head of the Advanced Automotive Battery Division of LG Energy Solution, called it “a good day not only for our joint venture but also for Canada.” “We are happy to finally move forward with building the country’s first major battery plant and become a central part of the local battery ecosystem,” Kim said in the same statement. “We are grateful to the federal and provincial governments for working together, and to everyone who worked tirelessly to get this deal done.” Danies Lee, CEO of NextStar Energy, said the company “can now focus on what we do…